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Find the following and provide the solution. a. Distribution Cost b. General and Administrative Expenses c. Net Income d. Cost of Goods Sold e. Current
Find the following and provide the solution.
a. Distribution Cost
b. General and Administrative Expenses
c. Net Income
d. Cost of Goods Sold
e. Current & Non-Current Asset
f. Current & Non-Current liabilities
Credit P Debit 789,826 151,040 P 25,077 18,000 90,447 25,040 35,870 20,660 1,000,000 2,200,000 1,500,000 750,000 250,000 150,040 200,000 Accounts Cash Accounts Receivable Allowance for Bad Debts Notes Receivable (trade) Inventory Prepaid Supplies Prepaid Rent Prepaid Insurance Land Building Accumulated Depreciation-Building Service Vehicle Accumulated Depreciation Service Vehicle Accounts Payable Notes Payable-short term loan Notes Payable (nontrade)- long term loan (P50,000 due within one year) Interest Payable Salaries Payable Utilities Payable Unearned Income Owner's Capital Income Summary Sales Gains Interest Income Freight-out Sales Commission Advertising Expense Salaries Expense Rent Expense Depreciation Expense Utilities Expense Supplies Expense Insurance Expense Income Tax Expense Miscellaneous Expense Inventory, beg. Purchases Freight-in Purchase Returns Purchase Discounts 1,400,000 55,000 145,007 38,000 45,000 590,000 682,759 1,520,080 152,788 104,007 25,524 13,097 70,254 100,784 90,902 147,556 21,004 10,528 38,282 51,834 9,457 87,500 524,007 36,599 15,524 27,241 Information: a. Ending Inventory is P90,447 b. Three-fourths of the salaries, rent, and depreciation expenses pertain to the non-sales personnel/department. The sales department does not share in the other expensesStep by Step Solution
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