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    Account Form Abamagaling School Supply Store Statement of Financial Position As of June 30, 2020

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    Henry Balmores Tamayo
    The Abamagaling School Supply Store's statement of financial position as of June 30, 2020 shows total assets of $1,114,500 including current assets of $313,500 such as cash of $40,000 and inventory of $200,000. Total liabilities are $905,000 consisting of current liabilities of $75,000 and non-current liabilities of $830,000 including loans of $30,000 and a mortgage of $800,000. Owner's equity is $209,500.

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    Account Form Abamagaling School Supply Store Statement of Financial Position As of June 30, 2020

    Uploaded by

    Henry Balmores Tamayo
    707 views1 page
    The Abamagaling School Supply Store's statement of financial position as of June 30, 2020 shows total assets of $1,114,500 including current assets of $313,500 such as cash of $40,000 and inventory of $200,000. Total liabilities are $905,000 consisting of current liabilities of $75,000 and non-current liabilities of $830,000 including loans of $30,000 and a mortgage of $800,000. Owner's equity is $209,500.

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    ACCOUNT FORM FABM2

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    The Abamagaling School Supply Store's statement of financial position as of June 30, 2020 shows total assets of $1,114,500 including current assets of $313,500 such as cash of $40,000 and inventory of $200,000. Total liabilities are $905,000 consisting of current liabilities of $75,000 and non-current liabilities of $830,000 including loans of $30,000 and a mortgage of $800,000. Owner's equity is $209,500.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    707 views1 page

    Account Form Abamagaling School Supply Store Statement of Financial Position As of June 30, 2020

    Uploaded by

    Henry Balmores Tamayo
    The Abamagaling School Supply Store's statement of financial position as of June 30, 2020 shows total assets of $1,114,500 including current assets of $313,500 such as cash of $40,000 and inventory of $200,000. Total liabilities are $905,000 consisting of current liabilities of $75,000 and non-current liabilities of $830,000 including loans of $30,000 and a mortgage of $800,000. Owner's equity is $209,500.

    Copyright:

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

    ACCOUNT FORM

    ABaMagaling School Supply Store


    STATEMENT OF FINANCIAL POSITION
    As of June 30, 2020

    ASSETS LIABILITIES and OWNER’S EQUITY


    CURRENT ASSETS CURRENT LIABILITIES
    CASH P40,000 ACCOUNTS PAYABLE P50,000
    ACCOUNTS RECEIVABLE P24,000 ACCRUED EXPENSES 25,000
    LESS: ALLOWANCE FOR BAD DEBTS 2,000 22,000 TOTAL CURRENT LIABILITIES P75,000
    NOTES RECEIVABLE 17,000
    ACCRUED INCOME 23,000 NON-CURRENT LIABILITIES
    MERCHANDISE INVENTORY 200,000 LOANS PAYABLE (6 years) 30,000
    PREPAID INSURANCE 3,500 MORTGAGE PAYABLE 800,000
    PREPAID RENT 2,000 TOTAL NON-CURRENT LIABILITIES 830,000
    SUPPLIES 6,000 P905,000
    TOTAL CURRENT ASSETS P313,500 OWNER’S EQUITY
    MAGALING, CAPITAL 06/30/2020 209,500
    NON-CURRENT ASSETS TOTAL LIABILITIES AND OWNER’S EQUITY P1,114,500
    PROPERTY, PLANT, AND EQUIPMENT
    LAND P500,000
    BUILDING P250,000
    LESS: ACCUMULATED DEPRECIATION-BLDG 15,000 235,000
    EQUIPMENT 70,000
    LESS: ACCUMULATED DEPRECIATION-EQPMT 14,000 56,000
    FURNITURES AND FIXTURES 10,000 P801,000
    TOTAL ASSETS P1,114,500

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