Jordan Hardware & Construction Supply

Statement of Cost of Sales

For the year ended - December 31, 2019

Merchandise Inventory - January 1, 2019 2,980,000.00

Add: Net Cost of Purchases
Purchases 1,880,000.00
Less: Purchase Ret. & Allowances 5,900.00
Purchase Discounts 10,300.00 16,200.00
Add: Freight In 9,810.00 1,873,610.00
Total Goods Available for Sale 4,853,610.00
Less: Merchandise Inventory - December 31, 2019 1,010,000.00
Cost of Sales 3,843,610.00

Jordan Hardware & Construction Supply

Statement of Financial Performance
For the year ended - December 31, 2019

Sales 5,452,000.00
Less: Sales Return & Allowances 12,500.00
Sales Discounts 14,600.00 27,100.00
Net Sales 5,424,900.00

Less: Cost of Sales 3,843,610.00

Gross Profit from Sales 1,581,290.00

Less: Operating Expenses

Selling Expenses
Sales Salaries – Selling 188,000.00
Sales Commission – Selling 80,000.00 268,000.00

General & Admin Expenses

Office Salaries – General 160,000.00
Taxes and Licences – General 64,300.00
Rent Expense – General 176,000.00
Utilities Expense – General 140,000.00 540,300.00 808,300.00
Operating Income - EBITDA 772,990.00
Less: Tax Due - Invidual Income Tax 123,247.50
Net Income 649,742.50

Jordan Hardware & Construction Supply

Statement of Changes in J. Alegre Capital
For the year ended - December 31, 2019
J. Alegre, Capital - January 1, 2019
N. Alegre, Capital 2,382,010.00
Add: Net Income 649,742.50
Total 3,031,752.50
N. Alegre, Drawing 60,000.00
J. Alegre,Capital - December 31, 2019 2,971,752.50

Jordan Hardware & Construction Supply

Statement of Changes of Financial Position
As of - December 31, 2019

Assets
Current Assets
Cash in Bank 2,050,000.00
Accounts Receivable 185,000.00
Less: Estimated Uncollectible Accounts 4,000.00 181,000.00
Merchandise Inventory, Dec. 31, 2019 1,010,000.00
Unused Supplies 54,000.00
Total Current Assets 3,295,000.00

Non- Current Asssets

Furniture & Fixtures 1,300,000
Less:Accumulated Depreciation – Furniture & Fixture 520,000 780,000.00
Total Assets 4,075,000.00

Liabilities & Owner's Equity

Current Liabilities
Accounts Payable 980,000.00
Income Tax Payable 123,247.50
Total Current Liabilities 1,103,247.50

J. Alegre Capital - December 31, 2019 2,971,752.50

Total Liabilities & Owner's Equity 4,075,000.00

50pts
772,990.00 400,000.00 30,000.00
400,000.00 372,990.00 93,247.50
372,990.00 Tax Due 123,247.50
93,247.50

445,000.00
400,000.00 30,000.00
45,000.00 11,250.00
41,250.00
 1,500,000.00
5pts 800,000.00 130,000.00
700,000.00 210,000.00
340,000.00

www.bir.gov.ph
 Vannilla Food Processing Co.
Statement of Cost of Goods Manufactured & Sold
For the year ended - December 31, 2019

Raw Materials – Jan. 1, 2019 185,000.00

Add: Net Cost of Purchases
Purchases – Raw Materials 295,000.00
Total Raw Materials Available for Use 480,000.00
Less: Raw Materials Inventory - December 31, 2019 90,000.00
Total Cost of Raw Materials Used 390,000.00
Add:
Direct Labor 350,000.00
Overhead - Indirect Labor 285,000.00 635,000.00
Total Manufacturing Costs 1,025,000.00
Add: Work - in Process Inventory - January 1, 2019 75,000.00
Total Cost Placed in Process 1,100,000.00
Less: Work - In Process Inventory - December 31, 2019 286,000.00
Total Cost of Goods Manufactured 814,000.00
Add: Finished Goods Inventory - January 1, 2019 150,000.00
Total Goods Available for Sale 964,000.00
Less: Finished Goods Inventory - December 31, 2019 350,000.00
Cost of Goods Manufactured & Sold 614,000.00

Vannilla Food Processing Co.

Statement of Financial Performance
For the year ended - December 31, 2019

Sales 1,350,000.00
Less: Cost of Goods Manufactured & Sold 614,000.00
Gross Profit from Sales 736,000.00
Less: Operating Expenses
Taxes and Licences 84,000.00
Repairs and Maintenance 120,000.00
Light and Water 160,000.00
Office Supplies Expense 240,000.00 604,000.00
Operating Income 132,000.00
Operating Income - EBITDA -
Net Income 132,000.00

Vannilla Food Processing Co.

Statement of Statement of Detoya Owner's Equity
 For the year ended - December 31, 2019
E. Detoya Capital - January 1, 2019 1,692,000.00
Add: Net Income 132,000.00
E. Detoya Capital - December 31, 2019 1,824,000.00

Vannilla Food Processing Co.

Statement of Statement of Financial Position
As of - December 31, 2019

Assets
Current Assets
Cash in Bank 375,000.00
Petty Cash Fund 10,000.00
Accounts Receivable 65,000.00
Raw Materials ###
Goods in Process ###
Finished Goods ###
Total Current Assets 1,176,000.00

Non-Current Assets
Machinery and Equipment 380,000
Less: Accumulated Depreciation – Machinery & Equip 76,000 304,000
Office Equipment 120,000
Less: Accumulated Depreciation – Office Equipment 24,000 96,000.00
Franchise 315,000
Total Non-Current Assets 715,000.00
Total Assets 1,891,000.00

Liabilities & Owner's Equity

Current Liabilities
Accounts Payable 67,000.00

Owner's Equity
E. Detoya Capital - December 31, 2019 1,824,000.00

Total Liabilities & Owner's Equity 1,891,000.00

445000
 400000 30000
45000 11250
41250

1500000
800000 130000
700000 210000
340000