P-M-I CHART

Instruction: Respond to the scenario below by using the P-M-I Chart. Write your answers on the spaces
provided.

 In the Interesting box, write down some facts about the specific financial statement.

Scenario: Shark Loans received a request for a construction loan from Wendy Services Inc. This
construction loan will be used for the building of their fifth branch in Pasay. The company submitted their
statement of financial position and income statement. Help Shark Loans choose which financial
statement they would use as a basis on whether they will accept or reject Wendy Services Inc.’s request.
Refer to Page 2. Justify your decision.

Response 1: Statement of Financial Position Response 2: Income Statement

Plus Minus Plus Minus

Interesting Interesting

My Decision

07 Activity 1
 WENDY SERVICES INC.
Balance Sheet
December 31
200A 200B
Assets
Cash ₱166,320.00 ₱332,640.00
Accounts Receivable 119,350.00 59,675.00
Office Supplies 5,775.00 5,775.00
Prepaid Insurance 15,400.00 15,400.00
Office Equipment 261,800.00 300,000.00
Accumulated Depreciation 53,900.00 207,900.00 61,500.00 238,500.00
Total Assets ₱514,745.00 ₱651,990.00

Liabilities and Owner's Equity

Accounts Payable ₱53,900.00 ₱107,800.00
Salary Payable 9,240.00 9,240.00
Unearned Revenue 23,100.00 27,800.00
Total Liabilities ₱86,240.00 ₱144,840.00

B. Sia-Ko, Capital 428,505.00 507,150.00

Total Liabilities and Owner's Equity ₱514,745.00 ₱651,990.00

WENDY SERVICES INC

Income Statement
December 31
200A 200B
Revenue:
Service Revenue ₱600,000.00 ₱900,000.00
Expenses:
Equipment rental expense ₱200,000.00 ₱200,000.00
Wages expense ₱90,000.00 ₱90,000.00
Utilities expense ₱60,000.00 ₱60,000.00
Total expenses ₱350,000.00 ₱350,000.00
Net Income ₱250,000.00 ₱550,000.00