A. Instructions:Compute and Answer the following questions

1.Ponyo Tutorialhad current assets amounting to Php 100,000. Noncurrent assets for the year totaled Php 76,000. How much is the company's total assets?

2. Whisper of the Heart Company total liabilities amounted Php 10,000. Total equity had an ending balance of Php 20,000. How much is total assets?

3.Totoro Neighborhood Service had the following accounts at year end: Cash-250,000, Accounts Payable-70,000, Prepaid Expense-15,000. Compute for the company's current assets.

4. Arriety's Selling Company 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?

5.Kikis Delivery Service Total Liabilities and Equity amounted to Php 285,000. Total noncurrent assets ended at Php 85,000. Cash totaled Php50,000. Inventory amounted to Php100,000. Assuming the company had no other assets, how much is Accounts Receivable?

6.Spirited Away's 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.

B.Howls moving Castle Merchandising provided the following accounts appearing on its ledger as of December 31, 2019:

Cash in Bank 1,800,000

Account Receivable 2,100,000

Inventories 800,000

Office Supplies 50,000

Note Receivable 1,000,000

Accounts Payable 1,200,000

Long Term Investment 1,500,000

Trading securities 900,000

Property, plant and equipment 5,000,000

Bonds payable 4,000,000

Accrued expenses 350,000

Petty cash fund 30,000

Allowance for doubtful accounts 250,000

Accumulated depreciation 1,500,000

Patent 300,000

Prepaid advertising 70,000

Howls, Capital 7,300,000

Howls, Drawing 850,000

Advances to employees 200,000

Required: Prepare the Statement of Financial Position as of December 2019. One in Report Form and one in an Account Form.

C, IV.Procedures / Instructions:Compute and Answer the following questions:

1.Tanjiro Kamado Company generated revenues amounting to Php 100,000. Expenses for the year totaled Php 76,000. How much is the company's net income for the year?

2. Nezuko Kamado Company salaries to sales agents amounted to Php 10,000. Salaries of accountants amounted to Php 20,000. No other expenses were incurred. How much is the company's general and administrative expense?

3. Zenitsu Agatsuma Company inventory amounted to 250,000. Net purchases amounted to 70,000. Freight In totaled 15,000. Compute for the company's cost of goods available for sale.

4. Inosuke Hashibira Selling Company Sales amounted to Php 500,000. Sales returns and sales discounts amounted to Php 30,000 and Php 10,000 respectively. Purchases of the company totaled Php 100,000 while purchase returns and purchase discounts amounted to Php 20,000 and Php 10,000 respectively. How much is the company's Net Sales? Net Purchases?

5. Hashira Company's Cost of Goods Sold amounted to Php 285,000. Net cost of purchases totaled Php 85,000. Beginning inventory amounted to Php 250,000. Sales amounted to Php 500,000. Compute for the company's Ending Inventory.

6. Gross profit of Butterfly Estate amounted to Php 175,000. Beginning Inventory totaled Php 250,000. Ending Inventory amounted to Php 50,000 while Net Cost of Purchases totaled Php 85,000. Compute for Happy's Net Sales.

In each separate cases, compute the Cost of Sales:

D.

CASE 1:PurchasesP 90,000

Purchases Discounts10,000

Merchandise Inventory, end100,000

Merchandise inventory, beg 60,000

CASE 2: Freight - InP 10,000

Purchases120,000

Purchase Returns & Allowances15,000

Merchandise Inventory, beg.80,000

Merchandise Inventory , end105,000

CASE 3: Purchase DiscountsP 15,000

Purchase Returns & Allowances25,000

Freight - In20,000

Merchandise Inventory, beg.215,000

Merchandise Inventory , end230,000

Instructions:Prepare the required items.

E. single-step Statement of Comprehensive Income using the following:

Revenues - 20,000

Rent expense - 3,000

Salaries expense - 4,000

Utilities expense - 2,000

F. Kimetsu no Yaiba Company provided the following information for the year 2019 as follows.

Sales 10,000,000

Sales returns and allowances 120,000

Sales discounts 80,000

Merchandise inventory, December 31 1,800,000 Merchandise inventory, January 1 2,000,000

Purchases 6,000,000 Freight in 200,000

Purchase returns and allowances 140,000

Purchase discounts 100,000

Office salaries 600,000

Sales salaries 800,000 Office supplies 150,000

Store supplies 100,000

Depreciation - building 500,000

Depreciation - office equipment 200,000

Depreciation - store equipment 300,000

G.

Identify if the account is part of the general and administrative expenses or selling expenses.

a. Salaries of admin personnel______________________

b. Salaries of janitors______________________

c. Salaries of sales agents______________________

d. Utilities of home office______________________

e. REQUIRED: Write the statement of comprehensive income for the year usingthe multi - step approach. Write answer below.Rent of office building______________________

f. Depreciation of office equipment______________________

g. Depreciation of delivery van______________________

h. Advertising______________________

i. Cost of merchandise sold during the year ______________________

H. Instructions:Read, analyze carefully and answer the followingquestions.

a. Toka Yada beginning owner's equity amounted to P 500,000. Net loss for the year totaled P 45,000. No additional investments and withdrawals for the period. Compute for total increase in equity for the year.________________________________________________________________

b. Ending owner's equity of Tadaomi Karasuma amounted to P80,000. Additional investments during the year amounted to P30,000. Withdrawals totaled P50,000. Compute for the company's net income for the year assuming beginning equity is P10,000. ________________________________________________________________

c. Irina Jelavi invested an initial capital amounting P150,000 in order to put up his janitorial services company. During the first year of operations (2016), the company had a loss of P25,000. Because of this, Irina Jelavi invested additional capital amounting to P50,000 in 2017. In the second year (2017), the company had a net income of P100,000 and Irina Jelavi withdrew P20,000 for personal use. Compute for the ending capital balance of Irina Jelavi for the year 2017. ________________________________________________________________

d. Hinata Okano invested P100,000 to start her laundry business. During the first year of operations (2016), the company had a net income of P15,000. Hinata Okano invested additional P100,000 to grow the business. In 2017, the business earned P50,000. As of December 31, 2017, Hinata Okano's capital balance is P200,000. How much is Hinata Okano's withdrawal? ________________________________________________________________

I. The following balances of some accounts are presented by Koro Sensei Trading for the year ended December 31, 2019 prior to the closing income and expenses summary account.

CashP 125,000

Accounts Receivable90,000

Merchandise inventory280,000

Accounts payable80,000

Koro Sensie, Capital680,000

Koro Sensie, Drawing30,000

Additional information is given that during the year Koro Sensie have an additional investment of P250,000 and have a Net income of P128,000.

REQUIRED: Prepare the statement of changes in equity of Koro Sensie Trading.

J.

Camilla Corporation was established in 2017. The corporation issued, 25,000, P8 par value shares of stock at an issue price of P15 per share. On August 24,2018, the corporation issued 5,000 new shares at an issue price of P20 per share.

The corporation reported net income of P105,000 and 89,450 in 2017 and 2018 respectively. Dividends of P 3.00 per share were declared and distributed to shareholders on February 1, 2018.

Prepare the 2018 Statement of Changes in Equity of Camilla Corporation