1. Identify a business establishment in your community. (Eg. sari-sari store, canteen, laundry, etc.

)
 LAUNDRY BUSINESS
2. Identify the different accounts that the business can use in preparing their SCI.
 Service Revenue
 Less: Expense
o Depreciation Expense: Laundry Equipment
- Washing machine
- Dryer
- Iron and iron board
- Laundry Basket
- Table
- Chair/s
o Utilities Expense
- Electric Bill
- Water Bill
o Rental Expense
o Supplies Expense
- Laundry Detergent
- Fabric Conditioner
- Laundry Bleach
o Salaries Expense
o Tax Expense
o License and Permit Expense
3. Provide hypothetical amounts.
 Service Revenue= 1,620,000.00 (annual)
 Less: Expenses
o Depreciation Expense: Laundry Equipments
- Washing machine= 30,000 (2,000.00)
- Dryer= 14,995.00 (700.00)
- Iron and iron board= 1,500.00 (90.00)
- Laundry Baskets= 300.00 (40)
- Table= 1,600.00 (150.00)
- Chair/s= 3,500.00 (300)
o Utilities Expense (annual)
- Electric Bill= 120,000.00
- Water Bill= 36,000.00
o Rental Expense= 60,000.00 (annual)
o Supplies Expense (annual)
- Laundry Detergent= 7,200.00
- Fabric Conditioner= 3,120.00
- Laundry Bleach=2,160.00
 o Salaries Expense= 120,000.00 (annual)
o Tax Expense= 48,600.00 (annual)
4. Prepare a Statement of Comprehensive Income

Laundry Shop
Statement of Comprehensive Income
For the year ended Dec. 31, 2020

Service Revenue ₱1,620,000.00

Total Revenue 1,620,000.00
Less: Expenses
Depreciation Expense: Laundry Equipments ₱3,280.00
Utilities Expense 156,000
Rental Expense 60,000.00
Supplies Expense 12,480.00
Salaries Expense 120,000.00
Tax Expense 48,600.00
Total Expenses 400,360
Net Income/Loss ₱1,219,640