Gabriela Ysabelle P. Tangso St.

Benedict of Nursia
GYT Corporation
Statement of Financial Position
Summary of Accounts as of the year December 31, 2021

Current assets
Cash and cash equivalents ₱ 2,500,000
Trading securities 1,000,000
Trade and other receivables 3,000,000
Inventories 2,600,000
Prepaid expenses 50,000
Total current assets ₱ 9,150,000
Non-current assets
Property, plant and equipment ₱ 12,000,000
Long-term investment 6,000,000
Intangible assets 3,000,000
Other non-current assets 500,000
Total non-current assets ₱ 21,000,000
Total assets ₱ 30,650,000

Note 1 - Cash and cash equivalents:

Cash on hand 80,000
Cash in bank 2,400,000
Petty cash fund 20,000
Total cash equivalents 2,500,000
Note 2 - Trade and other receivables:
Accounts receivable 2,260,000
Allowance for doubtful accounts 100,000
Notes receivable 800,000
Accrued interest on notes receivable 40,000
Total trade and other receivables 3,000,000
Note 3 - Prepaid expenses:
Unused office supplies 30,000
Prepaid rent 20,000
Total prepaid expenses 50,000
Note 4 - Property, Plant and Equipment:
Acquisition Accumulated Book
Cost Depreciation Value
Land 9,500,000 9,500,000
Building 8,000,000 3,200,000 4,800,000
Office equipment 1,000,000 500,000 500,000
Total 18,500,000 6,500,000 12,000,000
Note 5 - Long-term investment:
Sinking fund 2,000,000
Building expansion fund 2,500,000
Investment in bonds 1,500,000
Total long-term investments 6,000,000
Note 6 - Intangible Assets:
Computer software 1,300,000
Goodwill 1,700,000
Total intangible assets 3,000,000
Note 7 - Other non-current assets:
Long term advances to officers 400,000
Long-term refundable deposits 100,000
Total 500,000