Proposed answers PROBLEM 1: Accounting Process Date Jan 1
!
%
)
(
10
15
1
1% 1)
'!
' ')
Accounts & Explanation Cash on Hand Merchandise Inventor Mison, Capital "urchases Input $ax Accounts "aable "urchases Input $ax Accounts "aable *rei+ht In Input $ax Cash on Hand Accounts eceivable -a - ales .utput $ax Accounts "aable "urchase eturn Input $ax Cash on Hand -a -ales .utput $ax -alaries /ithholdin+ $ax Cash on Hand Accounts eceivable -a - ales .utput $ax Accounts "aable Cash on Hand -ales eturns .utput $ax Cash on Hand Cash on Hand -ales Discount .utput $ax Accounts eceivable Cash on Hand Accounts eceivable Cash on Hand -a -ales .utput $ax
Debit 500,000 !0,000
Credit
5!0,000 1!,55# 1,%! 1,'(( ),000 (0 ),(0 500 50 550 %,)!0 %,000 )!0 %)! %00 )! '',!00 '0,000 ',!00 %,000 #50 ,50 ,%'0 ,000 %'0 !,!)0 !,!)0 1,000 1'0 1,1'0 #,'(')0 000 % ' 0 #,#0 %,)!0 %,)!0 '',!00 '0,000 ',!00
Page 1 of 35
Proposed answers #0 #1
Accounts "aable Cash on Hand tilities tilities "aable -alaries /2$ "aable -- "re3iu3 "aable "H "re3iu3 "aable "a+4ibi+ "re3iu3 "aable Ca Cash
a3e6 .cto Date "articulars 9 1210,n2#0 10 10 eturns #0 *ull "a3ent
#,000 #,000 %,000 #50 '10 105 1!0 ,1(5
Debit
Credit 1,00)#0
8alance 1,00)#0 15,!!!00 0
5!#0 15,!!!00
*
Debit
Credit ),)00
8alance ),)00 !,!00
Credit
8alance
%,%00
%,%00 0
!,!00
a3e6 $hat;s Entertain3ent Date "articulars
e 7
'210,n2#0 *ull Collection
Debit %,%00
a3e6 Music & Ma+ic Date "articulars 121 '210,n2#0 '! "artial collection Ac Accounts eceivable 12( %,%00 12'! 1 ,00 #,#00 8alance #,#00 ' %,%00
15,515
e7
a3e6 :illar :illar Date "articulars 12% '210,n2#0 1% "artial pa3ent
12( '
15,515
e7
Debit ,00
Credit #,#00
1210 1% #0
8alance ,00 #,#00
Accounts "aable 5!#0 121! 1,00)#0 !,!00 % ),)0000 15,!!! 8alance !,!00
PROBLEM 2: Completion of the Accounting Process Kenneth Toyln! "#Column $or%sheet &or the yer en!e! 'une ()* 2))+ Account $itle Cash In Hand
$rial 8alance Debit %5'00
Credit
Ad
8alance -heet Debit %5'00
Credit
Page 2 of 35
Proposed answers #0 #1
Accounts "aable Cash on Hand tilities tilities "aable -alaries /2$ "aable -- "re3iu3 "aable "H "re3iu3 "aable "a+4ibi+ "re3iu3 "aable Ca Cash
a3e6 .cto Date "articulars 9 1210,n2#0 10 10 eturns #0 *ull "a3ent
#,000 #,000 %,000 #50 '10 105 1!0 ,1(5
Debit
Credit 1,00)#0
8alance 1,00)#0 15,!!!00 0
5!#0 15,!!!00
*
Debit
Credit ),)00
8alance ),)00 !,!00
Credit
8alance
%,%00
%,%00 0
!,!00
a3e6 $hat;s Entertain3ent Date "articulars
e 7
'210,n2#0 *ull Collection
Debit %,%00
a3e6 Music & Ma+ic Date "articulars 121 '210,n2#0 '! "artial collection Ac Accounts eceivable 12( %,%00 12'! 1 ,00 #,#00 8alance #,#00 ' %,%00
15,515
e7
a3e6 :illar :illar Date "articulars 12% '210,n2#0 1% "artial pa3ent
12( '
15,515
e7
Debit ,00
Credit #,#00
1210 1% #0
8alance ,00 #,#00
Accounts "aable 5!#0 121! 1,00)#0 !,!00 % ),)0000 15,!!! 8alance !,!00
PROBLEM 2: Completion of the Accounting Process Kenneth Toyln! "#Column $or%sheet &or the yer en!e! 'une ()* 2))+ Account $itle Cash In Hand
$rial 8alance Debit %5'00
Credit
Ad
8alance -heet Debit %5'00
Credit
Page 2 of 35
Proposed answers Cash .n 8an= Accounts eceivable Allo>ance 7or DA otes eceivable eceivable Merch Invt, %21 "rep -tore Ins -tore *urn & *ixtures Accu3 Depn .77ice *urn & *ix Accu3 Depn Accounts "aable otes "aable "aable nearned Co33ission /ithholdin+ $ax "aable -- & EC "aable "hilhealth "aable "a+4ibi+ "aable Al7onso, Capital Al7onso, "ersonal -ales -ales et & Allo>ances -ales Discount "urchases *rei+ht In "urch et & Allo> "urchase Discount Advertisin+ Expense -alar Expense -ales -alar Expense .77ice ent Expense tilities Expense $axes Expense Interest Expense -- & EC Expense "hilhealth Expense "a+4ibi+ Expense Interest Inco3e $otals Ad
!)%')) 11'000
!)%')) 11'000 !000
a?
!)00 )(500 #00 1000
100
500 !)00 )(500
c?
#150
500
d?
'100
(00 5!000 1)0000 '!00 !(0 5'' 100 '00 5'1(00
e?
#,000
#150 1000 '00
15000
15000
h? h?
#(00 5!000 1)0000 100 !(0 5'' 100 '00 5'1(00
)00
#0000
#0000 5)#'00
5)#'00
50'0 '))0 '!'000 000
50'0 '))0 '!'000 000 #000 '000
(000 0000
#000 '000 7? e?
#0 #00
550
)%00 0550
##!00
##!00
()00 !'!00 1'000 00 !'! 1'00 '!00
()00 !'!00 1#!#% '!00 !'! 1'00 '!00
1#5!(00
+?
1!#% 1)00
#000 1#5!(00
b?
a? b? c? d? e?
100 '0 #150 '1 '100 #000
7?
