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HOW MUCH SHOULD KANZ MERCHANDISING REPORT AS SALES REVENUE IN ITS 2019 INCOME STATEMENT?
CASH SALES
COLLECTIONS FROM CUSTOMERS
ACCOUNTS RECEIVABLE JAN. 1, 2019
ACCOUNTS RECEIVABLE DEC. 31, 2019
SALES REVENUE, 2019
ABC. CO
HOW MUCH IS THE TOTAL ASSETS AS OF DECEMBER 31, 2019?
NET INCOME
DISTRIBUTED DIVIDENDS
NET INCOME AFTER DISTRIBUTIONS
NET ASSETS ₱ 1,200,000
LIABILITIES ₱ 1,500,000
TOTAL ASSETS
ABC. CO
HOW MUCH SHOULD BE REPORTED AS NET CASH PROVIDED BY OPERATING ACTIVITIES FOR 2019?
NET INCOME
DEPRECIATION EXPENSE
AMORTIZATION EXPENSE
INCREASE IN ACCOUNTS RECEIVABLE
INCREASE IN INVENTORY
DECREASE IN ACCOUNTS PAYABLE
INCREASE IN SALARIES PAYABLE
INCREASE IN LONG TERM NOTE PAYABLE
NET CASH PROVIDED BY OPERATING ACTIVITIES FOR 2019
DMA CORPORATION
HOW MUCH IS THE NET INCOME OR LOSS IN 2019
SHARE CAPITAL
SHARE PREMIUM
RETAINED EARNINGS
CASH DIVIDEND
TOTAL
SHARE HOLDERS EQUITY
NET INCOME
ABC. CO
SALES
COST OF GOODS SOLD
GROSS PROFIT
OPERATING EXPENSES
INTEREST EXPENSE ₱ 350,000
SELLING EXPENSE ₱ 500,000
ADMINISTRATIVE EXPENSES ₱ 300,000
INCOME TAX EXPENSE ₱ 850,000
BANK SERVICE CHARGE ₱ 150,000
OVER DEPRECIATION DURING 2018 -₱ 75,000
UNRECORDED 2018 INTEREST ON NOTES PAYABLE -₱ 100,000
NET INCOME
OTHER COMPREHENSIVE INCOME
REVALUATION SURPLUS DURING 2019 ₱ 50,000
TRANSLATION GAIN ON FOREIGN CORPORATION ₱ 100,000
LOSS ON SALE OF EQUIPMENT -₱ 100,000
COMPREHENSIVE INCOME
REX COMPANY
A. UNDER ACCRUAL BASIS:
COST OF SALES
INVENTORY, DEC. 31
GOODS AVAILABLE FOR SALE
INVENTORY, JAN. 1
PURCHASES
ACCOUNTS PAYABLE, JAN. 1
ACCOUNTS PAYABLE, DEC. 31
PURCHASES - ACCRUAL
ABC CO.
HOW MUCH SHOULD BE INCLUDED IN THE CURRENT LIABILITY SECTION?
ACCOUNTS PAYABLE
BONDS PAYABLE, DUE 2008
DISCOUNT ON BONDS PAYABLE
STOCK DIVIDENDS
TOTAL CURRENT LIABILITY
CAMILLA COMPANY
CAPITAL, DEC 31
WITHDRAWALS @ CARRYING AMOUNT
TOTAL
CAPITAL, JAN 1 ₱ 1,700,000
ADDITIONAL INVESTMENT ₱ 1,060,000
NET LOSS
ABC CO.
CASH DIVIDENDS DECLARED
CASH DIVIDENDS PAID
PROCEEDS FROM SALE OF TREASURY SALES
NET CASH PROVIDED BY FINANCING ACTIVITIES
19 INCOME STATEMENT?
₱ 1,120,000
₱ 3,861,000
₱ 291,000
-₱ 386,000
₱ 4,886,000
₱ 500,000
₱ 300,000
₱ 200,000
₱ 2,700,000
₱ 2,900,000
₱ 3,000,000
₱ 250,000
₱ 2,300,000
-₱ 500,000
₱ 5,050,000
₱ 6,125,000
₱ 1,075,000
₱ 9,500,000
₱ 6,000,000
₱ 3,500,000
₱ 1,975,000
₱ 1,525,000
₱ 50,000
₱ 1,575,000
₱ 5,300,000
₱ 2,500,000
₱ 7,800,000
₱ 2,100,000
₱ 5,700,000
₱ 1,200,000
-₱ 1,350,000
₱ 5,550,000
₱ 5,300,000
₱ 2,500,000
₱ 7,800,000
₱ 2,100,000
₱ 5,700,000
₱ 1,200,000
-₱ 1,350,000
₱ 5,550,000
LIABILITIES EQUITY
₱ 2,000,000 ₱ 3,000,000
₱ 500,000
₱ 100,000
-₱ 300,000
₱ 2,000,000 ₱ 3,300,000
₱ 3,200,000 ₱ 4,300,000
₱ 1,200,000 ₱ 1,000,000
₱ 1,500,000
₱ 2,500,000
-₱ 300,000
₱ 800,000
₱ 4,500,000
₱ 1,700,000
₱ 100,000
₱ 2,500,000
₱ 2,760,000
-₱ 260,000
₱ 450,000
₱ 380,000
₱ 750,000
₱ 1,580,000