ABC Accounting Services

Balance Sheet
As of December 31, 20XX

ASSETS
Cash ₱ 5,000,000.00
Accounts Receivable 1,000,000.00
Equipment 2,500,000.00
TOTAL ASSETS ₱ 8,500,000.00

LIABILITIES
Accounts Payable 1,750,000.00
Bank Loan 3,000,000.00
TOTAL LIABILITIES 4,750,000.00

EQUITY
Common Stock 2,450,000.00
Preferred Stock 1,300,000.00
TOTAL EQUITY 3,750,000.00
TOTAL LIABILITY AND EQUITY ₱ 8,500,000.00