lll 7:57…6 61%DoneYour activity:Determine whether the business has made profit, loss or at the business is at break-even.1.Sherlock Wills Pumping Services has the following data on December 31, 2018:Shop RevenueOther RevenuePermits and licensesSalaries expensePhp 150,000.00100,000.008,300.0036,000.0013,100.0025,000.00Transportation ExpenseInsurancesUtilities ExpenseYour answer:32,000.00On June 30, 2017 Jan Frans Transit Corporation shows the following account balances:2.Transportation Service RevenueGasoline and OilPhp 55,000,000.0012,000,000.00Repairs and Maintenance ExpensesSalaries and WagesUtilities ExpenseCommissionYour answer:3,200,000.0010,230,000.00960,000.003,580,000.003.The books of Jasper and John Kent (JJK) Security Services showed the followingaccount balances on December 31, 2016:Insurance ExpenseOther IncomePhp 1,200,000.0020,000,000.00980,000.00Pag-Ibig PremiumPhilHealth Premium2,500,000.0092,000,000.00180,000,000.00Salaries ExpenseService Revenue1,280,000.002,150,000.00Transportation ExpenseUtilities ExpenseYour answer:2,600,000.004.On September 30, 2015, JK Dahomera Utility Services decided to wind up their businessoperations because the account balances showed the following:Utility Service RevenueOther RevenueSalaries and WagesInsurance ExpensePermits and LicensUtilities ExpenseMiscellaneous ExpensePhp 120,000.0010,000.0084,000.0025,000.007,500.003,500.005,200.00Employee Benefits (SSS, Philhealth, Pag-lbig)Your answer.25,000.005.The balances of Hubbies' Tailoring Services on December 31, 2015 were as follows:MaterialsMiscellaneous expensesService FeesUtilitiesPhp 15,000.0010,000.0065,000.0015,000.0025,000.00WagesYour answer:= Wrap TextA* A88

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Your activity: Determine whether the business has made profit, loss or at the business is at break- even. 1. Sherlock Wills Pumping Services has the following data on December 31, 2018: Php 150,000.00 Shop Revenue Other Revenue Permits and licenses 100,000.00 Salaries expense Transportation Expense Insurances 8,300.00 36,000.00 13,100.00 25,000.00 32,000.00 Utilities Expense Your answer:

Your activity: Determine whether the business has made profit, loss or at the business is at break- even. 1. Sherlock Wills Pumping Services has the following data on December 31, 2018: Php 150,000.00 Shop Revenue Other Revenue Permits and licenses 100,000.00 Salaries expense Transportation Expense Insurances 8,300.00 36,000.00 13,100.00 25,000.00 32,000.00 Utilities Expense Your answer:

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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