Statement of Financial Position

I. Assets
A. Current Assets
1. Cash (*Cash on Hand, Cash in Bank)
2. *Cash Equivalents
3. Investment in Trading Securities
4. Trade and Other Receivables
4. a. Accounts Receivable
4. b. (Allowance for Bad Debts)
4. c. Notes Receivable
4. d. Interest Receivable
4. e. Advances to Employees
4. f. Accrued Income
4. g. Rent Receivable
4. h. Dividend Receivable
5. Prepaid Expense
5.a. Prepaid/Store/Office Supplies
5. b. Prepaid Insurance
5. c. Prepaid Rent
B. Non-Current Assets
1. Property, Plant and Equipment (PPE)
1. a. Land
1. b. Building
1. c. Office/Store/Delivery Equipment
1. d. Office/Store Furniture
1. e. (Accumulated Depreciation)
II. Liabilities
A. Current Liabilities
1. Trade and Other Payables
1. a. Accounts Payable
1. b. Notes Payable
1. c. Loans Payable
1. d. Utilities Payable
1. e. Interest Payable
1. f. Salaries Payable
1. g. Unearned Income
1. h. Accrued Expenses
B. Non-Current Liabilities
1. Notes Payable
2. Loans Payable
3. Bonds Payable
4. Mortgage Payable
III. Owners Equity
A. Owner, Capital

Income Statement

I. Revenue/Income
A. Service Income
B. Other Income
1. Interest Income
2. Rent Income
3. Dividend Income
4. Royalties
5. Gain on Sale of Old Equipment
II. Expenses
A. Representation Expense
B. Rent Expense
C. Utilities Expense
D. Office Supplies Expense
E. Advertising Expense
F. Transportation Expense
G. Taxes and Licenses Expense
H. Gas and Oil
I. Employee Benefit Cost
1. Salaries Expense Office
2. Salaries Expense Sales
3. SSS Contribution Expense
4. Philhealth Premiums Expense
5. Pag-ibig Premiums Expense
J. Miscellaneous Expense
K. Other Expenses
1. Loss on Sale of Old Equipment
2. Loss on Sale of Old Furniture
L. Finance Cost
1. Interest Expense on Bank Loans
2. Interest Expense on Notes Payable
3. Interest Expense on Mortgage Payable
4. Interest Expense on Bonds Payable
Statement of Changes in Owners Equity
I. Owner, Capital
II. Additional Investment
III. (Drawing)