Note pay is estimated to be 75% realizable ➤ A mortgage payable of P192,500 is secured by building valued at P35,000 less than its carrying amount of P230,000 ➤ Assets not mentioned above have estimated value of P62,500, an amount that is P15,000 above carrying amount ➤ Total liabilities not mentioned above total p96,000, including claims with priority of P18,500

Note pay is estimated to be 75% realizable ➤ A mortgage payable of P192,500 is secured by building valued at P35,000 less than its carrying amount of P230,000 ➤ Assets not mentioned above have estimated value of P62,500, an amount that is P15,000 above carrying amount ➤ Total liabilities not mentioned above total p96,000, including claims with priority of P18,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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