MR.

BEAN’S GROCERY STORE

ASSETS
Current Assets
Cash…………………………………………………………………………………………P 50,000
Accounts Receivable………………………………………………………………………P 75,000
Merchandise Inventory……………………………………………………………………P 30, 000
Prepaid Rent……………………………………………………………………………….P 12, 000
Total Current Asset………………………………………………………………………P 167, 000
Non-Current Asset
Furniture…………………………………………………………………………………..P 100, 000

Total Assets………………………………………………………………………………P 267, 000

LIABILITIES AND OWNER’S EQUITY

Current Liabilities
Accounts Payable…………………………………………………………………………P 25, 000
SSS, PhilHealth and Pag-Ibig Payables………………………………………………....P 5, 000
Utilities Payable……………………………………………………………………………..P 3, 000
Total Current Liabilities………………………………………………………………...…P 33, 000
Non-Current Liability
Loans Payable……………………………………………………………………………..P 50, 000

Total Liabilities……………………………………………………………………………..P 88, 000

Owner’s Equity……………………………………………………………………………P 179, 000

Total Liabilities and Owner’s Equity……………………………………………………P 267, 000