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    Ms

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    fanyeojachingu

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    Ms

    Uploaded by

    fanyeojachingu
    12 views1 page

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    Copyright:

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    Download as docx, pdf, or txt
    12 views1 page

    Ms

    Uploaded by

    fanyeojachingu

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Ms.

    CPA Buy and Sell Services Business


    Statement of Financial Position
    As of December 31 2018

    ASSETS
    Current Assets
    Cash ₱786,500.00
    Accounts Receivable 70,000.00
    Allowance for Doubtful Accounts (10,000.00)
    Notes Receivable 200,000.00
    Supplies 10,000.00
    Inventory 190,000.00
    Prepaid Insurance 22,000.00
    Total Current Assets 1,268,500.00
    Non Current Assets
    Land 200,000.00
    Building 700,000.00
    Accumulated Depreciation – Building (140,000.00)
    Equipment 250,000.00
    Accumulated Depreciation – Equipment (50,000.00)
    Furniture and Fixtures (150,000.00)
    Accumulated Depreciation – Furniture and Fixtures (30,000.00)
    Delivery Vehicle 400,000.00
    Accumulated Depreciation – Delivery Vehicle (80,000.00)
    Machinery 120,000.00
    Accumulated Depreciation – Machinery (12,000.00)
    Total Non Current Assets 1,508,000.00
    Total Assets ₱2,776,500.00

    LIABILITIES AND OWNER’S EQUITY


    Current Liabilities
    Accounts Payable ₱100,000.00
    Notes Payable 50,000.00
    Loans Payable 500,000.00
    Interest Payable 10,000.00
    Salaries Payable 75,000.00
    Unearned Revenues 60,000.00
    Total Current Liabilities 795,000.00
    Equity
    Owner’s Equity 1,981,500.00
    TOTAL LIABILITIES AND OWNER’S EQUITY ₱2,776,500.00

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