#00
'0
#0'0
100 '0 #150 '100 #000 e?
550
550 #00
+? h?
1)00 )00
1)00 )00
i? %1'5 )1))'
%1'5 i? %1'5 1!#% )0!!5
%1'5 ''(1 #1)! 5(1!5
5(1!5
)10))#
5(1!5
)10))#
Kenneth Toyln!
Page 3 of 35
1!#% %%!(( #1)! )10))#
Proposed answers Post Closing Tril Blnce 'une ()* 2)),
Cash .n Hand Cash In 8an= Accounts eceivable Allo>ance 7or 8ad Debts otes eceivable Merchandise Inventor "repaid Insurance -tore *urniture & *ixtures Accu3ulated Depreciation 4 -tore *urniture & *ix .77ice *urniture & *ixtures Accu3ulated Depreciation .77ice *urniture & *ix Interest eceivable "repaid Advertisin+ Accounts "aable otes "aable -alaries "aable Interest "aable nearned Co33ission /2$ax "aable -- & EC "aable "H "aable "a+4ibi+ "aable Al7onso, Capital
Closing Entries: Inco3e & Expense -u33ar "urchases Merchandise Inventor, June 1 ent Expense $axes -alar Expense 4 .77ice -alar Expense 4 -ales Depreciation Expense 4 -tore *urniture & *ixtures Depreciation Expense 4 .77ice *urniture & *ixtures *rei+ht In Advertisin+ Expense -ales eturns & Allo>ances Doubt7ul Accounts Expense -ales Discount Insurance Expense 4 -ales tilities Expense Interest Expense
Debit %5,'00 !)%,')) 11',000
Credit
5,00 !,)00 %,1'5 #,150 1,000 ',00 15,000 #,(00 '0 #00
BBBBBB %)0,))#
5!,000 1)0,000 550 1,)00 1,00 !(0 5'' 100 '00 5'),0)! %)0,))#
'',(1 '!',000 )(,500 (,)00 1#,!#% ##,!00 0,550 #,000 ',100 ,000 ),%00 5,0'0 1,00 ',))0 #,150 !',!00 ',!00 Page 4 of 35
Proposed answers -- & EC "a+4ibi+ "hilHealth -ales Merchandise Inventor, June #0 "urchase eturns & Allo>ances "urchase Discount Interest Inco3e Co33ission Inco3e Inco3e & Expense -u33ar Al7onso, Capital Inco3e & Expense -u33ar Al7onso, Capital Al7onso, "ersonal Re-ersing Entries: Advertisin+ Expense "repaid Advertisin+ Interest "aable Interest Expense Interest Inco3e Interest eceivable $axes "aable $axes Expense
,!'! ',!00 1,'00 5)#,'00 %,1'5 #,000 ',000 #,0'0 )00 5(,1!5 #,1)! #,1)! #0,000 #0,000 #00 #00 1,)00 1,)00 '0 '0 1,!#% 1,!#%
PROBLEM (: &inncil .ttement Anlysis a $otal revenues $otal expenses et Inco3e eturn on .>ner;s Euit6 1,050,000 2 10,500,000 10 50,000 2 5,500,000 11)'
:enture A "',000,000 (50,000 "1,050,000 .peratin+ atio6 1,050,000 2 ',000,000 5',5 50,000 2 1,500,000 !##
b Cash 7ro3 Custo3ers Disburse3ents 7or expenses Cash in7lo>
:enture A "1,%50,000 )00,000 " (50,000
:enture 8 "1,500,000 )50,000 " 50,000
:enture 8 "500,000 '00,000 "#00,000
:enture A is 3ore pro7itable and liuid
PROBLEM /: Accounting Cycle 0me: Auring Col! .tore $er3s6 '210, n2#0 Page 5 of 35
Proposed answers Date Ma '5 June ! ')
Explanation -I -I *ull coll .7 Ma #1 bal
0me: Ben .upermrt $er3s6 '210, n2#0 Date Explanation Apr 1' -I June '1 ote on 7ile
*
Explanation "I "I Do>n pa3ent
0me: 'ohnny3s Piggery $er3s6 '215, n2#0 Date Explanation Ma '5 "I June 1) "I Do>n pa3ent
Debit ',500
Credit ',500
*
Debit #,%50
Credit #,%50
','!0
0me: irgie Met Mrt $er3s6 '210, n2#0 Date Explanation Ma #0 -I June ( "artial collection
0me: 'offre3s &rm $er3s6 '210, n2#0 Date Ma '( June 1
Credit 1,!50
*
0me: Chit rocery $er3s6 '210, n2#0 Date Explanation Ma 5 -I June ) *ull collection '5 -I
0me: Myn3s riety .tore $er3s6 '210, n2#0 Date Explanation June % -I ote on *ile
Debit 1,!50 ,10
*
Debit ',550
Credit 1,500
*
Debit 1!,#00
Credit 1!,#00
*
Debit
Debit 1,5!0
8alance ',500 0
8alance #,%50 0 ','!0
8alance ',550 1,050
8alance 1!,#00 0
Credit ',!50 ',!!
8alance ',!50 !,(1! !,!'1'0
Credit ',!00 #,0)0
8alance ',!00 5,!)0 #,(!0
!(')0
*
8alance 1,!50 %,10 ,10
0me: 'osie3s Chic%en Page 6 of 35
Proposed answers $er3s6 '215, n2#0 Date Ma #1 June 15
Explanation "I *ull pa3ent
*
Debit
Credit ',500
',500
8alance ',500 4
'O4R0AL E0TR5E.: 6ATE June 1
#
!
5
%
) ( 10
1' 1!
15 1)
PART5C4LAR.
"urchases Input $ax Cash .n Hand Accounts "aable
"urchases Input $ax Cash .n Hand Advances to E3ploees Cash .n Hand Accounts eceivable -ales .utput $ax as & .il Input tax Cash .n Hand otes eceivable -ales .utput $ax Cash In 8an= Accounts eceivable Cash In 8an= Accounts eceivable Cash In 8an= -ales .utput $ax epairs and Maintenance Cash .n Hand -ales eturns & Allo>ances .utput $ax otes eceivable Accounts "aable Cash .n Hand "urchases Input $ax Accounts "aable Cash .n Hand
&
6EB5T ','00 '!
