Direction : Use the data of FLORA AND FAUNA GARDEN below to answer what is being asked. Use the format in the computation. Flora, owner of FLORA AND FAUNA GARDEN, started the business during the Covid-19 pandemic that forced many of us to be confined into our homes. Since planting and gardening became popular in this time, she decided to put up a business that will help her family and bring joy to many plantitos and plantitas in her community. She occupied a small space in her friend's store and paid an amount of P4,000 as her rent for the first month of her operation. She spent P7,000 for taxes and licenses and P2,000 for tarpaulins, flyers and other materials for promotion of her business. She gets her supply once a week from a local dealer in the nearby city by paying P300.00 per delivery. Below is the cost per variety of her plants. She added 50 percent mark-up. 1. Begonia 2. Vietnam Rose P200.00 6. Caladium P250.00 100.00 7. Roses 150.00 3. Pothos 150.00 8. Coleus 100.00 9. Herbal Plants 150.00 10. Gumamela 4. Snake Plants 100.00 5. Succulents 150.00 250.00 Out of the 30 plants ( 3 pieces/ variety ) displayed in her store, she was able to sell 20 pieces ( 2 pieces/ variety) during her first month of operation last January 2021. A. Compute for the following: 1. Sales Revenue 2. Cost of Goods Sold 3. Operating Expenses B. Prepare the Income Statement of Flora and Fauna Garden for the month of January

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter2: Enterprise System

Section: Chapter Questions

Problem 5P

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LEARNING TASK 2: ACTIVITY 2
Direction : Use the data of FLORA AND FAUNA GARDEN below to answer what is being asked. Use the
format in the computation.
Flora, owner of FLORA AND FAUNA GARDEN, started the business during the Covid-19 pandemic that
forced many of us to be confined into our homes. Since planting and gardening became popular in this time,
she decided to put up a business that will help her family and bring joy to many plantitos and plantitas in
her community.
She occupied a small space in her friend's store and paid an amount of P4,000 as her rent for the
first month of her operation. She spent P7,000 for taxes and licenses and P2,000 for tarpaulins, flyers and
other materials for promotion of her business.
She gets her supply once a week from a local dealer in the nearby city by paying P300.00 per delivery.
Below is the cost per variety of her plants. She added 50 percent mark-up.
1. Begonia
2. Vietnam Rose
P200.00
6. Caladium
P250.00
7. Roses
8. Coleus
9. Herbal Plants
10. Gumamela
100.00
150.00
3. Pothos
150.00
100.00
4. Snake Plants
100.00
150.00
5. Succulents
150.00
250.00
Out of the 30 plants ( 3 pieces/ variety) displayed in her store, she was able to sell 20 pieces ( 2
pieces/ variety) during her first month of operation last January 2021.
A. Compute for the following :
1. Sales Revenue
2. Cost of Goods Sold
3. Operating Expenses
B. Prepare the Income Statement of Flora and Fauna Garden for the month of January

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