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Ms

The financial position of Ms. CPA Buy and Sell Services as of December 31, 2018, shows total assets of ₱2,776,500.00, comprised of current assets totaling ₱1,268,500.00 and non-current assets of ₱1,508,000.00. Current liabilities amount to ₱795,000.00, with the remaining equity attributed to the owner's equity of ₱1,981,500.00. The document provides a detailed breakdown of assets, liabilities, and equity.

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47 views1 page

Ms

The financial position of Ms. CPA Buy and Sell Services as of December 31, 2018, shows total assets of ₱2,776,500.00, comprised of current assets totaling ₱1,268,500.00 and non-current assets of ₱1,508,000.00. Current liabilities amount to ₱795,000.00, with the remaining equity attributed to the owner's equity of ₱1,981,500.00. The document provides a detailed breakdown of assets, liabilities, and equity.

Uploaded by

fanyeojachingu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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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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