Junior Philippine Institute of Accountants

Income Statement
For the Academic Year Ended May 31, 2021

Income

JPIA Organization Fee P 11 900.00

Other Income 75.00

Gross Income P 11 975.00

Less: Expenses

Bank Service Charge P 15.00

NFJPIA Membership Fee - outstanding balance 936.00

SAS Days 2 313.00

Total Expenses P 3 264.00

Net Income P 8 711.00

 Junior Philippine Institute of Accountants
Statement of Changes in Cash Flows
For the Academic Year Ended May 31, 2021

Beginning Cash Balance P 3 128.00

Add: Net Income 8 711. 00

Ending Cash Balance P 11 839.00

 Junior Philippine Institute of Accountants
Statement of Cash Flows
For the Academic Year Ended May 31, 2021

Cash Inflows

JPIA Organization Fee P 11 900.00

NFJPIA Membership Fee – Excess Payment 75.00

Total Inflows P 11 975.00

Cash Outflows

Bank Service Charge P 15.00

NFJPIA Membership Fee - outstanding balance 936.00

SAS Days 2 313.00

Total Outflows P 3 264.00

Net Cash Flows P 8 711.00

Add: Beginning Balance, December 08, 2020 3 128.00

Cash Balance P 11 839.00

 Junior Philippine Institute of Accountants

Notes to Financial Statement

Note 1 Other Income

Other income amounting to P 75.00 represents the payment for NFJPIA Membership fee. However, the sender failed to
identify himself thus, considered untraceable.

Note 2 SAS Days

Raffle Prizes P 500.00

Battle of the Brains Prizes
1st place P 700.00
2nd place 500.00
3rd place 300.00
4th place 200.00
5th place 100.00 1 800.00
Palawan Express Fee 13.00
Total P 2 313.00
Prepared by: Reviewed by:

KRISSA VILLANUEVA CHRISTINE MAY RONCALES, CPA, MBA

VP-FINANCE JPIA ADVISER

Noted by:

KHAYYAM GABALES GRACE LOPEA, CPA, JD, RN, MBA, CRB

JPIA PRESIDENT DEAN, COLLEGE OF BUSINESS AND ACCOUNTANCY

Audited by: Approved by:

DENISE DELOS REYES DEXTER PAUL D. DIOSO, PhD, CSASS

AUDITOR DIRECTOR OF STUDENT AFFAIRS