Reference no: EM132680948
Problem 1: Under the double entry system, what is the value of X if assets, current liabilities, noncurrent liabilities and capita are X, P40,000, P60,000, and P350,000, respectively?
a. P250,000
b. P350,000
c. P370,000
d. P450,000
Problem 2: Which of the following combinations of trial balance totals suggest the presence of either a transposition error or a number slide (transplacement)?
a. P65,470 debit and P68,170 credit
b. P33,220 debit and P35,420 credit
c. P25,670 debit and P26,670 credit
d. P14,517 debit and P15,477 credit
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