The following data were taken from the Statement of Financial Position of Rusi Bernacer Company, a client of Lisa Delmonte & Co. CPAs for its first month of operation 48 1.9 Unknown Accounting Values Liabilities Accounts Payable Notes Payable P 70,000 Assets Cash In Bank Accounts Receivable Prepaid Rental Office Equipment P150,000 90,000 20,000 100,000 Owner's Equity R. Bernacer, Capital 290,000 P360,000 Total Assets P360,000 Consider the following additional transactions: a. 30% were collected from Accounts Receivable b. 40% of Accounts Payable was paid c. additional cash investment of Mr. R. Bernacer, P50,000 d purchase of office supplies for cash, P15,000 e. borrowed money from a bank and issued a note, P50,000 Answer the following questions: 1. How much is cash in bank balance? a. P219,000 b. P234,000 c. P257,000 d. P260,000 2. How much is total assets? a P432,000 b. P458,000 C. P460,000 d. P470,000 3. How much is total liabilities? a. P 42,000 b. P 70,000 c. P 92,000 d. P112,000 4. How much is owner's equity balance? a. P270,000 b. 280,000 c. P290,000 d. P340,000