Answer to Question #245328 in Accounting for samantha

Question

The Creep Company. Presented below are the items to be consolidated for the immediate preparation of the Statement Of Financial Position, for the year 2020.

Accounts Payable  ₱ 600,000 

Unearned Revenue      1,210,000 

Salaries Payable- current 120,000 

Owner’s Withdrawals      280,000 

Owner’s Capital            1,500,000 

Comprehensive Income 3,000,000 

Total Current Assets 80% of total liabilities  

Cash            250,000 

Inventories     480,000 

Prepaid Expenses 600,000

 Property, Plant and Equipment   ? 

Accounts Receivable            ? 

a. Prepare the SFP using the REPORT FORM 

Answer 1

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