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CLASSIQUE Furniture Co. Financial Position

The document contains 4 statements of financial position from CLASSIQUE Furniture Co. as of March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020. The statements show the company's assets, liabilities, and owner's equity on each date. Assets include petty cash, cash on hand, and property, plant and equipment. Liabilities are only current tax liability in March. Owner's equity increases over time as cash on hand increases.

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Vrix Ace Mangilit
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141 views5 pages

CLASSIQUE Furniture Co. Financial Position

The document contains 4 statements of financial position from CLASSIQUE Furniture Co. as of March 31, 2020, June 30, 2020, September 30, 2020, and December 31, 2020. The statements show the company's assets, liabilities, and owner's equity on each date. Assets include petty cash, cash on hand, and property, plant and equipment. Liabilities are only current tax liability in March. Owner's equity increases over time as cash on hand increases.

Uploaded by

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

CLASSIQUE Furniture Co.

Statement of Financial Position


as of March 31, 2020
Notes
Asset
Curent
Petty Cash ₱ 50,000.00
Cash on Hand ₱ 579,947.69
Total Current Assets ₱ 629,947.69
Non-curent
Property, Plant & Equipment-net ₱ 110,000.00
Total Non-current Assets ₱ 110,000.00
Total Assets ₱ 739,947.69

Liabilities & Owner's Equity


Liabilities
Current Libiilities
Current Tax Liability ₱ 461.00
Total Liabilities ₱ 461.00
Total Owner's Equity ₱ 739,486.69
Total Liabilities & Owner's Equity ₱ 739,947.69
CLASSIQUE Furniture Co.
Statement of Financial Position
as of June 30, 2020
Notes
Asset
Curent
Petty Cash ₱ 50,000.00
Cash on Hand ₱ 606,675.00
Total Current Assets ₱ 656,675.00
Non-curent
Property, Plant & Equipment-net ₱ 110,000.00
Total Non-current Assets ₱ 110,000.00
Total Assets ₱ 766,675.00

Liabilities & Owner's Equity


Liabilities
Current Libiilities
Total Liabilities ₱ -
Total Owner's Equity ₱ 766,675.00
Total Liabilities & Owner's Equity ₱ 766,675.00
3

CLASSIQUE Furniture Co.


Statement of Financial Position
as of September 30, 2020
Notes
Asset
Curent
Petty Cash ₱ 50,000.00
Cash on Hand ₱ 649,133.01
Total Current Assets ₱ 699,133.01
Non-curent
Property, Plant & Equipment-net ₱ 110,000.00
Total Non-current Assets ₱ 110,000.00
Total Assets ₱ 809,133.01

Liabilities & Owner's Equity


Liabilities
Current Libiilities
Total Liabilities ₱ -
Total Owner's Equity ₱ 809,133.01
Total Liabilities & Owner's Equity ₱ 809,133.01
CLASSIQUE Furniture Co.
Statement of Financial Position
as of December 31, 2020
Notes
Asset
Curent
Petty Cash ₱ 50,000.00
Cash on Hand ₱ 786,639.20
Total Current Assets ₱ 836,639.20
Non-curent
Property, Plant & Equipment ₱ 110,000.00
Accumulated Depreciation - PPE ₱ (40,000.00)
Total Non-current Assets ₱ 70,000.00
Total Assets ₱ 906,639.20

Liabilities & Owner's Equity


Liabilities
Current Libiilities
Total Liabilities ₱ -
Total Owner's Equity ₱ 906,639.20
Total Liabilities & Owner's Equity ₱ 906,639.20
Date Particulars Ref # Debit Credit
1/1/2020 Accounts Payable ₱ 3,080.00
Cash ₱ 3,080.00
To record payment of A/P

4/15/2020 Current Tax Liability ₱ 461.00


Cash ₱ 461.00
To record payment of tax return

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