Summa Company

Statement of Financial Position

Dec. 31, 2022

Assets
Current Assets Note
Cash (1)
Bond Sinking Fund
Trade and other receivables (2)
Inventory
Prepaid Expenses
Total Current Assets

Non Current Assets

Property, Plant and Equipment (3)
Investment Property
Intangible Asset (4)
Total Non Current Assets
Total Assets

Liabilities and Shareholders' Equity

Liabilities
Current Liabilities
Trade and other payables (5)
Bonds Payable due June 30, 2022
Total Current Liabilities

Non Current Liabilities

Deferred Tax Liability
Total Liabilities

Shareholders' Equity
Share capital, P100 par
Share Premium
Retained Earnings
Total Equity
Total Liabilities and Equity
 700,000.00
2,000,000.00
830,000.00
1,200,000.00
100,000.00
4,830,000.00

5,500,000.00
700,000.00
370,000.00
6,570,000.00
11,400,000.00

2,050,000.00
2,000,000.00
4,050,000.00

650,000.00
4,700,000.00

3,500,000.00
300,000.00
2,900,000.00
6,700,000.00
11,400,000.00
Note 1 - Cash
Cash on hand 50,000.00
Cash in bank 650,000.00
Total Cash 700,000.00

Note 2 - Trade and other receivables

Accounts Receivable 650,000.00
Allowance for Doubtful Accounts 50,000.00
Notes Receivable 200,000.00
Accrued Interest Receivable 30,000.00
Total trade and other receivables 830,000.00

Note 3 - Property Plant and Equipment

Cost Accumulated Depr. Book Value

Land 1,000,000.00 - 1,000,000.00

Building 5,500,000.00 2,500,000.00 3,000,000.00
Furniture and Equipment 2,400,000.00 900,000.00 1,500,000.00
Total property, plant and equipment 8,900,000.00 3,400,000.00 5,500,000.00

Note 4 - Intangible Assets

Patent 370,000.00

Note 5 - Trade and other payables

Accounts Payable 1,000,000.00
Notes Payable 850,000.00
Accrued Taxes Payable 50,000.00
Other accrued liabilities 150,000.00
Total trade and other payables 2,050,000.00