The statement of realization and liquidation of ABC Corp are as follows:

Assets to be realized P1,800,000

Assets acquired 300,000

Assets realized 1,100,000

Assets not realized 1,200,000

Liabilities liquidated 1,600,000

Liabilities not liquidated P1,400,000

Liabilities assumed 1,500,000

Liabilities to be liquidated 2,000,000

Supplementary credits 1,950,000

Supplementary charges 2,500,000

Additional ordinary shares issued for cash during the year totaled P500,000. 

What is the ending balance of cash account assuming that Ordinary Share, beginning is P1,500,000 and deficit, ending is P400,000?

Answer rating: 100% (QA)

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