Statement of Realization & Liquidation of Riverdale is presented below: ASSETS: Assets to be realized - 1,375,000 Assets acquired- 250,000 Assets realized - 1,200,000 Assets not realized - 400,000 LIABILITIES: Liabilities liquidated - 1,875,000 Liabilities not liquidated - 1,700,000 Liabilities to be liquidated - 2,250,000 Liabilities assumed 1,625,000 Supplementary charges - 500,000 Supplementary credits - 655,000 1. If cash balance at the end is P1,500,000, how much is the beginning shareholders' equity? A. (230,00) B. (25,000) C. 630,000 D. 200,000

Statement of Realization & Liquidation of Riverdale is presented below: ASSETS: Assets to be realized - 1,375,000 Assets acquired- 250,000 Assets realized - 1,200,000 Assets not realized - 400,000 LIABILITIES: Liabilities liquidated - 1,875,000 Liabilities not liquidated - 1,700,000 Liabilities to be liquidated - 2,250,000 Liabilities assumed 1,625,000 Supplementary charges - 500,000 Supplementary credits - 655,000 1. If cash balance at the end is P1,500,000, how much is the beginning shareholders' equity? A. (230,00) B. (25,000) C. 630,000 D. 200,000

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 73P

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