SAMPLE STATEMENT OF FINANCIAL POSITION OF A SINGLE PROPRIETORSHIP MERCHANDISING BUSINESS (ACCOUNT FORM):

SODAMI TRADING
Balance Sheet
December 31, 2022

ASSETS LIABILITIES AND OWNER'S EQUITY

Current Liabilities
Cash on Hand P 11,500 Accounts Payable P 10,000
Accounts Receivables P 23,500 Notes Payable 20,000
Less: Allowance for Bad debts 1,175 22,325 Salaries Payable 2,000
Merchandise Inventory 55,200 Accrued Taxes 980
Office Supplies Inventory 200 Rent Payable 5,000
Store Supplies Inventory 400 Interest Payable 3,300 P 41,280
Prepaid Insurance 900
Non-current Capital
Store Equipment 4,800 Morales, Capital 40,000
Less: Accumulated Depreciation 400 4,400 Add: Net Income 13,645 53,645
TOTAL ASSETS P 94,925 TOTAL LIABILITIES AND CAPITAL P 94,925