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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
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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lll 7:57… 6 61% Done 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: Shop Revenue Other Revenue Permits and licenses Salaries expense Php 150,000.00 100,000.00 8,300.00 36,000.00 13,100.00 25,000.00 Transportation Expense Insurances Utilities Expense Your answer: 32,000.00 On June 30, 2017 Jan Frans Transit Corporation shows the following account balances: 2. Transportation Service Revenue Gasoline and Oil Php 55,000,000.00 12,000,000.00 Repairs and Maintenance Expenses Salaries and Wages Utilities Expense Commission Your answer: 3,200,000.00 10,230,000.00 960,000.00 3,580,000.00 3. The books of Jasper and John Kent (JJK) Security Services showed the following account balances on December 31, 2016: Insurance Expense Other Income Php 1,200,000.00 20,000,000.00 980,000.00 Pag-Ibig Premium PhilHealth Premium 2,500,000.00 92,000,000.00 180,000,000.00 Salaries Expense Service Revenue 1,280,000.00 2,150,000.00 Transportation Expense Utilities Expense Your answer: 2,600,000.00 4. On September 30, 2015, JK Dahomera Utility Services decided to wind up their business operations because the account balances showed the following: Utility Service Revenue Other Revenue Salaries and Wages Insurance Expense Permits and Licens Utilities Expense Miscellaneous Expense Php 120,000.00 10,000.00 84,000.00 25,000.00 7,500.00 3,500.00 5,200.00 Employee Benefits (SSS, Philhealth, Pag-lbig) Your answer. 25,000.00 5. The balances of Hubbies' Tailoring Services on December 31, 2015 were as follows: Materials Miscellaneous expenses Service Fees Utilities Php 15,000.00 10,000.00 65,000.00 15,000.00 25,000.00 Wages Your answer: = Wrap Text A* A 88
Transcribed Image Text:lll 7:57… 6 61% Done 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: Shop Revenue Other Revenue Permits and licenses Salaries expense Php 150,000.00 100,000.00 8,300.00 36,000.00 13,100.00 25,000.00 Transportation Expense Insurances Utilities Expense Your answer: 32,000.00 On June 30, 2017 Jan Frans Transit Corporation shows the following account balances: 2. Transportation Service Revenue Gasoline and Oil Php 55,000,000.00 12,000,000.00 Repairs and Maintenance Expenses Salaries and Wages Utilities Expense Commission Your answer: 3,200,000.00 10,230,000.00 960,000.00 3,580,000.00 3. The books of Jasper and John Kent (JJK) Security Services showed the following account balances on December 31, 2016: Insurance Expense Other Income Php 1,200,000.00 20,000,000.00 980,000.00 Pag-Ibig Premium PhilHealth Premium 2,500,000.00 92,000,000.00 180,000,000.00 Salaries Expense Service Revenue 1,280,000.00 2,150,000.00 Transportation Expense Utilities Expense Your answer: 2,600,000.00 4. On September 30, 2015, JK Dahomera Utility Services decided to wind up their business operations because the account balances showed the following: Utility Service Revenue Other Revenue Salaries and Wages Insurance Expense Permits and Licens Utilities Expense Miscellaneous Expense Php 120,000.00 10,000.00 84,000.00 25,000.00 7,500.00 3,500.00 5,200.00 Employee Benefits (SSS, Philhealth, Pag-lbig) Your answer. 25,000.00 5. The balances of Hubbies' Tailoring Services on December 31, 2015 were as follows: Materials Miscellaneous expenses Service Fees Utilities Php 15,000.00 10,000.00 65,000.00 15,000.00 25,000.00 Wages Your answer: = Wrap Text A* A 88
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