Scribd
Upload
57 views2 pages

Activity 5 - Tolentino

This document is the statement of financial position for YVONE Company as of December 31, 2018. It lists the company's current assets of ₱14,020,000 including cash, trading securities, receivables, and inventories. Non-current assets total ₱15,400,000 including property, equipment, investments, and intangibles. Total assets are ₱29,420,000. Liabilities include current liabilities of ₱5,380,000 and non-current liabilities of ₱11,200,000. Owner's equity is ₱12,840,000 attributed to capital contributions from the owner Yvone.

Uploaded by

DJazel Tolentino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
57 views2 pages

Activity 5 - Tolentino

This document is the statement of financial position for YVONE Company as of December 31, 2018. It lists the company's current assets of ₱14,020,000 including cash, trading securities, receivables, and inventories. Non-current assets total ₱15,400,000 including property, equipment, investments, and intangibles. Total assets are ₱29,420,000. Liabilities include current liabilities of ₱5,380,000 and non-current liabilities of ₱11,200,000. Owner's equity is ₱12,840,000 attributed to capital contributions from the owner Yvone.

Uploaded by

DJazel Tolentino
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

Fundamentals of Accounting, Business

and Management 2

Activity 5
YVONE Company

Tolentino, DJazel
ABM 12 - 2
YVONE Company
Statement of Financial Position
December 31, 2018
Assets Liabilities and Owner's Equity
Current Assets: Current Liabilities:
Cash and cash equivalents (Note 1) ₱ 3,250,000.00 Trade and other payables (Note 7) ₱ 2,880,000.00
Trading securities (Note 2) 2,100,000.00 Bank borrowings 2,000,000.00
Trade and other receivables (Note 3) 5,220,000.00 Estimated liability for damages 500,000.00
Inventories 3,000,000.00 Total current liabilities ₱ 5,380,000.00
Prepaid expenses (Note 3) 250,000.00
IOUs from officers and employees 200,000.00 Non-current Liabilities:
Total current assets ₱ 14,020,000.00 Long-term borrowings (Note 8) ₱ 7,200,000.00
Mortgage payable 4,000,000.00
Non-current Assets: Total non-current liabilities 11,200,000.00
Property, plant, and equipment (Note 4) ₱ 11,800,000.00 Total Liabilities ₱ 16,580,000.00
Long-term investments (Note 5) 2,300,000.00
Intangibles (Note 6) 1,300,000.00 Owner's Equity:
Total non-current assets ₱ 15,400,000.00 Yvone, capital (Note 9) 12,840,000.00
Total Assets ₱ 29,420,000.00 Total Liabilities and Owner's Equity ₱ 29,420,000.00

Note 7 - Trade and other payables


Note 1 - Cash and cash equivalents Accounts payable ₱ 2,800,000.00
Cash on hand ₱ 350,000.00 Accrued expenses 80,000.00
Cash in bank 2,400,000.00 Total trade and other payables ₱ 2,880,000.00
Time deposits 500,000.00
Total cash and cash equivalents ₱ 3,250,000.00 Note 8 - Long-term borrowings
Notes payable ₱ 2,800,000.00
Note 2 - Trading securities Bonds payable ₱ 5,000,000.00
Trading equity securities ₱ 1,200,000.00 Discount on bonds payable ( 6,000,000.00 ) 4,400,000.00
Trading debt securities 900,000.00 Total long-term borrowings ₱ 7,200,000.00
Total trading securities ₱ 2,100,000.00
Note 9 - Owner's equity
Note 3 - Trade and other receivables Yvone, capital ₱ 14,640,000.00
Accounts receivable ₱ 3,000,000.00 Yvone, drawing 1,800,000.00
Allowance for doubtful accounts ( 200,000.00 ) ₱ 2,800,000.00 Total owner's equity ₱ 12,840,000.00
Installment receivable 800,000.00
Notes receivable 1,600,000.00
Accrued interest receivable on notes 20,000.00
Total trade and other receivables ₱ 5,220,000.00

Note 4 - Property, plant, and equipment


Land ₱ 6,500,000.00
Building ₱ 4,000,000.00
Accumulated depreciation - building ( 1,200,000.00 ) 2,800,000.00
Machinery ₱ 3,500,000.00
Accumulated depreciation - machinery ( 1,000,000.00 ) 2,500,000.00
Total property, plant, and equipment ₱ 11,800,000.00

Note 5 - Long-term investments


Investment in bonds ₱ 2,000,000.00
Sinking fund 300,000.00
Total long-term investments ₱ 2,300,000.00

Note 6 - Intangibles
Goodwill ₱ 1,000,000.00
Trademark 300,000.00
Total intangibles ₱ 1,300,000.00

You might also like