CHAPTER V

BUSINESS REQUIREMENTS

A. INITIAL INVESTMENTS

Table 4. Pre- Operating Expenditure

A.1 PRE-OPERATING EXPENDITURE

Table 5 – 1: Pre-operating expenses

Particulars Amount

Lease Improvements ₱185,196

Rent expense 180,000

Recruitment and training of staff before opening, 50,000

Purchase of machinery and equipment 471,250

Purchase of offices supplies 8,506

Purchase of office equipment 40,629

Purchase of cleaning equipment 20,810

Purchase of cleaning supplies 92,695

Furniture and Fixtures 64,500

Advertising expense 30,245

Regulatory expense 12,030

Utility expense 8,922

Computer software (QuickBooks) 900

Transportation expense 3,000

TOTAL ₱1,168,673
A.2 CONTRIBUTIONS/INVESTMENTS

Table 5 – 2: Contribution of partners

Partners Amount Source of Capital

Sanilyn Domingo ₱400,000 Personal Savings and Salary

Kiever Faires Lloren ₱400,000 Personal Savings and Salary

Maria Cazzandra Castrodes ₱400,000 Personal Savings and Salary

Jonathan Lagutom ₱400,000 Personal Savings and Salary

Total ₱1,600,000

CLASSIFICATIONS

B. CASH ON HAND TO BE RETAINED AT THE START OF THE OPERATION

Table 5 – 3: Total Cash Retained

Cash fund for salary ₱ 50,000

Petty cash fund 50,000
Insurance: Building 20,000
Minivan 10,000
Miscellaneous 30,000
Cash Fund for cleaning supplies 30,000
Cash fund for utilities 10,000
Repairs and maintenance 30,000
Contingent fund 201,327
Total ₱ 431,317
C. STARTING INVENTORY/ COST OF SERVICE

The company’s quantity of a product in stock at the start of an accounting period

such as a month or a year. The total starting Inventory/Manufacturing cost required

capital for its start-up operation is presented in the table below. The presented

starting inventory is good for 100 – 130 services.

Table 5 – 4: STARTING INVENTORY/COST OF SERVICE

Starting inventory
Supplies quantity amount
Detergents
Dishwashing liquid 50 liters 6,000
Laundry soap 680 bars 2,550
Washing powder 140 kilos 6,300
Liquid cleaner 20 liters 13,230
fragrance 30 gallons 8,850
Toilet bowl cleaner 30 gallons 8,850
Abrasive
Powder cleanser (borax) 25 kg 3,500
Disinfecting cleaners 30 gallons 8,820
Baking soda 25 kg 1,125
Degreasers
Window cleaner solution 30 gallons 5,850
Kitchen degreaser 20 gallons 10,380
Household wash degreaser 5 gal 1,345
Acids
bleach 20 gallons 3,100
Muriatic acid 10 gallons 2,710
Other cleaning agents
alcohol 30 gallons 5,670
Germ bacteria sanitizer (gun solution) 15 gallons 3,600
Furniture Polish for wood 1 gal 815
Total 92,695
Table 5 – 5: Cost of service
Standard allocation basis of cleaning supplies and equipment costs

CLEANING CHEMICALS
Supplies Quantity Cost
Detergents
Dishwashing liquid 500 ml 70 php
Laundry soap 5 bars 25 php
Washing Powder 1 kilo 50 php
Liquid Cleaner 150 ml 100 php
Fragrance 500 ml 50 php
Toilet bowl Cleaner 500 ml 50 php
Abrasive
Powder cleanser (borax) 100 grams 20 php
Disinfecting Cleaner 500 ml 50 php
Baking Soda 100 grams 20 php
Degreaser
Window Cleaner Solution 500 ml 30 php
Kitchen degreaser 300 ml 50 php
Household Degreaser 200 ml 20 php
Acids
Bleach 300 ml 20 php
Muriatic Acid 100 ml 10 php
Others cleaning agents
Germ bacteria sanitizer (gun solution) 150 ml 20 php
(concentrated)
Alcohol 500 ml 40 php
Wood polish 15 ml 5 php
EQUIPMENT CHARGES
Vacuum 2 20 php
Pressure cleaner 1 20 php
Heavy Duty Floor Machine 2 20 php
Mop 2 10 php
Ladder 1 5 php
Washing machine 1 10 php
Electric knapsack sprayer 1 100 php
Cleaning Supplies Charges
Sponges 2 5 php
Empty Galloons 15 30 php
Fiber Clothes (reusable) 5 5 php
Toilet Brush 1 5 php
Cleaning Gloves 5 pairs (reusable) 5 php
Garbage Bags 5 pieces (large) 25 php
 Table 5 – 6: House cleaning cost

HOUSE CLEANING
CLEANING CHEMICALS
Supplies Quantity Amount PACKAGE 1:
Detergents Floor Area (40 sq m Below),
Dish Washing Liquid 500 ml 70 php Lot Area (60 sq m Below)
Laundry Soap 5 bars 25 php Cost
Cleaning Chemicals P 470.00
Washing Powder 1 kilo 50 php
Equipment charges 85.00
Liquid Cleaner 150 ml 100 php
Cleaning supplies charges 75.00
Fragrance 500 ml 50 php
Transportation cost 100.00
Toilet bowl Cleaner 500 ml 50 php
Service Charge 700.00
Abrasive
Borax 100 gms 20 php TOTAL P1,430.00
Disinfecting Cleaner 500 ml 50 php
Baking Soda 100 gms 20 php
Degreasers PACKAGE 2:
Window Cleaner Solution TOTAL 30 php Floor Area (41 sq m - 250 sq m),
Kitchen Degreaser 300 ml 50 php Lot Area (61 sq m - 300 sq m)
Household Degreaser 200 ml 20 php
Cost
Acids
Cleaning Chemicals P700.00
Bleach 20 php
Equipment charges 85.00
Muriatic Acid 10 php
Cleaning supplies charges 75.00
Others
Transportation cost 100.00
Wood Polisher 15 ml 5 php
Service Charge 900.00
TOTAL 470 php
EQUIPMENT CHARGES
Vacuum 20 php TOTAL P 1,860.00
Heavy Duty Floor Machine 20 php
Pressure Cleaner 20 php
Mop 10 php PACKAGE 3:
Washing Machine 10 php Floor Area (251 sq m- Above,
Ladder 5 php Lot Area (300 sq m Above)
TOTAL 85 php Cost
Cleaning Chemicals P900.00
Cleaning Supplies Charges
Equipment charges 85.00
Fiber Clothes 5 php
Cleaning supplies charges 75.00
Toilet Brush 5 php
Transportation cost 100.00
Cleaning Gloves 5 php
Service Charge 1,100.00
Sponges 2 pcs 5 php
Garbage Bags 25 php TOTAL P 2,260.00
Empty Galloons 15 pcs 30 php
TOTAL 75 php
 Table 5 – 7: Deep Cleaning Cost

