1.. Nielson Napila starts with a Repair Shop business in Davao
Added on -2019-09-16
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1.Nielson Napila starts with a Repair Shop business in Davao City. At thebeginning of the period his capital is P350,000 which equalled to hisinvestment. At the end of the period, his capital balance is P450,000 which is60% of total assets. How much represents the total claims from outsidecreditors.2.Determination of Unknown Assets Prepaid Insurance P10,000 Notes Receivable 60,000 Petty Cash Fund 2,000 Accounts Payable 10,000 Accounts Receivable 80,000 Unused Supplies 20,000 Estimated Uncollectible Accounts 1,000 Cash in Bank 30,000 Salaries Payable 15,000 Transportation Equipment 90,000 Accumulated Depreciation 5,000 How much is the total assets?_____________
3.Compute the missing items Merchandise Inventory, beg P220,000 Cost of Sales 270,000 Purchases ________ Total Goods Available for Sale 750,000 Merchandise Inventory, end ________ Purchase Discounts ________ Purchase Returns and Allowances ________4.The partial trial balance of A. Basarte Merchandising for the year endedDecember 2012 is given below: Debit Credit
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