BAU Manufacturing Corporation

Trial Balance
December 31, 2020

Debit
Petty Cash Fund 50,000
Undeposited Collections 76,510
Change Fund 10,000
MBTC SA#42006865 4,534,704
UBP CA#58651370 28,676,591
BPI CA#13708566 5,377,495
BDO $ SA#85664200 1,371,119
Deutsche Bank $ SA#66745237 10,045,716
Metrobank Money Market Placement 232,000,000
Temporary Investment 1,560,000,000
Trade Receivables 1,328,283,547
Advances to Suppliers & Contractors 81,293,226
Advances to Officers & Employees 10,831,222
Advances to Subsidiary 153,990,175
Interest Receivable 156,889
Other Receivables - Nontrade 34,793,698
Allowance for Doubtful Accounts - Trade Receivables
Allowance for Doubtful Accounts - ADV S&C
Inventory - Raw Materials (Beg) 525,512,615
Inventory - Goods in Process (Beg) 10,564,748
Inventory - Finished Goods (Beg) 1,122,496,522
Allowance for Inventory Obsolescence - Raw Materials
Allowance for Inventory Obsolescence - Goods in Process
Allowance for Inventory Obsolescence - Finished Goods
Prepaid Expenses 31,853,447
Creditable Withholding Taxes 29,790,471
Value-Added Input Tax 11,511,348
Financial Assets at FVOCI 1,586,038
Investment in Subsidiary 5,122,271
Land 2,236,029,162
Land Improvements 192,509,045
Building and Improvements 1,223,511,001
Factory Machinery and Equipment 2,020,870,339
Office Furniture, Fixtures and Equipment 184,016,993
Transportation Equipment 141,320,455
Construction in Progress 310,443,344
Right of Use Asset - Building 25,739,710
Accumulated Depreciation - Land Improvements
Accumulated Depreciation - Building and Improvements
Accumulated Depreciation - Factory Machinery and Equipment
Accumulated Depreciation - Office Furniture, Fixtures and Equipment
Accumulated Depreciation - Transportation Equipment
Accumulated Depreciation - ROU Asset - Building
Software 110,099,686
Accumulated Amortization - Software
Goodwill 25,000,000
NC-Deferred Input VAT 2,253,157
Long-Term Deposit 19,115,475
Deferred Tax Asset - Retirement Liability 84,597,324
Deferred Tax Asset - Provisions 43,243,688
Deferred Tax Asset - Unamortized Past Service Cost 26,482,046
Deferred Tax Asset - Allowance for Inventory Losses 45,889,666
Deferred Tax Asset - Allowance for Doubtful Accounts 1,298,331
Deferred Tax Asset - Unrealized Forex Loss 1,146,962
Accounts Payable - Trade
Accounts Payable - Nontrade
Unreleased checks - UBP CA#58651370
Unreleased checks - BPI CA#13708566
Brand license fees payable
Advances from Customers
Dividends Payable
Output VAT
Income Tax Payable
Accrued advertising expenses and sales promotions
Accrued expenses - Suppliers
Accrued salaries and other employee benefits
Accrued freight expenses and releasing charges
Provisions for warranty claims
NC-Provisions for warranty claims
NC-Provisions for other estimated liabilities
Provisions for other long-term employee benefits
Lease liabilities
NC-Lease liabilities
Retirement liability
Deferred Tax Liability - Revaluation Surplus
Common Stock - Class A
Common Stock - Class B
Additional Paid in Capital
Retained Earnings (Beg)
Cash Dividends Declared 88,736,084
Retained Earnings - Appropriated (Beg)
Revaluation Surplus (Beg)
Unrealized (Gain)/Loss on Financial Assets at FVOCI (Beg)
Remeasurement Loss on Retirement Liability (Beg) 84,754,687
Sales
Sales returns and allowances 188,004,447
Sales discounts 438,677,043
Purchases - Raw Materials 8,553,721,143
Freight in - Raw Materials 42,570,247
Purchase discount - Raw Materials
Purchase returns and allowances - Raw Materials
Compensation expense 637,149,431
Retirement benefit expense 30,754,766
Other employee benefit expense 119,390,034
Sales promotions 641,408,369
Freight and storage 403,216,292
Advertising and commissions 156,088,105
Provision for warranty claims 67,830,925
Research and development 74,583,358
Electricity, gas and water 70,527,086
Repairs and maintenance 151,389,890
Travel 49,571,556
Insurance 28,812,057
Taxes and dues 48,431,129
Other manufacturing overhead 60,443,065
Provision for inventory writedown 131,830,402
Technical assistance fees 183,881,413
Brand license fees 87,067,735
Outsourcing 66,761,475
Communications 6,864,080
Rent 2,417,700
Other general and administrative expenses 62,212,036
Depreciation Expense - Land Improvements 3,888,686
Depreciation Expense - Building and Improvements 50,032,792
Depreciation Expense - Factory Machinery and Equipment 164,237,262
Depreciation Expense - Office Furniture, Fixtures and Equipment 16,297,300
Depreciation Expense - Transportation Equipment 12,460,650
Depreciation Expense - ROU Asset - Building 14,963,151
Amortization Expense - Software 1,295,137
Dividend Income
Interest income - Bank
Interest income - Temporary Investments
Interest income - Advances to subsidiary
Financing charges 26,710
Accretion expense - Lease liability 979,388
Reversal of other estimated liabilities
Recovery of allowance for doubtful accounts
Income from scrap sales
Miscellaneous income
Gain on disposal/retirement of PPE
Loss on disposal/retirement of PPE 157,851
Realized forex (gain)/loss - Cash 57,554
Realized forex (gain)/loss - Accounts Payable
Unrealized forex (gain)/loss - Cash
Unrealized forex (gain)/loss - Accounts Payable 3,823,207
Provision for Income Tax - Current 121,341,081
Provision for Income Tax - Deferred
Gain on revaluation of land - OCI
Unrealized loss on financial assets at FVOCI - OCI 3,199,545
Loss on remeasurement of retirement liability - OCI 62,111,145
24,815,460,751

