I
nt
er
medi
at
eAccount
i
ng3
St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
MODULE01
AE322:
I
NTERMEDI
ATE
ACCOUNTI
NG3
NAME:
BESI
N,
ROSALLEN.
St
udentNumber
:
18012593
Cour
se:Bachel
orofSci
encei
nAccount
i
ngI
nf
or
mat
i
onSy
st
em
Sect
i
on:
BSAI
S3201
Teacher
’
sName:
MR.JOEMARIGOBANGCO
Dat
eSubmi
t
t
ed:
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
_
BESTLI
NK
COLLEGEOFTHEPHI
LI
PPI
NES
I
nt
er
medi
at
eAccount
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ng3
St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
Topi
c:St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
alSt
at
ement
s
PRELI
MI
NARYACTI
VI
TI
ES
Name:
BESI
N,
ROSALLEN.
Year&Sect
i
on:
BSAI
S3201
Whatdi
dy
ouknowaboutNot
es?
ANSWER:Not
esabr
i
efr
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dofsomet
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i
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endownt
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hememor
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f
orf
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ur
er
ef
er
ence.
Not
esar
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i
neofaspeech,
st
at
ement
,
t
est
i
monyorofone’
si
mpr
essi
ons
ofsomet
hi
ng.
ANALYSI
S,
APPLI
CATI
ONANDEXPLORATI
ON
ACTI
VI
TY1
I
nst
r
uct
i
ons:I
l
l
ust
r
at
et
hel
i
nei
t
emsofst
at
ementoff
i
nanci
al
posi
t
i
onandst
at
eaccount
s
undereachl
i
nei
t
em.
I
nt
er
medi
at
eAccount
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St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
ACTI
VI
TY2
I
nst
r
uct
i
ons:Expl
ai
nt
het
het
wot
y
pesofev
ent
saf
t
ert
her
epor
t
i
ngper
i
od.
Ty
pesofEv
ent
saf
t
ert
heRepor
t
i
ngPer
i
od
a.Adj
ust
i
ngev
ent
s–af
t
ert
her
epor
t
i
ngper
i
odar
et
hoset
hatpr
ov
i
deev
i
denceof
condi
t
i
onst
hatexi
statt
heendofr
epor
t
i
ngper
i
od.
b.Nonadj
ust
i
ng ev
ent
s– af
t
err
epor
t
i
ng per
i
od ar
et
hoset
hatar
ei
ndi
cat
i
v
eof
condi
t
i
onst
hatar
i
seaf
t
ert
heendofr
epor
t
i
ngper
i
od.
GENERALI
ZATI
ON
Name:
BESI
N,
ROSALLEN.
Di
r
ect
i
on:
Answert
hef
ol
l
owi
ngpr
obl
em.
Year&Sect
i
on:
BSAI
S3201
I
nt
er
medi
at
eAccount
i
ng3
St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
ASSI
GNMENT
Name:
BESI
N,
ROSALLEN.
Year&Sect
i
on:
BSAI
S3201
Di
r
ect
i
on/
I
nst
r
uct
i
on:Answert
hef
ol
l
owi
ngquest
i
on.
Obj
ect
i
v
e1:Expl
ai
nt
hepr
esent
at
i
onofasset
,
l
i
abi
l
i
t
i
esandequi
t
yi
nt
hest
at
ementof
f
i
nanci
alposi
t
i
on.
Asset
s
TheRev
i
sedConcept
ual
Fr
amewor
kdef
i
nesanassetasapr
esenteconomi
cr
esour
ce
cont
r
ol
l
edbyt
heent
i
t
yasar
esul
tofpastev
ent
s.Aneconomi
cr
esour
cei
sar
i
ghtt
hathast
he
pot
ent
i
al
t
opr
oduceeconomi
cbenef
i
t
s.
Cur
r
entAsset
s
PAS1,
par
agr
aph66,
pr
ov
i
dest
hatanent
i
t
yshal
l
cl
assi
f
yanassetascur
r
entwhen:
a.Theasseti
scashoracashequi
v
al
entunl
esst
heasseti
sr
est
r
i
ct
edt
oset
t
l
eal
i
abi
l
i
t
yf
or
mor
et
hant
wel
v
emont
hsaf
t
ert
her
epor
t
i
ngper
i
odaf
t
ert
her
epor
t
i
ngper
i
od.
b.Theent
i
t
yhol
dst
heassetpr
i
mar
i
l
yf
ort
hepur
poseoft
r
adi
ng.
c.Theent
i
t
yexpect
st
or
eal
i
z
et
heassetwi
t
hi
nt
wel
v
emont
hsaf
t
ert
her
epor
t
i
ngper
i
od
d.Theent
i
t
yexpect
st
or
eal
i
zet
heassetori
nt
endst
osel
lorconsumei
twi
t
hi
nt
heent
i
t
y
’
s
nor
mal
oper
at
i
ngcy
cl
e.
