PROBLEM SOLVING 1 Instruction: Show your solution in every problem that needs computation Number 1.No Ka Pee Co. 2.La Tani Service Direct Direct Income 55,000 Labor Materials. 2,500 1,000 Ungan 89,700 5,200 20,450 Co. 3.Keye Tod Ay 148,300 2,420 32,200 Co. 2. All of the Company are ended on December 31. 3. Follow the example format below. Salaries Expenses 16,000 Service income Direct Labor Direct Materials Direct Cost of Service Salaries Expenses Utilities Rent 12,360 Supplies Total Expenses Net income or Net loss 24,000 Utilities Rent P55,000 (2,500) (15,000) 2,000 5,000 No Ka Pee Co. Income Statement For the Year Ended December 31 (16,000) (2,000) (5,000) (4,000) 4,580 6,000 Requirements: 1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay Co. 6,820 P55,000 (17,500) Supplies (27,000) P10,500 4,000 5,000 10,000 9,020
PROBLEM SOLVING 1 Instruction: Show your solution in every problem that needs computation Number 1.No Ka Pee Co. 2.La Tani Service Direct Direct Income 55,000 Labor Materials. 2,500 1,000 Ungan 89,700 5,200 20,450 Co. 3.Keye Tod Ay 148,300 2,420 32,200 Co. 2. All of the Company are ended on December 31. 3. Follow the example format below. Salaries Expenses 16,000 Service income Direct Labor Direct Materials Direct Cost of Service Salaries Expenses Utilities Rent 12,360 Supplies Total Expenses Net income or Net loss 24,000 Utilities Rent P55,000 (2,500) (15,000) 2,000 5,000 No Ka Pee Co. Income Statement For the Year Ended December 31 (16,000) (2,000) (5,000) (4,000) 4,580 6,000 Requirements: 1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay Co. 6,820 P55,000 (17,500) Supplies (27,000) P10,500 4,000 5,000 10,000 9,020
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![PROBLEM SOLVING 1
Instruction: Show your solution in every problem that needs computation
Salaries
Expenses
16,000
Number
1.No Ka
Pee Co.
2.La Tan
Ungan
Co.
3.Keye
Tod Ay
Co.
Service Direct Direct
Income
55,000
Labor Materials
2,500 1,000
89,700 5,200 20,450 12,360
148,300 2,420 32,200
2. All of the Company are ended on December 31.
3. Follow the example format below.
24,000
Service income
Direct Labor
Direct Materials
Direct Cost of Service
Salaries Expenses
Utilities
Rent
Supplies
Total Expenses
Net income or Net loss
Utilities Rent
Requirements:
1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay
Co.
P55,000
(2,500)
(15,000)
No Ka Pee Co.
Income Statement
For the Year Ended December 31
(16,000)
(2,000)
(5,000)
(4,000)
2,000 5,000 4,000
4,580 6,000 5,000
6,820
Supplies
P55,000
(17,500)
(27,000)
P10,500
10,000 9,020](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0fb53cc5-63f1-4d6a-892d-7c99b1cdde8d%2F24a91461-cf5b-43bd-bb01-0c04c8fcb88d%2Fra6qhhj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:PROBLEM SOLVING 1
Instruction: Show your solution in every problem that needs computation
Salaries
Expenses
16,000
Number
1.No Ka
Pee Co.
2.La Tan
Ungan
Co.
3.Keye
Tod Ay
Co.
Service Direct Direct
Income
55,000
Labor Materials
2,500 1,000
89,700 5,200 20,450 12,360
148,300 2,420 32,200
2. All of the Company are ended on December 31.
3. Follow the example format below.
24,000
Service income
Direct Labor
Direct Materials
Direct Cost of Service
Salaries Expenses
Utilities
Rent
Supplies
Total Expenses
Net income or Net loss
Utilities Rent
Requirements:
1. Prepare the Income Statement using all the information above for La Tan Ungan Co. and Keye Tod Ay
Co.
P55,000
(2,500)
(15,000)
No Ka Pee Co.
Income Statement
For the Year Ended December 31
(16,000)
(2,000)
(5,000)
(4,000)
2,000 5,000 4,000
4,580 6,000 5,000
6,820
Supplies
P55,000
(17,500)
(27,000)
P10,500
10,000 9,020
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