FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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- Selected accounts from Han Corporation’s trial balance are as follows. Prepare a partial balance sheet listing only the Fixed Assets section. Han Corporation Abbreviated Trial Balance December 31, 2020 Account Name (Acct. #) Debit Balances Credit Balances Cash 150,000 Short-term Marketable Securities 145,000 Accounts Receivable 26,000 Inventories 90,000 Other Current Assets 10,000 Land 350,000 Buildings 300,000 Accumulated Depreciation: Buildings 40,000 Equipment 145,000 Accumulated Depreciation: Equipment 150,000 Goodwill 40,000 Other Intangible Assets 20,000arrow_forwardharrow_forwardDon't answer in imagearrow_forward
- I need help with this question for accounting.arrow_forward3. The balance in Viray Company's accounts payable account at December 31, 2021 was P900,000, before any necessary year-end adjustment relating to the following: a. Goods in transit from a vendor to Viray on December 31, 2021. The invoice cost was P50,000, and the goods were shipped FOB Shipping point on December 29, 2021. The goods were received on January 4, 2022. b. Goods shipped FOB shipping point on December 20, 2021 from a vendor to Viray was lost in transit. The invoice cost was P25,000. On January 5, 2022, Viray filed a P25,000 claim against the common carrier. c. On December 31, 2021, Viray has a P20,000 debit balance in accounts payable to a supplier resulting from an advance payment for goods to be manufactured. What amount should be reported as accounts payable on its December 31, 2021 financial statement?arrow_forward
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