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The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances: Merchandise Inventory 4,300,000 1,600,000 2,400,000 Land Building Furniture and Equipment Trade Accounts Receivable 700,000 1,240,000 Trade Accounts Payable Trade Notes Payable Notes Payable - BPI Mortgage Payable - BDO Sales 680,000 1,000,000 400,000 1,000,000 3,710,000 1,360,000 92,000 54,000 93,288 Salaries Expense Taxes and Licenses Insurance Expense Repairs Expense Your examination revealed that the cost of merchandise sold was 65% of sale. Based on the foregoing, answer the following questions:

The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances: Merchandise Inventory 4,300,000 1,600,000 2,400,000 Land Building Furniture and Equipment Trade Accounts Receivable 700,000 1,240,000 Trade Accounts Payable Trade Notes Payable Notes Payable - BPI Mortgage Payable - BDO Sales 680,000 1,000,000 400,000 1,000,000 3,710,000 1,360,000 92,000 54,000 93,288 Salaries Expense Taxes and Licenses Insurance Expense Repairs Expense Your examination revealed that the cost of merchandise sold was 65% of sale. Based on the foregoing, answer the following questions:

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 11P: Net Income and Comprehensive Income At the beginning of 2019, JR Companys shareholders equity was as...
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The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances:
Your examination revealed that the cost of merchandise sold was 65% of sale.
Based on the foregoing, answer the following questions:

How much is the total payment of purchases during the year? 

A. 5,031,500

B. 3,198,500

C. 2,620,000

D. 1,680,000

How much is the total cash disbursements during the year?

A. 6,299,288

B. 6,630,788

C. 5,031,500

D. 11,330,788

How much is the cash accountability at 12/31/2022?

A. 7,570,712

B. 1,139,212

C. 8,838,500

D. 2,539,212

The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances: Merchandise Inventory 4,300,000 1,600,000 2,400,000 Land Building Furniture and Equipment Trade Accounts Receivable 700,000 1,240,000 Trade Accounts Payable Trade Notes Payable Notes Payable - BPI Mortgage Payable - BDO Sales 680,000 1,000,000 400,000 1,000,000 3,710,000 1,360,000 92,000 54,000 93,288 Salaries Expense Taxes and Licenses Insurance Expense Repairs Expense Your examination revealed that the cost of merchandise sold was 65% of sale. Based on the foregoing, answer the following questions:
Transcribed Image Text:The Bountiful Company was organized on January 3, 2022 with a share capital fully paid up of P 10,000,000. At December 31, 2022, the general ledger of said company showed the following accounts and balances: Merchandise Inventory 4,300,000 1,600,000 2,400,000 Land Building Furniture and Equipment Trade Accounts Receivable 700,000 1,240,000 Trade Accounts Payable Trade Notes Payable Notes Payable - BPI Mortgage Payable - BDO Sales 680,000 1,000,000 400,000 1,000,000 3,710,000 1,360,000 92,000 54,000 93,288 Salaries Expense Taxes and Licenses Insurance Expense Repairs Expense Your examination revealed that the cost of merchandise sold was 65% of sale. Based on the foregoing, answer the following questions:
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