A Statement of Realization and Liquidation has been prepared for Promise Fulfilled Company. The totals are given below:
Posted: Mon May 30, 2022 8:18 am
A Statement of Realization and Liquidation has been prepared for Promise Fulfilled Company. The totals are given below:
Assets to be realized 60,000 Liabilities assumed 50,000
Assets acquired 40,000 Liabilities not liquidated 65,000
Assets not realized 80,000 Supplementary credits 110,000
Liabilities to be liquidated 80,000 Supplementary charges ?
Retained earnings increased by P25,000. The beginning balance of Share Capital and Retained Earnings are P100,000 and (P40,000), respectively.
How much is the ending cash balance?
Assets to be realized 60,000 Liabilities assumed 50,000
Assets acquired 40,000 Liabilities not liquidated 65,000
Assets not realized 80,000 Supplementary credits 110,000
Liabilities to be liquidated 80,000 Supplementary charges ?
Retained earnings increased by P25,000. The beginning balance of Share Capital and Retained Earnings are P100,000 and (P40,000), respectively.
How much is the ending cash balance?