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    Justine gaile Ugaddan
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    XYZ Company's Statement of Financial Position as of December 31, 2019 shows total assets of $1,270,400 consisting of current assets of $368,400 including cash of $225,000 and noncurrent assets of $902,000 including buildings of $650,000. Total liabilities are $309,000 consisting of current liabilities of $278,500 including accounts payable of $161,000 and owner's equity of $961,400 held by the sole owner Umapas Capital.

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    XYZ Company's Statement of Financial Position as of December 31, 2019 shows total assets of $1,270,400 consisting of current assets of $368,400 including cash of $225,000 and noncurrent assets of $902,000 including buildings of $650,000. Total liabilities are $309,000 consisting of current liabilities of $278,500 including accounts payable of $161,000 and owner's equity of $961,400 held by the sole owner Umapas Capital.

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    8 views2 pages

    Quiz 2

    Uploaded by

    Justine gaile Ugaddan
    XYZ Company's Statement of Financial Position as of December 31, 2019 shows total assets of $1,270,400 consisting of current assets of $368,400 including cash of $225,000 and noncurrent assets of $902,000 including buildings of $650,000. Total liabilities are $309,000 consisting of current liabilities of $278,500 including accounts payable of $161,000 and owner's equity of $961,400 held by the sole owner Umapas Capital.

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    of 2

    XYZ Company

    Statement of Financial Position


    as of December 31, 2019

    ASSETS LIABILITIES AND OWNER'S EQU


    Current Assets LIABILITIES
    Cash ₱ 225,000 Current Liabilities
    Account Receivable 109,800 Accounts Payable
    Prepaid Insurance 23,500 Unearned Revenue
    Supplies 10,100 Total Current Liabilities
    Total Current Assets ₱ 368,400 Noncurrent Liabilities
    Noncurrent assets Notes Payable
    Building ₱ 650,000 TOTAL LIABILITIES
    Delivery Vehicle 210,000
    Office Equipment 42,000 OWNER'S EQUITY
    Total Noncurrent Assets ₱ 902,000 Umapas, Capital
    TOTAL ASSETS ₱ 1,270,400 TOTAL LIABILITIES AND OWNER'S EQUITY
    ABILITIES AND OWNER'S EQUITY

    ₱ 161,000
    117,500
    urrent Liabilities ₱ 278,500

    30,500
    ₱ 309,000

    961,400
    ND OWNER'S EQUITY ₱ 1,270,400

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