Bettancort Inc.

Bank Reconcilation Statement

For the Year Ended December 31, 2024
( Amounts in Philippine Peso )

Unadjusted Balance
Bank Charge for a DAUD Check (SQUEEZED)
Overstatement of Book Disbursement
Outstanding Checks
Uneposited Collections
ADJUSTED BALANCE

Adjusting Journal Entries:

12/31/2024 Bank Charges

Cash in Bank
*To record the DAUD check bank charge

12/31/2024 Cash in Bank

Accounts Payable
*To adjust the correct amount of cash disbursed
 Bettancort Inc.
Bank Reconcilation Statement
For the Year Ended December 31, 2024
( Amounts in Philippine Peso )

Book Bank
450,000.00 624,500.00
(SQUEEZED) (21,900.00)
sbursement 18,000.00
(354,400.00)
176,000.00
446,100.00 446,100.00

Book Book
21,900.00
21,900.00
e DAUD check bank charge

18,000.00
18,000.00
e correct amount of cash disbursed
 Bettancort Inc.
Corporate Income Tax Computation
For the Year Ended Decmber 31, 2024
( Amounts in Philippine Peso )

Net Sales
Less: Cost of Sales
Gross Income from Operation
Add: Other Taxable Income Not Subject to Final Test
Total Gross Income
Less: Ordinary Allowance Deduction

Net Taxable Income

Income Tax Rate
Income Tax Due
Minimum Corporate Income Tax (MCIT)

Total Income Tax Due

Less: Total Tax Credits/Payments
Net Taxable Payable (Overpayment)
4

1,200,000.00
(500,000.00)
700,000.00
166,000.00
866,000.00
(486,000.00)

380,000.00
30.00%
114,000.00
17,320.00

114,000.00
(61,230.00)
52,770.00
 Bettancort Inc.
Comparative Retained Earnings
For the Years Ended December 31, 2024 and 2023
( Amounts in Philippine Peso )

Retained Earnings, January 1

Add: Net Income For the Year
Total
Less: Dividends
On Preferred Stock
On Common Stock
Total
Retained Earnings, December 31

Bettancort Inc.
Comparative Income Statement
For the Years Ended December 31, 2024 and 2023
( Amounts in Philippine Peso )

Sales ( all on account )

Sales Returns and Allowances
Net Sales
Cost of Goods Sold
Gross Profit
Selling Expenses
Administrative Expenses
Total Operating Expenses
Income from Operations
Other Income
Income Before Interest and Taxes
Other Expense ( Interest )
Income Before Income Tax
Income Tax
Net Income

Bettancort Inc.
Comparative Balance Sheet
 For the Years Ended December 31, 2024 and 2023
( Amounts in Philippine Peso )

ASSET
Current Assets:
Cash
Marketable Securities
Accounts Receivable ( net )
Inventories
Prepaid Expenses
Total Current Assets

Non-Current Assets:
Long-Term Investments
Property, Plant, and Equipment ( net )
Total Non-Current Assests

TOTAL ASSESTS

LIABILITIES
Current Liabilities
Account Payable
Income Tax Payable
Dividends Payable
Total Current Liabilities

Non-Current Liabilities
Mortgage Note Payable, 8%, due 2029
Bond Payable, 10%, due 2026
Total Non-Current Liabilities
TOTAL LIABILITIES

STOCKHOLDER'S EQUITY
Preffered Php 0.75 Stock, Php 10 par
Common Stock, Php 10 par
Retained Earnings
TOTAL STOCKHOLDER'S EQUITY

TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY

 rnings
2024 and 2023
Peso )

2024 2023
2,655,000.00 2,400,000.00
266,000.00 280,000.00
2,921,000.00 2,680,000.00

(15,000.00) (15,000.00)
(10,000.00) (10,000.00)
(25,000.00) (25,000.00)
2,896,000.00 2,655,000.00

ement
2024 and 2023
Peso )

2024 2023
1,212,000.00 1,010,000.00
(12,000.00) (10,000.00)
1,200,000.00 1,000,000.00
(500,000.00) (475,000.00)
700,000.00 525,000.00
(240,000.00) (200,000.00)
(180,000.00) (150,000.00)
(420,000.00) (350,000.00)
280,000.00 175,000.00
166,000.00 225,000.00
446,000.00 400,000.00
66,000.00 60,000.00
380,000.00 340,000.00
114,000.00 60,000.00
266,000.00 280,000.00

heet
 2024 and 2023
Peso )

2024 2023

446,100.00 400,000.00
300,000.00 260,000.00
151,900.00 110,000.00
67,000.00 58,000.00
153,000.00 139,000.00
1,118,000.00 967,000.00

2,350,000.00 2,200,000.00
1,286,000.00 1,188,000.00
3,636,000.00 3,388,000.00

4,754,000.00 4,355,000.00

380,230.00 315,000.00
52,770.00 60,000.00
25,000.00 25,000.00
458,000.00 400,000.00

100,000.00 -
1,000,000.00 1,000,000.00
1,100,000.00 1,000,000.00
1,558,000.00 1,400,000.00

200,000.00 200,000.00
100,000.00 100,000.00
2,896,000.00 2,655,500.00
3,196,000.00 2,955,000.00

4,754,000.00 4,355,000.00
 Current Ratio

Quick Ratio

Accounts Receivable Turnover

Price-Earnings Ratio

Earnings per Share

Current Assets 1,118,000.00
= 2.44:1
Current Liabilities 458,000.00

Quick Assets 898,000.00

= 1.96:1
Current Liabilities 458,000.00

Net Credit Sales 1,200,000.00

= 9.16 times
Average Receivables 130,950.00

Market Value per Share 71.25

= 2.84:1
Earnings per Share 25.10

Net Income - Preferred Dividends 251,000.00

= 25.10 per share
End of the Period Common Shares 10,000.00
 Bettancort Inc.
Cash Flows Statement
As of December 31, 2024 and 2023
( Amounts in Philippine Peso )

Cash Provided ( Used ) by Operating Activities

Net Income for the Period
Add: Depreciation Expense for the year

Total
( Increase ) Decrease in Marketable Securities
( Increase ) Decrease in Accounts Receivable ( net )
( Increase ) Decrease in Inventories
( Increase ) Decrease in Prepaid Expenses
Increase ( Decrease ) in Accounts Payable
Increase ( Decrease ) in Income Tax Payable
Cash Provided ( Used ) by Operating Activities

Cash Provided ( Used ) by Investing Activities

Additional Long Term Investments
Purchase of Additional Office Equipment
Cash Provided ( Used ) by Investing Activities

Cash Provided ( Used ) by Financing Activities

Additional Mortgage by Payable
Payment of Dividends
Increase ( Decrease ) in Bons Payable
Cash Provided ( Used ) by Financing Activities

Net Changes in Cash

Add: Beginning Cash Balance
Ending Cash Balance - December 31, 2024
 2024

266,000.00
68,000.00

334,000.00
(40,000.00)
(41,900.00)
(9,000.00)
(14,000.00)
65,230.00
(7,230.00)
621,100.00

(150,000.00)
(166,000.00)
(316,000.00)

100,000.00
(25,000.00)
-
75,000.00

380,100.00
400,000.00
446,100.00