The owner of the business wants to know the operations of the business. You are tasked to compute for the following: 1. Total service income collected in cash 2. Total service income still collectible 3. Total expenses
The owner of the business wants to know the operations of the business. You are tasked to compute for the following: 1. Total service income collected in cash 2. Total service income still collectible 3. Total expenses
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 9SPB: FINANCIAL RATIOS Use the work sheet and financial statements prepared in Problem 15-8B. All sales...
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![Activity 1 - Computing Net Income or Net Loss, Collectibles and Expenses
Directions: Apply the basic equation of income statement written above and answer
the questions bellow.
GIN Janitorial and General Services, Inc. is a company engaged in providing
janitorial services to different business establishments in the city. The following financial
data reveals the income and expenses records during the last quarter of 2018:
Revenue / Service Income:
P 95,000.00
145,000.00
Service rendered - on account (Deluxe Hotel)
Service rendered - Cash (Maxandria Hotel)
Service rendered - on account (Pearlmont Inn)
Service rendered - Cash (Mallberry Suites)
Service rendered - Cash (VIP Hotel)
25,000.00
105,000.00
65,000.00
75,000.00
Service rendered - on account (Dynasty Court Hotel)
Service rendered - on account (Grand City Hotel)
60,000.00
TOTAL
P570,000.00
Salaries and Wages of Employees:
Janitor's Salary- Total
Management Staff Salary - Total
P 95,000.00
45,000.00
General Manager's salary- Total
70,000.00
TOTAL P210,000.00
Operating and Administrative Expenses:
Utilities Expenses
P 15,000.00
Rent Expense
Repairs and Maintenance
15,000.00
7,500.00
4,500.00
Transportation and Communications
P 42,000.00
CO_Q2_Entrepreneurship SHS
Module 10
The owner of the business wants to know the operations of the business. You
are tasked to compute for the following:
1. Total service income collected in cash
2. Total service income still collectible
3. Total expenses
4. Net income of GIN Janitorial and General Services, Inc.
5.
TOTAL
34](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc74333df-5c3c-4f43-bc66-a77ab2e359ff%2F985075fe-b210-4f79-b212-3f0f9ebf2c40%2Fg2wd72s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Activity 1 - Computing Net Income or Net Loss, Collectibles and Expenses
Directions: Apply the basic equation of income statement written above and answer
the questions bellow.
GIN Janitorial and General Services, Inc. is a company engaged in providing
janitorial services to different business establishments in the city. The following financial
data reveals the income and expenses records during the last quarter of 2018:
Revenue / Service Income:
P 95,000.00
145,000.00
Service rendered - on account (Deluxe Hotel)
Service rendered - Cash (Maxandria Hotel)
Service rendered - on account (Pearlmont Inn)
Service rendered - Cash (Mallberry Suites)
Service rendered - Cash (VIP Hotel)
25,000.00
105,000.00
65,000.00
75,000.00
Service rendered - on account (Dynasty Court Hotel)
Service rendered - on account (Grand City Hotel)
60,000.00
TOTAL
P570,000.00
Salaries and Wages of Employees:
Janitor's Salary- Total
Management Staff Salary - Total
P 95,000.00
45,000.00
General Manager's salary- Total
70,000.00
TOTAL P210,000.00
Operating and Administrative Expenses:
Utilities Expenses
P 15,000.00
Rent Expense
Repairs and Maintenance
15,000.00
7,500.00
4,500.00
Transportation and Communications
P 42,000.00
CO_Q2_Entrepreneurship SHS
Module 10
The owner of the business wants to know the operations of the business. You
are tasked to compute for the following:
1. Total service income collected in cash
2. Total service income still collectible
3. Total expenses
4. Net income of GIN Janitorial and General Services, Inc.
5.
TOTAL
34
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