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
Related questions
Question
100%
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.
Transcribed Image Text:CTIVITY 5.1
2 et#C5-A1
4
ANDY LIM TRADING
Statement of Financial Position
As of December 31
Assets
2017
2016
Increase (Decrease)
Amount
10
Current Assets
Percent
Cash
84,000
192,000
200,000
530,000
1,006,000
11
158,000 Php
130,000
240,000
500,000
1,028,000
Php
12
Short Term Investment
13
Accounts Receivable, Net
Merchandise Invertory
Total Current Assets
Non-Current Assets
Property, Plant, and Equipment
14
15
Php
Php
16
17
2,340,000
2,350,000
3,356,000
18
Total Assets
Php
3,368,000
Php
19
20
Liabilities & Owner's Equity
530,000
800,000
Curent Liabilties
584,000
840,000
1,424,000
1,932,000
3,356,000
21
22
Non-Current Liabilities
23
Total Liabilities
1,330.000
24
Owner's Equity
Total Liabilities & Owner's Equity
2,038,000
3,368,000
25
Php
Php
26
27
28
29
ANDY LIM TRADING
30
Income Statement
31
As of December 31
32
2017
2016
Increase (Decrease)
Amount
33
34
Percent
4,150.00
2,444.00
1,706.00
1,500.00
Net Sales
Cost of Goods Sold
4,972.00
3,046.00
1,926.00
1,556.00
370
35
Php
Php
36
37
Gross Proft
38
Selling and Admin Expenses
Operatinh Income
Interest Expense
39
206
40
88
92
Income Before Income Taxes (IBIT)
Income Tax Expense
41
282
114
42
94
188
42
72
43
Net Income
Php
Php
44
45
Analysis of Data:
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50
51
52
53
54
55
56
57
59
60
61
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63
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65
66
67
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76
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