The following were taken from the books of Amihan Company: Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets P 500,000 120.000 750,000 56.000 65,000 100,000 77.000 ? 15.345 244.000 56.700 37.890 157,840 124.500 Prepare a classified SFP given the following additional information: (ACCOUNT FORM) a. Notes Payable is due 6 months from now. b. Notes Receivable is collectible 9 months from now. c. Prepaid Expenses is current. d. Date of SFP, December 31, 2020

The following were taken from the books of Amihan Company: Long-term Payable Notes Payable Property. Plant and Equipment Accounts Receivable Accounts Payable Accumulated Depreciation Cash Owner's Capital Unearned Income Notes Receivable Prepaid Expenses Accrued Expenses Inventory Intangible Assets P 500,000 120.000 750,000 56.000 65,000 100,000 77.000 ? 15.345 244.000 56.700 37.890 157,840 124.500 Prepare a classified SFP given the following additional information: (ACCOUNT FORM) a. Notes Payable is due 6 months from now. b. Notes Receivable is collectible 9 months from now. c. Prepaid Expenses is current. d. Date of SFP, December 31, 2020

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.2.1MBA

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