CRE65T
!(')0 1,(%1'0
',)50 #!' #,1(' 150 150 ,10 5,500 0 #00 # ## 15,)0 1!,000 1,)0 #,%50 #,%50 1,500 1,500 1!,000 1',500 1,500 500 500 #00 # ## ',500 ',500 ',%50 ##0 1,5!0 1,5!0 Page 7 of 35
Proposed answers '0
'1 '#
'5
')
#0
"urchases Input $ax Cash .n Hand otes eceivable Accounts eceivable Cash In 8an= otes eceivable Interest Inco3e Accounts eceivable -ales .utput $ax Cash In 8an= Accounts eceivable otes "aable Interest Expense Cash In 8an= ent Expense tilities Expense Cash .n Hand Cash In 8an= -ales .utput $ax -alaries Expense /ithholdin+ $axes "aable ---& "H6 "re3iu3s "aable "a+4ibi+ "aable Advances to E3ploees Cash on Hand .utput $ax Input $ax :A$ "aable
!,000 !)0 !,!)0 ',500 ',500 15,!5(0) 15,#!! 1150) ','!0 ',000 '!0 1,!50 1,!50 150,000 #,#%5 15#,#%5 #,000 )50 #,)50 1#,!!0 1',000 1,!!0 5,000 #00 '00 100 150 !,'50 '1,')! %,(5' 1#,##'
TR5AL BALA0CE AB Met Mrt Tril Blnce As of 'une ()* 2))+
Cash .n Hand Cash In 8an= Accounts eceivable otes eceivable Merchandise Inventor "repaid -upplies *urniture & Euip3ent Deliver Jeep
" 5#,%0('0 50,(5)0) (,!5000 ',50000 1%#,)0000 1,50000 1%,5500 '15,'0000 Page 8 of 35
Proposed answers Accounts "aable /ithholdin+ $axes "aable ---, "H "aable HDM* "aable A 8arFa+a, Capital A 8arFa+a, Dra>in+ -ales -ales Discount -ales returns & Allo>ances "urchases *rei+ht In "urchase Discount "urchase eturns & Allo>ances tilit Expense as & .il -alar Expense epairs and Maintenance $axes & @icenses ent Expense Co33ission Expense -- & "H "re3iu3 Expense HDM* "re3iu3 Expense Interest Inco3e Interest Expense :A$ "aable $otals
" ),#1'0 #,'(000 ',(0000 1,'(%00 !%1,1!)00 '0,00000 #0!,5000 #,50000 ',)0000 %,01000 1,10500 1,55000 #,00000 ',000 #0000 !,)5000 !,'5500 #,00000 %),00000 1!,50000 ),51 ',000 1150) #,#%500 BBBBBBBBB ")0(,!#')
1#,''100 ")0(,!#')
50COME .TATEME0T
AB Met Mrt 5ncome .ttement &or si7 months en!e! 'une ()* 2))+
et -ales Gnote 1? Cost o7 -ales Gnote '? ross Inco3e @ess .peratin+ Expenses6 -ellin+ Expenses Gnote #? eneral Expenses Gnote !? .peratin+ @oss Interest Inco3e Interest Expense et @oss
"'(),#5000 1)5,50000 "11',)5000 "1'#,0%'#' 55,00))
G
1150) #,#%500?
1%),0)100 5,'#100 #,'5((' "),!(0('
0OTE. TO T8E &50A0C5AL .TATEME0T.:
Page 9 of 35
Proposed answers ote 16 -ales @ess6 -ales eturns & Allo>ances -ales Discount et -ales
ote '6 Cost o7 oods -old Merchandise Inventor 8e+innin+ Add6 et "urchases "urchases Add *rei+ht In $otals @ess6 "urchase Discount "urch et & Allo> $otal oods Available 7or -ale @ess Merchandise Inventor End ote #6 -ellin+ Expenses6 ent Co33ission Expense -alaries tilities as & .il epairs and Maintenance -- & "H HDM* $otal ote !6 ent ote !6 tilities -alaries $axes & @icenses -- & "H HDM*
#0!,5000 ',)00 #,500
,#0000 '(),#5000
1%#,)00 %,010 1,105 %%,115 1,550 #,000
!,550
%',55 '!,#5 0,)5
"1)5,500
"5',00000 1!,50000 !#,'#### 1,%%### #0000 !,'5500 5,%%## 1,##### "1'#,0%'#' "',00000 ))% '1,1% #,00000 ',)#)% % "55,00))
CAP5TAL .TATEME0T: AB Met Mrt Cpitl .ttement &or si7 months en!e! 'une ()* 2))+
8arFa+a Capital Jan 1 @ess6 Dra>in+s et @oss 8arFa+a Capital June #0
"
!%1 G'0, G),!( " #)',5
BALA0CE .8EET: Page 10 of 35
Proposed answers AB Met Mrt Blnce .heet As of 'une ()* 2))+
Assets Current Assets6 Cash Gnote 1? $rade & .ther eceivables Merchandise Inventor "repaid -upplies *ixed Assets Gnote #? $otal
"10!,%') 11,(5000 0,)500 1,50000
1%),()'') '#',)5500 "!11,)#%')
@iabilities & .>ners Euit @iabilities6 $rade & .ther "aables .>ners Euit $otal
" '(,1)0'0 #)',5%0) "!11,)#%')
0OTE. TO T8E &50A0C5AL .TATEME0T.: ote 16 Cash .n Hand Cash In 8an= Cash ote '6 Accounts eceivable otes eceivable $rade & .ther eceivable
-chedule o7 Accounts eceivable Aurin+ Cold -tore Chit rocer :ir+ie Meat Mart $otal -chedule o7 Accounts "aable Jo77res *ar3 Johnns "i++er $otal
" 5#,%0('0 50,(5)0) "10!,%') " (,!50 ',500 "11,(50
ote #6 *urniture & Euip3ent Deliver Jeep *ixed Assets ote !6 Accounts "aable :A$ "aable /2$ax "aable -- & "H "aable "a+4ibi+ "aable $rade & .ther "aables
" 1%,55 '15,'00 "'#',)55 " ),#1'0 1#,##'00 #,'(000 ',(0000 1,'(%00 "'%,))#'0
",10 ','!0 1,050 "(,!50
"!,!'1'0 #,(!000 "),#1'0
PROBLEM ,: Completing the Accounting Cycle Date Dec #1
Accounts and Explanation
*
Debit
Credit
Closin+ Entries6 -ales -ales eturns
!0#,#'0 !,050 Page 11 of 35
Proposed answers Inco3e & Expense -
#((,'%0
Inco3e & Expense -
#!!,)!0)#
Mdse Invt End
50,!0000
"urch eturns
#,!'000
"urchases
1(0,0000
Deliver Expense
,'5000
ent Expense
%0,0'000
-alaries
#,00000
.77ice Expense
#,'!000
8ad Debts
(%50
Depreciation
',0####
-upplies
1,05000
Interest Expense
10,50000
Mdse Invt 8e+
51,00000
Inco3e and Expense -
5!,!'(1%
Javier, Capital
5!,!'(1%
Javier Capital
1!,!00
Javier Dra>in+s
Account $itles Cash Accts eceivable Allo>ance 7or 8ad Debts Mdse Invt Jan 1 -upplies .77ice *urn & *ix Accu3 Depn Accts "aable @oans "aable Javier Capital Javier Dra>in+ -ales -ales eturns "urchases "urch eturns Deliver Expense ent Expense -alaries .77ice Expense $otals 8ad Debts Depreciation -upplies Expense
1!,!00
$rial 8alance Debit Credit #1#,!(0
Ad
#5,#50
Ad
#
#5,#50 )00
a?
