PROBLEM SOLVING 1 Instruction: Show your solution in every problem that needs computation Number 1.No Ka Pee Co. 2.La Tani Service Direct Direct Income 55,000 Labor Materials. 2,500 1,000 Ungan 89,700 5,200 20,450 Co. 3.Keye Tod Ay 148,300 2,420 32,200 Co. 2. All of the Company are ended on December 31. 3. Follow the example format below. Salaries Expenses 16,000 Service income Direct Labor Direct Materials Direct Cost of Service Salaries Expenses Utilities Rent 12,360 Supplies Total Expenses Net income or Net loss 24,000 Utilities Rent P55,000 (2,500) (15,000) 2,000 5,000 No Ka Pee Co. Income Statement For the Year Ended December 31 (16,000) (2,000) (5,000) (4,000) 4,580 6,000 Requirements: 1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay Co. 6,820 P55,000 (17,500) Supplies (27,000) P10,500 4,000 5,000 10,000 9,020

PROBLEM SOLVING 1 Instruction: Show your solution in every problem that needs computation Number 1.No Ka Pee Co. 2.La Tani Service Direct Direct Income 55,000 Labor Materials. 2,500 1,000 Ungan 89,700 5,200 20,450 Co. 3.Keye Tod Ay 148,300 2,420 32,200 Co. 2. All of the Company are ended on December 31. 3. Follow the example format below. Salaries Expenses 16,000 Service income Direct Labor Direct Materials Direct Cost of Service Salaries Expenses Utilities Rent 12,360 Supplies Total Expenses Net income or Net loss 24,000 Utilities Rent P55,000 (2,500) (15,000) 2,000 5,000 No Ka Pee Co. Income Statement For the Year Ended December 31 (16,000) (2,000) (5,000) (4,000) 4,580 6,000 Requirements: 1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay Co. 6,820 P55,000 (17,500) Supplies (27,000) P10,500 4,000 5,000 10,000 9,020

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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