ANDY LIM TRADING Statement of Financial Position As of Decenber 31 Assets 2017 2016 Increase (Decrease) Current Assets Amount Percent Cash Php 158,000 Php 84,000 192,000 200,000 530,000 1,006,000 Short Term Investmert 130,000 240,000 500,000 1,028,000 Php Accourts Receivable, Net Merchandse Invertory Total Current Assets Php Non Current Assets Property, Plart, and Equipmert 2,340,000 3,368,000 2,350,000 3,356,000 Total Assets Php Php Liabilities & Owaner'sEquity Curent Liabilties 530,000 584,000 Non-Currert Liabilities 800,000 1,330,000 2,038,000 3,368,000 Php 840,000 1,424,000 1,932,000 3,356,000 Total Liabilities Ower's Equity Total Liabilities & Owner's Equity Php ANDY LIM TRADING Income Statement As of Decenber 31 2017 2016 Increase (Decrease) Amount Percent Net Sales Cost of Goods Sold Gross Proft Php 4,972.00 3,046.00 1,926.00 1,556.00 Php 4,150.00 Seling and Admin Expenses Operatinh Income Interest Expense Income Before Income Taxes (IBIT) Income Tax E xpense 2,444.00 1,706.00 1,500.00 206 92 370 88 282 114 94 42 Na Income Php 188 Php 72
ANDY LIM TRADING Statement of Financial Position As of Decenber 31 Assets 2017 2016 Increase (Decrease) Current Assets Amount Percent Cash Php 158,000 Php 84,000 192,000 200,000 530,000 1,006,000 Short Term Investmert 130,000 240,000 500,000 1,028,000 Php Accourts Receivable, Net Merchandse Invertory Total Current Assets Php Non Current Assets Property, Plart, and Equipmert 2,340,000 3,368,000 2,350,000 3,356,000 Total Assets Php Php Liabilities & Owaner'sEquity Curent Liabilties 530,000 584,000 Non-Currert Liabilities 800,000 1,330,000 2,038,000 3,368,000 Php 840,000 1,424,000 1,932,000 3,356,000 Total Liabilities Ower's Equity Total Liabilities & Owner's Equity Php ANDY LIM TRADING Income Statement As of Decenber 31 2017 2016 Increase (Decrease) Amount Percent Net Sales Cost of Goods Sold Gross Proft Php 4,972.00 3,046.00 1,926.00 1,556.00 Php 4,150.00 Seling and Admin Expenses Operatinh Income Interest Expense Income Before Income Taxes (IBIT) Income Tax E xpense 2,444.00 1,706.00 1,500.00 206 92 370 88 282 114 94 42 Na Income Php 188 Php 72
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Horizontal Analysis
Presented below are the Comprehensive statement of Financial Position and comparative income statement of Andy Lim Trading . Perform a Horizontal analysis showing the increase of decrease for the year 2017 in comparison to the year 2016.
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