DEEP CLEANING
CLEANING CHEMICALS
Supplies Quantity Amount PACKAGE 1:
Detergents Floor Area (40 sq m Below),
Dish Washing Liquid 500 ml 70 php Lot Area (60 sq m Below)
Laundry Soap 5 bars 25 php Cost
Cleaning Chemicals P 530.00
Washing Powder 1 kilo 50 php
Equipment charges 85.00
Liquid Cleaner 150 ml 100 php
Cleaning supplies charges 75.00
Fragrance 500 ml 50 php
Transportation cost 100.00
Toilet bowl Cleaner 500 ml 50 php
Service Charge 700.00
Abrasive
Borax 100 gms 20 php TOTAL P1,490.00
Disinfecting Cleaner 500 ml 50 php
Baking Soda 100 gms 20 php
Degreasers PACKAGE 2:
Window Cleaner Solution 500ml 30 php Floor Area (41 sq m - 250 sq m),
Kitchen Degreaser 300 ml 50 php Lot Area (61 sq m - 300 sq m)
Household Degreaser 200 ml 20 php
Cost
Acids
Cleaning Chemicals P790.00
Bleach 300ml 20 php
Equipment charges 85.00
Muriatic Acid 100ml 10 php
Cleaning supplies charges 75.00
Others
Transportation cost 100.00
Alcohol 500ml 40 php
Service Charge 900.00
Gun Solution 150ml 20 php TOTAL P 1,950.00
Wood Polish 15ml 5 php
TOTAL 530 php
EQUIPMENT CHARGES PACKAGE 3:
Vacuum 20 php Floor Area (251 sq m- Above,
Heavy Duty Floor Machine 20 php Lot Area (300 sq m Above)
Pressure Cleaner 20 php Cost
Cleaning Chemicals P1,000.00
Mop 10 php
Equipment charges 85.00
Washing Machine 10 php
Cleaning supplies charges 75.00
Ladder 5 php
Transportation cost 100.00
Electric knapsack sprayer 100 php
Service Charge 1,100.00
TOTAL 185 php
Cleaning Supplies Charges
Fiber Clothes 5 php TOTAL P 2,360.00
Toilet Brush 5 php
Cleaning Gloves 5 php
Sponges 5 php
Garbage Bags 25 php
Empty Galloons 30 php
TOTAL 75 php
 Table 5 – 8: Office Cleaning Cost

OFFICECLEANING
CLEANING CHEMICALS
Supplies Quantity Amount PACKAGE 1: (50 sq m Below)
Detergents Cost
Washing Powder 1 kilo 50 phpCleaning Chemicals P 370.00
Liquid Cleaner 150 ml 100php Equipment charges 55.00
Fragrance 500 ml 50 phpCleaning supplies charges 75.00
Toilet bowl Cleaner 500 ml 50 phpTransportation cost 100.00
Abrasive Service Charge 300.00
Disinfecting Cleaner 500 ml 50 php TOTAL P 900.00
Baking Soda 100 gms 20php Additional Charges for Sanitation P200.00

Degreasers PACKAGE 2: (51 sq m - 150 sq m)

Window Cleaner Solution 500ml 30 php Cost
Household Degreaser 200 ml 20 php Cleaning Chemicals P 500.00.00
Acids Equipment charges 55.00
Bleach 300ml 20php Cleaning supplies charges 75.00
Muriatic Acid 100ml 10php Transportation cost 100.00
Service Charge 600.00
TOTAL 370 php TOTAL P 1,330.00
Additional Charges for Sanitation P 250.00

EQUIPMENT CHARGES PACKAGE 3: (151 sq m- Above)

Vacuum 20 php Cost
Heavy Duty Floor Machine 20 php Cleaning Chemicals P 700.00.00
Mop 10 php Equipment charges 55.00
Ladder 5 php Cleaning supplies charges 75.00
TOTAL 55 php Transportation cost 100.00
Cleaning Supplies Charges Service Charge 900.00
Sponges 5 php TOTAL P 1,830.00
Empty Galloons 30 php
Additional Charges for Sanitation P 300.00
Fiber Clothes 5 php
Toilet Brush 5 php
Cleaning Gloves 5 php
Garbage Bags 25 php
TOTAL 75 php
Table 5 – 9: Sanitation Cleaning Cost

SANITATION CLEANING
CLEANING CHEMICALS
Supplies Quantity Amount PACKAGE 2:
Other Cleaning Agents Floor Area (41 sq m - 250 sq m),
Lot Area (61 sq m - 300 sq m)
Alhohol 500 ml 40 php Cost
Gun Solution 150 ml 20 php
Other Cleaning Agents P 100.00
TOTAL 60 php
Equipment Charges 100.00
EQUIPMENT CHARGES Transportation cost 100.00
Supplies Amount Service Charge 700.00
Sprayer 100 php
TOTAL P1,000.00
PACKAGE 1:
Floor Area (40 sq m Below),
Lot Area (60 sq m Below) PACKAGE 3:
Floor Area (251 sq m- Above),
Cost Lot Area (300 sq m Above)

Other Cleaning Agents P 60.00 Cost

Equipment Charges 100.00
Transportation cost 100.00 Other Cleaning Agents P 150.00
Service Charge 500.00 Equipment Charges 100.00
Transportation cost 100.00
TOTAL P760.00 Service Charge 900.00
Credit price: (+10%) P836.00
TOTAL P1,250.00
Table 5 – 10: Kitchen Cleaning cost

KITCHEN CLEANING
CLEANING CHEMICAL
DETERGENTS PACKAGE 1
Supplies Quantity Amount Kitchen Area: 15 x 20 sq. m below
Dishwashing Liquid 300 ml 50 php Cost
Liquid Cleaner 150 ml 100 php Cleaning Chemical P 290.00
ABRAISIVE Equipment Charges 55.00
Disinfecting Cleaners 500 ml 50 php Cleaning Supplies Charges 70.00
Baking Soda 100 grms 20 php Transportation cost 100.00
Service Charge 300.00
DEGREASERS TOTAL P 815.00

kitchen Degreaser 300 ml 50 php PACKAGE 2

ACIDS Kitchen Area: 16 x 21 sq m – 25 x 30
Bleach 300 ml 20 php sq m
TOTAL 290 php Cost
EQUIPMENT CHARGES Cleaning Chemical P 430.00
Vacuum 20 php Equipment Charges 55.00
Heavy Duty Floor Machine 20 php Cleaning Supplies Charges 70.00
Mop 10 php Transportation cost 100.00
Ladder 5 php Service Charge 600.00
TOTAL 55 php TOTAL P 1,255.00

CLEANING SUPPLIES CHARGES PACKAGE 3

Fiber Clothes 5 php Kitchen Area: 26 x 31 sq. m above
Cleaning Gloves 5 php Cost
Sponge 2 pcs 5 php Cleaning Chemical P 580.00
Garbage Bag 5 pcs 25 php Equipment Charges 55.00
Empty Galloons 15 pcs 30 php Cleaning Supplies Charges 70.00
Transportation cost 100.00
Service Charge 900.00
TOTAL 70 php TOTAL P
1,705.00
D. PROPERTY, PLANT, AND EQUIPMENT

Table 5 – 11: Property, Plant and Equipment

Name Function QTY. EST. Unit Total Total
Useful cost cost Depreciation
life
EQUIPMENT
Vacuum remove dirt from 4 5 yrs. 3,750 15,000 3,000
Cleaner floors, upholstery,
draperies, and other
surfaces.
Pressure used to clean the 2 16 yrs. 25,300 50,600 3,162.50
Cleaner yard, carpet, to
vehicles
Heavy Duty buffing, scrubbing,
Floor Machine stripping, and
5 4 yrs. 7,400 37,000
9,250
cleaning the surface
of floors.
Mopping cleaning floors and
Combo Pack other surfaces, to 5 2 yrs. 2000 10,000
5,000
mop up dust,
cleaning materials
container use for 2 10 yrs. 150,000 300,000
30,000
Mini Van
transportation
records the
Personal purchasing receipts,
Computer
expenses and 2 4 yrs. 14,600 14,600
3,650
customers billed and
other important data.
Improve safety, 10
increase evidence 5 yrs. 1,200 12,000
Body Camera 2,400
pcs
quality,
Greenfield attached to a
electric pressurized reservoir
knapsack 2 4 yrs. 2,000 4,000
1,000
carried on the
sprayer
operator’s back. used
 to apply liquids for
sanitation
Ladder A tool that is made to
2 5 yrs. 1,875 3750
750
reach high areas
Washing it agitates your
machine clothes in soapy suds
2 5 yrs. 12,650 25,300
5,060
and water to remove
any dirt and stains

FURNITURE AND FIXTURES

Metal Drawer Input all the important
2 10 yrs. 8,500 17,000
Filing Cabinet documents.
1,700
Executive Used by the person
Desk for working
2 10 yrs. 10,000 20,000 2,000

Chair Chairs for the 15

employees and 5 yrs. 500 7,500
1,500
pcs.
clients.
Table Table for the
employees and 2 pc. 5 yrs. 4,000 8,000 1,600

clients.
Desk Chair designed for use at a
4 3 yrs. 3,000 12,000
4,000
desk in an office

OFFICE EQUIPMENT
Printer print documents by
printing, scanning 2 4 yrs. 4,000 8,000

and copying, 2,000

Telephone Used in
communicating with 2 1 yr. 1,115 2,230

clients 2,230

Cash register For cashier’s storage

1 5 yrs. 3,200 3,200 640
drawer of money collection
Electric Stand Produce airflow
Fan 2 pc 4yrs 1,500 3,000
750
 Water to provide easy
Dispenser access to drinking 1 pc 5yrs. 5,249 5,249
1,050
water,
Trash Can container that holds
materials that have 3 pcs 5yrs. 300 900
180
been thrown away.
Air condition controlling
temperature, humidity
1 pc 5yrs. 14,000 14,000
2,800
and airflow inside the
rooms
Fire Use to cool burning
extinguishers heat, smother fuel or
remove oxygen so 1 5 1,800 1,800
360
the fire cannot
continue to burn.
Fire alarm
1 5 2,250 2,250
450

OTHER CLEANING SUPPLIES

Yellow For wiping dirty 10
dusters/micro 95 950
surfaces
fiber cloths pcs

Toilet Bowl Cleaning each

Brush & surface of the toilet 5 pcs 115 575
Holder

plastic caddy carry cleaning

5 pcs 196 980
equipment.
Empty Bottles dispensing cool
cleaners, cosmetics, 475
(different 2 950
sizes) and chemical pcs
specialties.

Scoop dust and

3 pcs 65 195
Dustpan garbage
Cleaning Makes nasty cleaning
set 2000
gloves jobs more tolerable
Scrub Suit It is worn during 10
979 9790
cleaning
pcs
Lambswool it helps to absorb dirt
5 pcs 249 1,245
Dusters from surface.
Brooms sweeping walls of
cobwebs and spiders, 5 pcs 85 425

and floors
Sponges Washing plates 200
3 600
pcs

Garbage Bag To contain solid 62

50 3,100
waste
pack

CLEANING SUPPLIES

Detergent

Toilet Bowl capable of removing

Cleanser dirt, rust, and slime 30
from tiles, urinals, 295 8,850
gal.
grouts, and toilet
bowls.
Dishwashing removing food from
50
Liquid used dishes and 120 6,000
liters
tableware.

Offer brilliant cleaning

140
and excellent 45 6,300
Washing
fragrance kg.
Powder

Laundry Soap Use for cleaning dirty 150

3.75 2,550
clothes.
bars

Fragrance to impart a pleasant 30

295 8,850
odor,
gal

Liquid or washable hard 70

Cleaner 189 13,230
surfaces.
liters

Abrasive
Powder remove dirt and 25
Cleanse stains from hard 140 3,500
(borax) kg.
surfaces
 Disinfecting kills germs on 30
Cleaner 294 8,820
surfaces or objects
gal.

remove tough stains,

eliminate foul odors,
Baking Soda
25
and clean difficult
45 1,125
areas like the oven, kg.
microwave, and tile
grout
Degreasers

Window removes away dirt

Cleaner 30
and grime, providing
Solution 195 5,850
shiny surfaces extra gal.
sparkle
Kitchen to dissolve grease 20
Degreaser and oil from hard 519 10,380
gal.
surfaces.
Household Ideal for household
wash cleaning 5 gal 269 1,345
degreaser

Acids
Bleach effective in killing 20
bacteria, fungus and 155 3,100
gal.
viruses
Muriatic Acid It can break down
hard to remove stains
and sanitize the 10
treated surfaces. 271 2,710
gal.

