Multiple Choice Problems

31. P56,900 – refer to No. 30 for computation

32. P72,625 – refer to No. for computation
33. Dividend - P56,900/P72,625 = P.78 – refer to No. 30 for further computation
34. P80,975 – refer to No. 30 for computation
35. P45,160 = P28,000 + (P22,000 x 78%)
36. P3,775
37. P39,487.50 = 78% x (P40,625 + P10,000)

38. P169,397.50
No. 34……………..P 80.975
No. 35…………….. 45,160
No. 36…………….. 3,775
No. 37…………….. 39,487.50
P169,397.50 (discrepancy around P250 plus due to rounding-off)

39. P15,725 – refer to No. 30 or P56,700, estimated net loss – P40,975, owners’ equity

40. P56,700 – refer to No. 30 or P169,650 – P226,350

41. P56,700 (same with No. 40 since there are no unrecorded expenses liabilities)
42. P22,475
Liabilities
Unsecured
Assets Fully Partial With Without Owners'
Cash Noncash Secured Secured Priority Priority Equity
6/1/x5 Balances:
1,850 224,500 80,975 50,000 3,775 50,625 40,975

Cash Receipts:
Securities Sale 16,000 (5,800) 10,200
N/R Collected 15,000 (15,000) 0
Equipment Sale 7,000 (43,000) (36,000)
Inventory Sale 22,000 (41,000) (19,000)
Cash Disbursements:
Bank Loan (10,375) (10,375)
Part Pyt-A/P (29,000) ---------- --------- (50,000) ------- 21,000 ----------
6/30 Balance 22,475 119,700 70,600 0 3,775 71,625 (3,825)

43. P119,700 – refer to No. 42

44. P70,600 – refer to No. 42
45. None – refer to No. 42
46. P3,775 – refer to No. 42
47. P71,625 – refer to No. 42
48. (P3,825) deficit – refer to No. 42