BERNALDEZ,JEFFERSONM.

BSA-1
B

18-
1
Gardeni
aCompanyr
epor
tedt
hef
oll
owi
ngasset
sint
hest
atementoff
inanci
alposi
ti
on:

Cashinbank P2,000,000
Accountsreceivabl
e. 4,000,
000
I
nventory. 1,
500,000
Fi
nancialassetatfai
rvalue. 500,000
Patent
. 1,000,
000
Loanstoempl oyees. 200,000
Advancestosuppl i
ers. 400,000
Prepai
dexpenses. 1
00,000

I
nprepar
ingf
inanci
alstatement
sinahyper
inf
lat
ionar
yeconomy,whatt
otal
amountshoul
d
becl
assi
fi
edasmonet aryasset
s?
A.6,200,
000
B.6,600,000
C.6,700,
000
D.7,700,
000

Answer:A.P6,200,000
Cash. 2,
000,
000
Accountsreceivabl
e.4,000,
000
Loanstoempl oyees. 200,000
Total
Monet aryAssets.P6,
200,
000

18-3
Dahli
aCompanywasf or
medonJanuar
y1,2012.Sel
ect
edbal
ancesf
rom hi
stor
ical
cost
stat
ementoff
inanci
alposi
ti
ononDecember31,
2018were:

Landpur
chasedonJanuary1,2012 P2,400,000
I
nvest
mentonlong-ter
m bondspurchasedonJanuar
y1,
201
5 1,200,000
Long-
ter
m debti
ssuedonJanuary1,2012. 1,600,000

Thegener
alpr
iceindexwas1
20onJanuar
y1,
201
2,1
50onJanuar
y1,
201
5,and300on
December31,
2018.

1
. Whatamountshoul
dber
epor
tedi
nhyper
inf
lat
ionar
yst
atementoff
inanci
alposi
ti
on
f
orl
and?
A.P2,400,000
B.P6,000,000
C.P4,800,000
D.P3,000,000

Ans
wer
:B.P6,
000,
000
 300/
120=2.
5x2,
400,
000=P6,
000,
000

2.Whatamountshoul
dberepor
tedi
nhyper
inf
lat
ionar
yst
atementoff
inanci
alposi
ti
on
f
ori
nvest
mentinbonds
?
A.P3,000,000
B.P2,400,000
C.P1,200,000
D.P1,500,000

Answer
:C.P1
,200,
000

Noneedr
est
atementbecausei
nvest
menti
nbondsi
samonet
aryi
tem.

3.Whatamountshoul
dber
epor
tedi
nhyper
inf
lat
ionar
yst
atementoff
inanci
alposi
ti
on
f
orl
ong-t
erm debt?
A.P4,000,000
B.P3,200,000
C.P2,000,000
D.P1,600,000

Answer
:D.P1
,600,
000

Noneedr
est
atementbecausel
ong-
ter
m debti
samonet
aryi
tem.