Analysis of the cash account

Reference no: EM131189407

Questions - A detailed analysis of the cash account shows the following debits and credits:

(Equipment disposed of has an original cost of P60,000 and corresponding accumulated depreciation of P10,000 as of that time.)

Required:

1. Reversing entries as of January 1, 2016.

2. Journal entries to record the transactions completed during the year.

3. Adjusting entries as of December 31, 2016.

Reference no: EM131189407

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