JCV Company's records show the following information: ... December 31, 2018 100,000 December 31, 2019 Cash 150,000 Accounts Receivable 150,000 (3) Merchandise Inventory Equipment, net (1) 900,000 300,000 (2) 150,000 260,000 250,000 1,000,000 Land (4) Trade accounts payable Accrued expenses Non-current liabilities 450,000 (5) (6) Additional information are as follows: • Working capital of the Company amounted to P50,000 as of December 31, 2018, and increased to P70,000 as of December 31, 2019, respectively. A piece of land costing P100,000 were sold during 2019. There were no other changes in the owner's equity during 2019 other than the net income or net loss. Total liabilities as of December 31, 2018 amounted to P710,000 while total assets as of December 31, 2019 amounted to P1,900,000. Total revenues amounted to P150,000 while total expenses amounted to P165,000.
JCV Company's records show the following information: ... December 31, 2018 100,000 December 31, 2019 Cash 150,000 Accounts Receivable 150,000 (3) Merchandise Inventory Equipment, net (1) 900,000 300,000 (2) 150,000 260,000 250,000 1,000,000 Land (4) Trade accounts payable Accrued expenses Non-current liabilities 450,000 (5) (6) Additional information are as follows: • Working capital of the Company amounted to P50,000 as of December 31, 2018, and increased to P70,000 as of December 31, 2019, respectively. A piece of land costing P100,000 were sold during 2019. There were no other changes in the owner's equity during 2019 other than the net income or net loss. Total liabilities as of December 31, 2018 amounted to P710,000 while total assets as of December 31, 2019 amounted to P1,900,000. Total revenues amounted to P150,000 while total expenses amounted to P165,000.
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
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
Section: Chapter Questions
Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...
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Total capital as of December 31, 2019 amounted to PBlank 1.
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