Bhiee Co.

Statement of Financial Position

As of December 31, 2019
Assets Notes
Cash and Cash Equivalents PHP 2,120,000
Trade and other receivables 1 PHP 3,540,000
Inventory PHP 2,400,000
Prepaid assets PHP 1,600,000
Total Current Assets PHP 9,660,000
Property, Plant, And Equipment 1 PHP 7,200,000
Total noncurrent Assets PHP 7,200,000
Total Assets 2 PHP 16,860,000

Liabilities
Trade and other payables 3 PHP 3,280,000
Short-term borrowings - -
Current portion of long-term - -
borrowings
Total current liabilities 3 PHP 3,280,000
Long term borrowings 1 PHP 4,260,000
Total noncurrent borrowings PHP 4,260,000
Total Liabilities 4 PHP 7,540,000

Equity
Owners’ capital 1 PHP 9,320,000
Total liabilities and equity 5 PHP 16,860,000
 Bhiee Co.
Statement of Comprehensive Income
For the period ended December 31, 20x1
Cash Flows from operating activities
Cash receipts from sale of goods Php 1,160,000
Cash paid for purchases of inventory Php ( 240,000 )
Cash paid for salary expenses Php ( 280,000 )
Cash paid for rent expenses Php ( 140,000 )
Cash paid for utility expenses Php ( 40,000 )
Net Cash from Operating Activities Php 460,000

Cash Flows from Investing Activities

Cash paid for the acquisition of equipment Php ( 400,000 )
Net Cash used in Investing Activities Php ( 400,000 )

Cash Flows from Financing Activities

Cash proceeds from loan borrowed Php 360,000
Cash proceeds from investment by owner Php 40,000
Cash payments to owner Php ( 120,000 )
Net Cash used in Financing Activities Php 280,000

Net increase in cash Php 340,000

Cash, beginning, balance Php 40,000
Cash ending, balance Php 380,000