Hello, good afternoon everyone. I am your tutor for today for Fundamentals of Accounting, Business and Management. So, last time po ay nagkita-kita na po tayo and I already introduced to you topics that will help you of course in studying accounting.
So, bago po ako magsimula sa aking... Sa araw po nito, gusto ko munang batiin ang lahat po na nandito po ngayon na nanonood po sa ating E2 Live. Pero may mga bata po ako nakita dito na nag-wave po sila.
Hi, good morning! Araneta Nathalie Grace P. She's from Malabe Vocational Technical School, Senior High School, Grade 11. Hi Nathalie! I hope you're doing well and I hope you're doing fine.
Okay po, so... I hope po na ma-enjoy po ninyo yung lesson po natin today as we enjoy of course last week. So medyo mas comprehensive po ang ating pag-aaralan po ngayon.
Pero I will surely make sure that you will enjoy and at the same time learn. Yan po ang mahalaga po dito, nag-e-enjoy tayo at the same time, natututo po tayo. Huwag po tayo matakot sa accounting.
Ang accounting po ay isang subject po na kailangan lang ay pag-aralan, kailangan lang ay gustuhin, kailangan lang ay i-analyze. Pero ito po ay eventually mag-e-enjoy po kayo kasi this is an application subject that you can use and considered as a life skill. So, let me start. Okay, start na po tayo sa ating lesson for today. By the way po, pakilala ko po ulit ang aking sarili.
Ako po si Tutor Carmi. Ako po ay isang mentee. Opo, ni Ma'am Carol po at ni Ma'am Nell Rose po. Ayan. So for today, we are going to talk about Statement of Comprehensive Income, Multiple Step.
Last time po, anong pinag-uusapan natin? Statement of Comprehensive Income, Single Step. So ngayon, madaming step na yung pag-aaralan natin. Pero gagawin natin masaya itong pag-aaralan natin na ito. So what are the objectives that we want to achieve?
So identify the elements of SCI or Statement of Comprehensive Income and describe each of these items for a merchandising business. And prepare an SCI for a merchandising business using multiple step approach. So yun po ang mga gusto natin ma-achieve po sa araw na to. And I hope that we will, as we do the lesson, as we do the process, tayo po ay ma-achieve po natin at ma-attain po natin itong objectives na sinet po sa atin.
So before we start, let's have first a review. Gusto ko pong makita. Sana po yung mga nanunood po dyan sa akin. Mag-review po tayo ng ating past lesson.
Importante po na ma-refresh tayo kung ano yung mga pinag-aralan natin. Kasi everything that we study is actually linked with the next topic. Kaya importante po na magkaroon muna tayo ng konting review.
Okay, let's have true or false. Indicate whether the given statement is true or false. Okay, number one. Pwede po kayong sumagot kapag gusto po ninyong sumagot.
Just comment po sa ating mga inbox po. Just ano po, i-acknowledge ko po kayo. So, let's start. So, number one.
Statement of comprehensive income is also known as income statement and statement of financial performance. What do you think is the answer? Is it true or false? Statement of comprehensive income is also known as income statement and statement of financial performance. Yes.
Sana po may mga sumagot po. Okay. Hi, Russell.
Habang sinasagot po ninyo, kamusta po kayo dyan? Ayan. Sige po.
Ang ang po kaya ang answer nito is Statement of Comprehensive Income, also known as Income Statement and Statement of Financial Performance. Let me reveal the answer. I hope po yung mga sa mga nanunood po dyan ay parehas po tayo ng answer.
And the answer is true. Opo. Ang Statement of Comprehensive Income is considered as a Statement of Financial Performance or ito po yung tinatawag nating report card ng mga businesses po.
Okay? Number two, if the revenue is greater than expense, the business incurred losses. Kapag daw ba ang revenue ay greater than the hour expense in the business, Nag-incurred ba tayo ng losses? What do you think is the answer? Is it true or false?
So if your answer is false, you are correct. Okay, tama po kayo. Kasi po, dapat po pag sinabi po natin revenue is greater than expense, ibig sabihin po nag-gain po tayo.
Nag-gain po tayo ng profit. Kasi mas madami tayong kinita. kesa sa ating ginastos. Then, number three. Statement of comprehensive income is a financial statement that provides information about entity's past performance.
