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At how much should the salaries payable would be

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Q1. Company are asking you to evaluate the accounts and look for the missing amount. The following are the data available upon examining; the Current Assets is P260,000, Current Liabilities P 200,000, Owner's Equity is P450,000. How much is the Property Plant and Equipment?

a. P650,000

b. P390,000

c. P450,000

d. P460,000

Q2. ABC Company are asking you to evaluate the accounts and look for the missing amount. The following are the data available upon examining; Cash P250,000, Accounts Receivable P50,000, Property Plant and Equipment P500,000, Accounts Payable P50,000, and Owner's Equity of P450,000. Salaries Payable are not recorded. At how much should the salaries payable would be?

a. P500,000

b. P400,000

c. P300,000

c. P250,000

Q3. What is the correct accounting equation? (Analyze carefully).

a. Assets = Liabilities + Capital + Expenses

b. Assets = Liabilities - Owner's Equity

c. Assets = Liabilities + Capital - Expenses

d. Liabilities = Assets + Owner's Equity

Reference no: EM132895858

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