KaiVegan Restaurant

Income statement
For the month of May 31, 2021

Revenues 350,000.00
Less: Expenses
Miscellaneous expense 8,500.00
Advertising expense 14,150.00
Rent expense 20,000.00
Salaries expense 252,000.00
Utilities expense 12,000.00
SSS premium 23,965.00
Philhealth 4,450.00
PAG-IBIG contributions 1,400.00
Depreciation expense - Cash register 49.99
Depreciation expense - Water dispenser 100.00
Depreciation expense - Split type air conditioner 250.00
Depreciation expense - 2 door backbar chiller 188.89
Depreciation expense - Exhaust hood 145.83
Depreciation expense - Gas stove with oven 233.33
Depreciation expense - Rice cooker 75.00
Depreciation expense - Automated dishwasher 238.89
Depreciation expense - 2 catering freezer 155.90
Depreciation expense - Computer set 306.09
 Depreciation expense - Printer 113.33
Depreciation expense - Biometric RFID time attendance 96.67
Depreciation expense - Air conditioner 409.38
Total expenses 338,828.30 338,828.30
Net Income 11,171.70

Depreciation expense - Cash register

6,999.00
(1,000.20)
5,998.80
10.00
599.88
12.00
49.99

Depreciation expense - Water dispen

6,800.00
(800.00)
6,000.00
5.00
1,200.00
12.00
100.00

Depreciation expense - Split type airc

50,000.00
(5,000.00)
45,000.00
15.00
3,000.00
12.00
250.00

Depreciation expense - 2 door backba

37,000.00
 (3,000.00)
34,000.00
15.00
2,266.67
12.00
188.89

Depreciation expense - exhaust hood

15,000.00
(1,000.00)
14,000.00
8.00
1,750.00
12.00
145.83

Depreciation expense - Automated di

50,000.00
(7,000.00)
43,000.00
15.00
2,866.67
12.00
238.89

Depreciation expense - Rice cooker

5,000.00
(500.00)
4,500.00
5.00
900.00
12.00
75.00
iation expense - Cash register
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
iation expense - Water dispenser
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
iation expense - Split type airconditioner
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
iation expense - 2 door backbar chiller
Total cost
Depreciation expense - 2 catering freezer
25,450.00 Total cost
(3,000.00) Scrap value
22,450.00
12.00 Estimated useful life (years)
1,870.83
12.00 Estimated useful life (months)
155.90 Depreciation cost
Depreciation expense - Computer set
35,385.00 Total cost
(6,000.00) Scrap value
29,385.00
8.00 Estimated useful life (years)
3,673.13
12.00 Estimated useful life (months)
306.09 Depreciation cost
Depreciation expense - Biometric RFID time attendance
7,500.00 Total cost
(700.00) Scrap value
6,800.00
5.00 Estimated useful life (years)
1,360.00
12.00 Estimated useful life (months)
113.33 Depreciation cost
Depreciation expense - Air conditioner
34,300.00 Total cost
 Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
iation expense - exhaust hood
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
iation expense - Automated dishwasher
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
ation expense - Rice cooker
Total cost
Scrap value
Estimated useful life (years)
Estimated useful life (months)
Depreciation cost
5,000.00 Scrap value
39,300.00
8.00 Estimated useful life (years)
4,912.50
12.00 Estimated useful life (months)
409.38 Depreciation cost
Depreciation expense - Printer
6,500.00 Total cost
(700.00) Scrap value
5,800.00
5.00 Estimated useful life (years)
1,160.00
12.00 Estimated useful life (months)
96.67 Depreciation cost
Depreciation expense - Gas stove with oven
30,000.00 Total cost
(2,000.00) Scrap value
28,000.00
10.00 Estimated useful life (years)
2,800.00
12.00 Estimated useful life (months)
233.33 Depreciation cost
 KaiVegan Restaurant
Statement of Changes in Owner's Equity
For the month of May 31, 2021

Beginning capital, May 2, 2021 450,000.00 SSS contributions

Additional investment 60,000.00
Less: Drawings 20,000.00
Total 490,000.00
Add: Net income 11,171.70
Ending capital, December 31, 2021 501,171.70

Philhealth contributio

PAG-IBIG contribution
ring freezer

life (years)

life (months)

life (years)

life (months)

tric RFID time attendance

life (years)

life (months)
 life (years)

life (months)

life (years)

life (months)

ove with oven

life (years)

life (months)
SSS contributions
Employees Salary (per month)
Restaurant manager 30,000.00 8.50%
Assistant manager 25,000.00 8.50%
Head cook 25,000.00 8.50%
Assistant cook 15,000.00 8.50%
Kitchen helper 15,000.00 8.50%
Cashier 15,000.00 8.50%
Waiter 15,000.00 8.50%
Security guard 16,000.00 8.50%
Totals 156,000.00

Philhealth contributions
Employees Salary (per month)
Restaurant manager 30,000.00 * 3.50%
Assistant manager 25,000.00 * 3.50%
Head cook 25,000.00 * 3.50%
Assistant cook 15,000.00 * 3.50%
Kitchen helper 15,000.00 * 3.50%
Cashier 15,000.00 * 3.50%
Waiter 15,000.00 * 3.50%
Security guard 16,000.00 * 3.50%
Totals 156,000.00

PAG-IBIG contribution
Employees No. of person (Multiply) Necessary contribution
Restaurant manager 1 100.00
Assistant manager 1 100.00
Head cook 2 100.00
Assistant cook 2 100.00
Kitchen helper 2 100.00
Cashier 2 100.00
Waiter 2 100.00
Security guard 2 100.00
Totals 14
 Add Monthly Provident Fund
2,550.00 30.00 2,580.00 425.00
2,125.00 30.00 2,155.00 425.00
2,125.00 30.00 2,155.00 425.00
1,275.00 30.00 1,305.00 -
1,275.00 30.00 1,305.00 -
1,275.00 30.00 1,305.00 -
1,275.00 30.00 1,305.00 -
1,360.00 30.00 1,390.00 -
13,260.00 13,260.00 1,275.00

No. of person (Multiply)

1,050.00 /2 525.00 1
875.00 /2 437.50 1
875.00 /2 437.50 2
525.00 /2 262.50 2
525.00 /2 262.50 2
525.00 /2 262.50 2
525.00 /2 262.50 2
560.00 /2 280.00 2
5,460.00 2,730.00 14.00

100.00
100.00
200.00
 200.00
200.00
200.00
200.00
200.00
1,400.00
 No. of employee
3,005.00 1 3,005.00
2,580.00 1 2,580.00
2,580.00 2 5,160.00
1,305.00 2 2,610.00
1,305.00 2 2,610.00
1,305.00 2 2,610.00
1,305.00 2 2,610.00
1,390.00 2 2,780.00
14,535.00 14 23,965.00

525.00
385.00
875.00
525.00
525.00
525.00
525.00
560.00
4,445.00