Elements of Financial StatementsAssetLiabilitiesOwner's Equitya.760,000360,000?b.860,000529,000C.?108,000760,000d.626,600376,240??800,000(100,000)е.Required: Fill in the amount of the missing element of financial position. Problem #4Elements of Financial Statements1. Jimmy Delgado Pest Control has assets P600, 000 and owner's equity of P450, 000.2. Margie Clavano Realtors has liabilities of P350, 000 and owner's equity of P410, 000.3. Marko Fuentes Plumbing Contractor has assets of P473, 000 and liabilities of P153, 700.4. Ryan Morales Acting studio has liabilities of P147, 000 and owner's equity of P236, 500.5. Fely Monarca Dance has assets of P624, 000 and liabilities of P237, 000.Required: Compute the amount of the missing element of financial position.

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Elements of Financial Statements Asset Liabilities Owner's Equity a. 760,000 360,000 b. ৪60,000 ? 529,000 C. 108,000 760,000 d. 626,600 376,240 ? е. 800,000 (100,000) Required: Fill in the amount of the missing element of financial position.

Elements of Financial Statements Asset Liabilities Owner's Equity a. 760,000 360,000 b. ৪60,000 ? 529,000 C. 108,000 760,000 d. 626,600 376,240 ? е. 800,000 (100,000) Required: Fill in the amount of the missing element of financial position.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 8SPA: SERIES A PROBLEMS THE ACCOUNTING EQUATION Dr. John Salvaggi is a chiropractor. As of December 31, he...

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Q1. Presented here are the accounts of KPMS Delivery for the year ended December 31, 2018. Owner investment,2018 $ 32,000 Land $ 7,000 Accounts payable $ 14,000 Notes payable $ 30,000 Accounts receivable $ 1,700 Property tax expense $ 2,900 Advertising expense $ 17,000 KPMS, drawing $ 32,000 Building $ 137,900 Rent expense $ 13,000 Cash $ 6,000 Salary expense $ 69,000 Equipment $ 17,000 Salary payable $ 500 Insurance Expense $ 2,000 Service revenue $ 192,000 Interest Expense $ 6,000 Supplies $ 8,000 KPMS, Capital 12/31/2018 $ 51,000 Requirements: Prepare KPMS Delivery’s income statement. (3 Marks) Prepare the statement of owner’s equity. (3 Marks) Prepare the balance sheet. (3 Marks) Answer these…
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