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    Financial Position

    Uploaded by

    Katherine Borja
    The document provides the account balances for Jerry Corporation for the years ending 12/31/2X20 and 12/31/2X21. It then requires computing the Statement of Financial Position for both years. The summaries provided show the assets, liabilities, and shareholder's equity sections for the Statement of Financial Position for the years ending 2X20 and 2X21.

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    Download as DOCX, PDF, TXT or read online from Scribd

    Financial Position

    Uploaded by

    Katherine Borja
    612 views2 pages
    The document provides the account balances for Jerry Corporation for the years ending 12/31/2X20 and 12/31/2X21. It then requires computing the Statement of Financial Position for both years. The summaries provided show the assets, liabilities, and shareholder's equity sections for the Statement of Financial Position for the years ending 2X20 and 2X21.

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    The document provides the account balances for Jerry Corporation for the years ending 12/31/2X20 and 12/31/2X21. It then requires computing the Statement of Financial Position for both years. The summaries provided show the assets, liabilities, and shareholder's equity sections for the Statement of Financial Position for the years ending 2X20 and 2X21.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    612 views2 pages

    Financial Position

    Uploaded by

    Katherine Borja
    The document provides the account balances for Jerry Corporation for the years ending 12/31/2X20 and 12/31/2X21. It then requires computing the Statement of Financial Position for both years. The summaries provided show the assets, liabilities, and shareholder's equity sections for the Statement of Financial Position for the years ending 2X20 and 2X21.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    BM2003

    Jerry
    Corporation
    The following are the account balances of Jerry Corporation for 2X20 and 2X21.
    12/31/2X20 12/31/2X21
    Accumulated depreciation P2,019,000 P2,674,000
    Accounts payable 1,809,000 2,060,000
    Accounts receivable 2,487,000 2,688,000
    Cash 1,303,000 1,162,000
    Common stock 4,998,000 4,998,000
    Inventory 5,807,000 6,029,000
    Long-term debt 7,790,000 8,200,000
    Property, plant, and equipment 8,393,000 9,200,000
    Retained earnings 1,374,000 1,147,000
    Requirement: Using the given information, compute for (2 items x 5 points):
    1. Statement of Financial Position for 2X20.

    Jerry Corporation
    Statement of Financial Position
    For the year ending 2X20
    ASSETS
    Current Assets
    Cash P 1,303,000
    Accounts Receivable 2,487,000
    Inventory 5,807,000
    Total Current Assets 9,597,000
    Non-Current Assets
    Property plant and equipment, net 8,393,000
    Less: Accumulated Depreciation 2,019,000
    Total Non-Current Assets 6,374,000
    Total Assets P 15,971,000

    LIABILITIES AND SHAREHOLDER'S EQUITY


    Liabilities
    Accounts Payable 1,809,000
    Long term debt 7,790,000
    Total Liabilities 9,599,000
    Shareholder's Equity
    Common Stock 4,998,000
    Retained Earnings 1,374,000

    Total Shareholder's Equity 6,372,000


    Total Liabilities and Shareholder's Equity P15,971,000
    2. Statement of Financial Position for 2X21.

    Jerry Corporation
    Statement of Financial Position
    For the year ending 2X21
    ASSETS
    Current Assets
    Cash P 1,162,000
    Accounts Receivable 2,688,000
    Inventory 6,029,000
    Total Current Assets 9,879,000
    Non-Current Assets
    Property plant and equipment, net 9,200,000
    Less: Accumulated Depreciation 2,674,000
    Total Non-Current Assets 6,526,000
    Total Assets P 16,405,000

    LIABILITIES AND SHAREHOLDER'S EQUITY


    Liabilities
    Accounts Payable 2,060,000
    Long term debt 8,200,000
    Total Liabilities 10,260,000
    Shareholder's Equity
    Common Stock 4,998,000
    Retained Earnings 1,147,000

    Total Shareholder's Equity 6,145,000


    Total Liabilities and Shareholder's Equity P 16,405,000

    PERFORMANCE INDICATORS POIN


    TS
    Correct accounts and amounts used 3
    Computed final amounts are 2
    correct/balanced
    TOTAL 5

    03 eLMS Activity 2 *Property of


    STI
    Page 1 of 1

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