SAMPLAR COMPANY

Statement of Financial Position

December 31, 2016

ASSETS LIABILITIES AND EQUITY

Current assets: Current liabilities:
Cash and cash equivalents 500,000 Trade and other payables 750,000
Financial assets at fair value 200,000 Note payable- short-term
Trade and other receivables 700,000 debt 400,000
Inventories 900,000 Current portion bonds
Prepaid expenses 50,000 payable 200,000
Total current assets 2,350,000 Warranty liability 50,000
Total current liabilities 1,400,000

Noncurrent assets: Noncurrent liabilities:

Property, plant, and Bonds payable-remaining
equipment 5,000,000 portion 1,800,000
Investment in associates 1,000,000 Note payable-due July1,
Long-term investments 5,100,000 2018 600,000
Intangible assets 2,000,000 Deffered tax liability 100,000
Other noncurrent assets 100,000 Total noncurrent
Total noncurrent assets 13,200,000 liabilities 2,500,000

Equity:
Share capital, P100 par 5,000,000
Reserves 3,000,000
Retained earnings 3,650,000
Total equity 11,650,000

Total assets 15,550,000 Total liabilities and equity 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, 2016
and due March 1, 2017 150,000
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
Manufacturing supplies 50,000
Total inventories 900,000

Note 4- Prepaid expenses

Office supplies unused 30,000

Prepaid insurance 20,000
Total prepaid expense 50,000
Note 5- Property, plant, 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
Furniture and fixtures 150,000

Total accumulated depreciation 2,400,000

Note 6- Long-term investments

Plants expansion fund 2,000,000

Financial assets at amortized cost 3,000,000
Cash surrender value 100,000
Total other long-term investments 5,100,000

Note 7- Intangible assets

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 earrings appropriated for contingencies 1,000,000
Total reserves 3,000,000
Illustrator - report form

SAMPLAR COMPANY
Statement of Financial Position
December 31, 2016

ASSETS

Note
Current assets:
Cash and cash equivalents (1) 500,000
Financial assets at fair value 200,000
Trade and other receivables (2) 700,000
Inventories (3) 900,000
Prepaid expenses (4) 50,000
Total current assets 2,350,000

Noncurrent assets:
Property, plant and equipment (5) 5,000,000
Investment in associate, at equity 1,000,000
Long-term investment (6) 5,100,000
Intangible assets (7) 2,000,000
Other noncurrent assets (8) 100,000
Total noncurrent assets 13,200,000
Total assets 15,550,000

LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities:
Trade and other payables (9) 750,000
Note payable-short-term debt 400,000
Current portion of bonds payable 200,000
Warrant liability 50,000
Total current liabilities 1,400,000
Noncurrent liabilities
Bonds payable- remaining portion 1,800,000

Note payable- due July 1, 2018 600,000

Deffered tax liability 100,000

Total noncurrent liabilities 2,500,000

Shareholders' equity

Share capital, P100 par 5,000,000

Reserves (10) 3,000,000

Retained earnings 3,650,000

Total shareholders' equity 11,650,000

Total liabilities and shareholders' equity 15,550,000

Source: Volume Three: Financial Accounting 2016 Edition

Conrado T. Valix

Jose F. Peralta

Christian Aris M. Valix