Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Looking for answer with solutions for number 6-87. On December 31, 2019, the pre-closing trial balance of Agency GHI shows the following totals: Current Assets

Looking for answer with solutions for number 6-87. On December 31, 2019, the pre-closing trial balance of Agency GHI shows the following totals: Current Assets 500,000 Property, Plant and Equipment 800,000 Current Liabilities 200,000 Subsidy Income from NG 50,000 Expenses 40,000. Required: What is the Accumulated Surplus/ Deficit balance at December 31, 2019? 8. The following data were taken from the Statement of Cash Flows of Department JKL for the year ended December 31, 2019: Excess of income over expenses 500,000 Depreciation-Machinery and equipment 5,000 Increase in accounts payable 30,000, Increase in Due to to BIR 5,000, Increase in Due from NGA 55,000, Increase in Office Supplies inventory 25,000.Required: What is the Net Cash Provided by Operating Activities on December 31, 2019 ?

image text in transcribed
6. Problem 2: The pre-closing trial balance of 5 points DBM-CAR shows the following balances of accounts: Subsidy from National Government P520, 000, Unutilized NCA for the month ending December 31, 2019, amounted to P100,000, Refund of excess cash advance P5,000. Salaries and Wages-Regular P150,000, PERA P50,000 Retirement and Life Insurance Premiums P18,000, Pag-IBIG Contributions P2,500, PhilHealth Contributions P4,500, Travelling expense - local P13,000, Electricity expense P12,000, Telephone Expense P10,000, Rent/Lease Expenses P25,000, Office supplies expense P20,000, Depreciation Expense- Machinery and equipment P15,000. Required: What is the Excess of Income Over Expenses for the year ended December 31, 2019? *

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Financial Accounting

Authors: Fred Phillips, Robert Libby, Patricia A Libby

3rd Edition

0073527106, 9780073527109

More Books

Students also viewed these Accounting questions