The following items are taken from the records of A-1 Merchandising Items: Ameunt Items Amount 1....

  

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The following items are taken from the records of A-1 Merchandising Items: Ameunt Items Amount 1. Merchandise inventory P50,000 14. Purniture & fixture P6,000 2. Accounts receivable 15. Accum. Depreciation- Store building 30,000 5,000 3. Worthless receivable 500 16. Sales (80% cash) 200,000 4. Prepaid rent 8,000 17. Accum. Depreciation- Purniture and fixture 5. Obsolete mnerchandise 1,000 600 6. Rent expense 4,000 18. Depreciation expense 3,300 7. Notes receivable 10,000 19 Cash 25,000 8. Accrued interest receivable 20. Accounts payable 15,000 200 21. Withholding tax payable 4,200 9. Unused supplies 1,200 22. Notes payable (20% 60,000 current) 10. Used supplies H00 19. Accrued interest payable 900 11. Land 100,000 20. Interest income 200 12. Stote building 50,000 21. Interest expense 1,200 13. Owner's equity 22, Owner's drawings 5,000 Required: 1. Identify or classify the items as to whether they belong to the Assets, Liabilities, Owner's Equity, Revenue, or Expenses of the business. 2. Pill the amounts of the following SFP elements: Current assets: Noncurrent assets: Current liabilities Noncurrent liabilities: Owner's capital: The following items are taken from the records of A-1 Merchandising Items: Ameunt Items Amount 1. Merchandise inventory P50,000 14. Purniture & fixture P6,000 2. Accounts receivable 15. Accum. Depreciation- Store building 30,000 5,000 3. Worthless receivable 500 16. Sales (80% cash) 200,000 4. Prepaid rent 8,000 17. Accum. Depreciation- Purniture and fixture 5. Obsolete mnerchandise 1,000 600 6. Rent expense 4,000 18. Depreciation expense 3,300 7. Notes receivable 10,000 19 Cash 25,000 8. Accrued interest receivable 20. Accounts payable 15,000 200 21. Withholding tax payable 4,200 9. Unused supplies 1,200 22. Notes payable (20% 60,000 current) 10. Used supplies H00 19. Accrued interest payable 900 11. Land 100,000 20. Interest income 200 12. Stote building 50,000 21. Interest expense 1,200 13. Owner's equity 22, Owner's drawings 5,000 Required: 1. Identify or classify the items as to whether they belong to the Assets, Liabilities, Owner's Equity, Revenue, or Expenses of the business. 2. Pill the amounts of the following SFP elements: Current assets: Noncurrent assets: Current liabilities Noncurrent liabilities: Owner's capital: