Below are the unadjusted Trial Balance as of December 31, 20CY ViTag Consumer Goods for the current year: ViTag Appliance Store Unadjusted Trial Balance As of December 31,20CY (in Philippine Pesos) 2,247,030.00 60,000.00 1,275,000.00 1,650,620.00 12,000.00 6,250.00 1,000,000.00 50,000.00 300,000.00 15,000.00 50,000.00 10,000.00 2,009,930.00 100,000.00 1,500,000.00 755,945.00 Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation - Delivery Equipment Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Notes Payable VITAG, Capital Retained Earnings VITAG, Drawing Sales Sales Returns and Allowances Sales Discounts Sales Salary Expense Cost of Goods Sold Advertsiing Expense Commission Expense Delivery Expense Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Office Supplie Expense Tax Expense Misc. General Expense Interest Expense TOTALS 100,000.00 5,667,320.00 67,500.00 50,650.00 215,675.00 2,546,720.00 33,000.00 75,250.00 112,500.00 12,450.00 125,900.00 110,000.00 12,000.00 16,000.00 10,250.00 6,200.00 13,200.00 10,108,195.00 10,108,195.00 Other Information a. The beginning capital of Vitag Consumer Goods amounted to Php950,000.00 b. Sales for ViTag are all on credit C. Total purchases for the year amounted to Php2,625,250.00 and are on credit. d. During the year the total amount of Purchase returns amounted to Php26,250.00 while purchase discounts amounted to Php 40, e. Post-Closing Trial Balance for December 31,20CX (previous year) is as follows: ViTag Appliance Store Unadjusted Trial Balance As of December 31,20CY (in Philippine Pesos) Dr Cr 29,045.00 60,000.00 500,000.00 1,578,650.00 12,000.00 1,250.00 1,000,000.00 50,000.00 Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation - Delivery Equipment Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Notes Payable MM, Capital Retained Earnings Total Libitility and Equity 300,000.00 15,000.00 50,000.00 10,000.00 1,650,000.00 100,000.00 950,000.00 755,945.00 3,530,945.00 3,530,945.00 Required: a. Adjusting Entries 17 points b. Statement of Comprehensive Income (Function of Expense Method: Distribution, Administration and Interest) 13 points c. Statement of Changes in Equity 20 points d. Statement of Financial Position 20 points e. Statement of Cash Flows (Direct Method) 40 points Below are the unadjusted Trial Balance as of December 31, 20CY ViTag Consumer Goods for the current year: ViTag Appliance Store Unadjusted Trial Balance As of December 31,20CY (in Philippine Pesos) 2,247,030.00 60,000.00 1,275,000.00 1,650,620.00 12,000.00 6,250.00 1,000,000.00 50,000.00 300,000.00 15,000.00 50,000.00 10,000.00 2,009,930.00 100,000.00 1,500,000.00 755,945.00 Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation - Delivery Equipment Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Notes Payable VITAG, Capital Retained Earnings VITAG, Drawing Sales Sales Returns and Allowances Sales Discounts Sales Salary Expense Cost of Goods Sold Advertsiing Expense Commission Expense Delivery Expense Misc. Selling Expense Office Salary Expense Rent Expense Insurance Expense Office Supplie Expense Tax Expense Misc. General Expense Interest Expense TOTALS 100,000.00 5,667,320.00 67,500.00 50,650.00 215,675.00 2,546,720.00 33,000.00 75,250.00 112,500.00 12,450.00 125,900.00 110,000.00 12,000.00 16,000.00 10,250.00 6,200.00 13,200.00 10,108,195.00 10,108,195.00 Other Information a. The beginning capital of Vitag Consumer Goods amounted to Php950,000.00 b. Sales for ViTag are all on credit C. Total purchases for the year amounted to Php2,625,250.00 and are on credit. d. During the year the total amount of Purchase returns amounted to Php26,250.00 while purchase discounts amounted to Php 40, e. Post-Closing Trial Balance for December 31,20CX (previous year) is as follows: ViTag Appliance Store Unadjusted Trial Balance As of December 31,20CY (in Philippine Pesos) Dr Cr 29,045.00 60,000.00 500,000.00 1,578,650.00 12,000.00 1,250.00 1,000,000.00 50,000.00 Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation - Delivery Equipment Store Equipment Accumulated Depreciation - Store Equipment Office Equipment Accumulated Depreciation - Office Equipment Accounts Payable Notes Payable MM, Capital Retained Earnings Total Libitility and Equity 300,000.00 15,000.00 50,000.00 10,000.00 1,650,000.00 100,000.00 950,000.00 755,945.00 3,530,945.00 3,530,945.00 Required: a. Adjusting Entries 17 points b. Statement of Comprehensive Income (Function of Expense Method: Distribution, Administration and Interest) 13 points c. Statement of Changes in Equity 20 points d. Statement of Financial Position 20 points e. Statement of Cash Flows (Direct Method) 40 points