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  • CFAS G2

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    Harvey Adan
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    The statement summarizes Relax Company's financial position as of December 31, 2022. It lists current assets of ₱2,250,000 including cash, receivables, inventories, and prepaid expenses. Noncurrent assets total ₱7,250,000, consisting of property and equipment, an investment in an associate, and intangible assets. Total assets are ₱9,500,000. Current liabilities are ₱1,750,000 including payables and a mortgage note payable for the current portion. Noncurrent liabilities are ₱2,100,000 including a mortgage note payable and a banking payable. Total shareholders' equity is

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    Copy of CFAS G2

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    The statement summarizes Relax Company's financial position as of December 31, 2022. It lists current assets of ₱2,250,000 including cash, receivables, inventories, and prepaid expenses. Noncurrent assets total ₱7,250,000, consisting of property and equipment, an investment in an associate, and intangible assets. Total assets are ₱9,500,000. Current liabilities are ₱1,750,000 including payables and a mortgage note payable for the current portion. Noncurrent liabilities are ₱2,100,000 including a mortgage note payable and a banking payable. Total shareholders' equity is

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    © All Rights Reserved
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    4 views2 pages

    CFAS G2

    Uploaded by

    Harvey Adan
    The statement summarizes Relax Company's financial position as of December 31, 2022. It lists current assets of ₱2,250,000 including cash, receivables, inventories, and prepaid expenses. Noncurrent assets total ₱7,250,000, consisting of property and equipment, an investment in an associate, and intangible assets. Total assets are ₱9,500,000. Current liabilities are ₱1,750,000 including payables and a mortgage note payable for the current portion. Noncurrent liabilities are ₱2,100,000 including a mortgage note payable and a banking payable. Total shareholders' equity is

    Copyright:

    © All Rights Reserved
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    of 2

    RELAX COMPANY

    Statement of Financial Position


    As of December 31, 2022

    ASSETS

    Current assets: Note


    Cash
    Trade and other receivables 1
    Inventories
    Prepaid Expenses
    Total current assets

    Noncurrent assets:
    Property, plant, and equipment 2
    Investment in associate
    Intangible assets 3
    Total noncurrent assets
    Total Assets

    LIABILITIES AND SHAREHOLDERS' EQUITY

    Current Liabilities: Note


    Trade and other payables 4
    Mortage note payable- current portion
    Total Current Liabilities

    Noncurrent Liabilities:
    Mortage note payable- remaining portion
    Banking payable- due June 30, 2023
    Total Noncurrent Liabilities

    Shareholders' Equity:
    Share capital
    Share Premium
    Retained Earnings
    Total Shareholders' Equity
    Total Liabilities and Shareholders' Equity
    osition
    022

    400,000.00
    750,000.00
    1,000,000.00
    100,000.00
    ₱ 2,250,000.00

    5,600,000.00
    1,300,000.00
    350,000.00
    7,250,000.00
    ₱ 9,500,000.00

    ' EQUITY

    1,350,000.00
    400,000.00
    1,750,000.00

    1,600,000.00
    500,000.00
    2,100,000.00

    3,000,000.00
    300,000.00
    2,350,000.00
    5,650,000.00
    9,500,000.00 0.00

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