Learning Task 2: Read carefully the following situation and determine the A sets, Liabilities, and Equality of this situation. Write your answer in your note book. The business was put up from a cash of P200,000, the initial capital of the owner Then, P40,000 of the cash was used to purchase an equipment to be used in busi- ness. The purchase of equipment resulted in a liability of P20,000. How much an the total assets of the business? Solutions: PIVOT 4A CALABARZON 20

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter2: Financial Statements, Cash Flow, And Taxes
Section: Chapter Questions
Problem 14SP
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Question
260
Unearieu Imu
580
Miscellaneous Expense
EQUITY
590
Losses
310
Owner's Capital
E
Owner's Drawing
320
Learning Task 2: Read carefully the following situation and determine the
sets, Liabilities, and Equality of this situation. Write your answer in your ote
book.
The business was put up from a cash of #200,000, the initial capital of the owner.
Then, P40,000 of the cash was used to purchase an equipment to be used in busi-
ness. The purchase of equipment resulted in a liability of P20,000. How much are
the total assets of the business?
Solutions:
PIVOT 4A CALABARZON
20
Transcribed Image Text:260 Unearieu Imu 580 Miscellaneous Expense EQUITY 590 Losses 310 Owner's Capital E Owner's Drawing 320 Learning Task 2: Read carefully the following situation and determine the sets, Liabilities, and Equality of this situation. Write your answer in your ote book. The business was put up from a cash of #200,000, the initial capital of the owner. Then, P40,000 of the cash was used to purchase an equipment to be used in busi- ness. The purchase of equipment resulted in a liability of P20,000. How much are the total assets of the business? Solutions: PIVOT 4A CALABARZON 20
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