Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
C
15.
B
C
16.
B
B
17.
E
E
18.
A
A
19.
B
B
20.
F
E
21.
E
A
22.
B
D
23.
E
E
24.
A
C
25.
F
B
26.
B
A
27.
D
F (shown on the face of the statement of changes in equity)
3-1.
(GARNET COMPANY)
Garnet Company
Statement of Financial Position
December 31, 2012
Assets
Current assets
Cash and cash equivalents
Trading securities
Trade and other receivables
Inventory
Non-current assets
Property, plant and equipment
Investment property
Investments in associates
Intangibles
TOTAL ASSETS
Note
P
(5)
(6)
(7)
35,000
61,000
107,000
322,000
P1,483,000
1,000,000
250,000
141,000
P 525,000
2,874,000
P3,399,000
P 486,000
751,000
2,162,000
P3,399,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
Note 5 Trade and other receivables
Accounts receivable
Less allowance for bad debts
Net trade and other receivables
P115,000
8,000
P107,000
P 300,000
P1,440,000
530,000
P 624,000
351,000
Note 7 Intangibles
Patents
Less accumulated amortization
Trademarks
Less accumulated amortization
Total
P120,000
22,000
P 60,000
17,000
910,000
273,000
P1,483,000
P 98,000
43,000
P141,000
P236,000
20,000
80,000
P336,000
P 770,000
69,000
P701,000
P 210,000
1,300,000
24,000
P1,534,000
P 81,000
240,000
P321,000
P 45,000
262,000
P307,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
3-2.
(RUBY CORPORATION)
Ruby Corporation
Statement of Financial Position
December 31, 2012
Assets
Current assets
Cash and cash equivalents
Financial assets held for trading (Note 5)
Trade and other receivables (Note 6)
Inventories (Note 7)
Prepaid expenses
Non-current assets held for sale (Note 8)
Non-current assets
Property, plant and equipment (Note 9)
Other financial assets (Note 10)
Intangible assets (Note 11)
TOTAL ASSETS
P 116,000
160,000
308,000
985,000
31,000
210,000
P3,248,000
339,000
182,000
P1,810,000
3,769,000
P5,579,000
P 580,000
247,000
62,000
73,000
P 962,000
848,000
P2,028,000
537,000
1,204,000
3,769,000
P5,579,000
P323,000
15,000
P308,000
P416,000
347,000
222,000
P985,000
10
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
Note 8 Non-current assets held for sale
This classification represents a unit of machinery with carrying amount
of P240,000 and fair value less cost to sell of P210,000. The sale is
expected to be consummated in May 2013.
Note 9 Property, plant and equipment
Land
Land held for future use*
Buildings
Less accumulated depreciation
Machinery
Less accumulated depreciation
Equipment
Less accumulated depreciation
Total
P1,320,000
195,000
P1,824,000
622,000
P 319,000
106,000
P 530,000
212,000
1,202,000
213,000
318,000
P3,248,000
Land held for future use, which conventionally was classified as long-term investment,
is not qualified to be reported as Investment Property under par. 9 of IAS 40. Thus,
property held for future development and subsequent use as owner-occupied property
is part of property, plant and equipment.
Note 10 Other financial assets
Investment in XYZ bonds, at amortized cost
Cash surrender value of life insurance
Total
P250,000
89,000
P339,000
P200,000
18,000
P182,000
P800,000
48,000
P848,000
P 400,000
1,628,000
P2,028,000
P234,000
303,000
P537,000
11
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
3-3.
(DIAMOND COMPANY)
Diamond Company
Statement of Financial Position
December 31, 2012
Assets
Current assets
Cash
Financial assets at fair value through profit or loss
Trade and other receivables (Note 5)
Inventory
Prepaid expenses (Note 6)
Noncurrent assets
Property, plant and equipment (Note 7)
Financial assets at fair value through OCI
Intangible assets
Deferred tax asset
TOTAL ASSETS
P 230,000
320,000
510,000
600,000
130,000
P3,450,000
1,030,000
470,000
70,000
P1,790,000
5,020,000
P6,810,000
P1,390,000
90,000
P1,480,000
1,000,000
P1,200,000
1,040,000
2,300,000
4,540,000
(330,000)
120,000
P6,810,000
P590,000
80,000
P510,000
P 80,000
50,000
P130,000
12
P 810,000
P3,560,000
920,000
2,640,000
P3,450,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
3-4.
P 990,000
150,000
250,000
P1,390,000
P1,100,000
100,000
P1,000,000
(EMERALD COMPANY)
Emerald Company
Statement of Financial Position
December 31, 2012
Assets
Current assets
Cash
Trading securities
Trade and other receivables
Inventories
Prepaid expenses
Non-current asset held for sale
Noncurrent assets
Property, plant and equipment
Investment property
Other financial assets
Intangibles
TOTAL ASSETS
Note
(7)
P 380,000
485,000
2,780,000
450,000
290,000
1,200,000
(8)
(9)
(10)
(11)
P 5,600,000
2,900,000
1,600,000
960,000
(5)
(6)
P 5,585,000
11,060,000
P16,645,000
13
P 1,750,000
720,000
200,000
1,000,000
P 4,430,000
1,600,000
P 1,700,000
1,820,000
3,605,000
P 7,125,000
(180,000)
P 2,670,000
7,030,000
P 9,700,000
6,945,000
P16,645,000
P3,580,000
25,000
P3,605,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
Note 5 Trading securities
The trading securities, costing P460,000, are reported at market value.
