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    QUIZ Fabm (Financial Statements)

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    Eryn Gabrielle

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    © All Rights Reserved
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    QUIZ Fabm (Financial Statements)

    Uploaded by

    Eryn Gabrielle
    6 views1 page

    Original Title

    QUIZ Fabm (financial statements)

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    Copyright:

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    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    6 views1 page

    QUIZ Fabm (Financial Statements)

    Uploaded by

    Eryn Gabrielle

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 1

    Entity A

    Statement of Financial Position Notes:


    As of December 31,20x1 Note 6
    ASSESTS ref. Amount Cash on hand 60,000
    Cash and Cash Equivalents 6 1,060,000 Cash in bank 1,000,000
    Trade and other receivables 7 1,770,000 Cash and Cash Equivalents 1,060,000
    Inventories 1,200,000
    Prepaid insurance 800,000 Note 7
    Total current assets 4,830,000 Accounts receivable 2,000,000
    Allowance for doutbtful accounts -300,000
    Noncurrent assets: Advances to employees 40,000
    Property, plant and equipment 8 3,600,000 Advances to suppliers 30,000
    Total noncurrent assets 3,600,000 Trade and other receivables 1,770,000

    TOTAL ASSETS 8,430,000 Note 8


    Land 2,200,000
    LIABILITIES AND EQUITY Accumulated depreciation- Bldg. -2,000,000
    Current liabilities: Building 3,400,000
    Trade and other payables 9 420,000 Property,Plant and Equipment 3,600,000
    Current tax liability 500,000
    Total current liabilities 920,000 Note 9
    Accounts Payable 720,00
    Noncurrent liabilities: Accured Liabilities 80,000
    Loans payable - net 10 3,870,000 Interest Payable 340,000
    Total noncurrent liabilities 3,870,000 Trade and other payables 420,000

    TOTAL LIABILTIES 4,790,000 Notes 10


    Loans Payable 3,000,000
    Equity: Discount on Loans Payable 870,000
    Owner's Capital 4,660,000 Loans Payable - net 3,870,000
    TOTAL EQUITY 3,640,000

    TOTAL LIABILITIES & EQUITY 8,430,000

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