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  • 07 Activity 1

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    Althea Novida
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    The document provides financial statements for Wendy Services Inc. for years 200A and 200B, including: - A balance sheet showing increased assets such as cash and equipment, and increased liabilities and owner's equity. - An income statement showing increased revenue from $600,000 to $900,000 but constant expenses, resulting in increased net income from $250,000 to $550,000. - A scenario asking to use the P-M-I chart to choose between the balance sheet and income statement to make a decision on Wendy Services' loan request to build a new branch, and to justify the decision.

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    07_Activity_1(24) (1)

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    The document provides financial statements for Wendy Services Inc. for years 200A and 200B, including: - A balance sheet showing increased assets such as cash and equipment, and increased liabilities and owner's equity. - An income statement showing increased revenue from $600,000 to $900,000 but constant expenses, resulting in increased net income from $250,000 to $550,000. - A scenario asking to use the P-M-I chart to choose between the balance sheet and income statement to make a decision on Wendy Services' loan request to build a new branch, and to justify the decision.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    5 views2 pages

    07 Activity 1

    Uploaded by

    Althea Novida
    The document provides financial statements for Wendy Services Inc. for years 200A and 200B, including: - A balance sheet showing increased assets such as cash and equipment, and increased liabilities and owner's equity. - An income statement showing increased revenue from $600,000 to $900,000 but constant expenses, resulting in increased net income from $250,000 to $550,000. - A scenario asking to use the P-M-I chart to choose between the balance sheet and income statement to make a decision on Wendy Services' loan request to build a new branch, and to justify the decision.

    Copyright:

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

    BM2211

    Names Section Date

    P-M-I CHART
    Instruction: Respond to the scenario below by using the P-M-I Chart. Write your answers in the spaces
    provided. (20 points)
     In the Interesting box, write some facts about the specific financial statement.
    Scenario: Shark Loans received a request for a construction loan from Wendy Services Inc. This
    construction loan will be used to build their fifth branch in Pasay. The company submitted its balance
    sheet and income statement. Help Shark Loans choose which financial statement they would use as a
    basis on whether they will accept or reject Wendy Services Inc.'s request. Refer to Page 2. Justify your
    decision.

    Response 1: Statement of Financial Position Response 2: Income Statement

    Plus Minus Plus Minus

    Interesting Interesting

    My Decision

    07 Activity 1 *Property of STI


    Page 1 of 2
    BM2211

    Names Section Date

    WENDY SERVICES INC.


    Balance Sheet
    December 31
    200A 200B
    Assets
    Cash ₱166,320.00 ₱332,640.00
    Accounts Receivable 119,350.00 59,675.00
    Office Supplies 5,775.00 5,775.00
    Prepaid Insurance 15,400.00 15,400.00
    Office Equipment 261,800.00 300,000.00
    Accumulated Depreciation 53,900.00 207,900.00 61,500.00 238,500.00
    Total Assets ₱514,745.00 ₱651,990.00
    Liabilities and Owner's Equity
    Accounts Payable ₱53,900.00 ₱107,800.00
    Salary Payable 9,240.00 9,240.00
    Unearned Revenue 23,100.00 27,800.00
    Total Liabilities ₱86,240.00 ₱144,840.00
    B. Sia-Ko, Capital 428,505.00 507,150.00
    Total Liabilities and Owner's Equity ₱514,745.00 ₱651,990.00

    WENDY SERVICES INC


    Income Statement
    December 31
    200A 200B
    Revenue:
    Service Revenue ₱600,000.00 ₱900,000.00
    Expenses:
    Equipment rental expense ₱200,000.00 ₱200,000.00
    Wages expense ₱90,000.00 ₱90,000.00
    Utility expense ₱60,000.00 ₱60,000.00
    Total expenses ₱350,000.00 ₱350,000.00
    Net Income ₱250,000.00 ₱550,000.00

    Rubric for grading:


    CRITERIA PERFORMANCE INDICATORS POINTS
    Content Provided pieces of evidence, supporting
    16
    details, and factual scenarios
    Organization Expressed the points in a clear and
    of Ideas logical arrangement of ideas in the 4
    paragraph
    TOTAL 20

    07 Activity 1 *Property of STI


    Page 2 of 2

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