Refer to the following data of SG Company: Assets to be realized 1,375,000 Liabilities liquidated 1,875,000 Assets acquired 825,000 Liabilities not liquidated 1,700,000 Assets realized 1,200,000 Liabilities to be liquidated 2,250,000 Assets not realized 1,375,000 Supplementary charges 3,125,000 Liabilities assumed 1,625,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively. A. P1,325,000 b. P1,475,000 c. P2,075,000 d. P1,450,000

Refer to the following data of SG Company: Assets to be realized 1,375,000 Liabilities liquidated 1,875,000 Assets acquired 825,000 Liabilities not liquidated 1,700,000 Assets realized 1,200,000 Liabilities to be liquidated 2,250,000 Assets not realized 1,375,000 Supplementary charges 3,125,000 Liabilities assumed 1,625,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively. A. P1,325,000 b. P1,475,000 c. P2,075,000 d. P1,450,000

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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Refer to the following data of OCT2023CPACompany: Assets to be realized 1,375,000Assets acquired 825,000 Liabilities liquidated 1,875,000Assets realized 1,200,000Liabilities not liquidated 1,700,000 Assets not realized 1,375,000Llabilities assumed 1,625,000Llabilities to be liquidated 2,250,000 Supplementary charges 3,125,000 Supplementary credits 2,800,000 Compute the beginning cash balance assuming that the ending balance of ordinary share and retained earnings are P1,200,000 and (400,000), respectively
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Swifty Corporation’s comparative balance sheets are presented below. SWIFTY CORPORATIONBalance SheetsDecember 3120222021Cash$12,500 $6,100 Accounts receivable18,400 26,600 Inventory13,200 10,200 Land34,200 30,200 Building76,200 76,200 Accumulated depreciation(17,200) (14,200)Total137,300 135,100 Accounts payable19,500 33,300 Common stock ($5 par)74,500 74,500 Retained earnings43,300 27,300 Total137,300 135,100 Swifty’s 2022 income statement included net sales of $122,000, cost of goods sold of $82,000, and net income of $31,000. Compute the following ratios for 2022. (Round Debt to total assets ratio to 1 decimal place, e.g 1.8 and all percentage and days answers to 0 decimal places, e.g 18 or 25% and all other answers to 2 decimal places, e.g. 1.83) (a)Current ratioenter the ratio rounded to 2 decimal places
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