Other Cleaning Agents

Ethel Alcohol 70% cleaning
30gal
solutions
189 5,670
disinfectants and .
antiseptics
 Germ/ For sanitation
bacteria cleaning 15gal
sanitizer /Gun 240 3,600
Cleaner .
Solution

Furniture protect, and shine

Polish for wooden furniture. 1 gal 815 815
Wood

Table 5 – 12: Leasehold Improvements

Particulars Amount
Restroom ₱10,000
Paint 5,000
Ceilings 8,500
Decorations 5,000
Walls 10,000
Floor Replacements (Tiles) 5,000
Light Settings 4,000
Sinks 2,500
Reception Area 10,000
Office 6,000
Electrical 5,000
Plumbing Additions 10,000
Installing a coffee center for employees 25,000
Shelving and Countertops 15,000
Partitioning 24,000
Built-in displays 20,000
Installing retail counters 17,500
CCTV 2,696
Total ₱185,196
Table 5 – 13: MANPOWER REQUIREMENTS
Position Job Description
General • oversees team members in a •
certain department to ensure
Manager
it performs effectively.
• training employees, creating
and implementing business
strategies, and delegating
tasks to team members
Housekeeper • responsible for cleaning and
reporting any safety hazards
to the homeowner or
manager in charge.
Job Specification
Bachelor’s degree in
business, management, or a
related field.
• More education or experience
may be preferred or required.
• Strong understanding of
business management,
financial, and leadership
principles.
• Excellent communication,
interpersonal, leadership,
coaching, and conflict-
resolution skills.
• Time and project
management skills.
• Ability to analyze processes
and information, identify
problems and trends, and
develop effective solutions
and strategies.
• Commitment to providing
exceptional service to
customers and support to
staff members.
• NCII Passer related to
housekeeping
• At least 18 years old
• No criminal record
 • They must complete tasks
like vacuuming, sweeping,
emptying trash cans, dusting
shelves, cleaning windows,
and mopping floors. Some
Housekeepers change
linens, wash dishes, and do
light ironing and laundry.
• Drives company equipment
or minivan for service
delivery
• Maintenance of equipment
and machinery
• Audits the inventory
Customer • works with clients who have
complaints, orders, or
Services
require information about
products/services purchased
from the organization.
• provide solutions that fit
those individualized
situations and prioritize the
customers' needs at each
step of the process.
Cashier • Collects payments by
accepting cash, check, or
charge payments from
customers and makes
changes for cash customers.
• Strong integrity, responsible,
quick respondent, trustworthy,
polite.
• At least a high school
graduate
• Diligent
• With at least a non-pro
driver’s license
• College graduate in a related
field
• know how to use modernized
computer
• Good communication skills
• Patient
• Very responsive in its task
• “People-first” attitude
• professionalism
• High school diploma or
equivalent.
• Customer service or cashier
experience.
• Ability to handle transactions
accurately and responsibly.
 • Balances cash drawer by
counting cash at the
beginning and end of the
work shift
Bookkeeper • oversee a company's
financial data and
compliance by maintaining
accurate books on accounts
payable and receivable,
payroll, and daily financial
entries and reconciliations.
• perform daily accounting
tasks such as monthly
financial reporting, general
ledger entries, and record
payments and adjustments.
• Audit the assets and
accounting records if there is
deterioration or stealing.
• Audit the company’s
equipment and machinery
• Basic math and computer
skills.
• Ability to stand, walk, lift
heavy items, and work with
other team members in a fast-
paced environment to provide
excellent service.
• Attention to detail.
Helpful, courteous approach
to resolving complaints.
• Basic accounting knowledge
• Understanding accounting
best practices
• Knowledge of IFRS, U.S
GAAP, or another accounting
framework
• Data entry skills
• High attention to detail
• Proficiency in Microsoft Excel
• Produce work with a high
level of accuracy
• Professionalism and
organization skills
• Associate degree or at least
one year of experience
• Knowledge of XERO,
Quickbooks, Zoho,
FreshBooks, or other
applications
 Security • securing premises and
personnel by patrolling
Guard/
property, monitoring
inspector
surveillance equipment, and
inspecting buildings and
equipment.
• Ensure that guests sign in
upon arrival and exit.
• Contact the relevant
authorities if a crime is
committed or an accident
occurs.
• Report to supervisors on a
regular basis.
• Record any suspicious
activities to the supervisor.
• supervises and inspects the
things of the employees.
A high school qualification or
equivalent.
• A qualification in security
training.
• Basic first aid skills would be
advantageous.
• Physical strength and fitness.
• Prior experience as a Security
Guard would be
advantageous.
• Attention to detail.
• educated and possess a
relevant certificate in any
course related to security.
• intelligent and smart.
• Honest
• Responsible and Polite

E. OPERATING EXPENSE
Tables 5 – 14: Operating expenses
i. Rent Expense
MONTHLY ANNUALLY
RENT EXPENSE
10,000 120,000

ii. Utility Expense

Particulars Amount
Electricity SOCOTECO II 2,679
Water Water District 2,245
Internet PLDT 2,299
Load allowance ALL networks 1,699
Total 8,922
 iii. Taxes and Licenses

Particulars AMOUNT
Mayor’s Permit ₱5,000

Barangay Business Clearance ₱200

Department of Trade and Industry (DTI Registration) ₱500

Bureau of Internal Revenue (BIR Certificate) ₱600

Official Receipt Printing ₱2,000

Garbage/ Waste Fee ₱1,200

Security and Exchange Commission ₱2,530

Total ₱12,030

iv. Salaries Expenses

Employees Salary
Position Salary SSS PHIC Pag- Total Annual Total Total
3.6% 2.75 IBIG Cont. fringe month Salary
% 2%
General Manager 15,000 540 412 300 1,252 1,252 13,748 164,976
Housekeeper 8,000 288 220 160 668 668 7,332 87,984
Customer Services 8,360 300 230 167 697 697 7,663 91,956
Cashier 8,000 288 220 160 668 668 7,332 87,984
Bookkeeper 8,360 300 230 167 697 697 7,663 91,956
Security Guard/ Inspector 8,000 288 220 160 668 668 7,332 91,956
TOTAL 55,720 2004 1532 1114 4,650 4,650 51,070 616,812

v. Depreciation Expense
Depreciation Annual
Particulars Total Cost Scrap Value
Cost Deprecation
Equipment 472250 63272.50 408977.50 51857.84
Furniture and fixture 64,500 10800.00 53700.00 8476.66
Office equipment 40629 10460.00 30169.00 6446.30
Leasehold Improvement 185196 13129.61 172066.39 11945.51
vi. Repair and Maintenance

