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The following data were taken from the statement of realization and liquidation of CRASHED CO. Assets to be realized 1,375,000 Assets acquired 750,000 Supplementary credits
The following data were taken from the statement of realization and liquidation of CRASHED CO.
Assets to be realized
1,375,000
Assets acquired
750,000
Supplementary credits
2,800,000
Assets realized
1,200,000
Liabilities to be liquidated
2,250,000
Liabilities assumed
1,625,000
Supplementary charges
3,125,000
Assets not realized
1,375,000
Liabilities liquidated
1,875,000
Liabilities not liquidated
1,700,000
The ending balances of capital stock and retained earnings are P1,500,000 and P238,000, respectively. A net loss of P738,000 was reported for the period.
- What is the net gain/(loss) for the three-month period?
- How much is the ending balance of cash?
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Okay lets solve this stepbystep 1 Net gainloss for the period Given Net loss reported Rs 738000 Stat...
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