In: Accounting
Accounts payable-trade .......4,350,00
Accounts receivable-trade ......3,100,00
Bank loan, short-term borrowings..... 1,500,000
Processing formulas ......300,000
Land held for speculation...... 2,500,000
Land ......5,000,000
Change fund .....30,000
Prepaid advertising ......80,000
Unused office supplies .......20,000
Notes payable-trade ......2,500,000
Notes receivable ........1,000,000
Copyright ........300,000
Tools...... 100,000
Building...... 8,000,000
Machinery...... 5,000,000
Office furniture...... 1,800,000
Computer software ......500,000
Bonds payable .......5,000,000
Time deposit due december 31, 2023...... 5,000,000
Premium on bonds payable..... 500,000
Cash in PNB#001 .......2,300,000
Cash in PNB#002 .......(150,000)
Jenny, capital..... 17,880,000
Accumulates depreciation, building....... 2,000,000
Accumulates depreciation, machinery...... 1,500,000
Accumulates depreciation, office furniture ......800,000
Jenny, drawing..... 2,800,000
Allowance for doubtful accounts ......300,000
Raw materials ........500,000
Accrued expenses ......250,000
Goods in process ......600,000
Accrued interest on notes receivable ......50,000
Cash on hand for deposit ......700,000
Investment in associate ........1,000,000
Mortgage payable in semi-annual installments of P500,000 ...... 4,000,000
SSS payable........ 200,000
Withholding tax payable .........150,000
Finished goods........ 1,000,000
Statement of Financial Position
Statement of financial position | ||
As on 31st December, 20XX | ||
Assets | Amount $ | Amount $ |
Current Assets | ||
Cash in PNB#001 | 2300000 | |
Cash in PNB#002 | -150000 | 2150000 |
Change funds | 30000 | |
cash on hand for deposits | 700000 | |
Accounts receivable- trade | 3100000 | |
Allowance for doubtful accounts | -300000 | 2800000 |
Notes Receivable | 1000000 | |
Land held for speculation | 2500000 | |
Claim receivable | ||
Trading Securities | ||
Prepaid Advertising | 80000 | |
Unused office supplies | 20000 | |
Factory Supplies | ||
Tools | 100000 | |
Inventories | ||
Finished Goods | 1000000 | |
Goods in process | 600000 | |
Raw Materials | 500000 | 2100000 |
Current Assets | 11480000 | |
Non Current Assets | ||
Long Term Investments | ||
Time deposit | ||
Investment in associate | 5000000 | |
Investment in Bonds | 1000000 | |
Long Term Investments | 6000000 | |
Plant, Property & Equipment | ||
Land | 5000000 | |
Building | 8000000 | |
Accumulated depreciation– Building | -2000000 | 6000000 |
Machinery | 5000000 | |
Accumulated depreciation– Machinery | -1500000 | 3500000 |
office furniture | 1800000 | |
Accumulated depreciation– furniture | -800000 | 1000000 |
Plant, Property & Equipment | 15500000 | |
Intangible Assets | ||
Copyright | 300000 | |
Computer software | 500000 | |
Processing formulas | 300000 | |
Franchise | ||
Goodwill | ||
Intangible Assets | 1100000 | |
Other Assets | ||
Plant expansion fund | 0 | |
Other Assets | ||
Total Assets | 34080000 | |
Liabilities & Stockholder's Equity | ||
Liabilities | ||
Current Liabilities | ||
Accounts payable - trade | 4350000 | |
Notes payable- trade | 2500000 | |
Advances from customers | ||
Accrued interest on note payable | 50000 | |
SSS payable | 200000 | |
Withholding tax payable | 150000 | |
Income tax payable | ||
Accrued expenses | 250000 | |
Employees income tax payable | ||
Bank loan - S T borrowings | 1500000 | |
Current portion of Serial bonds payable | ||
Current Liabilities | 9000000 | |
Non Current Liabilities | ||
Bonds Payable | 5000000 | |
Motgage payable | 4000000 | |
Non Current portion of Serial bonds payable | ||
Notes payable | ||
Non Current Liabilities | 9000000 | |
Total Liabilities | 18000000 | |
Stockholder's Equity | ||
Jenny capital | 17880000 | |
Drawings | -2800000 | |
Share capital | ||
Premium on bonds payable | 500000 | |
Share premium | ||
Retained Earnings | ||
Total Stockholder's Equity | 15580000 | |
Total Liabilities & Stockholder's Equity | 33580000 | |
Difference | -500000 |
I have posted all correctly , still there is a difference , may be data is missing !!