ITEMS Monthly AMOUNT

Fluid monitoring 1,000 12,000
Lubrication 1,000 12,000
Minor parts replacement 2,500 30,000
Regular cleaning of air-
1,000 12,000
conditioning units
TOTAL 5,500 66,000

vii. cleaning supplies expense

Supplies Monthly Annually
Detergents 45,780 549,360
Abrasive 13,445 161, 340
Degreaser 17,575 210,900
Acids 5,810 69, 720
Other Cleaning agents 10,085 121,020
Total 92,695 881,280

viii. Insurance
Particulars Monthly Annually
Building 5,000 60,000
Mini Van 500 6,000
TOTAL 5,500 66,000

ix. Office Stationery and Supplies

Particulars Unit Cost Quantity Amount
Paper 215 4 reams 860
Pens 10 15 pcs 150
Markers 20 10 pcs 200
Printer ink 80 15 pcs 1,200
Envelopes 4 50 pcs 200
Tape 16 5 pcs 80
Scissors 50 5 pcs 250
Blank receipts 23 6 pads 138
Staplers 100 5 pcs 500
 Calculator 150 2 pcs 300
ledger 120 5 pcs 600
pencils 10 5 pcs 50
organizers 435 2 pcs 870
Clips and pins 260 1 box 260
Portable External hard drive 1500 1 pc 1500
Stamps 50 1 50
Bulletin board (40x60) 200 1 200
Note pads 75 2 pads 150
Folder 5 30 pcs 150
puncher 80 2 pcs 160
Health kit 319 2 box/set 638
Total 3722 8,506

x. Advertising expense
Particulars Cost
Social media advertisement yearly 2,500
Website advertisement 149/month 745
Fliers 1000 pcs, 20/pc 20,000
Editor 5,000
Business cards 100 pcs, 20/pc 2,000
Total 30,245

xi. Other cleaning supplies

Cleaning supplies Monthly Annually

Yellow dusters/microfiber cloths 950 11,400
Toilet Bowl Brush & Holder 575 6,900
plastic caddy 980 11,760
Empty Bottles (Different sizes) 950 11,400
Dustpan 195 2,340
Cleaning gloves 2000 24,000
Scrub Suit 9790
Lambswool Dusters 1,245 14,940
Brooms 425 5,100
Sponges 600 7,200
Garbage Bag 3,100 37,200
Total 11,020 142,030
xii. Sanitary tools and supplies
Sanitary Tools and Supplies
Particulars Monthly Annually
Tissue – 12 rolls 150 1,800
Alcohol (99%) 750 ml 150 1,800
Hand washing Liquid - 250 ml 100 1,200
Soap – 2 bars 75 900
Wet Antibacterial Wipes – 3 packs 150 1,800
Bathroom cleaner kit 300 3,600
Gloves – 5 pairs 250 3,000
TOTAL COST 1175 14,100
 CHAPTER VI

ACCOUNTING POLICY, ESTIMATES, AND PERIODS

Introduction

The company applied specific principles, bases, conventions, rules, and

practices in preparing and presenting financial statements, compliance with any

specific IFRS applying to a transaction, event, or condition, and providing guidance

on developing accounting policies for other items that result in relevant and reliable

information. CLEAN FIRST follows these methods or guidelines to adhere to the rule and

generate financial statements on the following;

The financial statements have been prepared in compliance with the Philippine

Financial Reporting Standards and rules and regulations of the Philippine

Securities and Exchange Commission. The accounting policies adopted in the

preparation of financial statements have been applied on a consistent basis.

ACCOUNTING POLICIES

Cash and cash equivalent

CLEAN FIRST comprises its cash into cash on hand and cash in the bank.

As contemplated in accounting, cash includes the money and any other negotiable

instrument that is payable in money and acceptable by the bank for deposit and

immediate credit. According to standards, cash shall classify an asset as current if

when the asset is cash and cash equivalent unless it is restricted to settle a liability

for more than twelve months after the end of the reporting period.
Cost of service, CLEAN FIRST used the weighted average method to measure

the cost flow of the inventory of cleaning supplies and measured initially at cost

and subsequently measured at lower cost and net realizable value.

Property, Plant and Equipment

CLEAN FIRST used initially the cost model for the best estimate for

depreciation of the property, plant, and equipment excluded land and subsequently

measured at cost model.

Trade and other payables

According to the Philippines Financial Reporting Standard, all liabilities are

measured initially at present value and subsequently measured at amortized cost.

However, all short-term payables are measured at face value.

Investment of partners

The investment of partners is through cash basis which is measured at face

amount. Partners' contribution is 400,000 per partner totaling 1,600,000 worth of

investment.

ACCOUNTING PERIOD

CLEAN FIRST uses a Fiscal year to record its transactions starting from the

date of the operation of the business until twelve months every year and closing

its financials. Here, the accounting period is one year, i.e., from 1st April to 31st

March.
RECOGNITION OF REVENUE AND EXPENSES

The business will apply the matching principle which is an expense should

be reported in the same period in which the corresponding revenue is earned, and

is associated with accrual accounting and the revenue recognition should be

recorded during the period in which they are earned, regardless of when the

transfer of cash occurs. The business has direct costs which are the cleaning

supplies used during the operation and indirect costs such as administrative,

personnel, rent and utilities and security cost. If an expense is not directly tied to

revenues, the expense should be reported on the income statement in the

accounting period in which it expires or is used up. If the future benefit of a cost

cannot be determined, it should be charged to expense immediately.

The recognition of revenue and expenses are accrual basis. Every

transaction and other event are recognized when they occur and not received or

paid, and they are recorded and reported in the financial statements of the periods

to which they relate, which means that Clean First revenue is recognized when

they earned regardless of when they received and expense is recognized when

incurred regardless of when paid

 Table 6 – 1: CHART OF ACCOUNTS

Current assets Non-current assets Owner’s equity

Cash Cleaning equipment Partner’s, capital
Cleaning Supplies Vehicle – Mini Van Withdrawal
Accumulated Depreciation
Furniture and fixture
Leasehold Improvement
Office Equipment
Current Liabilities
-
-
-
Income statement
Service Revenue Fringe benefit expense
Rent expense Office supplies expense
Utilities expense Office equipment – depreciation expense
Repairs and maintenance Cleaning equipment – depreciation expense
Supplies expense Leasehold improvement – depreciation expense
Salaries expense Furniture and fixture – depreciation expense
Advertising expense Taxes and licenses
Insurance expense Sanitary tools and supplies expense
 CHAPTER VII

FINANCIAL ASSUMPTIONS

The business estimates the following financial assumption:

⚫ Number of initial services per month: 409 based on the survey.

⚫ All sales transaction is cash-to-cash basis.

