Aqueduct - 2018-fs - For Discussion and Adjustent

Restituto R.
Adoremus, cpa's
AQUEDUCT DEVELOPMENT CORPORATION

STATEMENT OF FINANCIAL POSITION
'December 31
2018 2017
ASSETS
CURRENT ASSETS
Cash (Notes 4 and 11) P 2,359,106 P 2,814,698
Prepaid items (Note 5) 192,440 84,038
Total Current Assets 2,551,546 2,898,736
NON CURRENT ASSETS

Investment property (Note 7) 5,621,776 5,850,758
Property and equipment - net (Note 6) 1,156,877 362,500
Refundable deposit 15,090 15,090
Deferred income tax (Note 9) 37,180 81,286
6,830,923 6,309,634
P 9,382,469 P 9,208,370
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Customers' deposit P 7,800 P 7,800
Advances from officers (Notes 8 and 11) 824,377 616,635
Total Current Liabilities 832,177 624,435
STOCKHOLDERS' EQUITY (Note 10)

Capital stock 3,000,000 3,000,000
Additional paid in capital 5,500,000 5,500,000
Retained earnings 50,292 83,935
8,550,292 8,583,935
P 9,382,469 P 9,208,370
See accompanying Notes to Financial Statements
0 0
advances to officers
teresita agbayani 489,026
diokno pascua
fund transfer
489,026
accounts payable
miscellaneous
cash balance 12/31/2015 amount

093-3-01127603-2 13,817 13,817
7002039547 17,518 17,518
bsrb 8,472 183,363
39,808 214,698
Time Deposit 2,600,000

New Account 5,000
2014 data
cash balances
093-3-01127603-2
001-0093-0000-7002039547
bsrb
prepaid items
2307 prior
others
2307 balance
12/31/2013
additiona 2014
composition of cash
093-3-01127603-2
7002039547
01-000-0042
Adjustment
prepaid
prepaid income tax
other
beinning
2307 during 2012
less mcit
customers deposit
billion food sales corpo
mary jane bito
shekinah school
2008 data
cash
bank balance savings
current
pbcom
sual
2
Restituto R. Adoremus, cpa's

STATEMENT OF COMPREHENSIVE INCOME
Year ended December 31

2018 2017
RENTAL INCOME P 445,000 P 447,000
OPERATING EXPENSES (Note 13) 451,264 605,138
INCOME FROM OPERATION (6,264) (158,138)
OTHER INCOME (CHARGES)

Interest income 39,808 40,038
Gain on sale of investment (Note 9) - 974,000
39,808 1,014,038
INCOME BEFORE INCOME TAX 33,544 855,900
Provision for income tax (Note 9)

Current 10,063 256,770
Deferred 57,124 114,613
67,187 371,383
NET INCOME (LOSS) / TOTAL COMPREHENSIVE

INCOME (LOSS) (Note 11) (33,643) 484,517
Earnings (Loss) per share (Note 14) P (1.12) P 16.15
2017 data
normal 10,063.20 256,770.00
mcit 8,900.00 8,940.00
due 10,063.20 256,770.00
payment
3
q1
q2
q3
prior years credit 84,038.00 55,268.00
2307 5,100.00
application of MCIT/NOLCO 118,465.60 -
1606 280,440.00
202,503.60 340,808.00
still due (192,440.40) (84,038.00)
2014 data
normal
mcit
due
pyment
q1
q2
q3
2307
still due
2018 2017
Net income (loss) P (33,643) P 484,518
Number of shares 30,000 30,000
Earnings (Loss) per share P (1.12) P 16.15
3
normal
mcit
pyment
q1
q2
q3
2307
still due
prior
reconstruct prepaid
BEGINNING
ADDITIAONL 2307
APPLIED TO MCIT
3
normal
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
due
payments
q1
q2
q3
2307 2012
still due
3
normal
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
still due
payments
q1
q2
q3
2307
prior year
still due
3
mcit
basis
Net sales
Sale of investment
Income from rent
Accounts payable and accrued expenses

(Notes 8 and 14)
Cost of sales
Office supplies
depreciation
mcit
3
2307 for 2008
defective copies of boosk
net slaes of books
details of allowable representation expense
Type
Commission
Service
Sales
total representation per fs
mcit
basis
Net sales
Sale of investment
Income from rent
Cost of sales
Office supplies
depreciation
3
computatio of mcit
reveneu
cost
professional
depreciaton
mcit
3
3

STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
'Year ended December 31

2018 2017
CAPITAL STOCK (Note 10)

Paid in: P 3,000,000 P 3,000,000
ADDITIONAL PAID IN CAPITAL

Balance at beginning of year 5,500,000 5,500,000
RETAINED EARNINGS
Balance at beginning of year 83,935 (400,582)
Net income (loss) during the year (33,643) 484,517
Balance at end of year 50,292 83,935
P 8,550,292 P 8,583,935
Disclosure
2017 2017
Authorized - 30,000 shares at P100 par value

Paid in:
Balance at beginning of year 30,000 30,000
Fully paid subscription - -
Balance at end of year 30,000 30,000
Subscribed:
Balance at beginning of year - -
Fully paid subscription - -
Subscriptions during the year - -
Balance at end of year - -
Less subscription receivable:

Balance at beginning of year - -
Collections during the year - -
Subscriptuions during the year - -
Balance at end of year - -
30,000 30,000
4

STATEMENT OF CASH FLOWS

2018 2017
CASH FLOWS FROM OPERATING ACTIVITIES

Net income (loss) P (33,643) P 484,517
Adjustments for:
Depreciation (Notes 6 and 7) 258,982 258,982
Operating income before working capital changes 225,339 743,499
Decrease (increase) in:
Prepaid items (108,402) (28,770)
Deferred income tax 44,106 33,327
Increase in:
Advances from officers (Notes 8 and 11) 207,742 (473,398)
Cash generated from operations 368,785 274,658
Net cash from operating activities 368,785 274,658
CASH FLOWS FROM INVESTING ACTIVITIES

Additions to property and equipment (Notes 6 and 7) 824,377
Disposition of investment property (2,500,000)
Net cash used in investing activities 824,377 (2,500,000)
NET INCREASE (DECREASE) IN CASH AND

CASH EQUIVALENTS (455,592) 2,774,658
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 2,814,698 40,040
CASH AND CASH EQUIVALENTS AT END OF YEAR P 2,359,106 P 2,814,698
5
5
5
AQUEDUCT DEVELOPMENT CORPORATION #NAME?

'December 31 December 31 December 31

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1999
ASSETS
#NAME? #NAME? #NAME? #NAME? #NAME? 35,918.15
CURRENT ASSETS
Cash (Notes 4 and 10) 2,359,106.00 2,814,698.00 40,038.00 28,303 P 48,723.72 P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 365,359 P 134,163.56 P 897,598.34 P 69,642.07 P #NAME? P #NAME? P 118,362.36 P 70,674.92 P 616,680.08 P 134,452.59
Short-term investment
Accounts receivable (Noted 5 and 15) #NAME? - #NAME? #NAME? #NAME? #NAME? -
Inventories (Note 5) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Land and estimated improvement for sale (Note 5) #NAME? #NAME? 8,238,379
Investment in shares (Notes 5 and 12) - 740,000 #NAME? #NAME?
Prepaid items #NAME? #NAME? #NAME? 63,788 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 84,112 132,897.39 122,612.50 #NAME? #NAME? #NAME? #NAME? 192,771.30 174,912.09 159,899.63
Total Current Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? Err:522 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 263,446.22 791,592.17 294,352.22
NON CURRENT ASSETS

Land and estimated improvement for sale (Notes 1 and 2) 13,281,654.59 12,476,707.69 12,852,249.80
Investment property (Note 6) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 10,839,286 11,068,268 11,297,249 #NAME?
Available for sale investment (Note 9) #NAME? #NAME? 1,000,000
Deferred charges (Note 7) #NAME? 3,058,871
Property and equipment - net (Note 5) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 187,500 #NAME? #NAME? #NAME? #NAME? #NAME? 32,343 #NAME? #NAME? #NAME?
Refundable deposit #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Deferred income tax (Notes 8 and 10) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - 2,988 #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 4,091,213 #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P Err:522 P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 12,160,123.49 P 19,071,064.46 P 13,475,807.91
CURRENT LIABILITIES
(Notes 8 and 12) P P - P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 411,634 P 1,122,903.17 P 1,053,741.10 P 817,190.28 P #NAME? P 1,028,560.63 P 927,151.66 P 781,976.75 P 644,621.88 P 265,456.49
Income tax payable (Notes 10 and 12) - - ( 0) ( 0) #NAME? #NAME? #NAME? #NAME? 0 ( 0.00) ( 0.00) -
Customers' deposit (Note 10) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - 14,400.00 14,400.00 60,000.00
Advances from officers (Notes 7 and 10) 824,377 616,635.00 1,090,033.00 #NAME? 1,427,393.00 1,577,014 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 9,900,000 10,268,405.21 10,263,405.21 9,868,129.85 #NAME? #NAME? 9,200,000.00 9,200,000.00 9,200,000.00 10,000,000.00
Loans payable - - - - - - - - 6,850,000.00 900,000.00
Total Current Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 10,311,634 11,405,708.38 11,331,546.31 10,745,320.13 #NAME? #NAME? 10,127,151.66 9,981,976.75 16,694,621.89 11,165,456.49

Capital stock 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000.00 3,000,000### 3,000,000### ### ### ### ### ### ### ###
Additional paid in capital 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000.00 5,500,000 5,500,000### ### ### ###
Retained earnings #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?### #NAME?### ### ### ### ### ### ### ###
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 12,160,123.49 P 19,071,064.46 P 13,475,807.91
951,493
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? ( 0.00) 0.00 0.00
teresita agbayani 489,026 30,000 30,000
diokno pascua 900 900
fund transfer 412,000 #NAME?
489,026 442,900 #NAME?
accounts payable 100,000.00 100,000.00

miscellaneous 100,000.00
cash balance 12/31/2015 amount amount amount interest

093-3-01127603-2 13,817 13,817 13,879 11,762 24.94
7002039547 17,518 17,518 17,687 11,292
bsrb 8,472 183,363 8,472 5,250 80.95
39,808 214,698 40,038 28,304 106

New Account 5,000
2014 data
amount interest 2014
cash balances
093-3-01127603-2 20236.83 27.09
001-0093-0000-7002039547 12124.52
bsrb 16362.37 165.46
48723.72 192.55
prepaid items
2307 prior 61843.79
others #NAME?
#NAME?
2307 balance
12/31/2013 61843.79
additiona 2014 17400
79243.79
composition of cash
093-3-01127603-2 10,215.16 14,443.83
7002039547 13,221.86 26,091.98
01-000-0042 8,926.78 30,471.99
8,926.78 53,909.01
Adjustment #NAME?
prepaid
prepaid income tax #NAME?
other #NAME?
#NAME?
beinning #NAME?
2307 during 2012 17,400.00
less mcit (8,880.00)
#NAME?
#NAME?
#NAME?
customers deposit
billion food sales corpo 1,800.00 1,800.00 1,800.00
mary jane bito 6,000.00 6,000.00 6,000.00
shekinah school 1,100,000.00 1,100,000.00 1,100,000.00
1,107,800.00 1,107,800.00 1,107,800.00
2008 data
cash
bank balance savings 126246.15 126246.15 126246.15 126246.15 126246.15
current 13937.66 13937.66 13937.66 13937.66 13937.66
pbcom 26645.15 26645.15 26645.15 26645.15 26645.15
sual 3452.65 3452.65 3452.65 3452.65 3452.65
170281.61 170281.61 170281.61 170281.61 170281.61
2


2018 2017
2018
REVENUE
Net sales
Sale of investment
Income from rent 445,000.00 447,000.00
Total Revenue 445,000.00 447,000.00
COST AND EXPENSES

Cost of sales
Operating expenses (Note 12) #NAME? #NAME?
Total Cost and Expenses #NAME? #NAME?
INCOME FROM OPERATION #NAME? #NAME?

Interest income 39,808.00 40,038.00
Loss on impairment of inventories
Gain on sale of investment (Note 9) 974,000.00
39,808.00 1,014,038.00
INCOME BEFORE INCOME TAX #NAME? #NAME?
Provision for income tax (Notes 8 and 10)

Current #NAME? #NAME?
Deferred #NAME? #NAME?
#NAME? #NAME?
NET LOSS / TOTAL COMPREHENSIVE

INCOME (LOSS) (Note 11) #NAME? #NAME?
Earnings (Loss) per share #NAME? #NAME?
2017 data
normal #NAME? #NAME?
mcit 8,900.00 8,940.00
3
due #NAME? #NAME?
payment
q1
q2
q3
prior years credit #NAME? #NAME?
2307 5,100.00
application of MCIT/NOLCO #NAME? -
1606 280,440.00
#NAME? #NAME?
still due #NAME? #NAME?
2014 data
normal
mcit
due
pyment
q1
q2
q3
2307
still due
2018 2017
Net income (loss) P #NAME? P 484,518 P
Earnings (Loss) per share P #NAME? P 16.15 P
3
normal
mcit
pyment
q1
q2
q3
2307
still due
prior
reconstruct prepaid
BEGINNING
ADDITIAONL 2307
APPLIED TO MCIT
normal
3
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
due
payments
q1
q2
q3
2307 2012
still due
normal
3
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
still due
payments
q1
q2
q3
2307
prior year
still due
3
mcit
basis
Net sales
Sale of investment
Income from rent

(Notes 8 and 14)
Cost of sales
Office supplies
depreciation
mcit
2307 for 2008
net slaes of books
Type
Commission
3
Service
Sales
mcit
basis
Net sales
Sale of investment
Income from rent
Cost of sales
Office supplies
depreciation
computatio of mcit
reveneu
cost
professional
depreciaton
mcit
3

2016 2015 2014 2013
P P P
426,000.00 374,400.00 398,400 444,000

426,000.00 374,400.00 398,400 444,000
#NAME? #NAME? #NAME? #NAME?

28,303.65 105.89 - -
28,303.65 105.89 - -
#NAME? #NAME? #NAME? 8,880

#NAME? #NAME? P #NAME? P #NAME? P
#NAME?
#NAME? #NAME?### #NAME?### #NAME?###
8,520.00 7,488.00### 7,968.00### 8,880.00###
3
63,788.00 #NAME?
- -
-
63,788.00 #NAME?
#NAME? #NAME?
#NAME?
7,968
#NAME?
63,778.00
79,244
79,244
#NAME?
2016
-223,049
30,000
-7.43
3
#NAME? #NAME?
nil
7,968 8,880
-
-
-
17,400 17,400
(9,432) (8,520)
- #NAME?
(9,432) #NAME?
#NAME? #NAME?
17,400
(8,880)
#NAME? #NAME?
#NAME? #NAME?
3
444,000 476,885.00
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
51,078 -
44,214 -
41,602 -
-
4,350.00
4,350.00
4,350.00
4,350.00
17,400.00
#NAME?
#NAME? #NAME?
3
476,885 #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
- -
banco sual 17,400.00
- 17,400.00
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
3
#REF! #REF!
- #NAME?
476,885 #NAME?
#REF! #REF!
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
16,039 16,038.68
16,632 16,631.80
60,885 60,885.00
Amount Amount
3
476,885 #NAME?
#REF! #REF!
#REF! #NAME?
#NAME? #NAME?
totally allowable totally allowable
#REF! #REF!
- #NAME?
476,885 #NAME?
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
476,885 #NAME?
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
3
Year ended December 31 Year end

2012 2011 2010 2009 2008
P #NAME? P P P 60,885 P
#NAME?
476,885 #NAME? 446,800 #NAME? #NAME?
476,885 #NAME? 446,800 #NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME?
338 1,551 1,616

(130,394)
671,778
338 (128,843) 1,616 -
24,296 #NAME? 3,693 3,790 #NAME?

Err:509 (79,321) #NAME? (872)
24,296 #NAME? (75,628) #NAME? #NAME?
#NAME? P #NAME? P #NAME? P #NAME? P #NAME? P
#NAME?### #NAME?### #NAME?### #NAME?### #NAME?###
9,537.70### #NAME?### 8,936.00### #NAME?### #NAME?###
3
3
OTHERS
#NAME?
#NAME?
3
variant
#NAME?
scheduel of 2307
3
- -
- -
446,800.00 #NAME?
446,800.00 #NAME?
- -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
16,038.68 16,038.68 16,038.68
16,631.80 16,631.80 16,631.80
60,885.00 60,885.00 60,885.00
Amount Amount Amount Apportionement Maximum % ceiling

#NAME? -
3
446,800.00 #NAME? #NAME? #NAME? #NAME?

- - #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME?

totally allowable totally allowable totally allowable
- - 60,885.00
- - #NAME?
446,800.00 #NAME? #NAME?
- - #NAME?

446,800.00 #NAME? #NAME? #NAME?
- - #NAME? #NAME?

3

2007 2006 2005 2004
36,950 P #NAME? P #NAME? P 1,000,000
#NAME? 358,000 #NAME? 390,500

#NAME? #NAME? #NAME? 1,390,500
#NAME? #NAME? 172,858 616,000

#NAME? #NAME? - 124,558

(2,988) -
#NAME? #NAME? (2,988) 124,558
#NAME? P #NAME? P #NAME? P #NAME?
#NAME?### #NAME?###
#NAME?### 7,160.00 ### #NAME?
3
#NAME?### #NAME?### #NAME? - - -
3
taxable representation
#NAME?
3
#NAME?
#NAME?
#NAME?
3
3
- -
3
3

'Year ended December 31 Year ended December 31 Year ended December 31

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005

Paid in:
Balance at beginning of year 3,000,000 3,000,000 3,000,000 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 2,258,900 P 2,258,900
Fully paid subscription - - - - - - - 741,100 -
Balance at end of year 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 2,258,900
Subscribed:
Balance at beginning of year - - - - - - - - - - - - - -
Fully paid subscription 741,100
Subscriptions during the year 741,100 -
Balance at end of year - - - - - - - - - - - - - -
Less subscription receivable: - - - - - - - -

Collections during the year 741,100 -
Subscriptuions during the year - - - - - - 741,100 -
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 2,258,900

Balance at beginning of year 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 2,000,000 2,000,000 2,000,000 2,000,000 -
Collections during the year
Conversion of advances from stockholders (Note 11) 3,500,000 2,000,000
Balance at end of year 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 2,000,000 2,000,000 2,000,000 2,000,000
RETAINED EARNINGS
Balance at beginning of year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Derecognition of deferred income tax assets (82,756)
Impairment of inventory (18,894)
Net income (loss) during the year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Balance at end of year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME?
Disclosure
Number of Shares
2017 2017 2016 2015 2,008 2008 2008 2008 2008 2007 2006 2005

Paid in:
Balance at beginning of year 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589 22,589
Fully paid subscription - - - - - - - - - - 7,411 -
Balance at end of year 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589
Subscribed:
Balance at beginning of year - - - - - - - - - - - -
Subscriptions during the year - - - - - - - - - - 7,411 -
Balance at end of year - - - - - - - - - - - -

Collections during the year - - - - - - - - - - 7,411 -
Subscriptuions during the year - - - - - - - - - - 7,411 -
30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589
4


2018 2017

Net income (loss) #NAME? #NAME?
Adjustments for:
Depreciation (Notes 5 and 6) #NAME? #NAME?
Amortization of preoperating expenses
Amortization of intangible assets
Amortization of deferred charges
Financing charges
Foreign exchange loss
Interest income
Dividend income
Gain or loss on foreign exchange
Miscellaneous income
Loss on disposal of available for sale investment (Note 9)
Operating income before working capital changes #NAME? #NAME?
Trade (Note 5 and 15) - -
Other
Inventories (Note 5) - -
Investment in shares (Notes 5 and 12) - -
Prepaid items #NAME? #NAME?
Deferred income tax #NAME? #NAME?
Increase in:
(Notes 9 and 15) - -
Income tax (Note 11 and 15) - -
Customer's deposit (Note 12)
Net cash settlement
Net increase (decrease) in accrued employees benefit
Increase (decrease) in other non-current liabilities
Cash generated from operations #NAME? #NAME?
Financing charges paid
Gain on disposal of available for sale investment (Note 9)
Interest received
Income taxes paid (including final and withheld taxes)
Net cash from operating activities #NAME? #NAME?

Investments in available-for-sale investment (Note 9)
5
Proceeds from disposal of:

Available-for-sale instruments
Property and equipment
Derecognition of deferred income tax asset (Note 11) - -
Impairment of inventory (Note 5) - -
Deferred income tax asset (Note 10)
Dividends received
Return of various deposits
Intangible assets
Additional various deposits made
Net changes in other non-current assets
CASH FLOWS FROM FINANCING ACTIVITIES

Payments of long-term oblications
Conversion of liabilities to additional paid in capital (Note 9) -
Availments of notes payable
Payments of notes payable
Advances from related parties - -
Net cash used in financing activities - -

CASH EQUIVALENTS #NAME? #NAME?
CASH AND CASH EQUIVALENTS AT BEGINNING OF #NAME? #NAME?
CASH AND CASH EQUIVALENTS AT END OF YEAR #NAME? #NAME?
#NAME? #NAME?
5

2016 2015 2014 2013
#NAME? 258,982 258,982 258,982
- - - -
- - - -
- - - -
- - - #NAME?
- - - -
#NAME? #NAME? ( 149,621) #NAME?
5
- - - -
- - - -
- - - -
- - - -
5
2012 2011 2010 2009
#NAME? P #NAME? P #NAME? P #NAME? P
241,482 12,500 #NAME? #NAME?
- - - -
#NAME? #NAME? - #NAME?

- 740,000 ( 740,000) #NAME?

- 0 ( 0) #NAME?
- - - -
#NAME?
5
- - - 82,756
#NAME?
- - - 18,894
Err:509 Err:509 Err:509
#NAME? #NAME?
#NAME? #NAME? Err:509 101,650
3,500,000 - - -
3,500,000 - - -
5
2008 2007
#NAME? P #NAME?
#NAME? #NAME?
( 671,778) -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? -
#NAME? #NAME?
#NAME? #NAME?
671,778
#NAME? #NAME?
#NAME?
#NAME?
5
- #NAME?
2,000,000
2,000,000 -
#NAME? #NAME?
#NAME? #NAME?
#NAME? P #NAME?
#NAME? #NAME?
5
AQUEDUCT DEVELOPMENT CORPORATION #NAME?

'December 31 December 31 December 31

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1999
ASSETS 2018
#NAME? #NAME? #NAME? #NAME? #NAME? 35,918.15
CURRENT ASSETS
Cash (Notes 4 and 10) 2,359,105.00 2,814,698 40,038 28,303 P 48,723.72 P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 365,359 P 134,163.56 P 897,598.34 P 69,642.07 P #NAME? P #NAME? P 118,362.36 P 70,674.92 P 616,680.08 P 134,452.59
Short-term investment
Accounts receivable (Noted 5 and 15) #NAME? - #NAME? #NAME? #NAME? #NAME? -
Inventories (Note 5) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Land and estimated improvement for sale (Note 5) #NAME? #NAME? 8,238,379
Investment in shares (Notes 5 and 12) - 740,000 #NAME? #NAME?
Prepaid items #NAME? #NAME? #NAME? 63,788 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 84,112 132,897.39 122,612.50 #NAME? #NAME? #NAME? #NAME? 192,771.30 174,912.09 159,899.63
Total Current Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? Err:522 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 263,446.22 791,592.17 294,352.22
NON CURRENT ASSETS

Land and estimated improvement for sale (Notes 1 and 2) 13,281,654.59 12,476,707.69 12,852,249.80
Investment property (Note 6) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 10,839,286 11,068,268 11,297,249 #NAME?
Available for sale investment (Note 9) #NAME? #NAME? 1,000,000
Deferred charges (Note 7) #NAME? 3,058,871
Property and equipment - net (Note 5) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 187,500 #NAME? #NAME? #NAME? #NAME? #NAME? 32,343 #NAME? #NAME? #NAME?
Refundable deposit #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Deferred income tax (Notes 8 and 10) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - 2,988 #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 4,091,213 #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P Err:522 P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 12,160,123.49 P 19,071,064.46 P 13,475,807.91
CURRENT LIABILITIES
(Notes 8 and 12) P P - P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 411,634 P 1,122,903.17 P 1,053,741.10 P 817,190.28 P #NAME? P 1,028,560.63 P 927,151.66 P 781,976.75 P 644,621.88 P 265,456.49
Income tax payable (Notes 10 and 12) - - ( 0) ( 0) #NAME? #NAME? #NAME? #NAME? 0 ( 0.00) ( 0.00) -
Customers' deposit (Note 10) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? - 14,400.00 14,400.00 60,000.00
Advances from officers (Notes 7 and 10) 824,377 616,635 1,090,033 #NAME? 1,427,393.00 1,577,014 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 9,900,000 10,268,405.21 10,263,405.21 9,868,129.85 #NAME? #NAME? 9,200,000.00 9,200,000.00 9,200,000.00 10,000,000.00
Loans payable - - - - - - - - 6,850,000.00 900,000.00
Total Current Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? 10,311,634 11,405,708.38 11,331,546.31 10,745,320.13 #NAME? #NAME? 10,127,151.66 9,981,976.75 16,694,621.89 11,165,456.49

Capital stock 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000.00 3,000,000### 3,000,000### ### ### ### ### ### ### ###
Additional paid in capital 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000.00 5,500,000 5,500,000### ### ### ###
Retained earnings #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?### #NAME?### ### ### ### ### ### ### ###
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P 12,160,123.49 P 19,071,064.46 P 13,475,807.91
951,493
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? ( 0.00) 0.00 0.00
teresita agbayani 489,026 30,000 30,000
diokno pascua 900 900
fund transfer 412,000 #NAME?
489,026 442,900 #NAME?
accounts payable 100,000.00 100,000.00

cash balance 12/31/2015 amount amount amount interest

093-3-01127603-2 13,817 13,817 13,879 11,762 24.94
7002039547 17,518 17,518 17,687 11,292
bsrb 8,472 183,363 8,472 5,250 80.95
39,808 214,698 40,038 28,304 106

New Account 5,000
2014 data
amount interest 2014
cash balances
093-3-01127603-2 20236.83 27.09
001-0093-0000-7002039547 12124.52
bsrb 16362.37 165.46
48723.72 192.55
prepaid items
2307 prior 61843.79
others #NAME?
#NAME?
2307 balance
12/31/2013 61843.79
additiona 2014 17400
79243.79
composition of cash
093-3-01127603-2 10,215.16 14,443.83
7002039547 13,221.86 26,091.98
01-000-0042 8,926.78 30,471.99
8,926.78 53,909.01
Adjustment #NAME?
prepaid
prepaid income tax #NAME?
other #NAME?
#NAME?
beinning #NAME?
2307 during 2012 17,400.00
less mcit (8,880.00)
#NAME?
#NAME?
#NAME?
customers deposit
billion food sales corpo 1,800.00 1,800.00 1,800.00
mary jane bito 6,000.00 6,000.00 6,000.00
shekinah school 1,100,000.00 1,100,000.00 1,100,000.00
1,107,800.00 1,107,800.00 1,107,800.00
2008 data
cash
bank balance savings 126246.15 126246.15 126246.15 126246.15 126246.15
current 13937.66 13937.66 13937.66 13937.66 13937.66
pbcom 26645.15 26645.15 26645.15 26645.15 26645.15
sual 3452.65 3452.65 3452.65 3452.65 3452.65
170281.61 170281.61 170281.61 170281.61 170281.61
2


2018 2017
2018
REVENUE
Net sales
Sale of investment
Income from rent 445,000.00 447,000.00
Total Revenue 445,000.00 447,000.00
COST AND EXPENSES

Cost of sales
Operating expenses (Note 12) #NAME? #NAME?
Total Cost and Expenses #NAME? #NAME?
INCOME FROM OPERATION #NAME? #NAME?

Interest income 39,807.57 40,038.25
Loss on impairment of inventories
Gain on sale of investment (Note 9) 974,000.00
39,807.57 1,014,038.25
INCOME BEFORE INCOME TAX #NAME? #NAME?

Deferred #NAME? #NAME?
#NAME? #NAME?
NET LOSS / TOTAL COMPREHENSIVE

INCOME (LOSS) (Note 11) #NAME? #NAME?
Earnings (Loss) per share #NAME?
2017 data
normal #NAME? #NAME?
mcit 8,900.00 8,940.00
3
due #NAME? #NAME?
payment
q1
q2
q3
prior years credit #NAME? #NAME?
2307 5,100.00
application of MCIT/NOLCO -
1606 118,465.12 280,440.00
#NAME? #NAME?
still due #NAME? #NAME?
2014 data
normal
mcit
due
pyment
q1
q2
q3
2307
still due
2018 2017
Net income (loss) P #NAME? P 484,518 P
Earnings (Loss) per share P #NAME? P 16.15 P
3
normal
mcit
pyment
q1
q2
q3
2307
still due
prior
reconstruct prepaid
BEGINNING
ADDITIAONL 2307
APPLIED TO MCIT
normal
3
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
due
payments
q1
q2
q3
2307 2012
still due
normal
3
mcit
gross
deduction
salary
empl benefit
supplies
professional fee
depreciation
basis
2% mcit
still due
payments
q1
q2
q3
2307
prior year
still due
3
mcit
basis
Net sales
Sale of investment
Income from rent

(Notes 8 and 14)
Cost of sales
Office supplies
depreciation
mcit
2307 for 2008
net slaes of books
Type
Commission
3
Service
Sales
mcit
basis
Net sales
Sale of investment
Income from rent
Cost of sales
Office supplies
depreciation
computatio of mcit
reveneu
cost
professional
depreciaton
mcit
3

2016 2015 2014 2013
P P P
426,000.00 374,400.00 398,400 444,000

426,000.00 374,400.00 398,400 444,000

28,303.65 105.89 - -
28,303.65 105.89 - -
#NAME? #NAME? #NAME? 8,880

#NAME?
8,520.00 7,488.00### 7,968.00### 8,880.00###
3
63,788.00 #NAME?
- -
-
63,788.00 #NAME?
#NAME? #NAME?
#NAME?
7,968
#NAME?
63,778.00
79,244
79,244
#NAME?
2016
-223,049
30,000
-7.43
3
#NAME? #NAME?
nil
7,968 8,880
-
-
-
17,400 17,400
(9,432) (8,520)
- #NAME?
(9,432) #NAME?
#NAME? #NAME?
17,400
(8,880)
#NAME? #NAME?
#NAME? #NAME?
3
444,000 476,885.00
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
51,078 -
44,214 -
41,602 -
-
4,350.00
4,350.00
4,350.00
4,350.00
17,400.00
#NAME?
#NAME? #NAME?
3
476,885 #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
- -
- 17,400.00
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
3
#REF! #REF!
- #NAME?
476,885 #NAME?
#REF! #REF!
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
16,039 16,038.68
16,632 16,631.80
60,885 60,885.00
Amount Amount
3
476,885 #NAME?
#REF! #REF!
#REF! #NAME?
#NAME? #NAME?
totally allowable totally allowable
#REF! #REF!
- #NAME?
476,885 #NAME?
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
476,885 #NAME?
- #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
3
Year ended December 31 Year end

2012 2011 2010 2009 2008
P #NAME? P P P 60,885 P
#NAME?
476,885 #NAME? 446,800 #NAME? #NAME?
476,885 #NAME? 446,800 #NAME? #NAME?
#NAME? #NAME?
338 1,551 1,616

(130,394)
671,778
338 (128,843) 1,616 -
24,296 #NAME? 3,693 3,790 #NAME?

Err:509 (79,321) #NAME? (872)
24,296 #NAME? (75,628) #NAME? #NAME?
#NAME? P #NAME? P #NAME? P #NAME? P #NAME? P
9,537.70### #NAME?### 8,936.00### #NAME?### #NAME?###
3
3
OTHERS
#NAME?
#NAME?
3
variant
#NAME?
scheduel of 2307
3
- -
- -
446,800.00 #NAME?
446,800.00 #NAME?
- -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
16,038.68 16,038.68 16,038.68
16,631.80 16,631.80 16,631.80
60,885.00 60,885.00 60,885.00
Amount Amount Amount Apportionement Maximum % ceiling

#NAME? -
3


totally allowable totally allowable totally allowable
- - 60,885.00
- - #NAME?
446,800.00 #NAME? #NAME?
- - #NAME?

446,800.00 #NAME? #NAME? #NAME?
- - #NAME? #NAME?

3

2007 2006 2005 2004
36,950 P #NAME? P #NAME? P 1,000,000
#NAME? 358,000 #NAME? 390,500

#NAME? #NAME? #NAME? 1,390,500
#NAME? #NAME? 172,858 616,000

#NAME? #NAME? - 124,558

(2,988) -
#NAME? #NAME? (2,988) 124,558
#NAME?### #NAME?###
#NAME?### 7,160.00 ### #NAME?
3
#NAME?### #NAME?### #NAME? - - -
3
taxable representation
#NAME?
3
#NAME?
#NAME?
#NAME?
3
3
- -
3
3

'Year ended December 31 Year ended December 31 Year ended December 31

2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005

Paid in:
Balance at beginning of year 3,000,000 3,000,000 3,000,000 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 3,000,000 P 2,258,900 P 2,258,900
Fully paid subscription - - - - - - - 741,100 -
Balance at end of year 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 2,258,900
Subscribed:
Fully paid subscription 741,100
Subscriptions during the year 741,100 -
Less subscription receivable: - - - - - - - -

Collections during the year 741,100 -
Subscriptuions during the year - - - - - - 741,100 -
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 2,258,900

Balance at beginning of year 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 2,000,000 2,000,000 2,000,000 2,000,000 -
Collections during the year
Conversion of advances from stockholders (Note 11) 3,500,000 2,000,000
Balance at end of year 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 5,500,000 2,000,000 2,000,000 2,000,000 2,000,000
RETAINED EARNINGS
Balance at beginning of year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Derecognition of deferred income tax assets (82,756)
Impairment of inventory (18,894)
Net income (loss) during the year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Balance at end of year #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME?
Disclosure
Number of Shares
2017 2017 2016 2015 2,008 2008 2008 2008 2008 2007 2006 2005

Paid in:
Balance at beginning of year 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589 22,589
Balance at end of year 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589
Subscribed:
Subscriptions during the year - - - - - - - - - - 7,411 -

Collections during the year - - - - - - - - - - 7,411 -
Subscriptuions during the year - - - - - - - - - - 7,411 -
30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 30,000 22,589
4


2018 2017

Net income (loss) #NAME? #NAME?
Adjustments for:
Depreciation (Notes 5 and 6) #NAME? #NAME?
Amortization of preoperating expenses
Amortization of intangible assets
Amortization of deferred charges
Financing charges
Foreign exchange loss
Interest income
Dividend income
Gain or loss on foreign exchange
Miscellaneous income
Loss on disposal of available for sale investment (Note 9)
Operating income before working capital changes #NAME? #NAME?
Trade (Note 5 and 15) - -
Other
Inventories (Note 5) - -
Investment in shares (Notes 5 and 12) - -
Prepaid items #NAME? #NAME?
Deferred income tax #NAME? #NAME?
Increase in:
(Notes 9 and 15) - -
Income tax (Note 11 and 15) - -
Customer's deposit (Note 12)
Net cash settlement
Net increase (decrease) in accrued employees benefit
Increase (decrease) in other non-current liabilities
Cash generated from operations #NAME? #NAME?
Financing charges paid
Gain on disposal of available for sale investment (Note 9)
Interest received
Income taxes paid (including final and withheld taxes)
Net cash from operating activities #NAME? #NAME?

Investments in available-for-sale investment (Note 9)
5
Proceeds from disposal of:

Available-for-sale instruments
Property and equipment
Derecognition of deferred income tax asset (Note 11) - -
Impairment of inventory (Note 5) - -
Deferred income tax asset (Note 10)
Dividends received
Return of various deposits
Intangible assets
Additional various deposits made
Net changes in other non-current assets

Payments of long-term oblications
Conversion of liabilities to additional paid in capital (Note 9) -
Availments of notes payable
Payments of notes payable
Advances from related parties - -
Net cash used in financing activities - -

CASH EQUIVALENTS #NAME? #NAME?
CASH AND CASH EQUIVALENTS AT BEGINNING OF #NAME? #NAME?
CASH AND CASH EQUIVALENTS AT END OF YEAR #NAME? #NAME?
#NAME? #NAME?
5

2016 2015 2014 2013
#NAME? 258,982 258,982 258,982
- - - -
- - - -
- - - -
- - - #NAME?
- - - -
#NAME? #NAME? ( 149,621) #NAME?
5
- - - -
- - - -
- - - -
- - - -
5
2012 2011 2010 2009
241,482 12,500 #NAME? #NAME?
- - - -
#NAME? #NAME? - #NAME?

- 740,000 ( 740,000) #NAME?

- 0 ( 0) #NAME?
- - - -
#NAME?
5
- - - 82,756
#NAME?
- - - 18,894
Err:509 Err:509 Err:509
#NAME? #NAME?
#NAME? #NAME? Err:509 101,650
3,500,000 - - -
3,500,000 - - -
5
2008 2007
#NAME? P #NAME?
#NAME? #NAME?
( 671,778) -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? -
#NAME? #NAME?
#NAME? #NAME?
671,778
#NAME? #NAME?
#NAME?
#NAME?
5
- #NAME?
2,000,000
2,000,000 -
#NAME? #NAME?
#NAME? #NAME?
#NAME? P #NAME?
#NAME? #NAME?
5
Schedule of VAT Transactions 2018
Sales Sales Purchase Importation Purchase not
Vatable zero rated total sales Output VAT Capital Non CapitalCapital Non CapitaServices qualified f others Total purch
Jan - - -
Feb - - -
Mar 108,000.00 108,000.00 12,960.00 -
Apr - - -
May - - -
Jun 108,000.00 108,000.00 12,960.00 -
Jul - - -
Aug - - -
Sep 108,000.00 108,000.00 12,960.00 -
Oct - - -
Nov - - -
Dec 121,000.00 121,000.00 14,520.00 -
445,000.00 - 445,000.00 53,400.00 - - - - - - - -
Sales Sales Purchase Importation

Vatable zero rated total sales Output VAT Capital Non CapitalCapital Non CapitaServices Total purch
Q1 108,000.00 - 108,000.00 12,960.00 - - - - - - -

Q2 108,000.00 - 108,000.00 12,960.00 - - - - - - -
Q3 108,000.00 - 108,000.00 12,960.00 - - - - - - -
Q4 121,000.00 - 121,000.00 14,520.00 - - - - - - -
445,000.00 - 445,000.00 53,400.00 - - - - - - -

Input VAT Paid Running VAT
- 4,920.00 4,920.00
- 4,920.00 9,840.00
- 4,440.00 1,320.00
- 4,440.00 5,760.00
- 4,440.00 10,200.00
- 4,440.00 1,680.00
- 4,440.00 ( 6,840.00)
- 4,440.00 ( 2,400.00)
- 4,440.00 ( 10,920.00)
- 4,080.00 ( 6,840.00)
- 4,320.00 ( 2,520.00)
- 4,320.00 ( 12,720.00)
- 53,640.00 240.00

-
- 14,280.00 1,320.00
- 13,320.00 1,680.00
- 13,320.00 2,040.00
- 12,720.00 240.00
- 53,640.00
2018 2017
Taxes and licenses P 103,718 P 111,907
Travel and transportation 59,942 75,865
Professional fees 52,800 41,000
Salaries and wages 50,000 60,000
Dues and subscriptions 42,195 30,396
Depreciation 30,000 30,000
Light and water 25,000 25,287
Representation 24,692 23,505
Postage, telephone and telegram 10,450 15,320
Repairs and maintenance 9,014 37,314
Gas and oil 6,600 15,428
Insurance 6,184 33,253
Employees benefits 5,500 2,500
Office supplies 2,583 54,007
Bank charges - 450
Donation - 5,000
Promotion and marketing - 15,642
Miscellaneous 22,586 28,263
Total Expenses P 451,265 P 605,137
2017
ALAMINOS
OPERATING EXPENSES
Salaries and wages
Repairs and maintenance 19,037.75
Taxes and licenses 280,138.34
Professional fees
Dues and subscriptions
Insurance 5,621.26
Light and water 1,095.27
Gas and oil 750.00
Employees benefits
Real Property tax
Fund Transfer 3,013,000.00
Bank charges 650.00
Representation
Commission
Brokers' fees
Travel and transportation 2,617.46
Marketing expense 5,000.00
Depreciation
Postage, telephone and telegram
Office supplies
SSS and medicare contribution
Donation 1,000.00
Outside Services
Miscellaneous 4,018.94
Total Expenses 3,332,929.02
Advances (489,026.37)
2016
ALAMINOS
OPERATING EXPENSES
Salaries and wages
Repairs and maintenance 400.00
Professional fees
Insurance 5,621.94
Gas and oil
Employees benefits 5,000.00
Real Property tax 11,870.20
Fund Transfer 345,000.00
Bank charges 300.00
Representation
Commission
Brokers' fees
Travel and transportation
Depreciation
Postage, telephone and telegram 180.00
Office supplies
Outside Services
Miscellaneous 700.00
Total Expenses 382,220.98
Funds transfer 370,000.00
#REF!
#REF!
AFADECO
Schedule of check not yet disbursed
Check no.
12493
12494
12495
12505
12507
12513
12514
12523
12527
12532
12533
12534
12536
12541
12547
12548
12551
12552
12556
12559
12560
12561
12569
12576
12581
12585
12587
12588
12590
TOTAL
Type Amount
Commission
Service #REF!
Sales #REF!
#REF!
total representation per fs 125,500.00

2017 2016 2015 2014 2013
OPERATING EXPENSES
Salaries and wages 50,000 60,000 60,000 10,000
Repairs and maintenance 9,014.25 #NAME? 8,195 14,449.94 -
Taxes and licenses 103,718.18 #NAME? 148,169 93,215 66,602.51 20,374.00
Professional fees 52,800.00 #NAME? 48,000 41,400 44,000.00 71,646.07
Dues and subscriptions 42,194.64 #NAME? 42,195 42,195 42,194.64 78,519.68
Insurance 6,184.13 #NAME? 5,622 5,622 6,858.00 42,194.64
Light and water 25,000.00 #NAME? 25,488 27,359 28,859.03 6,540.00
Gas and oil 6,600.00 15,428 6,000 3,455 3,300.00 26,472.50
Employees benefits 5,500.00 #NAME? 5,000 11,000 18,481.00
Representation 24,691.61 23,505 22,447 - 450.00
Commission - -
Bank charges - #NAME?
Brokers' fees - -
Travel and transportation 59,942.30 75,865 54,493 11,200 3,429.00 -
Donation - 5,000
Depreciation #NAME? #NAME? #NAME? #NAME? 258,981.74 258,981.74
Promotion and marketing - 15,642
Postage, telephone and telegram 10,450.00 15,320 9,500 6,000 6,000.00 -
Office supplies 2,583.02 #NAME? 2,348 2,581 1,473.25 12,772.08
SSS and medicare contribution - -
Outside Services -
Miscellaneous 22,586.39 28,263 20,533 17,100 6,784.33 840,000.00
Total Expenses #NAME? #NAME? #NAME? #NAME? 482,932.44 1,376,431.71
#NAME?
2017
ALAMINOS QC Total Real Property Taxes
OPERATING EXPENSES BIR reg
Salaries and wages 60,000.00 60,000 wtax
Repairs and maintenance 19,037.75 37,296.15 56,334 bus. Permit
Taxes and licenses 280,138.34 38,836.37 318,975 others
Professional fees 51,000.00 51,000
Dues and subscriptions -
Insurance 5,621.26 13,810.30 19,432 Vat
Light and water 1,095.27 24,000.00 25,095
Gas and oil 750.00 8,820.00 9,570
Employees benefits 5,000.00 5,000
Real Property tax -
Fund Transfer 3,013,000.00 3,013,000
Bank charges 650.00 650
Representation -
Commission -
Brokers' fees -
Travel and transportation 2,617.46 42,000.00 44,617
Marketing expense 5,000.00 5,000
Depreciation -
Postage, telephone and telegram 12,000.00 12,000
Office supplies 5,153.25 5,153
SSS and medicare contribution - voucher payable
Donation 1,000.00 4,000.00 5,000
Outside Services - fund transfer
Miscellaneous 4,018.94 59,407.64 63,427 depreciation
Total Expenses 3,332,929.02 361,323.71 3,694,252.73 miscellaneous
Advances (489,026.37) (54,240.00)
2016
ALAMINOS QC Total real property taxes
Salaries and wages - wtax
Repairs and maintenance 400.00 489.50 890 bus. Permit
Dues and subscriptions 42,194.64 42,195
Insurance 5,621.94 5,622
Light and water 3,358.84 24,000.00 27,359
Gas and oil 3,454.93 3,455
Employees benefits 5,000.00 2,000.00 7,000
Real Property tax 11,870.20 22,893.88 34,764
Fund Transfer 345,000.00 345,000
Representation -
Commission -
Brokers' fees -
Travel and transportation 5,365.50 5,366
Depreciation -
Postage, telephone and telegram 180.00 5,500.00 5,680
Outside Services 8,500.00 8,500 fund transfer
Miscellaneous 700.00 113,566.30 114,266 depreciation
Total Expenses 382,220.98 374,177.98 756,398.96 miscellaneous
Funds transfer 370,000.00 102,000.00 472,000.00 420,000.00
Err:509 #NAME? #NAME?

AFADECO
AFADECO-ALAMINOS
Check no. Check no. Check no. Amount
12493 12493 12493 500.00 OPERATING EXPENSES
12494 12494 12494 200.00 Salaries and wages
12495 12495 12495 4,440.00 Repairs and maintenance
12505 12505 12505 200.00 Taxes and licenses
12507 12507 12507 4,440.00 Professional fees
12513 12513 12513 200.00 Dues and subscriptions
12514 12514 12514 4,440.00 Insurance
12523 12523 12523 200.00 Light and water
12527 12527 12527 4,440.00 Gas and oil
12532 12532 12532 19,000.00 Employees benefits
12533 12533 12533 200.00 Real Property tax\
12534 12534 12534 4,440.00 Fund Transfer
12536 12536 12536 2,000.00 Bank charges
12541 12541 12541 2,200.00 Representation
12547 12547 12547 1,000.00 Commission
12548 12548 12548 4,440.00 Brokers' fees
12551 12551 12551 200.00 Travel and transportation
12552 12552 12552 4,983.00 Depreciation
12556 12556 12556 4,440.00 Postage, telephone and telegram
12559 12559 12559 200.00 Office supplies
12560 12560 12560 2,220.00 SSS and medicare contribution
12561 12561 12561 4,440.00 Miscellaneous
12569 12569 12569 4,440.00 Total Expenses
12576 12576 12576 200.00
12581 12581 12581 4,440.00
12585 12585 12585 200.00
12587 12587 12587 200.00
12588 12588 12588 500.00
12590 12590 12590 4,440.00
TOTAL 83,243.00
Type Amount Amount Amount Amount Amount

Commission
Service #NAME? #NAME? #NAME? #NAME? #NAME?
Sales #NAME? #NAME? #NAME? #NAME? #NAME?
total representation per fs 125,500.00 125,500.00 125,500.00 125,500.00 125,500.00

2012 2011 2010 2009 2008 2007
24,780 157,173 53,807 124,106 7,633 29,342

119,886 59,267 58,877 74,122 49,866 68,786
36,000 35,000 42,000 41,000 24,000 44,000
42,195 47,754 64,434 64,434 64,434 57,275
6,270 6,270 6,270 6,540 6,000
26,379 46,085 27,442 12,160 16,709 12,389
15,372 5,700 4,630 5,700 1,450 3,800
6,250 1,470 108,728 4,327 5,500 500

15,000
-
9,468 11,815 3,697 2,323 4,487 4,872
241,482 241,482 257,866 276,173 248,482 13,367
19,796 19,565 12,478 3,536 4,130 3,466

5,154 5,037 4,290 4,438 4,882 10,463
43,193 179,475 55,990 127,365 26 38,512

596,223 824,823 700,509 745,954 438,139 292,771
8972240
Alaminos QC schedule of taxes and licenses

perty Taxes
15,703.84
264,434.50 38,836.37
280,138.34 38,836.37
#REF!
54,240.00
#REF!
schedule of taxes and licenses

34,764.08
1000
2200
23459.5
35834.73
97,258.31 (4,043.31)
756,398.96
345,000.00
#NAME?
#NAME?
#NAME?
#NAME?
CO-ALAMINOS QC SUMMARY OF DISBURSEMENTS alaminos qc
2013 2013 total 2014
TING EXPENSES
s and maintenance 1,250.00 16,124.00 17,374.00 60,331.49 4,118.45

5,297.50 66,348.57 71,646.07 4,056.00 66,602.51
34,519.68 44,000.00 78,519.68 44,000.00
nd subscriptions 42,194.64 42,194.64 42,194.64
6,540.00 6,540.00 6,858.00
2,472.50 24,000.00 26,472.50 3,124.89 25,734.14
2,500.00 15,981.00 18,481.00 3,300.00
3,000.00 3,000.00
8,273.60 8,273.60
420,000.00 420,000.00 370,000.00 102,000.00
450.00 450.00 150.00
865.00 865.00
-
-
and transportation 307.00 5,632.00 5,939.00 550.00 2,879.00
-
e, telephone and telegram 6,598.08 6,174.00 12,772.08 6,000.00
6,965.00 6,965.00 1,473.25
d medicare contribution -
1,400.00 127,624.00 129,024.00 11,639.08 10,939.25
492,608.36 355908.21 848,516.57 456,709.46 309,241.24
deposits withdrawal total
cash -
Amount Amount Amount Apportionement Maximum % ceiling taxable representation
#DIV/0! - #DIV/0!
#NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME? #NAME? #NAME? #DIV/0! #NAME? #DIV/0!
125,500.00 125,500.00 125,500.00

2006 2005 2004
16,000 151,250.00 157,291.05

61,738 50,066.20 48,869.25
48,141 51,206.00 25,934.67
39,000 36,000.00 36,000.00
41,388 45,556.00 46,396.25
6,270 6,150.00 3,416.25
16,705 13,474.12 12,000.00
16,800 24,175.05 8,417.35
- 2,500.00
- 59,500.00 12,000.00
-
-
7,733 5,423.00 2,621.75
10,450 10,449.96 10,449.96
4,185 1,934.58 650.08

7,632 5,230.40 753.90
1,211 6,248.40 14,313.60
85,682 22,007.32 3,640.95

362,934 488,671.03 385,255.06
total
64,449.94
70,658.51
44,000.00
42,194.64
6,858.00
28,859.03
3,300.00
-
-
472,000.00
150.00
-
-
-
3,429.00
-
6,000.00
1,473.25
-
22,578.33
765,950.70
property and equpment
2018
Transportation
Building Equipment Miscellaneous Total
Cost
At beginning of year P #NAME? #NAME? P #NAME? P #NAME?
Additions - - - 824,377
Disposal/retirement - - - -
At end of year #NAME? #NAME? #NAME? #NAME?
Accumulated Depreciation, Amortization and Impairment
Loss
At beginning of year #NAME? #NAME? #NAME? #NAME?
Depreciation and amortization #NAME? #NAME?
Disposals/retirement - - - -
Impairment Loss - - - -
Net Book Value P #NAME? #NAME? P - P #NAME?

2017
Transportation
Cost
Additions - - - -
Loss
Depreciation and amortization #NAME? - - #NAME?

2016
Transportation
Cost
Additions - -
Loss
2015
Transportation
Cost
Additions - -
Loss
Depreciation and amortization #NAME? - - #NAME? #NAME?

2014
Transportation
Cost
Additions - - - -
Loss
Net Book Value P #NAME? #NAME? P #NAME? P #NAME?
2013
Transportation
Cost
Additions 350,000 - -
Loss
2012
Transportation
Cost
Additions - -
Loss
2011
Transportation
Cost
Additions - #NAME?
Loss
2010
Transportation
Cost
Additions - - -
Loss
Depreciation and amortization #NAME? 16,384 #NAME?
2009
Transportation
Building Equipment Miscellaneous
Cost
At beginning of year P #NAME? #NAME? P #NAME?
Additions - -
Disposal/retirement - - -
At end of year #NAME? #NAME? #NAME?
Loss
At beginning of year #NAME? #NAME? #NAME?
Disposals/retirement - - -
Impairment Loss - - -
Net Book Value #NAME? #NAME? #NAME?
2008
Transportation
Building Equipment Miscellaneous
Cost
Additions - -
Loss
investment property
2018
Land Building Total
Cost
Additions - - -
Accumulated Depreciation, Amortization and Impairment Loss

At beginning of year - #NAME? #NAME?
Depreciation and amortization - #NAME? #NAME?
At end of year - #NAME? #NAME?

2017
Land Building Total
Cost
Additions - - - Entry:
Disposal/retirement (2,500,000) - (2,500,000) Cash 3,474,000
At end of year #NAME? #NAME? #NAME? Land 2,500,000
Gain or Loss 974,000
2016
Land Building Total
Cost
Additions - - -
Loss

2015
Land Building Total

Cost
Additions - - -
Loss
2014
Land Building Total

Cost
Additions - - -
Loss

2013
Land Building Total

Cost
Additions - - -
Loss
investment property
2012
Land Building Total

Cost
Additions - - -
Loss
2011
Land Building Total

Cost
Additions - - -
Disposal/retirement (656,674) - (656,674)
Loss
2010
Land Building Total

Cost
Additions - - -
Loss
2009
Land Building Total

Cost
Additions - - -
Loss
2008
Land Building Total

Cost
Additions - - -
Loss
Depreciation and amortization #NAME? #NAME? #NAME?
accounts payable and accrued expenses
2009 2009 2009 2007

Trade payables
Withholding and others P Err:509 Err:509 P #NAME? P
P Err:509 Err:509 P #NAME? P
2018 2017 2015

Carrying Value Fair Value Carrying Value Fair Value Fair Value
Financial Assets
Cash P 2,359,105 2,359,105 P 2,814,698 P 2,814,698.49 P P
Refundable deposits #NAME? #NAME? #NAME? #NAME? -
P #NAME? #NAME? P #NAME? P #NAME? - P
Financial Liabilities
Financial liabilities carried at amortized costs:
Customers' deposit P #NAME? #NAME? P #NAME? P #NAME? P P
Due to related parties 824,377 824,377 616,635 616,635 -
P #NAME? #NAME? P #NAME? P #NAME? - P
dcf = cf / (1+r1)
rate 6.51% 5.52% 5.52%
summary of investment in property
value Land Building land area

La Vista, Quezon City
TCT # N-243618 - Residential
Lot area - 2117.48 sq m
Floor area - sq. m
Current market value of lot - P13,000 / sqm. 2,005,896.85 401,179.37 1,604,717.48 2,117.48
Poblacion, Sual, Pangasinan

(co-owned with Luis E. Agbayani
54,600 sq. m - reserved for future
development - P1,274,017.50
TCT # 12697
Currnent market value - P100 / sqm 637,000.00 637,000.00 54,600.00
Poblacion, Sual Pangasinan

(coowned with Mayon Commercial & Relaty
Corporation
TCT # 13495 - P3,300,000
Lot area - 143,803 sq. m
Current marekt value - at least P100 / sqm
Reserved for future development 1,650,000.00 1,650,000.00 143,803.00
Palamis, Alaminos City, Pangasinsn

TCT # 14432 - commercial
Lot area - 221 sqm 221.00
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Current market value of lot P10,000 /sqm
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88 200,741.48
sold palamis property
subdivided into two (2) lots

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
share in improovment
0.27 0.00 0.00
2,500,000.00
summary of transaction
sales 1300000
cost 1,255,656.11
adjustment on cost (598,981.74)
656,674.37
643,325.63
2013
Construction in
Accumulat Building Progress Total
ed
Cost
Depreciati
At beginnin P #NAME? P #NAME? P #NAME?
on,
Additions 350,000 (350,000) -
Amortizati
on and
Impairmen
t Loss
At beginning of year #NAME? - #NAME?
Depreciation and amorti #NAME? - #NAME?
At end of year #NAME? #NAME?
Net Book VP #NAME? P #NAME? P #NAME?

2014 2013 2012
Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value
28,303 P 28,303 P #NAME? P 48,724 P 32,364 P 32,364 P 53,909 P

#NAME? #NAME? #NAME? 14,168 15,090 14,301 15,090
#NAME? P #NAME? P #NAME? P 62,891 P 47,454 P 46,664 P 68,999 P
#REF! #REF! #REF! 7,800 7,800 7,800 7,800

#NAME? #NAME? #REF! 1,427,393 1,577,014 1,577,014 1,176,643
#REF! P #REF! P #REF! P 1,435,193 P 1,584,814 P 1,584,814 P 1,184,443 P
2011 2010 2009 2007
Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value
53,909 P 47,717 P #REF! P #NAME? P #NAME? P #NAME? P 678,714 P

14,301 15,090 #REF! #REF! -
68,210 P 62,807 P #REF! P #NAME? P #NAME? P #NAME? P 678,714 P
7,800 7,800 #REF! #REF! #REF! #REF! 1,800

1,176,643 4,746,189 #REF! #REF! #REF! #REF! 6,146,433
1,184,443 P 4,753,989 P #REF! P #REF! P #REF! P #REF! P 6,148,233 P
Carrying Value Fair Value 5.70%
111,816 P 111,816
-
1,446,632 P 1,446,632
9,846,433 9,846,433
9,846,433 P 9,846,433
Net Sales Output VAT
Taxable Sales
Sale of services 445,000 53,400
445,000 53,400
Zero-rated sales
Exempt sales
445,000 53,400
Balance at beginning of year P P -
Current year's domestic purchases payment for

Goods for resale/manufacture or further processing -
Goods other than for resale or manufacture -
Capital goods subject to amortization -
Capital goods not subject to amortization -
Services lodged under cost of goods sold -
Services lodged under other accounts -
- -
Claims for tax credit/refund and other adjustments
Total claims at December 31
Unamortized input VAT for carryover in 2012 P - P -
Total landed cost ofi mports P

Customs duties/Tariffs
Others
Balance at December 31, 2011 P -
Included in cost of sales:

Excise taxes
Gross receipt tax
Documentary stamp taxes
Fringe benefits taxes
Real estate taxes prpaid -
License and permits fees misc 1,250
Others 59,782
Total (Carried Forward) 59,782
Included in operating expenses:

Real estate taxes P 52,074
License and permits fees 5,958
Others 500 6,458
P 58,532
6,458
Withholding taxes on compensation and benefits P 500

Expanded withholding taxes 5,100
P 5,600
2017 1601C 1601E

January 42 -
February 42 -
March 42 -
2016 licenses April 42 -
real estate May 42 1,000
from petty cash June 42 -
bus permit July 42 -
ctc August 42 -
rf September 42 1,700
business permit October 42 1,200
real estate November 42 600
real estate December 42 600
realty 2016 500 5,100
-
DETERMINE TAXABLE INCOME
Pretax financial income #NAME?
Permanent differences:
Less Non taxable revenue
Add Nondeductible expenses
Temporary differences:
Differential depreciation tax vs financial
2017
Taxable income #NAME?
COMPUTATION OF INCOME TAX PAYABLE (Current tax expense)
Taxable #NAME?
Rate 0.30
#NAME?
or
MCIT
Gross profit 447,000.00
Rate 0.02
8,940.00
Current tax expense #NAME?
COMPOUTATION OF DEFERRED INCOME TAXES
Future Years
2016 2017 2018 2019
Future taxable (deductible) amounts

Installemnt sales
MCIT - - - 8,520.00
NOLCO - #NAME? #NAME? #NAME?
Depreciation
Warranty costs
- #NAME? #NAME? #NAME?
Future
taxable
(Deductible) Tax Deferred tax
Temporary Diferrence Amounts Rate (Assets) Liablities
Installment sales
MCIT (8,520.00) 100% (8,520.00)
NOLCO #NAME? 30% #NAME?
Depreciation
Warranty costs
Totals #NAME? #NAME? -
COMPUTATION OF DEFERED TAX EXPENSE (BENEFIT)
Deferred tax asset at end of year #NAME?

Deferred tax asset at beginnning of year #NAME?
Deferred tax expense (benefit) #NAME?
Deferred tax liability at end of year

Deferred tax liabiity at beginning of year
Deferred tax expense (benefit) -
Net deferred tax expense

Net deferred tax expense #NAME?
COMPUTATIO OF TOTAL INCOME TAX EXPENSE

Deferred tax expense #NAME?
Income tax expense #NAME?
JOURNAL ENTRY
income tax expense #NAME? #NAME?
deferred tax asset #NAME?
income tax payable #NAME?
deferred tax liability -
FINANCIAL STATEMENT PRESENTAITON
Resulting
Deferred Tax Related Balance
Temporary differences (Assets) Liability Sheet Accounts
Installment sales Installment receivables
depreciation Plant assets
warranty costs Warranty Obligations
BALANCE SHEET PRESENTIATON
Current liabilities
Income tax payable
Deferred tax liability - current
Long term liabilities

Deferred tax liability non current
INCOME STATEMENT PRESENTATION
Income before income taxes

Income tax expense
Current
Deferred
Net income
recognized deferred tax assets (liabilities)
2018 2017
Deferred tax assets on
MCIT P 8,520 P 16,008
NOLCO #NAME? 65,278
#NAME? 81,286
Net deferred tax assets (liabilities) P #NAME? P 81,286
reconciliation
2010 2010
Provision (benefit from) for income tax at statutory tax rates P P (75,628)
Adjustments resulting from:
Provision for deferred income tax liability on income on investment in associates
Minimum corporate income tax 24,336 3,693
Movements in temporary differences 79,321 (3,693)
Provision for income tax P 103,657 P (75,628)
#NAME? (75,627.84)
#NAME? 0.00
template for reconciliation
base rate
Income from operation (13,770) #NAME? 0.30
other income charges
interest income - 0.20
bank charges - 0.30
IBIT (13,770) #NAME? 0.30
reverse reconcilitin items

nolco - #NAME? 0.30
intrest income - - 0.20
rate differential - - 0.10
mcit 1.00
changes in temporary
expired nolco movement
expired mcit movement
presentation
2018 2017
Provision (benefit from) for income tax at statutory tax rates P #NAME? P (47,441)
Net operating loss carry over (NOLCO) #NAME? 47,441
Movements in temporary differences #NAME? 371,384
Provision for income tax P #NAME? P 371,384
#NAME?
2020 2021 Total
-
- 8,520.00
- - #NAME?
-
-
- - #NAME?
#NAME?
#NAME?
Classification
Current
Non current
Current
2015 2014 2,009.00
P 24,336 41,144 -
271,122 P #NAME? -
295,458 #NAME? -
P 295,458 #NAME? -
2,009.00
P (82,756.24)
3,789.79
-
P (78,966.45)
#NAME?
-
-
-
-
#NAME?
-
-
#NAME?
-
-
-
#NAME?
#NAME? FROM total income tax expesne
#NAME?
2015 2014
P #NAME? P #NAME?
#NAME? #NAME?
#NAME? #NAME?
P #NAME? P #NAME?
MCIT
Inception Year Amount Expired Balance Expiry Year

2013 8,880 8,880 - 2016
2014 7,968 7,968 - 2017
2015 7,488 7,488 - 2018
2016 8,520 8,520 2019
2017 - - 2020
2018 - 2021
P 32,856 P 24,336 P 8,520
deferred tax for

NOLCO
Inception Year Amount Applied Balance Expiry Year
2013 #NAME? #NAME? #NAME? 2016
2014 #NAME? 25,360 #NAME? 2017
2015 #NAME? 46,681 #NAME? 2018
2016 #NAME? #NAME? 2019
2017 2010
2018 - - 2021
P #NAME? P #NAME? P #NAME?
actual nolco
Year Applied Applied NOLCO Expiry
Incurred Amount Previous year Current year Expired Unapplied Year
2014 #NAME? 84,532 #NAME? 2017
2015 #NAME? 155,603 #NAME? 2018
2016 #NAME? #NAME? 2019
2017 - 2020
2018 - - 2021
#NAME? - - #NAME? #NAME?
deferred income tax #NAME?

