QDR Company's records show the following information: Cash Accounts Receivable Prepaid Expenses Equipment ■ Land Trade Accounts Payable Accrued Expenses Non-current liabilities January 1, 2019 P 70,000 (1) 50,000 400,000 (2) 110,000 (3) 540,000 December 31, 2019 P 130,000 110,000 Additional information are as follows: Total assets and capital as of December 31, 2018 amounted to P850,000 and P150,000, respectively. As of December 31, 2018, working capital of the Company amounted to P40,000, which is P10,000 higher than the working capital as of December 31, 2019. 600,000 (5) 230,000 70,000 250,000 A piece of land costing P80,000 were sold during 2019. Total revenues amounted to P250,000 while total expenses amounted to P95,000. Total withdrawals amounted to P15,000 in 2019.
QDR Company's records show the following information: Cash Accounts Receivable Prepaid Expenses Equipment ■ Land Trade Accounts Payable Accrued Expenses Non-current liabilities January 1, 2019 P 70,000 (1) 50,000 400,000 (2) 110,000 (3) 540,000 December 31, 2019 P 130,000 110,000 Additional information are as follows: Total assets and capital as of December 31, 2018 amounted to P850,000 and P150,000, respectively. As of December 31, 2018, working capital of the Company amounted to P40,000, which is P10,000 higher than the working capital as of December 31, 2019. 600,000 (5) 230,000 70,000 250,000 A piece of land costing P80,000 were sold during 2019. Total revenues amounted to P250,000 while total expenses amounted to P95,000. Total withdrawals amounted to P15,000 in 2019.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 89E: Ratio Analysis Rising Stars Academy provided the following information on its 2019 balance sheet and...
Related questions
Question
100%
Need Extra Help. Thank you!
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
How much would be the Additional Investments made in 2019?
Solution
by Bartleby Expert
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning