d

Note
Net Sales 4
Less Cost of Goods Sold 5
Gross Profit

Less Expenses:
General and Administrative Expenses 6
Payroll and Related Expenses 7
John Paul C Dela Cruz:
Income before Tax Please add thick border or
bold this row. Applies to all
other 'totals'
Tax of 30%
Net Income After Tax

Assets
Current Assets Note
Cash John Paul C Dela Cruz:
Merchandise Inventory not merchandise inventory.
Other Assets The nature
1 of the business
is not merchandising but
Non-Current Assets rather manufacturing.
Leasehold Improvements Should be raw material
Property Plant and Equipment 2 C Dela Cruz:
John Paul
Total Assets Please make a total and
separate line for current
assets and non-current
Liabilities and Partner's Equity assets.
Current Liability
Trade and Other Payables 3
Partner's Equity
Partners' Capital
Total Liabilities and Partner's Equity

Cash Flow From Operating Activities

Cash Receipts from revenues John Paul C Dela Cruz:
Cash Payments for expenses Not all cash paid are for
Net Cash Provided by Operating Activities expenses, please revise

Cash Flow From Investing Activities

Purchase of Property, Plant and Equipment

Net Cash Provided (used) by Investing Activities

Cash Flow From Financing Activities
Investments by Owner
Drawings by Owner
Net Cash Provided by Financing Activities
 Statement of Comprehensive Income
2018 2019
5,862,857.14 N 6,273,257.14 N
4,220,892.35 4,487,508.14
1,641,964.79 1,785,749.00
^

555,524.76 N 548,999.92 N
n Paul C Dela Cruz:
814,415.22 814,415.22
se add thick border or 272,024.81 422,333.86
this row. Applies to all ^
r 'totals'
81,607.44 126,700.16
190,417.37 295,633.70

Statement of Financial Position

2018 2019
n Paul C Dela Cruz:
3,139,045.87 CF 3,529,082.77 CF
merchandise inventory. 200,463.00 John Paul C Dela Cruz: 214,495.41
nature of the business 19,080.64 N Input vat is not 19,080.64 N
ot merchandising but captalizable as part the
er manufacturing. asset purchased. Please
uld be raw material 20,400.00 revise. Applies to all except 15,300.00
n Paul C Dela Cruz: 115,466.96 N merchandise inventory 96,849.85 N
se make a total and 3,494,456.47 3,874,808.67
arate line for current
ets and non-current ^
ets.

304,039.10 N 388,757.59 N

3,190,417.37 EQ 3,486,051.07 EQ
3,494,456.47 3,874,808.67
^

Projected Cash Flows

2018 2019

n Paul C Dela Cruz: 6,566,400.00 p John Paul C Dela Cruz: 7,026,048.00 p John Paul C Dela Cruz:
all cash paid are for 6,262,686.86 Please show computation 6,636,011.10 Please show computation
enses, please revise 303,713.14 390,036.90
^ ^

(164,667.27) CC

(164,667.27)
^
3,000,000.00

3,000,000.00
nsive Income
2020 2021
6,413,379.43 N 6,542,379.87 N
4,578,538.39 4,662,343.35
1,834,841.04 1,880,036.53

554,610.68 N 561,569.79 N
814,415.22 814,415.22
465,815.14 504,051.52

139,744.54 151,215.46
326,070.60 352,836.06

al Position

2020 2021
3,891,892.43 CF 4,277,703.59 CF
219,286.48 223,697.26
19,080.64 N 19,080.64 N

10,200.00 5,100.00
80,464.11 N 65,118.23 N
4,220,923.65 4,590,699.72

408,801.98 N 425,741.99 N
John Paul C Dela Cruz:
3,812,121.67 EQ 4,164,957.74 Doesn't agree with SCE
4,220,923.65 4,590,699.72

Flows

2020 2021

ul C Dela Cruz: 7,182,984.96 p John Paul C Dela Cruz: 7,327,465.46 p John Paul C Dela Cruz:
how computation 6,820,175.29 Please show computation 6,941,654.30 Please show computation
362,809.67 385,811.16
^ ^
 John Paul C Dela Cruz:
p Please change the header
2022 to
6,673,264.11 N [Company name]
4,747,372.11 [FS]
1,925,892.00

569,202.31 N
814,415.22
542,274.47

162,682.34
379,592.13

2022
4,689,701.80 CF
228,172.46
19,080.64 N

-
50,298.77 N
4,987,253.67

442,703.80 N
l C Dela Cruz: John Paul C Dela Cruz:
gree with SCE 4,544,549.87 Doesn't agree with SCE
4,987,253.67

2022

l C Dela Cruz: 7,474,055.81 p John Paul C Dela Cruz:

ow computation 7,062,057.61 Please show computation
411,998.20
^
Net Increase in Cash

Add: Cash at the beginning of the period

Cash Ending

Tio, Capital
Capital, January 1 -
Investment 600,000.00
Add: Net Income 38,083.47
Total 638,083.47
^
Less: Drawings
Capital, December 31 638,083.47
^

Tio, Capital
Capital, January 1 638,083.47
Investment
Add: Net Income 59,126.74
Total 697,210.21
^
Less: Drawings
Capital, December 31 697,210.21
^

Tio, Capital
Capital, January 1 697,210.21
Investment
Add: Net Income 65,214.12
Total 762,424.33
^
Less: Drawings
Capital, December 31 762,424.33
^

Tio, Capital
Capital, January 1 762,424.33
Investment
Add: Net Income 70,834.96
Total 833,259.30
^
Less: Drawings
Capital, December 31 833,259.30
^
 ^
3,139,045.87 390,036.90
^
3,139,045.87
3,139,045.87 BS 3,529,082.77 BS
^ ^
PROJECTED STATEMENT OF CHANGES IN PARTNER'S EQUITY
For the year Ended Dec. 31, 2018
Tabo, Capital Landong, Capital Duhaylungsod, Capital
- -
600,000.00 600,000.00
38,083.47 38,083.47
638,083.47 638,083.47
^

638,083.47 638,083.47
^
PROJECTED STATEMENT OF CHANGES IN PARTNER'S EQUITY
For the year Ended Dec. 31, 2019
Tabo, Capital Landong, Capital Duhaylungsod, Capital
638,083.47 638,083.47

59,126.74 59,126.74
697,210.21 697,210.21
^

697,210.21 697,210.21
^
PROJECTED STATEMENT OF CHANGES IN PARTNER'S EQUITY
For the year Ended Dec. 31, 2020
Tabo, Capital Landong, Capital Duhaylungsod, Capital
697,210.21 697,210.21

65,214.12 65,214.12
762,424.33 762,424.33
^

762,424.33 762,424.33
^
PROJECTED STATEMENT OF CHANGES IN PARTNER'S EQUITY
For the year Ended Dec. 31, 2021
Tabo, Capital Landong, Capital Duhaylungsod, Capital
762,424.33 762,424.33

70,834.96 70,834.96
833,259.30 833,259.30
^

833,259.30 833,259.30
^
PROJECTED STATEMENT OF CHANGES IN PARTNER'S EQUITY
 362,809.67 385,811.16

3,529,082.77 3,891,892.43
3,891,892.43 BS 4,277,703.59 BS
^ ^
GES IN PARTNER'S EQUITY
c. 31, 2018
Duhaylungsod, Capital Cuaresma, Capital
- -
600,000.00 600,000.00
38,083.47 38,083.47
638,083.47 638,083.47
^ ^

638,083.47 638,083.47
^ ^
GES IN PARTNER'S EQUITY
c. 31, 2019
Duhaylungsod, Capital Cuaresma, Capital
638,083.47 638,083.47

59,126.74 59,126.74
697,210.21 697,210.21
^ ^

697,210.21 697,210.21
^ ^
GES IN PARTNER'S EQUITY
c. 31, 2020
Duhaylungsod, Capital Cuaresma, Capital
697,210.21 697,210.21

65,214.12 65,214.12
762,424.33 762,424.33
^ ^

762,424.33 762,424.33
^ ^
GES IN PARTNER'S EQUITY
c. 31, 2021
Duhaylungsod, Capital Cuaresma, Capital
762,424.33 762,424.33

70,834.96 70,834.96
833,259.30 833,259.30
^ ^

833,259.30 833,259.30
^ ^
GES IN PARTNER'S EQUITY
 411,998.20

4,277,703.59
4,689,701.80 BS
^

Total

3,000,000.00
190,417.37 IS
3,190,417.37
^

3,190,417.37 3,190,417.37
^
p

Total
3,190,417.37

295,633.70 IS
3,486,051.07
^

3,486,051.07 3,486,051.07
^
p

Total
3,486,051.07

326,070.60 IS
3,812,121.67
^

3,812,121.67 3,812,121.67
^
p

Total
3,812,121.67

352,836.06 IS
4,164,957.74
^
John Paul C Dela Cruz:
4,166,296.49 Please revise

p
 Tio, Capital
Capital, January 1 833,259.30
Investment
Add: Net Income 75,918.43
Total 909,177.72
^
Less: Drawings
Capital, December 31 909,177.72
^

Tickmarks Legend:
Tick marks to check references in financial statements and notes:
N Agreed financial statement amount with am
IS Agreed with Income Statement
BS Agreed with balance sheet
CF Agreed with cash flow statement
EQ Agreed with statement of changes in equity

Tick marks to check arithmetic calculations in financial statements and notes:

^ Footed/casted correctly
< Cross casted correctly
A=L+E Total assets agreed with sum of total liabilitie
CC Correctly calculated
p Checked if subject/headings/page numbers/
Tick marks to agree prior period amounts to prior period's signed financial statements
PY Agreed to previous period financial statemen
 For the year Ended Dec. 31, 2021
Tabo, Capital Landong, Capital Duhaylungsod, Capital
833,259.30 833,259.30

75,918.43 75,918.43
909,177.72 909,177.72
^

909,177.72 909,177.72
^

and notes:
ed financial statement amount with amount in the note
ed with Income Statement
ed with balance sheet
ed with cash flow statement
ed with statement of changes in equity

ments and notes:

ed/casted correctly
s casted correctly
assets agreed with sum of total liabilities + equity
ctly calculated
ked if subject/headings/page numbers/amounts/figures/dates are correct/consistent
ned financial statements
d to previous period financial statements
c. 31, 2021
Duhaylungsod, Capital Cuaresma, Capital
833,259.30 833,259.30

75,918.43 75,918.43
909,177.72 909,177.72
^ ^

909,177.72 909,177.72
^ ^
 Total John Paul C Dela Cruz:
4,166,296.49 Please revise

379,592.13 IS
4,545,888.62
^
John Paul C Dela Cruz:
4,545,888.62 Please revise
^
 p
Note 1 - Other Assets 2018
Office Supplies 5389.58 p
Maintenance Supplies 4230.71
Employee Uniforms 2295.70
Factory Supplies 7164.65
TOTAL 19080.64
^
OTHER ASSETS
Office Supplies Unit Cost
Calculator 280.00
Stapler 165.00
Ballpen 348.00
Permanent Marker 35.00
Puncher 45.00
Scotch Tape 25.00
Scissors 48.00
Carbon Copy 150.00
Folder 3.50
Log Book 152.72
Paper Clips 118.99
Bond Paper 231.20
TOTAL

Maintenance Supplies
Wall Clock 199.00
Bulb 158.00
Dustpan 100.00
Broom 110.00
Trash Bin 85.00
Trash Bag 28.00
Floor Mop 1019.71
Dishwashing liquid 45.00
Sponge 10.00
TOTAL

Employee Uniforms
Hairnets 50.55
Aprons 363.60
Uniforms 85.43
TOTAL John Paul C Dela Cruz:
Not PPE? Yung cooking
pot kasi namin more than
Factory Supplies a 2 years na hehe.
Cooking Pot 750.00
2-Cup Glass Measuring Cup 366.66
Plastic Measuring Cup 498.89
Heavy Duty Premium Spatula 392.00
John Paul C Dela Cruz:
TOTAL Not consistent with the
 Not consistent with the
asset categorization below
PROPERTY, PLANT AND EQUIPMENT
Process Equipment Unit Cost
John Paul C Dela Cruz:
2 Burner Gas Stove 1998.00
Not consistent with the
Total asset categorization below

Electrical Equipment
Airconditioner 9295.00
Electric fan 1749.99
Refrigerator 11698.00
Desktop computer 19000.00
Telephone 3200.94
Printer 7353.94
Total

Furnitures and Fixtures

Office Table 2200.00
Round Table 1500.00
Monoblock Chair (6’s) 2000.00
Office Chair 708.24
Total

Safety Equipment
Fire Extinguisher 950.00
Emergency Light 1299.75
CCTV Camera 12464.00
Total
TOTAL PROPERTY, PLANT AND EQUIPMENT

Depreciation Schedule:
Cost
Machineries and Equipment
2 Burner Gas Stove 3996.00
Office Equipment
Airconditioner 18590.00
Electric fan 5249.97
Refrigerator 23396.00
Desktop computer 38000.00
Telephone 6401.88
Printer 7353.94
Furnitures and Fixtures
Office Table 4400.00
Round Table 3000.00
Monoblock Chair (6’s) 4000.00
Office Chair 1416.48
Total

Depreciation Schedule:
Safety Equipment Cost
Fire Extinguisher 5700.00
Emergency Light 5199.00
CCTV Camera 12464.00
TOTAL
John Paul C Dela Cruz:
Note 2 Property Plant and Equipment Should be Carrying
amount/Book 2018
value
John Paul C Dela Cruz:
Should be carrying amount
Balance 139,167.27
John Paul C Dela Cruz:
Should be current year
Less: Accumulated Depreciation 23,700.31
depreciation expense not
TOTAL 115,466.96
accumulated depreciation.
^

Note 3 - Trade and Other Payables

2018 2019
VAT Payable 222431.66 262057.43
Income Tax 81,607.44 126,700.16
Total 304,039.10 388,757.59
^

Note 4 - Net Sales

2018 John Paul C Dela Cruz:
Gross Sales 6,566,400.00 Not in line with table 3.10
projected sales
Output Tax 703,542.86 CC
Net Sales 5,862,857.14 IS
^
Note 5 - COST OF GOODS SOLD
2018
Materials beginning
Purchases of Raw Materials 4,009,260.00
Materials Available for Use: 4,009,260.00
^
Ending Materials 200,463.00
Materials Used in Production 3,808,797.00
^
Direct Labor 390,031.20
John Paul C Dela Cruz:
Manufacturing Overhead Please22,064.15
show computations
Total Manufacturing Cost 4,220,892.35
^
Cost of Goods Sold 4,220,892.35
^
Note 6 - General and Administrative Expense
2018
John Paul C Dela Cruz: John Paul C Dela Cruz:
Utilities Expense How384,417.96
about the LPGCC gas?
This amount have input vat.
Depreciation Expense 23,200.81 Not all cash paid is treated
John
NotPaul C Dela expense
all utilities Cruz: as isexpense, part of it is
Rent Expense Nopart
John
113,760.00
permits
ofPaul and
gen.Candlicenses
Dela admin
Cruz:input vat
Amortization Expense renewals
expense. for
Where does the
5,100.00
Some succeding
this of it should
amount
John Paul C Dela Cruz: years?
came Please
from? check.
This refers
Supplies Expense
Should be Salaries and 11,915.99 CC to
leasehold improvements
Advertising
bonuses Expense
expense because but it is8,000.00
not disclosed p in
the 13th month is a bonus. 9,130.00
Organization Expense this sheet. Please present
Total
The 13th month pay of the 555,524.76
Note 7 - Payroll and Related Expenses
2018
Salaries Expense 725,243.22
SSS Contribution 70,722.00 John Paul C Dela Cruz:
Philhealth Contribution 12,450.00 Salaries are not consistent
Pag-Ibig Contribution 6,000.00 with chapter 2 table 2.2.
Total 814,415.22 Advice: Please update
chapter 2 table 2.2., its

Position John Paul C Dela Cruz:

Status Gross Salary
As per Chapter 2,
Manager S 20,042.10
One production
Assistant Manager S (Martin)
SUPERVISOR 18,954.00
Sales Representative S 16,791.84
Production Worker 1 S 16,251.30
Production Worker 2 S 16,251.30
Total 88290.54
^
Salaries Expense Schedule:
Position Daily Monthly

Manager 770.85 20042.10

Assistant Manager 729.00 18954.00
Sales Representative 645.84 16791.84
Total: 55787.94
^
Utilities Schedule:
Utilities Sources Monthly
Electricity Meralco 29394.53
Water Supply Prime Water 645.3
Internet Connection PLDT 1995.00
Total 32034.83
^
Raw Materials Purchased Schedule:
Ingredients Measure Cost Per Unit
Matcha Powder g 0.07
Ube Root Crop g 4.00
Cornstarch g 0.09
Butter g 0.14
White Sugar g 0.11
Corn Syrup ml 0.23
TOTAL 4.64

Projected Production
Year Unit Cost Daily
2018 4.64 2280
2019 4.64 2440
2020 4.64 2494
2021 4.64 2544
2022 4.64 2595

