GIN Janitorial and General Services, Inc., 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: Service rendered - on account (Deluxe Hotel) P95,000 Service rendered - Cash (Maxandria Hotel) 45,000 Service rendered - on account (Pearimont Inn) 25,000 Service rendered - Cash (Mallberry Suites) 105,000 Service rendered - Cash (VIP Hotel Inn) 65,000 Service rendered - on account (Sogo Hotel) 55,000 Service rendered - on account (Dynasty Court Hotel) 75,000 Service rendered - on account (Grand City Hotel) 60,000 TOTAL P525,000 Salaries and Wages of employees: P 155,000 Janitor's Salary - Total Management staff salary-Total 45,000 General Manager's salary - total 90,000 TOTAL P 290,000 Operating and administrative expenses: Utilities expenses P 15,000 Rent expense 15,000 Repairs and Maintenance 7,500 Transportation and communications 4,500 Depreciation expense 10,000 TOTAL P 52,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. How much is the total service income collected in cash
2. How much is the total service income still collectible
3. How much is the total expenses
4. How much is the net income? 

GIN Janitorial and General Services, Inc., 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:
Service rendered - on account (Deluxe Hotel)
P95,000
Service rendered - Cash (Maxandria Hotel)
45,000
Service rendered - on account (Pearlmont Inn)
25,000
Service rendered - Cash (Mallberry Suites)
105,000
Service rendered - Cash (VIP Hotel Inn)
65,000
Service rendered - on account (Sogo Hotel)
55,000
Service rendered - on account (Dynasty Court Hotel)
75,000
Service rendered - on account (Grand City Hotel)
60,000
TOTAL
P525,000
Salaries and Wages of employees:
Janitor's Salary - Total
P 155,000
Management staff salary-Total
45,000
General Manager's salary - total
90,000
P 290,000
TOTAL
Operating and administrative expenses:
Utilities expenses
P 15,000
Rent expense
15,000
Repairs and Maintenance
Transportation and communications
7,500
4,500
Depreciation expense
10,000
ТOTAL
P 52,000
Transcribed Image Text:GIN Janitorial and General Services, Inc., 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: Service rendered - on account (Deluxe Hotel) P95,000 Service rendered - Cash (Maxandria Hotel) 45,000 Service rendered - on account (Pearlmont Inn) 25,000 Service rendered - Cash (Mallberry Suites) 105,000 Service rendered - Cash (VIP Hotel Inn) 65,000 Service rendered - on account (Sogo Hotel) 55,000 Service rendered - on account (Dynasty Court Hotel) 75,000 Service rendered - on account (Grand City Hotel) 60,000 TOTAL P525,000 Salaries and Wages of employees: Janitor's Salary - Total P 155,000 Management staff salary-Total 45,000 General Manager's salary - total 90,000 P 290,000 TOTAL Operating and administrative expenses: Utilities expenses P 15,000 Rent expense 15,000 Repairs and Maintenance Transportation and communications 7,500 4,500 Depreciation expense 10,000 ТOTAL P 52,000
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