RLC COMPANY

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31,2021

NOTE1 CASH
Cash,home office P 120,000
Cash, Tacloban Branch 20,000
P 140,000

NOTE
2 ACCOUNTS RECEIVABLE,NET
Account Receivable, net home office P 160,000
Account Receivable, net home
office Receivable, net Tacloban Branch 100,000
P 260,000
NOTE
3 ENDING INVENTORY
Ending Inventory, home office P 360,000
Ending Inventory, Tacloban Branch 40,000
acquired from vendors
acquired from home office@billed price 60,000/1.25 48,000
unrecorded inv. In transit@ billed price 30,000/1.25 24,000
P 472,000
NOTE
4 FIXED ASSET,NET
Fixed Asset,home office P1,740,000
Fixed Asset, Tacloban Branch 180,000
 P
1,920,000
NOTE
5 ACCOUNTS PAYABLE
Accounts Payable, home office P442,000
Accounts Payable,Tacloban Branch 90,000
P 532,000

NOTE
6 BEGINNING INVENTORY
Beginning Inventory,home office P 460,000
Beginning Inventory,Tacloban Branch
acquired from vendors 100,000
acquired from office @ billed price 40,000/1.25 32,000
P 592,000

NOTE
7 PURCHASES
Purchases, home office P 1,600,000
Purchases,branch
purchases from vendors 240,000
P1,840,000

NOTE
8 SELLING EXPENSES
Selling Expenses,home office P 162,000
Selling Expense, branch 68,000
P 230,000

NOTE ADMINISTRATIVE EXPENSES

9
Administrative Expenses, home office P 108,000
Administrative Expenses, Tacloban Branch 32,000
P 140,000