#NAME?
#NAME?
Vatable zero rated total sales Output VA Capital Non CapitalCapital Non CapitaServices qualified f others Total purch
Jan 41,000.00 41,000.00 4,920.00 -

Feb 41,000.00 41,000.00 4,920.00 -
Mar 37,000.00 37,000.00 4,440.00 -
Apr 37,000.00 37,000.00 4,440.00 -
May 37,000.00 37,000.00 4,440.00 -
Jun 37,000.00 37,000.00 4,440.00 -
Jul 37,000.00 37,000.00 4,440.00 -
Aug 37,000.00 37,000.00 4,440.00 -
Sep 37,000.00 37,000.00 4,440.00 -
Oct 34,000.00 34,000.00 4,080.00 -
Nov 36,000.00 36,000.00 4,320.00 -
Dec 36,000.00 36,000.00 4,320.00 -
447,000.00 - 447,000.00 53,640.00 - - - - - - - -

Vatable zero rated total sales Output VA Capital Non CapitalCapital Non CapitaServices Total purch
Q1 119,000.00 - 119,000.00 14,280.00 - - - - - - -

Q2 111,000.00 - 111,000.00 13,320.00 - - - - - - -
Q3 111,000.00 - 111,000.00 13,320.00 - - - - - - -
Q4 106,000.00 - 106,000.00 12,720.00 - - - - - - -
447,000.00 - 447,000.00 53,640.00 - - - - - - -

- 4,920.00 -
- 4,920.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,440.00 4,920.00
- 4,080.00 4,920.00
- 4,320.00 4,920.00
- 4,320.00 4,920.00
- 53,640.00 -

-
- 14,280.00 -
- 13,320.00 -
- 13,320.00 -
- 12,720.00 -
- 53,640.00
2017
Transportation Construction in
Building Equipment Miscellaneous Progress Total
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P - P #NAME?
Additions - - - - -
Disposal/retirement - - - - -
At end of year #NAME? #NAME? #NAME? - #NAME?
Loss
At beginning of year #NAME? #NAME? #NAME? - #NAME?
Depreciation and amortization #NAME? - - - #NAME?
Disposals/retirement - - - - -
Impairment Loss - - - - -
Net Book Value P #NAME? P #NAME? P - P - P #NAME?
2016
Cost
Additions - -
Loss
Depreciation and amortization #NAME? - - - #NAME?
Disposals/retirement - - - - -
Impairment Loss - - - - -

2015
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P #NAME? P #NAME?
Additions - -
At end of year #NAME? #NAME? #NAME? #NAME? #NAME?
Loss
Net Book Value P #NAME? P #NAME? P - P #NAME? P #NAME?

2014
Cost
Additions - - - -
Loss
Net Book Value P #NAME? P #NAME? P #NAME? P #NAME? P #NAME?
2013
Cost
Additions 350,000 - (350,000) -
Loss
2012
Cost
Additions - -
Loss
2011
Cost
Additions - #NAME? #NAME?
Loss
2010
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P P #NAME?
Additions - - -
Loss
Net Book Value P #NAME? P #NAME? P #NAME? P P #NAME?
2009
Transportation
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P #NAME?
Additions - - -
Loss
Net Book Value #NAME? #NAME? #NAME? #NAME?
2008
Transportation
Cost
Additions - - -
Loss
investment property
2017
Land Building Total
Cost
At beginning of year P #NAME? P #NAME? P #NAME?
Additions - - - Entry:
Disposal/retirement (2,500,000) - (2,500,000) Cash 3,474,000
At end of year #NAME? #NAME? #NAME? Land
Gain or Lo
2016
Land Building Total
Cost
Additions - - -
Loss

2015
Land Building Total

Cost
Additions - - -
Loss
2014
Land Building Total

Cost
Additions - - -
Loss

2013
Land Building Total

Cost
Additions - - -
Loss
investment property
2012
Land Building Total

Cost
Additions - - -
Loss
2011
Land Building Total

Cost
Additions - - -
Loss
2010
Land Building Total

Cost
Additions - - -
Loss
2009
Land Building Total

Cost
Additions - - -
Loss
2008
Land Building Total

Cost
Additions - - -
Loss
2009 2009 2009 2008 2007

Trade payables
Withholding and others P Err:509 P Err:509 P #NAME? P - P
P Err:509 P Err:509 P #NAME? P - P
2017 2016 2015

Carrying Value Fair Value Carrying Value Fair Value Carrying Value
Financial Assets
Cash P 2,814,698 P 2,814,698 P 40,038 P 40,038 P 28,303 P
Refundable deposits #NAME? #NAME? #NAME? #NAME? #NAME?
P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P
Customers' deposit P #NAME? #NAME? P #NAME? #NAME? P #REF!
Due to related parties 616,635 616,635 1,090,033 1,090,033 #NAME?
P #NAME? #NAME? P #NAME? #NAME? P #REF! P
dcf = cf / (1+r1)
rate 6.51% 5.52% 5.52%

Floor area - sq. m

TCT # 12697
Currnent market value - P100 / sqm 637,000.00 637,000.00 54,600.00

Corporation
TCT # 13495 - P3,300,000

- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88 200,741.48

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
#NAME?
2013
Construction in
ed
Cost
Depreciati
on,
Additions 350,000 (350,000) -
Amortizati
on and
Impairmen
t Loss
Net Book VP #NAME? P #NAME? P #NAME?
2,500,000
974,000
2015 2014 2013 2012 2011
Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value
28,303 P #NAME? P 48,724 P 32,364 P 32,364 P 53,909 P 53,909 P

#NAME? #NAME? 14,168 15,090 14,301 15,090 14,301
#NAME? P #NAME? P 62,891 P 47,454 P 46,664 P 68,999 P 68,210 P
#REF! #REF! 7,800 7,800 7,800 7,800 7,800

#NAME? #REF! 1,427,393 1,577,014 1,577,014 1,176,643 1,176,643
#REF! P #REF! P 1,435,193 P 1,584,814 P 1,584,814 P 1,184,443 P 1,184,443 P
2010 2009 2007
Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value
47,717 P #REF! P #NAME? P #NAME? P #NAME? P 678,714 P 111,816 P

15,090 #REF! #REF! -
62,807 P #REF! P #NAME? P #NAME? P #NAME? P 678,714 P 1,446,632 P
7,800 #REF! #REF! #REF! #REF! 1,800

4,746,189 #REF! #REF! #REF! #REF! 6,146,433 9,846,433
4,753,989 P #REF! P #REF! P #REF! P #REF! P 6,148,233 P 9,846,433 P
Fair Value 5.70%
111,816
-
1,446,632
9,846,433
9,846,433
Taxable Sales
447,000 53,640
Zero-rated sales
Exempt sales
447,000 53,640

- -

Others

Excise taxes
Gross receipt tax
Others #NAME?
Total (Carried Forward) #NAME?

Real estate taxes P
License and permits fees #NAME?
Others 500 #NAME?
P #NAME?
#NAME?

P 5,600
2017 1601C 1601E

January 42 -
February 42 -
March 42 -
2016 licenses April 42 -
real estate May 42 1,000
from petty cash June 42 -
bus permit July 42 -
ctc August 42 -
rf September 42 1,700
business permit October 42 1,200
real estate November 42 600
real estate December 42 600
realty 2016 500 5,100
-
2017
Taxable #NAME?
Rate 0.30
#NAME?
or
MCIT
Rate 0.02
8,940.00
Future Years
2016 2017 2018

Installemnt sales
MCIT - - 7,488.00
NOLCO - #NAME? #NAME?
Depreciation
Warranty costs
- #NAME? #NAME?
Future
taxable
Temporary Diferrence Amounts Rate (Assets)
Installment sales
MCIT (16,008.00) 100% (16,008.00)
Depreciation
Warranty costs
Totals #NAME? #NAME?
Deferred tax asset at end of year -




JOURNAL ENTRY
income tax expense #NAME? #NAME?
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2017
MCIT P 16,008 P
NOLCO #NAME?
#NAME?
Net deferred tax assets (liabilities) P #NAME? P
reconciliation
2010
Provision (benefit from) for income tax at statutory tax rates P #NAME? P
Minimum corporate income tax 24,336
Movements in temporary differences 79,321
Provision for income tax P #NAME? P
#NAME?
#NAME?
base rate
bank charges - 0.30
IBIT (13,770) #NAME? 0.30

nolco - #NAME? 0.30
mcit 1.00
presentation
2017
Net operating loss carry over (NOLCO) #NAME?
Movements in temporary differences #NAME?
#NAME?
ure Years
2019 2020 Total
-
8,520.00 - 16,008.00
#NAME? - #NAME?
-
-
#NAME? - #NAME?
#NAME?
#NAME?
Liablities
ated Balance
Classification
allment receivables Current
Non current
ranty Obligations Current
2016 2015 2014 2,009.00
16,008 P 24,336 41,144 -

#NAME? 271,122 P #NAME? -
#NAME? 295,458 #NAME? -
#NAME? P 295,458 #NAME? -
2010 2,009.00
(75,628) P (82,756.24)
3,693 3,789.79
(3,693) -
(75,628) P (78,966.45)
(75,627.84)
0.00
#NAME?
-
-
-
-
#NAME?
-
-
#NAME?
-
-
-
#NAME?
#NAME?
2016 2015 2014

(18,597) P #NAME? P #NAME?
18,597 #NAME? #NAME?

189,364.00 #NAME? #NAME?
189,364 P #NAME? P #NAME?

MCIT

2013 8,880 8,880 - 2016
2014 7,968 7,968 - 2017
2015 7,488 7,488 2018
2016 8,520 8,520 2019
2017 - - 2020
P 32,856 P 16,848 P 16,008
deferred tax for

NOLCO
2014 #NAME? 25,360 #NAME? 2017
2015 #NAME? #NAME? 2018
2016 #NAME? #NAME? 2019
2017 - - 2020
actual nolco
2014 #NAME? 84,532 #NAME? 2017
2015 #NAME? #NAME? 2018
2016 #NAME? #NAME? 2019
2017 - -
#NAME?
#NAME?
2017 2016
Taxes and licenses 111,907 148,169
Travel and transportation 75,865 54,493
Salaries and wages 60,000 60,000
Office supplies 54,007 2,348
Professional fees 41,000 48,000
Repairs and maintenance 37,314 8,195
Insurance 33,253 5,622
Dues and subscriptions 30,396 42,195
Depreciation 30,000 30,000
Light and water 25,287 25,488
Representation 23,505 22,447
Promotion and marketing 15,642 -
Gas and oil 15,428 6,000
Postage, telephone and telegram 15,320 9,500
Donation 5,000 -
Employees benefits 2,500 5,000
Bank charges 450 -
Miscellaneous 28,263 20,533
Total Expenses 605,137 487,989
2017
ALAMINOS QC
OPERATING EXPENSES
Salaries and wages 60,000.00
Repairs and maintenance 19,037.75 37,296.15
Taxes and licenses #REF! #REF!
Professional fees 51,000.00
Insurance 5,621.26 13,810.30
Light and water 1,095.27 24,000.00
Gas and oil 750.00 8,820.00
Employees benefits 5,000.00
Real Property tax
Fund Transfer 3,013,000.00
Bank charges 650.00
Representation
Commission
Brokers' fees
Travel and transportation 2,617.46 42,000.00
Marketing expense 5,000.00
Depreciation
Postage, telephone and telegram 12,000.00
Office supplies 5,153.25
Donation 1,000.00 4,000.00
Outside Services
Miscellaneous 4,018.94 59,407.64
Total Expenses #REF! #REF!
Advances #REF! #REF!
2016
ALAMINOS QC
OPERATING EXPENSES
Salaries and wages
Repairs and maintenance 400.00 489.50
Taxes and licenses 9,790.00 97,632.23
Professional fees 46,000.00
Dues and subscriptions 42,194.64
Insurance 5,621.94
Light and water 3,358.84 24,000.00
Gas and oil 3,454.93
Employees benefits 5,000.00 2,000.00
Real Property tax 11,870.20 22,893.88
Fund Transfer 345,000.00
Bank charges 300.00
Representation
Commission
Brokers' fees
Travel and transportation 5,365.50
Depreciation
Postage, telephone and telegram 180.00 5,500.00
Office supplies 2,581.00
Outside Services 8,500.00
Miscellaneous 700.00 113,566.30
Total Expenses 382,220.98 374,177.98
Funds transfer #REF! #REF!
#REF! #REF!
#REF! #REF!
AFADECO
Check no. Check no.

12493 12493
12494 12494
12495 12495
12505 12505
12507 12507
12513 12513
12514 12514
12523 12523
12527 12527
12532 12532
12533 12533
12534 12534
12536 12536
12541 12541
12547 12547
12548 12548
12551 12551
12552 12552
12556 12556
12559 12559
12560 12560
12561 12561
12569 12569
12576 12576
12581 12581
12585 12585
12587 12587
12588 12588
12590 12590
TOTAL
Type Amount Amount

Commission
Service #REF! #REF!
Sales #REF! #REF!
#REF! #REF!
total representation per fs 125,500.00 125,500.00

2017 2016 2015 2014 2013
OPERATING EXPENSES
Salaries and wages 60,000 60,000 10,000
Repairs and maintenance #NAME? 8,195 14,449.94 -
Taxes and licenses #NAME? 148,169 93,215 66,602.51 20,374.00
Professional fees #NAME? 48,000 41,400 44,000.00 71,646.07
Dues and subscriptions #NAME? 42,195 42,195 42,194.64 78,519.68
Insurance #NAME? 5,622 5,622 6,858.00 42,194.64
Light and water #NAME? 25,488 27,359 28,859.03 6,540.00
Gas and oil 15,428 6,000 3,455 3,300.00 26,472.50
Employees benefits #NAME? 5,000 11,000 18,481.00
Representation 23,505 22,447 - 450.00
Commission -
Bank charges #NAME?
Brokers' fees -
Travel and transportation 75,865 54,493 11,200 3,429.00 -
Donation 5,000
Depreciation #NAME? #NAME? #NAME? 258,981.74 258,981.74
Promotion and marketing 15,642
Postage, telephone and telegram 15,320 9,500 6,000 6,000.00 -
Office supplies #NAME? 2,348 2,581 1,473.25 12,772.08
SSS and medicare contribution -
Outside Services
Miscellaneous 28,263 20,533 17,100 6,784.33 840,000.00
Total Expenses #NAME? #NAME? #NAME? 482,932.44 1,376,431.71
#NAME?
2017 Alaminos
ALAMINOS QC Total Real Property Taxes
OPERATING EXPENSES BIR reg 15,703.84
Salaries and wages 60,000.00 60,000 wtax
Repairs and maintenance 19,037.75 37,296.15 56,334 bus. Permit 264,434.50
Professional fees 51,000.00 51,000 280,138.34
Dues and subscriptions -
Insurance 5,621.26 13,810.30 19,432 Vat
Light and water 1,095.27 24,000.00 25,095
Gas and oil 750.00 8,820.00 9,570
Employees benefits 5,000.00 5,000
Real Property tax -
Fund Transfer 3,013,000.00 3,013,000
Representation -
Commission -
Brokers' fees -
Travel and transportation 2,617.46 42,000.00 44,617
Marketing expense 5,000.00 5,000
Depreciation -
Postage, telephone and telegram 12,000.00 12,000
Donation 1,000.00 4,000.00 5,000
Outside Services - fund transfer
Miscellaneous 4,018.94 59,407.64 63,427 depreciation
Total Expenses 3,332,929.02 361,323.71 3,694,252.73 miscellaneous
Advances (489,026.37) (54,240.00)
2016
ALAMINOS QC Total real property taxes
Repairs and maintenance 400.00 489.50 890 bus. Permit
Insurance 5,621.94 5,622
Light and water 3,358.84 24,000.00 27,359
Gas and oil 3,454.93 3,455
Employees benefits 5,000.00 2,000.00 7,000
Real Property tax 11,870.20 22,893.88 34,764
Fund Transfer 345,000.00 345,000
Representation -
Commission -
Brokers' fees -
Depreciation -
Postage, telephone and telegram 180.00 5,500.00 5,680
Miscellaneous 700.00 113,566.30 114,266 depreciation
Total Expenses 382,220.98 374,177.98 756,398.96 miscellaneous
Funds transfer 370,000.00 102,000.00 472,000.00 420,000.00

AFADECO
AFADECO-ALAMINOS
Check no. Check no. Check no. Amount
12493 12493 12493 500.00 OPERATING EXPENSES
12494 12494 12494 200.00 Salaries and wages
12495 12495 12495 4,440.00 Repairs and maintenance
12505 12505 12505 200.00 Taxes and licenses
12507 12507 12507 4,440.00 Professional fees
12513 12513 12513 200.00 Dues and subscriptions
12514 12514 12514 4,440.00 Insurance
12523 12523 12523 200.00 Light and water
12527 12527 12527 4,440.00 Gas and oil
12532 12532 12532 19,000.00 Employees benefits
12533 12533 12533 200.00 Real Property tax\
12534 12534 12534 4,440.00 Fund Transfer
12536 12536 12536 2,000.00 Bank charges
12541 12541 12541 2,200.00 Representation
12547 12547 12547 1,000.00 Commission
12548 12548 12548 4,440.00 Brokers' fees
12551 12551 12551 200.00 Travel and transportation
12552 12552 12552 4,983.00 Depreciation
12556 12556 12556 4,440.00 Postage, telephone and telegram
12559 12559 12559 200.00 Office supplies
12560 12560 12560 2,220.00 SSS and medicare contribution
12561 12561 12561 4,440.00 Miscellaneous
12569 12569 12569 4,440.00 Total Expenses
12576 12576 12576 200.00
12581 12581 12581 4,440.00
12585 12585 12585 200.00
12587 12587 12587 200.00
12588 12588 12588 500.00
12590 12590 12590 4,440.00
TOTAL 83,243.00

Commission
Sales #NAME? #NAME? #NAME? #NAME? #NAME?
total representation per fs 125,500.00 125,500.00 125,500.00 125,500.00 125,500.00

2012 2011 2010 2009 2008 2007 2006
16,000
24,780 157,173 53,807 124,106 7,633 29,342 61,738
119,886 59,267 58,877 74,122 49,866 68,786 48,141
36,000 35,000 42,000 41,000 24,000 44,000 39,000
42,195 47,754 64,434 64,434 64,434 57,275 41,388
6,270 6,270 6,270 6,540 6,000 6,270
26,379 46,085 27,442 12,160 16,709 12,389 16,705
15,372 5,700 4,630 5,700 1,450 3,800 16,800
6,250 1,470 108,728 4,327 5,500 500 -

15,000
-
9,468 11,815 3,697 2,323 4,487 4,872 7,733
241,482 241,482 257,866 276,173 248,482 13,367 10,450
19,796 19,565 12,478 3,536 4,130 3,466 4,185

5,154 5,037 4,290 4,438 4,882 10,463 7,632
1,211
43,193 179,475 55,990 127,365 26 38,512 85,682

596,223 824,823 700,509 745,954 438,139 292,771 362,934
8972240
QC schedule of taxes and licenses

38,836.37
38,836.37
#REF!
54,240.00
#REF!

34,764.08
1000
2200
23459.5
35834.73
97,258.31 (4,043.31)
756,398.96
345,000.00
#NAME?
#NAME?
#NAME?
#NAME?
QC SUMMARY OF DISBURSEMENTS alaminos qc
2013 2013 total 2014 total
1,250.00 16,124.00 17,374.00 60,331.49 4,118.45 64,449.94

5,297.50 66,348.57 71,646.07 4,056.00 66,602.51 70,658.51
34,519.68 44,000.00 78,519.68 44,000.00 44,000.00
42,194.64 42,194.64 42,194.64 42,194.64
6,540.00 6,540.00 6,858.00 6,858.00
2,472.50 24,000.00 26,472.50 3,124.89 25,734.14 28,859.03
2,500.00 15,981.00 18,481.00 3,300.00 3,300.00
3,000.00 3,000.00 -
8,273.60 8,273.60 -
420,000.00 420,000.00 370,000.00 102,000.00 472,000.00
450.00 450.00 150.00 150.00
865.00 865.00 -
- -
- -
307.00 5,632.00 5,939.00 550.00 2,879.00 3,429.00
- -
6,598.08 6,174.00 12,772.08 6,000.00 6,000.00
6,965.00 6,965.00 1,473.25 1,473.25
- -
1,400.00 127,624.00 129,024.00 11,639.08 10,939.25 22,578.33
492,608.36 355908.21 848,516.57 456,709.46 309,241.24 765,950.70
deposits withdrawal total
cash -
Amount Amount Amount Apportionement Maximum % ceiling taxable representation
#DIV/0! - #DIV/0!
#NAME? #NAME? #NAME? #DIV/0! #NAME? #DIV/0!
125,500.00 125,500.00 125,500.00

2005 2004
151,250.00 157,291.05
50,066.20 48,869.25
51,206.00 25,934.67
36,000.00 36,000.00
45,556.00 46,396.25
6,150.00 3,416.25
13,474.12 12,000.00
24,175.05 8,417.35
- 2,500.00
59,500.00 12,000.00
-
-
5,423.00 2,621.75
10,449.96 10,449.96
1,934.58 650.08
5,230.40 753.90
6,248.40 14,313.60
22,007.32 3,640.95
488,671.03 385,255.06
2016
Cost
Additions - -
Accumulated Depreciation, Amortization and
Impairment Loss
2015
Cost
Additions - -
Impairment Loss
Net Book Value P #NAME? P #NAME? P - P #NAME? P #NAME?

2014
Cost Accumulat
At beginning of year P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? ed
Cost
Additions - - Depreciati
At beginnin
Disposal/retirement - - - - on,
Additions
At end of year #NAME? #NAME? #NAME? #NAME? #NAME? Amortizati
At end of year
on and
Accumulated Depreciation, Amortization and Impairmen
Impairment Loss t Loss
At beginning of year #NAME? #NAME? #NAME? - #NAME? At beginning of year
Depreciation and amortization #NAME? #NAME? Depreciation and amorti
Disposals/retirement - - - - At end of year
At end of year #NAME? #NAME? #NAME? #NAME? Net Book V
2013
Cost
Additions 350,000 - (350,000) -
Impairment Loss
2012
Cost
Additions - -
Impairment Loss
2011
Cost
Additions - #NAME? #NAME?
Impairment Loss
2010
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P P #NAME?
Additions - - -
Impairment Loss
Net Book Value P #NAME? P #NAME? P #NAME? P P #NAME?
2009
Transportation
Cost
Additions - - -
Impairment Loss
2008
Transportation
Cost
Additions - - -
Impairment Loss
investment property
2016
Land Building Total
Cost
Additions - - -
Impairment Loss

2015
Land Building Total

Cost
Additions - - -
Impairment Loss
2014
Land Building Total

Cost
Additions - - -
Impairment Loss

2013
Land Building Total

Cost
Additions - - -
Impairment Loss
investment property
2012
Land Building Total

Cost
Additions - - -
Impairment Loss
2011
Land Building Total

Cost
Additions - - -
Impairment Loss
2010
Land Building Total
Cost
Additions - - -
Impairment Loss
2009
Land Building Total

Cost
Additions - - -
Impairment Loss

2008
Land Building Total

Cost
Additions - - -
Impairment Loss
Disposals/retirement - - - 2010
Impairment Loss - - - Fair Value
P #NAME? P
-
-
#NAME?
#NAME?
accounts payable and accrued expenses P #NAME? P
2009 2009 2009 2008 2007

Trade payables
Withholding and others P Err:509 P Err:509 P #NAME? P - P P - P
-
#REF!
P Err:509 P Err:509 P #NAME? P - P #REF!
P #REF! P
2016 2015 ### 2013

Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value
Financial Assets
Cash P 40,038 P 40,038 P 28,303 P 28,303 P #NAME? P #NAME? P
Refundable deposits #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P
Customers' deposit P #NAME? #NAME? P #REF! #REF! #REF! #REF!
Due to related parties 1,090,033 1,090,033 #NAME? #NAME? #REF! #REF!
P #NAME? #NAME? P #REF! P #REF! P #REF! P #REF! P
dcf = cf / (1+r1)
rate 6.51% 5.52% 5.52%

Floor area - sq. m

TCT # 12697
Currnent market value - P100 / sqm 637,000.00 637,000.00 54,600.00 20.07

Corporation
TCT # 13495 - P3,300,000

- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88 200,741.48

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
2013
Construction in
Building Progress Total

350,000 (350,000) -


2009 2007
Carrying Value Fair Value Carrying Value Fair Value Carrying Value Fair Value
#NAME? P #NAME? P #NAME? P 678,714 P 111,816 P 111,816
- - 234,816 234,816
- - -
#NAME? #NAME? #NAME? 1,100,000 1,100,000
#REF! - -
#NAME? P #NAME? P #NAME? P 678,714 P 1,446,632 P 1,446,632
#REF! P #REF! P #REF! P (0) P -

#REF! #REF! #REF! 0 -
#REF! #REF! #REF! 1,800
#REF! #REF! #REF! 6,146,433 9,846,433 9,846,433
#REF! P #REF! P #REF! P 6,148,233 P 9,846,433 P 9,846,433
2012 2011
Carrying Value Fair Value Carrying Value Fair Value Carrying Value 5.70%
#NAME? P #NAME? P #NAME? P #NAME? P #NAME?

#REF! #REF! #REF! #REF! #REF!

#REF! P #REF! P #REF! P #REF! P #REF!
6.65%
Jan 35,000.00 35,000.00 4,200.00 -

Feb 33,000.00 33,000.00 3,960.00 -
Mar 33,000.00 33,000.00 3,960.00 -
Apr 33,000.00 33,000.00 3,960.00 -
May 33,000.00 33,000.00 3,960.00 -
Jun 33,000.00 33,000.00 3,960.00 -
Jul 36,000.00 36,000.00 4,320.00 -
Aug 36,000.00 36,000.00 4,320.00 -
Sep 36,000.00 36,000.00 4,320.00 -
Oct 36,000.00 36,000.00 4,320.00 -
Nov 41,000.00 41,000.00 4,920.00 -
Dec 41,000.00 41,000.00 4,920.00 -
426,000.00 - 426,000.00 51,120.00 - - - - - - - -

Q1 101,000.00 - 101,000.00 12,120.00 - - - - - - -

Q2 99,000.00 - 99,000.00 11,880.00 - - - - - - -
Q3 108,000.00 - 108,000.00 12,960.00 - - - - - - -
Q4 118,000.00 - 118,000.00 14,160.00 - - - - - - -
426,000.00 - 426,000.00 51,120.00 - - - - - - -

- ( 4,200.00)
- 4,200.00 -
- 3,960.00 -
- 3,960.00 -
- 3,960.00 -
- 3,960.00 -
- 3,960.00 -
- 4,320.00 -
- 4,320.00 -
- 4,320.00 -
- 4,920.00 -
- 4,920.00 -
-
- 46,800.00 ( 4,320.00)

-
- 8,160.00 ( 3,960.00)
- 11,880.00 ( 3,960.00)
- 12,600.00 ( 4,320.00)
- 14,160.00 ( 4,320.00)
- 46,800.00
MCIT

2013 8,880 8,880 - 2016
2014 7,968 7,968 2017
2015 7,488 7,488 2018
2016 8,520 8,520 2019
P 32,856 P 8,880 P 23,976
deferred tax for

NOLCO
2014 #NAME? #NAME? 2017
2015 #NAME? #NAME? 2018
2016 #NAME? #NAME? 2019
-
actual nolco
2014 #NAME? #NAME? 2017
2015 #NAME? #NAME? 2018
2016 #NAME? #NAME? 2019
-
#NAME?
#NAME?
2015
Taxable #NAME?
Rate 0.30
#NAME?
or
MCIT
Rate 0.02
8,520.00
Future Years
2015 2016 2017

Installemnt sales
MCIT - - 7,968.00
NOLCO - #NAME? #NAME?
Depreciation
Warranty costs
- #NAME? #NAME?
Future
taxable
Installment sales
MCIT (23,976.00) 100% (23,976.00)
Depreciation
Warranty costs




JOURNAL ENTRY
income tax exp[ense #NAME? #NAME?
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2016
MCIT P 23,976 P
NOLCO #NAME?
#NAME?
reconciliation
2010
#NAME?
#NAME?
base rate
bank charges - 0.30
IBIT (13,770) #NAME? 0.30

nolco - #NAME? 0.30
mcit 1.00
presentation
2016
#NAME?
Years
2018 2019 Total
-
7,488.00 8,520.00 23,976.00
-
-
#NAME?
#NAME?
Liablities
Classification
ment receivables Current
Non current
ty Obligations Current
2015 2014 2,009.00
24,336 41,144 -
271,122 P #NAME? -
295,458 #NAME? -
295,458 #NAME? -
2010 2,009.00
(75,628) P (82,756.24)
3,693 3,789.79
(3,693) -
(75,628) P (78,966.45)
(75,627.84)
0.00
#NAME?
-
-
-
-
#NAME?
-
-
#NAME?
-
-
-
#NAME?
#NAME?
2015 2014
#NAME? P #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? P #NAME?
Taxable Sales
426,000 51,120
Zero-rated sales
Exempt sales
426,000 51,120

- -

Others

Excise taxes
Gross receipt tax
Others 149,419
Total (Carried Forward) 149,419

Real estate taxes P 42,108
Others 55,944 106,061
P 148,169 25,798
131,859

P 18,545
2016 licenses
real estate
from petty cash
bus permit
ctc
rf
business permit
real estate
real estate
realty 2016
-
2016 2015 2014 2013 2012 2011
OPERATING EXPENSES
Salaries and wages 10,000
Repairs and maintenance 14,449.94 - 24,780 157,173
Taxes and licenses 93,215 66,602.51 20,374.00 119,886 59,267
Professional fees 41,400 44,000.00 71,646.07 36,000 35,000
Dues and subscriptions 42,195 42,194.64 78,519.68 42,195 47,754
Insurance 5,622 5,622 6,858.00 42,194.64 6,270
Light and water 27,359 28,859.03 6,540.00 26,379 46,085
Gas and oil 3,455 3,300.00 26,472.50 15,372 5,700
Employees benefits 11,000 18,481.00
Representation - 450.00 6,250 1,470
Commission - 15,000
Brokers' fees -
Travel and transportation 11,200 3,429.00 - 9,468 11,815
Depreciation #NAME? 258,981.74 258,981.74 241,482 241,482
Postage, telephone and telegram 6,000 6,000.00 - 19,796 19,565
Office supplies 2,581 1,473.25 12,772.08 5,154 5,037
SSS and medicare contribution -
Outside Services
Miscellaneous 17,100 6,784.33 840,000.00 43,193 179,475
Total Expenses 5,622 #NAME? 482,932.44 1,376,431.71 596,223 824,823
#NAME?

