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
5,807,000
Inventory
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
1,374,000
Retained Earnings
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
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