Instructions: Satisfy the different requirements per question. Show complete solution per item. Upload your answers through the upload feature of this activity, you can upload it as a pdf file.

1. EGDL Enterprise was able to sell 150 units of bicycle which was sold at a price of Php45,000 each. 40 units out of the 150 units were sold with a discount of 20% and a total of Php80,000 was considered sales returns for the year. How much is the net sales of the business,
2. JSD Corp at the start of the year has a total of 350 units of inventory costing Php100.00 per unit. During the year the company purchase a total of 10,000 units of inventory amounting to Php110.00 each with a total freight-in costs of Php20,000.00. A discount of Php50,000.00 was availed by the company for purchasing bulk orders and returned a total of Php22,000.00 worth of inventory. End of the year inventory count shows that the business still have a total of 500 units at Php110.00 each. How much is the total COGS of JSD Corp?
3. A company acquired a delivery equipment amounting to Php1,800,000.00. It is estimated that the company can use the said equipment for 10 years and would have a scrap value of Php50,000.00.

• A. How much will be the annual depreciation expense of the said
• asset? B. Prepare a depreciation schedule for the said asset