⚫ The average price for cleaning services.

House cleaning: P1,850.00

Deep cleaning: P1,933.00

Kitchen cleaning: P1,258.00

Office cleaning: P1,353.00

Sanitation cleaning: P1,003.00

⚫ Average direct cost and revenue per service

Direct Cost Direct Revenue

House cleaning: P 950.00 P900.00

Deep cleaning: P1,033.00 P900.00

Kitchen cleaning: P658.00 P600.00

Office cleaning: P753.00 P600.00

Sanitation cleaning: P303.00 P700.00

⚫ Sales increase by 5% every year based on the demand for the services and

the survey and as a result of a customer’s good feedback.

 ⚫ 10% withdrawal of the net income in the first year and 40% of the net income

for the following years and divide it equally to the partners to mitigate cash

outflow

⚫ The depreciation method used is a straight-line method.

⚫ The 30 % Income tax due incurred this year shall be paid on or before April

15 in the subsequent year covering income for the taxable year.

⚫ Salaries will increase by 5% every year.

⚫ Operating expense – General, selling and administrative expenses (SG&A)

will increase by 5% every year except depreciation expenses, rent, utilities,

taxes and licenses and insurance expenses.

⚫ The estimated life of assets is determined by their classifications because

they serve various functions in the business.

i: Equipment
Particulars Total Cost Scrap Value Useful Life
Vacuum Cleaner 15,000 3000.00 5
Pressure Cleaner 50,600 3162.50 16
Heavy Duty Floor Machine 37,000 9250.00 4
Mopping Combo Pack 10,000 5000.00 2
Mini Van 300,000 30000.00 10
Personal Computer 14,600 3650.00 4
Body Camera 12,000 2400.00 5
Greenfield electric knapsack sprayer 4,000 1000.00 4
Ladder 3750 750.00 5
Washing machine 25,300 5060.00 5
TOTAL 472250 63272.50

ii: Furniture and Fixture

Particulars Total Cost Scrap Value Useful Life
Metal Drawer Filing Cabinet 17,000 1700.00 10
Executive Desk 20,000 2000.00 10
Chair 7,500 1500.00 5
Table 8,000 1600.00 5
Desk Chair 12,000 4000.00 3
TOTAL 64,500 10800.00
 iii: Office equipment

Particulars Total Cost Scrap Value Useful Life

Printer 8,000 2000.00 4
Telephone 2,230 2230.00 1
Cash register drawer 3,200 640.00 5
Electric Stand Fan 3,000 750.00 4
water dispenser 5,249 1050.00 5
trash can 900 180.00 5
air condition 14,000 2800.00 5
fire extinguisher 1,800 360.00 5
fire alarm 2,250 450.00 5
40629 10460.00

vi: Leasehold Improvement

Particulars Total Cost Scrap Value Useful Life

Restroom 10,000 333.33 30
Paint 5,000 500.00 10
Ceilings 8,500 340.00 25
Decorations 5,000 1000.00 5
Walls 10,000 333.33 30
Floor Replacements (Tiles) 5,000 200.00 25
Light Settings 4,000 400.00 10
Sinks 2,500 125.00 20
Reception Area 10,000 333.33 30
Office 6,000 300.00 20
Electrical 5,000 277.78 18
Plumbing Additions 10,000 333.33 30
Installing a coffee center for employees 25,000 1562.50 16
Shelving and Countertops 15,000 1875.00 8
Partitioning 24,000 1600.00 15
Built-in displays 20,000 2000.00 10
Installing retail counters 17,500 1166.67 15
CCTV 2,696 449.33 6
185196 13129.61
 CHAPTER VIII
FORECASTED FINANCIAL STATEMENTS

i. Projected Daily Revenue

Forecasted Daily Revenue

2023
Population 172,605
The average number of households 43, 151
Target market (4.38%) 1,891
Projected monthly clients 126
Services Monthly Daily Service fee Service income
orders order Direct cost Direct total Direct cost Direct revenue
revenue
House Cleaning 278 9 ₱ 950.00 ₱ 900.00 P1,850.00 P8,550.00 P8,100.00
Deep Cleaning 41 2 ₱ 1,033.00 ₱ 900.00 P1,933.00 P2,066.00 P1,800.00
Office Cleaning 22 1 ₱ 753.00 ₱ 600.00 P1,353.00 P753.00 P600.00
Kitchen Cleaning 35 1 ₱ 658.00 ₱ 600.00 P1,258.00 P658.00 P600.00
Sanitation Cleaning 33 1 ₱ 303.00 ₱ 700.00 P1,003.00 P303.00 P700.00
Total 409 14 P12,330.00 P11,800.00
Total daily revenue P24,130.00
Table 8-1: Projected Daily Revenue
ii. Forecasted Service Revenue
Number
Average service
services monthly demand Total monthly revenue of
price
months
House cleaning 278 ₱ 1,850.00 ₱ 514,300.00 12
Deep cleaning 41 ₱ 1,933.00 ₱ 79,253.00 12
Office cleaning 22 ₱ 1,353.00 ₱ 29,766.00 12
Kitchen cleaning 35 ₱ 1,258.00 ₱ 44,030.00 12
Sanitation cleaning 33 ₱ 1,003.00 ₱ 33,099.00 12
Total 409 ₱ 7,397.00 ₱ 700,448.00

2023 2024 2025 2026 2027

₱ 6,171,600.00 ₱ 6,480,180.00 ₱ 6,609,783.60 ₱ 6,741,979.27 ₱ 6,876,818.86

₱ 951,036.00 ₱ 998,587.80 ₱ 1,018,559.56 ₱ 1,038,930.75 ₱ 1,059,709.36
₱ 357,192.00 ₱ 375,051.60 ₱ 382,552.63 ₱ 390,203.68 ₱ 398,007.76
₱ 528,360.00 ₱ 554,778.00 ₱ 565,873.56 ₱ 577,191.03 ₱ 588,734.85
₱ 397,188.00 ₱ 417,047.40 ₱ 425,388.35 ₱ 433,896.11 ₱ 442,574.04
₱ 8,405,376.00 ₱ 8,825,644.80 ₱ 9,002,157.70 ₱ 9,182,200.85 ₱ 9,365,844.87
Table 8-2: Forecasted Service Revenue
 iii. Direct Cost
Monthly
services Average Direct cost
Orders MONTHLY TOTAL ANNUAL DIRECT COST
Equipment Equipment and Equipment and
and cleaning cleaning cleaning
Transportation Transportation Transportation
materials and materials and materials and
supplies supplies supplies
House
278 ₱ 236,300.00 ₱ 27,800.00 ₱ 2,835,600.00 ₱ 333,600.00
cleaning ₱ 850.00 ₱ 100.00
Deep
41 ₱ 38,253.00 ₱ 4,100.00 ₱ 459,036.00 ₱ 49,200.00
cleaning ₱ 933.00 ₱ 100.00
Office
22 ₱ 14,366.00 ₱ 2,200.00 ₱ 172,392.00 ₱ 26,400.00
cleaning ₱ 653.00 ₱ 100.00
Kitchen
35 ₱ 19,530.00 ₱ 3,500.00 ₱ 234,360.00 ₱ 42,000.00
cleaning ₱ 558.00 ₱ 100.00
Sanitation
33 ₱ 6,699.00 ₱ 3,300.00 ₱ 80,388.00 ₱ 39,600.00
cleaning ₱ 203.00 ₱ 100.00