ALAMINOS ALAMINOS QC Total real property taxes
Repairs and maintenance 400.00 400.00 489.50 890 bus. Permit
Taxes and licenses 9,790.00 9,790.00 97,632.23 #NAME? others
Insurance 5,621.94 5,621.94 5,622
Light and water 3,358.84 3,358.84 24,000.00 27,359
Gas and oil 3,454.93 3,455
Employees benefits 5,000.00 5,000.00 2,000.00 7,000
Real Property tax 11,870.20 11,870.20 22,893.88 34,764
Fund Transfer 345,000.00 345,000.00 345,000
Bank charges 300.00 300.00 300
Representation -
Commission -
Brokers' fees -
Depreciation -
Postage, telephone and telegram 180.00 180.00 5,500.00 5,680
Miscellaneous 700.00 700.00 113,566.30 114,266 depreciation
Total Expenses 382,220.98 382,220.98 374,177.98 #NAME? miscellaneous
Funds transfer ### ### 8,273.60
#NAME? #NAME?
#NAME? #NAME?
AFADECO
AFADECO-ALAMINOS
Check no. Check no. Amount
12493 12493 500.00 OPERATING EXPENSES 2013
12494 12494 200.00 Salaries and wages
12495 12495 4,440.00 Repairs and maintenance
12505 12505 200.00 Taxes and licenses 1,250.00
12507 12507 4,440.00 Professional fees 5,297.50
12513 12513 200.00 Dues and subscriptions ###
12514 12514 4,440.00 Insurance
12523 12523 200.00 Light and water 6,540.00
12527 12527 4,440.00 Gas and oil 2,472.50
12532 12532 19,000.00 Employees benefits 2,500.00
12533 12533 200.00 Real Property tax\ 3,000.00
12534 12534 4,440.00 Fund Transfer 8,273.60
12536 12536 2,000.00 Bank charges ###
12541 12541 2,200.00 Representation 450.00
12547 12547 1,000.00 Commission
12548 12548 4,440.00 Brokers' fees
12551 12551 200.00 Travel and transportation
12552 12552 4,983.00 Depreciation 307.00
12556 12556 4,440.00 Postage, telephone and telegram
12559 12559 200.00 Office supplies 6,598.08
12560 12560 2,220.00 SSS and medicare contribution
12561 12561 4,440.00 Miscellaneous
12569 12569 4,440.00 Total Expenses 1,400.00
12576 12576 200.00 ###
12581 12581 4,440.00
12585 12585 200.00
12587 12587 200.00
12588 12588 500.00 deposits
12590 12590 4,440.00 cash
TOTAL 83,243.00

Commission Amount
Sales #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
#NAME?
#NAME?
total representation per fs 125,500.00 125,500.00 125,500.00 125,500.00 ###
###
2010 2009 2008 2007 2006 2005 2004
16,000 ### ###

53,807 124,106 7,633 29,342 61,738 50,066.20 48,869.25
58,877 74,122 49,866 68,786 48,141 51,206.00 25,934.67
42,000 41,000 24,000 44,000 39,000 36,000.00 36,000.00
64,434 64,434 64,434 57,275 41,388 45,556.00 46,396.25
6,270 6,270 6,540 6,000 6,270 6,150.00 3,416.25
27,442 12,160 16,709 12,389 16,705 13,474.12 12,000.00
4,630 5,700 1,450 3,800 16,800 24,175.05 8,417.35
- 2,500.00
108,728 4,327 5,500 500 - 59,500.00 12,000.00
-
- -
3,697 2,323 4,487 4,872 7,733 5,423.00 2,621.75
257,866 276,173 248,482 13,367 10,450 10,449.96 10,449.96
12,478 3,536 4,130 3,466 4,185 1,934.58 650.08
4,290 4,438 4,882 10,463 7,632 5,230.40 753.90
1,211 6,248.40 14,313.60
55,990 127,365 26 38,512 85,682 22,007.32 3,640.95

700,509 745,954 438,139 292,771 362,934 ### ###

al property taxes 34,764.08
1000
2200
23459.5
35834.73
97,258.31 (4,043.31)
voucher payable #NAME?

fund transfer ###
depreciation #NAME?
miscellaneous #NAME?
#NAME?
#NAME?
alaminos qc
QC SUMMARY OF D total 2014 total
2013
- ### 4,118.45 ###

### ### 4,056.00 ### ###
### ### ### ###
### ### ### ###
### ### 6,858.00 6,858.00
6,540.00 3,124.89 ### ###
### ### 3,300.00 3,300.00
### ### -
3,000.00 -
8,273.60 ### ### ###
### 150.00 150.00
450.00 -
865.00 865.00 -
- -
- 550.00 2,879.00 3,429.00
5,632.00 5,939.00 -
- 6,000.00 6,000.00
6,174.00 ### 1,473.25 1,473.25
6,965.00 6,965.00 -
- ### ### ###
### ### ### ### ###
355908.2
total
withdrawal
-
Apportionement Maximum % ceiling taxable representation
Amount #DIV/0! - #DIV/0!
#NAME?
#DIV/0! #NAME? #DIV/0!
#NAME?
###
2015
Building Equipment Miscellaneous Progress
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P #NAME? P
Additions -
Impairment Loss
At beginning of year #NAME? #NAME? #NAME? -
Depreciation and amortization #NAME?
Net Book Value P #NAME? P #NAME? P #NAME? P #NAME? P

2014
Cost
Additions -
Impairment Loss
2013
Cost
Additions 350,000 - (350,000)
Impairment Loss
2012
Cost
Additions -
Impairment Loss
2011
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P - P
Additions - #NAME?
Impairment Loss
2010
Cost
At beginning of year P #NAME? P #NAME? P #NAME? P P
Additions - -
Impairment Loss
Depreciation and amortization #NAME? 16,384
Net Book Value P #NAME? P #NAME? P #NAME? P P
2009
Transportation
Cost
Additions - - -
Impairment Loss
2008
Transportation
Cost
Additions - - -
Impairment Loss
investment property
2015
Land Building Total

Cost
Additions - - -
Impairment Loss
2014
Land Building Total

Cost
Additions - - -
Impairment Loss

2013
Land Building Total

Cost
Additions - - -
Impairment Loss
investment property
2012
Land Building Total

Cost
Additions - - -
Impairment Loss
2011
Land Building Total

Cost
Additions - - -
Impairment Loss
2010
Land Building Total
Cost
Additions - - -
Impairment Loss
2009
Land Building Total

Cost
Additions - - -
Impairment Loss

2008
Land Building Total

Cost
Additions - - -
Impairment Loss
2009 2009 2009 2008

Trade payables
Withholding and others P Err:509 P Err:509 P #NAME? P - P
P Err:509 P Err:509 P #NAME? P - P
2015 2014 2013

Carrying Value Fair Value Carrying Value Fair Value
Financial Assets
Cash P #NAME? P #NAME? P #NAME? P #NAME? P
Receivables
Trade - -
Others - -
Investment in shares - - - -
Refundable deposits #NAME? #NAME? #NAME? #NAME?
P #NAME? P #NAME? P #NAME? P #NAME? P
Accounts payable P #REF! P #REF! P #REF! P #REF! P
Income tax #REF! #REF! #REF! #REF!
Customers' deposit #REF! #REF! #REF! #REF!
Due to related parties #REF! #REF! #REF! #REF!
P #REF! P #REF! P #REF! P #REF! P
dcf = cf / (1+r1)
rate 6.51% 5.52%
value Land Building

Floor area - sq. m
Current market value of lot - P13,000 / sqm. 2,005,896.85 401,179.37 1,604,717.48

TCT # 12697
Currnent market value - P100 / sqm 637,000.00 637,000.00

Corporation
TCT # 13495 - P3,300,000
Reserved for future development 1,650,000.00 1,650,000.00

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
Total
#NAME?
-
-
#NAME?
#NAME?
#NAME? #NAME?
-
-
#NAME?
#NAME?
2013
Total Construction in
#NAME? ed
Cost
- Depreciati
- on,
Additions 350,000 (350,000) -
#NAME? Amortizati
on and
Impairmen
t Loss
#NAME? At beginning of year #NAME? - #NAME?
#NAME? Depreciation and amorti #NAME? - #NAME?
- At end of year #NAME? #NAME?
-
#NAME? Net Book VP #NAME? P #NAME? P #NAME?
#NAME?
Total
#NAME?
-
-
#NAME?
#NAME?
#NAME?
-
-
#NAME?
#NAME?
Total
#NAME?
-
-
#NAME?
#NAME?
#NAME?
-
-
#NAME?
#NAME?
Total
#NAME?
#NAME?
-
#NAME?
#NAME?
#NAME?
-
-
#NAME?
#NAME?
Total
#NAME?
-
-
#NAME?
#NAME?
#NAME?
-
-
#NAME?
#NAME?
2010 2009 2007
Fair Value Carrying Value Fair Value Carrying Value Fair Value Carrying Value
P #NAME? P #NAME? P #NAME? P #NAME? P 678,714 P 111,816 P
- - - 234,816
- - -
#NAME? #NAME? #NAME? #NAME? 1,100,000
#NAME? #REF! -
P #NAME? P #NAME? P #NAME? P #NAME? P 678,714 P 1,446,632 P
2007
P - P #REF! P #REF! P #REF! P (0) P

- #REF! #REF! #REF! 0
#REF! #REF! #REF! #REF! 1,800
#REF! #REF! #REF! #REF! 6,146,433 9,846,433
P #REF! P #REF! P #REF! P #REF! P 6,148,233 P 9,846,433 P
2013 2012 2011

Carrying Value Fair Value Carrying Value Fair Value Carrying Value 6.13%

- -
- -
#REF! P #REF! P #REF! P #REF! P

#REF! #REF! #REF! #REF!
#REF! P #REF! P #REF! P #REF! P #REF!
5.52% 6.65%
land area
2,117.48
54,600.00 20.07
143,803.00
221.00
200,741.48
Fair Value
111,816
234,816
-
1,100,000
-
1,446,632
-
-
9,846,433
9,846,433
5.70%
Jan - - -
Feb - - -
Mar 93,600.00 93,600.00 11,232.00 -
Apr - - -
May - - -
Jun 93,600.00 93,600.00 11,232.00 -
Jul - - -
Aug - - -
Sep 93,600.00 93,600.00 11,232.00 -
Oct - - -
Nov - - -
Dec 93,600.00 93,600.00 11,232.00 -
374,400.00 - 374,400.00 44,928.00 - - - - - - - -

Q1 93,600.00 - 93,600.00 11,232.00 - - - - - - -

Q2 93,600.00 - 93,600.00 11,232.00 - - - - - - -
Q3 93,600.00 - 93,600.00 11,232.00 - - - - - - -
Q4 93,600.00 - 93,600.00 11,232.00 - - - - - - -
374,400.00 - 374,400.00 44,928.00 - - - - - - -

- -
- 7,488.00 7,488.00
- 3,744.00 -
- -
- 7,488.00 7,488.00
- 3,744.00 -
- -
- 7,488.00 7,488.00
- 3,744.00 -
- -
- 7,488.00 7,488.00
- 3,744.00 -
-
- 44,928.00 -

-
- 11,232.00 -
- 11,232.00 -
- 11,232.00 -
- 11,232.00 -
- 44,928.00
MCIT

2012 24,296 24,296 - 2015
2013 8,880 8,880 2016
2014 7,968 7,968 2017
2015 7,488 7,488 2018
P 48,632 P 24,296 P 24,336
deferred tax for

NOLCO
2012 #NAME? 35,801 #NAME? 2015
2013 #NAME? #NAME? 2016
2014 #NAME? #NAME? 2017
2015 #NAME? #NAME? 2018
-
P #NAME? P 35,801 P #NAME?
actual nolco
2012 #NAME? 119,338.14 #NAME? 2015
2013 #NAME? #NAME? 2016
2014 #NAME? #NAME? 2017
2015 #NAME? #NAME? 2018
-
#NAME? - - 119,338.14 #NAME?
#NAME?
#NAME?
2015
Taxable #NAME?
Rate 0.30
#NAME?
or
MCIT
Rate 0.02
7,488.00
Future Years
2014 2015 2016

Installemnt sales
MCIT - 8,880.00
NOLCO #NAME? #NAME?
Depreciation
Warranty costs
- #NAME? #NAME?
Future
taxable
Installment sales
MCIT (24,336.00) 100% (24,336.00)
Depreciation
Warranty costs



Current tax expense #NAME? #NAME?

Deferred tax expense #NAME? #NAME?
Income tax expense #NAME? #NAME?
JOURNAL ENTRY
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2015
MCIT 24,336
NOLCO P #NAME? P
#NAME?
Deferred tax liabilities on:

Income on investment in associate
Revaluation surplus on investment in equity securities at deemed cost -
-
Net deferred tax assets (liabilities) #NAME?
reconciliation
2010
#NAME?
#NAME?

base rate
bank charges - 0.30
IBIT (13,770) #NAME? 0.30

nolco - #NAME? 0.30
mcit #NAME? 1.00
presentation
2015
Minimum corporate income tax -
Provision for deferred income tax asset on loss on investment in associates
Interest income subject to final tax -
Rate differential -
#NAME?
#NAME?
re Years
2017 2018 Total
-
7,968.00 7,488.00 24,336.00
-
-
#NAME?
#NAME?
Liablities
elated Balance
heet Accounts Classification
nstallment receivables Current
Non current
Warranty Obligations Current
2014 2,009.00
41,144 -
#NAME? P -
#NAME? -
- -
- -
#NAME? P -
2010 2,009.00
(75,628) P (82,756.24)
3,693 3,789.79
(3,693) -
(75,628) P (78,966.45)
(75,627.84)
0.00
#NAME?
-
-
-
-
#NAME?
-
-
#NAME?
-
-
-
#NAME?
#NAME?
2014
#NAME?
-
#NAME?
-
-
#NAME?
#NAME?
Taxable Sales
Sales of goods -
Sale of services #NAME? #NAME?
Commission -
Leasing income -
Others -
#NAME? #NAME?
Zero-rated sales
Exempt sales
#NAME? #NAME?

- -

Others

Excise taxes
Gross receipt tax
Real estate taxes prpaid #NAME?
Others #NAME?
Excise taxes
Real estate taxes #NAME?
Others #NAME? #NAME?
#NAME? 25,798
#NAME?
Withholding taxes on compensation and benefits -

Final withholding taxes
22,000
2012 licenses
real estate #NAME?
from petty cash #NAME?
bus permit 32,335
ctc 1,702
rf #NAME?
business permit #NAME?
real estate #NAME?
real estate #NAME?
realty 2013 #NAME?
#NAME?
Vatable zero rated total sales Output VAT Capital Non Capital Capital Non Capital Services qualified for VAT
Jan - -
Feb - -
Mar 111,600.00 111,600.00 13,392.00
Apr - -
May - -
Jun 99,600.00 99,600.00 11,952.00
Jul - -
Aug - -
Sep 93,600.00 93,600.00 11,232.00
Oct - -
Nov - -
Dec 93,600.00 93,600.00 11,232.00
398,400.00 - 398,400.00 47,808.00 - - - - - -

Vatable zero rated total sales Output VAT Capital Non Capital Capital Non Capital Services
Q1 111,600.00 - 111,600.00 13,392.00 - - - - - -

Q2 99,600.00 - 99,600.00 11,952.00 - - - - - -
Q3 93,600.00 - 93,600.00 11,232.00 - - - - - -
Q4 93,600.00 - 93,600.00 11,232.00 - - - - - -
398,400.00 - 398,400.00 47,808.00 - - - - - -

others Total purchases Input VAT Paid Running VAT
- - -
- - 8,928.00 8,928.00
- - 4,464.00 -
- - -
- - 8,208.00 8,208.00
- - 3,744.00 -
- - -
- - 7,488.00 7,488.00
- - 3,744.00 -
- - -
- - 7,488.00 7,488.00
- - 3,744.00 -
-
- - - 47,808.00 -
Total purchases Input VAT Paid Running VAT

-
- - 13,392.00 - - -
- - 11,952.00 - - -
- - 11,232.00 - - -
- - 11,232.00 - - -
- - 47,808.00
2014
Cost
At beginning of year P 600,000 P 174,568 P 173,453 P #NAME? P
Additions -
At end of year 600,000 174,568 173,453 #NAME?
Accumulated Depreciation, Amortization

and Impairment Loss
At beginning of year 117,500 174,568 173,453 -
Depreciation and amortization 30,000
At end of year 147,500 174,568 173,453
Net Book Value P 452,500 P - P 0 P #NAME? P
2013
Cost
Additions 350,000 - (350,000)
and Impairment Loss
At end of year 117,500 174,568 173,453
2012
Cost
Additions -
and Impairment Loss
At end of year 87,500 174,568 173,453
2011
Cost
At beginning of year P 250,000 P 174,568 P 173,453 P - P
Additions - #NAME?
and Impairment Loss
At end of year 75,000 174,568 173,453
2010
Cost
At beginning of year P 250,000 P 174,568 P 173,453 P P
Additions - -
At end of year 250,000 174,568 173,453
and Impairment Loss
At beginning of year 50,000 174,568 157,069
Depreciation and amortization 12,500 16,384
At end of year 62,500 174,568 173,453
Net Book Value P 187,500 P - P 0 P P
2009
Transportation
Cost
At beginning of year P 250,000 P 174,568 P 173,453 P 598,021
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At beginning of year 37,500 174,568 122,378 334,446
Depreciation and amortization 12,500 34,691 47,191
At end of year 50,000 174,568 157,069 381,637
Net Book Value 200,000 - 16,384 216,384
2008
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 37,500 174,568 122,378 334,446
Net Book Value 212,500 - 51,075 263,575

investment property
2014
Land Building Total

Cost
At beginning of year P 6,060,941 P 4,579,635 P 10,640,575
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss

2013
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
investment property
2012
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
2011
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
2010
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2008
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009 2009 2009 2008

Trade payables
Withholding and others P Err:509 P Err:509 P 5,144 P - P
P Err:509 P Err:509 P 5,144 P - P
2014 2013 ###

Financial Assets
Cash P 48,724 P 48,724 P #NAME? P #NAME? P
Receivables
Trade - -
Others - -
Accounts payable P - P - P - P - P
Income tax - - - -
Customers' deposit #NAME? #NAME? #NAME? #NAME?
Due to related parties 1,427,393 1,427,393 1,577,014 1,577,014
dcf = cf / (1+r1)
rate 6.51% 5.52%
value Land Building

Floor area - sq. m

TCT # 12697

Corporation
TCT # 13495 - P3,300,000

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
D
ep
re
ci
ati
on
,
A
m
ort
iz 2013
ati
on
Total an Construction in
d Building Progress Total
#NAME? ImCost
- paAt P 250,000 P #NAME? P #NAME?
- irAddit 350,000 (350,000) -
#NAME? m At en 600,000 #NAME? #NAME?
en
t
Lo
ss
465,521 At be 87,500 - 87,500
30,000 Depre 30,000 - 30,000
- At en 117,500 117,500
-
495,521 Ne P 482,500 P #NAME? P #NAME?
#NAME?
Total
#NAME?
-
-
#NAME?
435,521
30,000
-
-
465,521
#NAME?
Total
#NAME?
-
-
#NAME?
423,021
12,500
-
-
435,521
#NAME?
Total
598,021
#NAME?
-
#NAME?
410,521
12,500
-
-
423,021
#NAME?
Total
598,021
-
-
598,021
381,637
28,884
-
-
410,521
187,500
### 2009 2007
Fair Value Carrying Value Fair Value Carrying Valu Fair Value Carrying Value
P #NAME? P### P ### P ### P 678,714 P 111,816
- ### - 234,816
- ### -
- ### ### ### 1,100,000
#NAME? ### -
P #NAME? P### P ### P ### P 678,714 P 1,446,632
2007
P - P### P ### P ### P (0) P
- ### ### ### 0
#NAME? ### ### ### 1,800
#NAME? ### ### ### 6,146,433 9,846,433
P #NAME? P### P ### P ### P 6,148,233 P 9,846,433
###
Carrying Value Fair Value Carrying Value ### 5.70%
#NAME? P #NAME? P###
-
-
- - ###
#NAME? #NAME? ###
#NAME? P #NAME? P
- -
#NAME? #NAME? ###
#NAME? #NAME? ###
5.52% ###
land area
2,117.48
54,600.00 20.07
143,803.00
221.00
200,741.48
Carrying Value Fair Value
P 111,816
234,816
-
1,100,000
-
P 1,446,632
-
-
9,846,433
P 9,846,433
MCIT

2012 24,296 24,296 2015
2013 8,880 8,880 2016
2014 7,968 7,968 2017
P 41,144 P - P 41,144
deferred tax for

NOLCO
2012 #NAME? #NAME? 2015
2013 #NAME? #NAME? 2016
2014 #NAME? #NAME? 2017
-
P #NAME? P - P #NAME?
actual nolco
Year Applied applied nolco
Incurred Amount previous year current year expired unapplied
2012 #NAME? #NAME? 2015
2013 #NAME? #NAME? 2016
2014 #NAME? #NAME? 2017
-
#NAME? - - - #NAME?
#NAME?
#NAME?
2014
Taxable #NAME?
Rate 0.30
#NAME?
or
MCIT
Rate 0.02
7,968.00
Future Years
2014 2015 2016

Installemnt sales
MCIT 24,295.50 8,880.00
NOLCO #NAME? #NAME?
Depreciation
Warranty costs
- #NAME? #NAME?
Future
taxable
Installment sales
MCIT (41,143.50) 100% (41,143.50)
Depreciation
Warranty costs



Current tax expense #NAME? #NAME?

Deferred tax expense #NAME? #NAME?
Income tax expense #NAME? #NAME?
JOURNAL ENTRY
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2014
MCIT 41,144
NOLCO P #NAME? P
#NAME?

Revaluation surplus on investment in equity securities at deemed cost -
-
reconciliation
2010
#NAME?
#NAME?

base rate
bank charges - 0.30
IBIT (13,770) #NAME? 0.30

nolco - #NAME? 0.30
mcit #NAME? 1.00
presentation
2014
Minimum corporate income tax -
Rate differential -
#NAME?
#NAME?
re Years
2017 2018 Total
-
7,968.00 41,143.50
#NAME? #NAME?
-
-
#NAME? - #NAME?
#NAME?
#NAME?
Liablities
elated Balance
nstallment receivables Current
Non current
2013 2,009.00
33,176 -
#NAME? P -
#NAME? -
- -
- -
#NAME? P -
2010 2,009.00
(75,628) P (82,756.24)
3,693 3,789.79
(3,693) -
(75,628) P (78,966.45)
(75,627.84)
0.00
#NAME?
-
-
-
-
#NAME?
-
-
#NAME?
-
-
-
#NAME?
#NAME?
2013
#NAME?
(8,880)
#NAME?
-
-
#NAME?
#NAME?
Taxable Sales
Sales of goods -
Commission -
Leasing income -
Others -
398,400 47,808
Zero-rated sales
Exempt sales
398,400 47,808 ok 2014

- -

Others

Excise taxes
Gross receipt tax
Others #NAME?
Excise taxes
Real estate taxes 25,798
Others 1,330 40,805
66,603 ok 2014 25,798
66,603
Withholding taxes on compensation and benefits -

4,400 ok 2014
2012 licenses
real estate #NAME?
bus permit 32,335
ctc 1,702
rf #NAME?
real estate #NAME?
real estate #NAME?
realty 2013 #NAME?
#NAME?
PROPOSED AJE # 1
cash 809,872.57
income 444,000.00
?? 365,872.57
PROPOSED AJE # 2
prepaid 8,520.00
?? 8,520.00
Jan - -
Feb - -
Mar 111,000.00 111,000.00 13,320.00
Apr - -
May - -
Jun 111,000.00 111,000.00 13,320.00
Jul - -
Aug - -
Sep 111,000.00 111,000.00 13,320.00
Oct - -
Nov - -
Dec 111,000.00 111,000.00 13,320.00
444,000.00 - 444,000.00 53,280.00 - - - - - -

Q1 111,000.00 - 111,000.00 13,320.00 - - - - - -

Q2 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q3 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q4 111,000.00 - 111,000.00 13,320.00 - - - - - -
444,000.00 - 444,000.00 53,280.00 - - - - - -

- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
-
- - - 53,280.00 -

-
- - 13,320.00 - - -
- - 13,320.00 - - -
- - 13,320.00 - - -
- - 13,320.00 - - -
- - 53,280.00
2013
Cost
Additions 350,000 - (350,000)

and Impairment Loss
At end of year 117,500 174,568 173,453
2012
Cost
Additions -
and Impairment Loss
At end of year 87,500 174,568 173,453
2011
Cost
Additions - #NAME?
and Impairment Loss
At end of year 75,000 174,568 173,453
2010
Cost
Additions - -
At end of year 250,000 174,568 173,453
and Impairment Loss
At end of year 62,500 174,568 173,453
2009
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 50,000 174,568 157,069 381,637
Net Book Value 200,000 - 16,384 216,384
2008
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 37,500 174,568 122,378 334,446
Net Book Value 212,500 - 51,075 263,575
investment property
2014
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
Disposals/retirement - 228,982 228,982

2013
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
investment property
2012
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
2011
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
2010
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2008
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009 2009 2009 2008

Trade payables
P Err:509 P Err:509 P 5,144 P - P
2013 2012 ###

Financial Assets
Receivables
Trade - -
Others - -
Accounts payable P - P - P #NAME? P #NAME? P
Income tax - - - -
Due to related parties 1,577,014 1,577,014 #NAME? #NAME?
dcf = cf / (1+r1)
rate 5.52% 5.52%
value Land Building

Floor area - sq. m

TCT # 12697

Corporation
TCT # 13495 - P3,300,000

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50

11,297,249.75 6,717,614.87 4,579,634.88

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
D
ep
re
ci
ati
on
,
A
m
ort
iz 2013
ati
on
an Construction in
Total d Building Progress Total
ImCost
#NAME? paAt P 250,000 P #NAME? P #NAME?
- irAddit 350,000 (350,000) -
- m At en 600,000 #NAME? #NAME?
en
#NAME?
t
Lo
ss
At be 87,500 - 87,500
435,521 Depre 30,000 - 30,000
30,000 At en 117,500 117,500
-
- Ne P 482,500 P #NAME? P #NAME?
465,521
#NAME?
Total
#NAME?
-
-
#NAME?
423,021
12,500
-
-
435,521
#NAME?
Total
598,021
#NAME?
-
#NAME?
410,521
12,500
-
-
423,021
#NAME?
Total
598,021
-
-
598,021
381,637
28,884
-
-
410,521
187,500
2007
### 2009 2007

Carrying Value Fair Value Carrying Value Fair Value Carrying Valu Fair Value Carrying Value
#NAME? P #NAME? P ### P ### P ### P 678,714 P 111,816
- ### - 234,816
- ### -
- - ### ### ### 1,100,000
#NAME? #NAME? ### -
#NAME? P #NAME? P ### P ### P ### P 678,714 P 1,446,632
P - P ### P ### P ### P (0) P
- ### ### ### 0
#NAME? #NAME? ### ### ### 1,800
#NAME? #NAME? ### ### ### 6,146,433 9,846,433
#NAME? P #NAME? P ### P ### P ### P 6,148,233 P 9,846,433
6.65% ### ### 5.70%
land area
2,117.48
54,600.00
143,803.00
221.00
200,741.48 20.07
P 111,816
234,816
-
1,100,000
-
P 1,446,632
-
-
9,846,433
P 9,846,433
MCIT

2010 P #NAME? P 3,693 P #NAME? 2013
2011 - 2014
2012 24,296 24,296 2015
2013 8,880 8,880 2016
-
deferred tax for

NOLCO
2010 P #NAME? P 76,113 P #NAME? 2013
2011 - - 2014
2012 #NAME? #NAME? 2015
2013 #NAME? #NAME? 2016
-

2010 #NAME? 253,708.73 #NAME? 2,013.00
2011 - 2,014.00
2012 #NAME? #NAME? 2,015.00
2013 #NAME? #NAME? 2,016.00
-
#NAME? - - 253,708.73 #NAME?
#NAME?
#NAME?
Pretax financial income ###
2013
Taxable income ###
Taxable ###
Rate ###
###
or
MCIT
Gross profit ###
Rate ###
###
Current tax expense ###
Future Years
### 2014 ### 2016 2017

Installemnt sales
MCIT ### 8,880.00
NOLCO ### #NAME?
Depreciation
Warranty costs
### - ### #NAME? -
Future
taxable
(Deductible)
Tax Deferred tax
Temporary Diferrence Amounts
Rate (A Liablities
Installment sales
MCIT ### 100%###
NOLCO ### 30%###
Depreciation
Warranty costs
Totals ### ### -
Deferred tax asset at end of year ###

Deferred tax asset at beginnning of year ###
Deferred tax expense (benefit) ###


Net deferred tax expense ###
Current tax expense ### #NAME?

