CORPORATE INFORMATION

MAGMOVE ON KANA COMPANY (the Corporation) was incorporated on March 7, 2012 and domiciled in the Ph
profit corporation. The Corporation is organized primarily to manage and to own or hold title to the common area
COMPANY Project (Condominium Project), which has been constituted pursuant to the provisions of Republic A
Act.” The Corporation’s registered office address and principal place of business is at Barangay San Antonio, Q
 2012 and domiciled in the Philippines as a nonstock, not-for-
hold title to the common areas of the MAGMOVE ON KANA
the provisions of Republic Act (RA) No. 4726, “Condominium
at Barangay San Antonio, Quezon City.
MAGMOVE ON KANA COMPANY
Trial Balance
December 31, 2019
Unadjusted Trial Balance
11011101 Petty Cash Fund-Peso
11011301 Cash in Bank Peso - BPI
11011312 Cash in Bank Peso - BDO
11301101 Trade Receivable - Current
11301110 Trade Receivable - Developer
11309101 Accrued Rec. Trade
11952101 OCA - Input VAT
11953101 OCA - Creditable Withholding Tax (CW
11956101 OCA - Prepaid Taxes & Licenses - RP
11956201 OCA - Prepaid Insurance - Non life
12602101 PPE - Furnitures & Fixtures
12602102 PPE - Office Equipment
12951099 Other Non-Current Assets
21301101 Trade A/P
21301102 Trade Payable - Advances from Memb
21301103 Trade A/P - Deposits
21301107 Trade A/P - Construction Bond
21304201 Taxes Payable - Expanded Withholdin
21304301 Taxes Payable - Output VAT
21304302 Taxes Payable - Deferred Output VAT
21307195 Accrued Payable-Others
21309100 Trade Payables - Others (AR)
21309102 Nontrade Payables - Others
21401101 Income Tax Payable
31051103 Members' Equity
31052101 YTD-Income (Loss)
42011301 Interest Inc. from Cash in Bank
49959917 Income - Assessment Dues
49959919 Discount on Assessment Dues
49959999 Other Inc.
52031101 DOE - Taxes & Licenses
52032101 DOE - Real Property Tax
52041101 DOE - Light & Power-Common
52041201 DOE - Water - Common
52041301 DOE - Aircon - Common
52041401 DOE - Security-Common
52041403 DOE - Janitorial-Common
52041501 Common Area Charges-Recovery
52041504 Water Recovery
52041505 Light and Power Recovery
52041508 Parking Recovery
52041509 Social/Dining Recovery
52041511 Supplies Recovery
52041513 Work Order Recovery
52041901 DOE - Pest Control
52041905 DOE - Genset
52041907 DOE - Garbage Collection
52041908 DOE - Garbage Fee-Recovery
52061103 DOE - Repairs & Maint. - Machinery &
52061104 DOE - Repairs & Maint. - Transportatio
52061151 DOE - Repairs & Maint. - Aircon
52061152 DOE - Repairs & Maint. - Genset
52061153 DOE - Repairs & Maint. - Electrical
52061154 DOE - Repairs & Maint. - Civil works
52061155 DOE - Maintenance- Ground
52061156 DOE - Repairs- Canal/Drainage
52061157 DOE - Repairs- Water/Sanitary
52061158 DOE-Maintenance- Utility
52071101 DOE - Professional Fees
52081101 DOE - Transportation & Travel
52091101 DOE - Representation
52101101 DOE - Insurance - COMAR/CGL/FG/E
52111101 DOE - Supplies
52551499 DOE - Service Fees - Others
52951101 DOE - Postal & Communication
52959999 DOE - Others
68011102 Provision for Income Tax
11111 Provision for Final Tax
93000000 AR Migration Account
Unadjusted Trial Balance
20,000.00
1,026,153.30
(2,357,741.34)
13,728,882.04
562,333.58
454,656.05
7,052,334.19
18,280.17
1,135,292.95
-
107,321.43
87,500.00
665,995.81
(2,165,477.85)
(373,013.06)
(125,000.00)
(209,000.00)
(68,697.09)
(6,714,459.27)
(4,604,158.74)
(2,544,389.36)
(2,602,073.44)
(81,182.32)
74,330.23
(4,886,351.16)
995,612.14
(6,971.56)
(28,472,305.22)
43,417.10
(963,501.71)
559,302.10
4,540,121.80
4,032,574.63
1,272,332.34
-
8,287,815.98
2,942,955.29
(5,468.75)
(1,004,694.14)
(509,456.46)
(1,438,386.72)
(278,392.91)
(4,763.39)
(6,085.97)
265,890.32
43,508.93
291,044.61
(892.86)
2,774,170.49
-
5,511.12
93,307.12
65,257.80
661,393.72
828.40
191,964.29
185,269.75
1,829,523.85
184,500.00
13,770.50
33,101.96
792,776.51
135,901.87
3,803,424.67
53,588.77
365,375.36
-
-
25,142.15
(0.00)
MAGMOVE ON KANA COMPANY
List of CAJEs
December 31, 2019