Ito ba ang statement of comprehensive income or the income statement is considered or good giving an information about entity's past performance? Okay, if your answer is true, Then, you are correct. Opo, kasi sabi ko nga kanina, the statement of comprehensive income or statement of financial performance is the report card of all the businesses.
Pinapakita po nito kung maganda ba ang kanilang naging performance, kung marami ba silang sales, kung marami ba silang naging income. Then, number four. Single-step presentation of SCI is used by service entities. Single step presentation of SCI is used by service entities. Kung ang tamang answer po ninyo dyan ay true or false, true?
Okay. For sure po. Tama po ang answer nyo dahil po ang single step po ay ginagamit natin sa mga service entities po. Now, sige.
So, since po na... I hope na medyo lahat po ay tama ang naging sagot po ninyo. Okay? Parang madami na akong nakikita. Ayan, mukhang yay.
Andami pala. Ah, hello, Kina Aysel Tubbo. Hello.
Jerlene Lumako. Parang tama naman ang mga... Oh, hello, kamusta po kayo?
Sa aking mga studyante na nandito, thank you for supporting me. Maraming salamat from Mikawaya National High School. Hello mga JP Morgan section po na grade 12. Kamusta po kayo?
Nandiyan dyan po kayo to support me. God bless you all. Sige, tingnan po natin ha. Let's have po yung ating next...
Yan. So maraming salamat po sa pag-answer. Now, let's talk about Statement of Comprehensive Income Multiple Step.
So last time, pinag-usapan po natin yung Statement of Comprehensive Single Step na ginagamit po sa ating mga service entity. Pag sinabi nating service entity, sila po yung mga businesses po na nag-offer ng service such as yung kanilang mga talent, yung kanilang mga skills, yan po yung ginagamit po nila to serve other people and of course, generate an income from it. Now, when you talk about naman Statement of Comprehensive Single Step, comprehensive income, another method of presenting the statement of comprehensive income used by merchandising business, okay?
Ang tawag natin doon ay multi-step presentation. Kung baga po, wherein various of stages should be done in able to arrive at its net income. So, before we do, before we arrive in the net income, maraming muna siyang pagdadaanan na computation or calculation or recognition na tinatawag po natin sa accounting.
So, kailangan marami, dahil po ang merchandising business actually po, is a business po na iba po ang kanilang approach. Okay? Iba po ang approach nila pagdating po sa when it comes to activities or operation na tinatawag po natin sa business. So, Pag-aralan muna natin ano yung merchandising business. Ang merchandising business is actually po an organization that deals with buying and selling of goods.
So, ibig sabihin po nun, dalawa po ang perspective na tinitignan natin for the merchandising company. Una-una po, it is buying and at the same time, they are also selling. Ang merchandising nga lang po... bumibili sila ng produkto, tapos yung binili nilang produkto po, yun ay ibinibenta nila.
So there is no conversion of raw materials to another materials or into product. So yung mga ganun naman po na business ang tawag natin doon, manufacturing. Pero pag merchandising, bumili ka ng isang lata ng sardinas, ibibenta mo yung isang lata ng sardinas.
sa iyong mga customer. So, yun po ang perspective na titignan natin sa merchandising company. Tandaan din po natin that when we talk about SCI, we are actually referring, nakikita po natin yung kanilang activity sa business.
Anong ginagawa nila? Ano yung, ano nangyayaring operation doon sa loob ng business na yun? So, pag nakita po ninyo na maganda ang operation nila, kasi figures will tell you.
Okay? earns revenue by selling goods either po wholesale or retail. Siguro po naririnig niyo po yung napakagandang example dyan. Ano kaya magandang example ng mga merchandising business po? What are the examples of merchandising business po?
Hi, Ma'am Carol. Sige nga po sa aking mga ano po dyan. Ano po ang ano po ang mga mga possible example of merchandising business.
Ayan, Brian, from Brian Tadioque, it's a sari-sari store. Alam nyo po yan po, parang simple-simple lang po siya, pero kapag pinag-usapan po natin sari-sari store, yan po ang pinakamagandang example ng merchandising business. Kasi po, pag bumili ka na sa sari-sari store mo ng produkto, ibinibenta mo yun sa iyong community, no? Sige po.
