Activity 3: “PROBLEM MO, SOLVE KO”

Directions: Analyze the given situations, solve and give

the appropriate answers.

1. Wash and Wear Laundry has current assets amounting

to Php 300,000. Noncurrent assets for the year totaled
Php 89,000. How much is the laundry’s total assets?

2. Read Me Book Shop has assets of Php 2,000,000.00

and owner’s equity of Php 600,000.00. How much is the
book shop’s total liabilities?

3. No Melt Ice Cream parlor has liabilities of Php

395,000.00 and assets of Php 524,000.00. How much is
the ice cream parlor owner’s equity?

4. Everyday Bake Shop has total liabilities amounting to

Php 35,000. Total equity had an ending balance of Php
42,000. How much is total assets?

5. Choose Me Boutique had the following accounts at

year end: Cash- PhP250,000, Accounts Payable-
PhP70,000, Prepaid Expense-PhP15,000. Compute for
the company’s current assets.

6. A hotel company has owner’s equity of PhP

5,000,000.00 and liabilities of PhP 2,560,000.00. How
much is the company’s total assets?
7. At the beginning of the year, the assets of Dale’s
Services were PhP 560,000.00 and its Owner’s Equity
was PhP 250,000.00. During the year, assets were
increased by PhP 120,000.00 and liabilities increased by
PhP 20,000.00. What was the owner’s equity at the end of
the year?

8. Happy Selling’s Accounts Receivable amounted to Php

500,000. Prepaid Expense and Unearned Income totaled
Php 30,000 and Php 10,000 respectively. Cash balance
amounted to Php 100,000 while Accounts Payable and
Inventory totaled to Php 20,000 and Php 10,000
respectively. How much is the company’s current
assets? Current liabilities?

9. Company’s Total Liabilities and Equity amounted to Php

285,000. Total noncurrent assets ended at Php 85,000.
Cash totaled Php 50,000. Inventory amounted to
Php100,000. Assuming the company had no other assets,
how much is Accounts Receivable?

10. Total assets amounted to Php575,000. Total equity

amounted to Php 250,000. Accounts Payable amounted
to Php 50,000 while Unearned Income totaled Php
85,000. Assuming there are no other current liabilities,
compute for the company’s noncurrent liabilities.