Name: JOANA JEAN B.

SUYMAN Score:______
Year/ Strand & Section: 11-ABM STEVE JOBS Date: 4/11/22

FUNDAMENTALS OF ACCOUNTANCY, BUSINESS & MANAGEMENT 2

MID-TERM PERFORMANCE SUMMATIVE TASK

A.

1. There is zero increase in owner’s equity however there is a decreased by

Php50,000.
2.

Ending Owner’s Equity 80,000.00

Withdrawals 60,000.00
Beginning Equity (20,000.00)
Additional Investment (50,000.00)
Net Income 70,000.00
Thus, the company’s income for the year is Php70,000.

3.
Net Income Php55,000
Additional Investment Php30,000
Php85,000

Thus, there is an increase in equity by Php85,000

4.
Juan, Equity, Beginning 50,000.00
Add:
Additional Investment-2019 50,000.00
Net Income-2019 100,000.00 150,000.00
Sub-Total 200,000.00
Less:
Net Loss-2018 (25,000.00)
Withdrawal-2019 (10,000.00) (35,000.00)
Juan, Equity, Ending 165,000.00

Thus, the ending capital of Pedro for the year 2019 is Php165,000.
 5.
JOSE MALABAG’S LAUNDRY SERVICES
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2018

Juan Capital, January 1, 2018 Php300,000.00

Add:
Additional Investment Php50,000.00
Sub-Total Php350,000.00
Less:
Net Loss (Php30,000.00)
Withdrawals (Php50,000.00) (Php80,000.00)
Juan, Capital, December 31, 2018 Php270,000.00

B.
1. Compute for the cash generated/ used in financing activities.
Solutions:
Cash flow from financing activity
Paid loan from the bank Php150,000.00
Net Cash flow from used in financing activity Php150,000.00

Thus, the cash generated/ used in financing activities is Php150,000.

2. Based on the given above, compute for the net change in cash for the year.

Cash flows from Operating Activities

Net income Php200,000.00
Add back:
Depreciation Expense 25,000.00
Less:
Gain on sale of property and equipment (100,000.00)
125,000.00
Decrease in trade and other receivables-net 70,000.00
Net cash flow generated from operation activities 195,000.00
Cash flow from investing activity
Purchase of property and equipment (200,000.00)
Net cash flow generated from investing activity (200,000.00)
Cash flow from financing activity
Paid loan for a bank (150,000.00)
Net cash flow from use in financing activity (150,000.00)
Net change in cash (Php155,000.00)
Thus, the net change in cash for the year is Php155,000.

3. Prepare the CFS for the year

LEARNING IS FUN COMPANY
CASH FLOW STATEMENT
FOR THE YEAR ENDED 2021
Cash flows from Operating Activities
Net income Php200,000.00
Add back:
Depreciation Expense 25,000.00
Less:
Gain on sale of property and equipment (100,000.00)
125,000.00
Decrease in trade and other receivables-net 70,000.00
Net cash flow generated from operation activities 195,000.00
Cash flow from investing activity
Purchase of property and equipment (200,000.00)
Net cash flow generated from investing activity (200,000.00)
Cash flow from financing activity
Paid loan for a bank (150,000.00)
Net cash flow from use in financing activity (150,000.00)
Net change in cash (Php155,000.00)
Cash, Beginning Php855,000.00
Cash, Ending Php700,000.00