Instruction: Prepare the SCI, SCE, and SFP from the following

information. Apply the reporting standard of one-line presentation

KITAHANON COMPANY
TRIAL BALANCE
Decembere 31, 2020

10% Preferance Shares 5,000,000.00

Accounts Payable - Trade 75,000.00
Accounts Receivable - Trade 125,000.00
Accumulated Depreciaton - Furniture & Fixtures 36,500.00
Accumulated Depreciaton-Building 785,000.00
Accumulated Depreciaton-Equipment & Machinery 124,000.00
Accumulated Profit 12,306,250.00
Advances to Affiliates 500,000.00
Advances to Officers & Employee 120,000.00
Bonds Payable 10,000,000.00
Building 28,500,000.00
Cash Equivalents 40,000.00
Cash in Bank - Checking Account 785,000.00
Cash in Bank - Savings Account 80,000.00
Depreciation -Building 125,000.00
depreciation- Furniture & Fixtures 6,800.00
Depreciation-Equipment & Machinery 13,000.00
Equipment & Machinery 2,360,000.00
Finished Goods Inventory 14,300.00
Furniture & Fixtures 780,000.00
Goods n Process Inventory 5,000.00
IncomeTax Payable 56,000.00
Investment in Debt Securities 4,500,000.00
Investments in Equity Securities 2,500,000.00
Investments in Real Estate 5,000,000.00
Land 800,000.00
Mertgage Note Payable 3,000,000.00
Notes Payable 400,000.00
Notes Receivable 80,000.00
Ordnary shares 12,000,000.00
Petty Cash Funds 10,000.00
Raw Materials Inventory 23,600.00
Sale 9,500,000.00
Sales Discounts 125,000.00
Sales Returns * Allowanes 600,000.00
SSS/EC/HMDF/PhilHealth Premiums Payable 8,750.00
Treasury Shares 200,000.00
Unused Factory Supples 3,250.00
Unused Office supplies 1,250.00
Unused Store Supplies 1,500.00
VAT Payable 12,000.00
Income Tax Payable 34,200.00
Purchases 6,500,000.00
Purchase Returns & Allowances 450,000.00
Purchase Discount 75,000.00
Freight In 5,000.00
Other Operating Expenses 69,000.00
Total 53,867,700.00 53,867,700.00

107,735,400.00 107,735,400.00
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