2023 2024 2025 2026 2027

₱ 3,169,200.00 ₱ 3,327,660.00 ₱ 3,494,043.00 ₱ 3,668,745.15 ₱ 3,852,182.41
₱ 508,236.00 ₱ 533,647.80 ₱ 560,330.19 ₱ 588,346.70 ₱ 617,764.03
₱ 198,792.00 ₱ 208,731.60 ₱ 219,168.18 ₱ 230,126.59 ₱ 241,632.92
₱ 276,360.00 ₱ 290,178.00 ₱ 304,686.90 ₱ 319,921.25 ₱ 335,917.31
₱ 119,988.00 ₱ 125,987.40 ₱ 132,286.77 ₱ 138,901.11 ₱ 145,846.16
₱ 4,272,576.00 ₱ 4,486,204.80 ₱ 4,575,928.90 ₱ 4,667,447.47 ₱ 4,760,796.42
Table 8-3: Direct cost (equipment, cleaning supplies, and transportation)

iv. Direct Revenue

Services Monthly orders Average Direct revenue Total
House cleaning 278 ₱ 900.00 ₱ 250,200.00
Deep cleaning 41 ₱ 900.00 ₱ 36,900.00
Office cleaning 22 ₱ 600.00 ₱ 13,200.00
Kitchen cleaning 35 ₱ 600.00 ₱ 21,000.00
Sanitation cleaning 33 ₱ 700.00 ₱ 23,100.00

2023 2024 2025 2026 2027

₱ 3,002,400.00 ₱ 3,152,520.00 ₱ 3,310,146.00 ₱ 3,475,653.30 ₱ 3,649,435.97
₱ 442,800.00 ₱ 464,940.00 ₱ 488,187.00 ₱ 512,596.35 ₱ 538,226.17
₱ 158,400.00 ₱ 166,320.00 ₱ 174,636.00 ₱ 183,367.80 ₱ 192,536.19
₱ 252,000.00 ₱ 264,600.00 ₱ 277,830.00 ₱ 291,721.50 ₱ 306,307.58
₱ 277,200.00 ₱ 291,060.00 ₱ 305,613.00 ₱ 320,893.65 ₱ 336,938.33
₱ 4,132,800.00 ₱ 4,339,440.00 ₱ 4,556,412.00 ₱ 4,784,232.60 ₱ 5,023,444.23
Table 8-4: Direct Revenue (average charges per service)
 v. Projected Comprehensive Income
CLEAN FIRST

PROJECTED COMPREHENSIVE INCOME

2023 2024 2025 2026 2027

Total Service Revenue ₱ 8,405,376.00 ₱ 8,825,644.80 ₱ 9,002,157.70 ₱ 9,182,200.85 ₱ 9,365,844.87
Direct Cost (4,272,576.00) (4,486,204.80) (4,575,928.90) (4,667,447.47) (4,760,796.42)
Gross profit 4,132,800.00 4,339,440.00 4,426,228.80 4,514,753.38 4,605,048.44
OPERATING EXPENSES
Rent Expense ₱ 120,000.00 ₱ 120,000.00 ₱ 120,000.00 ₱ 120,000.00 ₱ 120,000.00
Utilities Expense 107,064.00 107,064.00 107,064.00 107,064.00 107,064.00
Salaries Expense 616,812.00 647,652.60 680,035.23 714,036.99 749,738.84
Fringe Benefits Expense 4,650.00 4,882.50 5,126.63 5,382.96 5,652.10
Sanitary Tools and Supplies
Expense
14,100.00 ₱ 14,805.00 15,545.25 16,322.51 17,138.64
Office stationery and Supplies 8,931.30 9,377.87 9,846.76 10,339.10
Expense 8,506.00
Cleaning Supplies Expense 881,280.00 925,344.00 971,611.20 1,020,191.76 1,071,201.35
Other cleaning supplies 142,030.00 149,131.50 156,588.08 164,417.48 172,638.35
Repair & Maintenance 66,000.00 69,300.00 72,765.00 76,403.25 80,223.41
Advertising expense 30,245.00 30,245.00 - - -
Machinery and Equipment -
Depreciation Expense
51,857.84 51,857.84 51,857.84 51,857.84 51,857.84
Office Equipment -Depreciation
Expense
6,446.30 6,446.30 6,446.30 6,446.30 6,446.30
Furniture & Fixture -
Depreciation Expense
8,476.66 8,476.66 8,476.66 8,476.66 8,476.66
Leasehold Improvement -
Depreciation Expense
11,945.51 11,945.51 11,945.51 11,945.51 11,945.51
Taxes & Licenses 12,030.00 12,030.00 12,030.00 12,030.00 12,030.00
Insurance 66,000.00 66,000.00 66,000.00 66,000.00 66,000.00
TOTAL OPEX ₱ 2,147,443.31 ₱ 2,234,112.21 ₱ 2,294,869.56 ₱ 2,390,422.02 ₱ 2,490,752.10
TOTAL INCOME ₱ 1,985,356.69 ₱ 2,105,327.79 ₱ 2,131,359.25 ₱ 2,124,331.36 ₱ 2,114,296.34
Provision of Income Tax: 30% 30% 30% 30% 30%
Income Tax Expense ₱ 595,607.01 ₱ 631,598.34 ₱639,407.77 ₱ 637,299.41 ₱634,288.90

Net Income ₱ 1,389,749.68 ₱ 1,473,729.45 ₱ 1,491,951.47 ₱ 1,487,031.95 ₱ 1,480,007.44

