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- Owner's equity is OR150,000 and total liabilities are OR90,000. Total assets would be: Select one: a. OR60,000. O b. OR300,000. O c. OR240,000. O d. OR180,000.compute the owner's equity for norman gonzales on dec. 31,20X1 based on the fallowing data; norman gonzales ,capital january 1 ,20X1 P450 000 norman gonzales, cash drawings for 20X1 120 000 norman gonzales. additional investment 20X1 80 000 net income 20X1 90 000PLS HELP ASAP The balance sheet of Sunrise Company shows that capital P360,000 is equal to ⅓ of its total assets. How much is total liabilities? a. P480,000 b. P720,000 c. P1,080,000 d. P120,000
- On May 1, 20x1, the statement of financial position of Juan and Pablo appear below:Juan PabloCash 22,000 44,708Accounts receivable 469,072 1,135,780Inventories 240,070 520,204Land 1,206,000Building 856,534Furniture and fixtures 100,690 69,578Other assets 4,000 7,200Total assets 2,041,832 2,634,004Accounts payable 357,880 487,300Notes payable 400,000 690,000Juan, Capital 1,283,952Pablo, Capital 1,456,704Total liabilities and equity 2,041,832 2,634,004Juan and Pablo agreed to form a partnership contributing their respective assets and equities subject to thefollowing adjustments:a. Accounts receivable of P40,000 in Juan’s books and P70,000 in Pablo’s books are uncollectible.b. Inventories of P11,000 and P13,400 are worthless in Juan’s and Pablo’s respective books.c. Other assets of P4,000 and P7,200 in Juan’s and Pablo’s respective books are to be written off. 3. Prepare journal entry to record Pedro’s admission. 4. During the first year of operations, the partnership earned P650,000.…On May 1, 20x1, the statement of financial position of Juan and Pablo appear below:Juan PabloCash 22,000 44,708Accounts receivable 469,072 1,135,780Inventories 240,070 520,204Land 1,206,000Building 856,534Furniture and fixtures 100,690 69,578Other assets 4,000 7,200Total assets 2,041,832 2,634,004Accounts payable 357,880 487,300Notes payable 400,000 690,000Juan, Capital 1,283,952Pablo, Capital 1,456,704Total liabilities and equity 2,041,832 2,634,004Juan and Pablo agreed to form a partnership contributing their respective assets and equities subject to thefollowing adjustments:a. Accounts receivable of P40,000 in Juan’s books and P70,000 in Pablo’s books are uncollectible.b. Inventories of P11,000 and P13,400 are worthless in Juan’s and Pablo’s respective books.c. Other assets of P4,000 and P7,200 in Juan’s and Pablo’s respective books are to be written off.Required:1. What are the adjusted capital balances of the partners after formation? 2. Pedro offered to join for a 20% interest in…Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ? Noncurrent assets 4,000,000 ? Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1. - Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year.How much is the total noncurrent liabilities as of January 1, 20x1?a. 2,600,000b. 2,800,000c. 3,200,000d. 3,400,000
- Use the following information for the next three questions:The ledger of COLTISH UNDISCIPLINED Co. in 20x1 includes the following:Jan. 1, 20x1 Dec. 31, 20x1Current assets 1,200,000 ?Noncurrent assets 4,000,000 ?Current liabilities 900,000 1,000,000Noncurrent liabilities ? 3,000,000 Additional information:- COLTISH’s working capital as of December 31, 20x1 is twice as much as the working capital as of January 1, 20x1.- Total equity as of January 1, 20x1 is ₱1,700,000. Profit for the year is ₱2,400,000 while dividends declared amounted to ₱1,000,000. There were no other changes in equity during the year. How much is the total current assets as of December 31, 20x1?a. 1,600,000b. 800,000c. 300,000d. 2,200,000T Provided below is the information from the QPR property and casualty insurance company: (000'$) Premiums Written 157,500.00 Loss Adjustment Expenses 10,340.00 Underwriting Expenses 52,500.00 Premiums Earned 187,500.00 Incurred Losses 113,750.00 Interest expense on bonds 1,400.00 Interest and dividend income 4,000.00 Questions: For 2021 (show your calculations): 1) Calculate the loss ratio 2) Calculate the expense ratio 3) Calculate the operating ratio 4) Calculate the investment ratio 5) Was the company profitable without the investment income? 6) Was the company profitable overall? Why?From the following particulars, prepare a balance sheet of HME Sdn Bhd as at 30Jun 2022Capital RM80,000Goodwill RM20,000Prepaid Expenses RM10,000Investment RM20,000Debtors RM6,400Creditors RM14,200Loan from bank RM20,000Cash at bank RM17,200Furniture RM5,665 mango and oil RM50,000Outstanding Expenses RM10,000Net profit RM21,300General reserve RM1,000Closing stock RM14,800Bills Receivable RM25,000Bills Payable RM20,000Advance Income RM5,000Drawings RM4,400
- In column A, identify the account to which element it belongs whether Current Asset (CA), Noncurrent Assets (NCA), Current Liabilities (CL), Noncurrent liabilities (NCL) or Shareholders’ equity (SHE). In column B, indicate the line item to which the account belongs. Column A Column B1. Share Capital2. Accounts Payable 3. Plant Expansion Fund4. Trading Securities 5. Employees income tax payable6. Goodwill 7. Raw Materials8. Share Premium 9. Advances from customers 10. Serial bonds not collectible currently 11. Investment in Bonds 12. Notes Payable 13. Prepaid Insurance 14. Income Tax Payable 15. LandAccount Title Ch. remainder Believer. remainder Furniture 15.000 Damped Furniture 1.200 Goods 4.000 Domestic Customers 21.000 Promissory notes in the portfolio 6.800 Shares Listed on the Stock Exchange 10.750 Current Deposits in Euro 2.000 Paid-in Share Capital 39.000 Regular reserve 6.000 Long-term bank loans 10.000 Domestic Suppliers 4.000 Promissory notes payable in euro 4.300 Bank A- short-term loan account 5.000 Dividends payable 900 Insurance Organizations (EFKA) 800 Staff Remuneration 26.000 Employer's contributions and personnel charges 9.000 Telecommunications 2.000 Rentals 1.500 Premiums 600 Third Party Facilities (lighting - water supply) 3.100 Travel expenses 900 Promotional and Advertising Expenses 2.500 Interest on Long-term Liabilities 1.800 Furniture depreciation…Account Title Ch. remainder Believer. remainder Furniture 15.000 Damped Furniture 1.200 Goods 4.000 Domestic Customers 21.000 Promissory notes in the portfolio 6.800 Shares Listed on the Stock Exchange 10.750 Current Deposits in Euro 2.000 Paid-in Share Capital 39.000 Regular reserve 6.000 Long-term bank loans 10.000 Domestic Suppliers 4.000 Promissory notes payable in euro 4.300 Bank A- short-term loan account 5.000 Dividends payable 900 Insurance Organizations (EFKA) 800 Staff Remuneration 26.000 Employer's contributions and personnel charges 9.000 Telecommunications 2.000 Rentals 1.500 Premiums 600 Third Party Facilities (lighting - water supply) 3.100 Travel expenses 900 Promotional and Advertising Expenses 2.500 Interest on…