51,000 ',50 #%,000
(%50
c? 1,05000 !,#00
1,%%50 51,000 1,00 #%,000
b? ',0####
51,000
,#####
15,%10 '00,000 1#,500
15,%10 '00,000 1#,500
1!,!00
1!,!00 !0#,#'0
!0#,#'0
!,050 1(0,00
!0#,#'0
!,050 1(0,00 #,!'0
,'50 %0,0'0 #,000 #,'!0 %(1,050
Inco3e -tate3ent Debit Credit
!,050 1(0,00 #,!'0
#,!'0
,'50 %0,0'0 #,000 #,'!0
,'50 %0,0'0 #,000 #,'!0
%(1,050 a? (%50 b? ',0#### c? 1,05000
(%50 ',0### # 1,0500
(%50 ',0### # 1,0500
Page 12 of 35
Proposed answers Interest Expense Interest "aable Merchandise Invt Dec #1
d? 10,50000 1!,550)#
et Inco3e
0 10,50000
d? 10,50000
1!,550)#
0 10,50000 10,50000
)0!,550)#
)0!,550)#
!0',%10)# 5!,!'(1% !5%,1!0
Page 13 of 35
50,!00 !5%,1!0
!
!5%,1!0
!
Proposed answers PROBLEM 9: &inncil .ttement Anlysis
'00% "(,000 !,%002#%,%00 1'!61 #%,0002#%,%00 ()61
/or=in+ Capital Current atio Acid $est atio
'00 "#,#0 #,#002#',%0 11161 '%,)002#',%0 )61
More liuid in '00% $urnover ##5,05'2',')5 1'%!% ti3es 1#,'02500 '%'! ti3es
Cr Card eceivable Accts eceivable Credit card collection is
3ore e77icient
Inventories
$urnover '1,!%'2,00 #'5 ti3es
Collection "eriod ')' das 1#'' das
Holdin+ "eriod 110%% das
Holdin+ period is uite lon+ at 110%% das
PROBLEM 7: Accounting Proce
a) Particulars a)
b)
c)
d)
e)
*)
!)
h)
i)
Land Cash Carmelo, Capital
Debit 300,000 250,000
550,000
Resort Cash
108,000
Cash ort!a!e Pa"able
300,000
Resort #mpro$ements Cash
285,%00
&'uipment Cash (otes Pa"able +urniture +i-tures Cash
108,000
300,000
285,%00 %8,000 12,000 3,000 120,000 120,000
Linen Cash
.,8/%
upplies ccounts Pa"able
%,200
endin! Purchases
Credit
.,8/%
%,200 5%0
Page 14 of 35
Proposed answers )
4)
l)
m)
n)
o)
Cash
5%0
Cash Credit Card Recei$able Room ales Re$enue
8%,303 %,%3. 88,.%0
Cash endin! ales Re$enue
8,800 8,800
a!es 67a- Pa"able Premium Pa"able Pa!ibi! Premium Pa"able P9 Premium Pa"able Cash ccounts Pa"able Cash
31,200 1,50 /3 2% 312 2.,.8 3,200 3,200
#nsurance &-pense Cash
%,200
ort!a!e Pa"able #nterest &-pense Cash
15,000 2,000
%,200
1.,000
b) a) c) ) 4)
Cash b) 108,000 d) 285,%00 e) 12,000 *) 120,000 !) .,8/% i) 5%0 l) 2.,.8 m) 3,200 n) %,200 o) 1.,000
250,000 300,000 8%,303 8,800
! ) i)
Linen Purchases .,8/% endin! Purchases 5%0
Credit Card Recei$ables ) %,%3.
h )
upplies %,200
Land a)
300,000
Land a )
300,0 00 Resort
b )
108,0 00
d )
Resort #mpro$ements 285,% 00
e )
&'uipments %8,00 0
Page 15 of 35
Proposed answers ccounts Pa"able m 3,200 h %,200 ) ) (otes Pa"able e 3,00 ) 0 ort!a!e Pa"able o 15,00 c 300,0 ) 0 ) 00 Carmelo Capital a )
550,0 00
+urniture +i-tures * 120,0 ) 00
n )
Prepaid #nsurance %,200 a!es
l)
31,20 0 Premium Pa"able l) /35
endin! ales Re$enue 4 8,800 ) Room ales Re$enue ) 88,.% 0
67a- Pa"able l) 1,50 Pa!ibi! Premium Pa"able l) 2%
Phil9ealth Premium Pa"able l) #nterest &-pense 2,000
o)
Cash Linen Purchases endin! Purchases Credit Card Recei$able upplies
7rial :alance Debit Credit 5.,10 1 .,8/% 5%0 %,%3.
+urnishin!s
%,200 300,0 00 3/3,% 00 %8,00 0 120,0 00
Prepaid #nsurance
%,200
Land :uildin! &'uipment
(otes Pa"able ort!a!e Pa"able ccounts Pa"able ithholdin! 7a- Pa"able &C Pa"able Philhealth Pa"able Pa!ibi! Pa"able Carmelo, Capital
312
dustments Debit Credit
:alance heet Debit Credit 5.,10 1
.,8/% 5%0 %,%3. 8) 533
3) 350 3,00 0 285,0 00 1,000 1,50 /3 2% 312 550,0
#ncome tatement Debit Credit
3,. 300,0 00 3/3,% 00 %8,00 0 120,0 00 3,850 3,00 0 285,0 00 1,000 1,50 /3 2% 312 550,0
Page 16 of 35
Proposed answers 00 8,800 88,.% 0
endin! ales Room ales 31,20 0
a!es #nterest &-pense
2,000 /.2,/ .2
;;;;;; ; /.2,/ .2
00 8,800 88,.%0 2) %,10 %) 30
35,3 0 2,30
1) .,220
Linen #n$entor"
.,220
2) %,10
a!es Pa"able
%,10
3) 350
#nsurance &-pense
350 %) 30
#nterest Pa"able Depreciation &'uipment ccumulated Depreciation &'uipment Depreciation +urniture ccumulated Depreciation +urniture Depreciation :uildin! ccumulated Depreciation :uildin!
