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20202019

The financial statement shows total assets increased from P 6,440,000 in 2019 to P 9,450,000 in 2020, with notable increases in cash and machinery. Liabilities also rose, primarily due to new borrowings, while equity grew significantly through retained earnings and ordinary share capital. Overall, the company demonstrates strong growth in both assets and equity over the year.

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5 views

20202019

The financial statement shows total assets increased from P 6,440,000 in 2019 to P 9,450,000 in 2020, with notable increases in cash and machinery. Liabilities also rose, primarily due to new borrowings, while equity grew significantly through retained earnings and ordinary share capital. Overall, the company demonstrates strong growth in both assets and equity over the year.

Uploaded by

Mark del Mundo
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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2020 2019 Change

ASSETS
Cash P 3,500,000 P 1,360,000 2,140,000
Accounts receivable 1,450,000 1,200,000 250,000
Inventory 1,330,000 1,450,000 120,000
Prepaid expenses 55,000 125,000 70,000
Machinery 3,310,000 2,750,000 560,000
Accumulated depreciation-machinery 910,000 800,000 110,000
Automobile 760,000 380,000 400,000
Accumulated depreciation-automobile 65,000 25,000 40,000
TOTAL ASSETS P 9,450,000 P 6,440,000

LIABILITIES AND EQUITY


Accounts payable P 1,445,000 P 1,345,000 100,000
Accrued expenses 120,000 160,000 40,000
Borrowings and other long-term liabilities 1,000,000 - 1,000,000
Ordinary share capital 3,235,000 2,935,000 300,000
Retained earnings 3,650,000 2,000,000 1,650,000
TOTAL LIABILITIES AND EQUITY P 9,450,000 P 6,440,000

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