Stalwart Centerpoint

“a strong foundation you deserve”

 Stalwart Centerpoint
“a strong foundation you deserve”

Stalwart Centerpoint

The business started years ago with the known name as Bong-Bong’s Hardware. It is
known for its business strategy and completeness of hardware materials that customer of the
local area would not travel far just to purchase a high quality product.
As the previous partners dies, the partnership was dissolves. Hence, the daughters of the
partners thought of reviving the business establishing it with a new business name yet the same
business strategy to continue the legacy of their fathers.
Today, the business started its operation with great hopes to make profit yet satisfy the
customer’s trust.
Stalwart centerpoint is a merchandising business that provides customer durable
hardware materials. Stalwart Company is located at Lanao Street, Kidapawan City beside
Gaisano Mall of Kidapawan.

Business Permit # 08207112

Tax Permit #61354832

One Network Bank Account # 040130008798

It is a partnership bind by a contract that aims to contribute money, property and industry
and to divide the profit pro rata to the partner’s contribution.

Initial Capital
Palconite, Angellie Amor Mirasol, Kristelle Jean
100 000- Cash 50 000- Cash
50 000- Equipment 100 000- Delivery Equipment
150 000 150 000

Total Contribution: 150 000 each partner

Mission and Vision

Mission
With the advancement
of the society, Stalwart
Centerpoint aims to sustain
and offer high quality
hardware materials that are
Vision
To be the leading
business entity in North
Cotabato in providing
improved and high quality

Organizational Chart

E I
X
Partner 1 Partner 2 N
T (owner) (owner) T
E E
R R
N N
A A
L L
Employee Accountant
C C
O O
N N
T T
R R
O
L
Employee O
L

BUSINESS FLOW
 List of Supplier List of Clients

 Caliso Construction Firm

 Home Tiles  Baltero’s Design

 Raz Tiles
STALWART
 Renone’s Hardware  Joco’s Construction Firm
CENTERPOINT
 Yonnel Glass and
other supplies  Gindap’s Contruction
 Junjun’s Pipes
 Pauline’s Construction
and Design

Accounting Flow Chart

Acquisition of
Purchases materials intended
for selling

Accounting for
Sales revenues
associated with
sales
Delivery of
sold
Distribution merchandise
to clients

Customer Feedback
Service and returns

In terms of VIP clients, the business took part on the latest bidding alongside with the
construction agents to make sure that the supplies needed for the construction of the building will
be acquired in the business. This way, the expected sales will increase.
For the couple of months two (2) clients won the bidding and that is Errol’s Contruction
and AA’s Building.

FINANCIAL STATEMENTS

Chart of Accounts

110 Cash 350 Income Summary

120 Accounts Receivable 410 Sales
130 Notes Receivable 415 Sales Returns and Allowances
135 Allowance for Doubtful Accounts 420 Sales Discounts
140 Supplies 430 Purchases
150 Prepaid Rent 435 Purchase Returns and Allowances
160 Office Equipment 510 Salaries Expense
165 Accumulated Depreciation-Office 520 Utilities Expense
equipment
170 Delivery Equipment 530 Maintenance Expense
175 Accumulated Depreciation- 540 Rent Expense
Delivery Equipment

210 Accounts Payable

220 Notes Payable
310 Palconite, Capital
320 Mirasol, Capital
330 Palconite, Drawings
340 Mirasol,Drawings

Ledger
Cash
Date Explanation PR Debit Credit

Accounts Receivable
Date Explanation PR Debit Credit

Prepaid Rent
Date Explanation PR Debit Credit

Delivery Equipment
Date Explanation PR Debit Credit

Accounts Payable
Date Explanation PR Debit Credit
Palconite, Capital
Date Explanation PR Debit Credit

Mirasol, Capital
Date Explanation PR Debit Credit

Palconite,Withdrawals
Date Explanation PR Debit Credit

Sales
Date Explanation PR Debit Credit
Purchase
Date Explanation PR Debit Credit

Purchase Discount
Date Explanation PR Debit Credit

Salaries Expense
Date Explanation PR Debit Credit

Rent Expenses
Date Explanation PR Debit Credit
Utilities Expense
Date Explanation PR Debit Credit

Stawart Centerpoint
Statement of Comprehensive Income
As of April 30, 20XX
Net Sales P 138 500
Cost of Sales (134 000)
Gross Profit
Operating Expenses
Operating Profit
Profit

Stawart Centerpoint
Statement of Changes n Equity
As of April 30, 20XX

Stalwart, Owners’ Equity, 1/1/20XX

Palconite 150 000
Mirasol 150 000 300 000
Add: Additional Investment 0
Profit
Total
Less: Withdrawals
Palconite 8000
Mirasol 6000 14000
Stalwart, Owners’ Equity 4/31/20XX

Stawart Centerpoint
 Statement of Financial Position
As of April 30, 20XX

Assets

Cash P 66 800
Accounts Receivable 2 000
Less: Allowance for doubtful accounts 0
Prepaid Rent 10 000
Delivery Equipment 150 000
Total Assets 228 800

Liabilities and Owner’s Equity

Accounts Payable P 10 000

Palconite, Capital
Mirasol, Capital
Total Owners’ Equity