The following information was taken from the records of Bernardo Accounting Services as of September 30, 20: Petty cash funds Cash in bank Professional fees receivable Unused office supplies Prepaid taxes Other prepaid expenses Office equipment Furniture and fixtures Leasehold improvements Accounts payable Loans payable. Accrued office expenses. Accrued rent expense Advances from clients on Taxes payable. Cara Bernardo, Capital Cara Bernardo, Personal Professional fees Miscellaneous income Salaries and wages Taxes Rent expenses Repairs and maintenance Transportation and travel Representation and entertainment Membership dues Utilities Supplies Used Depreciation - Office equipment Depreciation - Furniture and fixtures Amortization - Leasehold improvements Miscellaneous expenses P 10,000.00 65,780.72 22,750.00 12,850.00 2,450.00 900.00 150,000.00 120,800.00 45,000.00 12,500.75 200,000.00 32,652.25 12,000.00 10,000.00 3,685.00 100,000.00 60,000.00 350,000.00 13,392.79 75,000.00 25,000.00 36,000.00 1,250.00 21,860.00 23,452.50 12,000.00 20,750.66 12,635.55 5,200 3,200 3,570 3,781.36 Cara Bernardo made an additional investment of P20,000 on July 25, 2000. Required: Prepare the following financial statements 1. Financial Performance 2. Changes in owner's equity 3. Financial position
The following information was taken from the records of Bernardo Accounting Services as of September 30, 20: Petty cash funds Cash in bank Professional fees receivable Unused office supplies Prepaid taxes Other prepaid expenses Office equipment Furniture and fixtures Leasehold improvements Accounts payable Loans payable. Accrued office expenses. Accrued rent expense Advances from clients on Taxes payable. Cara Bernardo, Capital Cara Bernardo, Personal Professional fees Miscellaneous income Salaries and wages Taxes Rent expenses Repairs and maintenance Transportation and travel Representation and entertainment Membership dues Utilities Supplies Used Depreciation - Office equipment Depreciation - Furniture and fixtures Amortization - Leasehold improvements Miscellaneous expenses P 10,000.00 65,780.72 22,750.00 12,850.00 2,450.00 900.00 150,000.00 120,800.00 45,000.00 12,500.75 200,000.00 32,652.25 12,000.00 10,000.00 3,685.00 100,000.00 60,000.00 350,000.00 13,392.79 75,000.00 25,000.00 36,000.00 1,250.00 21,860.00 23,452.50 12,000.00 20,750.66 12,635.55 5,200 3,200 3,570 3,781.36 Cara Bernardo made an additional investment of P20,000 on July 25, 2000. Required: Prepare the following financial statements 1. Financial Performance 2. Changes in owner's equity 3. Financial position
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information was taken from the records of Bernardo Accounting Services as of September
30, 200%
Petty cash funds
Cash in bank
Professional fees receivable
Unused office supplies
Prepaid taxes
Other prepaid expenses
Office equipment
Furniture and fixtures
Leasehold improvements
Accounts payable
Loans payable.
Accrued office expenses.
Accrued rent expense
Advances from clients on
Taxes payable.
Cara Bernardo, Capital
Cara Bernardo, Personal
Professional fees
Miscellaneous income
Salaries and wages
Taxes
Rent expenses
Repairs and maintenance
Transportation and travel
Representation and entertainment.
Membership dues
Utilities
Supplies Used
P 10,000.00
65,780.72
22,750.00
12,850.00
2,450.00
900.00
150,000.00
120,800.00
45,000.00
12,500.75
200,000.00
32,652.25
12,000.00
10,000.00
3,685.00
100,000.00
60,000.00
350,000.00
13,392.79
75,000.00
25,000.00
36,000.00
1,250.00
21,860.00
23,452.50
12,000.00
20,750.66
12,635.55
Depreciation - Office equipment
Depreciation - Furniture and fixtures
Amortization - Leasehold improvements
Miscellaneous expenses
Cara Bernardo made an additional investment of P20,000 on July 25, 2020.
Required: Prepare the following financial statements
1. Financial Performance
2. Changes in owner's equity
3. Financial position
5,200
3,200
3,570
3,781.36
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