Refer to the following transactions for the next three questions. (Note: The following information will also be needed to answer questions no. 11 and 12. You may want to take a picture or write it on a paper.) Inventory of P 300,000 is bought on credit Equipment costing P 3,000,000 was purchased which was financed by a loan from the bank repayable in 5 years. Paid P 100,000 to accounts payable. Issued P 4,000,000 of shares to shareholders. 11. By how much will total assets increased? а. Р3,200,000 b. P7,200,000 c. P3.000.000 d. P4,200,000 12. What is the increase in shareholders' equity? а. Р4,300.000 b. P7,000.000 c. P6.300.000 d. P4,000 000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Refer to the following transactions for the next three questions. (Note: The following information will
also be needed to answer questions no. 11 and 12. You may want to take a picture or write it on a
рaper.)
Inventory of P 300,000 is bought on credit
Equipment costing P 3,000,000 was purchased which was financed by a loan from the bank repayable in
5 years.
Paid P 100,000 to accounts payable.
Issued P 4,000,000 of shares to shareholders.
11. By how much will total assets increased?
а. Р3,200,000
b. P7,200,000
с. Р3.000.000
d. P4,200,000
12. What is the increase in shareholders' equity?
а. Р4,300.000
b. P7,000.000
С. Р6.300.000
d. P4,000 000
Transcribed Image Text:Refer to the following transactions for the next three questions. (Note: The following information will also be needed to answer questions no. 11 and 12. You may want to take a picture or write it on a рaper.) Inventory of P 300,000 is bought on credit Equipment costing P 3,000,000 was purchased which was financed by a loan from the bank repayable in 5 years. Paid P 100,000 to accounts payable. Issued P 4,000,000 of shares to shareholders. 11. By how much will total assets increased? а. Р3,200,000 b. P7,200,000 с. Р3.000.000 d. P4,200,000 12. What is the increase in shareholders' equity? а. Р4,300.000 b. P7,000.000 С. Р6.300.000 d. P4,000 000
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