LEARNER'S MODULE Name of the Student Section Problem 2 - One day, your boss has an urgent meeting and reports are coming dut. So, he asked you to prepare the Statement of Financial Position using the Report form with complete Notes to the Financial Statement. (Use separate sheet of paper for the report). Credit 375,000 1,200 32.500 12,500 6.500 350,000 35.000 32,000 16,500 MARCELO ENTERPRISES Trial Balance December 31, 2020 Account Titles Debit Accounts Receivables 85.000 Accounts Payable Accrued Interest on Notes payable Accrued Interest on Notes Receivable 150 Accum. Depreciation - Building Accum. Depreciation - F&F Advances to Employees - Current 9.500 Allowance for doubtful accounts Bonds Payable Building 650,000 Cash in bank 60,000 Cash on Hand 12.500 Current Portion of Bonds Payable Deferred Tax Liability Dividends Payable Financial Assets - Non Current 550,000 Financial Assets - Current 250,000 Furniture and Fixture, 250,000 Income Tax Payable Inventories - 250,000 Investment in associates at Equity 65,000 land - 180,000 Long-term advances to officers 18,000 Marcelo, Capital Notes Payable Notes Payable - Short Term Notes Payable Clong term) Notes Receivable 15.000 Office Supplies 7.700 Patents 45,000 Petty Cash Fund 1,200 Prepaid Insurance 36,000 Trademark 15,000 Unearned Revenue TOTAL 2,500,050 14,000 603 350 12,000 955,000 45.000 9.500 2.500.050 Requirements: 3. In a separate Sheet of paper, Prepare the Statement of Financial Position in good form including the Notes to the Financial Statement. 4. Using the answer sheet provided, answer the following: a. How much is the Total Cash and Cash Equivalent? DOLLY VINLUAN-ABASTA, CPA, MBA FUNDAMENTALS OF ADM 2 MICHAEL JULIAN C. SORNES, LPT SUBJECT AUTHORS ABM 12 LEARNER'S MODULE Name of the Student Section Problem 2 - One day, your boss has an urgent meeting and reports are coming dut. So, he asked you to prepare the Statement of Financial Position using the Report form with complete Notes to the Financial Statement. (Use separate sheet of paper for the report). Credit 375,000 1,200 32.500 12,500 6.500 350,000 35.000 32,000 16,500 MARCELO ENTERPRISES Trial Balance December 31, 2020 Account Titles Debit Accounts Receivables 85.000 Accounts Payable Accrued Interest on Notes payable Accrued Interest on Notes Receivable 150 Accum. Depreciation - Building Accum. Depreciation - F&F Advances to Employees - Current 9.500 Allowance for doubtful accounts Bonds Payable Building 650,000 Cash in bank 60,000 Cash on Hand 12.500 Current Portion of Bonds Payable Deferred Tax Liability Dividends Payable Financial Assets - Non Current 550,000 Financial Assets - Current 250,000 Furniture and Fixture, 250,000 Income Tax Payable Inventories - 250,000 Investment in associates at Equity 65,000 land - 180,000 Long-term advances to officers 18,000 Marcelo, Capital Notes Payable Notes Payable - Short Term Notes Payable Clong term) Notes Receivable 15.000 Office Supplies 7.700 Patents 45,000 Petty Cash Fund 1,200 Prepaid Insurance 36,000 Trademark 15,000 Unearned Revenue TOTAL 2,500,050 14,000 603 350 12,000 955,000 45.000 9.500 2.500.050 Requirements: 3. In a separate Sheet of paper, Prepare the Statement of Financial Position in good form including the Notes to the Financial Statement. 4. Using the answer sheet provided, answer the following: a. How much is the Total Cash and Cash Equivalent? DOLLY VINLUAN-ABASTA, CPA, MBA FUNDAMENTALS OF ADM 2 MICHAEL JULIAN C. SORNES, LPT SUBJECT AUTHORS ABM 12
