Scribd Logo
Upload

Welcome to Scribd!

  • 24 views

    MADRIAGA, NORALYN - Ok

    Uploaded by

    Kelvin Jay Sebastian Sapla
    This document contains the income statement and balance sheet for Noralyn Madriaga for the year ended December 31, 2019. The income statement shows gross sales of 173,267 PHP with net income of 252,122 PHP. The balance sheet lists total assets of 326,400 PHP, total current liabilities of 48,428 PHP, and total stockholders' equity of 277,972 PHP.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd

    MADRIAGA, NORALYN - Ok

    Uploaded by

    Kelvin Jay Sebastian Sapla
    24 views3 pages
    This document contains the income statement and balance sheet for Noralyn Madriaga for the year ended December 31, 2019. The income statement shows gross sales of 173,267 PHP with net income of 252,122 PHP. The balance sheet lists total assets of 326,400 PHP, total current liabilities of 48,428 PHP, and total stockholders' equity of 277,972 PHP.

    Original Title

    MADRIAGA, NORALYN- ok.xls

    Copyright

    © © All Rights Reserved

    Available Formats

    XLS, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document contains the income statement and balance sheet for Noralyn Madriaga for the year ended December 31, 2019. The income statement shows gross sales of 173,267 PHP with net income of 252,122 PHP. The balance sheet lists total assets of 326,400 PHP, total current liabilities of 48,428 PHP, and total stockholders' equity of 277,972 PHP.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    24 views3 pages

    MADRIAGA, NORALYN - Ok

    Uploaded by

    Kelvin Jay Sebastian Sapla
    This document contains the income statement and balance sheet for Noralyn Madriaga for the year ended December 31, 2019. The income statement shows gross sales of 173,267 PHP with net income of 252,122 PHP. The balance sheet lists total assets of 326,400 PHP, total current liabilities of 48,428 PHP, and total stockholders' equity of 277,972 PHP.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 3

    quarter

    1st quarter 35,000.00


    2nd quarter 40,000.00
    3rd quarter 48,266.67
    4th quarter 50,000.00
    173,266.67
    NORALYN MADRIAGA
    INCOME STATEMENT
    For the year ended December 31, 2019
    (Amounts in Philippine Peso)

    2019
    GROSS SALES 173,267
    LESS: COST OF SALES 48,515
    GROSS INCOME 124,752
    Add: OTHER INCOME 179,000
    TOTAL GROSS REVENUE 303,752

    LESS: OPERATING EXPENSES


    Communication, Light and Water 9,900
    Depreciation 6,500
    Miscellaneous 3,500
    Rental 16,200
    Salary and Allowances 12,000
    Taxes and Allowances 1,200
    Transportation & Travel 1,800
    TOTAL OPERATING EXPENSE 51,100

    INCOME BEFORE TAX 252,652


    Less: INCOME TAX (530)
    NET INCOME 252,122

    PROVISION FOR INCOME TAX COMPUTATION ###


    Income before Income Tax
    Tax on:
    First 250,000 -
    In excess of P250,000 at 20% 530
    INCOME TAX 530

    INCOME TAX PAYABLE COMPUTATION


    Provision for Income tax 530
    Less: 2307 for the year
    tax paid 1st to 3rd Qtr -
    Income Tax Payable 530

    ###
    Certified Correct: ###
    ###
    NORALYN MADRIAGA
    Taxpayer
    NORALYN MADRIAGA
    BALANCE SHEET
    For the year ended December 31, 2019
    (Amount in Philippine Peso)

    2019

    ASSETS

    Current Assets
    Cash on Hand and in Bank 95,000
    Merchandise Inventory 65,000
    Receivable 15,450
    Total Current Assets 175,450

    Non-Current Assets
    Property and Equipment 115,500
    Other Noncurrent Asset 35,450
    Total Non-Current Assets 150,950

    TOTAL ASSETS 326,400

    LIABILITIES & OWNERS' EQUITY

    Current Liabilities
    Trade & Other Payables 47,898
    Income Tax Payable 530
    Total Current Liabilities 48,428

    Owner's Equity
    Capital Beginning 75,850
    Net Income 252,122
    Withdrawals (50,000)
    Total Stockholders' Equity 277,972

    TOTAL LIABILITIES & OWNERS' EQUITY 326,400

    You might also like