Current Assets:

Cash
Trading Securities
Trade and other receivables
Inventories
Prepaid Expenses
Total Current Assets

Non Current Assets:

Property, Plant and Equipment
Long-Term Investments
Intangible Assets
Total Non Current Assets

Total Assets

Current Liabilities
Trade and other payable
Serial Bond Payable - current por
Total Current Liabilities

Non Current Liabilities

Serial Bond Payable - remaining p
Total Non Current Liabilties

Total Liabilities

Shareholder's Equity
Share Capital
Share Premium
Retained Earnings
Total Shareholder's Equity

Total Liabilities and Shareholder's Equity

 Simple Company
Statement of Financial Position Notes to Financial Statemen
As of December 31, 2021

Note Amount Note 1

420,000.00 Accounts Receivable
Trading Securities 250,000.00 Allowance for Doubtful Acco
Trade and other receivables 1 620,000.00 Notes Receivable
Inventories 2 1,250,000.00 Claims Receivable
Prepaid Expenses 3 20,000.00 Total
2,560,000.00
Note 3
Prepaid Insurance
Property, Plant and Equipment 4 4,640,000.00
Long-Term Investments 5 2,000,000.00 Note 5
Intangible Assets 6 300,000.00 Investment in Bonds
6,940,000.00 Plant Expansion Fund
Total
9,500,000.00
Note 6
Franchise
Trade and other payable 7 620,000.00 Goodwill
Serial Bond Payable - current portion 500,000.00 Total
1,120,000.00

Notes 7
Serial Bond Payable - remaining portion 2,000,000.00 Accounts Payable
nt Liabilties 2,000,000.00 Notes Payable
Income tax Payable
3,120,000.00 Advances from customers
Accrued Expenses
Accrued interest on note pay
Share Capital 5,000,000.00 Employees income tax payab
Share Premium 500,000.00 Total
Retained Earnings 880,000.00
6,380,000.00

and Shareholder's Equity 9,500,000.00

otes to Financial Statements

Note 2
counts Receivable 500,000.00 Raw Materials
owance for Doubtful Accounts - 50,000.00 Goods in Process
tes Receivable 150,000.00 Finished Goods
aims Receivable 20,000.00 Factory Supplies
620,000.00 Total

Note 4
epaid Insurance 20,000.00
Land
Building
vestment in Bonds 1,500,000.00 Machinery
ant Expansion Fund 500,000.00 Tools
2,000,000.00 Total

200,000.00
100,000.00
300,000.00

counts Payable 300,000.00

tes Payable 100,000.00
come tax Payable 60,000.00
vances from customers 100,000.00
crued Expenses 30,000.00
crued interest on note payable 10,000.00
mployees income tax payable 20,000.00
620,000.00
 200,000.00
600,000.00
400,000.00
50,000.00
1,250,000.00

Cost Acc. Depreciation Book Value

1,500,000.00 - 1,500,000.00
4,000,000.00 1,600,000.00 2,400,000.00
2,000,000.00 1,300,000.00 700,000.00
40,000.00 - 40,000.00
4,640,000.00
Current Assets
Cash and Cash Equivalents
Trading Securities
Trade and other recceivables
Inventories
Prepaid Expenses
Total Current Assets

Non Current Assets

Property, Plant and Equipment
Long Term Investment
Intangible Assets
Other noncurrent assets
Total Non Current Assets

Total Assets

Current Liabilities
Trade and other payable
Total Current Liabilities
Non Current Liabilities
Bond Payable
Premiun on Bonds Payable
Total non Current Liabilities

Total Liabilities

Shareholder's Equity
Share Capital
Reserves
Retained Earnings (Deficit)
Total Shareholder's Equity

Total Liabilities and Shareholder's Equity

 Exemplar Company
Statement of Financial Position
As of December 31, 2021

Note Amount
Cash Equivalents 500,000.00
280,000.00
d other recceivables 1 640,000.00
1,300,000.00
70,000.00
2,790,000.00

Plant and Equipment 2 5,300,000.00

m Investment 3 1,310,000.00
4 3,350,000.00
ncurrent assets 5 150,000.00
10,110,000.00

12,900,000.00

d other payable 6 1,000,000.00

ent Liabilities 1,000,000.00

5,000,000.00
on Bonds Payable 1,000,000.00
Current Liabilities 6,000,000.00

7,000,000.00

7 7,000,000.00
8 700,000.00
Earnings (Deficit) - 1,800,000.00
5,900,000.00

Shareholder's Equity 12,900,000.00

Notes to Financial Statements

Note 1 Note 2
Accounts Receivable 400,000.00 Cost
Allowance for doubtful Accounts - 20,000.00 Land 1,500,000.00
Notes Receivable 250,000.00 Building 5,000,000.00
Accrued Interest on notes receivable 10,000.00 Equipment 1,000,000.00
Total 640,000.00 Total

Note 3 Note 4
Land held for Speculation 500,000.00 Computer Software
Sinking fund 400,000.00 Patent
Preference share redemption fund 350,000.00 Total
Cash surrender value 60,000.00
Total 1,310,000.00

Note 5 Note 6
Advances to officers, not collectible currently 100,000.00 Accounts Payable
Long-term refundable Deposits 50,000.00 Notes Payable
Total 150,000.00 SSS Payable
Accrued Salaries
Dividends Payable
Note 7 Withholding Tax Payable
Ordinary Share Capital 5,000,000.00 Unearned Rent Income
Preference Share Capital 2,000,000.00 Total
Total 7,000,000.00

