RICHARD LOUIE ANDONG AZUELA

PROFESSIONAL
CLEMENT ST., ESTANCIA ILOILO
TIN NO. 931-694-697-000

Statement of Comprehensive Income

( Amounts in Philippine Peso)

For the period covered January 1 to September 30, 2020

Note

Sales 1 ₱ 586,325.64
Cost of Sales 2 (290,087.85)
Gross Income ₱ 296,237.79
Professional Income 1 595,305.64
Total Gross Income ₱ 891,543.43
Administrative Cost 3 (399,419.55)
Selling Cost 4 (8,522.14)
Finance Cost -
Other Cost 5 (5,620.00)
Net Income before Income Taxes ₱ 477,981.74
Income Tax Expense (49,495.44)
Net Profit ₱ 428,486.30
See accompanying Notes to Financial Statements

Certified Correct:

RICHARD LOUIE ANDONG AZUELA

 RICHARD LOUIE ANDONG AZUELA
PROFESSIONAL
CLEMENT ST., ESTANCIA ILOILO
TIN NO. 931-694-697-000

Statement of Financial Position

( Amounts in Philippine Peso)
As of September 30, 2020
Note ###
ASSETS
Current Assets
Cash and Cash Equivalents ₱ 213,721.80
Accounts Receivable 195,105.74
Inventory 181,369.15
Total Current Assets ₱ 590,196.69
Non-Current Assets
Property, Plant & Equipment ( Net) 7 1,986,000.00
Total Assets ₱ 2,576,196.69

LIABILITIES AND CAPITAL

Liabilities
Current Liabilities
Income Tax Payable ₱ 49,495.44
Percentage Tax Payable 29,907.94
Accounts Payable 67,130.98
Total Current Liabilities ₱ 146,534.36
Non Current Liabilities
Total Liabilities ₱ 146,534.36

Capital
Capital Beginning ₱ 2,351,176.03
Income 428,486.30
Total ₱ 2,779,662.33
Drawings (350,000.00)
Capital Balance, 09/30 ₱ 2,429,662.33
Total Liabilities and Capital ₱ 2,576,196.69
See accompanying Notes to Financial Statements

-
Certified Correct:

RICHARD LOUIE ANDONG AZUELA

 RICHARD LOUIE ANDONG AZUELA
PROFESSIONAL
CLEMENT ST., ESTANCIA ILOILO
TIN NO. 931-694-697-000

Notes to Statement of Comprehensive Income

For the period covered January 1 to September 30, 2020

1 Sources of Income
Sales ₱ 586,325.64
Hauling 595,305.64
Total ₱ 1,181,631.28

2 Cost of Sales
Inventory, Beginning 156,145.20
Purchases ₱ 315,311.80
Total 471,457.00
Inventory, End (181,369.15)
Cost of Sales ₱ 290,087.85

3 Administrative Cost
Salaries & Wages ₱ 115,106.98
Depreciation 112,000.00
Supplies 5,814.31
Fuel and Oil 35,165.98
Repairs and Maintenance 10,631.70
Printing and Documentations 5,069.97
Electricity and Water 23,639.64
Tel and Tel 16,128.05
Transportation and Travel 21,506.63
Taxes and Licenses 54,356.29
Total ₱ 399,419.55

4 Selling Cost
Representation ₱ 8,522.14

5 Other Cost
Donation & Charitable Contribution ₱ 5,620.00

6 Taxes & Licenses

BIR Registration Fee ₱ 500.00
LTO/LTFRB 5,405.21
Percentage Tax 35,448.94
Local Taxes 13,002.14
Total ₱ 54,356.29
RICHARD LOUIE ANDONG AZUELA
PROFESSIONAL
CLEMENT ST., ESTANCIA ILOILO
TIN NO. 931-694-697-000

Note 7:
Property, Plant & Equipment & Schedule of Depreciation
As of September 30, 2020
.
Optical
Particulars House and Lot Service Car
Equipment TOTAL
Estimated Life (Years) 20 15 15

Gross Carrying Amount

Balance, January 1, 2020 850,000.00 1,200,000.00 480,000.00 2,530,000.00
Additions - - - -
Balance, September 30, 2020 850,000.00 1,200,000.00 480,000.00 2,530,000.00

Accumulated Depreciation
Balance, January 1, 2020 400,000.00 32,000.00 432,000.00
Depreciation during the Year 80,000.00 32,000.00 112,000.00
Balance, September 30, 2020 - 480,000.00 64,000.00 544,000.00

Net Carrying Amount,

850,000.00 720,000.00 416,000.00 1,986,000.00
September 30, 2020
A
 RICHARD LOUIE ANDONG AZUELA
PROFESSIONAL
CLEMENT ST., ESTANCIA ILOILO
TIN NO. 931-694-697-000

Statement of Cash Flow

( Amounts in Philippine Peso)

For the period ended September 30, 2020

Cash Flows from Operating Activities

Net Income ₱ 428,486.30
Adjustments for:
Depreciation 112,000.00
Operating Income Before Working Capital Changes 540,486.30

Changes in Operating Assets and Liabilities:

(Increase)/Decrease in Current Assets
Accounts Receivable (138,803.22)
Inventory (25,223.95)
Increase/(Decrease) in Current Liabilities
Income Tax Payable 49,495.44
Vat Payable 24,275.79
Accounts Payable 18,491.44
Net Cash Outflows from Operating Activities ₱ 468,721.80

Cash Flows from Investing Activities:

Net Cash provided by (used in) Investing Activities ₱
Cash Flows from Financing Activities:
Drawings (350,000.00)
Net Cash provided by (used in) Financing Activities ₱ (350,000.00)
Net Increase/ (Decrease) in Cash ₱ 118,721.80
Cash, Beginning 95,000.00
Cash, End of the Year ₱ 213,721.80
c