Number Account Number

31051103
21307195

31051103
11953101
21401101

31051103
21307195

21307195
31051103

11011301
21301101

31051103
12951099
31051103

31051103
12602901
12602902

49959999
49959917
31051103
52041508

11011312
12951099

11301101
93000000

21304301
11952101

21304301
11952101

21301102
21309100
11301101

21301102
11301101

11301101
21301102

21301101
11011312

12951099
11011312

11301101
49959919

11011312
11301101

52959999
52061104
11309101
52959999
52081101
11309101

52101101
21307195

21309102
21304301

21307195
21304201

52902101
12602901
12602902

11011312
21301101

21301101
21301101
21307195

11111
42011301

21304302
21304301

21304301
11952101

11301101
11011301

11301101
11011301
 11301101
11011312
11011301

11301101
11011312

11301101
11011312

11301101
21301102
 19,214,211.39 19,214,211.39

Account Description Debit Credit

Members' Equity 30,000.00

Accrued Pay-Others 30,000.00
To accrue for retainers fee Oct - Dec 2016

Members' Equity 89,309.19

OCA - Creditable Withholding Tax (CWT) 14,979.19
Income tax payable 74,330.00

Members' Equity 125,692.70

Accrued Payable-Others 125,692.70
To increase accruals for repairs and maintenance - machinery & equipment

Accrued Payable-Others 1,085,935.03

Members' Equity 1,085,935.03
To reverse accruals made in the prior years.

CIB-Peso-BPI 45,887.73
Trade A/P 45,887.73
To correct Cash adjustment made under PAJE 1 (2016) to correct Bank Account

Members' Equity 87,117.00

Other Non-current Assets 86,360.12
Members' Equity 756.88
Application of Deposit and Interest income (period July 12 to Aug 11, 2016 Account Number 175691987-2

Members' Equity 37,468.25

AD - Furniture and Fixture 10,732.14
AD - Office Equipment 26,736.11
To record depreciation of PPE

Other Inc. 459.28

Income - Assessment Dues 3,857.52
Members' Equity 10,415.28
Parking Recovery 14,732.08

Cash in Bank Peso - BDO 206,861.67

Other Non-Current Assets 206,861.67
To revert additional Unreleased check to Cash

Trade Receivable - Current 25,142.15

AR Migration Account 25,142.15
To correct erroneous entry to AR Migration Account (CAJE #3 2016)

Taxes Payable - Output VAT 2,044,219.22

OCA - Input VAT 2,044,219.22

Taxes Payable - Output VAT 2,499,582.00

OCA - Input VAT 2,499,582.00
CAJE #7 2016

Trade Payables - Advances from Members 301,205.39

Trade Payables - Others (AR) 271,814.67
Trade Receivable - Current 573,020.06
To reverse 2015 PAJE for negative balances in accounts receivable (PAJE #4 2016)

