Current Assets:

Noncurrent Assets:
TOTAL ASSETS
Current Liabilities:
Noncurrent Liabilities:
Shareholders Equity:
Total liabilities and shareholders equity
SAMPLAR COMPANY
Statement of Financial Position
December 31,2013
ASSETS
Note
Cash and Cash Equivalents 1
Financial Assets @ Fair value
Trade and other receivables 2
Inventories 3
Prepaid Expenses 4
Total Current Assets
Property, plant and equipment 5
Investment in associate, at equity
Long-term investments 6
Intangible assets 7
Other noncurrent assets 8
Total noncurrent assets
LIABILITIES AND SHAREHOLDERS EQUITY
Trade and other payables 9
Note payable - short term debt
Current portion of bonds payable
Warranty liability
Total current liabilities
Bonds payable - remaining portion
Note payable - due July 1, 2015
Deferred tax liability
Total noncurrent liabilities
Share Capital, P100 par
Reserves 10
Retained Earnings
Total shareholders equity
500,000
200,000
700,000
900,000
50,000
2,350,000
5,000,000
1,000,000
5,100,000
2,000,000
100,000
13,200,000
15,550,000
750,000
400,000
200,000
50,000
1,400,000
1,800,000
600,000
100,000
2,500,000
5,000,000
3,000,000
3,650,000
11,650,000
15,550,000
Current Assets:
Noncurrent Assets:
TOTAL ASSETS
Current Liabilities:
Noncurrent Liabilities:
Shareholders Equity:
Total liabilities and shareholders equity
SAMPLAR COMPANY
Statement of Financial Position
December 31,2013
ASSETS
Note
Cash and Cash Equivalents 1
Financial Assets @ Fair value
Trade and other receivables 2
Inventories 3
Prepaid Expenses 4
Total Current Assets
Property, plant and equipment 5
Investment in associate, at equity
Long-term investments 6
Intangible assets 7
Other noncurrent assets 8
Total noncurrent assets
LIABILITIES AND SHAREHOLDERS EQUITY
Trade and other payables 9
Note payable - short term debt
Current portion of bonds payable
Warranty liability
Total current liabilities
Bonds payable - remaining portion
Note payable - due July 1, 2015
Deferred tax liability
Total noncurrent liabilities
Share Capital, P100 par
Reserves 10
Retained Earnings
Total shareholders equity
500,000
200,000
700,000
900,000
50,000
2,350,000
5,000,000
1,000,000
5,100,000
2,000,000
100,000
13,200,000
15,550,000
750,000
400,000
200,000
50,000
1,400,000
1,800,000
600,000
100,000
2,500,000
5,000,000
3,000,000
3,650,000
11,650,000
15,550,000
Note 1 - Cash and cash equivalents
Cash on hand 40,000
Cash in bank 300,000
Petty cash fund 10,000
BSP Treasury bill, purchased on December 1, 2013 150,000
and due March 1, 2014
Total cash and cash equivalents 500,000
Note 2 - Trade and other receivables
Accounts receivable 580,000
Allowance for doubtful accounts (20,000)
Notes Receivable 100,000
Accrued interest on Notes receivable 10,000
Advances to employees, collectible currently 30,000
Total trade and other receivables 700,000
Note 3 - Inventories
Finished goods 300,000
Goods in process 400,000
Raw Materials 150,000
Manufacuturing supplies 50,000
Total Inventories 900,000
Note 4 - Prepaid Expenses
Office Supplies unused 30,000
Prepaid Insurance 20,000
Total Prepaid Expenses 50,000
Note 5 - Property, plant and Equipment
Land 1,500,000
Building 4,500,000
Machinery and equipment 1,000,000
Furniture and fixtures 300,000
Patterns, molds, dies and tools, net 100,000
Total 7,400,000
Accumulated depreciation (2,400,000)
Carrying amount 5,000,000
Accumulated depreciation:
Building 1,900,000
Machinery and equipment 350,000
Furnitures and fixtures 150,000
Total Accumulated depreciation 2,400,000
Note 6 - Long-term investments
Plant expansion fund 2,000,000
Financial assets @ amortized cost 3,000,000
Cash surrender value 100,000
Total other long-term investments 5,100,000
Note 7 - Intangibles
Patent 500,000
Trademark 1,500,000
Total intangible assets 2,000,000
Note 8 - Other noncurrent assets
Long-term refundable deposit 20,000
long-term advances to officers 80,000
Total other noncurrent assets 100,000
Note 9 - Trade and other payables
Accounts payable 350,000
Notes payable 150,000
Accrued interest on note payable 15,000
Income tax payable 50,000
dividends payable 100,000
accrued expenses 85,000
total trade and other payables 750,000
Note 10 - Reserves
Share premium 2,000,000
