PERFORMANCE TASK IN FUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 2 (FABM2)

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PERFORMANCE TASK IN FUNDAMENTALS OF ACCOUNTANCY, BUSINESS, AND MANAGEMENT 2 (FABM2) Submitted by: James Joseph S. Cardenas Grade 12 – St. Uriel Submitted to: Sir Ruben Sosing Leyba

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Account Number 1000 1200 1201 1300 1400 1600 1601 1800 2000 2100 2201 2202 3000 3100 4100 4101 4102 5100 6100 6150 6200 6250 6300 6350 6400 6450 6500 6700

Account Name Cash Accounts Receivable Allowance for Bad Debts Inventory Prepaid Expenses Office Equipment Accumulated Depreciation – Office Equipment Land Accounts Payable Notes Payable Salaries Payable Utilities Payable Dy, Drawings Dy, Capital Sales Sales Returns and Allowances Sales Discount Cost of Sales Salaries Expense Supplies Expense Utilities Expense Travel Expense Rental Expense Fuel Expense Advertising Expense Commissions Expense Depreciation Expense Interest Expense Subtotal

Trial Balance Debit Credit 113,525 8,140 20,050 30,000 45,000 3,000 10,000 200,00 0 72,710 1,320 825 32,450 7,000 7,400 275,710 275,71 0

Adjustments Debit Credit 5,000 750 7,000 -

Adjusted Trial Balance Debit Credit 113,525 8,140 20,050 25,000 45,000 750 3,000 7,000 10,000 200,000

7,000 5,000 750 12,750

1,320 825 32,450 14,000 7,400 5,000 750 283,460

12,750

72,710 283,460

SFP Debit 113,525 8,140 20,050 25,000 45,000 10,000 -

221,715

Net Income Total

FINANCIAL STATEMENTS – ANG TINDAHAN COMPANY This study source was downloaded by 100000859607764 from CourseHero.com on 01-03-2023 14:19:41 GMT -06:00

SCI Credit 750 3,000 7,000 200,00 0

210,75 0 10,965 221,71 5

Debit

Credit

1,320 825 32,450 14,000 7,400 5,000 750 61,745

72,710 72,710

10,965 72.710

Net Sales Gross Profit

70,565 32,450 38,115

Less: Operating Expenses Salaries Expense Utilities Expense Rental Expense Depreciation Expense Total Operating Expenses NET INCOME

14,000 7,400 5,000 750 27,150 10,965

Less: Cost of Sales Ang Tindahan Company Statement of Financial Position As of July 31, 20XX ASSETS Current Asset Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets

113,525 8,140 20,050 25,000 166,715

Office Equipment Accumulated Depreciation – Office Equipment Total Non-current Assets TOTAL ASSETS

45,000 (750) 44,250 210,965

LIABILITIES AND OWNER'S EQUITY LIABILITIES Accounts Payable Salaries Payable Total Liabilities OWNER'S EQUITY TOTAL LIABILITIES AND OWNER'S EQUITY

3,000 7,000 10,000 200,965 210,965

Non-current Asset

Ang Tindahan Company Statement of Changes in Equity For the month-ended July 31, 20XX Dy, Capital, Beginning Balance Add: Additional Contributions 200,000 Net Income 10,965 Less: Dy, Drawings 10,000 Dy, Capital, Ending Balance 200,965

Ang Tindahan Company Statement of Cash Flows For the month-ended July 31, 20XX

Ang Tindahan Company Statement of Comprehensive Income For the month-ended July 31, 20XX Sales 72,710 Less: Sales Returns and Allowances 1,320 Sales Discount 825 This study source was downloaded by 100000859607764 from CourseHero.com on 01-03-2023 14:19:41 GMT -06:00

Operating Activities Cash received from customers Cash paid to suppliers Cash paid to employees Cash paid for utilities Cash paid for rent Net cash used in operating activities Investing Activities

62,425 (49,500) (7,000) (7,400) (30,000) (31,475)

Purchase of office equipment Net cash used in investing activities Financing Activities Owner’s contribution Owner’s withdrawals Net cash flows from financing activities Net change in cash Cash, July 1, 20XX Cash, July 31, 20XX

(45,000) (45,000) 200,000 (10,000) 190,000 113,525 0 113,525

FINANCIAL STATEMENT ANALYSIS Profitability Ratio Ratio Gross Profit Margin Operating Income Margin Net Profit Margin Return on Assets Return on Equity

Formula Gross Profit / Net Sales Operating Income / Net Sales Net Profit / Net Sales Net Income / Average Assets Net Income / Average Equity

Solution 38,115 / 70,565 10,965 / 70,565

Answer 54.01% 15.54%

10,965 / 70,565 10,965 / 210,965

15.54% 5.20%

10,965 / 200,965

5.46%

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