APO ENTERPRISES

Balance Sheet
As of January 31, 2018

ASSETS
Current Assets:
Cash In Bank P399,338.80
Accounts Receivable P59,640
Less: Allowance for Doubtful Accounts P2,982 P56,658
Prepaid Insurance P63,250
Unused Store Supplies P1,200
Merchandise Inventory P195,300 P715,746.80
Non-Current Assets:
Store Building P360,000
Accumulated Depreciation-Store
(P1,500) P358,500
Building
Equipments P450,000
Accumulated Depreciation
(P3,750) P446,250
Equipments
Furniture and Fixtures P75,000
Accumulated Depreciation-Furniture
(P625) P74,375 P879,125
and Fixtures
Total Assets P1,594,871.80

LIABILITIES
Current Liabilities:
Accounts Payable P206,400
VAT Payable P23,874.51
Accrued Expense P9,300
Total Liabilities P239,574.51

OWNER’S EQUITY
Ojena, Capital P1,185,000
Less: Ojena, Drawing P100,000
Total P1,085,000
Add: Net Profit P270,297.29
Total Owner’s Equity P1,355,297.29

Total Liabilities and Owners Equity P1,594,871.80