Ano pa po? Yes, from Vince Monteliano, it's a grocery store. Okay, yan sabi ko na nga.
And for Miss Page May Dumo, okay. Ay si Vincent sabi niya rin po, bookstore. Yes po.
So lahat po ng binibili po natin at ibinibenta po natin right away, yun po ay natawag po nating merchandising business. And it's whether wholesale or retail. Pag sinabi natin example po ng wholesale, mapunta po kayo sa Divisoria.
Yan po ang pinakamagandang example for wholesale. Okay? Okay. So let's have another slide.
So eto po, kukompare po natin yung statement of comprehensive income ng service at ng merchandising po. Kung titignan po ninyo, medyo mas madami po ang nakalagay na accounts dito sa statement of comprehensive of merchandising kesa po dito sa statement of comprehensive income ng service. Ayan. So... Tignan muna natin ano yung mga pagkakaiba.
Tignan nyo po kung parehas po tayo na nakikita. Both of, yun may same muna yung tignan natin, the similarities. Both statement of comprehensive incomes, of course, features, expenses. And natural po, ang gusto nating makita, the result of the hour operation, the net profit, at parehas din po nito, merchandising.
SCI income statement po ng merchandising, they also features po net profit. Pero kung titignan po ninyo, mayroon pong dalawang dapat po tayong i-prepare, enable for us to get po yung pinaka revenue from, to get the revenue from the services. Tignan po natin.
So, yung net sales po, kailangan muna natin siyang i-consider and i-recognize. Kasi that is the seller side. Kailangan po i-recognize natin yung mga, i-record din natin yung seller side or yung ating tinatawag po na seller activity. Now, we have also the cost of goods sold.
Yan po yung isa po sa mga wala po sa service po or sa state SCI po ng service. Okay. So, kung titignan po ninyo rin yung SCI, statement of comprehensive income service po, direct po kagad. Okay?
Dito po may gross profit pa, para makuha mo yung gross profit. Dito po sa SEI, ito lang po yan. Parang ito po yung equals po niya.
Yung revenue from services at yung gross profit po, yung related po yan sa isa't isa. Yung po, kung baga, kung revenue from services po sa service, dito po, gross profit po. Pero kailangan mo muna, i-recognize ang net sales at i-recognize ang cost of goods sold.
Okay? So pag usapan natin yung net sales na yan, yung cost of goods sold na yan, okay, gaano ba yan nakaka-apekto doon sa operation po ng isang merchandising company or merchandising business. So let's talk about net sales po. Pag sinabi natin net sales, um, Kailangan po natin i-determine yung gross sales.
Pag sinabi natin gross sales po, ito yung total sales for cash on credit during the accounting period. So, it's either po cash na natanggap po natin, or kahit po utang pa lang po ito sa atin, we consider that as our sales. Okay?
Then, we have po yung sales discount. So, tayo po as seller, tayo po ay nagbibigay siyempre ng discount sa ating mga customer. Bakit tayo nagbibigay ng ganun? Kasi para maintay sila na maging suki natin sila, diba?
Kung hindi po natin gagawin to, siyempre po, hindi po sila magiging suki natin or hindi po nila tayo ipapatronize. Yung giving them, of course, that's what we call goodwill na tinatawag po sa accounting. Yung po yung isang way of saying that we are actually appreciating our customers. So we are giving them sales discount.
And of course, that is considered a contra-revenue account. So binabawas natin yung sa sales. Then, tayo din as a seller dapat isipin natin na tayo ay may possibility na magbalik ng mga sales.
At mayroon din po, kaya po nga tinawag ka sales return and allowance. Ibig sabihin po, anticipated po natin sa business po natin na may mga posibilidad na may magbabalik po ng mga defective product at kailangan po sa pagbalik po ng kanilang defective product ay ito po ay ibabalik natin sa kanila yung binayad nila. So that is sales return and allowance. Pag tinawag naman po natin delivery expense or freight out, okay, ibig sabihin po noon, ang nagsisholder po kasi ng shipping fee na tinatawag po natin, ay ang seller. Okay?