Deferred tax expense ### #NAME?
Income tax expense ### #NAME?
JOURNAL ENTRY
income tax exp[ense ### #NAME?
deferred tax asset ###
Resulting
Temporary differences (A Liability Sheet Accounts
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2013 2012
MCIT 33,176 -
NOLCO P #NAME? P - P
#NAME? -

Revaluation surplus on investment in equity securities at deemed cost - -
- -
Net deferred tax assets (liabilities) P #NAME? P - P
reconciliation
2010 2010
Provision (benefit from) for income tax at statutory tax rates P #NAME? P (75,628) P
Minimum corporate income tax 33,176 3,693
Provision for income tax P #NAME? P (75,628) P
#NAME? (75,627.84)
#NAME? 0.00

base rate
Income from operation ### #NAME?### #NAME?
other income charges -
interest income - ### -
bank charges - ### -
-
IBIT ### #NAME?### #NAME?
-
reverse reconcilitin items -
nolco - #NAME?### #NAME?
intrest income - -### -
rate differential - -### -
mcit ### 8,880### (8,880)
#NAME?
#NAME?
presentation #NAME?
2013 2,012
Provision (benefit from) for income tax at statutory tax rates P #NAME? P #NAME?
Minimum corporate income tax (8,880) (24,296)
Net operating loss carry over (NOLCO) #NAME? 35,700
Rate differential -
Movements in temporary differences #NAME? -
Provision for income tax P #NAME? P #NAME?
#NAME?
Total
-
33,175.50
#NAME?
-
-
#NAME?
#NAME?
#NAME?
Classification
Current
Non current
Current
2,009.00
-
-
-
-
-
2,009.00
(82,756.24)
3,789.79
-
(78,966.45)
FROM total income tax expesne

Taxable Sales
Sales of goods -
Commission -
Leasing income -
Others -
444,000 53,280
Zero-rated sales
Exempt sales
444,000 53,280

- -

Others

Excise taxes
Gross receipt tax
Others #NAME?
Excise taxes
Others -
#NAME?
Withholding taxes on compensation and benefits

4,400
2012 licenses
real estate #NAME?
bus permit 32,335
ctc 1,702
rf #NAME?
real estate #NAME?
real estate #NAME?
realty 2013 #NAME?
#NAME?
AFADECO SUMMARY OF FUND TRANSFER
Date Amount
Beginning Balance P 26,092
10-Jan 50,000
18-Feb 40,000
13-Mar 45,000
11-Apr 35,000
6-May 35,000
4-Jun 30,000
3-Jul 40,000
14-Aug 20,000
9-Sep 25,000
14-Oct 40,000
13-Nov 30,000
12-Dec 30,000
Total P 420,000
Jan - -
Feb - -
Mar 143,885.00 143,885.00 17,266.20
Apr - -
May - -
Jun 111,000.00 111,000.00 13,320.00
Jul - -
Aug - -
Sep 111,000.00 111,000.00 13,320.00
Oct - -
Nov - -
Dec 111,000.00 111,000.00 13,320.00
476,885.00 - 476,885.00 57,226.20 - - - - - -

Q1 143,885.00 - 143,885.00 17,266.20 - - - - - -

Q2 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q3 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q4 111,000.00 - 111,000.00 13,320.00 - - - - - -
476,885.00 - 476,885.00 57,226.20 - - - - - -

- - -
- - 12,826.20 12,826.20
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - -
- - 8,880.00 8,880.00
- - 4,440.00 -
- - - 57,226.20

-
- - 17,266.20 - - -
- - 13,320.00 - - -
- - 13,320.00 - - -
- - 13,320.00 - - -
- - 57,226.20
PROPOSED AJE # 1
representaion 100,000.00
advances 100,000.00
to reclassify
PROPOSED AJE # 2
provision for 24,295.50
income tax 24,295.50 24,295.50
prepaid 24,295.50
to take up tax provision
PROPOSED AJE # 3
cash 132,849.01
advances from officers 132,849.01
to set up cash balance
PROPOSED AJE # 4
prepaid 78,277.49
advances 78,277.49
to set up prepaid after computing tax due
PROOSED AJE # 5
ap 30,986.20
advances 30,986.20
to set up liabilty
PROPOSED AJE #6
advances 4,596,353.83
PROPOSED AJE # 7
taxes #NAME?
prepaid #NAME?
misc 1,250.00
MCIT

2010 P #NAME? P P #NAME? 2013
-
NOLCO
2010 P #NAME? P P #NAME? 2013
-

2010 #NAME? #NAME? #NAME?
-
#NAME? - #NAME? - #NAME? #NAME?
#NAME?
Taxable Sales
Sales of goods -
Commission -
Leasing income -
Others -
476,885 57,226
Zero-rated sales
Exempt sales
476,885 57,226

- -

Others

Excise taxes
Gross receipt tax
Others #NAME?
Excise taxes
Others #NAME?
#NAME?
Withholding taxes on compensation and benefits

3,800
2012 licenses
real estate #NAME?
bus permit 32,335
ctc 1,702
rf #NAME?
real estate #NAME?
real estate #NAME?
realty 2013 #NAME?
#NAME?
PROPOSED AJE # 1
cash 372,584.32 metro sa 16,028.86
interest income 1,550.68 metro ca 27,461.22
ap 374,135.00 sual 4,226.43
to take up balances of bnk
47,716.51
PROPOSED AJE # 2 #NAME?
rental income 43,000.00 #NAME?
ap 43,000.00
2550q 444,000.00
PROPOSED AJE # 3 43,000.00
inventory 130,393.60
loss on imp 130,393.60
PROPOSED AJE # 4
cost of sal 885,656.11
investment property 885,656.11
PROOSED AJE # 5
AR 786,273
AP 786,272.50
ALL receivables were liquidated
PROPOSED AJE # 6
Depreciatio 12,500.00
acc depreciation 12,500.00
PROPOSED AJE # 7
a/p 1,179,537.50
adv from of 1,179,537.50
PROPOSED AJE # 8
prepaid items 74,003.94 #NAME?
adv 74,003.94 #NAME?
#NAME?
PROPOSED AEJ # 9
deferred income tax 79,320.73
retained ea 79,320.73
PROPOSED AJE # 10
Depreciatio 228,981.74
acc dep 228,981.74
PROPOSED AJE # 11
taxes 20,773.60
miscellane 20,773.60
PROPOSED AJE # 12
investment 740,000.00
advances 740,000.00
interest
191.43
1,359.25
1,550.68
Jan - -
Feb - -
Mar 111,000.00 111,000.00 13,320.00
Apr - -
May - -
Jun 111,000.00 111,000.00 13,320.00
Jul - -
Aug - -
Sep 111,000.00 111,000.00 13,320.00
Oct - -
Nov - -
Dec 111,000.00 111,000.00 13,320.00
444,000.00 - 444,000.00 53,280.00 - - - - - -

Q1 111,000.00 - 111,000.00 13,320.00 - - - - - -

Q2 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q3 111,000.00 - 111,000.00 13,320.00 - - - - - -
Q4 111,000.00 - 111,000.00 13,320.00 - - - - - -
444,000.00 - 444,000.00 53,280.00 - - - - - -

- - -
- - -
- - 4,440.00 ( 8,880.00)
- - ( 8,880.00)
- - ( 8,880.00)
- - 4,440.00 ( 17,760.00)
- - ( 17,760.00)
- - ( 17,760.00)
- - 4,440.00 ( 26,640.00)
- - ( 26,640.00)
- - ( 26,640.00)
- - 4,440.00 ( 35,520.00)
- - - 17,760.00

-
- - 4,440.00 ( 8,880.00) - (8,880.00)
- - 4,440.00 ( 26,640.00) - (26,640.00)
- - 4,440.00 ( 35,520.00) - (35,520.00)
- - 4,440.00 ( 44,400.00) - (44,400.00)
- - 17,760.00
2011
Cost
Additions - #NAME?
and Impairment Loss
At end of year 75,000 174,568 173,453
2010
Cost
Additions - -
At end of year 250,000 174,568 173,453
and Impairment Loss
At end of year 62,500 174,568 173,453
2009
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 50,000 174,568 157,069 381,637
Net Book Value 200,000 - 16,384 216,384
2008
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 37,500 174,568 122,378 334,446
Net Book Value 212,500 - 51,075 263,575
investment property
2010
Land Building Total

Cost
Additions - - -
At end of year 6,060,941 4,579,635 10,640,575
and Impairment Loss
2010
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2008
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009 2009 2009 2008

Trade payables
P Err:509 P Err:509 P 5,144 P - P
2011 2010 ###

Financial Assets
Receivables
Trade - -
Others - -
Investment in shares - - 740,000 740,000
Refundable deposits #NAME? #NAME? -
Accounts payable P P - P #NAME? P #NAME? P
Income tax - (0) (0)
Due to related parties #NAME? #NAME? #NAME? #NAME?
dcf = cf / (1+r1)
rate 6.65% 6.55%
value Land Building

Floor area - sq. m

TCT # 12697

Corporation
TCT # 13495 - P3,300,000

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50

11,297,249.75 6,717,614.87 4,579,634.88

lot 1 110 1,244,343.89
lot 2 111 1,255,656.11
221 2,500,000.00
cost 2,500,000.00
0.27 0.00 0.00
2,500,000.00
sales 1300000
cost 1,255,656.11
656,674.37
643,325.63
Total
598,021
#NAME?
-
#NAME?
410,521
12,500
-
-
423,021
#NAME?
Total
598,021
-
-
598,021
381,637
28,884
-
-
410,521
187,500
2007
2008 2007
Carrying Value Fair Value Carrying Value Fair Value Carrying Value
#NAME? P #NAME? P 678,714 P 678,714 P 111,816 P
- - 234,816
- -
Err:509 - 1,100,000
- -
Err:509 P #NAME? P 678,714 P 678,714 P 1,446,632 P
#NAME? P #NAME? P (0) P (0) P
(0) (0) 0 0
#NAME? #NAME? 1,800 1,800
#NAME? #NAME? 6,146,433 6,146,433 9,846,433
#NAME? P #NAME? P 6,148,233 P 6,148,233 P 9,846,433 P
6.13% 6.66% 5.70%
land area
2,117.48
54,600.00
143,803.00
221.00
200,741.48 20.07
Fair Value
111,816
234,816
-
1,100,000
-
1,446,632
-
-
9,846,433
9,846,433
Taxable income ###
Taxable ###
Rate ###
###
or
MCIT
Gross profit ###
Rate ###
###
Future Years
### 2012 ### 2014

Installemnt sales
MCIT
NOLCO
Depreciation
Warranty costs
### - ### -
Future
taxable
(Deductible)
Tax Deferred tax
Rate (A Liablities
Installment sales
MCIT ### 100%###
NOLCO ### 30%###
Depreciation
Warranty costs
Totals ### ### -




Deferred tax expense ###
Income tax expense ###
JOURNAL ENTRY
income tax exp[ense ### Err:509
deferred tax asset ### Err:509
income tax payable #REF!
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2011 2010
MCIT - 3,693
NOLCO P - P 75,628
- 79,321

- -
Net deferred tax assets (liabilities) P - P 79,321
reconciliation
2010 2010
Provision (benefit from) for income tax at statutory tax rates P #NAME? P (75,628)
Minimum corporate income tax - 3,693
Provision for income tax P #NAME? P (75,628)
#NAME? ###
#NAME? 0.00
ure Years
2015 Total
-
-
- -
-
-
elated Balance
stallment receivables Current
Non current
2,009.00
-
P -
-
-
-
P -
2,009.00
P ###
3,789.79
-
P ###
MCIT

2010 P #NAME? P P #NAME? 2013
-
NOLCO
2010 P #NAME? P P #NAME? 2013
-

-
#NAME?
Jan 41,200.00 41,200.00 4,944.00

Feb 41,200.00 41,200.00 4,944.00
Mar 41,200.00 41,200.00 4,944.00
Apr 32,800.00 32,800.00 3,936.00
May 32,800.00 32,800.00 3,936.00
Jun 36,800.00 36,800.00 4,416.00
Jul 36,800.00 36,800.00 4,416.00
Aug 36,800.00 36,800.00 4,416.00
Sep 36,800.00 36,800.00 4,416.00
Oct 36,800.00 36,800.00 4,416.00
Nov 36,800.00 36,800.00 4,416.00
Dec 36,800.00 36,800.00 4,416.00
446,800.00 - 446,800.00 53,616.00 - - - - - -

Q1 123,600.00 - 123,600.00 14,832.00 - - - - - -

Q2 102,400.00 - 102,400.00 12,288.00 - - - - - -
Q3 110,400.00 - 110,400.00 13,248.00 - - - - - -
Q4 110,400.00 - 110,400.00 13,248.00 - - - - - -
446,800.00 - 446,800.00 53,616.00 - - - - - -

- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 3,936.00 -
- - 3,936.00 -
- - 4,416.00 -
- - 4,416.00 -
- - 4,416.00 -
- - 4,416.00 -
- - 4,416.00 -
- - 4,416.00 -
- - 4,416.00 -
- - - 53,616.00

-
- - 14,832.00 - - -
- - 12,288.00 - - -
- - 13,248.00 - - -
- - 13,248.00 - - -
- - 53,616.00
PROPOSED AJE # 1
income 446,800.00
withhilding tax 17,480.00
output vat 41,952.00
cash 471,272.00
488,752.00 488,752.00
-
PROPOSED AJE # 2
Cash 1,263,756.99
advances 396,380.00
Insurance 6,270.00
Light & Water 27,441.54
Janitorial -
Prof. Fee 42,000.00
Taxes&Lic. 58,877.39
Representation 112,518.00
Telephone 12,478.14
Dues&Sub. 64,434.00
Repairs& Mtnce 53,807.25
Royalties -
Travel & trans 3,696.50
Supplies 4,289.75
Gas& Oil 4,630.00
cash fund 366,800.00
tax wsithhlding -
OUTPUTvat 54,144.00
survey fee 8,000.00
christmas gift 14,500.00
to record disbursement
PROPOSED AJE # 3
cash 38,362.43
interest 249.80
advances 38,112.63
bank balance 38,362.43

interst duering the year 249.80
passbook
PROPOSED AJE # 4
accounts receivable 396,380.00
accounts payable 7,048.00
advances 403,428.00
PROPOSED AJE # 5
cash 329,964.56
advances 329,964.56
current account 16,479.09 bank balnce per books adjustment

summary of bank
mbtc sa 093-3-01127603-2 38,362.43 38,362.43
mbtc ca 7002039547 16,479.09 #NAME? #NAME?
PROPOSED AJE # 6 sual sa 01-000-0042 435,048.97 435,048.97
cash 435,048.97 489,890.49 #NAME? #NAME?
advances 1,366.14 435,048.97
interest 1,366.14
sual balance 435,048.97

interest 1,366.14
PROPOSED AJE # 7
income tax payable 3,790.00
representation 3,790.00
to reclass
PROPOSED AJE # 8
deprecation 257,865.74
accumulated deprecaition 257,865.74
to take up deprecation
PROPOSED AJE # 9
professional 8,000.00
miscellanoes 8,000.00
to reclass survey fee
PROPOSED AJE # 10
advances from stockholders 1,100,000.00
customers' deposit 1,100,000.00
to record downpayment for conditional sale of
lot to shekinah grace school
PROPOSED AJE # 11
afs 740,000.00
advances from stockholders 740,000.00
to record investment in stocks
gemcor
PROPOSED AJE # 12
advances 6,000.00
customers deposit 6,000.00
mary jane bito
customers deposit
PROPOSED AJE # 13
income tax exp[ense 3,692.89 79,320.73
deferred tax asset 79,320.73
TO TAKE up provisonf or income tax
2010
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 62,500 174,568 173,453 410,521
Net Book Value 187,500 - 0 187,500
2009
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 50,000 174,568 157,069 381,637
Net Book Value 200,000 - 16,384 216,384
2008
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 37,500 174,568 122,378 334,446
Net Book Value 212,500 - 51,075 263,575
investment property
2010
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2008
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009 2008 2007

Trade payables
Withholding and others P 5,144 P - P
P 5,144 P - P
2010 2009
Financial Assets
Cash P #NAME? P #NAME? P #NAME? P #NAME?
Receivables
Trade - -
Others - -
Available for sale investment 740,000 Err:509
Refundable deposits - -
P #NAME? P #NAME? P Err:509 P #NAME?
Accounts payable P #NAME? P #NAME? P #NAME? P #NAME?
Income tax (0) (0) (0) (0)
Due to related parties #NAME? #NAME? #NAME? #NAME?
P #NAME? P #NAME? P #NAME? P #NAME?
dcf = cf / (1+r1)
rate 6.55% 6.13%
2008 2007
P 678,714 P 678,714 P 111,816 P 111,816
- 234,816 234,816
- -
- 1,100,000 1,100,000
- -
P 678,714 P 678,714 P 1,446,632 P 1,446,632
P (0) P (0) P -
0 0 -
1,800 1,800
6,146,433 6,146,433 9,846,433 9,846,433
P 6,148,233 P 6,148,233 P 9,846,433 P 9,846,433
6.66% 5.70%
MCIT

2010 P #NAME? P P #NAME? 2013
-
NOLCO
2010 P #NAME? P P #NAME? 2013
-

-
#NAME?
Taxable income ###
Taxable ###
Rate ###
###
or
MCIT
Gross profit ###
Rate ###
###
Future Years
### 2011 ### 2013

Installemnt sales
MCIT ###
NOLCO ###
Depreciation
Warranty costs
### - ### -
Future
taxable
(Deductible)
Tax Deferred tax
Rate (A Liablities
Installment sales
MCIT ### 100%###
NOLCO ### 30%###
Depreciation
Warranty costs
Totals ### ### -




Deferred tax expense ###
Income tax expense ###
JOURNAL ENTRY
income tax exp[ense ### #NAME?
deferred tax asset ###
Resulting
Current liabilities
Income tax payable


Income tax expense
Current
Deferred
Net income
2010 2009
MCIT #NAME? -
NOLCO P #NAME? P -
#NAME? -

- -
Net deferred tax assets (liabilities) P #NAME? P -
reconciliation
2010 2009
Provision (benefit from) for income tax at statutory tax rates P #NAME? P #NAME?
Minimum corporate income tax #NAME? 3,790
Movements in temporary differences (3,693) -
#NAME?
#NAME?
ure Years
2014 Total
-
-
- -
#NAME?
#NAME?
elated Balance
stallment receivables Current
Non current
2009
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 50,000 174,568 157,069 381,637
Net Book Value 200,000 - 16,384 216,384
2008
Transportation
Cost
Additions - - -
At end of year 250,000 174,568 173,453 598,021
and Impairment Loss
At end of year 37,500 174,568 122,378 334,446
Net Book Value 212,500 - 51,075 263,575

investment property
2009
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2008
Land Building Total

Cost
Additions - - -
At end of year 6,717,615 4,579,635 11,297,250
and Impairment Loss
2009 2008 2007

Trade payables
Withholding and others P 5,144 P - P
P 5,144 P - P
2009 2008
Financial Assets
Cash P #NAME? P #NAME? P 678,714 P 678,714
Receivables
Trade - -
Others - -
Available for sale investment Err:509 -
Refundable deposits - -
P Err:509 P #NAME? P 678,714 P 678,714
Accounts payable P #NAME? P #NAME? P (0) P (0)
Income tax (0) (0) 0 0
Customers' deposit #NAME? #NAME? 1,800 1,800
Due to related parties #NAME? #NAME? 6,146,433 6,146,433
P #NAME? P #NAME? P 6,148,233 P 6,148,233
dcf = cf / (1+r1)
rate 6.13% 6.66%
2007
P 111,816 P 111,816
234,816 234,816
-
1,100,000 1,100,000
-
P 1,446,632 P 1,446,632
P -
-
9,846,433 9,846,433
P 9,846,433 P 9,846,433
5.70%
Type Amount Apportionement Maximum % ceiling taxable representation

Commission #NAME? - #NAME?
Service #NAME? #NAME? #NAME? #NAME?
Sales #NAME? - #NAME?
total representation per #NAME?

totally allowable
Jan 34,900.00 34,900.00 4,188.00

Feb 35,200.00 35,200.00 4,224.00
Mar 35,200.00 35,200.00 4,224.00
Apr 35,200.00 35,200.00 4,224.00
May 41,200.00 41,200.00 4,944.00
Jun 41,200.00 41,200.00 4,944.00
Jul 41,200.00 41,200.00 4,944.00
Aug 41,200.00 41,200.00 4,944.00
Sep 41,200.00 41,200.00 4,944.00
Oct 41,200.00 41,200.00 4,944.00
Nov 41,200.00 41,200.00 4,944.00
Dec 41,200.00 41,200.00 4,944.00
470,100.00 - 470,100.00 56,412.00 - - - - - -

Q1 105,300.00 - 105,300.00 12,636.00 - - - - - -

Q2 117,600.00 - 117,600.00 14,112.00 - - - - - -
Q3 123,600.00 - 123,600.00 14,832.00 - - - - - -
Q4 123,600.00 - 123,600.00 14,832.00 - - - - - -
470,100.00 - 470,100.00 56,412.00 - - - - - -

1702q
q1 -
q2 -
q3 -
1604e
professional fee 41,000.00
per books 149,287.00

impairment 18,893.70
2307 - 2009
sual
q1 3,750.00 75,000.00
q2 3,750.00 75,000.00
q3 3,750.00 75,000.00
q4 3,750.00 75,000.00
billion
q1 255.00 5,100.00
q2 270.00 5,400.00
q3 270.00 5,400.00
q4 270.00 5,400.00
16,065.00 321,300.00
accruals at 2009
withholding 200.00
vat 4,944.00
5,144.00
others Total purchases Input VAT Paid Running VAT 70% cap final running vat
- - 4,188.00 -
- - 4,224.00 -
- - 4,224.00 -
- - 4,224.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - 4,944.00 -
- - - 56,412.00

-
- - 12,636.00 - - -
- - 14,112.00 - - -
- - 14,832.00 - - -
- - 14,832.00 - - -
- - 56,412.00
PROPOSED AJE # 1
cash 506918.5
ap 506918.5
cash balance
093-301127603-2 63162.58
7-002-03954-7 41813.55
219-10-0000392-0 0
01-000-0042 7223.36
112199.49
PROPOSED AJE # 2
impairment 18893.7
inventory 18893.7
to record impairment
PROPOSED AJE # 3
income 25000
ap 25000
PROPOSED AJE # 4
depreciati 47191
accumulated 47191
depreciaiton of property
PROPOSED AJE # 5
depreciatio 228982
accumulated 228982
depreciation of investment property
PROPOSED AJE # 6
proviion cu 3789.79
income tax 3789.79
to take up mcit
PROPOSED AJE # 7
defered in #NAME?
benefit #NAME?
PROPOSED AJE # 8
prepaid 12275.21
ap 12275.21
PROPOSED AJE # 9
retained ea 82756
deferred income tax 82756
to derecognize deferred
PROPOSED AJE # 10
ap 559,702.12
advacnes fr 559,702.12
to offset
PROPOSED AJE # 11
representation 112000
miscellane 112000
reclass
AFA DEVELOPMENT CORPORATION
SCHEDULE OF TAXES AND LICENSES
FOR THE YEAR ENDED DECEMBER 31, 2008
INTERNAL REVENUE TAXES

Percentage taxes P
Annual registration fee
Specific taxes
Others:
5% gross receipt tax
Firearms license fee
Others
LOCAL TAXES
Residence taxes
Basic
Additional
Real estate taxes
Business taxes
Occupation taxes
OTHERS
Motor vehicle registration fees
Others
TOTAL TAXES AND LICENSES PER INCOME TAX RETURN P -
(The above does not include taxes charged directly to cost of sales)
COMPUTATION OF INCOME TAX

INCOME BEFORE INCOME TAX PER STATEMENT OF INCOME P #NAME?
DEDUCT NON-TAXABLE ITEMS
Capital gains on sale of investment for which capital gains tax were already paid P 671,778.36
671,778.36
ADD NON-DEDUCTIBLE ITEMS
P
NET TAXABLE INCOME PER INCOME TAX RETURN P #NAME?

TAX COMPUTED AS FOLLOWS:
Higher of P
Minimum corporate income tax -2% of P441,813.70 #NAME?
Normal computation - -
P #NAME?
fut
carrying ass
ASSETS/LIABILITIES Tax amount am
Cash (Note 3) ### #NAME?

Accounts receivables
Trade (Note 4) ###
Others (Note 4) ###
Inventories (Note 5) ### #NAME?
Import cost summary ###
Prepaid items ### #NAME?
Deferred income tax (Note 10) ###
Total Current Assets ### #NAME?
###
NON CURRENT ASSETS ###
Investment property (Note 7) ### 11,068,267.64
Investment in subsidiary (Note 8) #NAME?
Deferred charges (Note 7) ###
Property and equipment - net (Note 9) ### #NAME?
### #NAME?
### #NAME?
###
### #REF!
### #REF!
PROPERTY AND EQUIPMENT - (net of accumulated depreciation amounting ### #REF!
to P90,696,579.46 in 2001 and P75,633,264.33 in 2000) (Notes 2 and 4) ### #REF!
### #REF!
OTHER ASSETS ### #REF!
Pre-operating expenses (Note 2) ### #REF!
Refundable deposits ### #REF!
Deferred income tax (Note 5) ### #REF!
Miscellaneous ### #REF!
### #REF!
### #REF!
### #NAME?
### #REF!
LIABILITIES AND STOCKHOLDERS' EQUITY ### #REF!
### #REF!
CURRENT LIABILITIES ### #REF!
Accounts payable and accrued expenses (Note 8) ###
Income tax payable (Note 10) #NAME?
Customers' deposit #NAME?
Advances from officers (Note 10) #NAME?
Total Current Liabilities ### #NAME?
### #REF!
NON CURRENT LIABILITIES ### #REF!
Advances from stockholders (Note 9) ### #REF!
Deferred income tax liabilities ###
Notes payable (Note 9) ###
### #REF!
### #REF!
### #REF!
LONG TERM DEBT ### #REF!
Advances from stockholders (Note 6 and 8) ### #REF!
Notes payable ### #REF!
### #REF!
### #REF!
ADVANCES FROM STOCKHOLDERS (Note 6 and 8) ### #REF!
### #REF!
STOCKHOLDERS' EQUITY ### #REF!
Capital stock (Note 11) ### 3,000,000.00
Additional paid in capital ### 2,000,000.00
Retained earnings (Note 11) ### #NAME?
### #NAME?
### #REF!
capital gain ### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #NAME?
#NAME?
PROPOSED AJE # 5
deferred income tax liability #NAME?
retained earnings ###
2009
Allowance for doubtful accounts P - P

Revaluation increment in property -
Net deferred tax assets (liabilities) P - P

reconciliation
2009
Non taxable capital gains tax -
Movement in temporary difference where no deferred tax were recognized -
Provision for income tax

Current P 3,790 P
Deferred #NAME?
P #NAME? P
summary of tax liability
normal
mcit
payments
prior years overpayment
future
deductible DIFFERENCE
amount temp permanent rate
#NAME? #NAME?
- -
- -
- -
#NAME? #NAME?
- -
#NAME? #NAME?
- -
#NAME? #NAME?
- -
- -
- -
- -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
- -
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
- -
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
- -
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
671,778.36 235,122.43
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#NAME? #NAME?
#NAME?
2008 2007
- P -
- P -
2008 2007
#NAME? P #NAME?
(235,122) -
(415,490)
#NAME? P #NAME?
#NAME? #NAME?
(872) -
#NAME? #NAME?
#NAME?
#NAME?
16,038.68
#NAME?
#NAME?
#NAME?


2007 2006 2005 2004

Net income (losP #NAME? P #NAME? P #NAME? P 264,687 P
Adjustments to reconcile net income to
net cash provided by operating activities
Depreciation #NAME? #NAME? #NAME? 10,450
Changes in operating assets and liabilities
Accounts re #NAME? #NAME? #NAME?
Inventories #NAME? #NAME? #NAME?
Prepaid item #NAME? #NAME? #NAME? 48,785
Deferred in - 2,988 ( 2,988) -
Increase (decrease) in:
Accounts #NAME? #NAME? #NAME? ( 711,270)
Income tax #NAME? #NAME? #NAME? 0
Customers' - - - ( 14,400)
Advances fr #NAME? #NAME? #NAME? ( 368,405)
Loans payab - - - -
Net cash provided b #NAME? #NAME? #NAME? ( 770,153)

Additions to affil - - - -
Deferred income t Err:509 Err:509 Err:509 Err:509
Deferred charges - #NAME? #NAME? 3,058,871
Investment in shar #NAME? #NAME? #NAME? 1,000,000
Addition to prope #NAME? #NAME? - -
Addition to land #NAME? #NAME? #NAME? ( 5,043,276)
Net cash used in inv Err:509 Err:509 Err:509 Err:509

Paid in capital - 741,100
Net cash provided fr - 741,100

CASH EQUIVA #NAME? #NAME? #NAME? Err:509
CASH AND CASH EQUIVALENTS AT

BEGINNING OF #NAME? #NAME? Err:509 Err:509
CASH AND CAS

P #NAME? P #NAME? P #NAME? P Err:509 P
5
#NAME? #NAME? #NAME? Err:509
5
2003 2002 2001 2000 1999
( 27,999.91) P 14,723.96 P 34,917.46 P 10,722.86 P ( 25,570.05)
10,449.96 10,449.96 5,812.50 - 46,479.08
( 10,284.89) #NAME? 201,260.12 ( 22,635.14) ( 10,979.08)

- #NAME? 9,594.06 ( 2,083.14) ( 7,510.92)
69,162.07 236,550.82 ( 209,176.53) ( 2,193.81) 101,408.97

0.00 ( 0.00)
- ( 45,600.00) 60,000.00 -
5,000.00 395,275.36 ( 94,072.15) 140,380.50 621,821.50
- - - - -
46,327.23 #NAME? 8,335.45 124,191.27 725,649.50
- - - - -
Err:509 Err:509
- 54,000.00 15,500.00 - -
804,946.90 ( 375,542.11) 40,000.00 223,829.01 627,567.50
Err:509 Err:509 55,500.00 223,829.01 627,567.50
Err:509 #NAME? ( 47,164.55) ( 99,637.74) 98,082.00
#NAME? 69,642.07 116,806.62 216,444.36 118,362.36
Err:509 P #NAME? P 69,642.07 P 116,806.62 P 216,444.36
5
Err:509 #NAME? 0.00 0.00 ( 0.00)
5
1998 1997 1996 1995
P 17,801.94 P ( 198,295.84) P 66,091.16 P 18,696.08
11,339.89 8,773.20 8,773.20 8,773.20
( 4,629.30) ( 17,859.21) ( 15,012.46) ( 14,232.88)
145,174.91 137,354.87 379,165.39 63,391.20
- - ( 800,000.00) 3,115,374.19
- ( 6,850,000.00) 5,950,000.00 400,000.00
169,687.44 ( 6,920,026.98) 5,589,017.29 3,592,001.79
- ( 11,200.00) 11,200.00 ( 480,765.39)
22,000.00 -
100,000.00 ( 6,362,821.82) 5,095,589.80 4,045,481.90
122,000.00 ( 6,374,021.82) 5,106,789.80 3,564,716.51
47,687.44 ( 546,005.16) 482,227.49 27,285.28
70,674.92 616,680.08 134,452.59 107,167.31
P 118,362.36 70,674.92 P 616,680.08 P 134,452.59
5
( 0.00) ( 0.00) ( 0.00) ( 0.00)
5
fut future
carrying ass deductible DIFFERENCE
ASSETS/LIABILITIES Tax amount am amount temp
Cash (Note 3) ### #NAME?

Accounts receivables
Trade (Note 4) ###
Others (Note 4) ###
Inventories (Note 5) ### #NAME?
Import cost summary ###
Prepaid items ### #NAME?
Deferred income tax (Note 10) ###
Total Current Assets ### #NAME?
###
NON CURRENT ASSETS ###
Investment property (Note 7) ### 11,068,267.64
Investment in subsidiary (Note 8) #NAME?
Deferred charges (Note 7) ###
Property and equipment - net (Note 9) ### #NAME?
### #NAME?
### #NAME?
###
### #REF!
### #REF!
PROPERTY AND EQUIPMENT - (net of accumul ### #REF!
to P90,696,579.46 in 2001 and P75,633,264.3
### #REF!
### #REF!
OTHER ASSETS ### #REF!
Pre-operating expenses (Note 2) ### #REF!
Refundable deposits ### #REF!
Deferred income tax (Note 5) ### #REF!
Miscellaneous ### #REF!
### #REF!
### #REF!
### #NAME?
### #REF!
LIABILITIES AND STOCKHOLDERS' E ### #REF!
### #REF!
CURRENT LIABILITIES ### #REF!
Accounts payable and accrued expenses (Not###
Income tax payable (Note 10) #NAME?
Customers' deposit #NAME?
Advances from officers (Note 10) #NAME?
Total Current Liabilities ### #NAME?
### #REF!
NON CURRENT LIABILITIES ### #REF!
Advances from stockholders (Note 9) ### #REF!
Deferred income tax liabilities ###
Notes payable (Note 9) ###
### #REF!
### #REF!
### #REF!
LONG TERM DEBT ### #REF!
Advances from stockholders (Note 6 and 8) ### #REF!
Notes payable ### #REF!
### #REF!
### #REF!
ADVANCES FROM STOCKHOLDERS (Note ###
6 #REF!
### #REF!
STOCKHOLDERS' EQUITY ### #REF!
Capital stock (Note 11) ### 3,000,000.00
Additional paid in capital ### 2,000,000.00
Retained earnings (Note 11) ### #NAME?
### #NAME?
### #REF!
capital gain ### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #REF!
### #NAME?
#NAME?
PROPOSED AJE # 5
deferred income tax liability #NAME?
retained earnings ###
2008 2007
Allowance for doubtful accounts P - P -

Revaluation increment in property -
Net deferred tax assets (liabilities) P - P -

reconciliation
2008 2007
Provision (benefit from) for income tax at statuP #NAME? P #NAME?
Non taxable capital gains tax (235,122) -
Movement in temporary difference where no defe (415,490)
Provision for income tax

Deferred (872) -
#NAME? #NAME?
summary of tax liability
normal #NAME?
mcit #NAME?
payments 16,038.68
prior years overpayment #NAME?
#NAME?
#NAME?
permanent rate
#NAME? #NAME?
- -
- -
- -
#NAME? #NAME?
- -
#NAME? #NAME?
- -
#NAME? #NAME?
- -
- -
- -
- -
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
- -
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
#NAME? #NAME?
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
- -
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
- -
- -
#NAME? #NAME?
#NAME? #NAME?
#REF! #REF!
671,778.36 235,122.43
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#REF! #REF!
#NAME? #NAME?
#NAME?

