Answer to Question #245331 in Accounting for nicole

Question

1. The Creep Company has the following accounts in year-end 2020.  
2. Kindly prepare the Statement of financial position.

a. ACCOUNT FORMS

b. REPORT FORMS.

 

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 ? 

 

 

Answer 1

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