Meron po sa ibang book, ang tawag po nila dyan, delivery expense, freight out, or transportation out. So, lahat po yan, ang involved po dyan, ang activity na po yan, ay for seller. So, for us to arrive on our net sales po. Kaya, cost of sales or cost of goods sold. So, kanina tinignan natin yung side po ng ating mga seller.
Ngayon po, tignan naman po natin yung side ng mga buyer. So ano po ba yung cost of goods sold? The cost of goods sold is the cost of inventory that entity has to sold to customer.
Alam nyo po, ang pagkakaiba po, isa sa pinakapagkakaiba din talaga po ng isang service entity at isang merchandise entity ay yung pong meron po tayong kinukonsider na inventory sa merchandise kasi nga po produkto na po yun. It is already a finished product that of course we offer to our customer. So, merchandise inventory po, ito po yung mga goods na binibili po natin that of course intended for resale.
Meron po tayong tinatawag na beginning and ending inventories po na ginagamit po natin if of course in calculating the cost of sales in the statement of comprehensive income. importante po na we are acknowledged or we acknowledge at the same time pag nagbibilang talaga tayo ng ating mga produkto. Kasi yun po yung magiging basis ng sales natin eh, yung ating mga merchandise inventory. Now, when we talk about purchases po, kasi sa mga companies po na merchandising, may dalawa pong method na ginagamit for inventory system. They have of course the periodic at meron po silang tinatawag na perpetual.
Now po itong purchases, under po ito ng periyodik. Pag sinabi natin periyodik, pinakamagandang example po na gumagamit niyan, yung pong mga maliliit po talaga na tindahan. Pero pag perpetual po, okay, pag perpetual po kung naka-familiar po kayo sa mga barcode na tinatawag po natin. Ayan. Yan po yung mga perpetual inventory system na ginagamit po sa mga malalaking company po.
So, when we talk about purchases po, assuming po na ang gagawin po talaga natin ngayon is more of a small merchandise company, when using periodic inventory method, it is a temporary account. By the way po, lahat po na nasa income statement po is considered as a temporary account or nominal account na tinatawag po natin sa accounting. When we talk about nominal or temporary account, it will be closed at the end of the account. period.
Ibig sabihin po, hindi na po siya makikary over on the next accounting period kasi po, magpapanibago na naman tayo na performance, magpapanibago na naman po tayo na expenses. Hindi po yan katulad ng mga account na nandodon po sa balance sheet na it can be carry over on the next accounting period. Okay? So, another po is purchase return and allowance.
So po, tayo po mga buyer, syempre po alam po natin na kapag tayo ay bumibili ng produkto may mga tendency na nagiging depektibo yung itong mga product na to and of course once we return the product, okay that will be of course deducted to our payables. Okay? So that is purchase return and allowance in perspective of the buyer. Then, when we talk about purchase discount, okay, so it's a contra account that is deducted from the purchases on the statement of comprehensive income. So, ito po yung binabawas po.
Okay? Binabawas po sa mga binabayaran natin kasi po nag-prompt payment. po tayo, o kaya naman natuwa sa, pero alam nyo yun, yung sabi ko nga pong tinatawag kong goodwill po sa accounting po, yan po yun. Kaya po, malaki po, ang malaking bagay po, yun na hindi lang it's not about monetary, but of course the feeling of our customer is very important. Yung na-fulfill nila that they are given privilege, diba po?
Tapos po, we have also to consider in the cost of goods hold, yung freight in At saka po yung, o kaya yung tinatawag nating transportation in sa ibang libro. Yan. So ano po ba ito?
Ito po yung cost incurred by buyer for picking up the merchandise purchase from the supplier to the place of the buyer. Kung titignan po ninyo, pinakamagandang example po ito sa freight in, o kaya transportation in po. Pag kayo bumibili po sa Lazada.
Diba po? Pag nagbumibili po kayo sa Lazada, kayo po ay nagbabayad po ng shipping fee. As a buyer, binadagdag po yun sa ibabayad po ninyo.
So that is considered as free pin. Okay? Sige.
Mukhang sana na-enjoy nyo ha yung mga ibig sabihin ng ating ating ano. So sige po. Sa pagpapatuli po ng ating pag-uusap, ng ating discussion.
Ayan. So, piprepare na tayo ng SCI multi-step. Okay?