Projected Sales
 Year Unit Cost Daily
2018 8.00 2280
2019 8.00 2440
2020 8.00 2494
2021 8.00 2544
2022 8.00 2595

VAT Payable Schedule 2018

Output Tax 703,542.86 pJohn Paul C Dela Cruz:
Input Tax 481,111.20 This amount only refers to
VAT Payable 222431.66 input vat from purchase of
raw materials, other input
 2019 2020 2021
5389.58 p 5389.58 p 5389.58
4230.71 4230.71 4230.71
2295.70 2295.70 2295.70
7164.65 7164.65 7164.65
19080.64 19080.64 19080.64
John Paul C Dela Cruz:
Please change to "Supplies"

Quantity Where is the packaging Total Cost

p 3 supplies? p
Please check 840.00 <
p 3 495.00
p 2 p 696.00
p 3 p 105.00
p 2 p 90.00
p 5 p 125.00
p 2 p 96.00
p 5 p 750.00
p 10 p 35.00
p 5 p 763.60
p 2 p 237.98
5 p 1156.00
5389.58
^

p 3 597.00 <
p 10 p 1580.00
p 2 p 200.00
p 2 p 220.00
p 3 p 255.00
p 3 p 84.00
p 1 p 1019.71
p 5 p 225.00
p 5 p 50.00
4230.71
^

p 1 p 50.55 <
p 5 p 1818.00
p 5 p 427.15
aul C Dela Cruz: 2295.70
E? Yung cooking
John Paul C Dela Cruz: ^
namin more than
1 set not 3 units?
s na hehe.
p 4 p 3000.00 <
p 3 1099.98
p 3 p 1496.67
p 4 p 1568.00 John Paul C Dela Cruz:
7164.65 Input vat is not considered?
Please revise. Only a
 Input vat is not considered?
^ Please revise. Only a
portion of it should be
capitalize as supplies to be
Quantity Total Cost expensed in the period.
p 2 p 3996.00 <
3996.00

p 2 p 18590.00 <
p 3 p 5249.97
p 2 p 23396.00
p 2 p 38000.00
p 2 p 6401.88
p 1 p 7353.94
98991.79

p 2 p 4400.00 <
p 2 p 3000.00
p 2 p 4000.00
p 2 p 1416.48
12816.48

p 6 p 5700.00 <
p 4 p 5199.00
p 1 p 12464.00
John Paul C Dela Cruz:
Please double check the 23363.00
John Paul C Dela Cruz:
useful life. 139,167.27 Input vat on purchase of
^ PPE is not considered?
Please revise.

Annual
Useful Life Total
Depreciation

8 499.50 CC

10 1,859.00 CC
5 1,049.99
10 2,339.60
10 3,800.00
5 1,280.38
8 919.24

7 628.57 CC
7 428.57
5 800.00
7 202.35
13807.21

Rate 2018 2019

 15% 855.00 CC 726.75 CC
30% 1559.70 1091.79
60% 7478.40 2991.36
9893.10 4809.90
^ ^ John Paul C Dela Cruz:
John Paul C Dela Cruz: The way this is presented is
Please note that income wrong.
aul C Dela Cruz: 2019 thus,
tax is paid quarterly 2020
be carrying amount
aul p
C Dela Cruz: payable p
115,466.96
the income tax p
96,849.85 Should be
be current year amount that should be John Paul C Dela Cruz:
CC
ation expense not
18,617.11 CC 16,385.74
How about the SSS, CC
reflected here is for the 4th
lated depreciation. 96,849.85 80,464.11
Philhealth, Pag-ibig
contributions and
withholding tax payable?

2020 2021 2022

269057.44 274526.53 280021.46
139,744.54 151,215.46 162,682.34
408,801.98 425,741.99 442,703.80

aul C Dela Cruz: 2019 2020 2021

ne with table 3.10
d sales
7,026,048.00 7,182,984.96 7,327,465.46
752,790.86 CC 769,605.53 CC 785,085.58
6,273,257.14 IS 6,413,379.43 IS 6,542,379.87
^ ^ ^

2019 2020
200,463.00 PY 214,495.41 PY
4,089,445.20 4,171,234.10
4,289,908.20 4,385,729.51

214,495.41 219,286.48
4,075,412.79 4,166,443.04

CC
Paul C Dela Cruz:
390,031.20 CC 390,031.20 CC
e show computations 22,064.15 22,064.15
4,487,508.14 4,578,538.39

