the liabilities to be liquidated on November e. f. Woolworths Company has the following cash as...

 

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the liabilities to be liquidated on November e. f. Woolworths Company has the following cash as well as non-cash assets to be realized and 2018: g. h. 1. The following are transactions of the trustee during its first month of liquidating j. Cash Short term investment Accounts Receivable Inventory Total Assets a. Sale of merchandise on account amount to P100,000 b. Purchase of merchandise on account (perpetual ) amount to P30,000 C. Sale of merchandise for cash in the amount of P500,000 d. Collection from customers amount to P230,000 P100,000 Accounts Payable 300,000 Capital stock 600,000 Deficit n. 1,000,000 P2,000,000 Total Equities P1,300,000 1,000,000 (300,000 P2,000,000 Woolworths Company : Proceeds from the sale of the short term investment amount to P370,000 Received the amount of P3,000 from interest on short term investment Payment to suppliers amount to P700,000 Payment of expenses of trustee amount to P150,000 Accounts receivable in the amount of P30,000 is determined to be uncollectible Remaining amount of receivable from customers will be realized in the following months of liquidating Woolworths Company The merchandise sold on account and for cash has a total cost of P630,000 k. I. Remaining amount of merchandise are available for sale in the following month (s) of liquidating Woolworths Company / m. Remaining amount of liability to suppliers will be paid in the following month (s) of liquidating Woolworths Company Accrued expense amount to P1,750 1. How much is the net income (loss) of the trustee for the month of November ? 2. How much is the balance of cash at the end of November ? 3. How much is the estate equity deficit at the end of November ? 4. How much is the total amount of assets to be realized by December ? 5. How much is the total amount of liabilities to be liquidated by December ? 6. How much is the increase in liabilities liabilities assumed for the month of November ? the liabilities to be liquidated on November e. f. Woolworths Company has the following cash as well as non-cash assets to be realized and 2018: g. h. 1. The following are transactions of the trustee during its first month of liquidating j. Cash Short term investment Accounts Receivable Inventory Total Assets a. Sale of merchandise on account amount to P100,000 b. Purchase of merchandise on account (perpetual ) amount to P30,000 C. Sale of merchandise for cash in the amount of P500,000 d. Collection from customers amount to P230,000 P100,000 Accounts Payable 300,000 Capital stock 600,000 Deficit n. 1,000,000 P2,000,000 Total Equities P1,300,000 1,000,000 (300,000 P2,000,000 Woolworths Company : Proceeds from the sale of the short term investment amount to P370,000 Received the amount of P3,000 from interest on short term investment Payment to suppliers amount to P700,000 Payment of expenses of trustee amount to P150,000 Accounts receivable in the amount of P30,000 is determined to be uncollectible Remaining amount of receivable from customers will be realized in the following months of liquidating Woolworths Company The merchandise sold on account and for cash has a total cost of P630,000 k. I. Remaining amount of merchandise are available for sale in the following month (s) of liquidating Woolworths Company / m. Remaining amount of liability to suppliers will be paid in the following month (s) of liquidating Woolworths Company Accrued expense amount to P1,750 1. How much is the net income (loss) of the trustee for the month of November ? 2. How much is the balance of cash at the end of November ? 3. How much is the estate equity deficit at the end of November ? 4. How much is the total amount of assets to be realized by December ? 5. How much is the total amount of liabilities to be liquidated by December ? 6. How much is the increase in liabilities liabilities assumed for the month of November ?

Answer rating: 100% (QA)

1 Net Income Loss of the trustee for November Net Income Revenue Expenses Revenue P100000 P500000 P6... View the full answer