Noncur
r
entAsset
s
Thecapt
i
onnoncur
r
entasset
sar
ear
esi
dual
def
i
ni
t
i
on.PAS1,
par
agr
aph66,
si
mpl
yst
at
est
hat
“
anent
i
t
yshal
l
cl
assi
f
yal
l
ot
herasset
snotcl
assi
f
i
edascur
r
entasnoncur
r
entasset
s”
Accor
di
ngl
y
,
noncur
r
entasset
si
ncl
udet
hef
ol
l
owi
ng:
a.Pr
oper
t
y
,
pl
antandequi
pment
b.Longt
er
mi
nv
est
ment
s
c.I
nt
angi
bl
easset
s
d.Ot
hernoncur
r
entasset
s
Li
abi
l
i
t
i
es
Undert
heRev
i
sedConcept
ual
Fr
amewor
k,
al
i
abi
l
i
t
yi
sdef
i
nedasapr
esentobl
i
gat
i
onofan
ent
i
t
yt
ot
r
ansf
eraneconomi
cr
esour
ceasar
esul
tofpastev
ent
s.
Cur
r
entLi
abi
l
i
t
i
es
PAS1,
par
agr
aph69,
pr
ov
i
dest
hatanent
i
t
yshal
l
cl
assi
f
yal
i
abi
l
i
t
yascur
r
entwhen:
a.Theent
i
t
yexpect
st
oset
t
l
et
hel
i
abi
l
i
t
ywi
t
hi
nt
heent
i
t
y
’
snor
mal
oper
at
i
ngcy
cl
e.
b.Theent
i
t
yhol
dst
hel
i
abi
l
i
t
ypr
i
mar
i
l
yf
ort
hepur
poseoft
r
adi
ng.
I
nt
er
medi
at
eAccount
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ng3
St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
c.Thel
i
abi
l
i
t
yi
sduet
obeset
t
l
edwi
t
hi
nt
wel
v
emont
hsaf
t
ert
her
epor
t
i
ngper
i
od.
d.Theent
i
t
ydoesnothav
eanuncondi
t
i
onalr
i
ghtt
odef
erset
t
l
ementoft
hel
i
abi
l
i
t
yf
oratl
east
t
wel
v
emont
hsaf
t
ert
her
epor
t
i
ngper
i
od.
Noncur
r
entLi
abi
l
i
t
i
es
Thet
er
m noncur
r
entl
i
abi
l
i
t
i
esar
ear
esi
dual
def
i
ni
t
i
on.PAS1,
par
agr
aph69,
si
mpl
yst
at
est
hat
al
l
l
i
abi
l
i
t
i
esnotcl
assi
f
i
edascur
r
entl
i
abi
l
i
t
i
esar
ecl
assi
f
i
edasnoncur
r
entl
i
abi
l
i
t
i
es.
Equi
t
y
Thet
er
m equi
t
yi
st
her
esi
dual
i
nt
er
esti
nt
heasset
soft
heent
i
t
yaf
t
erdeduct
i
ngal
l
oft
he
l
i
abi
l
i
t
i
es.Equi
t
yi
si
ncr
easedbypr
of
i
t
abl
eoper
at
i
onsandcont
r
i
but
i
onbyowner
s.
Obj
ect
i
v
e2:Whati
st
heor
derofpr
esent
i
ngt
henot
est
of
i
nanci
alst
at
ement
s?
Or
derofPr
esent
i
ngt
heNot
es
PAS1,
par
agr
aph114,
pr
ov
i
dest
hatanent
i
t
ynor
mal
l
ypr
esent
snot
esi
nt
hef
ol
l
owi
ng
or
dert
oassi
stuser
sunder
st
andt
hef
i
nanci
al
st
at
ement
sandt
ocompar
et
hem wi
t
h
f
i
nanci
al
st
at
ement
sofot
herent
i
t
i
es:
a.St
at
ementofcompl
i
anceswi
t
hPFRS
b.Summar
yofsi
gni
f
i
cantaccount
i
ngpol
i
ci
esused
c.Suppor
t
i
ngi
nf
or
mat
i
onorcomput
at
i
onf
orl
i
nei
t
emspr
esent
edi
nt
hef
i
nanci
al
st
at
ement
s
d.Ot
her di
scl
osur
es, such cont
i
ngent l
i
abi
l
i
t
i
es, unr
ecogni
zed cont
r
act
ual
commi
t
ment
sandnonf
i
nanci
al
di
scl
osur
es.
EVALUATI
ON
Name:
BESI
N,
ROSALLEN.