Percentage taxes P
Specific taxes
Others:
Others
LOCAL TAXES
Residence taxes
Basic
Additional
Real estate taxes
Business taxes
Occupation taxes
OTHERS
Others

Capital gains on sale of investment for which capital gains tax were already paid P 671,778.36
671,778.36
P

Higher of P
Normal computation - -
P #NAME?
FOR DISCLOSURE
No of Years
Computers, office and motor equipment 2-6 years
Inventory
2008 2007
At cost
Merchandise P #NAME? P #NAME?
P #NAME? P #NAME?
At net realizable values #NAME? #NAME?
2008 2007
Trade payables
Accruals
Withholding and others
Employement benefits
2008 2007
Direct labor P P
Salaries and wages
Administration related
Social security, philhealth and pagibig contributions
Cost related
Other employees benefit
Cost related
P - P -
for disclosure property
January 1, Disposal/
2008 Addition retirement
At Cost:
Cost
Transportation equipment P 174,568 P P P
Bulding 250,000
Other equipment 173,453
598,021 - -
Accumulated depreciation
Transportation equipment 174,568
Bulding 25,000 12,500
Other equipment 115,378 7,000
314,946 19,500 -
Net Book Value P 283,075 P (19,500) P - P
2,007 Addition retirement
At Cost:
Cost
Bulding 250,000
563,021 35,000 -
Bulding 12,500 12,500
Other equipment 114,511 867
301,579 13,367 -
Net Book Value P 261,442 P 21,633 P - P
2008 2007
Debt ratio
Debt to equity ratio
2008 2007
Carrying Value Fair Value Carrying Value
Financial Assets
Cash P #NAME? P #NAME? P #NAME? P
Receivables
Trade - #NAME?
Others -
Available for sale investment #NAME? #NAME?
Refundable deposits -
#NAME? #NAME?### #NAME?###
Accounts payable #NAME? #NAME?
Income tax #NAME? #NAME?
Customers' deposit #NAME? #NAME?
Due to related parties #NAME? #NAME? #NAME?
P #NAME? P #NAME? P #NAME? P
dcf = cf / (1+r1)
rate 6.66% 5.70%
Accounts receivable net of allowance

2008 2007
Trade receivables #NAME?
Other receivables
- #NAME?
less allowance for doubtful accounts
net - #NAME?
Movement of advances from head office

2008 2007
Beginning of year
Funds provided in respect to operation
Funds remitted in respect to operation
End of year balance
Investment property
At Cost:
Cost
Land 6,717,615
Bulding P 4,579,635 P P P
11,297,250 - -
Land -
Bulding - 228,982
- 228,982 -
Net Book Value P 11,297,250 P (228,982) P - P
At Cost:
Cost
Land 6,717,615
11,297,250 - -
Land
Bulding
- - -
Net Book Value P 11,297,250 P - P - P
value Land Building

Floor area - sq. m

TCT # 12697

Corporation
TCT # 13495 - P3,300,000

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88
sale of investment book value
afa to victor 5,500.00

at par 550,000.00 550,000.00
consideration 1,000,000.00
computatio of capital gains tax

sp 1,000,000.00
cost 514,110.82
capital gain 485,889.18
fists 100000 at 5% 5,000.00
iover 100000 at 10% 38,588.92
43,588.92
jamie eloise 5,500.00

at par 550,000.00 550,000.00
consideration 700,000.00

sp 700,000.00
cost 514,110.82
fists 100000 at 5% 5,000.00
iover 100000 at 10% 8,588.92
13,588.92
1,100,000.00
through advances from stockholders

for jamie 700,000.00
for victor 1,000,000.00
offset of creidt against apic 2,000,000.00
3,700,000.00
2007 balance 9,846,433.00
2008 balance 6,146,433.00
to adjust 1,657,439.30
Reclassification December 31
Transfer 2008
P P 174,568 174,568.20
250,000 #NAME?
173,453 173,453.45
- 598,021 #NAME?
174,568 174,568.20
37,500 37,500.00
122,378 114,510.75
- 334,446 326,579
- P 263,575 #NAME? #NAME?
Transfer 2,007
P P 174,568 174,568.20 -
250,000 #NAME? #NAME?
173,453 173,453.45 (0.45)
- 598,021 #NAME?
174,568
25,000
115,378
- 314,946 -
- P 283,075 #NAME?
2007
Fair Value
#NAME?
#NAME?
-
#NAME?
-
#NAME?
-
-
#NAME?
#NAME?
Transfer 2008
6,717,615
P P 4,579,635 -
- 11,297,250 -
-
228,982
- 228,982 -
- P 11,068,268 -
Transfer 2,007
6,717,615
P P 4,579,635 -
- 11,297,250 -
-
-
- - -
- P 11,297,250 -
land area
2,117.48
54,600.00
143,803.00
221.00
200,741.48 20.07
FOR DISCLOSURE
No of Years
Computers, office and motor equipment 2-6 years
Inventory
2008 2007
At cost
Merchandise P 149,287 P 165,919
P 149,287 P 165,919
At net realizable values 149,287 165,919
2008 2007
Trade payables
Accruals
Withholding and others
Employement benefits
2008 2007
Direct labor P P
Salaries and wages
Social security, philhealth and pagibig contributions
Cost related
Other employees benefit
Cost related
P - P -
for disclosure property
At Cost:
Cost
Bulding 250,000
Other equipment 173,453
598,021 - -
Bulding 25,000 12,500
314,946 19,500 -
Net Book Value P 283,075 P (19,500) P - P
At Cost:
Cost
Bulding 250,000
563,021 35,000 -
Bulding 12,500 12,500
Other equipment 114,511 867
301,579 13,367 -
Net Book Value P 261,442 P 21,633 P - P
2008 2007
Debt ratio
Debt to equity ratio
2008 2007
Carrying Value Fair Value Carrying Value
Financial Assets
Cash P 677,842 P 677,842 P 111,816 P
Receivables
Trade - 234,816
Others -
Available for sale investment - 1,100,000
Refundable deposits -
677,842 677,842### 1,446,632###
Accounts payable (0) (0)
Income tax 0 0
Due to related parties 6,146,433 6,146,433 9,846,433
P 6,146,433 P 6,146,433 P 9,846,433 P
dcf = cf / (1+r1)
rate 6.66% 5.70%
Accounts receivable net of allowance

2008 2007
Trade receivables 234,816
Other receivables
- 234,816
less allowance for doubtful accounts
net - 234,816
Movement of advances from head office

2008 2007
Beginning of year
Funds provided in respect to operation
Funds remitted in respect to operation
End of year balance
Investment property
At Cost:
Cost
Land 6,717,615
11,297,250 - -
Land -
Bulding - 228,982
- 228,982 -
Net Book Value P 11,297,250 P (228,982) P - P
January 1, Disposal/ December 31

At Cost:
Cost
Land 6,717,615
11,297,250 - -
Land
Bulding
- - -
Net Book Value P 11,297,250 P - P - P
value Land Building

Floor area - sq. m

TCT # 12697

Corporation
TCT # 13495 - P3,300,000

Lot area - 221 sqm
- 609 sqm. (tax dec) 2,500,000.00 2,500,000.00
Building cost 1,445,481.90 1,445,481.90
Improvements 3,058,871.00 1,529,435.50 1,529,435.50
11,297,249.75 6,717,614.87 4,579,634.88
sale of investment book value
afa to victor 5,500.00

at par 550,000.00 550,000.00
consideration 1,000,000.00

sp 1,000,000.00
cost 514,110.82
fists 100000 at 5% 5,000.00
iover 100000 at 10% 38,588.92
43,588.92
jamie eloise 5,500.00

at par 550,000.00 550,000.00
consideration 700,000.00

sp 700,000.00
cost 514,110.82
fists 100000 at 5% 5,000.00
iover 100000 at 10% 8,588.92
13,588.92
1,100,000.00
through advances from stockholders

for jamie 700,000.00
for victor 1,000,000.00
offset of creidt against apic 2,000,000.00
3,700,000.00
2007 balance 9,846,433.00
2008 balance 6,146,433.00
to adjust 1,657,439.30
Transfer 2008
P P 174,568 174,568.20
250,000 250,000.00
173,453 173,453.45
- 598,021 598,022
174,568 174,568.20
37,500 37,500.00
122,378 114,510.75
- 334,446 326,579
- P 263,575 271,443 (1.07)
Transfer 2,007
P P 174,568 174,568.20 -
250,000 250,000.00 -
173,453 173,453.45 (0.45)
- 598,021 598,022
174,568
25,000
115,378
- 314,946 -
- P 283,075 598,022
2007
Fair Value
111,816
234,816
-
1,100,000
-
1,446,632
-
-
9,846,433
9,846,433
December 31
2008
6,717,615
4,579,635 -
11,297,250 -
-
228,982
228,982 -
11,068,268 -
December 31
2,007
6,717,615
4,579,635 -
11,297,250 -
-
-
- -
11,297,250 -
land area
2,117.48
54,600.00
143,803.00
221.00
200,741.48 20.07
PROPOSED AJE # 1
sales of goods 60,885.00
cash 60,885.00
to take up sales of goods
PROPOSED AJE # 2
inventory 16,631.80
cost of sales 16,631.80
to take up defective books
PROPOSED AJE # 3
income tax 16,038.68
a/p 16,038.68
to take up 2307 for 2008
PROPOSED AJE # 4
cash 42,935.61
advances 42,935.61
to set up bank balances
as recorded 127,346.00
per bank recores 170,281.61
42,935.61
PROPOSED AJE # 5
ar 833,249.00
ap 75,469.00
advances 908,718.00
PROPOSED AJE # 6
loss on sale 400,000.00
advances 700,000.00
investment in subsideary 1,100,000.00
cost 1,100,000.00
sp 700,000.00
400,000.00
PROPOSED AJE # 7
provision for #NAME?
income tax #NAME?
basis exclusing capital loss #NAME?
35% #NAME?
PROPOSED AJE # 8
broker's fee 105,000.00
to reclasify
PROPOSED AJE # 9
depreciation 19,500.00
accumulated depreciation 19,500.00
PROPOSED AJE # 10
investment in property
inestment property land
invesmtne property building
PROPOSED AJE # 11
acumulated - invetment prop 228,981.74
PROPOSED AJE # 12
sale of inves 700,000.00 700000
loss on sale 400,000.00 400000
advances 700,000.00 700000
advances 400,000.00 400000
PROPOSED AJE # 13
gain on sale 671,778.36
brokers 105,000.00
advances 776,778.36
PROPOSED AJE #13

advances 1,657,439.30
apic 2,000,000.00
cash 342,560.70
PROPOSED AJE # 14
prepaid 12,172.04
cash 871.96
PROPOSED AJE # 15
income tax 871.85
proviison- cu 871.85
current liability
PROPOSED AJE # 16
prepaid 871.85
income tax 871.85
PROPOSED AJE # 17
prepaid 871.85
cash 871.85
Jan - -
Feb - -
Mar 102,000.00 102,000.00 12,240.00
Apr - -
May - -
Jun 162,885.00 162,885.00 19,546.20
Jul - -
Aug - -
Sep 102,900.00 102,900.00 12,348.00
Oct - -
Nov - -
Dec 104,700.00 104,700.00 12,564.00
472,485.00 - 472,485.00 56,698.20 - - - - - -

Q1 102,000.00 - 102,000.00 12,240.00 - - - - - -

Q2 162,885.00 - 162,885.00 19,546.20 - - - - - -
Q3 102,900.00 - 102,900.00 12,348.00 - - - - - -
Q4 104,700.00 - 104,700.00 12,564.00 - - - - - -
472,485.00 - 472,485.00 56,698.20 - - - - - -

1702q
q1 -
q2 -
q3 2,681.69
2,681.69
1604e
others Total purchases Input VAT Paid Running VAT 70% cap final running vat
- - -
- - 8,160.00 8,160.00
- - 4,080.00 -
- - -
- - 8,160.00 8,160.00
- - 11,386.20 -
- - -
- - 8,160.00 8,160.00
- - 4,188.00 -
- - -
- - 8,376.00 8,376.00
- - 4,188.00 -
- - - 56,698.20

-
- - 12,240.00 - - -
- - 19,546.20 - - -
- - 12,348.00 - - -
- - 12,564.00 - - -
- - 56,698.20
2007 2006
Current P #NAME? P #NAME?

Deferred - -
P #NAME? P #NAME?
2007 2006
Income before P #NAME? P #NAME?
Expected tax aP #NAME? P #NAME?

Expired MCIt
Income subject to final tax
Changes in unrecognized deferred income tax asset
P #NAME? P #NAME?
2007 2006
Allowance for P P
MCIT
P - P -
Restituto R. Adoremus cpa's

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
Capital Stock Retained Earnings

(Note 11) (Note 11) Total
Balance at December 31, 2004 P 2,258,900 P #NAME? #NAME?
Net loss for the year - #NAME? #NAME?
Balance at December 31, 2005 2,258,900 #NAME? P #NAME?

Payment on subscription 741,200 - 741,200
Balance at December 31, 2006 P 3,000,100 P #NAME? P #NAME?
100
- - - - - - - - 0.00 ( 0.00) ( 0.00)

Restituto R. Adoremus cpa's

FOR THE YEARS ENDED DECEMBER 31, 2005 AND 2004
Capital Stock Retained Earnings

(Note 11) (Note 11) Total
Balance at December 31, 2004 2,258,900 #NAME? #NAME?

Payment on subscription 741,200 741,200
100
- - - - - - - - 0.00 ( 0.00) ( 0.00)

FINAL ADJUSTMENTS
PROPOSED AJE # 1
cash 56,692.93
advances 56,692.93
to record cash
mbtc 13,663.17
rbs 14,802.58
pbcom 39,055.83
metro 44,294.55
111,816.13
per audit 111,816.13

per books 168,509.06
(56,692.93)
PROPOSED AJE # 2
a/r 160,013.75
advances 160,013.75
to take up receivables
per audit 234,816.14

per books 74,802.39
160,013.75
PROPOSED AJE # 3
sales 36,950.00
rental income 66,395.00
advances 103,345.00
to take up adjusts
per audit per books adj
rental 408,000.00 341,605.00 66,395.00
sale of boo 36,950.00 - 36,950.00
PROPOSED AJE # 4
Cost #NAME? 22,706.75
inventory #NAME?
advances 22,706.75
to take up cost of sales
PROPOSED AJE # 5
Prepaid items 7,229.14
advances 7,229.14
to take up prepaid itmes
1702- 2006 56,770.56

2307 - 200 15,182.33
71,952.89
PROPOSED AJE # 6
depreciati 10,449.96
accumulated deprectiaiton 10,449.96
to take up depreciation
PROPOSED AJE # 7
a/p 19,740.00
advances 19,740.00
to take up ap
PROPOSED AJE # 8
professiona 5,900.00
advances 5,900.00
to take up profewsional fee
PROPOSED AJE # 9
Rent, light 2,207.51
professiona 4,000.00
a/p 12,053.75 101,502.12
representa 21,250.00
telephone 552.86
transport 1,089.00
supplies 300.00
gas and oil 500.00
repairs 21,250.00
janitorial 300.00
equipment 35,000.00
miscellane 2,999.00
to take up june to july expenses
PROPOSED AJE # 10
advances f 125,000.00
to adjust representation within limits
PROPOSED AJE # 11
Depreciati 2,916.67
to take up deprecition for best tank
PROPOSED AJE # 12
land and estimated 11,297,249.38
investment 11,297,249.38
PROPOSED AJE # 13
investmtnet 100,000.00
advacnes 100,000.00
to take up reclassification
PROPOSED AJE # 14
provision #NAME?
income tax #NAME? #NAME?
prepaied #NAME?
PROPOSED AJE # 15
prepaid 9,103.02
advances 9,103.02
2007 2006 2005
Transportation equipmentP 174,568 P 174,568 P 174,568

Bulding #NAME? #NAME?
Other equipment 173,453 138,453 138,453
#NAME? #NAME? 313,022
Less accumulated depreciation #NAME? #NAME? #NAME?
Schedule of depreciation
Transportation equipment
Other equipment 13,367 10,450 10,450
13,367 10,450 10,450
additioanl equiptment - 35,000

depreciation from augu 2916.666667
2007 data
COMPUTATIO N OF COST
Beginning #NAME?
purchases
available #NAME?
ending 165919.1
cost #NAME?
schedule of reported sales

q1 102,000.00
q2 129,650.00
q3 102,000.00
q4 111,300.00
444,950.00
1702qq payment
q1 0
q2 0
q3 0
2307-2007
rex bookstore 4/1/2007 6/30/2007 18232.5 182.33

rural bank of sual 1/1/2007 12/31/2007 300000 15,000.00
15,182.33
2007 inventory 165919.1

rental sales Sales Purchase
Vatable Vatable zero rated total sales Output VAT Capital
Jan - -
Feb - -
Mar 102,000.00 102,000.00 12,240.00
Apr - -
May - -
Jun 102,000.00 27,650.00 129,650.00 15,558.00
Jul - -
Aug - -
Sep 102,000.00 102,000.00 12,240.00
Oct - -
Nov - -
Dec 102,000.00 9,300.00 111,300.00 13,356.00
408,000.00 36,950.00 - 444,950.00 53,394.00 -
Sales Sales Purchase

Vatable zero rated total sales Output VAT Capital
Q1 102,000.00 - - 102,000.00 12,240.00 -

Q2 102,000.00 27,650.00 - 129,650.00 15,558.00 -
Q3 102,000.00 - - 102,000.00 12,240.00 -
Q4 102,000.00 9,300.00 - 111,300.00 13,356.00 -
408,000.00 - 444,950.00 53,394.00 -
2005 data
rental
Sales merchandsie total Output VAT Importation Purchases
Jan 33,000.00 33,000.00 3,300.00

Feb 31,500.00 6,200.00 37,700.00 4,524.00
Mar 26,500.00 15,855.00 42,355.00 5,082.60
Apr 26,500.00 45,900.00 72,400.00 8,688.00
May 26,500.00 45,325.00 71,825.00 8,619.00
Jun 26,500.00 86,740.00 113,240.00 13,588.80
Jul 26,500.00 15,400.00 41,900.00 5,028.00
Aug 26,500.00 4,100.00 30,600.00 3,672.00
Sep 34,000.00 34,000.00 4,080.00
Oct 34,000.00 16,350.00 50,350.00 6,042.00
Nov 34,000.00 13,900.00 47,900.00 5,748.00
Dec 32,500.00 - 32,500.00 3,900.00
358,000.00 249,770.00 607,770.00 72,272.40 - -
quarterly
q1 91,000.00 12,906.60 - -
q2 79,500.00 30,895.80 - -
q3 87,000.00 12,780.00 - -
q4 100,500.00 15,690.00 - -
358,000.00 72,272.40 - -
1702q sales deduction taxable credits

q1 113055 200,694.16 (87,639.16) 94,327.88
q2 257465 199,154.35 (29,328.51) 94,327.88
q3 106500 188,461.26 (111,289.77) 94,327.88
alpha 13th sss taxable total

terminated 733.20 15266.8 16,000.00
1604e
rra 39000 3,900.00
inventory 200231.25
2004 2003 2002
P 174,568 P 174,568.20 P 174,568.20 P
138,453 138,453.45 138,453.45

313,022 313,021.65 313,021.65
10,450 10,449.96 10,449.96
10,450 10,449.96 10,449.96

Importation Purchase not
Non Capital Capital Non Capital Services qualified for V others Total purchases
-
-
-
-
-
-
-
-
-
-
-
-
- - - - - - -
Importation
Non Capital Capital Non Capital Services Total purchases
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
non purchase should have
expense w/ vat Input VAT Running VAT VAT Paid paid sales rent
- - 3,300.00 33,000.00
- - 4,524.00 31,500.00
- - 5,082.60 26,500.00
- - 8,688.00 26,500.00
- - 8,619.00 26,500.00
- - 13,588.80 26,500.00
- - 5,028.00 26,500.00
- - 3,672.00 26,500.00
- - 4,080.00 34,000.00
- - 6,042.00
- - 5,748.00
- - 3,900.00
- - 72,272.40 - 257,500.00
- - - 12,906.60
- - - 30,895.80
- - - 12,780.00
- - - 15,690.00
- - 72,272.40
2001 2000 1999
174,568.20 P 174,568.20 P 174,568.20 P
84,453.45 68,953.45 68,953.45

259,021.65 243,521.65 243,521.65
#NAME? P #NAME? P #NAME? P
34,913.64 34,913.64
5,812.50 13,790.69 13,790.69
5,812.50 48,704.33 48,704.33
46,479.08 46,479.08
Input VAT Paid Running VAT 70% cap final running vat
- - -
- - -
- 12,240.00 - -
- - -
- - -
- 15,558.00 -
- -
- -
- 12,240.00 -
- -
- -
- 13,356.00 -
- 53,394.00

-
- 12,240.00 - - -
- 15,558.00 - - -
- 12,240.00 - - -
- 13,356.00 - - -
- 53,394.00
33,000.00
31,500.00
26,500.00
26,500.00
26,500.00
26,500.00
26,500.00
26,500.00
34,000.00
-
-
-
257,500.00
1998 1997 1996 1995 1994
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 5 years

20
68,953.45 46,953.45 46,953.45 46,953.45 46,953.45 5.00
243,521.65 221,521.65 221,521.65 221,521.65 221,521.65
#NAME? #NAME? 176,924.48 168,151.28 159,378.08
#NAME? P #NAME? P 44,597.17 P 53,370.37 P 62,143.57
other equipment
1st part
2nd part
final running vat
2007 2006
depreciati accu dep net book 2008 accu dep net book 2008
34913.64 174568.2 - 174568.2 -

7000 115,377.45 58,076 23943 23943
#NAME? #NAME?
#NAME? #NAME?
other equipment
138,453 138,453 -
35,000
173,453
PROPOSED AJE # 1
A/R 93,498.50 BANK BALANCES
cash 351,410.14 metro saving 135,268.66
inventories 91,090.50 metro curren 42,500.00
salaries 2,000.00 pbcom 39,324.94
capital stock 100.00 rural bank 33,596.18
a/p 563,441.14
prepaid 25,542.00 250,689.78
to reflect actual balances
PROPOSED AJE # 2
A/P 22,268.09
ADVANCES 22,268.09
TO Correct ap
PROPOSED AJE # 3
sales 54,034.50
income from rent 74,500.00
advances 20,465.50
to correct sales
PROPOSED AJE #4
depreciaiton 10,449.96
accumulated depreciaiton 10,449.96
to set up depreciation
PROPOSED AJE # 5
miscellaelus 25,009.25
to tae up cost of sales
PROPOSED AJE # 6
advances 110,500.00
to reclassify
PROPOSED AJE # 7
provision fo #NAME?
deferred income tax asset 2,988.49
deferred income tax asset Err:509
prepaid items #NAME?
to take up income tax payable
statutory #NAME?
mcit #NAME?
2%
#NAME?
PROPOSED AJE # 8
prepaid 15,879.96
advances 15,879.96
to reclassify accounts
PROPOSED AJE # 9
income tax 6,208.06
advances 6,208.06
PROPOSED AJE # 10
prepaid 2,988.48
advances 2,988.48
2006 2005 2004
Transportation equipmentP 174,568 P 174,568 P 174,568

Bulding #NAME?
Other equipment 138,453 138,453 138,453
#NAME? 313,022 313,022
Other equipment 10,450 10,450 10,450
10,450 10,450 10,450
2005 data
rental
Jan 33,000.00 33,000.00 3,300.00

Feb 31,500.00 6,200.00 37,700.00 4,524.00
Mar 26,500.00 15,855.00 42,355.00 5,082.60
Apr 26,500.00 45,900.00 72,400.00 8,688.00
May 26,500.00 45,325.00 71,825.00 8,619.00
Jun 26,500.00 86,740.00 113,240.00 13,588.80
Jul 26,500.00 15,400.00 41,900.00 5,028.00
Aug 26,500.00 4,100.00 30,600.00 3,672.00
Sep 34,000.00 34,000.00 4,080.00
Oct 34,000.00 16,350.00 50,350.00 6,042.00
Nov 34,000.00 13,900.00 47,900.00 5,748.00
Dec 32,500.00 - 32,500.00 3,900.00
358,000.00 249,770.00 607,770.00 72,272.40 - -
quarterly
q1 91,000.00 12,906.60 - -
q2 79,500.00 30,895.80 - -
q3 87,000.00 12,780.00 - -
q4 100,500.00 15,690.00 - -
358,000.00 72,272.40 - -
1702q sales deduction taxable credits
q1 113055 200,694.16 (87,639.16) 94,327.88
q2 257465 199,154.35 (29,328.51) 94,327.88
q3 106500 188,461.26 (111,289.77) 94,327.88
alpha 13th sss taxable total

terminated 733.20 15266.8 16,000.00
1604e
rra 39000 3,900.00
inventory 200231.25
2003 2002 2001
P 174,568.20 P 174,568.20 P 174,568.20 P
138,453.45 138,453.45 84,453.45

313,021.65 313,021.65 259,021.65
10,449.96 10,449.96 5,812.50
10,449.96 10,449.96 5,812.50

- - 3,300.00 33,000.00
- - 4,524.00 31,500.00
- - 5,082.60 26,500.00
- - 8,688.00 26,500.00
- - 8,619.00 26,500.00
- - 13,588.80 26,500.00
- - 5,028.00 26,500.00
- - 3,672.00 26,500.00
- - 4,080.00 34,000.00
- - 6,042.00
- - 5,748.00
- - 3,900.00
- - 72,272.40 - 257,500.00
- - - 12,906.60
- - - 30,895.80
- - - 12,780.00
- - - 15,690.00
- - 72,272.40
2000 1999 1998 1997 1996
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P
68,953.45 68,953.45 68,953.45 46,953.45 46,953.45

243,521.65 243,521.65 243,521.65 221,521.65 221,521.65
#NAME? #NAME? #NAME? #NAME? 176,924.48
#NAME? P #NAME? P #NAME? P #NAME? P 44,597.17 P
34,913.64 34,913.64
13,790.69 13,790.69
48,704.33 48,704.33
46,479.08 46,479.08
33,000.00
31,500.00
26,500.00
26,500.00
26,500.00
26,500.00
26,500.00
26,500.00
34,000.00
-
-
-
257,500.00
1995 1994
174,568.20 P 174,568.20
46,953.45 46,953.45
221,521.65 221,521.65
168,151.28 159,378.08
53,370.37 P 62,143.57

Percentage taxes P
Specific taxes
Others:
Others
LOCAL TAXES
Residence taxes
Basic
Additional
Real estate taxes
Business taxes
Occupation taxes
OTHERS
Others

NOLCO - 2005 P 9,339.03
9,339.03
P

Higher of P
Normal computation - 32% of P144,406.64 #NAME?
P #NAME?
q1 apr may jun jul aug
Rent Income (26,500.00) (26,500.00) (26,500.00) (26,500.00) (26,500.00)

Output VAT (3,180.00) (3,180.00) (3,180.00) (3,180.00) (3,180.00)
Prepaid tax #NAME? #NAME? 1,325.00 1,519.94 1,505.63 1,571.58 1,441.88
A/R #NAME? #NAME? 19,015.00 17,807.50 (1,223.50) (31,161.00) (74,910.50)
Advances fro officers #NAME? #NAME?
cash #NAME? #NAME? 48,355.00 48,878.81 103,126.87 72,359.42 106,633.62
Misc #NAME? #NAME?
Rent, light and water #NAME? #NAME?
Allowance #NAME? #NAME?
Philhealth Contribution #NAME? #NAME?
PHIC payable #NAME? #NAME?
SSS contribution #NAME? #NAME?
SSS Payable #NAME? #NAME?
wh compensation #NAME? #NAME?
Professional Fee #NAME? #NAME?
expanded wt payable #NAME? #NAME?
Salaries #NAME? #NAME?
Representation #NAME? #NAME?
Telephone #NAME? #NAME?
Transportation #NAME? #NAME?
Supplies #NAME? #NAME?
Gas and oil #NAME? #NAME?
Repairs and maintenanc #NAME? #NAME?
Output VAT #NAME? #NAME?
Advances #NAME? #NAME?
Dues and Subscription #NAME? #NAME?
final withholding ta #NAME? #NAME?
direct cost #NAME? #NAME?
royalty #NAME? #NAME?
insurance #NAME? #NAME?
Inventory #NAME? #NAME?
Taxes and Licences #NAME? #NAME?
Postage #NAME? #NAME?
Sales #NAME? #NAME? (45,900.00) (45,325.00) (86,740.00) (15,400.00) (4,100.00)
Sales Discount #NAME? #NAME? 6,885.00 6,798.75 13,011.00 2,310.00 615.00
subscription receivable
time deposit
building
#NAME? #NAME? - - - - -
#NAME?
spe oct nov dec total disubrsments
(49,000.00) (34,000.00) (34,000.00) (34,000.00) (283,500.00) (283,500.00)

(3,180.00) (3,180.00) (3,180.00) (3,180.00) (28,620.00) #NAME? #NAME?
1,325.00 1,325.00 1,414.46 1,325.00 #NAME? #NAME?
7,352.50 2,876.25 (14,365.00) #NAME? #NAME?
792,055.00 42,400.00 44,704.29 50,220.00 #NAME? #NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
(16,350.00) (13,900.00) #NAME? #NAME?
2,452.50 2,085.00 #NAME? #NAME?
(741,200.00) (741,200.00) (741,200.00)
#NAME? #NAME?
#NAME? #NAME?
- - - - #NAME? #NAME? #NAME?

