Mt.

Carmel Farms
Balance Sheet
Book of Accounts for 2013
FARM
Current Assets Current Liabilities
Cash on Hand ₱ 24,000.00 Forthcoming Principal Loan ₱ 38,000.00
Market Cattle ₱ 10,000.00 Accounts Payable ₱ 12,000.00
Harvested Corn ₱ 54,000.00 Interest Payable ₱ 21,500.00
Seeds ₱ 12,000.00 Utilities ₱ 12,000.00
fertilizer ₱ 23,000.00 Tax Due ₱ 35,000.00
Stored Palay ₱ 210,000.00 Insurance ₱ 32,000.00
Irrigation Payable ₱ 6,000.00
Total Current Assets ₱ 333,000.00 Total Current Liabilities ₱ 156,500.00

Intermediate Assets Intermediate Liabilities

Loan to Purchase Breeding
Assorted Tools ₱ 42,280.00 Livestock ₱ 120,000.00
Balance on Loan for Additional
Working Cattle ₱ 18,000.00 Capital ₱ 55,000.00
Rotary Grass Cutter ₱ 75,455.00

Total Intermediate Assets ₱ 135,735.00 Total Intermediate Liabilities ₱ 175,000.00

Long Term Assets Long Term Liabilities

Farm Land ₱ 2,040,000.00
Farm House ₱ 60,000.00
Pig Pen ₱ 18,000.00
Total Long-Term Assets ₱ 2,118,000.00 Total Long-Term Liabilities ₱ -
TOTAL FARM ASSETS ₱ 2,586,735.00 TOTAL FARM LIABILITIES ₱ 331,500.00
OWNER EQUITY (FARM) ₱ 2,255,235.00
TOTAL LIABILITIES AND
OWNER'S EQUITY ₱ 2,586,735.00