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You are given the following selected data after one year of operation of Total Face Shop owned by Dr. Belloyan. a. 1 Quarter of 2019
You are given the following selected data after one year of operation of Total Face Shop owned by Dr. Belloyan. a. 1" Quarter of 2019 Revenue from facial treatment services rendered on account amounted to Php 240,000. b. 1" Quarter of 2019 Revenue from facial treatment services collected in Cash amounted to Php 290,000 c. 2nd Quarter of 2019 Revenue from facial treatment services rendered on account amounted to Php 350,000 d. 2nd Quarter of 2019 Revenue from facial treatment services collected in Cash amounted to Php 375,000 (inclusive of last quarter's accounts that were collected this quarter amounting to Php 190,000). e. 3rd Quarter of 2019 Revenue from facial treatment services rendered on account amounted to Php 475,000. f. 3rd Quarter of 2019 Revenue from facial treatment services collected in Cash amounted to Php 400,000 (inclusive of last quarters' accounts that were collected this quarter amounting to Php 180,000). g. 4h Quarter of 2019 Revenue from facial treatment services rendered on account amounted to Php 625,000. h. 4th Quarter of 2019 Revenue from facial treatment services collected in Cash amounted to P 445,000 (inclusive of last quarters' accounts that were collected this quarter amounting to Php 200,000). i. Dr. Belloyan's initial cash investment amounted to Php 5,000,000. j. Dr. Belloyan's cash withdrawals amounted to Php 240,000 k. Dr. Belloyan's cash disbursement related to Total Face Shop's Equipment and Furniture amounted to Php 3,100,000. 1. Operating Expenses incurred on account amounted to Php 800,000. m. Operating Expenses incurred for cash amounted to Php 225,000. Under Accrual Basis of Accounting: 1. How much is the Total Facial Treatment Fees Earned for the year 2019? 2. How much is the Total Operating Expenses Incurred for the year 2019? 3. How much is the Net Income for the year 2019? 4. How much is the December 31, 2019 Dr. Belloyan's Capital Balance? 5. How much is the December 31, 2019 Dr. Belloyan's Accounts Receivable Balance Under Cash Basis of Accounting: 6. How much is the Total Facial Treatment Fees for the year 2019? 7. How much is the Total Operating Expenses for the year 2019? 8. How much is the Net Income for the year 2019
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