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January 22, 2023

SME Trong Co. has the following assets at year-end: Cash in bank P300,000 Accounts receivable 900,000 Inventories 500,000 Investment in convertible bonds 2,000,000 Comm

SME Trong Co. has the following assets at year-end:
Cash in bank
P300,000
Accounts receivable
900,000
Inventories
500,000
Investment in convertible bonds
2,000,000
Commitment to receive a loan that can be net settled in cash
4,000,000
Commitment to make a loan to another entity
5,000,000
Deferred tax asset
50,000
Property, plant and equipment
6,000,000
Trong Co. will report total basic financial assets at

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