Account number Account name Preliminary

521013 EDP Hardware 5,423,200.80

521014 Transportation Equipment 15,193,716.37
521015 Machinery & Equipment 16,994,527.83
521016 Office Furnitures & Fixtures 559,827.27
521017 Leasehold Improvement 540,595.53
521019 EDP Software 740,449.18
521020 Land 8,243,000.00
521021 Building 15,510,000.00
Total Property & Equipment 63,205,316.98

5210.113 Accumulated Depreciation - EDP Hardware 1,964,875.00

5210.114 Accumulated Depreciation - Transportation Equipment 6,915,103.10
5210.115 Accumulated Depreciation - Machinery & Equipment 7,612,251.75
5210.116 Accumulated Depreciation - Office Furnitures & Fixtures 377,070.58
5210.117 Accumulated Depreciation - Leasehold Improvement 313,745.98
5210.119 Accumulated Depreciation - EDP Software 475,303.53
5210.121 Accumulated Depreciation - Building 2,720,500.00
Total Accumulated Depreciation 20,378,849.93

8410 Gain on Disposal 112,750.29

8411 Loss on Disposal (254,038.47)
Total Gain (Loss) on Disposal (141,288.17)

831013 Depreciation - EDP Hardware 1,033,750.24

831014 Depreciation - Transportation Equipment 2,997,618.66
831015 Depreciation - Machinery & Equipment 2,045,182.04
831016 Depreciation - Office Furnitures & Fixtures 53,414.26
831017 Depreciation - Leasehold Improvement 171,031.84
831019 Depreciation - EDP Software 246,816.39
831021 Depreciation - Building 1,395,600.31
Total Depreciation Expense 7,943,413.74

Issues Noted:

PAJE 1:
Account Number Account Name Debit
0000 Repairs & Maintenance xxx
0000 Accumulated Depreciation - Leasehold Improvement
To correct recorded depreciation expense
AJE 31-Dec-15 31-Dec-14
- 5,423,200.80 4,017,741.95
- 15,193,716.37 12,430,679.12
- 16,994,527.83 17,649,177.72
- 559,827.27 325,898.71
- 540,595.53 437,479.46
- 740,449.18 399,852.48
- 8,243,000.00 5,718,000.00
- 15,510,000.00 11,151,003.12
63,205,316.98 52,129,832.56

- 1,964,875.00 1,124,312.27
- 6,915,103.10 5,602,637.40
- 7,612,251.75 6,868,067.20
- 377,070.58 323,656.33
- 313,745.98 142,714.14
- 475,303.53 228,487.13
- 2,720,500.00 1,877,426.07
20,378,849.93 16,167,300.52

- 112,750.29 -
- (254,038.47) -
- (141,288.17) -

- 1,033,750.24 514,574.67
- 2,997,618.66 1,957,000.00
- 2,045,182.04 1,626,661.58
- 53,414.26 81,474.68
- 171,031.84 120,132.04
- 246,816.39 133,284.16
- 1,395,600.31 875,000.00
7,943,413.74 5,308,127.12

Credit

xxx
PROPERTY AND EQUIPMENT - net

Movements in the carrying amounts of the Company’s property and equipment are as follows:

Office
EDP Transportatio Machinery &
Notes Furniture &
Hardware n Equipment Equipment
Fixtures
Cost
Balance, January 1, 2014 3,654,884 11,955,172 17,673,133 307,163
Restatement
Additions 521,877 759,489 201,817 88,866
Disposals (159,019) (283,982) (225,772) (70,130)
Balance, December 31,
4,017,742 12,430,679 17,649,178 325,899
2014
Additions
Disposals
Balance, December 31,
2015
Accumulated
Depreciation
Balance, January 1, 2014 609,738 3,645,637 5,241,406 242,182
Restatement
Depreciation
25 514,575 1,957,000 1,626,662 81,475
Balance, December 31,
1,124,312 5,602,637 6,868,067 323,656
2014
Depreciation 25
Disposals
Balance, December 31,
2015
Carrying Amounts,
December 31, 2015
Carrying Amounts,
December 31, 2014

In 2015, the Company sold property and equipment amounting to P__________. The sale of property
and equipment resulted in gain and loss of P___________ and P__________, respectively.
Management believes that the recoverable amounts of the Company’s property and equipment exceed
their carrying amounts as at reporting period. Accordingly, no impairment loss was recognized in
2015 and 2014.
ent are as follows:

Leasehold
Land Building EDP Software Total
Improvement

504,161 5,718,000 6,481,311 359,918 46,653,743

110,064 - 5,433,708 110,064 7,225,885

(176,746) - (764,016) (70,130) (1,749,795)
437,479 5,718,000 11,151,003 399,852 52,129,833

22,582 - 1,002,426 95,203 10,859,173

120,132 - 875,000 133,284 5,308,127

142,714 - 1,877,426 228,487 16,167,301

__. The sale of property

pectively.
rty and equipment exceed
oss was recognized in