IS 4,487,508.14 IS 4,578,538.39 IS

Paul C Dela Cruz:

2019 2020 2021
amount have input vat. 392,106.32 CC 399,948.45 CC 407,947.41
ll cash paid is treated18,117.61 15,886.24 14,846.38
pense, part of it is
vat 113,760.00 113,760.00 113,760.00
5,100.00 5,100.00 5,100.00
11,915.99 CC 11,915.99 CC 11,915.99
8,000.00 p 8,000.00 p 8,000.00

548,999.92 554,610.68 561,569.79

 2019 2020
725,243.22 725,243.22
CC
John Paul C Dela Cruz: 70,722.00 CC 70,722.00 CC
Salaries are not consistent 12,450.00 12,450.00
with chapter 2 table 2.2. 6,000.00 6,000.00
Advice: Please update 814,415.22 814,415.22
John Paul C Dela Cruz:
chapter 2 table 2.2., its
Please add EC. Refer to the John Paul C Dela Cruz:
SSSSSS table besides this Phil Health
Please double check. Pag Ibig
ER schedule.
EE Apply to all ER Applies to allEE
employees ER
under bracket 9 as per Phil
1,178.70 581.30 250.00 250.00
Health cont. table 100.00
1,178.70 581.30 225.00 225.00 100.00
1,178.70 581.30 187.50 187.50 100.00
1,178.70 581.30 187.50 187.50 100.00
1,178.70 581.30 187.50 187.50 100.00
5893.50 1037.50 500.00
^ ^

Annually plus
13th month pay
CC 260,547.30 CC
246,402.00
218,293.92
725,243.22
^

Anually
352734.36 <
7743.6
23940
384417.96

Supply 2018 2019

864000 59616.00 < 60808.32 CC
864000 3456000.00 3525120.00
864000 76464.00 77993.28
864000 122880.00 125337.60
864000 96300.00 98226.00
864000 198000.00 201960.00
4009260.00 4089445.20
^

Monthly Annually Production

68400 CC 820,800.00 CC 3,808,797.00
73188 878,256.00 4,075,412.79
74823 897,873.12 4,166,443.04
76328 915,933.18 4,250,248.00
77855 934,256.98 4,335,276.76

Projected Sales
 Monthly Annually Sales
68400 CC 820800 CC 6,566,400.00
73188 878256 7,026,048.00
74823 897873 7,182,984.96
76328 915933 7,327,465.46
77855 934257 7,474,055.81

2019 2020 2021

Paul C Dela Cruz:
752,790.86 p 769,605.53 p 785,085.58
amount only refers to490,733.42 500,548.09 510,559.05
vat from purchase of262057.43 269057.44 274526.53
materials, other input
 2022
p 5389.58 p
4230.71
2295.70
7164.65
19080.64

n Paul C Dela Cruz:

t vat is not considered?
se revise. Only a
 t vat is not considered?
se revise. Only a
on of it should be
talize as supplies to be
ensed in the period.

<

<

<

<
n Paul C Dela Cruz:
t vat on purchase of
is not considered?
se revise.

2020 2021 2022

 617.74 CC 525.08 CC 446.32 CC
764.25 534.98 374.48
1196.54 478.62 191.45
2578.53 1538.67 1012.25
Paul C Dela Cruz: ^ ^ ^
ay this is presented is

2021 2022
be 80,464.11 p 65,118.23 p
15,345.88 CC 14,819.46 CC
65,118.23 50,298.77

2022
7,474,055.81
CC 800,791.69 CC
IS 6,673,264.11 IS
^

2021 2022
219,286.48 PY 223,697.26 PY
4,254,658.79 4,339,751.96
4,473,945.26 4,563,449.22

223,697.26 228,172.46
4,250,248.00 4,335,276.76

390,031.20 CC 390,031.20 CC
22,064.15 22,064.15
4,662,343.35 4,747,372.11

4,662,343.35 IS 4,747,372.11 IS

2022
CC 416,106.36 CC
14,319.96
113,760.00
5,100.00
CC 11,915.99 CC
p 8,000.00 p

569,202.31
 2021 2022
725,243.22 725,243.22
70,722.00 CC 70,722.00
12,450.00 12,450.00
6,000.00 6,000.00
814,415.22 814,415.22

