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    Account Title Amount (PHP) Bs/Is

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    Althea Marie Lazo
    The document shows accounting records for various accounts of B Paper Company for the year ended December 31, 2019, including the income statement, statement of owner's equity, balance sheet, and breakdowns of revenues, expenses, assets, liabilities, and equity. It provides the account titles, amounts in Philippine Pesos for each account, and indicates whether the accounts are balance sheet (BS) or income statement (IS) items. The documents present the full financial position and performance of B Paper Company for the fiscal year.

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    Account Title Amount (PHP) Bs/Is

    Uploaded by

    Althea Marie Lazo
    41 views14 pages
    The document shows accounting records for various accounts of B Paper Company for the year ended December 31, 2019, including the income statement, statement of owner's equity, balance sheet, and breakdowns of revenues, expenses, assets, liabilities, and equity. It provides the account titles, amounts in Philippine Pesos for each account, and indicates whether the accounts are balance sheet (BS) or income statement (IS) items. The documents present the full financial position and performance of B Paper Company for the fiscal year.

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    ManAcc Module 2

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    The document shows accounting records for various accounts of B Paper Company for the year ended December 31, 2019, including the income statement, statement of owner's equity, balance sheet, and breakdowns of revenues, expenses, assets, liabilities, and equity. It provides the account titles, amounts in Philippine Pesos for each account, and indicates whether the accounts are balance sheet (BS) or income statement (IS) items. The documents present the full financial position and performance of B Paper Company for the fiscal year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    41 views14 pages

    Account Title Amount (PHP) Bs/Is

    Uploaded by

    Althea Marie Lazo
    The document shows accounting records for various accounts of B Paper Company for the year ended December 31, 2019, including the income statement, statement of owner's equity, balance sheet, and breakdowns of revenues, expenses, assets, liabilities, and equity. It provides the account titles, amounts in Philippine Pesos for each account, and indicates whether the accounts are balance sheet (BS) or income statement (IS) items. The documents present the full financial position and performance of B Paper Company for the fiscal year.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 14

    Account Title Amount (Php) BS/IS

    Accounts Payable 25,200 BS


    Accounts Receivable 30,500 BS
    Accumulated Depreciation (Equipment) 45,000 BS
    Cash 26,000 BS
    COGS 518,000 IS
    Freight-out 6,500 IS
    Equipment 146,000 BS
    Depreciation Expense 11,000 IS
    Insurance Expense 7,000 IS
    Interest Expense 6,400 IS
    Interest Revenue 2,000 IS
    Inventory 32,000 BS
    Notes Payable 37,000 BS
    Owner's Capital 101,700 BS
    Owner's Drawings 10,000 BS
    Prepaid Insurance 3,500 BS
    Property Tax Expense 2,500 IS
    Property Tax Payable 2,500 BS
    Rent Expense 15,000 IS
    Salaries and Wages Expense 96,000 IS
    Sales Revenue 720,000 IS
    Sales Commissions Expense 11,000 IS
    Sales Commisions Payable 4,500 BS
    Sales Returns and Allowances 8,000 IS
    Utilities Expense 8,500 IS
    B Paper Company
    Income Statement
    For the Year Ended December 31, 2019
    Php
    Revenue
    Sales Revenue 720,000
    (Sales Returns and Allowances) -8,000
    Interest Revenue 2,000
    TOTAL 714000

    Operating Expenses
    Cost of Goods Sold 518,000
    Freight-out 6,500
    TOTAL 524500
    GROSS MARGIN 189500

    Selling and Administrative Expenses


    Depreciation Expense 11,000
    Sales Commissions Expense 11,000
    Salaries and wages Expense 96,000
    Utilities Expense 8,500
    Insurance Expense 7,000
    Rent Expense 15,000
    TOTAL 148500
    EARNING BEFORE TAX AND INTEREST 41000

    Tax and Interest Expenses


    Property Tax Expense 2,500
    Interest Expense 6,400
    TOTAL 8900
    NET INCOME 32100
    2019
    B Paper Company
    Statement of Owner's Equity
    For the Year Ended December 31, 20
    Php

    Beginning Owner's Capital - December 01, 2019 101,700


    Add: Net Income 32,100
    Less: Owner's Drawings -10,000
    Ending TOTAL OWNER'S EQUITY BY DECEMBER 31, 2019 123,800
    B Paper Company
    Statement of Owner's Equity
    For the Year Ended December 31, 2019
    Php
    B Paper Company
    Balance Sheet
    For the Year Ended December 31, 2019
    Php
    ASSETS
    Current Assets
    Cash 26,000
    Accounts Receivable 30,500
    Inventory 32,000
    Prepaid insurance 3,500
    TOTAL 92,000

    Non-Current
    (Accumulated Depreciation - Equipment) -45,000
    Equipment 146,000
    TOTAL 101000

    TOTAL ASSETS 193,000

    BALANCE CHECKER 0
    B Paper Company
    Balance Sheet
    For the Year Ended December 31, 2019
    Php
    LIABILITIES
    Current Liabilities
    Accounts Payable 25,200
    Notes Payable 37,000
    Property Tax Payable 2,500
    Sales Commission Payable 4,500
    TOTAL LIABILITY 69,200

    EQUITY
    Owner's Drawing -10,000
    Owner's Capital 101,700
    Retained Earnings 32,100
    TOTAL EQUITY 123800

    TOTAL LIABILITIES + EQUITY 193,000


    2019 (Php) 2018 (Php) Change Increase/Decrease?
    ASSETS
    Cash 15,200 17,700 -2,500 Decrease
    Accounts Receivable 25,200 22,300 2,900 Increase
    Investments 20,000 16,000 4,000 Increase
    Equipment 60,000 70,000 -10,000 Decrease
    Accumulated Depreciation - Equipment -14,000 -10,000 -4,000 Decrease
    TOTAL ASSETS 106,400 116,000 -9,600

    LIABILITIES AND STOCKHOLDER'S EQUITY


    Accounts Payable 14,600 11,100 3,500 Increase
    Bonds Payable 10,000 30,000 -20,000 Decrease
    Common Stock 50,000 45,000 5,000 Increase
    Retained Earnings 31,800 29,900 1,900 Increase
    TOTAL LIABILITIES AND EQUITY 106,400 116,000 -9,600
    Effect on Cash flow statement

    Increase
    Decrease
    Decrease
    Increase
    Increase

    Increase
    Decrease
    Increase
    Increase
    Ramos Corpor
    Cashflow Statement (In
    December 11,
    Php
    Cash Flow from Operating Activities
    Net Income 18,300
    Net Cash Flow from Operating Activities
    Depreciation 5,200
    Loss on Sale of Equipment Assets 5,500
    Increase in Accounts Receivable -2,900
    Increase in Accounts Payable 3,500
    NET CASH FROM OPERATING ACTIVITIES 29,600

    Net Cash Flow from Investing Activities


    Increase in Investments -4,000
    Proceeds from disposal of equipments 3,300
    NET CASH FROM INVESTING ACTIVITIES -700

    Net Cash Flow from Financing Activities


    Decrease in Bonds Payable -20,000
    Increase in Common Stock 5,000
    Payment of Cash Dividends -16,400
    NET CASH FROM FINANCING ACTIVITIES -31,400

    Net Decrease in Cash -2,500


    Cash at January 2019 17,700
    Cash at December 2019 15,200
    Ramos Corporation
    Cashflow Statement (Indirect Method)
    December 11, 2019
    Php

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