Retained Earnings - appropriated 1,000,000
total reserves 3,000,000
Simple Company
Statement of Financial Position
December 31,2013
Note
ASSETS
Current Assets:
Cash and Cash equivalents
Financial Assets @ fair value
Trade and other receivables 1
Inventories 2
Prepaid Expenses 3
Total current assets
Noncurrent Assets:
Property, plant and equipment 4
Long term investment 5
Intangible assets 6
Total noncurrent assets
TOTAL ASSETS
LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities:
Trade and other payables 7
Serial bonds payable - current portion
Total current liabilities
Noncurrent Liabilities:
Serial bonds payable - remaining portion
Shareholders Equity:
Share capital
Share premium
Retained Earnings
Total Shareholders equity
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
420,000
250,000
620,000
1,250,000
20,000
2,560,000
4,640,000
2,000,000
300,000
6,940,000
9,500,000
620,000
500,000
1,120,000
2,000,000
5,000,000
500,000
880,000
6,380,000
9,500,000
Note 1 - Trade and Other receivables
Accounts Receivable 500,000
Allowance for doubtful accounts (50,000)
Notes receivable 150,000
Claim receivable 20,000
Total Trade and other receivables 620,000
Note 2 - Inventories
Raw Materials 200,000
Goods in process 600,000
Finished Goods 400,000
Factory Supplies 50,000
Total Inventories 1,250,000
Note 3 - Prepaid Expenses
Prepaid Insurance 20,000
Note 4 - Property, plant and equipment
Land 1,500,000
Building 4,000,000
Machinery 2,000,000
Tools 40,000
Total 7,540,000
Accumulated depreciation (2,900,000)
Carrying Amount 4,640,000
Accumulated depreciation:
Building 1,600,000
Machinery 1,300,000
Total Accumulated depreciation 2,900,000
Note 5 - Long term investments
Financial Assets @ amortized cost 1,500,000
Plant expansion fund 500,000
Total 2,000,000
Note 6 - Intangible Assets
Franchise 200,000
Goodwill 100,000
Total 300,000
Note 7 - Trade and other payables
Accounts payable 300,000
Notes payable 100,000
Income tax payable 60,000
Accrued expenses 100,000
Advances from customers 30,000
Employees income tax payable 10,000
Accrued interest on note payable 20,000
Total 620,000
Exemplar Company
Statement of Financial Position
December 31,2013
Note
ASSETS
Current Assets:
Cash and cash equivalents
Financial assets held for trading
Trade and other receivables 1
Inventories
Prepaid expenses
Total Current Assets
Noncurrent Assets:
Property,plant and equipment 2
Long-term investments 3
Intangible assets 4
Other noncurrent assets 5
Total Noncurrent Assets
TOTAL ASSETS
LIABILITIES AND SHAREHOLDERS EQUITY
Current Liabilities:
Trade and other payables 6
Noncurrent Liabilities:
Bonds payable
Premium on bonds payable
Total Liabilities
Shareholders equity:
Share Capital 7
Reserves 8
Retained Earnings (deficit)
Total Shareholders equity
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY
500000
280000
640000
1300000
70000
2790000
5300000
1310000
3350000
150000
10110000
12900000
1000000
5000000
1000000
7000000
7000000
700000
(1,800,000)
5,900,000
12900000
Note 1 - Trade and Other receivables
Accounts Receivable 400000
Allowance for doubtful accounts -20000
Notes receivable 250000
Accrued interest on notes receivable 10000
Total 640000
Note 2 -Property, plant and equipment
Land 1500000
Building 5000000
Equipment 1000000
Total 7500000
Accumulated depreciation -2200000
Carrying Amount 5300000
Accumulated depreciation:
Building 2000000
equipment 200000
Total Accumulated depreciation 2200000
Note 3 - Long term investments
Land held for speculation 500000
Sinking fund 400000
Preference share redemption fund 350000
Cash surrender value 60000
Total 1310000
Note 4 - Intangible Assets
Computer software 3250000
Lease rights 100000
Total 3350000
Note 5 - Other Noncurrent Assets
Advances to officers 100000
Long-term refundable deposit 50000
Total 150000
Note 6 - Trade and other payables
Accounts payable 400000
Notes payable 300000
Unearned rent income 40000
SSS payable 10000
accrued salaries 100000
withholding tax payable 120000
dividends payable 30000
Total 1000000
Note 7 - Share Capital
Preference Share Capital 2000000
Ordinary Share Capital 5000000
Total 7000000
Note 8 - Reserves
Preference share premium 500000
Ordinary Share premium 200000
Total 700000