Table 8-5: Projection of Income Statement

Direct cost – see Table 8-3

 vi. Projected Cash Flow
CLEAN FIRST
PROJECTED CASH FLOWS
Cash Flow from Operating
Activities 2023 2024 2025 2026 2027
cash received ₱ 8,405,376.00 ₱ 8,825,644.80 ₱ 9,002,157.70 ₱ 9,182,200.85 ₱ 9,365,844.87
cash outflow from operating
Payment for Rent Expense (₱ 120,000.00) (₱ 120,000.00) (₱ 120,000.00) (₱ 120,000.00) (₱ 120,000.00)
Payment for Salaries Expense (616,812.00) (647,652.60) (680,035.23) (714,036.99) (749,738.84)
Payment for Utilities expense (107,064.00) (107,064.00) (107,064.00) (107,064.00) (107,064.00)
Payment of Repair and
(66,000.00) (69,300.00) (72,765.00) (76,403.25) (80,223.41)
Maintenance
Payment for Cleaning Supplies
(881,280.00) (925,344.00) (971,611.20) (1,020,191.76) (1,071,201.35)
Expense
Payment of Sanitary Tools and
(14,100.00) (14,805.00) (15,545.25) (16,322.51) (17,138.64)
Supplies Expense
Office stationery and Supplies
(8,506.00) (8,931.30) (9,377.87) (9,846.76) (10,339.10)
Expense
Fringe Benefits Expense (4,650.00) (4,882.50) (5,126.63) (5,382.96) (5,652.10)
Payment of Insurance Expense (66,000.00) (66,000.00) (66,000.00) (66,000.00) (66,000.00)
Payment for Registration of
(12,030.00) (12,030.00) (12,030.00) (12,030.00) (12,030.00)
the Business
Purchase of other supplies (142,030.00) (149,131.50) (156,588.08) (164,417.48) (172,638.35)
Payment for Advertising
(30,245.00) (30,245.00) - - -
Expense
Payment for Tax expense (595,607.01) (631,598.34) (639,407.77) (637,299.41) (634,288.90)
payment for cleaning materials
(4,272,576.00) (4,486,204.80) (4,575,928.90) (4,667,447.47) (4,760,796.42)
and transportation
Total Expense: -₱ 6,936,900.01 -₱ 7,273,189.04 -₱ 7,431,479.91 -₱ 7,616,442.59 -₱ 7,807,111.12
Net Cash Provided by
₱ 1,468,475.99 ₱ 1,552,455.76 ₱ 1,570,677.78 ₱ 1,565,758.26 ₱ 1,558,733.75
Operating Activities:
Investing Activities:
Purchase of Machinery and
(471,250.00) - - - -
Equipment
Purchase of Furniture and
(64,500.00) - - - -
Fixtures
Purchase of Office Equipment (40,629.00) - - - -
Cash Outlay for Leasehold
(185,196.00) - - - -
Improvement
Net Cash Provided by
-₱ 761,575.00
Investing Activities:
Finance Activities:
Partners Capital ₱ 1,600,000.00
Partners Withdrawal (138,974.97) (589,491.78) (596,780.59) (594,812.78) (592,002.98)
Total Partners Capital: 1,461,025.03 (589,491.78) (596,780.59) (594,812.78) (592,002.98)
Net Cash Provided by Finance
₱ 1,461,025.03 -₱ 589,491.78 -₱ 596,780.59 -₱ 594,812.78 -₱ 592,002.98
Activities:
Net Increase (Decrease) in
2,167,926.02 962,963.98 973,897.19 970,945.48 966,730.77
Cash
Beg. Cash Balance: 2,167,926.02 3,130,890.00 4,104,787.20 5,075,732.68
Ending Cash Balance ₱ 2,167,926.02 ₱ 3,130,890.00 ₱ 4,104,787.20 ₱ 5,075,732.68 ₱ 6,042,463.45
Table 8-6: Projection of cash flows
 vii. Forecasted Financial position
CLEAN FIRST
PROJECTED FINANCIAL POSITION
ASSETS 2023 2024 2025 2026 2027
Current Assets:
Cash ₱ 2,167,926.02 ₱ 3,130,890.00 ₱ 4,104,787.20 ₱ 5,075,732.68 ₱ 6,042,463.45
Total Current Assets ₱ 2,167,926.02 ₱ 3,130,890.00 ₱ 4,104,787.20 ₱ 5,075,732.68 ₱ 6,042,463.45
Non-Current Assets
Machinery and Equipment ₱ 471,250.00 ₱ 419,392.16 ₱ 367,534.32 ₱ 315,676.48 ₱ 263,818.64
Less: Cleaning Equipment- 51,857.84 51,857.84 51,857.84 51,857.84 51,857.84
Accumulated Depreciation
Net Book Value 419,392.16 367,534.32 315,676.48 263,818.64 211,960.80

Office Equipment 40,629.00 34,182.70 27,736.40 21,290.10 14,843.80

Less Office Equipment - 6,446.30 6,446.30 6,446.30 6,446.30 6,446.30
Accumulated Depreciation

Net Book Value 34,182.70 27,736.40 21,290.10 14,843.80 8,397.50

Furniture & Fixture 64,500.00 56,023.34 47,546.68 39,070.02 30,593.36

Less: Furniture & Fixture- 8,476.66 8,476.66 8,476.66 8,476.66 8,476.66

Accumulated Depreciation
Net Book Value 56,023.34 47,546.68 39,070.02 30,593.36 22,116.70

Leasehold Improvement 185,196.00 173,250.49 161,304.98 149,359.47 137,413.96

Leasehold Improvement- 11,945.51 11,945.51 11,945.51 11,945.51 11,945.51

Accumulated Depreciation

Net Book Value 173,250.49 161,304.98 149,359.47 137,413.96 125,468.45

Total Non-Current Assets: 682,848.69 604,122.38 525,396.07 446,669.76 367,943.45
Total Assets: ₱ 2,850,774.71 ₱ 3,735,012.39 ₱ 4,630,183.27 ₱ 5,522,402.44 ₱ 6,410,406.90
LIABILITY & PARTNER'S
EQUITY
Liabilities - - - - -
Total Liabilities - - - - -
Partner's Equity:
Partner's Capital 1,600,000.00 2,850,774.71 3,735,012.39 4,630,183.27 5,522,402.44
Withdrawal (138,974.97) (589,491.78) (596,780.59) (594,812.78) (592,002.98)
Net Income (loss) 1,389,749.68 1,473,729.45 1,491,951.47 1,487,031.95 1,480,007.44
Total Owner's Equity: 2,850,774.71 3,735,012.39 4,630,183.27 5,522,402.44 6,410,406.90
Total Liabilities and ₱ 2,850,774.71 ₱ 3,735,012.39 ₱ 4,630,183.27 ₱ 5,522,402.44 ₱ 6,410,406.90
Owner's Equity:
Table 8-7: Projection of Financial Position