PROBLEM 1

1. Excluded
2. Excluded
3. Included
4. Included
5. Excluded

PROBLME 2 P1,253,400

PROBLEM 3

Cost of Goods
Available for sale Inventory Cost Gross profit
a, FIFO periodic P142,800 P56,550 P86,250 P30,750
b. FIFO perpetual 142,800 56,550 86,250 30,750
c. Simple Average 142,800 48,587.50 94,212.50 22,787.50
d. Weighted Average 142,800 48,853 93,147 23,853
e. Moving Average 148,800 54,509 87,491 29,509

PROBLEM 3

Item Cost NRV Market

1 P40.00 P42.00 P40.00
2 29.00 25.00 25.00
3 72.00 88.00 72.00
4 55.00 68.50 55.00
5 25.00 26.00 25.00
6 40.00 37.50 37.50
7 16.00 12.00 12.00
8 35.00 32.00 32.00
9 70.00 80.00 70.00
10 12.00 11.00 11.00
11 6.00 7.00 6.00
12 15.00 12.00 12.00
13 5.00 8.50 5.00
14 40.00 48.00 40.00

PROBLEM 4- P172,300 PROBLEM 7

a. P715,000
PROBLEM 6 – a. P86,000 b. P740,235
b. P62,867 c. P725,010
 PROPERTY, PLANT AND EQUIPMENT

PROBLEM 1 PROBLEM 7
a. P4,905,500 2018 Appraised value – P3,240,000
b. P405,000 2018 Revaluation surplus -P648,000
c. P1,000,000 2020 Appraised value – P1,620,000
d. P1,325,900 2020 Revaluation surplus – P-0-
e. P7,500,000
f. P860,000
g. P880,388
h. Land – P4,848,000
Bldg – P6,060,000
Eqpt – P1,212,000

PROBLEM 2
Land - P3,360,000
Bldg – P2,240,000
Eqpt – P1,400,000

PROBLEM 3 2019 2020 .

COST P2,900,000 P3,521,751
AVE. ACC. EXP. P1,850,000 P3,260,000
CAPITALIZED INTEREST P 320,000 P 81,751

PROBLEM 4 PROBLEM 5 YEAR 1 YEAR 2

1. P1,585,000 1. Straight line P300,000 P300,00
2. P150,750 2. SYD P545,455 P490,910
3.DDB P600,000 P480,000