Note 8
Share Premium - Preference 500,000.00
Share Premium - Ordinary 200,000.00
Total 700,000.00
Acc. Depreciation Book Value
- 1,500,000.00
2,000,000.00 3,000,000.00
200,000.00 800,000.00
5,300,000.00

3,250,000.00
100,000.00
3,350,000.00

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LCNRV Lower of Cost or Net Realizable Value

Beginning Inventory
Purchases:
Jan-06
Jan-26
Total Goods Available For Sale

Sales:
Jan. 7
Jan. 31
Ending Inventory (units)

Jan. 26
Jan.06
Total Ending Inv. Cost

Sales in Units
Beg. Inv.
Remainder
Cost of Sales

Cost of Goods Sold

Purchase Price(net)
Import Duties
Freight and insurance on Purchases
Other handling Cost
Brokerage Commission
Total

Raw Materials
Work in Progress/Goods in Process
Finished Goods

Direct Materials 180,000.00

Variable Production Overhead 25,000.00
Factory administrative Cost 15,000.00
Fixed Production Cost 20,000.00
Total 240,000.00
 Cost
3,000.00 58,650.00

10,200.00 219,300.00
2,250.00 46,350.00
vailable For Sale 15,450.00 324,300.00
Weighted Ave. Cost
Ending Invetory (in Units)
- 2,700.00 Ending Inv. Cost
- 7,200.00 Rounded Cost
5,550.00 Cost of Goods Sold

2,250.00 20.6 46,350.00

3,300.00 21.50 70,950.00
5,550.00 117,300.00

9,900.00
3,000.00 19.55 58,650.00
6,900.00 21.5 148,350.00
207,000.00

207,000.00
 5,000,000.00
400,000.00
1,000,000.00
100,000.00
200,000.00
6,700,000.00

Goods in Process
 20.99
5,550.00
116,496.12
116,495.00
207,805.00
Beginning Inventory
Purchases:
Jan-06

Sale
Jan-07

Purchase
Jan-26

Sales
Jan. 31
Ending Inventory
Cost of Sales
 Units Unit Cost Cost
3,000.00 19.55 58,650.00

10,200.00 21.5 219,300.00

13,200.00 21.06 277,950.00
21.06
2,700.00 21.06 56,862.00 Cost of Sales
10,500.00 221,088.00

2,250.00 20.6 46,350.00

12,750.00 20.9755294117647 267,438.00
20.98
 7,200.00 20.98 151,056.00 Cost of Sales
5,550.00 116,382.00
207,918.00

Product A Product B Product C

Purchase Price 100,000.00 250,000.00 300,000.00
Freight - in 12,000.00 30,000.00 36,000.00
Cost 112,000.00 280,000.00 336,000.00

NRV
Selling Price 210,000.00 300,000.00 570,000.00
Cost to Sell Freight Out 10,500.00 75,000.00 11,400.00
NRV 199,500.00 225,000.00 558,600.00

Lower of Cost/NRV

Lower 112,000.00 225,000.00 336,000.00

Items: Units Unit Cost NRV

1 1,000.00 110.00 100.00
2 2,000.00 250.00 260.00
3 3,000.00 300.00 330.00
4 4,000.00 500.00 480.00
5 5,000.00 650.00 620.00
6 2,000.00 800.00 790.00
7 2,000.00 730.00 780.00
 673,000.00

Lower Total Valuation

100.00 100,000.00
250.00 500,000.00
300.00 900,000.00
480.00 1,920,000.00
620.00 3,100,000.00
790.00 1,580,000.00
730.00 1,460,000.00
9,560,000.00
Cash - can be cash on hand or the Cash in Bank
Cash in Bank - Compensating balance

Cash Equivalents

As of December 31, 2021

Time Deposit 1,000,000.00
Maturity : February 28, 2022
Maturity: December 31, 2022

Time Deposit ng January 1, 2021

Maturity : December 31, 2021

Statement of Cash Flows

Operating Activities: Generally - current assets and current liabilities, activities from normal course of business (Income Statem
Investing Activities : - Noncurrent Assets
Financing Activities - Noncurrent Liability, Equity

Direct Method
Indirect Method - Operating lang siya magaaply

Net Income

Operating Activities
Dividend received

Cash received from Customers

Interest Received
Cash paid to suppliers and employ
Interest paid on Long Term Debt
 Income taxes paid
Net Cash Inflows under operating activities
Investing
Proceeds from long term investme

Financing
Proceeds from issuing shares
Dividend Paid
Net Cash inflows under financing

Net Changes
Cash Beginning
Cash Balance ending
business (Income Statement)

Silent
Option 1

500,000.00 Operating Activities

ived from Customers
to suppliers and employees
aid on Long Term Debt
Dividend Paid
9,000,000.00 Cash received from Customers
200,000.00 Cash paid to suppliers and employees
- 6,000,000.00 Income taxes paid
- 400,000.00 Net Cash Inflows under operating activities
 - 300,000.00
der operating activities 3,000,000.00 Investing
Proceeds from long term investments
from long term investments 2,000,000.00 Interest Received
Dividend received
Net Cash inflows under Investing
Financing
from issuing shares 1,500,000.00 Proceeds from issuing shares
- 1,000,000.00 Interest paid on Long Term Debt
der financing 500,000.00 Net Cash inflows under financing

5,500,000.00
1,800,000.00
7,300,000.00
 Option 2

- 1,000,000.00
9,000,000.00
- 6,000,000.00
- 300,000.00
1,700,000.00
 2,000,000.00
200,000.00
500,000.00
2,700,000.00

1,500,000.00
- 400,000.00
1,100,000.00

5,500,000.00
1,800,000.00
7,300,000.00