Gabriel dela Cruz Designs

Statement of Financial Position

For the month ended January 31, 2016

ASSETS
Current Assets
Cash P 398,185
Accounts Receivable P 42,000
Less: Allowance for bad debts 840 41,160
Prepaid Insurance 7,187
Supplies 2,980 P 449,512

Non-Current Assets
Building P 3,000,000
Less: Accumulated Depreciation 6,042 2,993,958
Land 2,000,000
Automobile 210,000
Less: Accumulated Depreciation 1,750 208,250
Office Equipment 195,000
Less: Accumulated Depreciation 2,250 192,750
Furniture & Fixtures 35,800
Less: Accumulated Depreciation 597 35,203
Tools 10,000
Less: Accumulated Depreciation 167 9,833 5,439,994
TOTAL ASSETS P 5,889,506

LIABILITIES
Current Liabilities
Rent Payable P 10,000
Advances from clients 10,000
Accounts Payable 7,030
Utilities payable 1,350 28,380 28,380
TOTAL LIABILITIES P 28,380

CAPITAL P 5,861,126
TOTAL LIABILITIES AND CAPITAL P 5,889,506