Una bang unang gagawin? Step 1, prepare heading. Parang lang po yung pagpapakilala, introducing ourselves.
Okay? Pagpapakilala po tayo, pinapakilala po natin ang ating mga sarili. Ganun din po ang ating mga business. Kailangan po, pinapakilala po natin sila palagi. Importante po nakilala po sila para mas marami pong bumibili sa kanila, no?
Prepare the heading derived from the business name with the name of financial report and of course for reporting period. For example ko po ito, si Ewin Scarsha, Statement of Comprehensive Income for the year ended December 31, 2020. Yan, so nakita po ninyo, yan po ang paggawa ng heading. Again po, tandahan po natin yung pyramid po na... construction po, parang yun po yung kanilang format. Okay, pyramid format of the name of the business.
Then, number two, step two po tayo. Prepare po tayo ng schedule ng net sales and cost of goods. So, to determine gross profit of the business.
Tandaan po natin, may mga malalaking pong company, ang ginagawa po nila, ay hindi po nila totally pinapakita sa presentation ng kanilang ng kanilang financial statement, yung kanilang mga nexus, yung cost of goods sold, they considered that as a schedule. Pag sinabi natin schedule, parang yun po yung pinaka computation. At saan po nila nilalagay po yun? Nilalagay po nila yung pinaka computation po doon sa tinatawag po natin notes to financial statement.
Kaya po, considered pa rin po sa accounting, kung babasahin niyo po yung mga accounting book, na hindi na po apat lang ang financial statement na meron po tayo. Meron po tayong lima. Kasama po dyan ang notes to financial statement.
Kasi po, if ever you want to see the details about the total amount that was presented in the financial statement po, punta ka doon, just refer to the notes to financial statement. Yun po ang function ni notes to financial statement. So yung computation po doon, gusto nyo, bakit naging ganito, bakit naging 1 million for example. So punta ka lang po doon sa notes to financial statement at check mo doon yung computation, yung detailed computation po ng...
Cause of good soul, ng net sales po. So, ganun po ang kalakaran po ngayon, lalo na sa mga malalaking company. And if there are yung mga audit reports po na pinapagawa po natin sa ating mga CTAs po, meron po talaga silang nilalagay or it is a part of the financial statement that was presented to their client. Okay?
Notes to financial statement. So, yan po. For example, nag-note 1 po tayo, net sales pro forma. So ito lang po yung tsura ng net sales natin. Kanina po, di ba, sabi ko sa inyo, kailangan natin consider ang gross sales, pati po yung sales return allowance, pati po yung discount, para po tayo ay mag-arrive doon sa ating net sales.
Amount to be supplied in computing the net sale was derived from trial balance. Again po ah, lahat po ng mga amount na to ay hindi po tayo gagawa ng sarili-sarili po nating ano, ng ating mga numbers. Ito po ay of course derived from our trial balance or adjusted trial balance na meron po tayo sa ating paggawa ng accounting cycles.
Then, to calculate the net sales po, nakikita po natin dito, Na yung gross sales po, ililest lang natin yung sales return and allowance. Kaya po siya yung tinatawag natin kontra-revenue account. Tapos po pati po yung sales discount. So yung total po na ililest po natin sa gross sales. And then we can arrive in our net sales.
Dito po, meron po tayong 2,393,250 na net sales po. Yan. Okay, next po.
Dito tayo sa Note 2. Ito pong Note 2, medyo ito po ang pinakamadaming dapat tayong i-recognize na accounts. Sige po, pagtignan po ninyo ha. So ito po yung pro forma ng cost of goods sold. So paano paano po ba tayo gagawa ng pro forma ng magpe-prepare ng cost of goods sold? So nakikita nyo na bakit po multiple steps siya no?
Kasi nga po, maraming steps. Maraming calculation ka muna bago ka mag-arrive dun sa pinaka revenue or pinaka gross profit na tinatawag po natin sa ating merchandise business. So number one po, i-recognize po muna natin yung ating merchandise inventory beginning.
Actually po nakikita po itong merchandise inventory beginning po sa ating balance sheet. Then po, purchases po. compute for the net purchases. Okay?
