Note 5: PPE: Acc. Dep. Book Value Acquisition Cost

Cash in Bank 2,400,000
Accounts Receivable 2,260,000

Factory Supplies 50,000
Unused Office Supplies 30,000
Petty Cash Fund 20,000
Prepaid Rent 20,000
Finished Goods 1,780,000
Notes Receivable 800,000
Allowance For Doubtful Accounts -100,000
Raw Materials 320,000
Cash on Hand 80,000
Accrued Interest on Notes Receivable 40,000
Goods in Process 450,000
The following information are the disclosed items from the

given example in your module "Proforma Entry for Non-
Current Assets"
Prepare section using
a Computational Notesline
toitem
SFP. presentation.
Take note that all
discloses accoutns are given in random order. Classify them
according to the given line item in the Non-Current Assets
section except for the PPE
Long Term Advances ot Officers 400,000
Goodwill 1,700,000
Plant Expnasion Fund 2,500,000
Long-Term Refundable Deposits 100,000
Sinking Funds 2,000,000
Patents 800,000
Copyrights 500,000
Investment in Bonds 1,500,000
Acquisition
Cost Acc. Dep. Book Value
Note 5: PPE
Land 4,500,000 0 4,500,000
Building 8,000,000 3,200,000 4,800,000
Machinery 5,000,000 2,800,000 2,200,000
Office Equipment 1,000,000 500,000 500,000
Total 12,000,000
For the SFP of Kurapika Conglomerates - Asset Section

CURRENT ASSETS NOTES
Cash and Cash Equivalent 1
Trading Securities
Trade and Other Receivables 2
Inventories 3
Prepaid Expenses 4
TOTAL CURRENT ASSETS
NON-CURRENT ASSETS
PPE 5
Long-Term Investment 6
Intangible Assets 7
Other Non-Current Assets 8
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS
The following infromation are the disclosed items from the

given example in your module SFP "Proforma Entry for
Liability and Equity Section" line item presentation
Prepare the Computational Note to SFP. Take note that all

discloses accoutns are given in random order. Classify them
according to the given line item in the Liability and Equity
Section
Accounts Payable 1,200,000
Common Shares, P100 par, 100,000
authorized and outstanding 6,000,000
Income Tax Payable 60,000
Share Premium 2,000,000
Retained Earnings Appropriated for
Contingencies 2,000,000
Notes Payable 1,000,000
8% Preferred Shares, P100 par, 50,000
issued and outstanding 3,000,000
Accrued Expenses 40,000
Retained Earnings Appropriated for Plant
Expansion 4,000,000
Additional information:
Trading Securities (CA) 1,000,000
Short-term Bank Loans (CL) 1,000,000
Warranty Payable (CL) 100,000
Bonds Payable (NCL) 5,000,000
Deffered Tax Payable (NCL) 150,000
Retained Earnings 5,100,000
KURAPIKA CONGLOMERATES
STATEMENT OF FINANCIAL POSITION
FYE DECEMBER 31, 2019
CURRENT ASSETS NOTES

Cash and Cash Equivalent 1 2,500,000
Trading Securities 1,000,000
Trade and Other Receivables 2 3,000,000
Inventories 3 2,600,000
Prepaid Expenses 4 50,000
TOTAL CURRENT ASSETS 9,150,000
NON-CURRENT ASSETS
PPE 5 12,000,000
Long-Term Investment 6 6,000,000
Intangible Assets
7 3,000,000
Other Non-Current Assets 8 500,000

TOTAL NON-CURRENT ASSETS 21,500,000
TOTAL ASSETS 30,650,000
NOTE 1: Cash and Cash Equivalent

Cash on Hand 80,000
Cash on Bank 2,400,000
Petty Cash Fund 20,000
Total 2,500,000
NOTE 2: Trade and Other Receivables

Accounts Receivable 2,260,000
Less: Allowance For Doubtful Accounts 100,000 2,160,000
Notes Receivable 800,000
Accrued Interest on Notes Receivable 40000 840,000
Total 3,000,000
NOTE 3: Inventories
Finishes Goods 1,780,000
Goods in Process 450,000
Raw Materials 320,000
Factory Supplies 50,000
Total 2,600,000
NOTE 4: Prepaid Expenses
Unused Office Supplies 30,000
Prepaid Rent 20,000
Total 50,000
NOTE 6: Long-Term Investment

Sinking Fund 2,000,000
Plant Expansion Fund 2,500,000
Investment in Bonds 1,500,000
Total 6,000,000
NOTE 7: Intangibles
Copyrights 500,000
Patents 800,000
Goodwill 1,700,000
Total 3,000,000
NOTE 8: Other Non-Current Assets

Long-term Advances to Officers 400,000
Long-term Refundable Deposits 100,000
Total 500,000
LOMERATES
NCIAL POSITION MEMBERS
R 31, 2019 ANDRA, Sittie Aleah C.
CAMANTIGUE, Frinzes Andrea A.
CURRENT LIABILITIES NOTE CORDERO, Rei Kemuel S.
Trade and Other Payables 9 2,300,000 DEL MONTE, Aiyal T.
Short-term Bank Loans 1,000,000 DEL VALLE, Rowen Alexis B.
Warranty Payable 100,000
TOTAL CURRENT LIABILITIES 3,400,000
NON-CURRENT LIABILITIES
Bonds Payable 5,000,000
Deferred Tax Liabilities 150,000
TOTAL NON-CURRENT LIABILITIES 5,150,000
TOTAL LIABILITIES 8,550,000
STOCKHOLDER'S EQUITY
Share Capital 10 9,000,000

Reserves 11 8,000,000
Retained Earnings 5,100,000
TOTAL SHAREHOLERS' EQUITY 22,100,000
TOTAL LIABILITIES AND SE 30,650,000
NOTE 9: Trade and Other Payables

Accounts Payables 1,200,000
Notes Payable 1,000,000
Income Tax Payable 60,000

Accrued Expenses 40,000
Total 2,300,000
NOTE 10: Share Capital

Ordinary Share 6,000,000
Preferred Share 3,000,000
Total 9,000,000
NOTE 11: Reserves

Share Premium 2,000,000
RE for Plant Expansion 2,000,000
RE for Contingencies 4,000,000
Total 8,000,000

Note 5: PPE: Acc. Dep. Book Value Acquisition Cost

Uploaded by

Copyright:

Available Formats

Note 5: PPE: Acc. Dep. Book Value Acquisition Cost

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Note 5: PPE: Acc. Dep. Book Value Acquisition Cost

Uploaded by

Copyright:

Available Formats

Cash in Bank 2,400,000

Accounts Receivable 2,260,000

The following information are the disclosed items from the

For the SFP of Kurapika Conglomerates - Asset Section

The following infromation are the disclosed items from the

Prepare the Computational Note to SFP. Take note that all

CURRENT ASSETS NOTES

Other Non-Current Assets 8 500,000

NOTE 1: Cash and Cash Equivalent

NOTE 2: Trade and Other Receivables

NOTE 6: Long-Term Investment

Plant Expansion Fund 2,500,000

Investment in Bonds 1,500,000

NOTE 8: Other Non-Current Assets

Share Capital 10 9,000,000

NOTE 9: Trade and Other Payables

Income Tax Payable 60,000

NOTE 10: Share Capital

NOTE 11: Reserves

You might also like