Prepare the SFP of a Single Proprietorship

ABM_FABM12-Ia-b-3
Presented to:
Mr. Cesar Legaspi
Adviser – ABM Class A
 1. Azor, Merlita z. 10.libut, aira ruth d.
2. Bantugan, lyda v. 11. ludovico, maxima b.
3. Belen, rose Sharon c. 12. matawaran, alma c.
4. Bruzo, rodelyn o. 13. mina, Thelma f.
5. Cruz, edna l. 14. pendon, Melanie m.
6. Dizon, charina c. 15. serrano, arjay o.
7. Fernandez, febe l. 16. valdez, Virginia z.
8. Garcia, maria luisa c. 17. viray, mercedita e.
9. Jimenez, mary jane c.

MTOT - ABM Class A Applied Economics

 GET ¼ SHEET OF PAPER

List down your

current savings and
everything that you
own(with respective
amount).

MTOT - ABM Class A Applied Economics

 After that, write
down the amount
that you owe from
your friends,
family members,
or parents

MTOT - ABM Class A Applied Economics

 Deduct the
amount of
you owe
from the
amount you
own.

MTOT - ABM Class A Applied Economics

MTOT - ABM Class A Applied Economics
MTOT - ABM Class A Applied Economics
PREPARING SFP OF A SINGLE PROPRIETORSHIP

The Balance Sheet of statement

of financial position of a
business, including a sole
proprietorship, at a specific
point in time.

MTOT - ABM Class A

PREPARING SFP OF A SINGLE PROPRIETORSHIP

The financial position of a sole

proprietorship is shown by the
amount of the assets held, it’s
liabilities and the amount of the
owner’s capital.

MTOT - ABM Class A

PREPARING SFP OF A SINGLE PROPRIETORSHIP

The balance sheet of a sole

proprietorship indicates the
name of the business, the name
of the stamen and the date of
the statement. It can be drawn
on horizontal or vertical format.

MTOT - ABM Class A

MTOT - ABM Class A Applied Economics
MTOT - ABM Class A
MTOT - ABM Class A
MTOT - ABM Class A Applied Economics
 Group activity

Prepare the statement of financial position.

Cash 5,000
Loan Payable 77,500
Accounts Receivable 2,600
Supplies 2,300
Equipment 17,000
Owner’s Equity 40,000
Accounts Payable 22,400
Building 113,000

MTOT - ABM Class A Applied Economics

 Individual activity
Presented below are accounts of Moonlight Company for year ended Dec 31, 2017.
Prepare the statement of financial position.
Cash P89,000
Accounts Receivable 38,600
Allowance for Bad Debts 1,600
Accrued Income 15,000
Merchandise Inventory 50,000
Prepaid Rent 30,000
Supplies 5,000
Equipment 45,000
Accum. Depreciation Equipment 3,000
Furniture and Fixture 30,000
Accounts Payable 22,000
Taxes Payable 8,000
Accrued Expenses 3,000
Mortgage Payable 180,000
Loan Payable 70,000

MTOT - ABM Class A Applied Economics

 ADDITIONAL ACTIVITIES
Answer the following questions:

1. If assets are P17,000 and owner’s equity is P10,000, Liabilities

are __________.
2. Company’s total liabilities and equity amounted to P285,000.
Total assets ended at P85,000. Cash totalled P50,000. Inventory is
P100,000 . Assuming there are no other assets, how much is the
Accounts Receivable?
3. Happy Selling had the following accounts at the end of the
year :
Cash P250,000
Accounts Payable 70,000
Prepaid Expense
15,000
Compute for company’s total assets.

MTOT - ABM Class A

 ASSIGNMENT
The following were taken from the books of Amihan Company Dec 31, 2017:

Long-term payable 500,000

Notes Payable 120,000
Property, Plant and Equipment
750,000
Accounts Receivable 56,000
Accounts Payable 65,000
Accumulated Depreciation 100,000
Cash 77,000
Owner’s Capital ?
Unearned Income 15,345
Notes Receivable 244,000
Prepaid Expense 56,700
Accrued Expense 37,890
Inventory 157,840
Intangible Assets 124,500

MTOT - ABM Class A Applied Economics

Requirements:
1.Based on the above set of accounts, identify all the accounts
with normal debit balances. Compute the total amount of all
accounts with debit balances.

2..Based on the above set of accounts, identify all the accounts

with normal credit balances. Compute the total amount of all
accounts with credit balances.

3. Prepare Statement of Financial Position of Amihan Company

during the year end.

MTOT - ABM Class A Applied Economics