Reference no: EM133113543
Question - Answer the following questions
a. BBB Medical Clinic has assets equal to P6,150,000 and liabilities equal to P2,650,000. Before year-end cash was borrowed from the bank amounting to P1,500,000 half of which was used to buy equipment and the other half to pay for the liabilities which were already past due. What is the total equity of BBB at year-end?
b. At the beginning of the year, FFF Company's assets are P2,200,000 and its equity is P1, 150,000. During the year, assets increase by P700,000 and liabilities increase by P300,000. What is equity at the end of the year?
c. At the beginning of the year, New Wave Company's liabilities equal to P660,000. During the year, assets increase by P800,000 and at year-end assets are equal to P2,180,000. Liabilities decrease by P100,000 during the year. What are the beginning and ending amounts of equity?
|
The aftermath of the currency crisis
: The currency crisis of Asia was severe but gladly it was short lived. It had not exerted a long-lasting impact on the economies of affected countries (Dunn, 200
|
|
Case-rolls-royce exposure to exchange risk
: Rolls-Royce, a UK-based company, sold 15 engines to the American company, Boeing, for $2 million each.
|
|
Prepare a journal entry to record the stock dividend
: Pronghorn Corporation has outstanding 275,000 common shares that were issued at $8 per share. Prepare a journal entry to record the stock dividend
|
|
Calculate the expected return of john portfolio
: John Mattock is considering constructing a portfolio of two assets - Thermal Ltd shares and Kinetic Ltd shares. He wants to invest $5,250 in Thermal Ltd shares
|
|
What is the total equity of BBB at year-end
: BBB Medical Clinic has assets equal to P6,150,000 and liabilities equal to P2,650,000. What is the total equity of BBB at year-end
|
|
What amount of net income will Cherokee Company report
: Cherokee Company began operations when it issued common stock for $112,000 cash. What amount of net income will Cherokee Company report
|
|
Discuss and quantify the damages Frank
: Discuss and quantify the damages Frank is likely to recover and why - The audio visual system was supplied and installed and is maintained by AllTech Pty Ltd
|
|
Prepare the journal entries that Squeaky Shine would record
: Prepare the journal entries that Squeaky Shine would record on December 1 and on December 31, 2021, with respect to this points transaction
|
|
Determine the cost of goods completed and transferred out
: Kramer incurred $68,900 in direct materials costs, $7,180 in direct labor costs, Determine the cost of goods completed and transferred out
|