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    Cindy Lota - Activity No. 3 - Statement of Financial Position

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    Cindy Lota
    The statement of financial position of Alpha Trading shows total assets of $29,875,000 consisting of current assets of $14,375,000 and non-current assets of $15,500,000. Total liabilities are $9,000,000 made up of current liabilities of $4,500,000 and non-current liabilities of $4,500,000. Owner's equity is $20,875,000. Notes to the statement provide details of cash and cash equivalents, inventories, property, plant and equipment, intangible assets, and long term debt.

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    Cindy Lota - Activity No. 3 - Statement of Financial Position

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    Cindy Lota
    170 views6 pages
    The statement of financial position of Alpha Trading shows total assets of $29,875,000 consisting of current assets of $14,375,000 and non-current assets of $15,500,000. Total liabilities are $9,000,000 made up of current liabilities of $4,500,000 and non-current liabilities of $4,500,000. Owner's equity is $20,875,000. Notes to the statement provide details of cash and cash equivalents, inventories, property, plant and equipment, intangible assets, and long term debt.

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    The statement of financial position of Alpha Trading shows total assets of $29,875,000 consisting of current assets of $14,375,000 and non-current assets of $15,500,000. Total liabilities are $9,000,000 made up of current liabilities of $4,500,000 and non-current liabilities of $4,500,000. Owner's equity is $20,875,000. Notes to the statement provide details of cash and cash equivalents, inventories, property, plant and equipment, intangible assets, and long term debt.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    170 views6 pages

    Cindy Lota - Activity No. 3 - Statement of Financial Position

    Uploaded by

    Cindy Lota
    The statement of financial position of Alpha Trading shows total assets of $29,875,000 consisting of current assets of $14,375,000 and non-current assets of $15,500,000. Total liabilities are $9,000,000 made up of current liabilities of $4,500,000 and non-current liabilities of $4,500,000. Owner's equity is $20,875,000. Notes to the statement provide details of cash and cash equivalents, inventories, property, plant and equipment, intangible assets, and long term debt.

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    Activity No.

    3 - Statement of Financial Position


    Direction/s: Prepare the Statement of Financial Position with supporting notes accordingly.

    1. How much is the total cash and cash equivalents? P 10,175,000


    2. How much is the total inventory? P 2,000,000
    3-4. How much is the total property, plant and equipment? P 3,700,000
    5-6. How much is the total intangible assets? P 1,800,000
    How much is the total current asset of the entity? P 14,375,000
    7-8. How much is the total non-current asset of the entity? P 15,500,000
    How much is the total current liability of the entity? P 4,500,000
    9-10. How much is the total non-current liability of the entity? P 4,500,000
    How much is the total asset of the entity? P 29,875,000

    Alpha Trading
    Below are the accounts for the Year ended December 31, 2016
    Land used as plant site 1,000,000
    Accumulated depreciation - Vehicle -200,000
    Accounts Payable 2,000,000
    Patents 1,000,000
    Cash in Banco de Uno 8,000,000
    Finished Goods 1,000,000
    Notes Payable 1,000,000
    Cash in Metro de Dos 2,000,000
    Notes Receivables 200,000
    Vehicles 2,000,000
    Accumulated depreciation - Patent -100,000
    Land Held for Fair Value Appreciation 10,000,000
    Long-Term Debt 5,000,000
    porting notes accordingly.

    ents? P 10,175,000
    0
    quipment? P 3,700,000
    1,800,000
    ntity? P 14,375,000
    he entity? P 15,500,000
    entity? P 4,500,000
    of the entity? P 4,500,000
    29,875,000

    mber 31, 2016


    Interest Payable 100,000
    Capital 20,875,000
    Change Cash Fund 25,000
    Income Tax Payable 900,000
    Work in Progress 400,000
    Trademarks 1,000,000
    Accumulated depreciation - Fixtures -100,000
    Cash Equivalents 100,000
    Accumulated depreciation - Trademark -100,000
    Petty Cash Fund 50,000
    Fixtures 1,000,000
    Raw Materials 600,000
    Accounts Receivables 2,000,000
    Note 1 Composition of Cash and Cash Equivalents
    Cash in Banco de Uno P 8,000,000
    Cash in Metro de Dos 2,000,000
    Petty Cash Fund 50,000
    Change Cash Fund 25,000
    Cash Equivalents 100,000
    Total Cash and Cash Equivalents P 10,175,000

    STATEMENT OF FINANCIAL POSITON WITH SUPPORTING


    NOTES

    Cash in Banco de Uno 8,000,000


    Cash in Metro de Dos 2,000,000
    Petty Cash Fund 50,000
    Change Cash Fund 25,000
    Cash Equivalents 100,000
    Accounts Receivables 2,000,000
    Notes Receivables 200,000
    Raw Materials 600,000
    Work in Progress 400,000
    Finished Goods 1,000,000
    Land used as plant site 1,000,000
    Vehicles 2,000,000
    Accumulated depreciation- Vehicle -200,000
    Fixtures 1,000,000
    Accumulated depreciation- Fixtures -100,000
    Patents 1,000,000
    Accumulated depreciation- Patent -100,000
    Trademarks 1,000,000
    Accumulated depreciation- Trademark -100,000
    Land Held for Fair Value Appreciation 10,000,000
    Accounts Payable 2,000,000
    Notes Payable 1,000,000
    Interest Payable 100,000
    Income Tax Payable 900,000
    Long-Term Debt 5,000,000
    Capital 20,875,000
    NOTE 2 COMPOSITION OF INVENTORIES
    Raw Materials P 600,000
    Work in Progress 400,000
    Finished Goods 1,000,000
    TOTAL INVENTORIES P 2,000,000

    ALPHA TRADING STATEMENT OF


    FINANCIAL POSITION DECEMBER 31, 2015

    ASSETS
    Current Assets
    Cash and Cash Equivalent Note 1 P 10,175,000
    Notes Receivables 200,000
    Accounts Receivables 2,000,000
    Inventories Note 2 2,000,000
    Total Current Assets P 14,375,000
    Non-Current Assets
    Property, Plants and Equipment Note 3 3,700,000
    Investment Property 10,000,000
    Intangible Assets Note 4 1,800,000
    Total Non-Current Assets P 15,500,000
    Total Assets P 29,875,000
    LIABILITIES AD EQUITY
    Current Liabilities
    Accounts Payable P 2,000,000
    Notes Payable 1,000,000
    Current Portion of Long-Term Debt Note 5 500,000
    Income Tax Payable 900,000
    Interest Payable 100,000
    Total Current Liabilities P 4,500,000
    Non-Current Liabilities
    Long-Term Debt Note 5 P 4,500,000
    OWNER'S EQUITY
    Alpha Capital P 20,875,000
    TOTAL LIABILITIES AND EQUITY P 29,875,000
    NOTE 3 COMPOSITION OF PPE
    land Building and plant
    Cost 1,000,000 2,000,000
    Accumulated Depreciation -------------- -200,000
    Carrying value 1,000,000 1,800,000

    NOTE 4 INTANGIBLE ASSETS


    PATENTS TRADEMARKS
    Cost 1,000,000 1,000,000
    Accumulated Depreciation -100,000 -100,000
    CARRYING VALUE 900,000 900,000

    NOTE 5 LONG TERM DEBT SCHEDULE


    Long-term Debt
    Current portion 500,000
    Non-Current portion 5,000,000
    TOTAL 4,500,000
    OF PPE
    Fixtures Total
    1,000,000 4,000,000
    -100,000 300,000
    900,000 3,700,000

    TOTAL
    2,000,000
    -200,000
    1,800,000

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