Note 1- Cash and cash equivalents

Cash on hand ₱50,000

Cash in bank 650,000
Total cash and cash equivalents ₱700,000

Note 2- Trade and other receivables

Accounts receivable, net of allowance for doubtful accounts ₱600,000
Accrued interest receivable 30,000
Notes receivable ₱200,000
Total trade and other receivables ₱830,000

Cost Book
Note 3- Property, plant and equipment Value Accumulated Depreciation Value
₱1,000,00
Land 0 - ₱1,000,000
₱5,500,00
Building 0 (₱2,500,000) ₱3,000,000
Investment property ₱700,000 - ₱700,000
₱2,400,00
Furniture and equipment 0 (₱900,000) ₱1,500,000
Total PPE (Book Value) ₱6,200,000

Note 4- Trade and other payables

Accounts payable ₱1,000,000
Notes payable 850,000
Accrued taxes 50,000
Other accrued liabilities 150,000
Total trade and other payables ₱2,050,000

Note 5- Share capital

Authorized share capital ₱5,000,000
Unissued share capital (2,000,000)
Subscribed share capital 1,000,000
Share subscription receivable (500,000)
₱3,500,000

Note 6- Reserves
Retained earnings appropriated for contingencies 200,000
Share premium 300,000
Total share capital ₱500,000