Date Performed: _____________________ Instructor’s Signature: ________

Date Checked: ________________________ Date Returned: ______________

Score: ____________

Your activity:
Determine whether the business has made profit, loss or at the business is at break-
even.
1. Sherlock Wills Pumping Services has the following data on December 31, 2018:
Shop Revenue Php 150,000.00
Other Revenue 100,000.00
Permits and licenses 8,300.00
Salaries expense 36,000.00
Transportation Expense 13,100.00
Insurances 25,000.00
Utilities Expense 32,000.00
Your answer:

2. On June 30, 2017 Jan Frans Transit Corporation shows the following account balances:
Transportation Service Revenue Php 55,000,000.00
Gasoline and Oil 12,000,000.00
Repairs and Maintenance Expenses 3,200,000.00
Salaries and Wages 10,230,000.00
Utilities Expense 960,000.00
Commission 3,580,000.00
Your answer:

3. The books of Jasper and John Kent (JJK) Security Services showed the following
account balances on December 31, 2016:
Insurance Expense Php 1,200,000.00
Other Income 20,000,000.00
Pag-Ibig Premium 980,000.00
PhilHealth Premium 2,500,000.00
Salaries Expense 92,000,000.00
Service Revenue 180,000,000.00
SSS 1,280,000.00
Transportation Expense 2,150,000.00
Utilities Expense 2,600,000.00
Your answer:
4. On September 30, 2015, JK Dahomera Utility Services decided to wind up their business
operations because the account balances showed the following:
Utility Service Revenue Php 120,000.00
Other Revenue 10,000.00
Salaries and Wages 84,000.00
Insurance Expense 25,000.00
Permits and Licenses 7,500.00
Utilities Expense 3,500.00
Miscellaneous Expense 5,200.00
Employee Benefits (SSS, Philhealth, Pag-Ibig) 25,000.00
Your answer:

5. The balances of Hubbies’ Tailoring Services on December 31, 2015 were as follows:
Materials Php 15,000.00
Miscellaneous expenses 10,000.00
Service Fees 65,000.00
Utilities 15,000.00
Wages 25,000.00
Your answer: