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entrep 07 activity 1, Exercises of Entrepreneurship

STI Colleges and Education Centers (STICEC)Entrepreneurship

pmi chart...............................................................

Typology: Exercises

2020/2021

Uploaded on 12/12/2021

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GE1715
07 Activity 1 *Property of STI
Page 1 of 2
P-M-I CHART
Instruction: Respond to the scenario below by using the P-M-I Chart. Write your answers on the spaces
provided.
• In the Interesting box, write down 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 for the building of their fifth branch in Pasay. The company submitted their
statement of financial position 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
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GE

07 Activity 1 _Property of STI_* Page 1 of 2

P-M-I CHART

Instruction: Respond to the scenario below by using the P-M-I Chart. Write your answers on the spaces provided.

  • In the Interesting box, write down 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 for the building of their fifth branch in Pasay. The company submitted their statement of financial position 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

GE

07 Activity 1 _Property of STI_* Page 2 of 2

WENDY SERVICES INC.

Balance Sheet December 31 200A 200B Assets Cash ₱166,320.00 (^) ₱332,640. Accounts Receivable 119,350.00 (^) 59,675. Office Supplies 5,775.00 (^) 5,775. Prepaid Insurance 15,400.00 (^) 15,400. Office Equipment 261,800.00 (^) 300,000. Accumulated Depreciation 53,900.00 207,900.00 (^) 61,500.00 238,500. Total Assets ₱514,745.00 (^) ₱651,990.

Liabilities and Owner's Equity Accounts Payable ₱53,900.00 (^) ₱107,800. Salary Payable 9,240.00 (^) 9,240. Unearned Revenue 23,100.00 (^) 27,800. Total Liabilities ₱86,240.00 (^) ₱144,840.

B. Sia-Ko, Capital 428,505.00 (^) 507,150. Total Liabilities and Owner's Equity ₱514,745.00 (^) ₱651,990.

WENDY SERVICES INC

Income Statement December 31 200A 200B Revenue: Service Revenue ₱600,000.00 ₱900,000. Expenses: Equipment rental expense ₱200,000.00 ₱200,000. Wages expense ₱90,000.00 ₱90,000. Utilities expense ₱60,000.00 ₱60,000. Total expenses ₱350,000.00 ₱350,000. Net Income ₱250,000.00 ₱550,000.