Reference no: EM133007144
Villanueva Realty had the following balance sheet accounts and balances:
Accounts Payable P60,000 Equipment P70,000
Accounts Receivable 10,000 Arlyn V., Capital ?
Building ? Land 70,000
Cash 30,000
Problem 1: If the balance of the Villanueva, Capital account was P210,000, what would be the balance of the Building account?
a. P250,000
b. P40,000
c. P90,000
d. P210,000
Problem 2: If the balance of the Building account was P170,000, what would be the total of liabilities and owner's equity?
a. P170,000
b.P270,000
c. P320,000
d. P350,000
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