Assets Note

Current Assets
Cash 5
Investment in Trading Securities
Trades and Other Receivables 6
Merchandise Inventory
Prepaid Expense 7
Total Current Assets
Non-Current Assets
Property, Plant, and Equipment 8
Total Assets

Notes to Balance Sheet

Note 5 - Cash
Cash on Hand ₱ 200,000.00
Cash in Bank 250,000.00
Total ₱ 450,000.00

Note 6 - Trades and Other Receivables

Accounts Receivable ₱ 65,000.00
Less: Allowance for Bad Debts 5,000.00 ₱ 60,000.00
Notes Receivable 15,000.00
Interest Receivable 10,000.00
Advances to Employees 10,000.00
Accrued Income 5,000.00
Total ₱ 100,000.00

Note 7 - Prepaid Expenses

Supplies ₱ 25,000.00
Prepaid Insurance 70,000.00
Total ₱ 95,000.00

Note 8 - PPE
Land ₱ 180,000.00
Building ###
Less: Accumulated Depreciation 20,000.00 480,000.00
Equipment ₱ 50,000.00
Less: Accumulated Depreciation 20,000.00 30,000.00
Furniture & Fixtures 10,000.00
Total ₱ 700,000.00
₱ 450,000.00
75,000.00
100,000.00
90,000.00
95,000.00
₱ 810,000.00

700,000.00
₱ 1,510,000.00
 Liabilities & Owner's Equity
Current Liabilities
Trade and Other Payables 9 ₱ 430,000.00
Non-Current Liabilities
Mortgage Payable ₱ 300,000.00
Loan Payable 100,000.00
Total Non-Current Liabilities 400,000.00
Total Liabilities ₱ 830,000.00
Owner's Equity
Ren, Capital 680000
Total Liabilities & Capital ₱ 1,510,000.00

Notes to Balance Sheet

Note 9 - Trade and Other Payables
Accounts Payable ₱ 250,000.00
Notes Payable 120,000.00
Accrued Expenses 60,000.00
Total ₱ 430,000.00
 Ren Ren Merchandising
Statement of Changes in Owner's Equity
For the Year Ended December 31, 2016

Ren, Capital, Beginning ₱ 280,000.00

Add: Additional Investment ₱ 22,200.00
Net Income 407,800.00 430,000.00
Total ₱ 710,000.00
Less: Drawings 30,000.00
Ren, Capital, End ₱ 680,000.00
 Ren Ren Merchandising
Statement of Financial Position
As of December 31, 2016

Assets Note
Current Assets
Cash 5 ₱ 450,000.00
Investment in Trading Securities 75,000.00
Trades and Other Receivables 6 100,000.00
Merchandise Inventory 90,000.00
Prepaid Expense 7 95,000.00
Total Current Assets ₱ 810,000.00
Non-Current Assets
Property, Plant, and Equipment 8 700,000.00
Total Assets ₱ 1,510,000.00
 Ren Ren Merchandising
Statement of Financial Position
As of December 31, 2016

Liabilities & Owner's Equity Note

Current Liabilities
Trade and Other Payables 9 ₱ 430,000.00
Non-Current Liabilities
Mortgage Payable ₱ 300,000.00
Loan Payable 100,000.00
Total Non-Current Liabilities 400,000.00
Total Liabilities ₱ 830,000.00
Owner's Equity
Ren, Capital 680,000.00
Total Liabilities & Capital ₱ 1,510,000.00
 Ren Ren Merchandising
Statement of Financial Position
As of December 31, 2016

Assets Note
Current Assets
Cash 5
Investment in Trading Securities
Trades and 6
Merchandise Inventory
Prepaid Ex 7
Total Current Assets
Non-Current Assets
Property, 8
Total Assets

Liabilities & Owner's Equity

Current Liabilities
Trade and 9
Non-Current Liabilities
Mortgage Payable ₱ 300,000.00
Loan Payable 100,000.00
Total Non-Current Liabilities
Total Liabilities
Owner's Equity
Ren, Capital
Total Liabilities & Capital
₱ 450,000.00
75,000.00
100,000.00
90,000.00
95,000.00
₱ 810,000.00

700,000.00
₱ 1,510,000.00

₱ 430,000.00

400,000.00
₱ 830,000.00

680000
₱ 1,510,000.00