In order to properly compute for the four questions, we should first scrutinize each

components in each categories. See below reclassifications made to properly reflect the
accounts under each categories.

  Current   Noncurrent assets   Curre   Noncurr   Total shareholder’s equity

assets nt ent
liabilit liabilitie
ies s

  Current   Long- Property Intangi Other   Current   Long   Contribu Unrealiz Retaine Treasur
assets term and ble assets liabiliti term ted ed d y shares
investme Equipm assets es liabilities capital capital Earning
nts ent s

  ₱   ₱ ₱ ₱ ₱   ₱   ₱   ₱ ₱ ₱  
44,300.0 13,600.0 123,500. 7,700.0 13,600. 66,600. 24,100.0 17,000.0 22,500.0 72,500.0
0 0 00 0 00 00 0 0 0 0
Notes ₱         ₱                  
receivable (10,000. 10,000.
- consider 00) 00
ed NCA
due to its
maturity
date
Land ₱     ₱                      
- consider (12,000. 12,000.0
ed NCA 00) 0
Inventori ₱     ₱                      
es 30,500.0 (30,500.
- consider 0 00)
ed CA
since they
are used
in the
main
operation
s of the
business
Treasury         ₱                   ₱
shares (1,800. (1,800.
- not an 00) 00)
intangible
asset but
should be
a
deduction
to total
SHE
Prepaid ₱         ₱                  
insurance 2,900.00 (2,900.
- CA 00)
since it is
expected
to be
utilized in
the next
year after
the
reporting
period
Trademar         ₱ ₱                  
ks 3,700.0 (3,700.
- reclass 0 00)
with no
effect in
the total
NCA
balance;
better
presentati
on is to
be under
Intangible
assets
Accrued               ₱   ₱          
wages 4,100.0 (4,100.0
0 0)
Mortgage               ₱   ₱          
payable 4,000.0 (4,000.0
due on 0 0)
12/31/202
2 - 1st
annual
payment
should be
reclassifie
d as CL
since it is
expected
to be
settled
within
1yr after
the
reporting
period
while the
balance
will
remain in
NCL.
Premiums               ₱         ₱    
on bonds 4,300.0 (4,300.0
payable 0 0)
- should b
e
included
in the
balance
of the
bonds
payable,
hence,
should be
reclassifie
d to CL.
Premium                       ₱ ₱    
of 2,400.00 (2,400.0
preferenc 0)
e shares
- reclass
with no
effect in
the total
SHE
balance.
Premium                       ₱ ₱    
on 14,700.0 (14,700.
ordinary 0 00)
shares
- reclass
with no
effect in
the total
SHE
balance.
Allowanc ₱                         ₱  
e for (700.00) (700.00)
doubtful
accounts
- pertaini
ng to AR
Accumul       ₱                   ₱  
ated (21,000. (21,000.
depreciati 00) 00)
on -
Bldgs
Accumul       ₱                   ₱  
ated (13,000. (13,000.
depreciati 00) 00)
on -
Eqpmnt

  ₱   ₱ ₱ ₱ ₱   ₱   ₱   ₱ ₱ ₱ ₱
55,000.0 13,600.0 71,000.0 9,600.0 17,000. 79,000. 16,000.0 34,100.0 1,100.00 37,800.0 (1,800.
0 0 0 0 00 00 0 0 0 00)

17. Current assets   ₱ 55,000.00          

  Noncurrent   ₱ 111,200.00   Total assets ₱ 166,200.00   ₱ 166,200.00
assets
18. Current   ₱ 79,000.00          
liabilities
19. Noncurrent   ₱ 16,000.00   Total Liabilities ₱ 95,000.00    
liabilities
20. Total   ₱ 71,200.00   Total ₱ 71,200.00   ₱ 166,200.00
shareholder’s shareholder’s
equity equity