TOTAL ASSETS

Current Assets
Cash and Cash Equivalents 1 PhP 7,248,500.00
Notes Receivables 50,000.00
Accounts Receivables - net 2 455,000.00
Inventories 3 500,000.00 PhP 8,253,500.00

Non-current Assets
Property, Plant and Equipment 4 PhP 925,000.00
Intangible Assets 5 450,000.00 1,375,000.00

Total Assets PhP 9,628,500.00

TOTAL LIABILITIES AND OWNER'S EQUITY

Current Liabilities
Trade and Other Payables 6 PhP 750,000.00
Notes Payable 250,000.00 PhP 1,000,000.00

Non-current Liabilities
Long-term Debt 1,250,000.00

Total Liabilities PhP 2,250,000.00

Total Equity
Owner's Capital 7,378,500.00

Total Liabilities and Owner's Equity PhP 9,628,500.00

1. Cash and Cash Equivalents PhP 7,248,500.00

2. Inventories PhP 500,000.00

3. Property, Plant and Equipment PhP 925,000.00

4. Intangible Assets PhP 450,000.00

5. Current Assets PhP 8,253,500.00

6. Non-current Assets PhP 1,375,000.00

7. Current Liabilities PhP 1,000,000.00

8. Non-current Liabilities PhP 1,250,000.00

9. Total Assets PhP 9,628,500.00
Note 1 Cash in Banco (1) PhP 2,000,000.00
Cash in Banco (2) (14,000.00)
Petty Cash Fund 5,218,750.00
Cash in Metro Pacific Bank 12,500.00
Change Cash Fund 6,250.00
Cash Equivalent 25,000.00
Cash and Cash Equivalent PhP 7,248,500.00

Note 2 Accounts Receivables PhP 500,000.00

Allowance for Doubtful Accounts (45,000.00)
Net Realizable Value PhP 455,000.00

Note 3 Raw Materials PhP 150,000.00

Work in Progress 100,000.00
Finished Goods 250,000.00
Inventories PhP 500,000.00

Note 4 Land used as Plant Site PhP 250,000.00

Vehicles 500,000.00
Acc. Depreciation - Vehicles (50,000.00)
Fixtures 250,000.00
Acc. Depreciation - Fixtures (25,000.00)
Property, Plant and Equipment PhP 925,000.00

Note 5 Patents PhP 250,000.00

Acc. Amortization - Patents (25,000.00)
Trademarks 250,000.00
Acc. Amortization - Trademark (25,000.00)
Intangible Assets PhP 450,000.00

Note 6 Accounts Payable PhP 500,000.00

Interest Payable 25,000.00
Income Tax Payable 225,000.00
Trade and Other Payables PhP 750,000.00