Scribd Logo
Upload

Welcome to Scribd!

  • 38 views

    Ia Assignment 2

    Uploaded by

    Shekinah Sesbreno
    The document is the statement of profit or loss and other comprehensive income for Lunch Co. for the year ended December 31, 20x1. It shows that the company had total sales of 22 million pesos and cost of goods sold of 6 million pesos, resulting in a gross profit of 16 million pesos. After deducting expenses, the company's profit for the year was 8.19 million pesos. The company also had total comprehensive income for the year of 8.42 million pesos.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Ia Assignment 2

    Uploaded by

    Shekinah Sesbreno
    38 views2 pages
    The document is the statement of profit or loss and other comprehensive income for Lunch Co. for the year ended December 31, 20x1. It shows that the company had total sales of 22 million pesos and cost of goods sold of 6 million pesos, resulting in a gross profit of 16 million pesos. After deducting expenses, the company's profit for the year was 8.19 million pesos. The company also had total comprehensive income for the year of 8.42 million pesos.

    Original Description:

    statement of financial position

    Original Title

    IA ASSIGNMENT 2

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is the statement of profit or loss and other comprehensive income for Lunch Co. for the year ended December 31, 20x1. It shows that the company had total sales of 22 million pesos and cost of goods sold of 6 million pesos, resulting in a gross profit of 16 million pesos. After deducting expenses, the company's profit for the year was 8.19 million pesos. The company also had total comprehensive income for the year of 8.42 million pesos.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    38 views2 pages

    Ia Assignment 2

    Uploaded by

    Shekinah Sesbreno
    The document is the statement of profit or loss and other comprehensive income for Lunch Co. for the year ended December 31, 20x1. It shows that the company had total sales of 22 million pesos and cost of goods sold of 6 million pesos, resulting in a gross profit of 16 million pesos. After deducting expenses, the company's profit for the year was 8.19 million pesos. The company also had total comprehensive income for the year of 8.42 million pesos.

    Copyright:

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

    Lunch Co.

    Statement of profit or loss and other comprehensive income


    For the year ended December 31, 20x1
    (Amounts in Philippine peso)
    Notes
    Sales 22,000,000
    Cost of goods sold 12 -6,000,000
    Gross profit 16,000,000
    Distribution cost 13 -2,230,000
    Administrative expenses 14 -3,050,000
    Impairment loss on financial assets -190,000
    Finance costs -340,000
    Profit before tax 10,190,000
    Income tax expense -2,000,000
    Profit for the year 8,190,000
    Other comprehensive income
    Items that will not be reclassified subsequently:
    Investment in equity insruments 200,000
    Items that will not be reclassified subsequently to profit or loss:
    Cash flow hedges 30,000
    Other comprehensive income for the year, net of tax 230,000

    TOTAL COMPREHENSIVE INCOME FOR THE YEAR 8,420,000

    Notes

    Note 12: Cost of goods sold


    Beginning Inventory 1,700,000
    Purchases 5,600,000
    Purchase returns -500,000
    Freight in 400,000
    Total goods available for sale 7,200,000
    Ending inventory -1,200,000
    Cost of goods sold 6,000,000

    Notes 13: Distribution costs


    Salaries of sales personnel 670,000
    Advertising expense 320,000
    Rent expense 140,000
    Commission expense 1,100,000
    Distribution costs 2,230,000
    Note 14: Adminstrative expenses
    Research and development expense 180,000
    Director's remuneration 2,000,000
    Salaries of administrative personnel 520,000
    Rent expense 140,000
    Depreciation expense 160,000
    Insurance expense 50,000
    Administrative expenses 3,050,000

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy