March April May

Revenue every Monday for the Whole Month ok Zero

Monthly Input Expense ok Zero
Utilities ok Zero
Payroll every 15th and 30th (to Trial Balance) ok At Contri
Allowance of Trainees - Zero
Monthly Rental Expense ok ok
Monthly Depreciation Expense ok ok
Monthly 1601c ok At Contri
Monthly 0169E - ok
Monthly 2550M - ok
Monthly 2550Q - ok
Quarterly 0619 EQ ok -
Quarterly 1701Q 14-Jun -
Remittance of Monthly INPUT VAT Expense
Remittance of Withholding Tax on Compensation
Remittance of Withholding Income Tax - Expanded
Monthly Professional Fee ok ok
Remittance of SSS, PhilHealth, PAGIBIG
Payment of Audited FS ok -
Submission of FS to BIR (June 14 - new deadline) - -

Workback on Mar payroll

COMPANY NAME
(YEAR) TRIAL BALANCE

REVENUE

Particulars
Date Balancing Selling Activities Interest Income
Debit (+)
Credit (-)

- -
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EXPENSES

Salaries, Wages Utilities Taxes and

Rent Expense Input VAT Supplies Representation Depreciation Transportation
and Allowance Expense licenses

- - - - - - - - -
 ASSETS

SSS PhilHealth 13th Month Interest Income Tax

Professional Fee HDMF Cash
Contrbution Contribution Pay Expense Expense

- - - - - - - -
 LIABILITIES

Withholding tax
Accounts Office Trade and Other
Prepaid Rent SSS payable Philhealth payable HDMF payable payable-
Receivable Equipment Payables
compensation

- - - - - - - -
 EQUITY

Loan Creditable
Post
Remittance Income Tax Cash advance Salaries
Employment VAT Payable Owner's Equity
Payable to Withheld from employees payable
Benefits
SSS (Expanded)

- - - - - - -
COMPANY NAME
Balance Sheet
8/5/2020

(YEAR)

ASSETS

Current assets
Cash (Note 3) P -
Prepaid Rent -
Accounts Receivable (Note 4) -
-

Non-current assets
Office Equipment (Note 5) -

TOTAL ASSETS P -

LIABILITIES
Current liabilities
Trade and Other Payables (Note 6) P -
Cash advance from employees -
Salaries Payable -
-

Non Current liabilities

Post Employment Benefits P -
-

-
TOTAL LIABILITIES

OWNER’S EQUITY -

-
TOTAL LIABILITIES AND OWNER’S EQUITY P

See accompanying notes to financial statements

 COMPANY NAME
INCOME STATEMENT
8/5/2020

(YEAR)

REVENUE
Selling activities (Note 2) P -
Interest Income -
Total -
-
DIRECT COST (Note 2 and 7)

-
GROSS INCOME

OPERATING EXPENSES
Input VAT -
Supplies -
Utilities Expense -
Taxes and licenses -
Representation -
Depreciation -
Transportation -
Professional Fees -
Interest Expense -
-
-
INCOME BEFORE INCOME TAX

-
INCOME TAX EXPENSE

-
NET INCOME FOR THE YEAR

-
OTHER COMPREHENSIVE INCOME

-
TOTAL COMPREHENSIVE INCOME P

See accompanying notes to financial statements

COMPANY NAME
(YEAR) PAYROLL ENTRY

DEBIT

Salaries and 13th month

SSS Philhealth HDMF
wages pay
Payroll Date Balancing
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
CREDIT
Loan Post
Withholding
Philhealth HDMF Remittance Cash advance Salaries
SSS payable tax payable-
Payable to
Employment
payable payable compensation to employees Payable
SSS Benefits
Cash In Bank
1601c for 2020
PART II - COMPUTATION OF TAX

PARTICULARS/ DATE FILED Jan 1, 2020

14 Total Amount of Compensation

LESS: NON TAXABLE/ EXEMPT COMPENSATION
15 Statutory MWEs
16 Holiday Pay, OT Pay, Night Shift Diff, Hazard Pay (for MWE only)
17 13th Month Pay and Other Benefits
18 De Minimis Benefits
19 SSS,GSIS, PHIC, HDMF Mandatory Contrib. and Union Dues
20 Other Non-Taxable Compensation (Specify: ALLOWANCES)
21 TOTAL NON TAXABLE COMPENSATION -

22 TOTAL TAXABLE COMPENSATION -

Less: Taxable Compensation not Subject to Withholding Tax (for Employees receiving
23 not more that 250,000) -
24 NET TAXABLE COMPENSATION -
25 TOTAL TAXES WITHHELD
26 Add/Less: Adj. of Tax Withheld -
27 Taxes Withheld for Remittance -
28 Less: Tax Remitted in Return Previously Filed, if this is an ammended return -
29 Other Remittances Made (Specify) -
30 Total Tax Remittane Made -
31 TAX STILL DUE -
ADD: Penalties
32. Surcharges -
33. Interest -
34. Compromise -
35. Total Penalties -
36 TOTAL AMOUNT STILL DUE -
Feb 1, 2020 Mar 1, 2020 Apr 1, 2020 May 1, 2020

- - - -

- - - -

- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
2550Q for 2020

PART II - COMPUTATION OF TAX 1ST QUARTER

A B
17 Zero-Rated Sales
19 Total Sales/Receipts and Output Tax Due - -
20 Less: Allowable Input Tax
20A: Input Tax Carried Over from Previous Period -
20B: Input Tax Deferred on Capital Goods -
20C: Transitional Input Tax -
20D: Presumptive Input Tax -
20E: Others -
20F: Total -
21 Current Transactions Purchases
21 A/B Cap Goods not exceeding 1M - -
21 C/D Cap Goods exceeding 1M - -
21 E/F Domestic Purchase other than Cap Goods -
21 G/H Importation of Goods other than Cap Goods - -
21 I/J Domestic Purchase of Service -
21 K/L Services rendered by Non-residents - -
21 M Purchases Not Qualified for Input Tax - -
21 N/O Others - -
21 P Total Current Purchases - -
22 Total Available Input Tax -
23 Less: Deductions from Input Tax
23 A Input Tax on Purchases of Cap Goods -
23 B Input Tax on Sale to Govt. closed to Expenses -
23 C Input Tax Allocable to Exemp Sales -
23 D VAT Refund/ TCC Claimed -
23 E Others -
23 F Total -
24 Total Allowable Input Tax -
25 Net VAT Payable -
26 Less: Tax Credits/ Payments
26 A Monthly VAT Payments -
26 B Creditable VAT Withheld -
26 C Advance Payment for Sugar and Flour Industries -
26 D VAT Withheld on Sales to Gov -
26 E VAT Paid in return previously filed (if Ammended) -
26 F Advance Payments Made -
26 G Others -
26 H Total Tax Credits/ Payments -
27 Tax Still Payable/ (Overpayment) -
28 Add Penalties
Surcharge: ___ Interest: _____ Compromise: _____ -
29 TOTAL AMOUNT PAYABLE -
2550M for 2020

PART II - COMPUTATION OF TAX (period)

A B
14 Zero-Rated Sales
16 Total Sales/Receipts and Output Tax Due - -
17 Less: Allowable Input Tax
17A: Input Tax Carried Over from Previous Period -
17B: Input Tax Deferred on Capital Goods -
17C: Transitional Input Tax -
17D: Presumptive Input Tax -
17E: Others -
17F: Total -
18 Current Transactions Purchases
18 A/B Cap Goods not exceeding 1M - -
18 C/D Cap Goods exceeding 1M - -
18 E/F Domestic Purchase other than Cap Goods - -
18 G/H Importation of Goods other than Cap Goods - -
18 I/J Domestic Purchase of Service - -
18 K/L Services rendered by Non-residents - -
18 M Purchases Not Qualified for Input Tax - -
18 N/O Others - -
18 P Total Current Purchases - -
19 Total Available Input Tax -
20 Less: Deductions from Input Tax
20 A Input Tax on Purchases of Cap Goods -
20 B Input Tax on Sale to Govt. closed to Expenses -
20 C Input Tax Allocable to Exemp Sales -
20 D VAT Refund/ TCC Claimed -
20 E Others -
20 F Total -
21 Total Allowable Input Tax -
22 Net VAT Payable -
23 Less: Tax Credits/ Payments
23 A Monthly VAT Payments -
23 B Creditable VAT Withheld -
23 C VAT Withheld on Sales to Gov -
23 D VAT Paid in return previously filed (if Ammended) -
23 E Advance Payments Made -
23 F Others -
23 G Total Tax Credits/ Payments -
24 Tax Still Payable/ (Overpayment) -
25 Add Penalties
Surcharge: ___ Interest: _____ Compromise: _____ -
26 TOTAL AMOUNT PAYABLE -
0619-E
PART II - TAX REMITTANCE

Jan 2020 Feb 2020

14 Amount of Remittance
15 Less: Amount Remitted from Previuosly Files Form (if amended)
16 Net Amount of Remittance - -
17 Add: Penalties
17A Surcharge - -
17B Interest - -
17C Compromise - -
17D Total Penalties - -
18 Total Amount of Remittance - -
Mar 2020 Apr 2020 May-20

- - -

- - -
- - -
- - -
- - -
- - -
1701Q
PART III : TOTAL TAX PAYABLE
1st QUARTER
A) Taxpayer/Filer B) Spouse
26 Tax Due - -
27 Less: Tax Credits - -
28 Tax Payable (Over Payment) - -
29 Add: Total Penalties - -
30 Total Amount Payable/(Overpayment) - -
31 Aggregate Amount Payable/ Overpayment) -

PART IV: DETAILS OF PAYMENT

Date Amount
32 Cash/Bank Debit Memo
33 Check
34 Tax Debit Memo
35 Other (Specify)

PART V: COMPUTATION OF TAX DUE

SCHEDULE I: FOR GRADUATED IT RATE A) Taxpayer/Filer B) Spouse
36 Sales/Revenues/Receipts/Fees -
37 Less: Cost of Sales/Services 913,093.30
38 Gross Income/(Loss) from Operations (913,093.30) -
Less: Allowable Deductions
39 Total Allowable Itemized Deductions 28,842.85
OR
40 Optional Standard Deduction (OSD)
41 Net Income/(Loss) (941,936.15) -
Add: 42 Taxable Income/(Loss) Previous Quarters -
43 Non-operating Income (Specify) -
44 Amount Received/Share in Income Parter… -
45 Total Taxable Income/ (Loss) To Date (941,936.15) -
46 TAX DUE - -

SCHEDULE III: TAX CREDITS/PAYMENTS

55 Prior Year's Excess Credits
56 Tax Payment/s for the Previous Quarters
57 Creditable Tax Withheld for the Previous Quarters
58 Creditable Tax Withheld per BIR Form 2307 for this Q
59 Tax paid in Return Previously Filed (if ammended)
60 Foreign Tax Credits (if applicable)
61 Other Tax Credits/ Payments
62 Total Tax Credits/ Payments - -
 63 TAX PAYABLE/(OVERPAYMENT) - -
SCHEDULE IV: PENALTIES
64 Surcharge
65 Interest
66 Compromise
67 TOTAL PENALTIES - -

68 TOTAL AMOUNT PAYABLE/(LOSSES) - -

 Useful Life (5 Monthly
Date Purchased Particulars Cost yrs) Depreciation
Office Equipment 1 60 0.00
Office Equipment 2 60 0.00
TOTAL 0.00
End of useful Life