TWINNIES CORPORATION 2020 BUDGET

INCOME ACTUAL BUDGET DIFFERENCE

Operating
Income

Sales Qr 1 33, 500 35, 000 (1, 500)

Sales Qr 2 41, 800 35, 000 6, 800

Sales Qr 3 34, 200 35, 000 (800)

Sales Qr 4 42, 000 35, 000 7, 000

Other

Total Operating Income 151, 500 140, 000 11, 600

Non-operating Income
Interest Income 445 500 55
Rental Income
Gifts received
Donations
Other
Total Non-operating Income 445 500 55
TOTAL INCOME 151, 945 140, 500 11, 545
EXPENSES
Operating Expenses
Accounting and Legal 800 800 -
Advertising 950 1,100 (150)
Depreciation -
Insurance 1,300 1,300 -
Interest Expense -
Maintenance 2,400 500 1, 900
Office Supplies 470 500 (30)
Payroll Expense 20,000 20,000 -
Rent Expense 12,600 12,600 -
Salaries and wages 55,000 55,000 -
Taxes and licenses 1,225 1,000 225
Telephone 750 800 (50)
Utilities
Others
Total Operating Expenses 95, 495 93, 600 1, 845

Non-recurring Expenses
 Furniture and 200 400 (200)
Equipment
Gifts Given -
Other -
Total Non-recurring Expenses 200 400 200
TOTAL EXPENSES 95, 695 94, 000 1, 645
Net Income before 56, 250 46, 500 9, 900
Taxes
Income Tax Expense
NET INCOME 56, 250 46, 500 9, 900