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Statement of Financial Position
Statement of Financial Position
Assets
Current Assets:
Cash ₱ 100,000.00
Accounts Receivable ₱ 500,000.00
Less: Allowance for Doubtful Accounts (50,000.00) 450,000.00
Accrued Income 300,000.00
Inventory 200,000.00
Prepaid Expense 50,000.00
Total Current Assets ₱ 1,100,000.00
Noncurrent Assets:
Long Term Investments ₱ 1,250,000.00
Intangible Assets 500,000.00
Property, Plant, & Equipment Cost ₱ 1,000,000.00
Less: Accumulated Depreciation (300,000.00) 700,000.00
Total Noncurrent Assets 2,450,000.00
Total Assets ₱ 3,550,000.00
Liabilities
Current Liabilities:
Accounts Payable ₱ 250,000.00
Accrued Expenses 100,000.00
Unearned Income 80,000.00
Notes Payable 150,000.00
Total Current Liabilities ₱ 580,000.00
Noncurrent Liabilities:
Mortgage Payable ₱ 1,500,000.00
Loans Payable 1,000,000.00
Total Noncurrent Liabilities 2,500,000.00
Capital
Owner’s Equity 470,000.00
Total Liabilities and Owner’s Equity ₱ 3,550,000.00
Report Form:
Account Format: