Note 1: Net Sales Schedule 2018 2019

Daily Production 80 90
Multiply by : no of Days 168 288
Annual Production 13440 25804.8
Less: Spoilage 134 258.048
Total Annual Production 13,306 25,547
Multiply By: Selling Price 65 65
NET SALES 864,864 1,660,539

Note 2 : Cost of Goods Sold Schedule 2018 2019

Direct Material 1 238,870.80 458,631.94
Direct Labor 2 202,425.00 330,300.00
Factory Overhead 3 268,860.00 484,637.48
COST OF GOODS SOLD 710,155.80 1,273,569.42

Note 3: Operating Expense Schedule 2018 2019

General Expense 4 17,095.99 6,833.69
Selling Expense 5 25,200.00 43,200.00
Total Operating Expense 42,295.99 50,033.69

Note 4: Cash and Cash Equivalents Schedule 2018 2019

Cash in Bank
Cash On Hand
Total Cash and Cash Equivalents - -

Note 5: Prepaid rent Schedule 2018 2019

1 month Advance 12,000 12,000.00
1 month Deposit 12,000 12,000.00
Total Prepaid rent 24,000 24,000.00

Note 6: Supplies Schedule 2019 2020

Supplies- selling, beginning - 556.89
Add: Purchases 5,568.89 1,106.59
Total Office Supplies Available for Use 5,568.89 1,663.48
Less: Office Supplies Used 5,012.00 1,497.13
Office Supplies, End 556.89 166.35

ProductionSupplies, beginning - 62.00

Add: Purchases 620.00 1,264.80
Total Factory supplies Available for Use 620.00 1,326.80
Less: Factory Supplies Used 558.00 1,194.12
Factory Supplies, end 62.00 132.68
Total Supplies, end 618.89 299.03

Note7: Equipment 2019 2020

Book Value 21,480 21,480
Less: Accumulated Depreciation 4296 8592
Carrying Value 17,184 12,888

Note 8: Income Tax Payable 2019 2020

Income Tax 33,723.66 101,080.73
Divide by: Quarter in a year 4 4
Income Tax Payable 8,430.92 25,270.18

Note 9: Employee Benefits Payable 2019 2020

SSS 525 525
PhilHealth 100 100
PAG-IBIG 100 100
Total 725 725
Multiply by: No. of employees 3 3
Total Employee Benefits Payable 2,175.00 2,175.00
 2020 2021 2022
100 112 126
288 288 288
28901.376 32369.54112 36253.8860544
289.01 323.70 362.54
28,612 32,046 35,891
65 65 65
1,859,804 2,082,980 2,332,938

2020 2021 2022

513,667.77 575,307.90 644,344.85
330,300.00 330,300.00 330,300.00
523,627.01 567,277.70 616,148.53
1,367,594.78 1,472,885.60 1,590,793.38

2020 2021 2022

7,164.70 6,878.39 7,222.66
43,200.00 43,200.00 43,200.00
50,364.70 50,078.39 50,422.66

2020 2021 2022

- - -

2020 2021 2022

12,000.00 12,000.00 12,000.00
12,000.00 12,000.00 12,000.00
24,000.00 24,000.00 24,000.00

2021 2022 2023

166.35 160.39 131.17
1,437.60 1,151.29 1,495.56
1,603.95 1,311.69 1,626.72
1,443.55 1,180.52 1,464.05
160.39 131.17 162.67

132.68 142.28 145.82

1,290.10 1,315.90 1,342.22
1,422.78 1,458.18 1,488.03
1,280.50 1,312.36 1,339.23
142.28 145.82 148.80
302.67 276.99 311.48

2021 2022 2023

21,480 21,480 21,480
 12888 17184 21480
8,592 4,296 0

2021 2022 2023

132,553.22 168,004.79 207,516.46
4 4 4
33,138.30 42,001.20 51,879.11

2021 2022 2023

525 525 525
100 100 100
100 100 100
725 725 725
3 3 3
2,175.00 2,175.00 2,175.00
Schedule 1 : Direct Materials Schedule 2018 2019 2020
Tofu 50400 96768 108380.16
Eggs 42000 80640 90316.8
Onion 33600 64512 72253.44
Flour 7560 14515.2 16257.024
Salt 336 645.12 722.5344
Ground pepper 336 645.12 722.5344
Bread crumbs 17640 33868.8 37933.056
Ground cumin 70198.8 134781.696 150955.49952
Turmeric 16800 32256 36126.72
Total Direct Materials 238,870.80 458,631.94 513,667.77

Schedule 2: Direct Labor Schedule 2018 2019 2020

Employee Wage 300.00 300.00 300.00
Multiply by: No. of Employees 3 3 3
Salary Expense per day 900.00 900.00 900.00
Multiply by: No. of working days in a month 26 26 26
Monthly Salary Expense 23,400.00 23,400.00 23,400.00
Multiply by: Total No. of month in a year 7 12 12
Annual Salaries Expense 163,800.00 280,800.00 280,800.00
Add: Employee Benefits 2a 38,625.00 49,500.00 49,500.00
Direct Labor 202,425.00 330,300.00 330,300.00

Schedule 3:Factory Overhead Schedule 2018 2019 2020

Depreciation - Equipment 3a 4,296.00 4,296.00 4,296.00
Furniture & Fixtures 3b 4,100.00 4,100.00 4,100.00
Cleaning Supplies 3c 4,912.00 5,010.24 5,110.44
Tools and Implements 3d 2,470.00 2,519.40 2,569.79
Rent Expense 3e 84,000.00 144,000.00 144,000.00
Production Supplies 3f 620.00 1,264.80 1,290.10
Indirect Materials 3g 168,462.00 323,447.04 362,260.68
Total Factory Overhead 268,860.00 484,637.48 523,627.01

Schedule 4: General Expenses Schedule 2018 2019 2020

Office Supplies 4a 5,568.89 1,106.59 1,437.60
Advertising Expense 4b 250.00 - -
Tax and Licenses 4c 9,227.10 5,727.10 5,727.10
Feasibility Cost 4d 2,050.00 - -
Total General Expenses 17,095.99 6,833.69 7,164.70

Schedule 5 : Selling Expense 2018 2019 2020

Transporation Expense Per day 300 300 300
Multiply by : No of Delivery 12 12 12
Total 3600 3600 3600
Multiply by: No of Months 7 12 12
Total Selling Expense 25200 43200 43200
 2021 2022
121385.7792 135952.0727
101154.816 113293.39392
80923.8528 90634.715136
18207.86688 20392.810906
809.238528 906.34715136
809.238528 906.34715136
42485.02272 47583.225446
169070.15946 189358.5786
40461.9264 45317.357568
575,307.90 644,344.85

2021 2022
300.00 300.00
3 3
900.00 900.00
26 26
23,400.00 23,400.00
12 12
280,800.00 280,800.00
49,500.00 49,500.00
330,300.00 330,300.00

2021 2022
4,296.00 4,296.00
4,100.00 4,100.00
5,212.65 5,316.91
2,621.18 2,673.61
144,000.00 144,000.00
1,315.90 1,342.22
405,731.97 454,419.80
567,277.70 616,148.53

2021 2022
1,151.29 1,495.56
- -
5,727.10 5,727.10
- -
6,878.39 7,222.66

2021 2022
300 300
12 12
 3600 3600
12 12
43200 43200
Schedule 2a: Employee Benefits 2018 2019 2020
SSS 525.00 525.00 525.00
PhilHealth 100.00 100.00 100.00
PAG-IBIG 100.00 100.00 100.00
Total Monthly Contribution 725.00 725.00 725.00
Multiply by: No. of months in a year 7 12 12
Annual Contribution 5,075.00 8,700.00 8,700.00
Multiply by: No. of employees 3 3 3
Employee Benefit 15,225.00 26,100.00 26,100.00
Add: 13th month pay 23,400.00 23,400.00 23,400.00
Total Employee Benefits 38,625.00 49,500.00 49,500.00

Schedule 3a: Depreciation Equipment 2018 2019 2020

Freezer 8,090.00 8,090.00 8,090.00
Refrigerator 13,390.00 13,390.00 13,390.00
Total 21,480.00 21,480.00 21,480.00
Divided by : Useful Life 5 5 5
Depreciation Expense 4,296.00 4,296.00 4,296.00

Schedule 3b : Furniture & Fixtures 2018 2019 2020

Table 700.00 700.00 700.00
Monobloc Chair 400.00 400.00 400.00
Steel Table 3,000.00 3,000.00 3,000.00
Total: Furnitures & Fixtures 4,100.00 4,100.00 4,100.00

Schedule 3c : Cleaning Supplies 2018 2019 2020

Trash Bin 300.00 306.00 312.12
Trash Bag 1,920.00 1,958.40 1,997.57
Dishwashing Liquid (600mL) 804.00 820.08 836.48
Sponge(value pack 3pcs) 247.50 252.45 257.50
Hand soap 214.50 218.79 223.17
Tissue Paper 252.00 257.04 262.18
Toilet Cleaner 450.00 459.00 468.18
Pail 80.00 81.60 83.23
Foot Rags 80.00 81.60 83.23
Floor mop 225.00 229.50 234.09
Soft Broom 300.00 306.00 312.12
Dust Pan 39.00 39.78 40.58
Total 4,912.00 5,010.24 5,110.44

Schedule 3d: Tools and Implements 2018 2019 2020

Mixing Bowl 1,365.00 1,392.30 1,420.15
Measuring Cup 335.00 341.70 348.53
Kitchen Knife 320.00 326.40 332.93
Chopping board 450.00 459.00 468.18
TOTAL 2,470.00 2,519.40 2,569.79
Schedule 3e: Rent Expense 2018 2019 2020
Monthly Rent 12,000.00 12,000.00 12,000.00
Multiply by : No of Mos 7 12 12
Total Rent Expense 84,000.00 144,000.00 144,000.00

Schedule 3f : Production Supplies 2018 2019 2020

Hair Net 420.00 856.80 873.94
Hand Towel 100.00 204.00 208.08
Disposable Gloves 100.00 204.00 208.08
Total Production Supplies 620.00 1,264.80 1,290.10

Schedule 3g : Indirect Materials 2018 2019 2020

Package container 53,760.00 103,219.20 115,605.50
Packaging Tape 8,190.00 15,724.80 17,611.78
Sticker 100,800.00 193,536.00 216,760.32
Patty Sheet 5,712.00 10,967.04 12,283.08
Total Indirect Materials 168,462.00 323,447.04 362,260.68

Schedule 4a: Other Office and Office

supplies expense 2018 2019 2020
First Aid Kit 720.00 734.40 749.09
Fire Extinguisher 2,000.00 - -
Faber Castel Ballpen ( Black) 90.00 - 93.60
Faber Castel Ballpen (Red) 90.00 - 93.60
Valiant Record Book 204.00 208.08 212.24
Record Voucher 160.89 164.11 167.39
Receipt BIR 1,200.00 - -
Calculator 987.00 - -
Pencil 77.00 - 80.08
Sharpener 40.00 - 41.60
Total Office Suuplies 5,568.89 1,106.59 1,437.60

Schedule 4b : Advertising Expense 2018 2019 2020

Flyer 250 - -
Total Advertising Expense 250.00 - -

Schedule 4c : Tax and Licenses 2018 2019 2020

Barangay Business Clearance 250.00 250.00 250.00
Initial Tax 750.00 750.00 750.00
Mayor’s Permit 200.00 200.00 200.00
Tax Clearance 100.00 100.00 100.00
Sanitary Business Fee 100.00 100.00 100.00
Fire Inspection Fee 45.00 45.00 45.00
Cedula 6.50 6.50 6.50
Business Plate 150.00 - -
Business Permit 1,800.60 1,800.60 1,800.60
Certification Fee 100.00 100.00 100.00
Registration 500.00 - -
Documentary Stamp 50.00 50.00 50.00
Bir Registration 700.00 700.00 700.00
Name Reservation Fee 125.00 - -
Notarial Fee 1,500.00 1,500.00 1,500.00
SEC Payments 2,725.00 - -
Sanitary Inspection fee 125.00 125.00 125.00
Total Taxes and Licenses 9,227.10 5,727.10 5,727.10

Schedule 4d : Feasibility Cost 2018 2019 2020

Photocopy 400.00 - -
Printing 600.00 - -
Envelope 150.00 - -
Book Binding 900.00 - -
Total Feasibility Cost 2,050.00 - -
 2021 2022
525.00 525.00
100.00 100.00
100.00 100.00
725.00 725.00
12 12
8,700.00 8,700.00
3 3
26,100.00 26,100.00
23,400.00 23,400.00
49,500.00 49,500.00

2021 2022
8,090.00 8,090.00
13,390.00 13,390.00
21,480.00 21,480.00
5 5
4,296.00 4,296.00

2021 2022
700.00 700.00
400.00 400.00
3,000.00 3,000.00
4,100.00 4,100.00

2021 2022
318.36 324.73
2,037.52 2,078.27
853.21 870.28
262.65 267.90
227.63 232.18
267.42 272.77
477.54 487.09
84.90 86.59
84.90 86.59
238.77 243.55
318.36 324.73
41.39 42.21
5,212.65 5,316.91

2021 2022
1,448.55 1,477.52
355.50 362.61
339.59 346.38
477.54 487.09
2,621.18 2,673.61
 2021 2022
12,000.00 12,000.00
12 12
144,000.00 144,000.00

2021 2022
891.41 909.24
212.24 216.49
212.24 216.49
1,315.90 1,342.22

2021 2022
129,478.16 145,015.54
19,725.19 22,092.21
242,771.56 271,904.15
13,757.05 15,407.90
405,731.97 454,419.80

2021 2022
764.07 779.35
- -
- 97.34
- 97.34
216.49 220.82
170.74 174.15
- -
- -
- 83.28
- 43.26
1,151.29 1,495.56

2021 2022
- -
- -

2021 2022
250.00 250.00
750.00 750.00
200.00 200.00
100.00 100.00
100.00 100.00
45.00 45.00
6.50 6.50
- -
1,800.60 1,800.60
100.00 100.00
- -
50.00 50.00
700.00 700.00
- -
1,500.00 1,500.00
- -
125.00 125.00
5,727.10 5,727.10

2021 2022
- -
- -
- -
- -
- -
 Enterprise
Statement of Comprehensive Income
For the years ended 2019-2023

Notes 2019 2020 2021

Net Sales 1 864,864.00 1,660,538.88 1,859,803.55
Less: Cost of Goods Sold 2 710,155.80 1,273,569.42 1,367,594.78
Gross Income 154,708.20 386,969.46 492,208.76
Less: Operating Expenses 3 42,295.99 50,033.69 50,364.70
Net Income before Tax 112,412.21 336,935.78 441,844.06
Less: Income Tax (30%) 33,723.66 101,080.73 132,553.22
Net Operating Income 78,688.55 235,855.04 309,290.84
 2022 2023
2,082,979.97 2,332,937.57
1,472,885.60 1,590,793.38
610,094.37 742,144.19
50,078.39 50,422.66
560,015.97 691,721.53
168,004.79 207,516.46
392,011.18 484,205.07
 Tofurrific Enterprse
Partner's Equity Statement
For the years ended 2019-2023

2019 2020 2021

Beginning 150,000.00 228,688.55 278,726.15
Net Income 78,688.55 235,855.04 309,290.84
Less: Drawings - 185,817.44 235,206.80
Total Partner's Equity 228,688.55 278,726.15 352,810.20

De Leon, Beginning Capital 37,500.00 57,172.14 69,681.54

Add: Share in Net Income 19,672.14 58,963.76 77,322.71
Less: Withdrawal - 46,454.36 58,801.70
De Leon, Ending Capital 57,172.14 69,681.54 88,202.55

Aquino, Beginning Capital 37,500.00 57,172.14 69,681.54

Add: Share in Net Income 19,672.14 58,963.76 77,322.71
Less: Withdrawal - 46,454.36 58,801.70
Aquino, Ending Capital 57,172.14 69,681.54 88,202.55

Catacutan, Beginning Capital 37,500.00 57,172.14 69,681.54

Add: Share in Net Income 19,672.14 58,963.76 77,322.71
Less: Withdrawal - 46,454.36 58,801.70
Catacutan, Ending Capital 57,172.14 69,681.54 88,202.55

Dionela, Beginning Capital 37,500.00 57,172.14 69,681.54

Add: Share in Net Income 19,672.14 58,963.76 77,322.71
Less: Withdrawal - 46,454.36 58,801.70
Dionela, Ending Capital 57,172.14 69,681.54 88,202.55
3

2022 2023
352,810.20 446,892.83
392,011.18 484,205.07
297,928.55 372,439.16
446,892.83 558,658.74

88,202.55 111,723.21
98,002.80 121,051.27
74,482.14 93,109.79
111,723.21 139,664.69

88,202.55 111,723.21
98,002.80 121,051.27
74,482.14 93,109.79
111,723.21 139,664.69

88,202.55 111,723.21
98,002.80 121,051.27
74,482.14 93,109.79
111,723.21 139,664.69

88,202.55 111,723.21
98,002.80 121,051.27
74,482.14 93,109.79
111,723.21 139,664.69
 Delish Enterprise
Projected Statement of Financial Position
As of December 31, 2018 to December 31, 2022
Assets Notes 2018 2019 2020 2021
Current Assets
Cash and Cash Equivalents 197,491.57 268,984.31 355,228.83 462,496.04
Prepaid Rent 24,000.00 24,000.00 24,000.00 24,000.00
Supplies, net 618.89 299.03 302.67 276.99
Total Current Assets 222,110.46 293,283.34 379,531.50 486,773.03
Non-Current Assets
Equipments 17,184 12,888 8,592 4,296
Total Non-Current Assets 17,184 12,888 8,592 4,296
Total Assets 239,294.46 306,171.34 388,123.50 491,069.03
Liabilities and Equity
Liabilities
Income Tax Payable 8,430.92 25,270.18 33,138.30 42,001.20
Employee Benefits Payable 2,175.00 2,175.00 2,175.00 2,175.00
Total Liabilities 10,605.92 27,445.18 35,313.30 44,176.20
Equity
Tamang, Capital 57,172.14 69,681.54 88,202.55 111,723.21
Apolonio, Capital 57,172.14 69,681.54 88,202.55 111,723.21
de Peralta, Capital 57,172.14 69,681.54 88,202.55 111,723.21
Prangan, Capital 57,172.14 69,681.54 88,202.55 111,723.21
Total Equity 228,688.55 278,726.15 352,810.20 446,892.83
Total Liabilities and Equity 239,294.46 306,171.34 388,123.50 491,069.03
 2022

588,401.38
24,000.00
311.48
612,712.86

0
0
612,712.86

51,879.11
2,175.00
54,054.11

139,664.69
139,664.69
139,664.69
139,664.69
558,658.74
612,712.86
 Tofurrific Enterprise
Statement of Cash Flow
For the years ended 2019-2023

2019 2020
Net Income After Tax 78,688.55 235,855.04
Depreciation 4,296.00 4,296.00
Increase (Decrease) in Supplies (618.89) 319.86
Increase (Decrease) in Prepaid Rent (24,000.00) -
Increase (Decrease) in Income Tax Payable 8,430.92 16,839.27
Increase (Decrease) in Employee Benefits Payable 2,175.00 -
Net Cash Provided by Operating Activities 68,971.57 257,310.17

Cash Flow from Investing Activities

Purchase of Machinery and Equipment (21,480.00)
Net Cash Used in Investing Activities (21,480.00)

Cash Flow from Financing Activities

Partner's Contribution 150,000.00
Partner's Withdrawal - (185,817.44)
Net Cash Provided(Used) From Financing Activities 150,000.00 (185,817.44)

Total Cash Flow 197,491.57 71,492.74

Add: Beginning Balance - 197,491.57
Cash and Cash Equivalents 197,491.57 268,984.31
3

2021 2022 2023

309,290.84 392,011.18 484,205.07
4,296.00 4,296.00 4,296.00
(3.64) 25.69 (34.49)
- - -
7,868.12 8,862.89 9,877.92
- - -
321,451.32 405,195.76 498,344.50

(235,206.80) (297,928.55) (372,439.16)

(235,206.80) (297,928.55) (372,439.16)

86,244.52 107,267.21 125,905.34

268,984.31 355,228.83 462,496.04
355,228.83 462,496.04 588,401.38