30
5) 3.5
3.5 5) 3.5
3.5
) 1,1..
1,1.. ) 1,1..
1,1..
.) 1,%%
1,%% .) 1,%%
1,%%
8) 533
upplies &-pense 7otals
8,%1/
(et #ncome
8,%1/
533 50,05 3 5%,.0 . 10%,. 0
10%,.0
10%,.0
/3., .5
5%,.0 . /3., .5
Pro!"e# 8: Recor$ing Accounting %ranaction
2 3
%
5
erchandise #n$entor" Cash #n :an4 Cash >n 9and Lope? Capital Deposit *or Rent Cash in :an4
200,000 %00,000 100,000 .00,000 25,000 25,000
Purchases #nput 7a+rei!ht #n ccounts Pa"able
358,%00 %3,2.=80 2,2%0
Purchases #nput 7accounts Pa"able
38,032 %,5%
+rei!ht #n #nput 7aCash >n 9and
%03,/1=80
%2,5/ 1,28 15% 1,%%0
Page 17 of 35
Proposed answers
.
11
1%
15
1
1. 18
1/
20
21
22
23 2%
ccounts Recei$able ales >utput 7a-
8,/0
ccounts Pa"able Purchase Ret= llow= #nput 7a-
1,800
ccounts Pa"able Cash #n :an4 Purchase Discount #nput 7a-
8,000 /0 1,58% 21 %03,/1=80 3/5,888=0 .,18 80
Cash #n :an4 ales >utput 7a-
15,80
alaries ithholdin! 7a- Pa"able Cash >n 9and
1%,000
ccounts Pa"able Purchase Discount #nput 7aCash #n :an4
%0,./
Cash #n :an4 ccounts Recei$able
1%,000 1,80 .00 13,300 3% %% %0,388 8,/0 8,/0
Cash #n :an4 ales >utput 7a-
1,800
ales Ret= llow= >utput 7aCash >n 9and
11,000 1,320
ccounts Recei$able ales Cash >n 9and >utput 7a-
35,05
15,000 1,800
12,320 30,000 1,300 3,.5
Cash #n :an4 ales >utput 7a-
/,520
ales Returns >utput 7accounts Recei$able
%,200 50%
er$ice Char!e Cash #n :an4
1,125
@tilit" &-pense
5,50
8,500 1,020
%,.0% 1,125
Page 18 of 35
Proposed answers Cash >n 9and 25
28 30
16. 1611 161
5,50
alaries ithholdin! 7a- Pa"able Premium Pa"able P9 Premium Pa"able Pa!ibi! Pa"able Cash >n 9and
1%,000
Rent &-pense Cash #n :an4
12,500
.00 8%0 %20 50 11,%80 12,500
erchandise #n$entor" #ncome ummar"
553,000 553,000
ccounts Pa"able 1,800=00 163 %03,/1=80 %03,/1=80 16% %2,5/=00 %0,./=00
16 1620
ccounts Recei$able 8,/0 161. 35,05 1622
8,/0 %,.0%
:alance 30,352 upplierAs ubsidiar" Led!ersB 9on! on! Date Particulars
+ol4s ear Date Particulars
+
Debit %03,/1=8 0
+
Debit
Credit %03,/1=8 0
:alance %03,/1= 80 0
Credit
:alance %2,5/ %0,./
Credit
:alance 8,/0 0
1,800 %0,./
Particulars 2610, n630 *ull collection
+
Particulars 2610, n630 returns
+
Debit 8,/0
8,/0
Debit 35,05
Credit %,.0%
:alance 35,05 30,352
Page 19 of 35
Proposed answers PROBLEM 9: &o#'"etion of t(e Accounting Proce
CredoAs uto uppl" or4sheet +or the "ear ended Dec= 31, 200. ccount 7itle Cash >n 9and Cash #n :an4 ccounts Recei$able upplies erch= #n$t"= Prepaid #nterest tore &'uipment +urniture +i-tures ccounts Pa"able Loans Pa"able Credo, Capital Credo, Personal ales ales Discount Purchases Purchase Discounts alaries @tilities &-pense Rent &-pense
7rial :alance Debit Credit 1%.50 3.52.5 %000 1/00 15300 000 115000 5/000 .500 100000 %%%%.2 5 32500 8/.000 1800 310000 880 /100 8//80 10800 0 1%5010 5
upplies &-pense Dep=&-p=tore &'uip=
dustments Debit
Prepaid Rent
1%00
%)
1000
Debit
#ncome tatement Credit
15300
18/.8
8/.000 1800 310000
880
;;;;;;;
5) 3000
Credit
32500
1800 310000 ) %50 .) 3500
:alance heet Debit 1%.50 3.52.5 %000 500 18/.8 5000 115000 5/000
.5000 100000 %%%.25
8/.000
880
/2050
/2050
/3%80
/3%80
.2000
.2000
1%00
1%00
8250
8250
1%5010 5 1) 1%00 2) 8250 2) 8250 3) 11800
cc=Depn=>ce +urn= #nterest &-pense
1)
dusted 7rial :alance Debit Credit 1%.50 3.51.5 %000 500 15300 5000 115000 5/000 .500 100000 %%%.25 32500
cc=Deptore &'uip= Depn&-p=>ce +urn=
Credit
8250 11800
3) 11800 %) 1000 5) 3000
alaries Pa"able
8250
11800 11800
1000
11800 1000
3000 )
3000 %50
%50
Page 20 of 35
Proposed answers @tilities Pa"able 2%00
%50 .) 3500 2%00
3500 1%.%105
1%.%105
3500 ..2080 31558 108.% 8
108.%8
8/1./3
108.%8
8/1./3
5.225 31558 8/1./3
Proposed answers @tilities Pa"able 2%00
%50 .) 3500 2%00
3500 1%.%105
1%.%105
3500 ..2080 31558 108.% 8
108.%8
8/1./3
108.%8
8/1./3
5.225 31558 8/1./3
Page 21 of 35
Proposed answers CredoAs uto uppl" Post Closin! 7rial :alance Dec= 31, 200. Cash >n 9and Cash #n :an4 ccounts Recei$able upplies #n$entor" erchandise #n$entor" Prepaid #nterest Prepaid Rent tore &'uipment ccumulated Depreciation tore &'uipment +urniture +i-tures ccumulated Depreciation +urniture +i-tures ccounts Pa"able Loans Pa"able alaries Pa"able @tilities Pa"able
Debit 1%,.50 3.5,2.5 %,000 500 18/,.8 5,000 3,000 115,000
Credit
