Question
As of December 31, 2019, the capital of Sweet & Spicy Company are equal to two-thirds of the total assets. The creditor's equity is P1,200,000.
As of December 31, 2019, the capital of Sweet & Spicy Company are equal to two-thirds of the total assets. The creditor's equity is P1,200,000. In 2020, total assets decreased by P400,000 while total capital decreased to P2,000,000.
1. As of December 31, 2019, total capital amounted to?
2. As of December 31, 2020, total creditor's equity amounted to?
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Financial Accounting Theory And Analysis Text And Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
9th Edition
9780470128817