2005 2004 2003
Transportation equipmentP 174,568 P 174,568 P 174,568.20

Other equipment 138,453 138,453 138,453.45
313,022 313,022 313,021.65
Other equipment 10,450 10,450 10,449.96
10,450 10,450 10,449.96
2005 data
rental
Jan 36,000.00 36,000.00 3,600.00

Feb 34,000.00 34,000.00 3,400.00
Mar 32,500.00 32,500.00 3,250.00
Apr 33,575.00 33,575.00 3,357.50
May 34,425.00 34,425.00 3,442.50
Jun 41,425.00 41,425.00 4,142.50
Jul 41,575.00 41,575.00 4,157.50
Aug 31,500.00 35,040.00 66,540.00 6,654.00
Sep 31,500.00 45,895.00 77,395.00 7,739.50
Oct 31,500.00 92,070.00 123,570.00 12,357.00
Nov 31,500.00 73,935.00 105,435.00 10,543.50
Dec 30,000.00 - 30,000.00 3,000.00
409,500.00 246,940.00 656,440.00 65,644.00 - -
quarterly
q1 102,500.00 10,250.00 - -
q2 109,425.00 10,942.50 - -
q3 104,575.00 18,551.00 - -
q4 93,000.00 25,900.50 - -
409,500.00 65,644.00 - -
analysis of compensation
13th month sss taxalbe
no previous 11,750.00 4,016.90 135,483.10 151,250.00
royalty tax
final withholding 38,438.50 3,843.85
expanded
professional fee 36,000.00 3,600.00
prime contractor 20,000.00 400.00
2307 2005 INCOME TAX

Q1 Q2 Q3 Q4 TOTAL Q1
AFAPI 2,000.00 2,000.00 100.00
National Bookstore 11,343.00 11,343.00 -
Uniersity of Asia and the Pacific 4,135.25 4,135.25 -
Rex bookstore 4,760.00 4,760.00 -
United coco planters l 10,000.00 15,000.00 10,000.00 35,000.00 500.00
Rural bank of sual 67,500.00 70,000.00 75,000.00 75,000.00 287,500.00 3,375.00
79,500.00 85,000.00 85,000.00 95,238.25 344,738.25 3,975.00
rent 324,500.00
sales 20,238.25
344,738.25
-
1-3 q
q4
-
-
Analysis of land and improvement for sales

La vista subdivision 2,005,896.85
improvement 90,341.50
golden meadow antipolo
bt lot 27 and 28 360,000.00
improvement 1,747,706.37
b5 lot 35 and 36 872,000.00
tct 12697 637,000.00
tct 13495 1,650,000.00
tct 1443 palamis 2,500,000.00
improvement
old 1,582,660.08
new 565,480.00
Sual Reallocate
9450 352.00 86,266.45 97,517.28
9451 352.00 86,266.45 97,517.28
9326 260.00 63,719.53 72,029.81
9314 252.00 61,758.93 69,813.51
9312 251.00 61,513.86 69,536.47
9311 256.00 62,739.23 70921.657574
9310 340.00 83,325.55 28254
2,063.00 477336
505,590.00 1723
14846 41,010.00 100,000.00
total cost 12,616,674.80

cost of sold lot 28,254.00
12,588,420.80
repairs and improvement in 2000 223,829.00

2001 12,852,249.80
transaction 2002
Cost of lots sold 1,219,199.48
11,633,050.32
Acquisition 843,657.37 documentation?
Ending 2002 12,476,707.69
ending 2003/2004 13,281,654.59
1604cf
re sss
13th month sss income 3000 1800
emeployee 15708.35 141582.7 5000 2000.4
4000 300
3708.35 816.9
157291.05
-
2002 2001 2000
P 174,568.20 P 174,568.20 P 174,568.20 P

138,453.45 84,453.45 68,953.45
313,021.65 259,021.65 243,521.65
34,913.64
10,449.96 5,812.50 13,790.69
10,449.96 5,812.50 48,704.33

46,479.08

- - 3,600.00 36,000.00
- - 3,400.00 34,000.00
- - 3,250.00 32,500.00
- - 3,357.50 33,575.00
- - 3,442.50 34,425.00
- - 4,142.50 41,425.00
- - 4,157.50 41,575.00
- - 6,654.00 35,040.00 31,500.00
- - 7,739.50 45,895.00 31,500.00
- - 12,357.00 92,070.00 31,500.00
- - 10,543.50 73,935.00 31,500.00
- - 3,000.00 30,000.00
- - 65,644.00 246,940.00 409,500.00
- - - 10,250.00
- - - 10,942.50
- - - 18,551.00
- - - 25,900.50
- - 65,644.00
Q2 Q3 Q4 TOTAL
- - - 100.00
- - 113.43 113.43
- - 37.59 37.59
- - 47.60 47.60
750.00 500.00 - 1,750.00
3,500.00 3,750.00 3,750.00 14,375.00
4,250.00 4,250.00 3,948.62 16,423.62
16,225.00
198.62
16,423.62
-
12,475.00
3,948.62
16,423.62
-
27 28 35 36
180,000.00 180,000.00
436,000.00 436,000.00
180,000.00 180,000.00 436,000.00 436,000.00

ocumentation?
sss medicare
150 192 50
166.7 313.3 62.5
25 252.7 50
68.075 222.3 50
980.3 212.5
1192.8
sss contribution 14313.6
1999 1998 1997 1996 1995
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P

68,953.45 68,953.45 46,953.45 46,953.45 46,953.45
243,521.65 243,521.65 221,521.65 221,521.65 221,521.65
#NAME? #NAME? #NAME? 176,924.48 168,151.28
#NAME? P #NAME? P #NAME? P 44,597.17 P 53,370.37 P
34,913.64
13,790.69
48,704.33
46,479.08
36,000.00
34,000.00
32,500.00
33,575.00
34,425.00
41,425.00
41,575.00
66,540.00
77,395.00
123,570.00
105,435.00
30,000.00
656,440.00
1994
174,568.20
46,953.45
221,521.65
159,378.08
62,143.57
PROPOSED AJE # 2005-01
sales 37,041.00
rent 3,400.00
cash 40,441.00
to take up sales reflected in vat return

advances f 400,000.00
accounts pa 34,763.28
reclassfication

Cash 400,000.00
advances 400,000.00
reclass

to take up purchase of books

Provision for income tax 2,988.49
deferred inc 2,988.49
Income tax #NAME?
Deferred in #NAME?

advances fr 3,000,000.00
deferred charges 3,058,870.63
a/p 58,870.63
to reclassify
land and es 3,058,870.63
advances 3,000,000.00
a/p 58,870.63
to reclassify to improveents

cash 70,079.23
a/p 70,079.23
to take up cash balances

salaries 4,250.00
a/p 4,250.00
to correct salaries to conform with alpha list

a/r 30,080.89
a/p 30,080.89
to reflect actual receivable

a/p 205,741.25
to take up inventories as received by bir
Minimun corporate income tax
2005 2004 2003
Accounting income #NAME? 389,244.94 (27,999.91)

32% on this #NAME? 124,558.38 (8,959.97)
Effect of
Interest income - - -
Deferred #NAME? - 13,736.02
#NAME? 124,558.38 4,776.05
Basis for MCIT - Ju #NAME? 975,691.49 238,802.34

MCIT at 2% #NAME? 19,513.83 4,776.05
32% net of interest #NAME? 124,558.38 (8,959.97)
Differential betwee #NAME? - 13,736.02
2004 2004
Current
Deferred tax assets:
NOLCO
Inventory differential
Unrealized foreign exchange loss on short-term loans
Various allowances, accruals and others
Less deferred tax liabilities

Capitalized foreign exchange losses, and taxes and
duties on invneoty deducted in advance
Unrealized foreign exchange gain on short-term loans and others
Noncurrent
Deferred tax liabilities:
Excess of double declining over straight-line
method of depreciation and amortization
Capitalized interest, duties, and taxes on
property, plant and equipment deducted in advances and others
Less deferred tax assets:
MCIT - -
Unamortized past service pension cost
2005 2004
Income tax computed at statutory income #NAME? 124,558.38

Income tax effect of permanent differences:
Interest income subjected to lower final tax and others
Income subject to income tax holiday (see Note 22)
Adjustments due to change in applicable income tax rates
for temporary differences in the expected years of
recovery/settlemen
Provision for (benefit from) income tax #NAME? 124,558.38
2005 computation
per computation #NAME? 124,558.38
prior year balance #NAME? #NAME?
2307 2004
rbs 13500 13500
cocoline 1250 1250
billion 600 600
afapi 1200 1200
withholding sale of l #NAME? 60,578.94
#NAME? #NAME?
still due/prepaid #NAME? #NAME?
#NAME? #NAME?
2002 2001
20,671.77 51,349.20
6,614.97 16,431.74
(667.15) (674.24)
12,128.13 -
18,075.95 15,757.50
903,797.33 329,398.70
18,075.95 6,587.97
5,947.81 15,757.50
12,128.13 -
2003 2002
Err:509 Err:509
2003 2001
-
2000 1999
#NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
Restituto R. Adoremus and Co., cpa's

STATEMENT OF INCOME AND DEFICIT

2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994
NET SALES P Sales P 1,000,000.00 P P 1,516,900.00 P - P - P #NAME? P - P - P 1,260,000.00 P 360,000.00 P -
COST OF SALES #NAME? 616,000.00 1,219,199.48 - - #NAME? - - 1,050,000.00 360,000.00 -
GROSS PROFIT #VALUE! 384,000.00 - 297,700.52 - - #NAME? - - 210,000.00 - -
RENTAL INCOM #VALUE! 390,500.00 377,500.00 527,600.00 488,800.00 512,800.00 #NAME? 317,200.00 365,250.00 514,500.00 486,000.00 119,402.49
TOTAL REVENU #VALUE! 774,500.00 377,500.00 825,300.52 488,800.00 512,800.00 #NAME?
OPERATING EXPENSES
Salaries and wag #VALUE! 157,291.05 120,500.00 205,750.00 149,020.50 220,800.00 180,000.00 - 288,000.00 288,000.00 178,000.00 24,000.00
Repairs and main 48,869.25 48,869.25 58,771.24 31,300.00 23,943.25 23,515.00 #NAME? 86,020.70 80,172.40 74,421.00 17,000.00 3,758.20
Taxes and license 25,934.67 25,934.67 83,596.08 144,130.36 98,698.78 #NAME? #NAME? 108,584.56 88,847.03 73,952.16 31,439.48 11,419.00
Professional fees 36,000.00 36,000.00 35,000.00 199,800.00 32,500.00 18,500.00 7,500.00 7,000.00 5,000.00 34,500.00 3,000.00 -
Dues and subscri 46,396.25 46,396.25 42,617.00 31,967.00 31,717.00 32,117.00 #NAME? 36,617.00 35,367.00 32,307.25 36,890.50 18,945.25
Insurance #NAME? 3,416.25 6,150.00 20,724.78 26,237.68 23,074.71 #NAME? 4,800.00 17,339.07 26,629.33 - 9,558.47
Light and water 12,000.00 12,000.00 12,000.00 25,456.93 3,161.00 2,114.00 3,428.53 14,451.27 16,954.22 17,697.66 12,000.00 9,600.00
Gas and oil 8,417.35 8,417.35 2,059.00 1,780.00 1,100.00 300.00
Employees benefi 2,500.00 2,500.00 17,500.00 88,000.00 4,875.00
Representation 12,000.00 12,000.00 - 14,803.35 20,000.00 36,000.00
Commission - 20,000.00 23,000.00
Brokers' fees -
Travel and transp 2,621.75 2,621.75 1,000.00 2,918.00 491.00 363.80 #NAME? 8,214.30 8,606.22 10,131.20 7,893.60 6,072.00
Depreciation (No #NAME? 10,449.96 10,449.96 10,449.96 5,812.50 - #NAME? 11,339.89 8,773.20 8,773.20 8,773.20 11,932.40
Postage, telepho 650.08 650.08 - 2,619.79 2,808.25 348.36 3,641.00 8,932.89 7,496.81 8,072.51 7,801.20 5,200.80
Office supplies 753.90 753.90 1,953.20 2,205.75 2,948.30 2,757.65 #NAME? 696.75 823.25 3,628.35 7,719.40 5,146.25
SSS and medicare #NAME? 14,313.60 5,794.50 798.00 1,620.00 700.00 3,609.60 - 3,609.60 3,609.60 2,622.60 1,635.60
Miscellaneous #VALUE! 3,640.95 8,108.93 24,009.68 14,624.55 #NAME? #NAME? 3,570.00 6,241.25 22,349.04 1,246.00 -
Total Expenses #NAME? 385,255.06 405,499.91 806,713.60 439,557.81 #NAME? #NAME? 290,227.36 567,230.05 604,071.30 314,385.98 107,267.97
INCOME FROM O #VALUE! 389,244.94 (27,999.91) 18,586.92 49,242.19 #NAME? #NAME? 26,972.64 ( 201,980.05) 120,428.70 171,614.02 12,134.52
OTHER INCOME (CHARGES) 2,084.85 2,107.01 2,886.47 - - 3,684.21 ( 18,750.00) ( 142,850.82) -
INCOME BEFORE #VALUE! 389,244.94 (27,999.91) 20,671.77 51,349.20 #NAME? #NAME? 26,972.64 ( 198,295.84) 101,678.70 28,763.20 12,134.52
Provision for incom #NAME? 124,558.38 - 5,947.81 16,431.74 #NAME? #NAME? 9,170.70 - 35,587.55 10,067.12 4,247.08
NET INCOME (LO #VALUE! 264,686.56 (27,999.91) 14,723.96 34,917.46 #NAME? #NAME? 17,801.94 ( 198,295.84) 66,091.16 18,696.08 7,887.44
Retained earnings a #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? (62,951.32) ( 80,753.26) 117,542.58 51,451.42 32,755.34 24,867.90
RETAINED EAR
P #VALUE! P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P #NAME? P ( 62,951.32) P ( 80,753.26) P 117,542.58 P 51,451.42 P 32,755.34
602,004.07 602,004.07 370,217.67

601,104.07 601,104.07 8,417.38
900.00 900.00 (900.00)
370,217.67
-
Cash 134,163.56
prepaid item 132,897.39
land and est 13,281,654.59
property and 42,792.58
deferred inc 16,943.24
accounts payable 1,122,903.17
inome tax payable
customer deposit 14,400.00
advances from officers 10,268,405.21
capital stock 2,258,900.00
retaiend earn 56,157.01
13,664,608.37 13,664,608.38

Customer dep 14,400.00
Sales 1,000,000.00
Cost of sales 616,000.00
a/p 369,600.00

Loans payable 1,900.00
accounts rec 620,350.00
cash 500,000.00
ap 118,449.99

cash 344,311.28
a/p 344,311.28
record cash balance
metro sa 298,263.36
metro ca 67,095.41
365,358.77

rental income 39,500.00
a/p 39,500.00

sss conributi 6,154.73
a/p 6,154.73
PROOSED AJE # 2004-07
salaries 667.30
a/p 667.30

a/p 60,578.94
to take up ewt for sale of lot


Provision fo 124,558.38
to take up rcit

a/p 16,550.00
to take up 2370

prepaid items 124,558.38
insurance 3,416.25
PROPOSED AJEE # 2004-14

a/p 1,355.62

land and improvement 616,000.00
a/p 616,000.00

deferred incom tax 16,943.24
a/p 16,943.24
xx
land and estimated 4,427,275.84
advances fro 368,405.21
deferred cha 3,058,870.63
investment in 1,000,000.00
2004 2003 2002
Accounting income 389,244.94 (27,999.91) 20,671.77

32% on this 124,558.38 (8,959.97) 6,614.97
Effect of
Interest income - - (667.15)
Deferred - 13,736.02 12,128.13
124,558.38 4,776.05 18,075.95
Basis for MCIT - Ju 975,691.49 238,802.34 903,797.33

MCIT at 2% 19,513.83 4,776.05 18,075.95
32% net of interest 124,558.38 (8,959.97) 5,947.81
Differential betwee - 13,736.02 12,128.13
2004 2003
Current
NOLCO

Noncurrent
MCIT - Err:509
2004 2003
Income tax computed at statutory income 124,558.38

recovery/settlemen
Provision for (benefit from) income tax 124,558.38 -
2004 computation of income tax

per computation 124,558.38
prior year balance #NAME?
2307 2004
rbs 13500
cocoline 1250
billion 600
afapi 1200
withholding sale of l 60,578.94
#NAME?
still due/prepaid #NAME?
#NAME?
2001 2000
51,349.20 #NAME?
16,431.74 #NAME?
(674.24) #NAME?
- #NAME?
15,757.50 #NAME?
329,398.70 #NAME?
6,587.97 #NAME?
15,757.50 #NAME?
- #NAME?
2002
Err:509
2001
1999
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
2004 2003 2002
Transportation equipmentP 174,568.20 P 174,568.20 P 174,568.20

Other equipment 138,453.45 138,453.45 138,453.45
313,021.65 313,021.65 313,021.65
Other equipment 10,449.96 10,449.96 10,449.96
10,449.96 10,449.96 10,449.96
2004 data
non purchase
Sales Output VAT Importation Purchases expense w/ vat Input VAT
Jan 31,000.00 3,100.00 -

Feb 36,000.00 3,600.00 -
Mar 36,000.00 3,600.00 -
Apr 25,500.00 2,550.00 -
May 25,500.00 2,550.00 -
Jun 31,000.00 3,100.00 -
Jul 29,000.00 2,900.00 -
Aug 36,000.00 3,600.00 -
Sep 34,000.00 3,400.00 -
Oct 1,036,000.00 103,600.00 -
Nov 30,500.00 3,050.00 -
Dec 34,000.00 3,400.00 -
106,650.00 1,384,500.00 138,450.00 - - -

1,100,500.00
quarterly
q1 103,000.00 10,300.00 - - - -
q2 82,000.00 8,200.00 - - - -
q3 99,000.00 9,900.00 - - - -
q4 1,100,500.00 110,050.00 - - - -
1,384,500.00 138,450.00 - - - -

bt lot 27 and 28 360,000.00
improvement 1,747,706.37
b5 lot 35 and 36 872,000.00
tct 12697 637,000.00
tct 13495 1,650,000.00
tct 1443 palamis 2,500,000.00
improvement
old 1,582,660.08
new 565,480.00
Sual Reallocate
9450 352.00 86,266.45 97,517.28
9451 352.00 86,266.45 97,517.28
9326 260.00 63,719.53 72,029.81
9314 252.00 61,758.93 69,813.51
9312 251.00 61,513.86 69,536.47
9311 256.00 62,739.23 70921.657574
9310 340.00 83,325.55 28254
2,063.00 477336
505,590.00 1723
14846 41,010.00 100,000.00
total cost 12,616,674.80

12,588,420.80

2001 12,852,249.80
transaction 2002
11,633,050.32
Ending 2002 12,476,707.69
ending 2003/2004 13,281,654.59
1604cf
re sss
13th month sss income 3000 1800
emeployee 15708.35 141582.7 5000 2000.4
4000 300
3708.35 816.9
157291.05
-
2001 2000 1999 1998
P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

84,453.45 68,953.45 68,953.45 68,953.45
259,021.65 243,521.65 243,521.65 243,521.65
P #NAME? P #NAME? P #NAME? P #NAME?
34,913.64 34,913.64
5,812.50 13,790.69 13,790.69
5,812.50 48,704.33 48,704.33

46,479.08 46,479.08
should have
Running VAT VAT Paid paid
- 3,100.00
- 3,600.00
- 3,600.00
1,050.00 3,600.00
(1,500.00)
(4,600.00)
(7,500.00)
(11,100.00)
(14,500.00)
(118,100.00)
(121,150.00)
(124,550.00)
(401,950.00) 13,900.00
- 10,300.00
(4,600.00) 3,600.00
(14,500.00) -
(124,550.00) -
13,900.00
27 28 35 36
180,000.00 180,000.00
436,000.00 436,000.00
180,000.00 180,000.00 436,000.00 436,000.00
ocumentation?
sss medicare
150 192 50
166.7 313.3 62.5
25 252.7 50
68.075 222.3 50
980.3 212.5
1192.8
sss contribution 14313.6
1997 1996 1995 1994
P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

46,953.45 46,953.45 46,953.45 46,953.45
221,521.65 221,521.65 221,521.65 221,521.65
#NAME? 176,924.48 168,151.28 159,378.08
P #NAME? P 44,597.17 P 53,370.37 P 62,143.57

rental incom 96,725.00
a/p 96,725.00
to take up tie up with vat return
PROPOSED AJE # 2003-02 alpha 13th sss taxable totoal

salaries 38,542.00 7.30 15,500.00 3,187.80 86,812.20 105,500.00
a/p 38,542.00 7.20 2,000.00 2,000.00
tie up with alpha list 7.10 13,000.00 13,000.00
17,500.00 3,187.80 99,812.20 120,500.00
land and est 804,946.90
a/p 804,946.90

taxes 145,431.33
a/p 145,431.33

a/p 66,339.20

dues and sub 14,229.25
a/p 14,229.25

a/p 35,115.01

employees benefit 72,547.68
a/p 72,547.68

sss 1,191.50
a/p 1,191.50

miscellaneus 110,000.00
a/p 110,000.00

prepaid 15,100.00 19,575.00
a/p 19,575.00 15,100.00

salaries 17,500.00
a/p 17,500.00

Cash 540,240.04
ap 540,240.04

provision fo 4,776.05
income tax 4,776.05

prepaid 4,815.11
income tax 4,815.11
.:
supplies 1,953.20
gas and oil 2,059.00
misce 4,012.20
2003 2002
Transportation equipment P 174,568.20 P 174,568.20 P

Other equipment 138,453.45 138,453.45
313,021.65 313,021.65
Less accumulated depreciation #NAME? #NAME?
P #NAME? P #NAME? P
Other equipment 10,449.96 10,449.96
10,449.96 10,449.96
2002
Leasehold improvement beginning 12,852,249.80

11,633,050.32
Ending 12,476,707.69
PROPOSED AJE # 3
tottake up reclass of transfer tax
AJE # 4
Rent income
Accounts payable -
non purchase
Sales Output VAT Im Purchases expense w/ vat
Jan -
Feb -
Mar -
Apr -
May 25,500.00 2,550.00
Jun 25,500.00 2,550.00
Jul 25,500.00 2,550.00
Aug 31,000.00 3,100.00
Sep 36,000.00 3,600.00
Oct 36,000.00 3,600.00
Nov 36,000.00 3,600.00
Dec 336,000.00 33,600.00
551,500.00 55,150.00 ### -
quarterly
q1 - - ### - -
q2 51,000.00 5,100.00### - -
q3 92,500.00 9,250.00### - -
q4 408,000.00 40,800.00### - -
551,500.00 55,150.00### - -
summary of expenses 2003

july 14303.63
august 89294.81
september 44645.45 148,243.89
2001 2000 1999 1998
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

84,453.45 68,953.45 68,953.45 68,953.45
259,021.65 243,521.65 243,521.65 243,521.65
34,913.64 34,913.64
5,812.50 13,790.69 13,790.69
5,812.50 48,704.33 48,704.33

46,479.08 46,479.08
should have
Input VAT Running VAT VAT Paid paid
- -
- -
- -
- -
- - 2,550.00
- - 2,550.00
- - 2,550.00
- - 3,100.00
- - 3,600.00
- - 3,600.00
- - 3,600.00
- - 33,600.00
- - 55,150.00
- - -
- - 5,100.00
- - 9,250.00
- - 40,800.00
- 55,150.00
1997 1996 1995 1994
P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

46,953.45 46,953.45 46,953.45 46,953.45
221,521.65 221,521.65 221,521.65 221,521.65
#NAME? 176,924.48 168,151.28 159,378.08
P #NAME? P 44,597.17 P 53,370.37 P 62,143.57


Percentage taxes P 15,828.00
Documentary stamp taxes 24,240.00
Annual registration fee 500.00
Specific taxes
Others:
Others
LOCAL TAXES
Residence taxes
Basic 500.00
Additional 196.00
Real estate taxes 64,690.66
Business taxes 21,988.70
Occupation taxes
OTHERS
Others 16,187.00
TOTAL TAXES AND LICENSES PER INCOME TAX RETURN P 144,130.36

INCOME BEFORE INCOME TAX PER STATEMENT OF INCOME P 20,671.77
Interest income subject to final tax P 2,084.85
2,084.85
P
NET TAXABLE INCOME PER INCOME TAX RETURN P 18,586.92

Higher of P
Minimum corporate income tax -2% of P903,797.33 18,075.95
Normal computation - 32% of P18,586.92 5,947.81
P 18,075.95
2003 2002 2001
Accounting income (27,999.91) 20,671.77 51,349.20

32% on this (8,959.97) 6,614.97 16,431.74
Effect of
Interest income - (667.15) (674.24)
Deferred 13,736.02 12,128.13 -
4,776.05 18,075.95 15,757.50
Basis for MCIT - Ju 238,802.34 903,797.33 329,398.70

MCIT at 2% 4,776.05 18,075.95 6,587.97
32% net of interest (8,959.97) 5,947.81 15,757.50
Differential betwee 13,736.02 12,128.13 -
2002 2002
Net current assets - -
Adjustment # 1
Provision for income (8,959.97) 6,614.97
Income tax payable (8,959.97) 6,614.97
to recognize income based on accoutning income
Income tax payable - 667.15

Provision for income tax - 667.15
Deferred income tax 13,736.02 12,128.13

Income tax payable 13,736.02 12,128.13
2002 2002
Current P (8,959.97) P 5,947.81 P

Deferred 13,736.02 12,128.13
P 4,776.05 P 18,075.95 P
2002 2002
Net current assets

Accrual of excess P #VALUE! P 12,128.13 P
Reconciliation
2002 2002
Provision at statutor P (8,959.97) P 6,614.97 P

Tax effect on
Income subject to final tax - (667.15)
Excess of MCIT over normal 13,736.02 12,128.13
Actual provision for P 4,776.05 P 18,075.95 P
2002
taxable 4,776.05 18,075.95

offset against deferred income tax - #NAME?
4,776.05 #NAME?
offset against prepaid 18,075.95 18,075.95
taxable (13,299.90) #NAME?
AJE # 2
Prepaid item 18,075.95 18,075.95

Income tax payalbe 18,075.95 18,075.95 15,757.50
to record offset of prepaid itmes
15,757.50
AJE # 3
Professional fees
Cost of sales - -
1.00 2.00 1.00 2.00 3.00

Rural bank of sual 3,375.00 3,375.00 3,375.00 3,375.00 3,375.00
AFA PI
Golden Meadow
check others
new
2003 2002
Current
NOLCO

Noncurrent

MCIT Err:509 Err:509
2002 2001
Income tax computed at statutory income tax rate

recovery/settlemen
Provision for (benefit from) income tax

2000 1999
#NAME? #NAME?
#NAME? #NAME?
#NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
2001 2000 1999
- - -
16,431.74 #NAME? #NAME?

### #NAME? #NAME?
674.24 #NAME? -
### #NAME? -
- #NAME? #NAME?
### #NAME? #NAME?
2001 2000 1999
15,757.50 P #NAME? P #NAME? P

- #NAME? #NAME?
15,757.50 P #NAME? P #NAME? P
2001 2000 1999
#NAME? P #NAME? P #NAME? P
2001 2000 1999
16,431.74 P #NAME? P #NAME? P
(674.24) #NAME? -
- #NAME? #NAME?
15,757.50 P #NAME? P #NAME? P
15,757.50 #NAME?
#NAME?
#NAME?
22,790.00 256462.54
#NAME? #NAME?
(13,128.10)
#NAME?
#NAME? 13128.15
#NAME? 29754.7
#NAME?
4 total
3,375.00 13,500.00
2400 2,400.00
7000 7,000.00
22,900.00
1998
1998
-
-
-
1998
1998
-
-
-
jan feb mar apr may jun jul aug sep oct nov dec total
-
Cash 10,580.21 (87,349.60) 2,959.47 (185,694.18) (16,119.85) 19,755.92 (14,564.40) 78,097.63 (46,916.98) 44,753.40 (25,948.00) (2,748.36) (223,194.74)
Prepaid items 1,125.00 1,125.00 1,125.00 1,125.00 1,425.00 1,400.00 2,550.00 4,500.00 3,600.00 1,600.00 19,575.00
Deferred income tax (Notes 1 and 4) -
Land and estimated improvement for sale (Notes 1 and 2) -
Property and equipment - net (Notes 1 and 3) -
Deferred income tax (Notes 1 and 4) -
Accounts payable and accrued expenses (30,000.00) (39,000.00) (1,810.50) (874.27) (873.91) (72,558.68)
Income tax payable -
Customers' deposit -
Advances from officers (5,000.00) (5,000.00)
Loans payable -
Capital stock - P100 par value -
Retained earnings (Deficit) -
NET SALES -
COST OF SALES -
RENTAL INCOME (23,500.00) (23,500.00) (23,500.00) (23,500.00) (29,500.00) (80,900.00) (1,900.00) (130,900.00) (1,900.00) (71,200.00) (31,575.00) (32,350.00) (474,225.00)
Salaries and wages 3,000.00 4,000.00 4,000.00 1,810.50 1,810.50 1,810.50 1,810.50 44,405.50 1,810.50 64,458.00
Repairs and maintenance 9,082.50 2,833.74 45,000.00 1,500.00 355.00 58,771.24
Taxes and licenses 3,001.00 10,188.00 146,618.16 28,892.77 3,424.22 874.27 22,606.18 4,474.27 4,474.27 4,474.27 229,027.41
Professional fees 30,948.90 1,800.00 1,800.00 1,800.00 17,390.30 1,800.00 1,800.00 42,000.00 2,000.00 101,339.20
Dues and subscriptions 2,300.00 10,229.25 7,929.25 7,929.25 28,387.75
Insurance 6,150.00 6,150.00
Light and water 5,793.79 592.10 693.79 1,278.34 1,263.77 31,321.61 1,000.00 1,171.61 1,000.00 1,000.00 1,000.00 1,000.00 47,115.01
Gas and oil -
Employees benefits 7,161.03 7,161.03 7,660.50 14,322.06 7,161.03 7,161.03 10,923.00 28,498.00 90,047.68
Representation -
Commission -
Brokers' fees -
Travel and transportation 1,000.00 1,000.00
Depreciation (Note 1 and 3) -
Postage, telephone and telegram -
Office supplies -
SSS and medicare contribution 998.00 998.00 998.00 998.00 998.00 998.00 998.00 6,986.00
Miscellaneous 101,050.00 1,700.00 1,954.25 2,268.78 2,500.00 1,281.63 6,514.90 1,912.02 2,939.55 122,121.13
- - - - - - - - - - - - -
2002 2001 2000 1999
Transportation equipm
P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P
Other equipment 138,453.45 84,453.45 68,953.45 68,953.45
313,021.65 259,021.65 243,521.65 243,521.65
Less accumulated depreci #NAME? #NAME? #NAME? #NAME?
Transportation equipment 34,913.64 34,913.64
Other equipment 10,449.96 5,812.50 13,790.69 13,790.69
10,449.96 5,812.50 48,704.33 48,704.33

46,479.08 46,479.08
2002
Leasehold improv 12,852,249.80

11,633,050.32
Ending 12,476,707.69
PROPOSED AJE # 3
tottake up reclass of transfer tax
AJE # 4
Rent income
Accounts payable -
1998 1997 1996 1995 1994
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

68,953.45 46,953.45 46,953.45 46,953.45 46,953.45
243,521.65 221,521.65 221,521.65 221,521.65 221,521.65
#NAME? #NAME? 176,924.48 168,151.28 159,378.08
#NAME? P #NAME? P 44,597.17 P 53,370.37 P 62,143.57


Documentary stamp taxes 24,240.00
Annual registration fee 500.00
Specific taxes
Others:
Others
LOCAL TAXES
Residence taxes
Basic 500.00
Additional 196.00
Occupation taxes
OTHERS
Others 16,187.00

2,084.85
P

Higher of P
P 18,075.95
2002 2001 2000
Accounting income 20,671.77 51,349.20 #NAME?

32% on this 6,614.97 16,431.74 #NAME?
Effect of
Interest income (667.15) (674.24) #NAME?
Deferred 12,128.13 - #NAME?
18,075.95 15,757.50 #NAME?
Basis for MCIT - Ju 903,797.33 329,398.70 #NAME?

MCIT at 2% 18,075.95 6,587.97 #NAME?
32% net of interest 5,947.81 15,757.50 #NAME?
Differential betwee 12,128.13 - #NAME?
2002 2001
Adjustment # 1
Provision for income 6,614.97 16,431.74
Income tax payable 6,614.97 ###
Income tax payable 667.15 674.24

Provision for income tax 667.15 ###
Deferred income tax 12,128.13 -

Income tax payable 12,128.13 ###
2002 2001
Current P 5,947.81 P 15,757.50 P

Deferred 12,128.13 -
P 18,075.95 P 15,757.50 P
2002 2001
Net current assets

Accrual of excess P 12,128.13 P #NAME? P
Reconciliation
2002 2001
Provision at statutor P 6,614.97 P 16,431.74 P

Tax effect on
Income subject to final tax (667.15) (674.24)
Excess of MCIT over normal 12,128.13 -
Actual provision for P 18,075.95 P 15,757.50 P
2002
taxable 18,075.95 15,757.50

offset against deferred income tax #NAME? #NAME?
#NAME? #NAME?
offset against prepaid 18,075.95 22,790.00
taxable #NAME? #NAME?

