Based on the information above, give the answer to the following questions by choosing from letters a -e. Write only the letter of your choice. Use lower case. Please follow instruction. The amount of total operating expenses for 2021 is Blank 1 a. P1,310,570 b. P1,332,510 c. P1,338,870 d. P1,383,870 e. answer not given Total current assets at year end is Blank 2 a. P1,726,000 b. P1,044,540 c. P1,276,000 d. P1,122,600 e. answer not given Total Liabilities at year end is Blank 3 a. P253,410 b. P190,190 c. P215,890
Depreciation Methods
The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.
Depreciation Accounting
In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.
Based on the information above, give the answer to the following questions by choosing from letters a -e. Write only the letter of your choice. Use lower case. Please follow instruction.
The amount of total operating expenses for 2021 is Blank 1
a. P1,310,570 b. P1,332,510 c. P1,338,870 d. P1,383,870 e. answer not given
Total current assets at year end is Blank 2
a. P1,726,000 b. P1,044,540 c. P1,276,000 d. P1,122,600 e. answer not given
Total Liabilities at year end is Blank 3
a. P253,410 b. P190,190 c. P215,890 d. P227,710 e. answer not given
Net cost of purchases Blank 4
a. P2,958,000 b. P3,034,000 c. P4,288,000 d. P3,043,000 e. answer not given
Total goods available for sale is Blank 5
a. P3,490,000 b. P4,288,000 c. P2,578,000 d. P3,480,000 e. answer not given
Net book value of the office equipment amounts to Blank 6
a. P444,000 b. P592,000 c. P529,000 d. P87,940 e. answer not given
Total assets at year end is Blank 7
a. P1,884,500 b. P1,485,840 c. P1,488,540 d. P1,636,540 e. answer not given
Net sales amount to Blank 8
- P5,368,000 b. P5,204,000 c. P5,024,000 d. P5,302,000 e. answer not given
Results of operation for the year is Blank 9
a. Net income of P375,130 c. net loss of P375,130 e .answer not given
b. Net income of P357,310 d. net loss of P357,310
Zik, Capital ending balance at year end is Blank 10
a. P484,870 b. P1,217,310 c.P1,235,130 d. P502,690 e. answer not given
Cost of goods sold is Blank 11
a. P3,940,000 b.P3,490,000 c. P4,288,000 d. P4,828,000 e. answer not given
Gross profit margin ratio Blank 12
- 27.23% b. 32.94% c. 33.46% d. 34.82% e. answer not given
Net realizable value of
a. P444,000 b.P592,000 c. P87,940 d. P87,490 e. answer not given
Amount to be reported as Doubtful Accounts Expense is Blank 14
- P78,600 b. P780,600 c. P78,000 d. P78,060
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