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i j( -BRTC Managed by Excet Professionat Services, Inu,
; ofEN FINAL PREBOARD (April 23 and 2+ zot$)
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Note 4 (1s0,000) !
Note 5
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Quesficn No.4d61 - C
Bills and coins 5,200
Checks 2,900
Collr=ctions on 113117 (1,800)
Undeposited collections, 12131 116 @
8J00
Questron No.47/62 - D
Quesfibn No. 4U63 - D
BANK BOOKS
Unadiusted balances, 12131 I 16 50,200 61,(x]o '
Add (deduct):
Underfooting of cash recaipts joumal 6;400
Unrecorded loan prcceeds
i e,000
Overfooting of cash disbursemsnts joumal i 500
Bank *arge - dishonorcd guatanieed note (5,000)
December BSC charged lo anotterdepositor (1,200) (1,200)
I
Outstanding checks (5,600)
UndepositrJ collections (See no. 46) 6,300
Conected balances
Estimated shortage . (20,000)
Adjusted balances, 12131 I 1 6 49.700 49.700
- (P40,000 + PN,000 - P39,000)
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iresncr 'cc 5?49'- 3
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4lmcrce *J" scr.,rc#r accgJrns, 123'1,56
P- lS ,lr-il r >i 9OC,P3l.ffii x 150hj
3.las$mrc. 53168-8
Accowrts receiwbb, 1 2131 I 16
Less; Allorranca for doubtful accounts
-t4E-
150,@
d Cash 292.500
i Subscriptions rec. t{15,000 shares x P25)- P292,5001 82.500
i
I Subscribed share capital (15,000 shares x P10) 150.000
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Share premium - EOP 2?5 000
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,1ote. Subscrpiions receivabls should be Ptessnled undercurrents assels
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sr.nce it is currently colhefbla.
t 90.o00
t& e trrelersrce shares (6,0CO shares x P15)
ietained eamirgs 18.000
r- Casn (5.0CO shares x P18) 1ofl.000
li'
375,000
Retained earnings 3 75 000
Excel Professional Services, lnc
Management Firm of Professional Review and rraining center (pRTc)
(Luzon) Manila 73rgg44n%-7903 * Catamba, Laguna (049) S4S-3807
f'lisayas) Bacolod city (034) 4u-6214 " cebu city (032) 2s3-7900 Loc. 21B
(Mindanao) cagayan de oro city (088) 309-3073 * Davao city (082) 22s-0049
1.131,200
Quesfon No.29/15'D
Question No. 30/16'D
Quesfion No. 31/17 'C
38,000
Fair value of asset given up (P43,000 - P5'000)
30,000
Carrying amount of asset given uP
8.000
Gain on exchange
Quesfion No.3A18-C
(Cost - P5,000) x7155 = P42'000 an d enorfram the choices.
trr" iiirion to solve for cost of equipment using algebra or tial
il*
-
Quesflon No. 33/19'A
200,000
Carrying value, 8/1/15
(30,000)
Carrying value of asset sold (P25,000 + P5'000) (20.000)
Depreciation fqr the Year
150,000
Carrying value, 7/31/16
Quesfion No. 3420 - A Machine A Machine B
Fair value 1,800,000 1,550,000
Carrying amount, 1A31ho
lncrease (Decrease)
PrL (RL)
Quesfion No.3ff21 - C
Quesfion No. 36/22 - D
Land held as potential Plant site 5,000,000
Vacant building to be leased out under an operating le 20,000,000
Building being leased out to a subsidiary 8,000,000
lnvestment properties in the separate FS i'Ed66f6o-
Questlon No. 37/23 - D
Patent amortization (P70,000/20)
-----9,999-
Quesflon Na. 382.4 - A
Quesfion No. 3925 - C
Date of classification as held for sale:
Carrying amount (P1M - P7SO,OOO)
Fair value less costs to sell (P100,000 - P10,000)
lmpairment loss
Quesffon No.63/49'C
Quesfrbn No, 64/50'A
Queslfon No. 65/51 'B
Quesfbn No.66/52'A
Quesfion No. 67/53'D
Qreslion No. 68/5'4 - D
Share caPital 11,500,0@
Retained $amings (P6,580,000' Pl,200,000) 5,380,000
(870.000)
TJeasury shares .#
,r6.010.000
Totalequity
Nofei It e orlginal versionoffhe FFRS forSME$ does not allwthe usd of revaluatlon model.
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