The following data were taken from the Statement of Financial Position of a client Ampil Elises...
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The following data were taken from the Statement of Financial Position of a client Ampil Elises Ciudadano Co., CPAS for the first month of operation: 74 Cash in Bank Accounts Receivable Supplies Inventory Total Assets Assets: Accounts Payable Notes Payable Answer the following questions: Assets Liabilities: Total Liabilities D. Dizon, Capital Total Liabilities & Owner's Equity 2) Calculate how much is: Owner's Equity 1) How much was the cash in bank balance? a) P169,000 b) P189,000 Consider the following additional transactions: 1. 30% was collected from Accounts Receivable; 2. 10% of the Accounts Payable was paid; 3. additional cash investment by Mr. Dizon, P20,000; 4. acquired supplies inventory on credit, P2,000; 5. borrowed money from a bank and issued a note, P50,000. P 120,000 90,000 40,000 P.250,000 Liabilities P 80,000 P 80,000 P 170,000 P 250,000 c) P201,000 d) P209,000 + Owner's Equity. The following data were taken from the Statement of Financial Position of a client Ampil Elises Ciudadano Co., CPAS for the first month of operation: 74 Cash in Bank Accounts Receivable Supplies Inventory Total Assets Assets: Accounts Payable Notes Payable Answer the following questions: Assets Liabilities: Total Liabilities D. Dizon, Capital Total Liabilities & Owner's Equity 2) Calculate how much is: Owner's Equity 1) How much was the cash in bank balance? a) P169,000 b) P189,000 Consider the following additional transactions: 1. 30% was collected from Accounts Receivable; 2. 10% of the Accounts Payable was paid; 3. additional cash investment by Mr. Dizon, P20,000; 4. acquired supplies inventory on credit, P2,000; 5. borrowed money from a bank and issued a note, P50,000. P 120,000 90,000 40,000 P.250,000 Liabilities P 80,000 P 80,000 P 170,000 P 250,000 c) P201,000 d) P209,000 + Owner's Equity.
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