Note 6 Trade and other receivables
Accounts receivable
Notes receivable (due July 1, 2013)
Allowance for uncollectible accounts
Net trade and other receivables
P1,850,000
1,000,000
(70,000)
P2,780,000
P1,400,000
P4,340,000
1,800,000
P2,960,000
1,300,000
2,540,000
1,660,000
P5,600,000
P1,200,000
P2,000,000
(300,000)
P 900,000
700,000
P1,600,000
P820,000
230,000
P520,000
150,000
1,700,000
P2,900,000
P 590,000
370,000
P 960,000
P 940,000
410,000
400,000
P1,750,000
P4,000,000
430,000
P4,430,000
14
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
Note 14 Share capital
Preference share capital
Ordinary share capital
Total
3-5.
3-6.
P 600,000
1,100,000
P1,700,000
(SAPPHIRE COMPANY)
Current assets consist of
Cash (1,240,000 500,000)
Securities held for trading
900,000 + 500,000+ (500,000 x 4.8% x 105/360)
Trade accounts receivable (net of P60,000 allowance for bad debts)
1,220,000 + 50,000 60,000
Notes receivable
Creditors account with debit balance
Merchandise inventory
Total current assets
1,210,000
920,000
100,000
1,360,000
P 5,737,000
1,000,000
50,000
1,200,000
500,000
125,000
280,000
40,000
P 3,195,000
P 740,000
1,407,000
(TURQUOISE COMPANY)
Current liabilities consist of
Accounts payable
Mortgage notes payable
Bank notes payable
Interest payable
VAT payable (2,688,000/1.12) x .12
Withholding tax payable
Income taxes payable (186,500 70,000)
Provision for damages
Total current liabilities
P 270,000
1,300,000
100,000
7,500
288,000
120,000
116,500
650,000
P2,852,000
Note: The entire amount of mortgage notes payable is classified as current liabilities
because as of December 31, 2012, the company has no discretion yet to refinance the
obligation on a long-term basis. The refinancing of the mortgage payable in 2013 is nonadjusting event that requires disclosure in the notes to the financial statements.
3-7.
(OPAL COMPANY)
Current assets consists of
Cash (400,000 + 20,000 - 30,000 + 25,000 + 540,000)
Accounts receivable (net) 800,000 + 30,000 150,000
Inventories (1,200,000 40,000)
Prepaid insurance (250,000 50,000)
Total current assets at December 31, 2010
15
P 955,000
680,000
1,160,000
200,000
P2,995,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
OR
Reported total current assets
Bank overdraft
Cash for purchase of plant site
Unreplenished petty cash expenses
Total current assets at December 31, 2010
3-8.
P4,580,000
20,000
(1,500,000)
(15,000)
P2,995,000
(AQUAMARINE COMPANY)
Reported totals
(a) Sinking fund cash
(b) Treasury shares
(c) Cash fund for taxes
(d) Advances and
commissions payable
(e) Provision for damages
Correct totals
Current
assets
P3,500,000
Non-current
assets
P8,000,000
380,000
(500,000)
Current
liabilities
P2,400,000
140,000
140,000
210,000
210,000
168,000*
P2,918,000
P3,850,000
P7,880,000
Non-current
liabilities
P2,700,000
380,000
P3,080,000
*Alternatively, if the amount of P180,000 was already included in the current liabilities
total of P2,400,000, an adjustment deducting P12,000 from current liabilities is appropriate
in order to bring the provision for damages to the correct amount of P168,000.
3-9.
(PERIDOT COMPANY)
Reported amounts
(a) Post dated check recorded
(b) Increase in market value
(c) Goods shipped FOB destination
(d) Goods out on consignment
Correct balances, December 31, 2012
Cash
P536,000
80,000
Trading
securities
P500,000
Accounts
receivable
P3,285,000
Inventory
P3,500,000
50,000
(180,000)
P616,000
P550,000
P3,105,000
120,000
135,000
P3,755,000
16
P136,000
98,000
217,500
3,500
P455,000
P124,000
16,000
150,000
17,000
60,000
367,000
P 88,000
Chapter 3 The Statement of Financial Position and Notes to the Financial Statements
3-11.
1.
2.
3.
4.
C
A
C
A
5.
6.
7.
8.
B
C
A
A
9.
10.
A
B
MC. 21
MC 22
MC 23
MC 24
MC 25
D
C
C
A
B
D
A
A
A
A
C
D
D
C
C
MC26
MC27
MC28
MC29
MC30
A
B
B
D
C
MC31
MC32
MC33
MC34
MC35
MC36
MC37
MC39
B
C
A
A
A
C
A
MC40
MC38
MC41
MC42
MC43
B
D
D
A
C
MC44
MC45
B
C
MC46
MC47
MC48
MC49
MC50
MC51
MC52
B
B
C
B
A
C
B
MC11
MC12
MC13
MC14
MC15
MC16
MC17
MC18
MC19
MC20
B
D
C
D
B
C
D
A
C
C
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