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YEAR 2013

WORKING TRIAL BALANCE
TRANSACTIONS
Debit
Credit
Cash
196,048.24
Raw Materials Purchases
257,892.84
Prepaid Rent
45,000.00
Machineries and Equipment
55,436.00
Furniture and Fixtures
23,935.00
Kitchen Tools and Utensils
4,315.00
Office Tools
409.00
Accumulated Depreciation-M & E
Accumulated Depreciation-F & F
Accrued Expenses
Utilities Payable
Withholding Tax-Salaries
Income Tax Payable
VAT Payable
Withholding Tax Payable-Expanded Suppliers
Garalde, Elena May G.
Santiago, Juan Daniel A.
Sapit, Jessica Hope L.
Withdrawals
175,000.00
Sales
Raw Materials
256,239.68
Direct Labor
43,664.40
Factory Overhead
Salaries and Wages
60,940.62
Employees Benefits
22,272.12
Rent
144,000.00
Utilities
23,400.00
Repairs & Maintenance
3,000.00
Spoilage
17,596.80
Depreciation
7,769.60

INCOME STATEMENT
Debit
Credit

BALANCE SHEET
Debit
Credit
196,048.24
1,653.16
45,000.00
55,436.00
23,935.00
4,315.00
409.00

256,239.68

10,752.20
4,787.00
3,900.00
1,223.61

10,752.20
4,787.00
3,900.00
1,223.61

8,205.39
750.00
140,000.00
140,000.00
140,000.00

8,205.39
750.00
140,000.00
140,000.00
140,000.00
175,000.00

1,032,345.60

1,032,345.60
256,239.68
43,664.40
60,940.62
22,272.12
144,000.00
23,400.00
3,000.00
17,596.80
7,769.60

Miscellaneous
Selling & Administrative
Professional fee
Salaries & Wages
Employees Benefit
Rent
Office Supplies
Cleaning Materials
Utilities
Miscellaneous
Depreciation
Amortization
Advertising Expense
Organizational Cost
Permits and Licenses
Total

14,000.00

14,000.00

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00
3,721.00
23,400.00
6,000.00
7,769.60
5,266.53
5,619.00
5,219.60
4,961.00
1,743,486.76

42,000.00
203,231.82
42,506.92
36,000.00
6,872.00
3,721.00
23,400.00
6,000.00
7,769.60
5,266.53

(62,694.51)

1,032,345.60

5,619.00
5,219.60
4,961.00
517,596.00

1,032,345.60

517,596.00

5,266.53
1,743,470.01

16.75
15,799.60
5,266.53

969,651.09
62,694.51
1,032,345.60

16.75

5,266.53
454,884.73
62,711.26
517,596.00

058.000.44 43.000.664.52 750.00 1.26 750.64 7.095.752.72 7.220.205.61 1.61 1.57 9.570.84 8.664.40 279.000.YEAR 2014 TRANSACTIONS Debit Credit 8.62 22.61 9.00 25.630.185.00 132.00 1.154.00 3.769.00 24.798.872.50 3.630.72 7.64 7.00 20.61 10.887.000.52 750.56 3.44 10.00 4.20 4.223.787.80 272.00 18.664.24 TRANSACTIONS Debit Credit 76.272.791.00 18.223.75 1.40 279.769.459.272.61 1.00 20.12 144.940.880.666.40 60.62 22.20 4.664.52 750.00 1.12 144.60 60.62 22.900.00 50.20 4.787.60 .00 4.12 144.000.40 272.166.570.50 3.036.00 4.12 144.752.798.095.058.186.223.940.185.84 8.666.00 50.44 43.205.752.24 1.791.54 43.880.39 750.769.48 279.00 24.000.62 22.272.300.769.00 1.88 272.39 750.12 272.791.54 10.00 9.00 1.00 3.798.00 1.60 60.954.00 1.00 25.223.54 43.940.272.80 96.710.223.900.154.300.798.000.60 60.61 3.00 4.787.00 INCOME STATEMENT Debit 279.299.036.00 INCOME STATEMENT Debit Credit YEAR 2015 BALANCE SHEET Debit Credit 8.27 10.940.872.095.223.185.666.

92 36.00 203.38 3.24 74.300.000.506.00 15.76 (16.266.40 1.769.00 203.154.421.868.506.18 23.300.000.82 42.019.866.266.64 1.53 1.53 4.266.53 5.53 4.367.00 7.44 25.60 5.89 74.32 4.769.75 24.76 5.60 38.000.366.231.885.000.506.435.92 36.44 25.75) 36.18 42.435.80 5.108.928.92 36.76 1.14.86 24.266.00 203.00 7.00 14.00 7.60 5.24 74.00 7.00 6.866.005.77 1.059.537.40 1.018.928.268.000.96 1.220.54 5.92 36.615.53 23.000.00 7.018.798.00 6.033.266.058.462.53 5.00 7.886.231.00 42.53 24.24 42.462.87 38.266.537.141.56 1.82 42.296.79 1.50 6.769.570.00 203.421.643.141.82 42.60 5.798.00 7.00 7.96 1.38 3.769.570.988.506.890.643.00 15.108.231.77 16.058.000.154.60 5.048.048.80 42.928.231.700.886.000.50 6.32 186.700.154.615.266.32 4.82 42.186.058.88 .86 24.

00 27.26 750.74 1.131.957.08 23.787.60 63.60 287.72 10.166.250.34 4.43 3.90 45.946.200.088.186.76 750.61 1.16 144.61 5.131.48 43.589.223.000.16 144.200.957.YEAR 2015 INCOME STATEMENT Credit YEAR 2016 BALANCE SHEET Debit Credit 76.752.00 4.131.993.00 4.769.223.00 27.946.787.221.26 750.954.00 11.72 10.00 21.00 21.00 INCOME STATEMENT Debit Credit 44.221.168.75 1.00 132.66 7.223.168.90 10.14 47.185.606.00 TRANSACTIONS Debit Credit 44.66 7.72 1.589.20 4.318.299.73 4.769.43 3.74 1.72 287.78 10.514.61 10.14 287.76 750.57 9.299.250.52 750.00 1.394.00 4.75 1.00 155.694.000.00 1.088.90 45.20 4.752.993.000.694.606.75 1.88 BALANCE SHEET Debit Credit 155.318.459.394.179.89 287.00 1.61 5.00 .00 4.514.220.20 4.223.954.60 10.26 750.752.954.60 63.299.787.08 23.34 11.095.

64 5.56 224.061.246.250.65 1.91 38.571.37 (0.401.712.175.00) 33.91 27.000.086.246.37 1.250.000.39 189.220.75 7.571.186.97 27.00 7.37 .33 1.97 27.00) (0.24 4.769.088.76 36.712.72 223.028.250.43 6.220.000.608.923.731.75 42.175.945.923.60 42.221.00 212.00 212.816.76 36.53 1.923.816.088.88 224.945.608.43 6.00 7.890.694.24 4.033.32 44.186.75 16.694.16.88 224.401.72 4.65 1.33 223.72 223.04 189.35 186.52 1.75 7.32 44.60 4.206.028.000.266.52 1.221.206.769.91 1.731.028.694.64 27.420.

740.394.34 5.16 144.000.688.752.752.442.06 47.06 294.00 4.787.279.00 1.11 45.769.34 5.688.17 4.00 INCOME STATEMENT Debit Credit BALANCE SHEET Debit Credit 164.000.424.11 45.74 1.25 11.589.514.521.00 .08 23.424.474.394.589.394.85 4.442.117.957.34 13.30 24.20 4.60 63.168.06 294.392.740.76 750.08 23.394.787.45 7.34 4.000.25 11.40 294.40 1.957.74 1.117.00 13.474.394.769.221.76 750.20 4.00 195.00 28.47 1.221.60 294.889.394.00 195.60 10.85 4.889.47 1.00 4.45 7.30 24.392.168.514.474.55 750.YEAR 2017 TRANSACTIONS Debit Credit 164.279.000.16 144.11 10.55 750.60 63.00 28.

339.00 8.816.394.430.394.60 3.32 44.00 212.07 1.56 347.09 17.76 36.293.424.769.85 7.65 383.07 - 1.505.442.00 8.40 383.541.424.00 212.21 .505.754.56 4.401.837.014.88 1.293.837.394.85 7.04 7.67 28.410.424.017.09 42.000.56 4.963.000.963.424.75 347.410.17.017.442.40 - 383.40 3.76 36.85 28.60 42.85 28.769.424.754.014.401.67 28.339.505.816.65 1.076.000.32 44.000.21 35.21 1.04 7.88 1.

00 203.00 42.048.798.436.00 60.202.00 5.82 42.506.38 42.000.935.219.036.00 1.STATEMENT OF CASHFLOWS YEAR 2013 Cash Balance.570.940.18 4.40 24.141.710.82 42.272.50 3.421.596.664.00 7.892.000.231.448.120.630.798.872.315.80 23.00 18.00 7.000.00 257.00 409.62 22.12 144.92 36.000.664. Beginning Cash Inflows: Cash Input Sales Total Cash Inflows Cash Outflows: Advertising Expense Organizational Cost Permits and Licenses Capital Expenditures Prepaid Rent Machineries and Equipment Furniture and Fixtures Kitchen Tools and Utensils Office Tools Raw Materials Purchases Direct Labor Factory Overhead Salaries and Wages Employees Benefits Rent Utilities Repairs & Maintenance Spoilage Miscellaneous Selling & Administrative Professional fee Salaries & Wages Employees Benefit Rent Office Supplies YEAR 2014 YEAR 2015 420.00 6.00 17.00 23.00 24.00 3.12 144.62 22.643.27 43.961.00 42.000.72 14.00 55.400.000.000.60 4.231.700.940.462.84 43.00 203.00 5.82 42.435.32 .506.40 272.40 279.231.000.000.173.000.619.96 45.576.506.56 43.00 1.80 14.12 144.00 3.000.64 15.62 22.92 36.00 4.000.00 20.940.92 36.272.300.664.386.00 5.00 203.000.00 23.108.40 60.272.00 1.00 60.00 25.887.

84 152.86 24.829.00 750.702.208.900.00 1.61 4.515.00 23.14 Withdrawals by partner Total Cash outflows 1.222.411.000.14 .00 1.299.61 Accrued Expenses Utilities Payable 3.00 6.50 6.40 175.167.217.00 204.00 750.24 3.00 6.52 9.62 8.459.61 4.00 Payment of Income tax Payment of VAT 8.018.774.61 3.75 10.90 50.570.00 140.48 195.57 175.327.615.880. ending utilities wtax-salaries 196.75 NET CASH IN(OUTFLOWS) Cash balance.166.00 1.223.607.872.Cleaning Materials Utilities Miscellaneous Withholding Tax Payable-Expanded Suppliers 750.866.803.900.223.300.80 76.215.13 3.00 1.185.61 4.26 1.223.344.798.223.00 1.00 1.44 25.00 1.00 1.000.75 4.095.095.52 1.403.223.00 1.400.954.000.33 750.721.000.048.64 132.574.00 Witholding Tax Payable-Salaries 1.00 750.

000.32 44.00 5.000.570.00 3.32 44.798.421.82 42.872.120.92 35.64 15.000.036.000.72 14.424.179.80 24.401.00 1.940.12 144.401.000.940.60 45.30 24.00 212.21 42.85 4.120.00 5.50 3.00 24.000.84 43.816.88 5.00 2015 196.957.00 27.887.38 42.56 42.40 279.892.386.108.250.00 23.318.56 43.435.400.12 144.40 4.000.000.96 4.18 23.000.000.961.00 1.00 257.000.64 3.00 23.664.618.00 3.75 63.088.279.664.173.008.80 14.17 45.00 1.00 1.40 272.576.000.589.000.700.00 7.202.957.32 .00 42.017.24 204.231.935.993.00 42.00 409.00 1.244.00 6.619.315.392.00 60.000.00 7.421.141.45 17.576.00 7.506.816.00 287.00 212.00 21.00 203.448.710.000.09 60.593.00 18.630.00 25.08 23.168.60 4.386.521.43 3.837.92 36.219.00 28.78 45.000.00 1.921.00 60.231.506.00 202.00 17.00 4.27 43.24 42.048.000.16 144.00 55.60 294.272.92 36.00 203.66 16.52 28.000.16 144.00 1.300.272.00 8.76 36.62 22.82 42.272.448.731.596.048.202.712.798.506.40 63.206.04 420.221.08 23.168.00 20.76 36.630.940.436.85 27.62 22.643.YEAR 2016 YEAR 2017 2013 2014 - 1.12 144.462.014.589.664.442.62 22.

394.459.000.457.740.048.175.04 281.116.04 750.14 214.00 19.00) .945.921.38 50.67 28.330.439.921.75 5.97 27.889.380.721.84 143.55 1.25 205.048.99 170.620.00 3.57 164.514.750.606.593.00 1.73 - 4.638.397.74 11.24 204.06 196.514.442.00 6.615.30 (0.632.299.293.394.44 25.503.000.75 6.24 1.36 4.00 1.80 1.688.500.84 44.54 155.04 0.018.866.43 6.310.300.00 132.00 6.743.088.575.048.38 132.00) (0.00) (0.76 1.223.74 0.00 196.61 4.34 4.47 13.00 1.75 750.872.000.24 204.00 1.375.00 1.339.124.00 4.394.880.473.166.221.00 1.34 4.00 1.26 175.193.394.071.200.52 76.000.86 24.48 164.552.70 3.72 181.000.76 196.85 7.00 1.20 8.00 281.51 225.74 5.946.178.36 195.51 750.380.34 4.117.00 1.

00 4.179.64 27.00 1.000.78 45.52 3.000.279.85 28.00 212.221.957.618.00 1.318.16 144.66 16.424.51 326.421.993.59 44.000.168.392.618.75 63.00 28.206.731.45 17.00 1.000.957.000.244.08 23.56 .30 24.630.712.66 1.326.76 36.816.76 36.16 144.630.017.60 294.589.014.43 3.000.17 45.08 23.00 7.401.85 4.088.88 287.589.00 27.442.230.521.60 63.816.2016 2017 281.837.00 212.09 42.421.168.00 8.244.00 21.32 44.24 42.380.

72 170.946.339.200.873.11 7.86 44.00) 491.00 1.25 192.14 5.293.67 28.44 6.215.217.72 326.945.740.175.376.606.97 26.453.339.72 (0.4.06 326.75 4.688.66 (0.66 491.326.81 195.000.215.78 155.00 1.326.889.04 5.297.00) .281.94 164.00) (0.

92 36.42 596.70 38.231.88 623.141.53 376.00 7.12 1.421.108.34 2015 1.60 5.266.000.643.231.92 36.283.774.22 439.462.448.18 23.000.07 181.000.975.866.880.615.506.90 446.000.51 1.044.293.769.719.60 5.00 3.38 2014 1.166.883.00 7.300.40 407.80 24.84 .24 612.00 203.00 144.018.72 60.82 42.00 7.96 409.058.000.53 5.00 166.40 1.00 203.400.56 5.00 6.82 42.345.68 37.885.220.82 42.223.576.000.50 6.462.00 23.84 42.506.000.92 36.76 1.60 592.186.00 6.44 25.389.606.032.60 5.266.386.570.320.890.64 1.00 7.694.32 4.87 62.00 203.769.769.46 42.90 186.38 3.00 140.53 4.798.00 6.813.57 42.173.120.86 24.154.721.202.109.266.048.231.211.767.506.00 7.INCOME STATEMENT Sales(inclusive of VAT) Output VAT Net Sales Less: Cost of Sales(exclusive of VAT) GROSS PROFIT Selling & Administrative Expenses Professional fee Salaries & Wages Employees Benefit Rent Office Supplies Cleaning Materials Utilities Miscellaneous Depreciation Amortization Advertising Expense Permits and Licenses Total Net Income before tax Provision for Percentage Tax Net Income after tax 2013 1.872.

442.712.08 337.524.28 1.97 27.837.608.769.67 28.76 36.40 653.339.000.963.769.60 4.394.2016 1.945.920.88 423.17 610.24 4.85 7.401.52 420.244.32 44.438.000.424.250.60 42.000.304.17 42.25 3.74 .91 183.00 212.340.223.235.04 7.731.471.549.618.293.090.088.221.22 189.863.43 6.630.00 8.72 640.00 170.688.421.76 36.85 28.401.64 27.816.65 10.424.00 212.60 1.694.23 771.00 7.75 7.000.00 194.014.55 2017 1.816.52 347.56 4.32 44.175.33 5.

89 112.20 68.000.000.306.573.00 68.427.00 132.844.427.20 61.271.427.00 33.23 12.271.00 152.13 Santiago.20 148.25 110.02 25.00 100.00 110.89 112.89 185.000.23 12.23 50.000.272.887.23 12.89 33. Beginning Balance Income Withdrawals Ending Balance 140.272.000.271.200.573. Juan Daniel A.271.23 65.89 152.508.000.087.844.23 60.200.378.578.573.378.000.271. Jessica Hope L.00 .25 40.00 148.23 110.00 87.271.25 60.00 155.00 258.00 185.000.578.000.00 20.578.69 96.2013 CHANGES IN PARTNER'S EQUITY 2014 2015 2016 2017 Garalde.844.23 100.000.844.95 20.00 195.69 24.02 10.20 61.000.20 126.000.844.272.271.000.087.89 112.25 107. Elena May G.00 50.25 60.508.000. Beginning Balance Income Withdrawals Ending Balance 140.578.23 95. Beginning Balance Income Withdrawals Ending Balance 140.000.00 95.00 20.20 61.272.00 107.00 219.13 Sapit.271.271.000.13 175.000.000.000.95 32.95 80.00 97.306.00 36.000.25 97.844.25 87.02 15.306.25 60.69 35.25 45.508.00 126.272.272.000.00 20.

095.880.272.39 Withholding Tax-Salaries 1.00 373.555.514.00 23.272.51 1.959.166.436.57 9. Santiago.67 TOTAL LIABILITIES AND CAPITAL321.477.68 95.80 Other Assets Pre-Operating Cost 10.813.52 1.223.61 Withholding Tax Payable-Expanded Supplier 750.26 1.436.00 140.844.00 22.00 Less:Accumulated Depreciation 15.271.223.921.75 5.00 84.00 305.095.60 37.76 1.04 1.935.75 97.00 Total Liabilities 15.92 395.75 0.84 132.08 155.40 53.844.00 140.24 Inventory 1.51 309.32 281.326.23 37.00 342.2013 Balance Sheet 2014 2015 2016 204.000.00 Total Fixed Asset 84.26 55.52 326.34 750.23 100. Sapit.00 293.28 45.167.954.606.000.266.900.935.23 110.25 87.45 365.68 175.315.953.74 5.813.00 328.016.000.650.532.00 409.105.156.00 16.205.935.20 148.00 84.920.00 409.773.00 Furnitures and Fixtures 23. Jessica Hope L.650.00 4.00 409.380.00 60.105.283.45 365.01 45.935.095.185.00 1.653.173.394.844.790.617.00 Office Tools 409.00 4.00 Total Current Asset 242.436.92 395.70 4.09 140.00 371.75 - .000.000.000.000.000.34 4. Elena May G.07 50.00 Partner's Equity Garalde.25 107.420.00 46.315.834.840.221.436.20 68.701.00 251.816.000.40 55.315.20 5.539.00 31.719.223.66 1.72 10.315.749.00 23.533.61 750.078.84 VAT Payable 8.59 126.00 23.84 4.20 183.00 23.80 21.00 Kitchen Tools and Utensils 4.000.75 LIABILITIES AND CAPITAL Liabilities Accrued Expense Utilities Payable 3.00 4.20 Net Book Value 68.200.25 181.688.271.536. Juan Daniel A.095.953.00 0.793.095.07 TOTAL ASSETS 321.40 Fixed Asset Machineries and Equipment 55.00 62.569. Add:Net Income Less:Withdrawal Total Capital 16.670.55 ASSET Current Asset Cash 196.61 750.048.271.25 11.16 Prepaid Rent 45.00 84.00 Income Tax Payable 1.90 45.938.272.60 55.299.53 309.

