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  • ABM Merchandising Statement of Financial Position December 31, 2019 Assets

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    Kristine Ann Carandang
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    ABM Merchandising's statement of financial position as of December 31, 2019 showed total assets of P148,030 consisting of current assets of P115,730 and non-current assets of P32,300. Total liabilities and owner's equity were P148,030 with current liabilities of P30,765 and owner's equity of P117,265. ABM Merchandising's statement of comprehensive income for the year ended December 31, 2019 showed net income of P1,225 with net sales of P116,500 and total expenses of P60,750.

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    ABM Merchandising's statement of financial position as of December 31, 2019 showed total assets of P148,030 consisting of current assets of P115,730 and non-current assets of P32,300. Total liabilities and owner's equity were P148,030 with current liabilities of P30,765 and owner's equity of P117,265. ABM Merchandising's statement of comprehensive income for the year ended December 31, 2019 showed net income of P1,225 with net sales of P116,500 and total expenses of P60,750.

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    11 views2 pages

    ABM Merchandising Statement of Financial Position December 31, 2019 Assets

    Uploaded by

    Kristine Ann Carandang
    ABM Merchandising's statement of financial position as of December 31, 2019 showed total assets of P148,030 consisting of current assets of P115,730 and non-current assets of P32,300. Total liabilities and owner's equity were P148,030 with current liabilities of P30,765 and owner's equity of P117,265. ABM Merchandising's statement of comprehensive income for the year ended December 31, 2019 showed net income of P1,225 with net sales of P116,500 and total expenses of P60,750.

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    © All Rights Reserved
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    ABM Merchandising

    Statement of Financial Position


    December 31, 2019

    ASSETS
    Current Assets

    Cash P 50, 575


    Accounts Receivables P18,500
    Less: Allowance for bad debts 1,850 16,650
    Merchandise Inventory 47,755
    Prepaid Expenses 750
    Total: P 115,730

    Non Current
    Property and Equipment 32,300

    TOTAL ASSETS: P 148,030

    LIABILITIES & OWNER’S EQUITY

    Current Liabilities:

    Trade and Other Payables: P 30,765


    Owner’s Equity:
    ABM, capital 117,265
    TOTAL LIABILITIES & OWNER’S EQUITY: P 148,030
    ABM Merchandising
    Statement of Comprehensive Income
    December 31, 2019

    Net Sales: P 116,500


    Cost of Sales: 55,750
    Gross Income 60,750
    Rent Income 1,125
    Distribution Expenses (42,425)
    Administrative Expenses ( 18,125)
    Operating Income 1,325
    Interest Expense ( 70)
    NET INCOME: P 1,225

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