Reference no: EM132788515
The pre-closing trial balance of DBM-CAR shows the following balances of accounts:
Subsidy from National Government P520, 000,
Unutilized NCA for the month ending December 31, 2019, amounted to P100,000,
Refund of excess cash advance P5,000.
Salaries and Wages-Regular P150,000,
PERA P50,000 Retirement and Life Insurance Premiums P18,000,
Pag-IBIG Contributions P2,500,
PhilHealth Contributions P4,500,
Travelling expense - local P13,000,
Electricity expense P12,000,
Telephone Expense P10,000,
Rent/Lease Expenses P25,000,
Office supplies expense P20,000,
Depreciation Expense-Machinery and equipment P15,000.
Problem1 : What is the Excess of Income Over Expenses for the year ended December 31, 2019?
|
How much income should lessor recognize in profit
: P1.6 million are payable in advance on 1 January, commencing in 2022. How much income should lessor recognize in profit or loss in year ended 31 December 2016
|
|
How much ompong should receive from the cash distribution
: How much Ompong should receive from the P75,000 cash distribution? Nano and Ompong are partners sharing profits and losses in the ratio of 55%
|
|
Calculate the company current ratio
: Inventory of $3,000, Long-Term Assets of $40,000, Accounts Payable of $5,000 and a Long-Term Bank Loan of $50,000. Calculate the company's current ratio.
|
|
Prepare the necessary journal entries using good form
: Prepare the necessary journal entries using good form. Made adjusting entry for Bad Debt Expense using the percentage of net sales method.
|
|
What is the excess of income over expenses for the year
: What is the Excess of Income Over Expenses for the year ended December 31, 2019? Unutilized NCA for the month ending December 31, 2019, amounted to P100,000
|
|
What is the acquisition cost of the machine
: Use the information below, which relates to the purchase of a machine, to answer the question that follows - What is the acquisition cost of the machine
|
|
Explain outsourcing opportunities in a restaurant
: What are some outsourcing opportunities in a restaurant? What supply chain issues are unique to a firm sourcing from 35 countries?
|
|
How much should retained earnings be retroactively adjusted
: How much should retained earnings be retroactively adjusted at January 1. 2020? Victory Company's statements for 2018 and 2019 included errors
|
|
Discuss the four types of process strategies
: Discuss the four types of process strategies and give an example of each. Also, please share any personal industry experiences (if any) with each process strate
|