Financial Statements (SERVICE)

Statement of Comprehensive Income

ABC Co.
- Other income includes: Statement of Comprehensive Income
 Interest Income For the Period Ended December 31, 20x1
 Gain on Sale of Revenues:
Equipment
Service Revenue Php xxx
 Rent Income
Other Income* 1 Php xxx
Total Revenue Php xxx
- Selling Costs refer to
COSTS RELATED TO Expenses:
SALES Distribution Costs* 2 Php xxx
- Freight out for Administrative Costs 3 xxx
MERCHANDISING
Other expenses 4 xxx
Total Expenses (Php xxx)

NET INCOME/ LOSS Php xxx

- Admin Costs refer to COSTS RELATED - Other Expenses:
TO THE OFFICE o Loss on Sale of
o Taxes and Licenses Expense Equipment
o Miscellaneous Expenses o InterestABC Co.
Expenses
Statement of Changes in Equity

For the Year Ended December 31, 20x1

Owner’s Name, Capital, January 1, 2019 Php xxx

Net Income xxx

Sub-total Php xxx

Owner’s Name, Drawing (xxx)

Owner’s Capital Php xxx

FINANCIAL STATEMENTS (MERCHANDISING)

Statement of Cash Flows

1. DIRECT METHOD
OPERATING ACTIVITIES  Affect income and expenses
Examples:
(+)
Cash receipts form INTEREST INCOME
Cash receipts from SALE OF GOODS AND SERVICES
Cash receipts from EXPENSES

(-)
Cash payment for INTEREST EXPENSE
Cash payment for PURCHASES OF INVENTORY

Investing Activities  Acquisition and disposal of PPE

(+)
Cash receipts from PPE
Ex:
(+) Proceeds from Sale of Equipment/ land/ furniture and fixture/ Automobiles

(-)
Cash payments for ACQUISITION OF PPE
PPE , furniture and fixture

Financing  IDL (Investments, Drawings, Loans)

(+)
Cash receipts on loan

(-)
Cash drawings by owner
Repayment of loans
Paid notes payable

ABC Co..
Statement of Cash Flows
For the period Ended December 31, 20x1

Cash Flow from Operating Activities