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BalanceSheet-5

As of July 31, 2023, AMG Merchandizing has total assets of PHP 5,549,000, which includes current assets of PHP 4,369,000 and long-term assets of PHP 1,180,000. The company's total liabilities amount to PHP 1,960,000, consisting of current and non-current liabilities. Shareholders' equity stands at PHP 3,589,000, reflecting a net income of PHP 589,000.

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Richard Mendoza
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5 views

BalanceSheet-5

As of July 31, 2023, AMG Merchandizing has total assets of PHP 5,549,000, which includes current assets of PHP 4,369,000 and long-term assets of PHP 1,180,000. The company's total liabilities amount to PHP 1,960,000, consisting of current and non-current liabilities. Shareholders' equity stands at PHP 3,589,000, reflecting a net income of PHP 589,000.

Uploaded by

Richard Mendoza
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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AMG Merchandizing

Balance Sheet
As of July 31, 2023

TOTAL
Assets
Current Assets
Accounts receivable
Accounts Receivable (A/R) 550,000.00
Total Accounts receivable PHP550,000.00
Cash and cash equivalents 2,384,000.00
Allowance for bad debt -10,000.00
Inventory Asset 1,310,000.00
Office Supplies 25,000.00
Prepaid Insurance 110,000.00
Total Current Assets PHP4,369,000.00
Long-term assets
Accumulated Depreciation-Equipment -20,000.00
Equipment 1,200,000.00
Total long-term assets 1,180,000.00
Total Assets PHP5,549,000.00

Liabilities and shareholder's equity


Current liabilities:
Accounts payable
Accounts Payable (A/P) 960,000.00
Total Accounts payable PHP960,000.00
Total current liabilities PHP960,000.00
Non-current liabilities:
Notes Payable- Bank 1,000,000.00
Total non-current liabilities PHP1,000,000.00
Shareholders' equity:
Net Income 589,000.00
Opening Balance Equity 0.00
Retained Earnings
Share capital 3,000,000.00
Total shareholders' equity PHP3,589,000.00
Total liabilities and equity PHP5,549,000.00

Accrual Basis Saturday, July 13, 2024 10:07 PM GMT+08:00 1/1

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