An entity has the following assets and liabilities below. Illustrates current and noncurrent assets and current and noncurrent liabilities by identifying the current and noncurrent assets and liabilities. Cash P10,000 Accounts receivable Notes receivable (nontrade) - P30,000 due within 1 year Inventory Prepaid supplies Land Building Accumulated depreciation 20,000 50,000 65,000 5,000 100,000 400,000 (120,000) Accounts payable Accounts payable (nontrade) - P100,000 due within 1 year Rent payable (due within 1 yr) Utilities payable Interest payable Salaries payable Unearned income P30,000 500,000 10,000 5,000 100,000 400,000 120,000

An entity has the following assets and liabilities below. Illustrates current and noncurrent assets and current and noncurrent liabilities by identifying the current and noncurrent assets and liabilities. Cash P10,000 Accounts receivable Notes receivable (nontrade) - P30,000 due within 1 year Inventory Prepaid supplies Land Building Accumulated depreciation 20,000 50,000 65,000 5,000 100,000 400,000 (120,000) Accounts payable Accounts payable (nontrade) - P100,000 due within 1 year Rent payable (due within 1 yr) Utilities payable Interest payable Salaries payable Unearned income P30,000 500,000 10,000 5,000 100,000 400,000 120,000

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter13: Statement Of Cash Flows

Section: Chapter Questions

Problem 13E: Reporting land acquisition for cash and mortgage note on statement of cash flows On the basis of the...

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