A. Morning CO. B.

NOTE 6: CASH AND CASH EQUIVALENTS

Statement of Financial Position Cash on Hand 60,000
As of December 31, 2021 Cash in Bank 1,000,000
Total Cash and Cash Equivalents 1,060,000
ASSETS
Current Assets: NOTE 7: TRADE AND OTHER RECEIVABLES
6 Cash and Cash Equivalents ₱ 1,060,000 Accounts Receivable 2,000,000
7 Trade and other Receivables 1,770,000 Allowance for Doubtful Accounts -300,000
Inventories 1,200,000 Advances to Employees 40,000
Held for Trading Securitiess 800,000 Advances to Supliers 30,000
Total Current Assets 4,830,000 Total Trade and other Receivables 1,770,000

Noncurrent Assets: NOTE 8: PROPERTY PLANT AND EQUIPMENT

Investment in FVOCI Securities 300,000 Land 2,200,000
Investment Property 900,000 Building 3,400,000
8 Property, Plant, and Equipment 4,900,000 Accumulated Depreciation-Building -700,000
Total Noncurrent Assets 6,100,000 Total Property Plant and Equipment 4,900,000

TOTAL ASSETS ₱ 10,930,000 NOTE 9: TRADE AND OTHER PAYABLES

Accounts Payable 720,000
LIABILITIES AND EQUITY Accrued Liabilities 80,000
Current Liabilities: Interest Payable 340,000
9 Trade and Other Payables ₱ 1,140,000 Total Trade and other Payables 1,140,000
Income Tax Payable 500,000
Provisions for Probable Loss on Lawsuit 430,000 NOTE 10: LOANS PAYABLE-NET
Total Current Liabilities 2,070,000 Loans Payable 3,000,000
Discount on Loan Payable -740,000
Noncurrent Liabilities: Total Loans Payable-net 2,260,000
10 Loan Payable-net 2,260,000
Deferred Tax Liability 300,000 NOTE 11: OTHER COMPONENTS OF EQUITY
Total Noncurrent Liabilities 2,560,000 Revaluation Surplus 90,000
Translation Loss on Foreign Operation -30,000
TOTAL LIABILITIES 4,630,000 Total Other Components of Equity 60,000

Equity:
Ordinary Share Capital 4,000,000
Share Premium 600,000
Retained Earnings 1,640,000
11 Other Components of Equity 60,000
TOTAL EQUITY 6,300,000

TOTAL LIABILITIES AND EQUITY ₱ 10,930,000