Trade Payables - Advances from Members 71,807.67

Trade Receivable - Current 71,807.67
To reverse 2014 PAJE for negative balances in accounts receivable (PAJE #4 2016)

Trade Receivable - Current 477,374.89

Trade Payables - Advances from Members 477,374.89
To reclass 2016 negative balances to advances from members (PAJE #5 2016)

Trade A/P 2,119,977.85

CIB-Peso-BDO 2,119,977.85
To recognize actual payment of unreleased checks in 2016

Other Non-Current Assets 206,861.67

Cash in Bank Peso - BDO 206,861.67
To revert additional Unreleased check to Cash

Trade Receivable - Current 470.16

Discount on Assessment Dues 470.16

Cash in Bank Peso - BDO 10,779.90

Trade Receivable - Current 10,779.90

DOE - Others 109,845.75

DOE - Repairs-Tranpo 130.00
Accrued Rec. Trade 109,975.75
DOE - Others 58,267.50
DOE - Transportation 1,418.00
Accrued Rec. Trade 59,685.50

DOE-Ins.-COMAR/CGL/F 188,043.53
Accrued Pay-Others 188,043.53

NT Payables-Othrs 81,182.32
Taxes Pay-Output VAT 81,182.32
To revert Output VAT Payable erroneously posted to Makati West

Accrued Pay-Others 17,919.64

Taxes Pay - EWT 17,919.64
To record EWT payable for accruals in 2016

DOE-Depn-Furn&Fixt 49,999.11
FF&E-AD-F&F 21,464.29
FF&E-AD-Ofc Eqpt 28,534.82
To record depreciation of PPE

CIB-Peso-BDO 5,633,710.94
Trade A/P 5,633,710.94
To revert unreleased checks from 2017 to Cash

Trade A/P: Innove Communications Inc. (5100000288) 1,295.00

Trade A/P: Multi-Line Building Systems In (5100002208) 33,000.00
Accrued Pay-Others 34,295.00
To reclass CAJE in 2015 to proper vendor account

Provision for Final Tax 1,742.89

Interest Inc. from Cash in Bank 1,742.89

Taxes Payable - Deferred Output VAT 145,197.93

Taxes Payable - Output VAT 145,197.93

Taxes Payable - Output VAT 2,397,038.30

OCA - Input VAT 2,397,038.30

Trade Receivable - Current 143,196.43

CIB-Peso-BPI 143,196.43
Net of Subsequently Recognized and Unrecognized receipts - BPI

Trade Receivable - Current 61,966.69

CIB-Peso-BPI 61,966.69
Unrecognized disbursements
Trade Receivable - Current 4,818.92
CIB-Peso-BDO 200,754.95
CIB-Peso-BPI 205,573.87
Book errors - BPI

Trade Receivable - Current 45,535.56

CIB-Peso-BDO 45,535.56
Net of Subsequently Recognized and Unrecognized receipts - BDO

Trade Receivable - Current 89,453.71

CIB-Peso-BDO 89,453.71
Book errors/Reversals - BDO

Trade Receivable Current 197,455.00

Trade Payables - Advances from Members 197,455.00
er 175691987-2
MAGMOVE ON KANA COMPANY
Working BS and PL
December 31, 2019

Per checking

Account Name

ASSETS
CURRENT ASSETS
11011101 Petty Cash Fund-Peso
11011301 Cash in Bank Peso - BPI
11011312 Cash in Bank Peso - BDO
Cash
11301101 Trade Receivable - Current
11301110 Trade Receivable - Developer
11307101 Nontrade Rec. - Current
11309101 Accrued Rec. Trade
93000000 AR Migration Account
Receivables
11952101 OCA - Input VAT
11953101 OCA - Creditable Withholding Tax (CWT)
11956101 OCA - Prepaid Taxes & Licenses - RPT
11956201 OCA - Prepaid Insurance - Non life
11956901 OCA - Prepaid Expenses - Others
Other Current Assets
Total Current Assets

