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The total assets of X firm is P350,000 of which P50,000 is accounts receivable. Subsequently, P22,500 of accounts receivable was collected. What is the new balance of its total assets? a. P377,500 b. P322,000 c. P350,000 d. P400,000   2) The net asset (capital of Y) was P125,000. An account

The total assets of X firm is P350,000 of which P50,000 is accounts receivable. Subsequently, P22,500 of accounts receivable was collected. What is the new balance of its total assets? a. P377,500 b. P322,000 c. P350,000 d. P400,000   2) The net asset (capital of Y) was P125,000. An account

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 11MCQ: Chasse Building Supply Inc. reported net cash provided by operating activities of $243,000, capital...
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1) The total assets of X firm is P350,000 of which P50,000 is accounts receivable. Subsequently, P22,500 of accounts receivable was collected. What is the new balance of its total assets?

a. P377,500
b. P322,000
c. P350,000
d. P400,000
 
2) The net asset (capital of Y) was P125,000. An account payable of P11,700 was paid. What is the new balance of Y’s net asset? 
a. P136,700
b. P133,300
c. P125,000
d. P101,600
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