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    FS Amardex

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    Gideon Salvador
    Amardex Drugstore's statement of income and expenses for 2019 shows: 1) Total sales of 3,009,022.83 with a gross income of 1,955,864.84 after deducting cost of goods sold of 1,053,157.99. 2) Total operating expenses of 300,864.84 resulting in a net income before tax of 1,655,000. 3) After accounting for a provision for income tax of 386,500, the net income for the year was 1,268,500. The statement of financial position lists total assets of 3,057,210 including current assets of 721,860 and fixed assets of 2,

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    FS Amardex

    Uploaded by

    Gideon Salvador
    97 views104 pages
    Amardex Drugstore's statement of income and expenses for 2019 shows: 1) Total sales of 3,009,022.83 with a gross income of 1,955,864.84 after deducting cost of goods sold of 1,053,157.99. 2) Total operating expenses of 300,864.84 resulting in a net income before tax of 1,655,000. 3) After accounting for a provision for income tax of 386,500, the net income for the year was 1,268,500. The statement of financial position lists total assets of 3,057,210 including current assets of 721,860 and fixed assets of 2,

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    FS-AMARDEX

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    Amardex Drugstore's statement of income and expenses for 2019 shows: 1) Total sales of 3,009,022.83 with a gross income of 1,955,864.84 after deducting cost of goods sold of 1,053,157.99. 2) Total operating expenses of 300,864.84 resulting in a net income before tax of 1,655,000. 3) After accounting for a provision for income tax of 386,500, the net income for the year was 1,268,500. The statement of financial position lists total assets of 3,057,210 including current assets of 721,860 and fixed assets of 2,

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    97 views104 pages

    FS Amardex

    Uploaded by

    Gideon Salvador
    Amardex Drugstore's statement of income and expenses for 2019 shows: 1) Total sales of 3,009,022.83 with a gross income of 1,955,864.84 after deducting cost of goods sold of 1,053,157.99. 2) Total operating expenses of 300,864.84 resulting in a net income before tax of 1,655,000. 3) After accounting for a provision for income tax of 386,500, the net income for the year was 1,268,500. The statement of financial position lists total assets of 3,057,210 including current assets of 721,860 and fixed assets of 2,

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    Marichar Gutierrez Alatraca

    Brgy Balayang Victoria Tarlac

    AMARDEX DRUGSTORE
    STATEMENT OF INCOME & EXPENSES
    For the year ended December 31, 2019

    Sales 3,009,022.83
    Less: Cost of Sales
    Inventory Beginning 1,104,606.66
    Add: Purchases 1,656,910.00
    Total 2,761,516.66
    Less: Inventory End 1,708,358.67
    Cost of Sales 1,053,157.99
    Gross Income 1,955,864.84

    Less: Operating Expenses


    Communication, Light and Water 39,523.83
    Fuel & Oil 82,653.28
    Depreciation Expenses 10,801.71
    Miscellaneous Expenses 16,535.62
    Repairs & Maintenance 23,077.86
    Taxes & Licenses 128,272.52
    Total Operating Expenses 300,864.84

    Net Income Before Tax 1,655,000.00

    Less: Provision for Income Tax 386,500.00

    NET INCOME FOR THE YEAR 1,268,500.00


    Marichar Gutierrez Alatraca
    Brgy Balayang Victoria Tarlac

    AMARDEX DRUGSTORE
    STATEMENT OF INCOME & EXPENSES
    For the year ended December 31, 2019

    ASSETS
    Current Assets:
    Cash & Cash Equivalents 190,800.00
    Accounts Receivable 184,560.00
    Merchandise Inventory 346,500.00
    Total Current Assets 721,860.00

    Fixed Assets:

    Service Vehicles 1,120,000.00


    Residential House & Lot 1,500,000.00
    Furniture & Fixtures 180,500.00
    Store Improvements 250,000.00
    Total 3,050,500.00
    Less: Accumulated Depreciation 915,150.00
    Total Fixed Assets 2,135,350.00

    Other Assets 200,000.00

    Total Assets 3,057,210.00

    LIABILITIES & NETWORTH

    LIABILITIES
    Accounts Payable 525,617.40
    Accrued Expenses 350,411.60
    Total Liabilities 876,029.00

    Networth
    Capital Beginning 912,681.00
    Add: Net Income 1,268,500.00
    Total Networth 2,181,181.00
    Total Liabilities & Networth 3,057,210.00

    Marichar Gutierrez Alatraca


    Brgy Balayang Victoria Tarlac

    AMARDEX DRUGSTORE
    STATEMENT OF INCOME & EXPENSES
    For the year ended December 31, 2019

    Net Income 1,268,500.00


    Depreciation Expense 457,575.00
    Payment to Suppliers (4,485,599.70)
    Collection of Receivables 1,450,000.00
    Net flow From Operations 190,800.00

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