NON-CURRENT ASSETS
12602102 PPE - Office Equipment
12602101 PPE - Furniture & Fixtures
12602901 AD - Furniture and Fixture
12602902 AD - Office Equipment
Property and Equipment
SGV5 Deferred Tax Asset
SGV6 Deferred Tax Asset - Valuation Allowance
12951099 Other Non-current Assets
Other Current Assets
Total Non-current Assets

TOTAL ASSETS

LIABILITIES
CURRENT LIABILITIES
21301101 Trade A/P
 21301102 Trade Payables - Advances from Members
21301103 Trade A/P - Deposits
21304201 Taxes Payable - Expanded Withholding Ta
21304301 Taxes Payable - Output VAT
21304302 Taxes Payable - Deferred Output VAT
21304303 Taxes Payable - Withholding VAT
21307195 Accrued Payable-Others
21309100 Trade Payables - Others (AR)
21309102 Nontrade Payables - Others
Accounts and Other Payables
21301107 Trade A/P - Construction Bond
Construction Bond
21401101 Income tax payable
Income Tax Payable
TOTAL LIABILITIES

EQUITY
31051103 Members' Equity
31052101 YTD-Income (Loss)
Excess of revenue over expenses
TOTAL MEMBER'S EQUITY

TOTAL LIABILITIES AND EQUITY

REVENUE
49959917 Income - Assessment Dues
49959919 Discount on Assessment Dues
Membership Dues
42011301 Interest Inc. from Cash in Bank
Interest Income
49959999 Other Inc.
52041501 Common Area Charges-Recovery
52041508 Parking Recovery
52041509 Social/Dining Recovery
52041513 Work Order Recovery
52041511 Supplies Recovery
Other Income
INCOME

52031101 DOE - Taxes & Licenses

52032101 DOE - Real Property Tax
Taxes and Licenses
52041101 DOE - Light & Power-Common
52041201 DOE - Water - Common
 52041504 Water Recovery
52041505 Light and Power Recovery
Light and water
52041401 DOE - Security-Common
Security Services
52041403 DOE - Janitorial-Common
Janitorial Services
52041901 DOE - Pest Control
Pest Control
52041907 DOE - Garbage Collection
52041908 DOE - Garbage Fee-Recovery
Garbage Fees
52041905 DOE - Genset
52041301 DOE - Aircon - Common
52061103 DOE - Repairs & Maint. - Machinery & Eq
52061104 DOE - Repairs & Maint. - Transportation
52061151 DOE - Repairs & Maint. - Aircon
52061152 DOE - Repairs & Maint. - Genset
52061153 DOE - Repairs & Maint. - Electrical
52061154 DOE - Repairs & Maint. - Civil works
52061155 DOE - Maintenance- Ground
52061156 DOE - Repairs- Canal/Drainage
52061157 DOE - Repairs- Water/Sanitary
52061158 DOE - Maintenance- Utility
Repairs and Maintenance
52902101 Depreciation Expense
Depreciation and Amortization
52071101 DOE - Professional Fees
Professional Fees
52081101 DOE - Transportation & Travel
Transportaion and Travel
52091101 DOE - Representation
Representation
52101101 DOE - Insurance - COMAR/CGL/FG/EF
Insurance
52111101 DOE - Supplies
Office Supplies
52551499 DOE - Service Fees - Others
Service Fee
52951101 DOE - Postal & Communication
Postal and Communication
SGV8 Provision for doubtful accounts
Provision for doubtful accounts
52959999 DOE - Others
Others
COST OF SERVICES

EXCESS OF INCOME OVER COST OF SERVICES

68011102 Provision for Income Tax - Current

SGV2 Provision for Income Tax - Deferred
SGV3 Provision for Final Tax
Provision for Income Tax

NET INCOME
 - - -
CAJE
Unadjusted Balance December 31, 2019 Dr. Cr.

