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Jerry Corporation The following are the account balances of Jerry Corporation for 2X20 and 2X21. 12/31/2X20 12/31/2X21 Accumulated depreciation P2,019,000 P2,674,000 Accounts payable 1,809,000 2,060,000

Jerry Corporation

The following are the account balances of Jerry Corporation for 2X20 and 2X21.

12/31/2X20

12/31/2X21

Accumulated depreciation

P2,019,000

P2,674,000

Accounts payable

1,809,000

2,060,000

Accounts receivable

2,487,000

2,688,000

Cash

1,303,000

1,162,000

Common stock

4,998,000

4,998,000

Inventory

5,807,000

6,029,000

Long-term debt

7,790,000

8,200,000

Property, plant, and equipment

8,393,000

9,200,000

Retained earnings

1,374,000

1,147,000

Requirement: Using the given information, compute for :

  1. Statement of Financial Position for 2X20.
  2. Statement of Financial Position for 2X21.

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