Ano ba yung mga, paano ba tayo magkukumpute ng net purchases po? So ito lang pong gagawin natin, purchases po, iles lang po natin yung purchase return and allowances, pati po yung purchase discount, makukuha na po natin yung ating total purchases, then ia-add lang po natin yung ating transportation in or yung ating pong freight in o yung shipping fee to get of course the net purchases. That is 1,268,600. Then we have to compute the total goods available for sale. Yan po yung sunod-sunod na para po kayo ay pag nag-ano po kayo, nag-gawa kayo ng cost of goods sold na schedule po, alam nyo na po ano yung mga accounts na dapat i-recognize po na natin para po tayo ay makapag-come up po ng ating cost of sales or cost of goods sold.
So compute. compute na po natin yung total goods available for sale natin, ano man gagawin? By adding merchandise inventory beginning and net purchases.
Kasi nakuha na po na natin yung net purchases, na-recognize na rin po natin yung merchandise inventory beginning natin. So, eto na po yung tinatawag natin, total goods available for sale. So, after po niyan, To finally arrive po doon sa total amount ng cost of goods sold natin, kailangan po natin i-recognize ang merchandise inventory from the total goods available.
Okay? Yan. So total goods available, iles po natin merchandise inventory end natin. Okay?
Para po malaman natin ang total cost of sales or cost of goods sold natin. So yan. Dahil po alam na po natin yung mga total, ano po, using the total net sales and cost of goods sold, calculate the gross profit. Siyempre po, kailangan malaman na natin yung gross profit natin.
And of course, kailangan i-recognize na rin po natin yung total operating expense natin. Then deduct po natin yung ating operating expense from the total gross profit to determine. Para malaman po natin kung tayo po ba ay nag-gain ng profit o nag-include.
curve ng losses. Ayan po. O yan, yung net sales po natin, less po natin yung cost of goods sold.
Ang gross profit po natin ay 1,079,650. Okay, ang total po naman ng ating operating expenses po. Pwede din po pala sa mga ibang kumpanya ha, nakalagay po yung total ng operating expense po dun sa notes to financial statement, lalo na po kung malalaki pong silang Malaking company po sila.
Pero po ito, for example, purposes lang naman po ito, kaya ganito po, pwede po siyang i-present ng ganito. Then, iles po natin ating total of expenses doon sa ating gross profit para malaman po natin ang ating net profit which is 769,650 pesos po. Meaning, nag-gain po ng profit. Nag-gain po si E-Wins.
Car shop ng 769,650. So yan po ang kanyang, ititingnan po natin yan po ang Ewin Scarshot Statement of Comprehensive Income for the year ended December 31. So nakita po ninyo dito, nakita nyo may mga note 1, note 2, para po makita, ibig sabihin po, please refer. Refer to the statement, refer to the notes to financial statement.
Okay. So, pang ano po, gusto ko makita yung ano, now, kamusta po, bago tayo mag... Gusto ko pong kamustahin sila dyan Christian Asis, kamusta po kayong lahat? Ma'am Aubrey Luisa From TNCHS Senior High School, maraming salamat po Na nandito po kayong lahat ngayon Ma'am Melody Vergara of Felb Wisdom Doña Josefa Campus Kamusta po kayong lahat?
So I hope that nag-i-enjoy po tayo Let us practice po muna Tignan natin, let's check kung paano po tayo Natuto sa ating Ah Lesson po for today. Okay, let's have our exercises. Choose the correct letter of the answer that matches the given concept. Sumagot po kayo ha. Try po ninyong sumagot.
Para po, this is an interactive lesson. Para po lang na tayo nasa classroom po. Kasi po, pag nahiya po kayo doon po talaga mahihirapan po kayo mag-pub up eh.
Basta po kung tama o mali, ang mahalaga po na tuto. Okay? So number one, a business that deals with buying and selling.
Sige nga po, tignan ko nga po yung mga gusto pong magsumagot. A business that deals with buying and selling. Ano po kayong ano niya? Okay, according to Brian, it is letter D. And how is it leave?
Abo, Jerlyn Lamauko. Ah, Lumaukaw. Lumakaw. Hello, pasensya na po.
Diane Isabel Romeo. Sige, check natin kung tama yung mga sagot nila. Is it letter D? Yes, you're correct.
Diba po? Letter D. Ito po yung business na nagde-deal with buying and selling and it is also called as merchandising. Business, okay?
