Filling the blanks or enumeration For presentation purposes in the Statement of Financial Position (SFP), specific asset accounts are grouped (for example: a number of accounts in the Trial Balance my comprise the amounts presented as "Cash and Cash Equivalents" or "Property, plant and Equipment" or PPE). Write 3 specific assets or asset accounts that may comprise the PPE presented in the SFP: any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. These can include the costs of site preparation, initial delivery and handling, installation and assembly, and Write the formula for computing Depreciation Expense per year? If the business has Total Assets of P10,000,000 (ten Million) and Total Liabilities of Write the formula for computing the equity of the owner/s of the business - Write the owner/s equity amount in this case - An impairment loss occurs when the carrying amount of an asset exceeds its recoverable Accounts Receivable - Inventories - Property, Plant and Equipment - Write the effect on the Financial Statements of NOT recognizing an impairments loss on Explain why the Net Income (before Income Tax) in the Statement of Income may not be For Property, Plant and Equipment (PPE), write the rule that defines what costs need to be Accounting 1 & 2 Recap Questions: Write the 3 types of businesses the Accounting for which we have studied: Service Companies Merchandising Companies Manufacturing Companies Write the 8 major steps in the Accounting Processing Cycle that are not given below: Identify and Analyze Transactions or Events to Be Recorded Journalize accounting transactions and other events Post journal entries to the ledger Prepare unadjusted trial balance Journalize and post adjusting entries Prepare the adjusted trial balance Prepare financial statements Prepare the closing entries Prepare post-closing trial balance Journalize and Post Reversing Journal Entries On Basic FS Ratios: Financial Position: Ratio1: Name of the ratio: Formula: Insight that the ratio provides: Ratio 2: Name of the ratio: Formula: Insight that the ratio provides: Income: Ratio 1: Name of the ratio: Formula: Insight that the ratio provides: Ratio 2: Name of the ratio: Formula: Insight that the ratio provides: Filling the blanks or enumeration For presentation purposes in the Statement of Financial Position (SFP), specific asset accounts are grouped (for example: a number of accounts in the Trial Balance my comprise the amounts presented as "Cash and Cash Equivalents" or "Property, plant and Equipment" or PPE). Write 3 specific assets or asset accounts that may comprise the PPE presented in the SFP: any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. These can include the costs of site preparation, initial delivery and handling, installation and assembly, and Write the formula for computing Depreciation Expense per year? If the business has Total Assets of P10,000,000 (ten Million) and Total Liabilities of Write the formula for computing the equity of the owner/s of the business - Write the owner/s equity amount in this case - An impairment loss occurs when the carrying amount of an asset exceeds its recoverable Accounts Receivable - Inventories - Property, Plant and Equipment - Write the effect on the Financial Statements of NOT recognizing an impairments loss on Explain why the Net Income (before Income Tax) in the Statement of Income may not be For Property, Plant and Equipment (PPE), write the rule that defines what costs need to be Accounting 1 & 2 Recap Questions: Write the 3 types of businesses the Accounting for which we have studied: Service Companies Merchandising Companies Manufacturing Companies Write the 8 major steps in the Accounting Processing Cycle that are not given below: Identify and Analyze Transactions or Events to Be Recorded Journalize accounting transactions and other events Post journal entries to the ledger Prepare unadjusted trial balance Journalize and post adjusting entries Prepare the adjusted trial balance Prepare financial statements Prepare the closing entries Prepare post-closing trial balance Journalize and Post Reversing Journal Entries On Basic FS Ratios: Financial Position: Ratio1: Name of the ratio: Formula: Insight that the ratio provides: Ratio 2: Name of the ratio: Formula: Insight that the ratio provides: Income: Ratio 1: Name of the ratio: Formula: Insight that the ratio provides: Ratio 2: Name of the ratio: Formula: Insight that the ratio provides