Pag Ibig Total Deductions Salary After Tax

EE Deductions Deductions Withholding Net Pay
100.00 931.30 < 19,110.80 2,694.45 16,416.35
100.00 906.30 18,047.70 2,428.68 15,619.03
100.00 868.80 15,923.04 1,897.51 14,025.53
100.00 868.80 15,382.50 1,784.83 13,597.67
100.00 868.80 15,382.50 1,784.83 13,597.67
4444.00 83846.54 10590.30 73256.25
^

2020 2021 2022

62024.49 CC 63264.98 CC 64530.28 CC
3595622.40 3667534.85 3740885.54
79553.15 81144.21 82767.09
127844.35 130401.24 133009.26
100190.52 102194.33 104238.22
205999.20 210119.18 214321.57
4171234.10 4254658.79 4339751.96

John Paul C Dela Cruz:

Not in line with tabl 3.10
Not in line with tabl 3.10
projected sales. Please
check 875,520.00
936,806.40
957,731.33
976,995.39
996,540.77

2022
p 800,791.69 p
520,770.24
280021.46
 Financial Ratios
2017 2018 2019
Current Assets #################################
Divide by: Current Liabilities 304,039.10 388,757.59 408,801.98
Current Ratio 11.05 9.68 10.10

Quick Assets #################################

Divide by: Current Liabilities 304,039.10 388,757.59 408,801.98
Acid-Test Ratio 10.98 9.63 10.06

Total Debt: 304,039.10 388,757.59 408,801.98

Divide by: Total Assets #################################
Debt Utilization Ratio 8.70% 10.03% 9.69%

Total Debt: 304,039.10 388,757.59 408,801.98

Divide by: Total Equity #################################
Debt-Equity Ratio 9.53% 11.15% 10.72%

Profitability Ratios
2017 2018 2019
Gross Profit #################################
Divide by: Sales 6,566,400 7,026,048 7,182,985
Gross Profit Margin 25.01% 25.42% 25.54%

Net Income Before Tax 272,024.81 422,333.86 465,815.14

Divide by: Sales 6,566,400 7,026,048 7,182,985
Operating Profit Margin 4.14% 6.01% 6.48%

Net Income After Tax 190,417.37 295,633.70 326,070.60

Divide by: Sales 6,566,400 7,026,048 7,182,985
Net Profit Margin 2.53% 5.35% 9.55%

Net Income After Tax 190,417.37 295,633.70 326,070.60

Divide by: Average Total Assets #################################
Return on Assets 5.45% 7.63% 7.73%

Net Income After Tax 190,417.37 295,633.70 326,070.60

Divide by: Partner's Equity #################################
Retuirn on Equity 5.97% 8.48% 8.55%

Net Income 190,417.37 295,633.70 326,070.60

Divide by: Long Term Liab and Equity #################################
Return on Investment (164,667.27) 7.63% 7.73%
 2020 2021
######################
425,741.99 442,703.80
10.62 11.15

######################
425,741.99 442,703.80
10.57 11.11

425,741.99 442,703.80
######################
9.27% 8.88%

425,741.99 442,703.80
######################
10.22% 9.74%

2020 2021
######################
7,327,465 7,474,056
25.66% 25.77%

504,051.52 542,274.47
7,327,465 7,474,056
6.88% 7.26%

352,836.06 379,592.13
7,327,465 7,474,056
13.41% 16.97%

352,836.06 379,592.13
######################
7.69% 7.61%

352,836.06 379,592.13
######################
8.47% 8.35%

352,836.06 379,592.13
######################
7.69% 7.61%
Sales
Sales each year increases by 2% due to demand and will be sold through cash only

Purchases
Purchases each year increases by 2%

Pricing
Selling price of each candy is derived from 40% profit margin above cost with
Vat inclusion or Output Tax of 12%

Inventories
Periodic system of accouting for inventories is used.
No Finished Goods recorded due to the fact all goods produced are sold based on production
5% of Raw materials will be allocated as ending inventory

Depreciable Assets
There are no provision for salvage value. Thus, straightline method is used for
Machineries used for Process, Furnitures and Fixtures, Electrical Equipment.
Safety Equipments are depreciated using declining balance method.

Utilities Expense
Utilities Increases 2% every year.

Advertising Expense
Total Advertising Expense is fixed.

Profit or Loss Sharing

Annual net income or net loss will be divided equally or 20%

Accounting Period
(blank) company will operate on calendar year basis accounting period, ending December 31.