20,000.00
1,026,153.30
(2,357,741.34)
(1,311,588.04)
13,728,882.04
562,333.58
-
454,656.05
25,142.15
14,771,013.82
7,052,334.19
18,280.17
1,135,292.95
-
-
8,205,907.31
21,665,333.09

87,500.00
107,321.43
-
-
194,821.43
-
-
665,995.81
665,995.81
860,817.24

22,526,150.33

(2,165,477.85)
 (373,013.06)
(125,000.00)
(68,697.09)
(6,714,459.27)
(4,604,158.74)
-
(2,544,389.36)
(2,602,073.44)
(81,182.32)
(19,278,451.13)
(209,000.00)
(209,000.00)
74,330.23
74,330.23
(19,413,120.90)

(4,886,351.16)
995,612.14
777,709.59
(3,113,029.43)

(22,526,150.33)

(28,472,305.22)
43,417.10
(28,428,888.12)
(6,971.56)
(6,971.56)
(963,501.71)
(5,468.75)
(1,438,386.72)
(278,392.91)
(6,085.97)
(4,763.39)
(2,696,599.45)
(31,132,459.13)

559,302.10
4,540,121.80
5,099,423.90
4,032,574.63
1,272,332.34
(1,004,694.14)
(509,456.46)
3,790,756.37
8,287,815.98
8,287,815.98
2,942,955.29
2,942,955.29
265,890.32
265,890.32
291,044.61
(892.86)
290,151.75
43,508.93
-
2,774,170.49
-
5,511.12
93,307.12
65,257.80
661,393.72
828.40
191,964.29
185,269.75
1,829,523.85
5,850,735.47
-
-
184,500.00
184,500.00
13,770.50
13,770.50
33,101.96
33,101.96
792,776.51
792,776.51
135,901.87
135,901.87
3,803,424.67
3,803,424.67
53,588.77
53,588.77
-
-
365,375.36
365,375.36
31,910,168.72

777,709.59

-
-
-
-

777,709.59
 - -

Adjusted Balance Audited Balance December 31,

December 31, 2019 2018

20,000.00 20,000
1,026,153.30 677,618
(2,357,741.34) 995,219
(1,311,588.04) 1,692,837
13,728,882.04 12,037,033
562,333.58 562,334
- 0
454,656.05 0
25,142.15 0
14,771,013.82 12,599,367
7,052,334.19 52,901
18,280.17 0
1,135,292.95 1,134,293
- 0
- 0
8,205,907.31 1,187,194
21,665,333.09 15,479,398

87,500.00 87,500
107,321.43 107,321
- -10,732
- -26,736
194,821.43 157,353
- 143,213
- -143,213
665,995.81 372,774
665,995.81 372,774
860,817.24 530,127

22,526,150.33 16,009,525

(2,165,477.85) (2,163,865.00)
 (373,013.06) -477,375
(125,000.00) -120,000
(68,697.09) -50,420
(6,714,459.27) 0
(4,604,158.74) -3,749,049
- 0
(2,544,389.36) -2,236,800
(2,602,073.44) -2,330,259
(81,182.32) 0
(19,278,451.13) -11,127,768
(209,000.00) -210,000
(209,000.00) -210,000
74,330.23 -74,330
74,330.23 -74,330
(19,413,120.90) -11,412,098

(4,886,351.16) -5,456,597
995,612.14 995,612
777,709.59 -136,442
(3,113,029.43) -4,597,427
Err:504
(22,526,150.33) -16,009,525

(28,472,305.22) (28,453,559)
43,417.10 47,213
(28,428,888.12) (28,406,346)
(6,971.56) (7,763)
(6,971.56) (7,763)
(963,501.71) (1,350,770)
(5,468.75) -
(1,438,386.72) (1,450,440)
(278,392.91) (259,464)
(6,085.97) (5,893)
(4,763.39) (14,162)
(2,696,599.45) (3,080,730)
(31,132,459.13) (31,494,839)

