Bagabag National High School

Bagabag, Nueva Vizcaya

FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND MANAGEMENT 2

2ND SEM- S.Y. 2019- 2020

Name : ______________________________ Score:___________

Year & Section:_______________________________ Date :___________

APPLICATION: Read and analyze each problem carefully then give what is being asked for each item. Show
your solutions on the space provided below each item.
Case I: The following balances were retrieved from the records of Hyacinth’s Laundry Services for the year
ended December 31, 2019:
Hyacinth, Capital, January 1, 2019 P 400,000
Net Income 100,000
Additional Investments 50,000
Hyacinth, Capital, December 31, 2019 490,000

1. How much is Hyacinth’s withdrawal?

2. Prepare a Statement of Changes in Equity for Hyacinth’s Laundry Services for the year ended December 31,
2019.

Case II: Shopper’s Mart & General Merchandise had the following transactions during the year 2019:
Receipts from Customers: P1,500,000
Payments to Suppliers and Employees: P550,000
Purchase of Property and Equipment: P750,000
Long term loan from a bank: P450,000
Additional investment from owner: P150,000
Withdrawals by the owner: P90,000
Cash, January 1, 2019: P235,000

1. How much is the net cash flow generated by/used in operating activities?

2. How much is the net cash flow generated by/used in investing activities?

3. How much is the net cash flow generated by/used in financing activities?

4. Prepare a Cash Flow Statement for the year ended December 31, 2019.
Prepared by: Checked: Verified: Noted:

MARISSA C. ALMUETE JUDITH P. CUTILLON NOEMI L. BULAN ELOISA C. ANG, PhD.

Subject Teacher MT II/Subject Group Head Assistant School Principal II Secondary School Principal IV