(13,128.10)
#NAME?
AJE # 2
#NAME?
Prepaid item 18,075.95 #NAME?
Income tax payalbe 18,075.95 15,757.50
to record offset of prepaid itmes
15,757.50 #NAME?
AJE # 3
Professional fees
Cost of sales -
1.00 2.00 3.00 4 total

Rural bank of sual 3,375.00 3,375.00 3,375.00 3,375.00 13,500.00
AFA PI 2400 2,400.00
Golden Meadow 7000 7,000.00
22,900.00
check others
1999
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
2000 1999 1998
- - -
#NAME? #NAME?
#NAME? #NAME?
#NAME? -
#NAME? -
#NAME? #NAME?
#NAME? #NAME?
2000 1999 1998
#NAME? P #NAME? P -
#NAME? #NAME? -
#NAME? P #NAME? P -
2000 1999 1998
#NAME? P #NAME? P -
2000 1999 1998
#NAME? P #NAME? P -
#NAME? - -
#NAME? #NAME? -
#NAME? P #NAME? P -
#NAME?
256462.54
#NAME?
13128.15
29754.7
2001 2000 1999 1998
Transportation equipm
P 174,568.20 P 174,568.20 P 174,568.20 P 174,568.20 P
Other equipment 84,453.45 68,953.45 68,953.45 68,953.45
259,021.65 243,521.65 243,521.65 243,521.65
Less accumulated depreci #NAME? #NAME? #NAME? #NAME?
Transportation equipment 34,913.64 34,913.64
Other equipment 5,812.50 13,790.69 13,790.69
5,812.50 48,704.33 48,704.33

46,479.08 46,479.08
reconciliation of salaries 2000

Terminated No previus imployment
Sslaries 22,000.00 197,300.00 219,300.00 #NAME?
13th month 1,500.00 1,500.00
SSS 700.00 700.00

bt lot 27 and 28 360000
improvement 1747706.37
b5 lot 35 and 36 872000
tct 12697 637000
tct 13495 1650000
tct 1443 palamis 2500000
improvement
old 1582660.08
new 565480
Sual Reallocate
9450 352.00 86,266.45 97,517.28
9451 352.00 86,266.45 97,517.28
9326 260.00 63,719.53 72,029.81
9314 252.00 61,758.93 69,813.51
9312 251.00 61,513.86 69,536.47
9311 256.00 62,739.23 70,921.66
9310 340.00 83,325.55 28,254.00
2,063.00 477,336.00
505,590.00 1,723.00
14846 41,010.00 100000
total cost 12,616,674.80

12,588,420.80
12,812,249.80
Sale 34,000.00
Cost 28,254.00
2000 adjustments of mila
Prepaid items 5,750.00

AP 5,750.00
Advances to office 20,000.00

cash 20,000.00
Misc bank charge 100.00

cash 100.00
isc bank db 295.00

cash 295.00
taxes and licneses 12,359.54

ap 12,359.54
prpaid #NAME?
provision for inco #NAME?
2000 withheld taxes
Rural bank of sual 230,000.00 11,500.00

S&F Financing 29,400.00 1,470.00
Moneyline 50,400.00 2,520.00
Mr Scott 115,000.00 5,750.00
AFA publication 76,000.00 3,800.00
advance payment r 4,200.00 210.00
505,000.00 25,250.00
2001

beginning 12,812,249.80
improvmeent 40,000.00
12,852,249.80
adjusting journal entry
AJE # 1
Income tax
prepaid
Alpha list 13th sss taxable

terminated 4,875.00 1,000.00 48,750.00
exempt 11,270.50
no previus 88,000.00
4,875.00 1,000.00 148,020.50
149,020.50
1997 1996 1995 1994
174,568.20 P 174,568.20 P 174,568.20 P 174,568.20

46,953.45 46,953.45 46,953.45 46,953.45
221,521.65 221,521.65 221,521.65 221,521.65
#NAME? 176,924.48 168,151.28 159,378.08
#NAME? P 44,597.17 P 53,370.37 P 62,143.57


Specific taxes
Others:
Others
LOCAL TAXES
Residence taxes
Basic
Additional
Occupation taxes
OTHERS
Others

2,107.01
P

Higher of P
P 15,757.50
2001 2000 1999
Accounting income 51,349.20 #NAME? #NAME?

32% on this 16,431.74 #NAME? #NAME?
Effect of
Interest income (674.24) #NAME?
Deferred - #NAME? #NAME?
15,757.50 #NAME? #NAME?
Basis for MCIT - Ju 329,398.70 #NAME? #NAME?

MCIT at 2% 6,587.97 #NAME? #NAME?
32% net of interest 15,757.50 #NAME? #NAME?
Differential betwee - #NAME? #NAME?
2001 2000
Adjustment # 1
Provision for income tax 16,431.74 #NAME?
Income tax payable ### #NAME?
Income tax payable 674.24 #NAME?

Provision for income tax ### #NAME?
Deferred income tax - #NAME?

Income tax payable ### #NAME?
2001 2000
Current P 15,757.50 P #NAME? P

Deferred - #NAME?
P 15,757.50 P #NAME? P
2000 2000
Net current assets

Accrual of excess P #NAME? P #NAME? P
Reconciliation
2000 2000
Provision at statutor P 16,431.74 P #NAME? P

Tax effect on
Income subject to final tax (674.24) #NAME?
Excess of MCIT over normal - #NAME?
Actual provision for P 15,757.50 P #NAME? P
2001
taxable 15,757.50 #NAME?

offset against deferred income tax #NAME?
#NAME?
offset against prepaid 22,790.00 256462.54
balance prepaid TAX #NAME? #NAME?

prepaid insurance (13,128.10)
total prepaid #NAME?
AJE # 2
Deferred income tax #NAME? 13128.15
Prepaid item #NAME? 29754.7
Income tax payalbe 15,757.50
15,757.50 #NAME?
1999 1998
- -
#NAME?
#NAME?
-
-
#NAME?
#NAME?
1999 1998
#NAME? P -
#NAME? -
#NAME? P -
1999 1998
#NAME? P -
1999 1998
#NAME? P -
- -
#NAME? -
#NAME? P -
2002
14 Sales/Revenues/Receipts/Fees (Sch.1) 2,044,500.00
15 Less: Cost of Sales/Services (Sch.2/3) 1,219,199.48
16 Gross Income from Operation 825,300.52
17 Add: Non-Operating & Other Income A 2,084.85

(Schedule 4)
18 Total Gross Income 827,385.37
19 Less: Deductions (Section E) 806,713.60
20 Taxable Income……………………………… 20,671.77
21 Tax Rate (except MCIT Rate)…… 0.32
22 Income Tax ……………………….. ……. … 6,614.97
23 Minimum Corporate Income Tax (MC 18,075.95

24 Tax Due
18,075.95
24A Tax on transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher)
24B Less: Unexpired Excess of Prior Year's MCIT over Normal Income Tax Rate
(deductible only if the current year's tax due is the normal rate)(Section C)………………………………………………..
18,075.95
24C Balance (Item 24A less Item 24B)………………………………………………………………………………………………..
24D Add: Tax on transactions under Special Rate (From Item 22A)………………….
25 Aggregate Income Tax Due (Sum of I 18,075.95

26 Less: Tax Credits/Payments
26A Prior Year's Excess Credits ............ 16,626.55
26B Tax Payments for the Fir 96,926.28
26C Creditable Tax Withheld for 21,485.00
26D Creditable Tax Withheld Per BI 4,295.00
26E Foreign Tax Credits, if applicable...............................................………………………….
26F Tax Paid in Return Previously Filed, if this is an Amended Return............………………………….
26G Total Tax Credits/Payment 139,332.83
27 Tax Payable/(Overpayment)(Item 25 less Item 26G (121,256.88)
28 Improperly Accumulated Earnings Tax (Section D)…………………………………………………………
29 Total (Sum of Items 27 and 28)… (121,256.88)

30 Add: Penalties
Surcharge
30A
31 Total Amount Payable/(Overpayment) (Sum of Items(121,256.88)

2
121,256.88
(To be filled up by the BIR)
DLN: BCS No. PSIC:
Fill in all applicable spaces. Mark all appropriate boxes with an “X”.
1 For the X Calendar Fiscal 3 Amended Return? 4 No. of sheets attached 5 ATC
2 Year Ended
( MM / YYYY )
1 2 2 0 0 2 X
Yes No
Part I Background Information
6 TIN 7 RDO Code
0 0 0 7 3 5 7 7 2 0 3 9 8 Line of Business/ Real Estate
Occupation
9 Taxpayer's Name
10 Registered Address 11 Zip Code
49 Mangyan Road, La Vista, Quezon City 1 1 0 8
12 Are you availing of tax relief under Special Law/ 12B
International Tax Treaty? 12A Yes No If yes, specify
13 Date of Incorporation/Birth 13A Date of Registration with BIR 13B
0 4 0 2 1 9 7 9 0 4 1 4 1 9 9 3
(MM/DD/YYYY) (MM/DD/YYYY)
Part II Computation of Tax
EXEMPT TAXABLE
Special Rate Regular Rate
14 14 14
2,044,500.00
14 Sales/Revenues/Receipts/Fees (Sch.1) A B C
15 15 15
1,219,199.48
15 Less: Cost of Sales/Services (Sch.2/3) A B C
16 16 16
825,300.52
16 Gross Income from Operation A B C
17 17 17
17 Add: Non-Operating & Other Income A B C
2,084.85
(Schedule 4) 18 18 18
18 Total Gross Income A B C
827,385.37
19 19 19
19 Less: Deductions (Section E) A B C
806,713.60
20 20
20 Taxable Income………………………………………………………………………… A B
20,671.77
21A 21B
21 Tax Rate (except MCIT Rate)…………………………………………………………………………………..
32%
22A 22
22 Income Tax ……………………….. ……. ……………………………………………….. B
6,614.97
23
23 Minimum Corporate Income Tax (MCIT)(Section B)……………………………………………………………………
18,075.95
24 Tax Due
24A Tax on transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher) 24A
18,075.95
24B Less: Unexpired Excess of Prior Year's MCIT over Normal Income Tax Rate 24B
(deductible only if the current year's tax due is the normal rate)(Section C)………………………………………………..
24C
24C Balance (Item 24A less Item 24B)………………………………………………………………………………………………..
18,075.95
24D
24D Add: Tax on transactions under Special Rate (From Item 22A)………………….
25
25 Aggregate Income Tax Due (Sum of Items 24C and 24D)………………………………………………….
18,075.95
26 Less: Tax Credits/Payments 26A
26A Prior Year's Excess Credits .........................................................................……………………..
16,626.55
26B
26B Tax Payments for the First Three Quarters……………………………………………………..
96,926.28
26C
26C Creditable Tax Withheld for the First Three Quarters …………………………………………..
21,485.00
26D
26D Creditable Tax Withheld Per BIR Form No. 2307 for the Fourth Quarter …. …………………
4,295.00
26E
26E Foreign Tax Credits, if applicable...............................................………………………….
26F
26F Tax Paid in Return Previously Filed, if this is an Amended Return............………………………….
26G
26G Total Tax Credits/Payments (Sum of Items 26A to 26F)……………………………………………………
139,332.83
27
27 Tax Payable/(Overpayment)(Item 25 less Item 26G)......................................……………………………
(121,256.88)
28
28 Improperly Accumulated Earnings Tax (Section D)…………………………………………………………
29
29 Total (Sum of Items 27 and 28)…………………………………...……………………………………………..
(121,256.88)
30 Add: Penalties
Surcharge Interest Compromise
30A 30B 30C 30D
31 Total Amount Payable/(Overpayment) (Sum of Items 29 & 30D)....................................... 31

If overpayment, mark one box only: (once the choice is made, the same is irrevocable)
(121,256.88)
To be refunded To be issued a Tax Credit Certificate To be carried over as tax credit next year/quarter
Part III D e t a i l s of P a y m e n t
Drawee Bank/ Date
Particulars Agency Number MM DD YYYY Amount
32 Cash/Bank 32 Stamp of Receiving
Debit Memo……………………………………………………………………………. Office and
33 Check 33A 33B 33C 33D Date of Receipt
34 Tax Debit 34A 34B 34C
Memo……………………………
35A 35B 35C 35D
35 Others
Machine Validation/Revenue Official Receipt Details (If not filed with the bank)
EVN (110399)
BIR FORM 1702 (ENCS) - PAGE 2
Section A Gross Income
Schedule 1 Schedule of Sales/Revenues/Receipts/Fees
Creditable Tax Withheld Taxable Amount Creditable Tax Withheld Taxable Amount
36 Sale of Goods/Properties
37 Sale of Services
38 Lease of Properties SEE ATTACHED
39 Total
40 Less: Sales Returns/Discounts
41 Net Sales/Revenues/Receipts/Fees (to Item 14)
Schedule 2 Schedule of Cost of Sales (Trading / Manufacturing)
Amount under Special Rate Amount under Regular Rate
42 Merchandise/Finished Goods Inventory, Beginning
43 Add: Purchases of Merchandise/Cost of Goods Manufactured
44 Total Goods Available for Sale SEE ATTACHED
45 Less: Merchandise/Finished Goods Inventory, End
46 Cost of Sales (to Item 15)
Schedule 3 Schedule of Cost of Sales (Service)
Amount under Special Rate Amount under Regular Rate
47 Direct Charges - Salaries, Wages and Benefits
48 Direct Charges - Materials, Supplies, and Facilities
49 Direct Charges - Depreciation SEE ATTACHED
50 Direct Charges - Rental
51 Direct Charges - Outside Services
52 Direct Charges - Others
53 Total Cost of Services (Sum of Items 47 to 52) (to Item 15)
Schedule 4 Schedule of Taxable Other Income
Nature of Income Creditable Tax Withheld Taxable Amount Creditable Tax Withheld Taxable Amount
54
55
56
57 SEE ATTACHED
58
59
60
61 Total Other Income (to Item 17)
Section B Computation of Minimum Corporate Income Tax (MCIT) of Current Year
62 Total Gross Income for MCIT purposes
63 Tax Rate
64 Minimum Corporate Income Tax (to Item 23)
Section C Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year
Normal Income Tax MCIT Excess of MCIT over Excess MCIT applied Balance MCIT Expired Portion
Year as adjusted Normal Income Tax this Year still allowable of Excess MCIT
as adjusted as Tax Credit
65
66
67 SEE ATTACHEDS
68
69
Section D Computation of Improperly Accumulated Earnings Tax
70 Taxable Income
71 Add: Income Exempt from Tax
Income Excluded from Gross Income
Income Subject to Final Tax
Net Operating Loss carry-over deducted
72 Total
73 Less: Dividends actually or constructively paid
Income Tax Paid for the taxable year
74 Improperly Accumulated Taxable Income
75 Tax Rate
76 Improperly Accumulated Earnings Tax (to Item 28)
Section E Deductions
EXEMPT TAXABLE
Nature of Expense / Deduction Special Rate Regular Rate
77 Salaries and Allowances
78 Fringe Benefits
79 SSS, GSIS, Medicare, HDMF and
Other Contributions
80 Commissions
81 Outside Services
82 Advertising
83 Rental
84 Insurance
85 Royalties
86 Repairs & Maintenance
87 Representation & Entertainment SEET ATTACHED
88 Transportation & Travel
89 Fuel and Oil
90 Communications, Light and Water
91 Supplies
92 Interest
93 Taxes & Licenses
94 Losses
95 Bad Debts
96 Depreciation
97 Amortization of Intangibles
98 Depletion
99 Charitable Contribution
100 Research and Development
101 Amortization of Pension Trust Contribution
102 Miscellaneous
103 Total Expenses (Sum of Items 77 to 102)
(to Item 19A, B & C)
Section F Reconciliation of Net Income Per Books Against Taxable Income
104 Net Income/(Loss)per books………………………………………..
105 Add: Non-deductible Expenses/Other Taxable Income
SEE ATTACHED
106 Total (Sum of Items 104 & 105)……………………………………

107 Less: Non-taxable Income and Income subjected to Final Tax
108 Net Taxable

Special
Income/(Net
Deductions:
Loss) (Item 100 less Item 103 )
109 Total (Sum of Items 107 & 108)……………………………

110 Net Taxable Income/(Net Loss) (Item 106 less Item 109)
We declare, under the penalties of perjury, that this return has been made in good faith, verified by us, and to the best of our knowledge and belief,
is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority
thereof.
111 PIA AGBAYANI FAJARDO 112
President/Vice President/Authorized Representative Treasurer/Asst. Treasurer/Authorized Representative
(Signature over printed Name) (Signature over printed Name)
Date Issued
Community Tax Certificate Number Place of Issue MM DD YYYY Amount
113 114 115 116

Operation ATC Description Tax Tax Operation ATC Description Tax Tax
Code Rate Base Code Rate Base
DOMESTIC 7. Exempt Corporation
CORPORATION 13 IC 011 a. On Exempt Activities 0%
01 IC 010 1. In General 01 IC 010 b. On Taxable Activities *same rate On Taxable Income
a. 1998 34% as in 1a
1999 33% Taxable Income 14 IC 021 8. General Professional Partnership 0%
2000 32% from All sources 9. Corporation covered by Special Law*
IC 055 b. Minimum Corporate Income Tax 2% Gross Income RESIDENT FOREIGN
IC 370 c.Improperly Accumulated Earnings Tax 10% Improperly Accumulated Taxable Income CORPORATION
02 IC 030 2. Proprietary Educational Institutions 10% On Taxable Income from All sources 09 IC 070 1. In General
02 IC 031 3. Non-stock, Non-Profit Hospitals 10% On Taxable Income from All sources a. 1998 34% On Taxable
04 IC 040 4. GOCC, Agencies & Instrumentalities On Taxable 1999 33% Income from
a. 1998 34% Income from 2000 32% within the Philippines
1999 33% All sources IC 055 b. Minimum Corporate Income Tax 2% On Gross Income
2000 32% IC 370 c.Improperly Accumulated Earnings Tax 10% Improperly Accumulated Taxable Income
b. Minimum Corporate Income Tax 2% On Gross Income 10 IC 080 2. International Carriers 2.5% Gross Philippine Billing
c.Improperly Accumulated Earnings Tax 10% Improperly Accumulated Taxable Income IC 101 3. Regional Operating Headquarters* 10% On taxable Income
IC 041 5. National Gov't & LGU's 4. Corporation covered by Special Law*
a. 1998 34% On Taxable IC 190 5. Offshore Banking 10% On Gross Taxable Income on
1999 33% Income from Units (OBU's) Foreign Currency Transaction
2000 32% Proprietary activities not subjected to Final Tax
b. Minimum Corporate Income Tax 2% On Gross Income a. 1998 34% On Taxable Income
c.Improperly Accumulated Earnings Tax 10% Improperly Accumulated Taxable Income 1999 33% Other Than Foreign
08 IC 020 6. Taxable Partnership 2000 32% Currency Transaction
a. 1998 34% On Taxable IC 191 6. Foreign Currency 10% On Gross Taxable Income on
1999 33% Income from Deposit Units (FCDU's) Foreign Currency Transaction
2000 32% All sources not subjected to Final Tax
IC 055 b. Minimum Corporate Income Tax 2% On Gross Income a. 1998 34% On Taxable Income
IC 370 c.Improperly Accumulated Earnings Tax 10% Improperly Accumulated Taxable Income 1999 33% Other Than Foreign
2000 32% Currency Transaction
* PLEASE REFER TO REVENUE DISTRICT OFFICES
BIR Form No. 1702 - Annual Income Tax Return (For Corporations and Partnerships)
GUIDELINES AND INSTRUCTIONS
December 31, 1998
Accounts Receivable Accounts Receivable
Cash Trade Others Inventories Import Cost Summary Prepaid items
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit
Beginning balances 4,235,292.50 8,304,806.12 10,000.00 10,943,704.37 870,563.47

April 2,600,498.81 5,421,103.68 #NAME? 2,600,498.81 #NAME? #NAME? #NAME?
May 3,338,848.54 3,234,201.77 #NAME? 3,338,848.54 #NAME? #NAME? #NAME? #NAME?
June 3,743,949.76 3,446,807.69 #NAME? 3,743,949.76 #NAME? #NAME? 116,712.46 #NAME?
July 3,307,871.01 896,492.48 #NAME? 3,307,871.01 #NAME? #NAME? 474,196.85 #NAME?
August 2,551,390.79 1,046,471.34 #NAME? 2,551,390.79 #NAME? #NAME? #NAME?
September 1,716,898.23 5,531,815.13 #NAME? 1,716,898.23 #NAME? #NAME? 88,390.62 #NAME?
October 1,753,259.41 2,629,649.11 #NAME? 1,753,259.41 #NAME? #NAME? 122,912.43 #NAME?
November 2,714,402.24 1,986,610.23 #NAME? 2,391,691.02 8,000.00 #NAME? #NAME? 37,722.74 #NAME?
December 2,556,160.71 544,748.16 #NAME? 2,556,160.71 - #NAME? 108,458.60 #NAME?
January 3,049,306.03 2,425,910.70 #NAME? 2,049,306.03 #NAME? #NAME? 7,616,895.77 #NAME?
February 2,537,684.07 1,110,865.36 #NAME? 2,072,123.16 #NAME? #NAME? 1,077,565.09 #NAME?
March 4,477,989.55 9,225,984.51 #NAME? 4,477,989.55 2,000.00 #NAME? 1,887,426.26 8,694,460.86 #NAME?
Closing entries
Balance end 1,082,891.49 13,410,217.79 8,215,881.01
38,583,551.65 38,583,551.65 #NAME? 45,970,204.81 10,000.00 10,000.00 #NAME? #NAME? #NAME? 9,168,657.71 #NAME?
Check on totals 0.00 #NAME? - #NAME? #NAME? #NAME?
Check on deficit #NAME?

#NAME?
#NAME?
Accounts Receivable Accounts Receivable

Property Accounts payable
and Accumulated and
Prepaid items Investment in Shares Equipment depreciation Other Assets accrued expenses Income tax
Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit
39,920.00 149,495.00 142,020.63 44,100.00 23,211,131.74

#NAME? 4,622.48 5,421,103.68 #NAME?
#NAME? 4,622.48 3,234,201.77 #NAME?
#NAME? 946.00 - 3,446,807.69 #NAME?
#NAME? - 896,492.48 #NAME? 60,857.13
#NAME? - 1,046,471.34 #NAME?
#NAME? - 5,531,815.13 #NAME?
#NAME? - 1,784,864.76 #NAME?
#NAME? 23,438.00 - 209,996.86 #NAME?
#NAME? - 206,128.29 -
#NAME? 574.75 - 2,425,910.70 #NAME?
#NAME? - 4,110,865.35 #NAME?
#NAME? 75,688.72 46,224.75 92,449.50 17,412,779.17 #NAME? 6,783.42
333,068.61 39,920.00 250,142.47 197,490.33 44,100.00 21,579,304.36 71,034.92
#NAME? 250,142.47 250,142.47 243,715.08 243,715.08 44,100.00 44,100.00 67,306,741.58 #NAME? 138,675.47
- - - #NAME? -
and Accumulated and

Advances
from Cost of
Income tax Dividend Payable Stockholders Paid in capital Retained earnings Sales Sales
60,857.13 700,000.00 250,000.00 233,871.96

1,289,107.21 #NAME? #NAME?
76,966.42 #NAME? #NAME?
82,992.02 #NAME? #NAME?
#NAME? #NAME?
206,170.99 #NAME? #NAME?
560,798.35 #NAME? #NAME?
250,000.00 #NAME? #NAME?
1,462,102.15 #NAME? #NAME?
#NAME? #NAME?
#NAME? #NAME?
465,560.91 #NAME? #NAME?
77,818.34 187,500.00 615,560.91 #NAME? 1,528,212.77
( 42,980.21) 34,233,841.29
187,500.00 900,000.00 250,000.00 190,891.76
138,675.47 187,500.00 187,500.00 3,304,629.48 3,304,629.48 250,000.00 250,000.00 190,891.76 190,891.75 34,233,841.29 #NAME? #NAME?
- 0.00 - 0.01 #NAME? #NAME?
90,026.52
3,478.35
from Cost of
Rent, light
Cost of and
Sales Purchases Selling and Distribution Expenses Salaries and wages water Depreciation Taxes and licenses
#NAME? #NAME? 163,711.19 #NAME? #NAME? 4,622.48 #NAME?

#NAME? #NAME? 40,174.48 42,181.13 4,622.48 17,494.89
#NAME? #NAME? 142,611.65 56,294.97 20,546.60
#NAME? #NAME? 113,463.49 88,212.44 - 24,152.89
#NAME? #NAME? 126,855.83 58,716.16 11,813.66 - 24,615.89
#NAME? #NAME? 152,030.23 147,134.14 11,813.66 -
#NAME? #NAME? 53,596.65 85,259.59 11,913.66 -
#NAME? #NAME? 160,465.70 58,666.90 11,813.66 -
- - 33,929.19 145,472.92 11,913.66 -
#NAME? #NAME? 114,032.80 137,189.06 11,913.66 -
#NAME? #NAME? 33,019.06 89,304.66 11,913.66 - 1,450.00
#NAME? #NAME? 6,104.11 66,025.94 319,418.64 68,086.34 46,224.75 30,094.68
31,668,448.79 1,139,994.38 702,659.16 162,995.62 55,469.70
31,668,448.79 #NAME? #NAME? 1,139,994.38 1,139,994.38 #NAME? 1,022,077.80 #NAME? 162,995.62 55,469.70 55,469.70 #NAME?
#NAME? 0.00 #NAME? #NAME? - #NAME?
Cost of and
Postage, telephone
and SSS and medicare
Taxes and licenses Insurance Commission Gas and oil telegram Office supplies contribution

900.00 1,301.96 657.40 4,068.60
20,000.00 819.14 19,574.00 1,595.70
43,119.64 22,000.00 800.00 723.15 103.50 5,628.00
38,701.12 21,406.00 700.00 1,657.27 622.50 5,651.50
#NAME? 19,842.68 88,390.62 #NAME? 1,150.00 5,388.60 3,133.75 8,677.00
1,100.00 613.00 1,654.00
2,628.95 1,560.87 57.25 5,775.00
520.00 25,000.00 5,775.00
1,375.03 8,154.16 4,421.00
800.00 2,313.81 4,421.00
47,777.43 1,640.00 440.00 1,195.11 15,000.00 1,922.00 1,737.40
31,544.68 61,050.25 11,818.98 33,727.07 26,070.40
#NAME? 149,440.87 149,440.87 #NAME? #NAME? #NAME? 12,258.98 48,727.07 48,727.07 26,070.40 26,070.40 #NAME?
- #NAME? #NAME? - - #NAME?
and SSS and medicare

Repairs
SSS and medicare and
contribution Transportation and travel Representation Professional fees maintenance Promotion Bank Charges

1,699.14
2,947.33 168.00 200.00
500.00 33.00 20,500.00 2,045.00
10,500.00 18.00 1,300.00
20,000.00 50.00
1,055.50 785.00
644.00 2,750.00 960.00
79.00
222.00 330.00
12,150.00 1,305.00 158.00 967.00 4,983.50

38,989.60 39,312.47 549.00 20,550.00 11,251.40 960.00
51,139.60 #NAME? 39,470.47 #NAME? 549.00 #NAME? 20,550.00 #NAME? 11,251.40 #NAME? 960.00 #NAME?
SSS and medicare and

Other income
Bank Charges Miscellaneous (charges) Provision for income tax Cash Dividends
Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
24,597,881.46 24,597,881.46
97.25 #NAME? #NAME?
#NAME? #NAME?
25.00 #NAME? #NAME?
411.79 #NAME? #NAME?
590.96 100.00 #NAME? #NAME?
146.85 100.00 #NAME? #NAME?
1,212.25 100.00 #NAME? #NAME?
7,371.50 100.00 #NAME? #NAME?
4,171.71 100.00 #NAME? #NAME?
2,757.00 100.00 #NAME? #NAME?
1,927.65 18,458.50 100.00 77,818.34 187,500.00 #NAME? #NAME?
4,983.50 1,328.16 200.00 77,818.34 187,500.00 34,234,041.29 34,234,041.29
23,376,221.37 23,376,221.37
4,983.50 #NAME? 19,786.66 500.00 #NAME? 77,818.34 77,818.34 187,500.00 187,500.00 #NAME? #NAME?
#NAME? #NAME? - - #NAME?
Other income
Difference
-
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
-
- 0.00
#NAME?
Cash
Debit Credit Balance
Beginning balances #REF! #REF! #REF!
April #REF! #REF! #REF!
May #REF! #REF! #REF!
June #REF! #REF! #REF!
July #REF! #REF! #REF!
August #REF! #REF! #REF!
September #REF! #REF! #REF!
October #REF! #REF! #REF!
November #REF! #REF! #REF!
December #REF! #REF! #REF!
January #REF! #REF! #REF!
February #REF! #REF! #REF!
March #REF! #REF! #REF!
Closing entries #REF! #REF! #REF!
Balance end #REF! #REF! #REF!
#NAME?

#NAME?
Trade receivables
Debit Credit Balance
#NAME?

Aqueduct - 2018-fs - For Discussion and Adjustent

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Aqueduct - 2018-fs - For Discussion and Adjustent

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AQUEDUCT DEVELOPMENT CORPORATION

NON CURRENT ASSETS

LIABILITIES AND STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY (Note 10)

See accompanying Notes to Financial Statements

cash balance 12/31/2015 amount

Time Deposit 2,600,000

AQUEDUCT DEVELOPMENT CORPORATION

Year ended December 31

RENTAL INCOME P 445,000 P 447,000

OPERATING EXPENSES (Note 13) 451,264 605,138

INCOME FROM OPERATION (6,264) (158,138)

OTHER INCOME (CHARGES)

INCOME BEFORE INCOME TAX 33,544 855,900

Provision for income tax (Note 9)

NET INCOME (LOSS) / TOTAL COMPREHENSIVE

Earnings (Loss) per share (Note 14) P (1.12) P 16.15

See accompanying Notes to Financial Statements

normal 10,063.20 256,770.00

mcit 8,900.00 8,940.00

due 10,063.20 256,770.00

still due (192,440.40) (84,038.00)

Accounts payable and accrued expenses

2307 for 2008

defective copies of boosk

net slaes of books

details of allowable representation expense

total representation per fs

AQUEDUCT DEVELOPMENT CORPORATION

'Year ended December 31

CAPITAL STOCK (Note 10)

ADDITIONAL PAID IN CAPITAL

See accompanying Notes to Financial Statements

Authorized - 30,000 shares at P100 par value

Less subscription receivable:

AQUEDUCT DEVELOPMENT CORPORATION

'Year ended December 31

CASH FLOWS FROM OPERATING ACTIVITIES

Net cash from operating activities 368,785 274,658

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash used in investing activities 824,377 (2,500,000)

NET INCREASE (DECREASE) IN CASH AND

CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 2,814,698 40,040

CASH AND CASH EQUIVALENTS AT END OF YEAR P 2,359,106 P 2,814,698

See accompanying Notes to Financial Statements

AQUEDUCT DEVELOPMENT CORPORATION #NAME?

'December 31 December 31 December 31

NON CURRENT ASSETS

LIABILITIES AND STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY (Note 9)

accounts payable 100,000.00 100,000.00

cash balance 12/31/2015 amount amount amount interest

Time Deposit 2,600,000

AQUEDUCT DEVELOPMENT CORPORATION

Year ended December 31

COST AND EXPENSES

INCOME FROM OPERATION #NAME? #NAME?

OTHER INCOME (CHARGES)

INCOME BEFORE INCOME TAX #NAME? #NAME?

Provision for income tax (Notes 8 and 10)

NET LOSS / TOTAL COMPREHENSIVE

Earnings (Loss) per share #NAME? #NAME?