8,250 5/,000 11,800 .,500 100,000 %50 3,500
Proposed answers CredoAs uto uppl" Post Closin! 7rial :alance Dec= 31, 200. Cash >n 9and Cash #n :an4 ccounts Recei$able upplies #n$entor" erchandise #n$entor" Prepaid #nterest Prepaid Rent tore &'uipment ccumulated Depreciation tore &'uipment +urniture +i-tures ccumulated Depreciation +urniture +i-tures ccounts Pa"able Loans Pa"able alaries Pa"able @tilities Pa"able Credo, Capital
Debit 1%,.50 3.5,2.5 %,000 500 18/,.8 5,000 3,000 115,000
Credit
8,250 5/,000 11,800
;;;;;; 85/,2/3
.,500 100,000 %50 3,500 .2.,./3 85/,2/3
CredoAs uto uppl" #ncome tatement +or the "ear ended Dec= 31, 200. (et ales Enote 1) Cost o* sales Enote 2) Fross ProGt ellin! &-penses Feneral &-penses >peratin! #ncome #nterest &-pense
P880,200 28%,52 5/5,5%8 E225,%10) E 53,5.0) 31,58 1,000 31558 8/.,000 1,800 880,200
(ote 1B
Fross ales Less ales Discount (et ales
(ote 2B
erchandise #n$entor" 161 Less (et Cost o* Purchases Purchases 310,000 Less Purchase Discount 880 7otal Foods $ailable *or ale Less erchandise #n$entor", 12631 E%0H-%.%,%20) Cost o* ales Rent &-pense I tore @tilities &-pense I tore ales alaries upplies &-pense I tore Depreciation &-pense tore &'uipment ellin! &-pense Rent &-pense I >ce @tilities I >ce upplies I >ce
(ote 3B
(ote %B
15,300 30/,120 %.%,%20 18/,.8 28%,52 5%,000 .0,110 /2,050 1,000 8,250 225,%10 18,000 23,3.0 %00
Page 22 of 35
Proposed answers Depreciation I >ce
11,800 53,5.0
CredoAs uto uppl" Capital tatement +or the "ear ended Dec= 31, 200. Credo, Capital
P%%%,.25 315,58 E 32,500) .2.,./3
PROBLEM 10: Recor$ing Accounting %ranaction )ate
2
3 % 5 .
8 10 12 13
15
1.
Particu"ar erchandise #n$entor" Cash on 9and Lope?, Capital
*
)e!it 50,000 200,000
250,000
Purchases Cash on 9and ccounts Pa"able
.,500
Purchases ccounts Pa"able
10,000
+rei!ht #n Cash on 9and Cash on 9and ales
2,500 5,000 10,000 .50 .50 15,000 15,000
Cash on 9and ccounts Recei$able ales
%,000 5,000
upplies Cash on 9and
1,500
/,000 1,500
ccounts Pa"able Purchase Returns llow
500
ales Returns llow Cash on 9and
220
500 220
Cash on 9and ales Discount ccounts Recei$able
%,/50 50
>ce alaries ales alaries Cash on 9and
2,500 3,500
Cash on 9and
&re$it
5,000
,000 1%,000 Page 23 of 35
Proposed answers 18
1/
20 25 31
ales
ccounts Pa"able Purchase Discount Cash on 9and ccounts Recei$able Cash on 9and ales ccounts Pa"able Cash on 9and Cash on 9and ccounts Recei$able >ce alaries ales alaries tore Rent tore @tilities Cash on 9and >ce upplies &-pense >ce upplies
1%,000 5,000 150 %,850 5,83=10 500 5,33=10 %,500 %,500 1,1.=22 1,1.=22 2,500 3,500 5,000 3,000 1%,000 500 500
PROBLEM 11: &o#'"etion of t(e Accounting Proce )ate Dec= 31 1)
Particu"ar Pro*essional +ees Re$enue #ncome &-pense ummar"
)e!it 2.,300
#ncome &-pense ummar" alaries upplies @tilities Rent Depreciation #nterest :ad Debts
13,85
112,%35
3)
#ncome &-pense ummar" ar!allo, Capital
%)
ar!allo, Capital ar!allo, Drawin!
2)
Reversing Entries: alaries Pa"able alaries
#nterest Pa"able #nterest &-pense upplies &-pense
&re$it
2.,300 /,100 12,000 3.,800 .,200 .,125 80 3,50 112,%35 1/,000 1/,000 12,000 12,000 80 80 5,000 Page 24 of 35
Proposed answers upplies
Ac ct+ ,o +
Account %it"e
Cash ccounts recei$able Prepaid rent &'uipment
%ria" Ba"ance
upplies @tilities 7otals Rent Depreciation
A$-ut#ent
18 000 .1 200 1/ 200 1.. 500
ccum deprn ccounts pa"able (otes pa"able ar!allo, capital ar!allo, drawin!s Pro*essional *ees alaries
5,000
a) .200
5 500 18 000 12 000 300 000 1/0 00
llow *or bad debts upplies 7otals
Ba"ance /(eet
18 000 .1 200 12 000 1.. 500 12 25 180 00 120 00 300 000
12 25 180 00 120 00 1/ 000
1/ 000 2. 300
8%1 00 1.0 00 3.8 00 11 800
.nco#e /tate#ent
18 000 .1 200 12 000 1.. 500
b) .125
2. 300 C) 1200 0
2.3 00
/ 100
/1 00
12 000 3. 800
120 00 3.8 00
. 200 . 125
.2 00 .1 25
11 800 a) .200 b) .125
alaries pa"able #nterest e-pense #nterst pa"able :ad debts
A$-ute$ %ria" Ba"ance
c) 1200 0 d) 80
12 000 80
12 000 80
80
35 0
3 50
d)80 80 e) 350
35 0 e)35 0
*) 5000 3%/
3%/
3 50 50 00 3%
3%
138
2.3 Page 25 of 35
Proposed answers 5 (et income 7otals
5
55
55
5 112% 35 2.3 00
00
2.3 00
112 %35 %.0 .00
Page 26 of 35
Proposed answers PROBLEM 12: RE&OR)., PO/%., %RA,/A&%.O,/
2 5 .
