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Account Form Fabm2 What I Can Do

The Dan Bam Restaurant's statement of financial position as of June 30, 2020 shows total assets of $1,138,100 consisting of current assets of $251,100 and non-current assets of $887,000. Total liabilities are $588,000 consisting of current liabilities of $58,000 and non-current liabilities of $530,000. Owner's equity is $550,100.

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Henry Balmores Tamayo
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611 views1 page

Account Form Fabm2 What I Can Do

The Dan Bam Restaurant's statement of financial position as of June 30, 2020 shows total assets of $1,138,100 consisting of current assets of $251,100 and non-current assets of $887,000. Total liabilities are $588,000 consisting of current liabilities of $58,000 and non-current liabilities of $530,000. Owner's equity is $550,100.

Uploaded by

Henry Balmores Tamayo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ACCOUNT FORM

DAN BAM RESTAURANT


STATEMENT OF FINANCIAL POSITION
As of June 30, 2020

ASSETS LIABILITIES and OWNER’S EQUITY


CURRENT ASSETS CURRENT LIABILITIES
CASH P55,000 ACCOUNTS PAYABLE P40,000
ACCOUNTS RECEIVABLE P32,000 ACCRUED EXPENSES 18,000
LESS: ALLOWANCE FOR BAD DEBTS 3,400 28,600 TOTAL CURRENT LIABILITIES P58,000
NOTES RECEIVABLE 17,000
ACCRUED INCOME 15,000 NON-CURRENT LIABILITIES
MERCHANDISE INVENTORY 125,000 LOANS PAYABLE (2 years) 30,000
PREPAID INSURANCE 3,500 MORTGAGE PAYABLE 500,000
PREPAID RENT 2,000 TOTAL NON-CURRENT LIABILITIES 530,000
SUPPLIES 5,000 P588,000
TOTAL CURRENT ASSETS P251,100 OWNER’S EQUITY
PARK, CAPITAL 06/30/2020 550,100,
NON-CURRENT ASSETS TOTAL LIABILITIES AND OWNER’S EQUITY P1,138,100
PROPERTY, PLANT, AND EQUIPMENT
LAND P550,000
BUILDING P300,000
LESS: ACCUMULATED DEPRECIATION-BLDG 15,000 285,000
EQUIPMENT 50,000
LESS: ACCUMULATED DEPRECIATION-EQPMT 10,000 40,000
FURNITURES AND FIXTURES 12,000 P887,000
TOTAL ASSETS P1,138,100

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