ELI TRADING

STATEMENT OF FINANCIAL POSITION

AS OF DECEMBER 31, 2019

Assets
Current Assets
Cash
Accounts Receivable
Notes Receivable
Inventories
Supplies
Total Current Assets
Noncurrent Assets
Property and Equipment
Total Assets

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable
Notes Payable
Total Current Liabilities
Noncurrent Liabilities
Long Term Debt
Total Liabilities
Owner's Equity
Total Liabilities and Owner's Equity
 HEADING

Php 500,000
70,000 CURRENT ASSETS
50,000
225,000
50,000
Php 895,000

Php 275,000 NON CURRENT ASSETS

1,170,000

CURRENT LIABILITIES
Php 50,000
50,000
100,000
NON CURRENT LIABILITIES
Php 150,000
Php 250,000
Php 920,000 OWNER'S EQUITY
Php 1,170,000
 ELI TRADING
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019

Assets
Current Assets
Cash Php 500,000
Accounts Receivable 70,000
Notes Receivable 50,000
Inventories 225,000
Supplies 50,000
Total Current Assets Php 895,000
Noncurrent Assets
Property and Equipment Php 275,000
Total Assets ###
HEADING

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable Php 50,000
CURRENT ASSETS Notes Payable 50,000
Total Current Liabilities 100,000
Noncurrent Liabilities
Long Term Debt Php 150,000
Total Liabilities Php 250,000
Owner's Equity Php 920,000
NON CURRENT ASSETS Total Liabilities and Owner's Equity Php 1,170,000
CURRENT LIABILITIES

NON CURRENT LIABILITIES

OWNER'S EQUITY
 LOUISE MARIE SERVICES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019
Assets
Current Assets
Cash Php 1,000,000
Accounts Receivable 140,000
Notes Receivable 100,000
Inventories 450,000
Supplies 100,000
Total Current Assets Php 1,790,000
Noncurrent Assets
Property and Equipment Php 550,000
Total Assets Php 2,340,000

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable Php 100,000
Notes Payable 100,000
Total Current Liabilities Php 200,000
Noncurrent Liabilities
Long Term Debt Php 300,000
Total Liabilities Php 500,000
Owner's Equity Php 1,840,000
Total Liabilities and Owner's Equity Php 2,340,000
HEADING

CURRENT ASSETS

NON CURRENT ASSETS

CURRENT LIABILITIES

NON CURRENT LIABILITIES

OWNER'S EQUITY
 LOUISE MARIE SERVICES
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 31, 2019
Assets
Current Assets
Cash Php 1,000,000
Accounts Receivable 140,000
Notes Receivable 100,000
Inventories 450,000
Supplies 100,000
Total Current Assets Php 1,790,000
Noncurrent Assets
Property and Equipment Php 550,000
Total Assets Php 2,340,000
HEADING

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable Php 100,000
CURRENT ASSETS Notes Payable 100,000
Total Current Liabilities Php 200,000
Noncurrent Liabilities
Long Term Debt Php 300,000
Total Liabilities Php 500,000
Owner's Equity Php 1,840,000
NON CURRENT ASSETS Total Liabilities and Owner's Equity Php 2,340,000
CURRENT LIABILITIES

NON CURRENT LIABILITIES

OWNER'S EQUITY
CASE 1 - ELI TRADING CASE 2 - LOUISE MARIE SERVICES

A. How much is the total current asset of the entity? A. How much is the total current asset o
Php 895,000

B. How much is the total non-current asset of the entity? B. How much is the total non-current as
Php 275,000

C. How much is the total current liabilities of the entity? C. How much is the total current liabiliti
Php 100,000

D. How much is the total non-current liabilities of the entity? D. How much is the total non-current lia
Php 150,000

E. How much is the total assets of the entity? E. How much is the total assets of the en
Php 1,170,000
 LOUISE MARIE SERVICES

much is the total current asset of the entity?

Php 1,790,000

much is the total non-current asset of the entity?

Php 550,000

much is the total current liabilities of the entity?

Php 200,000

much is the total non-current liabilities of the entity?

Php 300,000

much is the total assets of the entity?

Php 2,340,000