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    Morning Co

    Uploaded by

    Keahlyn Boticario
    The Morning Co.'s statement of financial position as of December 31, 20x1 shows total assets of PHP 10,930,000 consisting of current assets of PHP 4,830,000 including cash, receivables, inventory and held for trading assets, and non-current assets of PHP 6,100,000 including property, plant and equipment, investments and investment property. Total liabilities are PHP 4,630,000 consisting of current liabilities of PHP 2,070,000 including payables, tax and provisions, and non-current liabilities of PHP 2,560,000 including long-term borrowings and deferred tax. Total equity is PHP 6,300,000 consisting of share capital, share premium

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    Morning Co

    Uploaded by

    Keahlyn Boticario
    592 views3 pages
    The Morning Co.'s statement of financial position as of December 31, 20x1 shows total assets of PHP 10,930,000 consisting of current assets of PHP 4,830,000 including cash, receivables, inventory and held for trading assets, and non-current assets of PHP 6,100,000 including property, plant and equipment, investments and investment property. Total liabilities are PHP 4,630,000 consisting of current liabilities of PHP 2,070,000 including payables, tax and provisions, and non-current liabilities of PHP 2,560,000 including long-term borrowings and deferred tax. Total equity is PHP 6,300,000 consisting of share capital, share premium

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    The Morning Co.'s statement of financial position as of December 31, 20x1 shows total assets of PHP 10,930,000 consisting of current assets of PHP 4,830,000 including cash, receivables, inventory and held for trading assets, and non-current assets of PHP 6,100,000 including property, plant and equipment, investments and investment property. Total liabilities are PHP 4,630,000 consisting of current liabilities of PHP 2,070,000 including payables, tax and provisions, and non-current liabilities of PHP 2,560,000 including long-term borrowings and deferred tax. Total equity is PHP 6,300,000 consisting of share capital, share premium

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    592 views3 pages

    Morning Co

    Uploaded by

    Keahlyn Boticario
    The Morning Co.'s statement of financial position as of December 31, 20x1 shows total assets of PHP 10,930,000 consisting of current assets of PHP 4,830,000 including cash, receivables, inventory and held for trading assets, and non-current assets of PHP 6,100,000 including property, plant and equipment, investments and investment property. Total liabilities are PHP 4,630,000 consisting of current liabilities of PHP 2,070,000 including payables, tax and provisions, and non-current liabilities of PHP 2,560,000 including long-term borrowings and deferred tax. Total equity is PHP 6,300,000 consisting of share capital, share premium

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Morning Co.

    Statement of financial position


    As of December 31,20x1
    (in Philippine Pesos)

    Assets Notes
    Current Assets
    Cash 6 1060000
    Trade and other receivables 7 1770000
    Inventory 1200000
    Held for trading 800000
    TOTAL CURRENT ASSETS 4830000

    Non-current Assets
    Property, Plant and Equipment 8 4900000
    Investment in equity securities-
    FVOCI 300000
    Investment Property 900000
    TOTAL NON-CURRENT ASSETS 6100000
    1093000
    TOTAL ASSETS 0

    Liabilities
    Current Liabilities
    Trade and other payables 9 1140000
    Current tax payable 500000
    Provision 430000
    TOTAL CURRENT LIABILITIES 2070000

    Non-current liabilities
    Long-term borrowings 10 2260000
    Deferred tax liability 300000
    TOTAL NON-CURRENT LIABILITY 2560000
    TOTAL LIABILITIES 4630000

    Equity
    Ordinary Share Capital 4000000
    Share premium 600000
    Retained Earnings 1640000
    Other Components of equity 11 60000
    TOTAL EQUITY 6300000
    1093000
    TOTAL LIABILITIES AND EQUITY 0

    Note 6

    Cash on hand 60000


    100000
    Cash in bank 0
    106000
    Cash 0

    Note 7
    200000
    Accounts receivable 0

    Allow. For doubtful accts. -300000

    Advances to employee 40000

    Advances to suppliers 30000


    177000
    Trade and other receivables 0

    Note 8
    220000
    Land 0
    340000
    Building 0

    Accum. Dep.-B -700000


    Property,plant and 490000
    equipment 0

    Note 9

    Accounts payable 720000

    Accrued liabilities 80000

    Interest payable 340000


    114000
    Trade and other payable 0
    Note 10
    300000
    Loans payable 0

    Discount on loan payable -740000


    226000
    Net 0

    Note 11
    Revaluation
    Surplus 90000

    Translation loss -30000

    Other components of equity 60000

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