Note 1- Trade and other receivables

Accounts receivable ₱800,000

Allowance for doubtful accounts (50000)
Total trade and other receivables ₱750,000

Note 2- Property, plant and equipment Cost Value Accumulated Depreciation Book Value
Land ₱500,000 - ₱500,000
Building ₱5,000,000 (₱2,000,000) ₱3,000,000
Machinery ₱3,000,000 (₱1,200,000) ₱1,800,000
Equipment ₱400,000 (₱100,000) ₱300,000
Total PPE (Book Value) ₱5,600,000

Note 3- Intangible assets

Trademark ₱150,000
Secret processes and formulas 200,000
Total long-term investments ₱350,000

Note 4- Trade and other payables

Accounts payable ₱350,000
Notes payable 750,000
Estimated liability for damages 140,000
Income tax payable 10,000
Accrued expenses 100,000
Total trade and other payables ₱1,350,000

Note 5- Reserves
Retained earnings appropriated for plant expansion ₱1,000,000
Retained earnings appropriated for contingencies 100,000
Share premium 300,000
Total share capital ₱1,400,000