Question

Accounts payable-trade .......4,350,00 Accounts receivable-trade ......3,100,00 Bank loan, short-term borrowings..... 1,500,000 Processing formulas ......300,000 Land held...

Accounts payable-trade .......4,350,00

Accounts receivable-trade ......3,100,00

Bank loan, short-term borrowings..... 1,500,000

Processing formulas ......300,000

Land held for speculation...... 2,500,000

Land ......5,000,000

Change fund .....30,000

Prepaid advertising ......80,000

Unused office supplies .......20,000

Notes payable-trade ......2,500,000

Notes receivable ........1,000,000

Copyright ........300,000

Tools...... 100,000

Building...... 8,000,000

Machinery...... 5,000,000

Office furniture...... 1,800,000

Computer software ......500,000

Bonds payable .......5,000,000

Time deposit due december 31, 2023...... 5,000,000

Premium on bonds payable..... 500,000

Cash in PNB#001 .......2,300,000

Cash in PNB#002 .......(150,000)

Jenny, capital..... 17,880,000

Accumulates depreciation, building....... 2,000,000

Accumulates depreciation, machinery...... 1,500,000

Accumulates depreciation, office furniture ......800,000

Jenny, drawing..... 2,800,000

Allowance for doubtful accounts ......300,000

Raw materials ........500,000

Accrued expenses ......250,000

Goods in process ......600,000

Accrued interest on notes receivable ......50,000

Cash on hand for deposit ......700,000

Investment in associate ........1,000,000

Mortgage payable in semi-annual installments of P500,000 ...... 4,000,000

SSS payable........ 200,000

Withholding tax payable .........150,000

Finished goods........ 1,000,000

Statement of Financial Position

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Answer #1
Statement of financial position
As on 31st December, 20XX
Assets Amount $ Amount $
Current Assets
Cash in PNB#001 2300000
Cash in PNB#002 -150000 2150000
Change funds 30000
cash on hand for deposits 700000
Accounts receivable- trade 3100000
Allowance for doubtful accounts -300000 2800000
Notes Receivable 1000000
Land held for speculation 2500000
Claim receivable
Trading Securities
Prepaid Advertising 80000
Unused office supplies 20000
Factory Supplies
Tools 100000
Inventories
Finished Goods 1000000
Goods in process 600000
Raw Materials 500000 2100000
Current Assets 11480000
Non Current Assets
Long Term Investments
Time deposit
Investment in associate 5000000
Investment in Bonds 1000000
Long Term Investments 6000000
Plant, Property & Equipment
Land 5000000
Building 8000000
Accumulated depreciation– Building -2000000 6000000
Machinery 5000000
Accumulated depreciation– Machinery -1500000 3500000
office furniture 1800000
Accumulated depreciation– furniture -800000 1000000
Plant, Property & Equipment 15500000
Intangible Assets
Copyright 300000
Computer software 500000
Processing formulas 300000
Franchise
Goodwill
Intangible Assets 1100000
Other Assets
Plant expansion fund 0
Other Assets
Total Assets 34080000
Liabilities & Stockholder's Equity
Liabilities
Current Liabilities
Accounts payable - trade 4350000
Notes payable- trade 2500000
Advances from customers
Accrued interest on note payable 50000
SSS payable 200000
Withholding tax payable 150000
Income tax payable
Accrued expenses 250000
Employees income tax payable
Bank loan - S T borrowings 1500000
Current portion of Serial bonds payable
Current Liabilities 9000000
Non Current Liabilities
Bonds Payable 5000000
Motgage payable 4000000
Non Current portion of Serial bonds payable
Notes payable
Non Current Liabilities 9000000
Total Liabilities 18000000
Stockholder's Equity
Jenny capital 17880000
Drawings -2800000
Share capital
Premium on bonds payable 500000
Share premium
Retained Earnings
Total Stockholder's Equity 15580000
Total Liabilities & Stockholder's Equity 33580000
Difference -500000

I have posted all correctly , still there is a difference , may be data is missing !!

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