Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. cash overdraft ( 200,000) property, plant and equi

Cash overdraft ( 200,000) Property, plant and equipment, net 1,900,000 Accounts receivable, net 700,000 Accounts...

90.2K

Verified Solution

Question

Accounting

Cash overdraft ( 200,000) Property, plant and equipment, net 1,900,000 Accounts receivable, net 700,000 Accounts payable 700,000 Inventory 1,200,000 Share capital 3,000,000 Prepaid expenses 200,000 Share premium 500,000 Land held for resale 2,000,000 Retained earnings 1,600,000 Checks amounting to P600,000 were written to vendors and recorded on December 31, 2021 resulting in cash overdraft of P200,000. The checks were mailed on January 15, 2022. Land held for resale was sold for cash on January 31, 2022

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students