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The net gain (loss) for the three-month period ending March 31 is * (2 Points) SG Company has been undergoing liquidation since January 01.
The net gain (loss) for the three-month period ending March 31 is * (2 Points) SG Company has been undergoing liquidation since January 01. As of March 31, its condensed statement of realization and liquidation is presented below: ASSETS Assets to be realized Assets acquired Assets realized Assets not realized LIABILITIES 95,000 Liabilities liquidated 35,000 5,000 Liabilities not liquidated 31,850 30,000 42,000 Liabilities to be liquidated 65,000 Liabilities assumed 1,500 REVENUES AND EXPENSES: Sales on Account 5,000 Purchases 1,500 Payment of expenses of trustee 7,500 Sales for Cash 25,000 Interest on Marketable Securities 150 P7,200 (P7,200) P49,500 Omprehensive Approac
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