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The Balance Sheet

The balance sheet shows the financial position of ATG Mini Grocery as of July 31, 2018. It lists current assets of P473,000 including cash, accounts receivable, and inventory. Non-current assets include P25,000 in furniture and fixtures. Total assets are P498,000. Liabilities include P158,900 in accounts payable. Owner's equity started at P250,000, increased by P94,100 in profit, decreased by P5,000 in drawings, and ended at P339,100. Total liabilities and owner's equity equal the total assets of P498,000.

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Sitti Sadalao
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111 views1 page

The Balance Sheet

The balance sheet shows the financial position of ATG Mini Grocery as of July 31, 2018. It lists current assets of P473,000 including cash, accounts receivable, and inventory. Non-current assets include P25,000 in furniture and fixtures. Total assets are P498,000. Liabilities include P158,900 in accounts payable. Owner's equity started at P250,000, increased by P94,100 in profit, decreased by P5,000 in drawings, and ended at P339,100. Total liabilities and owner's equity equal the total assets of P498,000.

Uploaded by

Sitti Sadalao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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The Balance Sheet

ATG Mini Grocery Report Form Account Form


Statement of Financial Position
As of July 31, 2018 ATG Mini Grocery
Statement of Financial Position
Assets As of July 31, 2018
Current Assets:
Cash on Hand P 403,000 Assets Liabilities
Accounts Receivable 60,000 Current Assets: Accounts Payable P 158,900
Merchandise Inventory, End 10,000 Cash on Hand P 403,000 Total Liabilities P 158,900
Total Current Assets P 473,000 Accounts Receivable 60,000
Merchandise Inventory, End 10,000 Owner’s Equity
Non-Current Assets Total Current Assets P 473,000 R. Lopez, Capital Beg. P 250,000
Furniture & Fixtures P 25,000 Add: Profit 94,100
Total Non-Current Assets P 25,000 Non-Current Assets Total P 344,100
Furniture & Fixtures P 25,000 Less: R. Lopez, Drawing 5,000
Total Assets P 498,000 Total Non-Current Assets P 25,000 R. Lopez, Capital, End P 339,100

Total Assets P 498,000 Total Liabilities & Owner’s Eq. P498,000

Liabilities
Accounts Payable P 158,900
Total Liabilities P 158,900

Owner’s Equity
R. Lopez, Capital, Beg. P 250,000
Add: Profit 94,100
Total P 344,100
Less: R. Lopez, Drawing 5,000
R. Lopez, Capital, End P 339,100

Total Liabilities & Owner’s Equity P 498,000

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