559,302.10 658,559
4,540,121.80 4,536,972
5,099,423.90 5,195,531
4,032,574.63 3,820,964
1,272,332.34 1,129,350
(1,004,694.14) (909,944)
(509,456.46) (433,945)
3,790,756.37 3,606,426
8,287,815.98 7,565,876
8,287,815.98 7,565,876
2,942,955.29 2,717,799
2,942,955.29 2,717,799
265,890.32 257,046
265,890.32 257,046
291,044.61 236,900
(892.86) (10,642)
290,151.75 226,258
43,508.93 -
- 3,074
2,774,170.49 2,264,113
- -
5,511.12 63,262
93,307.12 98,663
65,257.80 159,601
661,393.72 854,599
828.40 24,966
191,964.29 -
185,269.75 238,511
1,829,523.85 2,072,485
5,850,735.47 5,779,274
- 37,468
- 37,468
184,500.00 207,108
184,500.00 207,108
13,770.50 20,123
13,770.50 20,123
33,101.96 37,035
33,101.96 37,035
792,776.51 791,762
792,776.51 791,762
135,901.87 151,715
135,901.87 151,715
3,803,424.67 3,794,279
3,803,424.67 3,794,279
53,588.77 53,636
53,588.77 53,636
- -
- -
365,375.36 826,200
365,375.36 826,200
31,910,168.72 31,267,534

777,709.59 (227,305)

- 89,309
- -
- 1,553
- 90,861

777,709.59 (136,444)
MAGMOVE ON KANA COMPANY
Statement of Financial Position
As of December 31, 2017

2019
ASSETS
Current Assets
Cash (Note 4)
Receivables (Note 5)
Other current assets (Note 6)
Total Current Assets
Noncurrent Assets
Property and Equipment
Other non-current assets
Total Noncurrent Assets

LIABILITIES AND MEMBERS’ EQUITY

Current Liabilities
Accounts and other payables (Note 7)
Construction bonds (Note 9)
Income tax payable (Note 12)
Total Current Liabilities
Members’ Equity
2018
MAGMOVE ON KANA COMPANY
STATEMENTS OF COMPREHENSIVE INCOME
DECEMBER 31, 2019

Years Ended December 31

2019
REVENUE
Membership dues (Note 9)
Interest Income (Note 4)
Others

COST OF SERVICES
Security services
Repairs and maintenance
Taxes and licenses
Light and water
Service fees (Note 10)
Janitorial Services
Insurance
Others
Garbage fee
Pest control
Professional fee
Office supplies
Postal and communication
Depreciation and amortization
Representation
Transportation and travel

EXCESS (DEFICIENCY) OF REVENUE OVER COST OF

SERVICES BEFORE INCOME TAX

PROVISION FOR INCOME TAX (Note 11)

EXCESS (DEFICIENCY) OF REVENUE OVER

COST OF SERVICES (Note 2)
ears Ended December 31
2018
MAGMOVE ON KANA COMPANY
STATEMENTS OF CHANGES IN EQUITY
DECEMBER 31, 2019

Balance at beginning of year

Excess (deficiency) of revenue over cost of services (Note 2)
Balance at end of year
 Years Ended December 31
2019 2018

- -
MAGMOVE ON KANA COMPANY
STATEMENTS OF CASH FLOWS
DECEMBER 31, 2019

CASH FLOWS FROM OPERATING ACTIVITIES

Income (loss) before income tax
Adjustments for:
Provision for doubtful accounts
Depreciation and amortization
Interest income
Operating income before working capital changes
Changes in operating assets and liabilities:
Decrease (increase) in:
Short term investments
Receivables
Other current assets
Increase (decrease) in:
Accounts payable and accrued expenses
0
Net cash provided by (used for) operations
Interest received
Income tax paid
Net cash flows provided by (used in) operating activities

CASH FLOWS FROM INVESTING ACTIVITIES

Acquisitions of property and equipment
Movement in noncurrent asset

Net cash used in investing activities

NET INCREASE (DECREASE) IN CASH

CASH AT BEGINNING OF PERIOD
CASH AT END OF PERIOD
December 31, 2019