NOTE: ANSWER DIRECTLY. USE THE BACK PAGE OF THIS TEST PAPER ONLINE STUDENTS. USE COLUMNAR PAPER FOR YOUR ANSWERS. SUBMIT THIS TEST ON OR BEFORE APRIL 8 2022. | | | FOR YOUR ANSWERS. | | | | | l- 111a Accounting Eguation. Answer the illustrative problems below. Show computations of your answers in an accounting format. NO supporting computations, NO points.(5x5=25pts.) 1. It's OK's business residual interest showed a balance of P350000. If it claims an ownership in assets worth P1 ,000.000, how much is the liabilities? 2. W Putt has an owner's equity of P?00.000 and a nancial obligation of P300,000. How much is the rm's total assets? 3. Mrs. W opens a Spa business with a total assets of F500.000. At the end of the year. the owner's equity is 80% of the total assets. How much is the total creditor's claim at the end of the year? 4. Mr. Pop owns a bakeshop in the city. At the end of the month. he generated an income of P55,000. During the month, he borrowed money from the bank in the amount of P25,000 as additional investment. He likewise, withdrawn P20,000 before the end of the month for personal use. How much would be Mr. Pop's Owner's Equity, if his starting capital is P120,000? 5. Mr. Egg/Mum invested P5T5.000 in a Laundry business. After two weeks he borrowed money from a bank in the amount of P125,000 to purchase additional equipment and supplies. During the month, he withdrawn P23,800 for personal use. At the end of the period, the business earned revenue of P135000. He also paid the following expenses; Utilities Expense, P8500; Salaries Expense, P12,500, and Miscellaneous expenses. P3500. How much is the net equity of Mr. yaks/Mum at the end of the period? ll - Determination of Unknown Accounts. Classrjz' and arrange the accounts given below based on the requirements. Show classied presentations and computations. (25 pts.) Given: Lester, Capital P150,000 Petty Cash Fund P3.000 Taxes and 30,000 Uneamed Rent 8.000 Licenses Income Accrued 25,000 Accounts Receivable 4.000 Salaries Cash T5,000 Depreciation 2.500 Expense Accounts 50,000 Supplies Used 8.000 Payable Ofce 35,000 Uneamed 10,000 Equipment Commission Income Supplies 10,000 Utilities Expenses 1.500 Expense Notes Payable 80,000 Miscellaneous 85.000 Income Prepaid Rent 20,000 Accrued Interest 20.000 Income Lester, 5,000 Drawing Required: Based on the given data above, compute for the following: 1. Total Assets . Total Liabilities 2 3. Total Expenses 4. Total Revenues 5 . Total Net Equity -THANK YOU AND GOOD LUCK- D