8 10
12 1% 15 18 20 22
23
28 2/
30
erchandise &'uipment Re"es, Capital ccounts Pa"able Cash #n :an4 Cash >n 9and Re"es, Capital #nput 7aPurchases ccounts Pa"able +rei!ht #n #nput 7aCash >n 9and #nput 7a+urniture +i-tures (otes Pa"able Cash #n :an4 ccounts Pa"able Cash #n :an4 ccounts Recei$able Cash >n 9and ales >utput 7accounts Recei$able ales >utput 7aPurchases #nput 7aCash #n :an4 Cash >n 9and Purchase Returns #nput 7aRe"es, Drawin! Cash >n 9and (otes Recei$able ccounts Recei$able Cash >n 9and ccounts Recei$able ccounts Pa"able Cash #n :an4 Purchases #nput 7a(otes Pa"able Cash >n 9and ccounts Recei$able ccounts Recei$able ales >utput 7aCash >n 9and Cash #n :an4 ales >utput 7aCash >n 9and
80,000 150,000 22%,000 ,000 200,000 50,000 250,000 2,%00 20,000 22,%00 1,250 150 1,%00 1,05 8,800 %,85 5,000 5,000 5,000 /,800 /,800 1.,500 2,100 .,280 ,500 .80 35,000 %,200 3/,200 2,520 2,250 2.0 5,000 5,000 /,800 /,800 2,%2. 2,%2. 1.,%00 1.,%00 13,000 1,50 1%,50 %,853 %,853 %%,800 %0,000 %,800 31,30 2%,%0 50,000 ,000 /,800
Page 27 of 35
Proposed answers
31
(otes Recei$able #nterest #ncome #nput 7a+rei!ht >ut Cash >n 9and alaries 67a- Pa"able Pa"able P9 Pa"able 9D+ Pa"able Cash >n 9and er$ice Char!e Cash #n :an4
(ameB na Fon?alo 7ermsB 2610, n615 Date &-planation
+
/,.83=. 1=33 30 250 280 15,000 .50 %50 225 300 13,2.5 .3/=20 .3/=20
Debit 18,250
Credit /,125 /,125
:alance 18,250 /,125 0
ccounts Pa"able ubsidiar" Led!er (ameB teel Co= 7ermsB Date &-planation
+
Debit
Credit 0,000
:alance 0,000 0
(ameB herwin 7ermsB %,500 down pa"ment, balance 2610, 1615, n630 Date &-planation + Debit Credit :alance
+
Debit 1.,150
Credit
:alance 5,.1=. 11,%33=33
+
Debit 22,000
Credit
1.,150 11,%33=33 0
:alance 22,000
Page 28 of 35
Proposed answers
Page 29 of 35
Proposed answers PROBLEM 13: &OMPLE%.O, O* %E A&&O,%., &&LE a? and b?
Jas3in;s "ar= "lace
Account $itles Cash In 8an= Cash .n Hand Accounts eceivable Allo>ance 7or 8ad Debts "repaid Insurance @easehold I3prove3ents Accu3ulated Depn4 @hI *urniture & *ixtures Accu3 Depn *urn & *ix Accounts "aable otes "aable Advance 7ro3 Client -- & EC "?re3 "a "H "re3 "a HDM* "re3 "a /$ "able Jas3in, Capital Jas3in, "ersonal "ar=in+ *ees Interest Inco3e ent .77ice -upplies Expense -alaries tilities $axes HDM* "hilHealth -- & EC -alaries "aable .77ice -upplies Depn Exp4 @easehold I3 Interest Expense Interest "aable Insurance Expense Depn Exp4*urn & *ix 8ad Debts $axes "a $otal et Inco3e
$rial 8alance '00,000 '#,000 1%,000
Ad
#,000
+? a?
!,)00 50!,000 !',000
5,)00 #,00
d? 50,!00
#0,000 #,000 #5,000 !00,000 15,000 5#! 1% '00 1,51 1!!,500
7?
c?
!,000
%,500 J?1,1500 1%500 '0000
)5,500 )(,15% 1!,000 1)0,000 ),000 1),000 (,000 1),000 ','00 1,(' 1',5%
a?
c?
%,500
b?
1,!00
!,000
i? 5,)1! '0000 1%500 1,1500 a?
!,000
b? 1,!00 d? 50,!00 h? 1!,000 h? e? 7? +? 1,5'),0)#
1,5'),0)#
1!,000
#,00 !,000 5,)00
(%,))!
i?5,)1! (%,))!0
Ad
Inco3e -tate3ent
8alance '00,000 '#,000 1%,000 ),)00 1,'00 50!,000 (',!00 #0,000
%,000 #5,000 !00,000 %,500 1,)! #51 !00 1,51 1!!,500
)5,500 )%,5% 1!,000 1)0,000 ,00 1(0,000 (,000 '#,)1! ',!00 ',101 1#,)0% !,000 1,!00 50,!00 1!,000 1!,000 #,00 !,000 5,)00 5,)1! 5(',5'' '(),1#!! )(0,5%
)(0,5% )(05%
1,0'1,100
'()1#!! 1,0'1,100
Page 30 of 35
Proposed answers c?
A--E$Current Assets Cash on Hand Cash in 8an= Accounts eceivable @ess Allo>ance "repaid Insurance .77ice -upplies $otal "ropert "lant & Euip @easehold I3p @ess Acc Depn *urniture & *ixtures @ess Accu3 Depn $otal $otal Assets
Maria Jas3in, ealtor 8alance -heet Dece3ber #1, '00) @IA8I@I$IE- & ./E- EKI$L '#,000 '00,000
1%,000 ),)00
1%,'00 1,'00 1,!00 #(',)00
50!,000 (',!00 #0,000 %,000
!11,00 '#,000 !#!,00 )'%,!0000
Current @iabilities6 Accounts "aable #5,000 otes "aable !00,000 nearned ent %,500 $axes 5,)1! -alaries "aable !,000 Interest "aable 1!,000 $axes "aable 5,)1! -- and EC 1,)!0 "H #5100 HDM* !00000 /2$ax 1,5100 $otal Jas3in, Capital $otal @iab & .>ners Euit
!%0,'50 #5%,1#!!0 )'%,!0000
Proposed answers c?
