Pauline Cedie B.

Marteja
BSA-3 (INTACC3)

1. Cash and cash equivalents

Cash in hand (petty cash) ₱ 15,000.00
Cash in Bank 1,900,000.00
Cash equivalents (90-day money market) 800,000.00
₱ 2,715,000.00

2. Trade and other receivables

Accounts receivable ₱ 122,000.00
Allowance for bad debts (30,000.00)
Notes receivable 8,000.00
₱ 100,000.00

3. Property, plant and equipment

Land ₱ 6,000,000.00
Building 10,000,000.00
Accumulated Depreciation- building (7,200,000.00)
Equipment 800,000.00
Accumulated Depreciation- equipment (250,000.00)
₱ 9,350,000.00

4. Intangible assets
Patent ₱ 350,000.00
Accumulated Depreciation- Patent (315,000.00)
Trademark 120,000.00
₱ 155,000.00

5. Trade and other payable

Accounts payable ₱ 100,000.00
Interest payable 65,000.00
Salaries payable 105,000.00
Utilities payable 8,000.00
Unearned Income 35,000.00
₱ 313,000.00

6. Current portion of long-term borrowing

Current portion (notes pay 50k due in 1yr) ₱ 50,000.00

7. Noncurrent portion of long-term borrowing

Noncurrent portion (1,450,000-50k) ₱ 1,400,000.00

8. Share Capital
 Share (given) ₱ 3,500,000.00

9. Retained Earnings
RE (given) ₱ 5,440,000.00

10. Other components of equity

Revaluation Surplus ₱ 260,000.00
Cumulative transition gain on foreign operation 357,000.00
₱ 617,000.00

ABC Company
Statement of Financial Position
As of December 31, 20x2
(amounts in Philippine Pesos)

Notes Amount
ASSETS
Current Assets
Cash and cash equivalent 1 ₱ 2,715,000.00
Trade and other receivable 2 100,000.00
Inventories 200,000.00
Total Current Assets 3,015,000.00

Noncurrent Assets
Property, plant and equipment 3 9,350,000.00
Intangible Assets 4 155,000.00
Total Noncurrent Assets 9,505,000.00

Total Assets ₱ 12,520,000.00

LIABILITIES AND EQUITY

Current Liabilities
Trade and other payable 5 ₱ 313,000.00
Short-term loan 200,000.00
Current tax payable 670,000.00
Current portion of long-term borrowings 6 50,000.00
Provision 260,000.00
Total Current Liabilities 1,493,000.00

Noncurrent Liabilities
Long-term borrowings 7 1,400,000.00
Deferred tax liability 70,000.00
Total Noncurrent Liabilities 1,470,000.00
Total Liabilities 2,963,000.00

EQUITY
Share Capital 8 3,500,000.00
Retined Earnings 9 5,440,000.00
Other components of equity 10 617,000.00
Total Equity 9,557,000.00

Total Liabilities and Equity ₱ 12,520,000.00

 ABC Company
Statement of Financial Position
As of December 31, 20x2
(amounts in Philippine Pesos)

Notes Amount
ASSETS
Current Assets
Cash and cash equivalent 1 ₱ 2,715,000.00
Trade and other receivable 2 100,000.00
Inventories 200,000.00
Total Current Assets 3,015,000.00

Noncurrent Assets
Property, plant and equipment 3 9,350,000.00
Intangible Assets 4 155,000.00
Total Noncurrent Assets 9,505,000.00

Total Assets ₱ 12,520,000.00

LIABILITIES AND EQUITY

Current Liabilities
Trade and other payable 5 ₱ 313,000.00
Short-term loan 200,000.00
Current tax payable 670,000.00
Current portion of long-term borrowings 6 50,000.00
Provision 260,000.00
Total Current Liabilities 1,493,000.00

Noncurrent Liabilities
Long-term borrowings 7 1,400,000.00
Deferred tax liability 70,000.00
Total Noncurrent Liabilities 1,470,000.00

Total Liabilities 2,963,000.00

EQUITY
Share Capital 8 3,500,000.00
Retined Earnings 9 5,440,000.00
Other components of equity 10 617,000.00
Total Equity 9,557,000.00

Total Liabilities and Equity ₱ 12,520,000.00