524.578.40 544.502.89 185.117.740.000.67 55.394.000.095.55 1.00 4.89 337.441.96 45.00 538.00 514.00 30.00 77.215.378.578.74 195.89 33.00 23.935.00 409.438.436.47 10.67 - .27 152.34 750.061.00 84.502.696.887.399.103.67 4.2017 491.72 1.315.00 544.00 6.91 13.

22 6.386.802.65% Rate of Return on Sales 15.14 Year 2013 2014 2015 2016 2017 Gross Profit Ratio Gross Profit Net Sales 439.86 1.52 22.95% 47.10 3.00 469.34 1.72 30.618.84 251.448.959.701.569.552.215.10% 43.630.48 12.00 370.00 315.83 17.090.68 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! .74 3.24 15.21 3.23 6.90 6.32 13.45 Working Capital Turnover Cost of Sales Operating Expense Average Working Capital 592.04 16.19 1.618.240.00 446.630.420.46 1.244.46% 37.834.576.38 1.304.834.883.462.70 281.109.37 15.00 596.55 1.044.28 12.17 6.66 23.921.120.00% 42.552.240.51 22.84 204.09 538.17 1.16 3.34 373.441.420.421.448.167.81 4.34 326.27 12.09 491.959.173.40 15.975.00 37.223.244.27 Year 2013 2014 2015 2016 2017 Quick Ratio Cash Current Liability 196.173.103.380.00 612.670.048.32 16.441.326.576.202.00 640.120.33 14.386.70 328.34 1.00 380.00 653.00 771.378.21 15.421.569.00 Year 2013 2014 2015 2016 2017 Current Ratio Current Assets Current Liabilities 242.67 30.211.202.42 6.240.804.471.55 23.85 16.895.Year 2013 2014 2015 2016 2017 Year 2013 2014 2015 2016 2017 Asset Turnover Net Sales Average Total Assets 1.00 623.00 610.13 1.00 337.173.871.

906.813.67% 48.00 1.673.244.07 #DIV/0! 181.23 Year 2013 2014 2015 2016 2017 Rate of Return on Assets Net Income Average Total Asset 60.719.00 6.524.74 469.386.68 362.871.173.08 380.378.74 #DIV/0! 51.34 337.08 337.84% Year 2013 2014 2015 2016 2017 Net Sales 1.813.920.07% 12.883.283.00 1.524.283.240.920.719.14% 13.421.07 299.17 653.044.07 315.59% 53.85% Year 2013 2014 2015 2016 2017 Cost of Sales 592.244.719.813.22 612.813.895.202.00 1.75% .08 #DIV/0! 337.94% 20.00 5.00 1.08 380.74 Net Sales 1.090.552.13 37.448.576.21 181.84 183.45% 45.74 469.975.802.386.00 6.07% 51.76% 12.21 16.68 37.630.35% 71.524.920.42 640.90 623.94% 53.240.283.84 337.283.576.00 1.802.120.00 1.68 #DIV/0! 37.421.40% 11.18% 3.34 337.67% 48.42% 45.51% 40.804.804.00 1.07 181.84 #DIV/0! 183.378.618.223.00 Rate of Return on Working Capital Net Income Average Total Working Capital 60.68 370.920.524.202.19 183.19 183.00 1.240.84% Year 2013 2014 2015 2016 2017 Rate of Return on Owner's Equity Net Income Average Total Owner's Equity 60.00 6.84 337.Year 2013 2014 2015 2016 2017 Net Income 60.719.00 Operating Ratio Operating Expense 6.552.35% 71.448.618.21 16.630.86 181.00 6.84 37.173.120.