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Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information.

Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2. Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information. а. Cash on hand ? b. Savings Account in Metrobank = 200,000 and in BPI 345,654 c. Money market accounts = 125,000 d. Accounts Receivables from Maria = 34,890; Juana = 12,900 and Jose = 6500 e. Automobiles at current market value = 2,345,000 f. House and lot at current market value = 12,450,900 g. Personal properties = 3,568,788 h. Furnitures , Fixtures and appliances = 875,600 i. Stock investments = 90,000 j. Bond investments 50,000 k. Credit card loans = 89,700 1. Short term loans with cooperatives = 239,890 m. Unpaid taxes = 75,690 n. Automobile loan = 684,500 o. Housing loan = 2,500,894 p. Both spouses are working with a total annual income of 3,500,433 q. They have received a total of 400,000 from their relatives abroad as gifts in cash. r. They received dividends of 12,450 from the cooperative for the year. s. They received 23,693 from the sale of old appliances t. 8% of their income goes straight to their savings. This amount is not yet included in the earlier savings balance stated in this problem u. They deposit 50,000 each to their retirement fund v. They pay 20,000 a month to their car dealer for the car that they recently bought w. They pay 25,000 to their housing loan on a monthly basis x. They also pay 4500 to the cooperative to cover their loan on a monthly basis. y. Approximately, their household expense per month is 30,000 z. They pay an annual tuition for their 2 kids at 40,000 each aa.Other annual expenses which amounts to 467,800 bb. This year they went on a vacation and spent 67,250 cc. Credit card payment amounts to 2,890 per month
Transcribed Image Text:2. Prepare for the financial statements of spouses Maria and Juan Dela Lata given the following information. а. Cash on hand ? b. Savings Account in Metrobank = 200,000 and in BPI 345,654 c. Money market accounts = 125,000 d. Accounts Receivables from Maria = 34,890; Juana = 12,900 and Jose = 6500 e. Automobiles at current market value = 2,345,000 f. House and lot at current market value = 12,450,900 g. Personal properties = 3,568,788 h. Furnitures , Fixtures and appliances = 875,600 i. Stock investments = 90,000 j. Bond investments 50,000 k. Credit card loans = 89,700 1. Short term loans with cooperatives = 239,890 m. Unpaid taxes = 75,690 n. Automobile loan = 684,500 o. Housing loan = 2,500,894 p. Both spouses are working with a total annual income of 3,500,433 q. They have received a total of 400,000 from their relatives abroad as gifts in cash. r. They received dividends of 12,450 from the cooperative for the year. s. They received 23,693 from the sale of old appliances t. 8% of their income goes straight to their savings. This amount is not yet included in the earlier savings balance stated in this problem u. They deposit 50,000 each to their retirement fund v. They pay 20,000 a month to their car dealer for the car that they recently bought w. They pay 25,000 to their housing loan on a monthly basis x. They also pay 4500 to the cooperative to cover their loan on a monthly basis. y. Approximately, their household expense per month is 30,000 z. They pay an annual tuition for their 2 kids at 40,000 each aa.Other annual expenses which amounts to 467,800 bb. This year they went on a vacation and spent 67,250 cc. Credit card payment amounts to 2,890 per month
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