NOTE 1: OTHER INCOME

Rent Income P30,000

Dividends Income 15,000 Alex Bern Spa
Gains on Sale of Equipment 10,000
Interest Income 6,000
Total P61,000
Income Stement
NOTE 2 : Depreciation Expense
Dep. Expense-Building P15,000 For Year Ended December 202x
Dep. Expense-Equipment P5,000
Total P20,000
Note
NOTE 3 : Other Expense
Loss on Sale of Furniture P4,000 Service Revenue 454,000
Other Income 1 61,000
N NOTE 4 : Finance Costs Total 515,000
Int. Expense-Mortgage P3,000 Expenses
Int. Expense-Loan   P1,000
Total P4,000 Salaries 155,000
Rent 85,000
Depreciation 2 20,000
Supplies 5,000
Insurance 2,000
Other Expense 3 4,000
Finance Cost 4 4,000 275,000
240,000
 
Ren Ren Merchandising
Income Stement
For Year Ended December 202x
       

  Note    

Net Sales 1   Pxx.xx

Cost of Sales 2   xxx
Gross Profit     xx.xx
Other Income 3   xx.xx
Total Income     Pxx.xx
Operating Expenses      

Distribution Expenses 4 xx.xx  

Administrative Expenses 5 xxx  
Other Expenses 6 xxx  
Finance Cost   xxx xxx
Net Income     Pxx.xx
       

Net Sales
  1   420,000
Net Sales

    450,000
Gross Sales
Less: Sales Returns & Allowances 18,000

 
Sales discount 12,000 30,000

Net Sales   420,000

Cost of Sales
 
2  
256,000
Cost of Sales
       
Note 2 - Cost of Sales
Merchandise Inventory, Beginning    
80,000
 
Add: Purchases 284,000  
Freight-In  
6,000  
 
Cost of goods Delivered 290,000  
Less: Purchase Returns      

& Allowances 14,000    

Purchase Discounts 12,000 26,000 264,000

   
Goods available for sale 344,000
Less: Merchandise Inventory, End    
88,000
   
Cost of Sales 256,000

Other Income

3   90,000
 

Other Income
   

Note 3 - Other Income

Dividends Income 50,000
Rent Income 40,000
Total Income 90,000

Distribution Expense/ Selling Expenses

     

Operating Expense
Distribution expense 4 115,000

   

Note 4 - Distribution Expenses

Sales Salaries Expense 74,000
Advertising Expense 18,000
Freigh-out 14,200
Store Supplies 6,000
Utilities Expense - Store 2,800
Total 115,000

General/ Administrative Expenses

Note 5 – Administrative Expenses

Office Salaries Expense 1,000
Doubtful Accounts Expense 7,200
Utilities Expense - Office 4,800
Office Supplies 2,400
Total 15,400

Note 6 – Other Expenses

Discount Loss 1,600