Or merchandising concern. May mga book po kasi na yun ang mga nakalagay po sa kanilang mga libro or information po. So, wag po kayo malilito doon. Gross sales less sales return. So, number two na po tayo.
Gross sales less sales return in allowance and sales discount. Ano po kaya yung ating hinahanap po doon? Check ko nga po.
Number two? For number two, ano po ang sagot kaya ng number two? Gross sales po, pag nilest po natin yung gross sales natin sa sales return and allowance and sales discount, ano po kaya ang sagot po doon?
Okay, tignan po natin. Yan, sige. Kung tignan, kung ang answer po ninyo ay letter E or net sales, you are correct. Galing. Alam ko magaling mga.
ABM learners natin dyan sa sa iba't ibang skwelahan eh. At alam ko po na I hope that you are enjoying right now. Then next step, we have number three.
A cost of inventory that entity has to sell to customer. Anong ibig sabi? Ano po ang tinutukoy sa statement na to? Is it A, cost of goods sold?
B, purchases? C, total goods available for sale? Merchandising?
Letter D, E, net sales? F, operating expense? Ano kaya pong sagot?
Ayan, mukhang maraming sumagot po. Ay, maraming nakakuha ng tamang sagot sa number 2 natin. Gawin na natin isa pang tamang sagot para sa number 3. Okay?
So, tignan natin, check your answer. If your answer is letter A. Okay, kung letter A po ang sagot po ninyo, you are correct. Then, let's have po number 4. Okay? Okay.
Black. recognized by adding merchandise inventory beginning and net purchases Ano po ibig sabihin kayo na blank is recognized by adding merchandise inventory and beginning of net purchases? What do you think is the answer? What is the answer?
Tignan natin kung ang answer po ninyo ay letter. Tignan ko nga para may masamamang sagot. Ayun, number 4. From Hayasitli, Abo. Ang sabi niya po, ang answer ay letter C.
Total goods available for sale. Thank you, Ms. Hayasin. Okay, let's have number five.
Last na to. Gross profit less po natin, blank, is equals to net income or net loss. Gross profit less, ayan.
Ano po kayong sagot? Okay, so number five po tayo. We have letter F, operating expenses. Tama po yung mga sagot po ninyo dyan.
Check po kayong lahat. So you got five over five. So let's have na po yun.
Let us practice more. Ito na po. Kailangan po mag-practice tayo.
Kung natatanda, sa mga CPA board exam po, sa mga review po, kaya po isa sa pinakamahirap po yung, pinakamahirap po kasi yung hindi mo alam yung given. O iba yung in-expect mo sa ibinigay sa'yo. Yan ang mga nagiging problema sa mga CPA board exam.
So, dito po, tatry natin kung kayang-kaya niya rin bang maging certified public accountant. Meron po kaming tinatawag po na Tia Works Back. Okay?
Tandaan nyo po yan ah. Ang mga CPA example is more on PIA works back. Ibig sabihin po, we don't do it po in the manner po na akala po natin, ah dapat ganito, ito muna i-recognize natin. Hindi po. Minsan pa-ilalim kami doon, dumano, nag-compute para makuha namin yung pinaka-answer.
So gagawin natin ngayon yan. Let's enjoy this one. So let's have first... Fill in the blanks of an appropriate amount to prepare the statement of comprehensive income for VIN Sarisari Store. So number one po, yan, baka ano po, bigyan ko kayo ng konting, ano, this will be our last, our last activity.
Kaya makakakain na po tayo. Okay, samahan niyo po ako na answeran po natin to, no. Number one, let's compute for the cost of goods sold. Tignan nga po.
So, number one, cost of goods sold, is there an answer? As we prepare our statement of comprehensive income, tandaan po natin, PIA works back. So, we have to work back.
Enable for us to get all the answer in this activity. Okay, number one. Ano po ang kailangan natin hanapin po? Paano po natin makukumpute ang ating cost of goods sold?
Okay? According to Ms. Maria Aiza, ang answer niya ay 70,000. Let's see if Aiza got the correct answer, no?
Okay, it's 70,000. Paano natin yung nagawa? So, we have to consider po sa cost of goods sold po yung... Total goods available for sale, less po natin yung ating merchandise inventory.
