At the beginning of the year X Limited's Asset amounted to P14,625,000 At the end of the year Assets decreased by P4,250,000 while the Owner's Equity amounted to P3,850,000 How much is the liability at the beginning of the year?
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- For the current year, Vidalia Company reported revenues of 250,000 and expenses of 225,000. At the beginning of the year, its retained earnings had a balance of 95,000. During the year, Vidalia paid 11,000 dividends to shareholders. Its contributed capital was 56,000 at the beginning of the year, and it did not issue any new stock during the year. Vidalias assets total 237,500 on December 31 of the current year. What are Vidalias total liabilities on December 31 of the current year?Tired Company’s assets for the current year decreased by P135,000 while its liabilities increased by P25,000. During the year, the owner withdrew P12,000 and made additional investment of P17,000. How much is the net income (loss) for the year? (P165,000) (P105,000) (P115,000 (P110,000)South Valley Company’s assets for the current year decreased by P135,000 while its liabilities increased by P25,000. During the year, the owner withdrew P12,000 and made additional investment of P17,000. How much is the net income (loss) for the year?a. (P165,000) c. (P105,000)b. (P115,000 d. (P110,000)
- Black Company has beginning total assets of P200 million and ending liabilities of P110 million. Black had a beginning capital of P50 million and ending capital of P90 million. If the Company generated total revenues of P150 million and incurred total expenses of P90 million during the year, how much was the withdrawal made by the owner during the year, if any?At the beginning of the year, an Entity had total assets of P700,000 and total liabilities of P500,000. If the total assets increased by 30% which corresponds to decrease in total liabilities by 20%, what is the amount of owner’s equity at the end of the year?A. P200,000B. P210,000C. P110,000D. P510,000Zaire Company had a $26,000 net loss from operations. Depreciation expense for the year was $9,600, and a dividend of $2,000 was declared and paid. The balances of the current asset and current liability accounts at the beginning and end of the year are as follows: End Beginning Cash $3,500 $7,000 Accounts receivable 16,000 27,000 Inventory 51,000 53,000 Prepaid expenses 5,000 9,000 Accounts payable 12,000 8,000 Accrued liabilities 6,000 7,600 Did Zaire Company’s operating activities provide or use cash? Use the indirect method to determine your answer. Use negative signs with cash outflow answers and to indicate operating activities used cash, if applicable.
- At the beginning of the year, the owner’s capital of SLG Company is $300,000 while its liabilities at the end of the year are $180,000. During the year, the owner withdrew cash for his personal use amounting to $80,000 and the results of operations showed revenues of $900,000 and expenses amounted to $320,000. What is the amount of SLG Company’s total assets at the end of the year? a) $620,000b) $120,000c) $480,000d) $980,000Pinaasa Company had total assets of P4,000,000 and shareholder’s equity of P2,080,000 at the beginning of the year. During the year, assets increased by P520,000 and liabilities decreased by P820,000. What is the shareholder’s equity at the end of the year? P3,700,000 P3,420,000 P1,340,000 P3,380,000The beginning capital balance shown on FDNACCT’s Statement of Changes in Owner’s Equity is P67,000. Net income for the period is P25,000. The owner withdrew P44,000 cash from the business and made additional investments of P45,000 during the period. Total current liabilities are recorded at P98,000 while long term liabilities amount to P469,000. How much is the total assets at year end?
- During the current year, Delaware Company reported total operating expenses of P3,200,000, consisting of P1,000,000 depreciation, P700,000 insurance and P1,500,000 salaries. The prepaid insurance P150,000 on January 1 and P200,000 on December 31. The accrued salaries payable totaled P220,000 on January 1 and P200,000 on December 31. What total amount was paid for operating expenses? P2,270,000 P3,270,000 P2,230,000 P2,130,000At the beginning of the year, the owner’s capital of SLG Company is $300,000 while its liabilities at the end of the year are $180,000. During the year, the owner withdrew cash for his personal use amounting to $80,000 and the results of operations showed revenues of $900,000 and expenses amounted to $320,000. What is the amount of SLG Company’s total assets at the end of the year? — $980,000 Question: If the total liabilities decreased by $25,000 during a period and equity increased by $30,000 during the same period, what is the amount and direction (increase or decrease) of the period’s change in total assets? a) $5,000 decreaseb) $5,000 increasec) $55,000 increased) $55,000 decreaseEntity A had total assets, liabilities, and equity of ₱150M, ₱90M and ₱60M, respectively, at the beginning of the period. During the period, Entity A’s total liabilities decreased to ₱40M, while its profit was ₱25M. There were no other transactions or events that affected equity during the period. How much is Entity A’s ending total assets? a. ₱75M c. ₱95M b. ₱115M d. ₱125M