Additional information:
Ending Inventory
Raw Materials 636,759,304
Goods in Process 14,434,667
Finished Goods 1,028,377,924

Allocation of expenses
Manufacturing
Overhead
Compensation expense 344,060,693
Retirement benefit expense 16,607,574
Other employee benefit expense 64,470,618
Sales promotions -
Freight and storage -
Advertising and commissions -
Provision for warranty claims -
Research and development 74,583,358
Electricity, gas and water 64,094,710
Repairs and maintenance 56,375,848
Travel 13,277,711
Insurance 11,494,301
Taxes and dues 4,261,158
Other manufacturing overhead 60,443,065
Provision for inventory writedown 131,830,402
Technical assistance fees -
Brand license fees -
Outsourcing -
Communications -
Rent -
Other general and administrative expenses -
Depreciation and amortization 213,007,314

Indirect materials and labor

Indirect materials 43,065,874
Indirect labor 187,835,092

Other information
1. The temporary investments are 90-day treasury bills.
2. The right of use asset is accounted for (and presented) as part of property, plant and equipment.
3. The financial asset at FVOCI is an investment in equity shares in utility companies.
 Credit

4,327,771
-

-
-
152,965,553

161,117,708
834,805,507
1,620,873,831
168,367,900
116,740,010
14,963,151

107,464,155
 506,430,274
109,084,193
4,000,208
420,879
37,180,355
40,716,120
88,736,084
-
-
1,038,747,000
584,189,814
26,392,075
6,359,515
79,472,587
21,846,413
301,728,936
21,888,487
8,986,996
1,721,796
122,592,066
536,647,000
84,723,432
337,994,588
4,779,762
350,781,429

3,250,000,000
581,041,122
3,825,093

12,194,022,800

297,991,729
127,710,741
 -
117,725
29,265,228
18,478,920

42,711,933
598,229
8,015,541
577,200
515,446

4,149,039
-

88,259,200
671,135,209

24,815,460,751

General and
Selling Expenses Administrative
- 293,088,738
- 14,147,192
- 54,919,416
 641,408,369 -
400,499,134 2,717,158
156,088,105 -
67,830,925 -
- -
- 6,432,376
- 95,014,042
- 36,293,845
- 17,317,756
- 44,169,971
- -
- -
- 183,881,413
- 87,067,735
- 66,761,475
- 6,864,080
- 2,417,700
- 62,212,036
- 50,167,664

d equipment.
Prepare the financial statements of the BAU Manufacturing Corporation, and determine the followin
1.    Cash and cash equivalents
2.    Trade and other receivables
3.    Inventories
4.    Total current assets
5.    Property, plant and equipment
6.    Total noncurrent assets
7.    Total assets
8.    Total current liabilities
9.    Total noncurrent liabilities
10. Total liabilities
11. Total other comprehensive income in equity
12. Total equity
13. Total liabilities and equity
14. Net deferred tax liability (asset) 
15. Net sales
16. Total manufacturing overhead
17. Total manufacturing cost
18. Cost of goods manufactured
19. Cost of goods sold
20. Gross profit
21. Selling expenses
22. General and administrative expenses
23. Income before income tax
24. Provision for income tax
25. Net forex gain (loss)
26. Net income (loss)
27. Other comprehensive income (loss) - may be reclassified to profit or loss
28. Other comprehensive income (loss) - may not be reclassified to profit or loss
29. Total comprehensive income (loss)
d determine the following:

to profit or loss
ied to profit or loss