1.A-St
at
ementofFi
nanci
al
Posi
t
i
on
2.A–Asset
3.B–Li
abi
l
i
t
i
es
4.C–Equi
t
y
5.A–Li
qui
di
t
y
6.B-Not
est
oFi
nanci
al
St
at
ement
7.B-Not
est
oFi
nanci
al
St
at
ement
8.C-Bot
haandb
9.D-Al
loft
heabov
e
10.
C-Cont
r
ol
Year&Sect
i
on:
BSAI
S3201
I
nt
er
medi
at
eAccount
i
ng3
St
at
ementofFi
nanci
al
Posi
t
i
onandNot
est
oFi
nanci
al
St
at
ement
EVALUATI
ON
1.I
ti
saf
or
mal
st
at
ementshowi
ngt
het
hr
ee
el
ement
scompr
i
si
ngf
i
nanci
al
posi
t
i
on,
namel
yasset
s,
l
i
abi
l
i
t
i
esandequi
t
y
A.
St
at
ementofFi
nanci
al
Posi
t
i
on
B.
St
at
ementofCompr
ehensi
v
eI
ncome
C.
Tr
i
al
Bal
anceSt
at
ement
D.
Noneoft
heabov
e
2.Apr
esenteconomi
cr
esour
cecont
r
ol
l
ed
byt
heent
i
t
yasar
esul
tofpastev
ent
s.
A.
Asset
C.Equi
t
y
B.
Li
abi
l
i
t
i
es
D.Noneoft
he
abov
e
3.I
ti
sdef
i
nedasapr
esentobl
i
gat
i
onofan
ent
i
t
yt
ot
r
ansf
eraneconomi
cr
esour
ceasa
r
esul
tofpastev
ent
s.
A.
Asset
C.Equi
t
y
B.
Li
abi
l
i
t
i
es
D.Noneoft
he
abov
e
4.I
ti
st
her
esi
dual
i
nt
er
esti
nt
heasset
sof
t
heent
i
t
yaf
t
erdeduct
i
ngal
l
oft
hel
i
abi
l
i
t
i
es.
A.
Asset
C.Equi
t
y
B.
Li
abi
l
i
t
i
es
D.Noneoft
he
abov
e
5.I
ti
st
heabi
l
i
t
yoft
heent
i
t
yt
omeet
cur
r
ent
l
ymat
ur
i
ngobl
i
gat
i
ons.
A.Li
qui
di
t
y
C.PastEv
ent
s
B.Sol
v
ency
D.
Fut
ur
e
Ev
ent
s
6.Pr
ov
i
denar
r
at
i
v
edescr
i
pt
i
onor
di
saggr
egat
i
onofi
t
emspr
esent
edi
nt
he
Cont
r
ol
f
i
nanci
al
st
at
ement
sandi
nf
or
mat
i
onabout
i
t
emst
hatdonotqual
i
f
yf
orr
ecogni
t
i
on.
A.
Not
est
oI
ncomeSt
at
ement
B.
Not
est
oFi
nanci
al
St
at
ement
C.
Not
est
oFi
nanci
al
Posi
t
i
on
D.
Not
est
oShar
ehol
der
s'
Equi
t
y
7.I
t
spur
posei
st
opr
ov
i
det
henecessar
y
di
scl
osur
esr
equi
r
edbyPhi
l
i
ppi
neFi
nanci
al
St
andar
ds.
A.
Not
est
oI
ncomeSt
at
ement
B.
Not
est
oFi
nanci
al
St
at
ement
C.
Not
est
oFi
nanci
al
Posi
t
i
on
D.
Not
est
oShar
ehol
der
s'
Equi
t
y
8.Thesummar
yofsi
gni
f
i
cantaccount
i
ng
pol
i
ci
esshal
l
di
scl
oset
hef
ol
l
owi
ng
A.
Themeasur
ementbasi
sused
B.
Theaccount
i
ngpol
i
ci
esused
C.
Bot
haandb
D.
Noneoft
heabov
e
9.Par
t
i
esar
econsi
der
edt
ober
el
at
edi
fone
par
t
yhas
A.Theabi
l
i
t
yt
ocont
r
ol
t
heot
herpar
t
y
.
B.
The abi
l
i
t
y t
o exer
ci
se si
gni
f
i
cant
i
nf
l
uenceov
ert
heot
herpar
t
y
.
C.
Joi
ntcont
r
ol
ov
ert
heent
i
t
y
.
D.
Al
loft
heabov
e
10.I
ti
sowner
shi
pdi
r
ect
l
yori
ndi
r
ect
l
y
t
hr
oughsubsi
di
ar
i
esofmor
et
hanhal
fof
t
hev
ot
i
ngpowerofanent
i
t
y
.
A.
Power
C.Cont
r
ol
B.
Si
gni
f
i
cantI
nf
l
uence
D.
Joi
nt