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    The balance sheet of ABC Co. as of December 31, 2009 shows total assets of 2.784 million Philippine pesos including current assets such as cash, accounts receivable, and inventories. Total liabilities are 940,000 pesos consisting of current liabilities like accounts payable and notes payable along with a non-current notes payable. Stockholders' equity contains common stock, additional paid-in capital, and retained earnings totaling 1.844 million pesos.

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    The balance sheet of ABC Co. as of December 31, 2009 shows total assets of 2.784 million Philippine pesos including current assets such as cash, accounts receivable, and inventories. Total liabilities are 940,000 pesos consisting of current liabilities like accounts payable and notes payable along with a non-current notes payable. Stockholders' equity contains common stock, additional paid-in capital, and retained earnings totaling 1.844 million pesos.

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    The balance sheet of ABC Co. as of December 31, 2009 shows total assets of 2.784 million Philippine pesos including current assets such as cash, accounts receivable, and inventories. Total liabilities are 940,000 pesos consisting of current liabilities like accounts payable and notes payable along with a non-current notes payable. Stockholders' equity contains common stock, additional paid-in capital, and retained earnings totaling 1.844 million pesos.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    11 views1 page

    Assets

    Uploaded by

    xenni
    The balance sheet of ABC Co. as of December 31, 2009 shows total assets of 2.784 million Philippine pesos including current assets such as cash, accounts receivable, and inventories. Total liabilities are 940,000 pesos consisting of current liabilities like accounts payable and notes payable along with a non-current notes payable. Stockholders' equity contains common stock, additional paid-in capital, and retained earnings totaling 1.844 million pesos.

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    © All Rights Reserved
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    of 1

    ABC Co.

    Balance Sheet
    As of December 31, 2009

    Assets
    Current assets:
    Cash 550,000
    Investment securities 156,000
    Accounts receivable 974,000
    Less allowance for doubtful accounts (100,000) 874,000
    Inventories 820,000
    Total current assets 2,400,000

    Property and equipment 700,000


    Less accumulated depreciation (316,000) 384,000
    Total assets 2,784,000

    Liabilities & Stockholders' Equity


    Current liabilities:
    Accounts payable 180,000
    Accrued expenses 160,000
    Notes payable-Current Portion 100,000
    Total current liabilities 440,000

    Notes payable - Non-current portion 500,000


    Total liabilities 940,000

    Owners' Equity
    Common stock, 10 par 420,000
    Additional paid-in capital 260,000 680,000
    Retained earnings 1,164,000
    Total liabilities & owners' equity 2,784,000

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