BERNALDEZ,JEFFERSONM.
BSA1
B
1
81
Gar
deni
aCompanyr
epor
t
edt
hef
ol
l
owi
ngasset
si
nt
hest
at
ementoff
i
nanci
al
posi
t
i
on:
Cashi
nbank
P2,
000,
000
Account
sr
ecei
vabl
e.
4,
000,
000
I
nvent
or
y.
1
,
500,
000
Fi
nanci
al
assetatf
ai
rval
ue.
500,
000
Pat
ent
.
1
,
000,
000
Loanst
oempl
oyees.
200,
000
Advancest
osuppl
i
er
s
.
400,
000
Pr
epai
dexpenses.
1
00,
000
I
npr
epar
i
ngf
i
nanci
al
st
at
ement
si
nahyper
i
nf
l
at
i
onar
yeconomy,whatt
ot
al
amountshoul
d
becl
assi
f
i
edasmonet
ar
yasset
s
?
A.6,
200,
000
B.6,
600,
000
C.6,
700,
000
D.7,
700,
000
Answer
:A.P6,
200,
000
Cash.
2,
000,
000
Account
sr
ecei
vabl
e.4,
000,
000
Loanst
oempl
oyees. 200,
000
Tot
al
Monet
ar
yAsset
s.P6,
200,
000
1
83
Dahl
i
aCompanywasf
or
medonJanuar
y1
,
201
2.Sel
ect
edbal
ancesf
r
om hi
st
or
i
cal
cost
st
at
ementoff
i
nanci
al
posi
t
i
ononDecember31
,
201
8wer
e:
Landpur
chasedonJanuar
y1
,201
2
I
nvest
mentonl
ongt
er
m bondspur
chasedonJanuar
y1
,
201
5
Longt
er
m debti
ssuedonJanuar
y1
,
201
2.
P2,
400,
000
1
,
200,
000
1
,
600,
000
Thegener
al
pr
i
cei
ndexwas1
20onJanuar
y1
,
201
2,1
50onJanuar
y1
,
201
5,and300on
December31
,
201
8.
1
. Whatamountshoul
dber
epor
t
edi
nhyper
i
nf
l
at
i
onar
yst
at
ementoff
i
nanci
al
posi
t
i
on
f
orl
and?
A.P2,
400,
000
B.P6,
000,
000
C.P4,
800,
000
D.P3,
000,
000
Ans
wer
:B.P6,
000,
000
300/
1
20=2.
5x2,
400,
000=P6,
000,
000
2.Whatamountshoul
dber
epor
t
edi
nhyper
i
nf
l
at
i
onar
yst
at
ementoff
i
nanci
al
posi
t
i
on
f
ori
nvest
menti
nbonds
?
A.P3,
000,
000
B.P2,
400,
000
C.P1
,
200,
000
D.P1
,
500,
000
Answer
:C.P1
,
200,
000
Noneedr
est
at
ementbecausei
nvest
menti
nbondsi
samonet
ar
yi
t
em.
3.Whatamountshoul
dber
epor
t
edi
nhyper
i
nf
l
at
i
onar
yst
at
ementoff
i
nanci
al
posi
t
i
on
f
orl
ongt
er
m debt
?
A.P4,
000,
000
B.P3,
200,
000
C.P2,
000,
000
D.P1
,
600,
000
Answer
:D.P1
,
600,
000
Noneedr
est
at
ementbecausel
ongt
er
m debti
samonet
ar
yi
t
em.