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Financial Position Overview 2018

The statement of financial position shows total assets of $9,500,000 consisting of current assets of $2,560,000 including cash, investments, receivables, and inventory, and non-current assets of $6,940,000 including property, plant, and equipment, long-term investments, and intangible assets. Total liabilities are $3,120,000 consisting of current liabilities of $620,000 including payables and non-current liabilities of $2,500,000 in serial bonds payable. Owner's equity is $6,380,000 consisting of share capital, share premium, and retained earnings.

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334 views3 pages

Financial Position Overview 2018

The statement of financial position shows total assets of $9,500,000 consisting of current assets of $2,560,000 including cash, investments, receivables, and inventory, and non-current assets of $6,940,000 including property, plant, and equipment, long-term investments, and intangible assets. Total liabilities are $3,120,000 consisting of current liabilities of $620,000 including payables and non-current liabilities of $2,500,000 in serial bonds payable. Owner's equity is $6,380,000 consisting of share capital, share premium, and retained earnings.

Uploaded by

Alieza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Simple Company

Statement of Financial Position


As of December 31, 2018

ASSETS

Note
Current Assets
Cash Ρ 420,000
Investment in Trading Securities 250,000

Trade and Other Receivables (1) 620,000


Inventory (2) 1,250,000
Prepaid Insurance 20,000
Total Current Assets Ρ 2,560,000

Non-Current Asset
Property Plant and Equipment (3) Ρ 4,640,000
Long term Investments (4) 2,000,000
Intangible Assets (5) 300,000
Total Non-Current Assets Ρ 6,940,000

Total Assets Ρ 9,500,000

LIABILITIES AND OWNER’S EQUITY


Current Liabilities
Trade and Other Payables (6) Ρ 620,000
Total Current Liabilities Ρ 620,000

Non-Current Liabilities
Serial Bonds Payable Ρ 2,500,000
Total Non-Current Liabilities Ρ 2,500,000

Owner’s Equity
Share Capital Ρ 5,000,000
Share Premium 500,000
Retained Earnings 880,000
Total Owner’s Equity Ρ 6,380,000

Total Liabilities and Owner’s Equity Ρ 9,500,000


Note 1 – Trade and Other Receivables

Accounts Receivable Ρ 500,000


Allowance for Doubtful Accounts (50,000)
Notes Receivable 150,000
Claim Receivable 20,000

Total Trade and Other Receivables Ρ 620,000

Note 2 – Inventories
Finished Goods Ρ 400,000
Goods in Process 600,000
Raw Materials 200,000
Factory Supplies 50,000

Total Inventories Ρ 1,250,000

Note 3 – Property, Plant and Equipment


Land Ρ 1,500,000
Machinery 2,000,000
Tools 40,000
Accumulated Depreciation – Machinery (1,300,000)
Building 4,000,000
Accumulated Depreciation – Building (1,600,000)

Total Property, Plant, and Equipment Ρ 4,640,000

Note 4 – Long term Investments


Investment in bonds Ρ 1,500,000
Plant expansion fund 500,000

Total Long term Investments Ρ 2,000,000

Note 5 – Intangible Assets


Franchise Ρ 200,000
Goodwill 100,000
Total Intangible Assets Ρ 300,000

Note 6 – Trade and Other Payables


Accounts Payable Ρ 300,000
Notes Payable 100,000
Accrued Interest on Note Payable 10,000
Income Tax Payable 60,000
Employees Income Tax Payable 20,000
Accrued Expenses 30,000
Advances from Customers 100,000

Total Trade and Other Payables Ρ 620,000

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