question assets current assets cash 270000 accounts receivables 390000 allowance for 4305510

question assets current assets cash 270000 accounts receivables 390000 allowance for 4305510

Question

ASSETS Current Assets: Cash 270000 Accounts receivables 390000 Allowance for doubtful accounts 5000 385000 Inventories 350000 Prepaid rent 5000 Total current assets 1010000 Non-Current Assets: Land 20000 Building 1500000 200000 1300000 Accumulated depreciation Machinery 300000 40000 260000 Accumulated depreciation Equipment 100000 10000 90000 Accumulated depreciation Patent 50000 Goodwill 40000 1860000 Total non-current assets TOTAL ASSETS 2870000 TOTAL LIABILITIES & EQUITY Current liabilities: Accounts payable 140000 Notes payable, Short term 75000 Income tax payable 70000 Accrued expenses 55000 340000 Total current liabilities Non-Current liabilities: Mortgage notes 420000 Bank loan 240000 Total Non-current liabilities 660000 Total liabilities 1000000 Shareholders' equity: Common stock, Php100 par value Premium on common stock 300000 Retained earnings-appropriated 200000 Retained cannings-unappropriated 400000 1900000 Less: Treasury stock 30000 total Shareholders' equity 1870000 TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 2870000

 

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