So that is 110,000. So 70,000 po ang ating cost of goods. Okay? So we have to work back po, hindi po tayo ano ha, baka po na. Paano na puha yun?
Babalik lang po kayo, parang katulad lang po yan ang accounting equation. Diba? Kapag nag-change po tayo ng position, pag hindi given yung isang, hindi given yung isang, Yung isang ano po sa equation natin, for example, the liability, nagpipalit po yun diba ng sign.
So, ganun po yung nangyayari pag nag-work back po tayo. Then, number two, let's have compute for merchandise beginning. Paano natin malalaman ang merchandise beginning from the given figures sa ating statement of comprehensive income? How much is the merchandise beginning? Okay, ano kaya po ang answer sa number 2?
Okay, tignan natin. Let's reveal the answer. The answer for number 2 is 30,000.
Para pumalaman po natin yung total amount ng merchandise beginning, anong ginawa po natin? Yung total goods available for sale at saka po yung total net purchases po ay dinidak po natin yung... Total net purchases dun sa ating total goods available for sale. So total goods available for sale less total net purchases. Okay?
Next po, let's have now number three. Paano natin i-cocompute ang net sales? Given na po dyan yung ating ano. Paano po natin i-cocompute ang ating net sales?
Okay? Meron po kaya? Yan, 30,000.
Marami pong nakakuha. Si Melody Linawa de Vergara also got the correct answer sa number 2. Now, number 3 naman tayo. How will you compute for the debt sales? Sabi ni Christy Hunsay Sampaga.
Okay? Ang sagot daw po niya ay 120,000. Paano kaya niya nakuha yung sagot niya na yun, no?
So, let's see kung tama po ang kanyang answer. It's 120,000. And how do we get that?
Okay, consider po na i-recognize po natin ang ating total gross profit. Okay? And then po i-add din po natin ang ating cost of goods sold. Okay?
We will get, of course, 120,000 po. Okay, kasi ang hinahanap naman po kasi is the net sales. Okay, yung total ng net sales po natin. Okay, next.
Last but definitely not the least because we want to know if Vinsari Sari Store able to gain profit. Okay, number four. Okay, ano kayang sagot?
Paano natin i-compute yung net income? nakamadali eh. Hindi nakamadali to.
Alam ko na, ayan. Sana po, nag-i-enjoy pa po kayo dyan habang nagpo-compute-compute po tayo. Ganun po tayo. Napakadali lang po ng accounting.
Ano lang po tayo, add and subtraction lang po ang gagamitin dito. Bibihira po yung mga sobrang mga kwadrat, kwadrat, cosine, tangent. Wala pong ganun siya. Kaya po, kailangan lang talaga natin siyang i-enjoy. Okay?
at pag-aralang mabuti. So, and for the net income, how much is the net income? Okay, anong gagawin natin? Ililest lang po natin ang ating gross profit.
From our gross profit, yung ating operating expense. Kaya po, nagkaroon tayo ng sagot na 40,000. So, gross profit, less operating expense, we got an answer, the total net income of Vince, sorry, sorry store.
is 40,000. Okay? So, okay ba?
Nakuha ba natin yung ating sagot? Now you were able to come up with a prepared Binsari-Saris statement of comprehensive income for the year ended December 31, 2020. Yan. So, yan. Maraming marami kong salamat. At kay Director Vin po for directing this Itulay episode for today.
Maraming marami pong salamat sa pagbibigay po ninyo ng oras. Gusto ko pong batiin din po pala bago din po matapos. Yung aking mga ka-co-teacher sa Maykawayan National High School at ang aking mga EPS na mga kaibigan po dyan sa SDO Maykawayan.
Marami pong, I hope po na napanood po nyo itong episode na to. Gusto ko pong pasalamatan po si Ma'am Carol for being with me po all throughout po ng processing po nitong lesson po for today. Ang aking mentor, ang pinakamamahal kong mentor. At si Ma'am Nell Rose din po, maraming salamat po sa opportunity.
Nanong-nanong na po sa DepEd family, isa po itong malaking opportunity for us to share our skills and our knowledge and it will always be a good feeling po na... we were able to give what we have in our hearts po. Maraming marami pong salamat. God bless you all. Thank you and goodbye!