Question 31

2 pts

FDN Company shows the following balances on December 31, 2021:

Accounts receivable P250,000

Question 32

2 pts

On January 1, 2021, FDN Company has a cash balance of P43,600. The following financial information are taken from its books on December 31, 2021, end of the accounting period:

Cash received from customers	P 139,000
Cash received from sale of equipment	14,600
Purchase of equipment for cash	13,000
Additional cash investment of owner	20,000
Cash paid for bank loan	9,000
Cash received for sale of long-term investments	10,000
Payment for operating expenses	85,500
Note issued for acquisition of company vehicle	7,500

How much was the net cash flow provided by (used in) investing activities? Enter as a negative amount if its used in investing activities.

Accumulated depreciation P400,000

Allowance for uncollectible accounts P76,000

Cash P200,000

Property, plant and equipment P700,000

Supplies P30,000

How much is the Current Assets in the Statement of Financial Position as of December 31, 2021?

34

FDN Company reported Accounts Receivable of P10,000,000 on December 31, 2021. Allowance for Doubtful Accounts was P1,000,000 on January 1, 2021. The following information is provided pertaining to the companys aging analysis.

Time outstanding Accounts receivable Percent uncollectible

Under 90 days P7,200,000 4%

91 180 days 1,800,000 10%

181 360 days 1,000,000 30%

How much should be reported as Allowance for Doubtful Accounts as of December 31, 2021?

Question 35

2 pts

FDN Company earns revenue from rendering advertising services to various clients. FDN Company received P87,000 for advertising services to be provided to clients and this was credited to a liability account. At year end, 20% of advertising services has been provided. How much is the advertising revenue for the year ended December 31, 2021?