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  • Banana Leaf Catering FS

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    Leslie Castillo
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    The financial statements provide details of Banana Leaf Catering's assets, liabilities, capital, revenues and expenses for the month of December 31, 20A. As of December 31, 20A, Banana Leaf Catering had total assets of PHP 745,800 including current assets of PHP 450,000 and non-current assets of PHP 295,000. Its total liabilities were PHP 210,000 and capital was PHP 535,800. For the month, the company had catering service income of PHP 130,000 and net income of PHP 40,800 after operating expenses of PHP 89,000.

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    The financial statements provide details of Banana Leaf Catering's assets, liabilities, capital, revenues and expenses for the month of December 31, 20A. As of December 31, 20A, Banana Leaf Catering had total assets of PHP 745,800 including current assets of PHP 450,000 and non-current assets of PHP 295,000. Its total liabilities were PHP 210,000 and capital was PHP 535,800. For the month, the company had catering service income of PHP 130,000 and net income of PHP 40,800 after operating expenses of PHP 89,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    29 views2 pages

    Banana Leaf Catering FS

    Uploaded by

    Leslie Castillo
    The financial statements provide details of Banana Leaf Catering's assets, liabilities, capital, revenues and expenses for the month of December 31, 20A. As of December 31, 20A, Banana Leaf Catering had total assets of PHP 745,800 including current assets of PHP 450,000 and non-current assets of PHP 295,000. Its total liabilities were PHP 210,000 and capital was PHP 535,800. For the month, the company had catering service income of PHP 130,000 and net income of PHP 40,800 after operating expenses of PHP 89,000.

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    © All Rights Reserved
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    of 2

    Illustrative Examples – Financial Reports

    The statement of financial position and the statement of comprehensive income


    including the statement of capital of the Banana Leaf Catering for the month ended December
    31, 20A are as follows:

    Banana Leaf Catering


    Statement of Financial Position
    December 31, 20A

    Assets
    Current Assets:
    Cash Php359,000
    Accounts Receivable Php64,000
    Less: Allowance for Doubtful Account 3,200 60,800
    Inventory, F & B 15,000
    Prepaid Advertising 10,000
    Operating Supplies 6,000
    Total Current Assets Php 450,000
    Non-current Assets:
    Delivery Van Php300,000
    Less: Accumulated Depreciation 5,000 295,000
    Total Assets Php 745,800

    Liabilities & Capital


    Current Liabilities:
    Salaries Payable Php 8,000
    Interest Payable 2,000
    Total Current Liabilities Php 10,000
    Non-Current Liabilities 200,000
    Total Liabilities Php 210,000
    Capital, December 31, 20A (per statement of Capital) 535,800
    Total Liabilities & Capital Php 745,800

    Banana Leaf Catering


    Statement Comprehensive Income
    For the Month Ended December 31, 20A

    Catering Service Income Php 130,000


    Less: Operating Expenses:
    Salaries and Wages Php 33,000
    Cost of Sales, F&B 30,000
    Advertising 10,000
    Depreciation 5,000
    Operating Supplies 4,000
    Doubtful Accounts 3,200
    Gas & Fuel 2,000
    Interest Expense 2,000 89,000
    Net Income Php 40,800
    Banana Leaf Catering
    Statement of Capital
    For the Month Ended December 31, 20A
    Schedule I

    Capital, December 1 Php 500,000


    Add: Net Income (per statement of comprehensive income) 40,800
    Total Php 540,800
    Less: Drawing 5,000
    Capital, December 31 Php 535,800

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