Friendship Company

Statement of Financial Position

As of December 31, 20x1

ASSETS
Current Assets: Note
Cash and Cash equivalents 5
Trade and other receivables 6
Allowance for doubtful accounts
Inventories 7
Prepayments 8
Held for trading securities
Interest receivable (due on March 1, 20x2)
Total Current Assets

Noncurrent Assets:
Loan receivable (due in 20x4)
Unearned interest income
Investment in equity securities - FVOCI
Investment in Associate
Property, plant and equipment 9
Deffered tax asset
Total Noncurrent Assets

Total Assets

LIABILITIES
Current Liabilities:
Accounts Payable
Accrued Liabilities
Income tax payable
Loans payable (due in 20x2)
Discount on loan payable
Interest payable (due on july 1, 20x2)
Provision for warranty obligations
Total Current Liabilities

Noncurrent Liabilities
Deffered tax liability
Deffered credits
Total Noncurrent Liabilities
Total Liabilities

SHAREHOLDER'S EQUITY
Ordinary share capital
Share premium
Retained earnings - unrestricted
Retained earnings - appropriated
Revaluation surplus
Unrealiazed gains on equity securities - FVOCI
Total Shareholder's equity

Total Liabilities and Shareholder's equity

 Note 5 - cash and cash equivalents
Cash on hand
₱21,204,875.00 Cash in bank - BPI (Savings)
₱42,171,400.00 Cash in bank - BPI (Current)
(₱1,735,910.00) Cash in bank - BDO (Current)
₱110,588,075.00 Cash and cash equivalents
₱5,621,820.00
₱14,170,395.00
₱4,730,065.00 Note 6 - Trade and other receivables
₱196,750,720.00 Accounts receivable
Advances to employees
Advances to suppliers
₱49,136,705.00 Trade and other receivable
(₱6,174,095.00)
₱4,936,170.00 Note 7 - Inventories
₱6,451,735.00 Raw materials inventory
₱61,854,800.00 Work in process inventory
₱5,461,935.00 Finished goods inventory
₱121,667,250.00 Inventories

₱318,417,970.00 Note 8 - Prepayments

Prepaid income tax
Prepaid supplies
Prepayments
₱45,356,195.00
₱4,448,560.00 Note 9 - Property, plant and equipment
₱3,606,730.00 Land
₱40,000,000.00 Building
(₱3,731,260.00) Accumulated depreciation - bldg.
₱1,708,910.00 Equipment
₱2,160,935.00 Accumulated depreciation - equipt.
₱93,550,070.00 Property, pant and equipment

₱4,593,660.00
₱3,563,940.00
₱8,157,600.00 Current Assets
 Current Liabilities
₱101,707,670.00 Working Capital:

₱100,000,000.00
₱30,000,000.00
₱75,723,320.00
₱6,000,000.00
₱4,369,920.00
₱617,060.00
₱216,710,300.00

₱318,417,970.00
 ₱311,750.00
₱8,602,500.00
₱9,451,170.00
₱2,839,455.00
₱21,204,875.00

₱41,708,445.00
₱288,050.00
₱174,905.00
₱42,171,400.00

₱6,186,990.00
₱39,939,540.00
₱64,461,545.00
₱110,588,075.00

₱1,170,625.00
₱4,451,195.00
₱5,621,820.00

₱44,903,755.00
₱17,099,385.00
(₱3,564,650.00)
₱4,586,935.00
(₱1,170,625.00)
₱61,854,800.00

₱196,750,720.00
Current Liabilities (₱93,550,070.00)
₱103,200,650.00