A--E$Current Assets Cash on Hand Cash in 8an= Accounts eceivable @ess Allo>ance "repaid Insurance .77ice -upplies $otal "ropert "lant & Euip @easehold I3p @ess Acc Depn *urniture & *ixtures @ess Accu3 Depn $otal
Maria Jas3in, ealtor 8alance -heet Dece3ber #1, '00) @IA8I@I$IE- & ./E- EKI$L '#,000 '00,000
1%,000 ),)00
1%,'00 1,'00 1,!00 #(',)00
50!,000 (',!00 #0,000 %,000
!11,00 '#,000 !#!,00
$otal Assets
)'%,!0000
Current @iabilities6 Accounts "aable #5,000 otes "aable !00,000 nearned ent %,500 $axes 5,)1! -alaries "aable !,000 Interest "aable 1!,000 $axes "aable 5,)1! -- and EC 1,)!0 "H #5100 HDM* !00000 /2$ax 1,5100 $otal Jas3in, Capital $otal @iab & .>ners Euit
!%0,'50 #5%,1#!!0 )'%,!0000
d? Maria Jas3in, ealtor Inco3e -tate3ent *or the ear ended Dec #1, '00) evenue6
Expenses6
ent Inco3e Interest Inco3e $otal $axes -alaries tilities ent Depreciation @easehold I3p Depreciation 4 *urniture Interest Expense .77ice -upplies 8ad Debts Insurance HDM* "H -- and EC
")%,5% 1!,000 ")(0,5% '#,)1! 1(0,000 (,000 1)0,000 50,!00 !,000 1!,000 ,00 5,)00 #,00 ',!00 ',101 1#,)0%0 5(',5''0 " '(),1#!!0
et Inco3e Maria Jas3in, ealtor Capital -tate3ent *or the ear ended Dec #1, '00) Jas3in, Capital Jan 1 et Inco3e Jas3in, "ersonal Jas3in, Capital Dec #1
"1!!,500 '(),1#!!0 G )5,500? "#5%,1#!!0
Page 31 of 35
Proposed answers PROBLEM 14: RE&OR)., PO/%., %RA,/A&%.O,/ -ept 5
)
10 1!
15
1
1%
'!
'5
'(
#0
#1
"urchases Input $ax Accounts "aable *rei+ht In Input $ax Cash Accounts "aable Cash Accounts eceivable -ales .utput $ax Accounts "aable Cash "urchase Discount Input $ax *rei+ht .ut Input $ax Cash -ales returns & Allo>ances .utput $ax Accounts eceivable Cash -ales Discount Input $ax Accounts eceivable *urniture & *ixtures Input $ax Cash Accounts "aable Cash Accounts eceivable -ales .utput $ax
1'0,000 1!,!00 1#!,!00 5,500 0 ,10 %,'00 %,'00 (,!!0 ',000 %,!!0 %,'00 !,51' ',!00 ')) 1,500 1)0 1,)0 ',#50 ')' ',#' 5,!%' 1,1(# 1!# ,)0) (0,500 10,)0 !5,'50 !5,'50 '5,000 #(,!00 5%,500 ,(00
*rei+ht .ut Input $ax Cash Accounts "aable Cash *urniture & *ixtures Input $ax
-upplier6 An+s *urniture Date "articulars 525 '210, n2#0 *. -" 10 "artial 15 *ull -upplier6 Hill *urnishin+ Date "articulars 52'5 '210, n2#0 52#1 *ull pa3ent
500 0 50 !5,'50 !!,'#!0 (05 10)0
*
Debit
Credit 1#!,!00
8alance 1#!,!00 %,'00 0
Credit !5,'50
8alance !5,'50 0
%,'00 %,'00
*
Debit !5,'50
Page 32 of 35
Proposed answers Custo3er6 a3os Date 52'(
"articulars '210, n2#0
*
Debit #(,!00
Credit
8alance #(,!00
Custo3er6 Danilo Date 521! 1% '!
"articulars '210, n2#0 CM *ull collection
*
Debit (,!!0
Credit
8alance (,!!0 ,)0) 0
',#' ,)0)
Ma 10 15 #1
Accounts "aable %,'00 525 %,'00 '5 !5,'50
1#!,!00 !5,'50
521! '( 8alance
Accounts eceivable (,!!0 521% #(,!00 '! #(,!00
',#' ,)0)
Page 33 of 35
Proposed answers PROBLEM 15: &OMPLE%.O, O* %E A&&O,%., &&LE Account $itles Cash Accounts ecble Allo> 7or 8ad Debts "repaid -upplies @ibrar Accu3 Depn4@ibrar .77ice *urn & *ix Acu3 Depn .77ice 7urn & *ix @oans "aable Accounts "aable ubio, Capital ubio "ersonal Medical *ees Earned -alaries ent $axes tilities Interest Expense $otals ent "aable Depreciation4@ibrar Depreciation4*urn & *ix nearned Medical *ees -upplies sed $axes "aable Interest "aable tilities "aable 8ad Debts $otals et Inco3e
$rial 8alance #5,500 '05,000
Ad
%,550
Inco3e -tate3ent
h? ',%00 d? ),%50
11,500 155,000 15,500
8alance #5,500 '05,000 10,'50 ',%50 155,000
b?15,500
#1,000
(,000
(,000 ',000 '00,000 1),000 1)0,50
b? (,'00
11,'00 '00,000 1),000 1)0,50
!',000
!',000 %'(,000
%',000 110,000 (,000
c? 1',500
%1,500 %',000 1'0,000 1),''0
a?10,000 e? ',500 i? ,%'0 +? ,000 7? ,000
%5,%00 '0,000
)1,%00 ',000 a? 10,000
b?15,500 b? (,'00
10,000 15,500 (,'00
c? 1',500 d? ),%50
1',500 ),%50
e? ',500 i? ,%'0 7? ,000 +? ,000 1,15',%00
1,15',%00
h? ',%00 %(,)%0
%(,)%0
(,''0 ,000 ,000 ',%00 #5!,0%0 #',!#0 %1,500
%1,500 %1,500
)5%,'50
#',!#0 )5%,'50
Page 34 of 35
Proposed answers