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You are given the following account balances as at year-end: Accounts Receivable: ₱36,000 Accumulated Depreciation – Store Furniture and Equipment: ₱13,750 Allowance for Doubtful Accounts: ₱19,000 Cash: ₱126,694 Depreciation Expense – Store Furniture and Equipment: ₱5,500 Doubtful Accounts Expense: ₱11,000 Merchandise Inventory: ₱24,237 Office Supplies: ₱5,094 Store Furniture and Equipment: ₱44,000 Store Supplies: ₱9,996 How much is total assets at year-end?

You are given the following account balances as at year-end: Accounts Receivable: ₱36,000 Accumulated Depreciation – Store Furniture and Equipment: ₱13,750 Allowance for Doubtful Accounts: ₱19,000 Cash: ₱126,694 Depreciation Expense – Store Furniture and Equipment: ₱5,500 Doubtful Accounts Expense: ₱11,000 Merchandise Inventory: ₱24,237 Office Supplies: ₱5,094 Store Furniture and Equipment: ₱44,000 Store Supplies: ₱9,996 How much is total assets at year-end?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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You are given the following account balances as at year-end:

  • Accounts Receivable: ₱36,000
  • Accumulated Depreciation – Store Furniture and Equipment: ₱13,750
  • Allowance for Doubtful Accounts: ₱19,000
  • Cash: ₱126,694
  • Depreciation Expense – Store Furniture and Equipment: ₱5,500
  • Doubtful Accounts Expense: ₱11,000
  • Merchandise Inventory: ₱24,237
  • Office Supplies: ₱5,094
  • Store Furniture and Equipment: ₱44,000
  • Store Supplies: ₱9,996

How much is total assets at year-end?

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