INPUT DATA INTO THE YELLOW CELLS

ASSETS Beginning balanc

1.Cash and cash equivalents 700
2.Receivable from customers 0
3.Inventories 210
4.Historical cost of Fixed assets 700
Accumulated depreciation and amortization -100
TOTAL ASSETS 1510
1. The total amount from sales (NOT SUBJECT TO SCT) excluding VAT
*The total amount from sales (SUBJECT TO SCT) excluding VAT
* The percentage of the total amount paid by the customers during the quarter of sales
2. Total amount payable to domestic suppliers excluding VAT
* The percentage of the total amount paid by the customers during the quarter of purchases
3. The amount of basis for calculating import duty which is NOT SUBJECT TO SCT)
* The percentage of the basis paid during the quarter of purchases
4. Direct costs (excluding raw materials and depreciation)
5.Indirect costs attributed to selling expenses
Attributed to general & administrative expenses.
6. Depreciation of fixed assets attributed to direct cost
*Attributed to selling expenses
*Attributed to general and administrative expenses
7. Outside purchasing services cost (excluding VAT)- attributed to selling expenses
*Attributed to general and administrative expenses
*Paid during the quarter
8. Inventories at the end of the quarter
9. Monthly rate of the short-term loan
* Interest expenses - Short-term loan
* Interest of short-term loan paid during the quarter
10. Payment of short term loan principal
11. Annual rate of the long-term loan
* Interest expenses - Long-term loan
* Interest of long-term loan paid during the quarter
12. Account receivable from beginning period is paid
13. Account payable from beginning period is paid
14. Short term investment
* Paid during the quarter
15. Withdrawals of the short term investment
* Collected during the quarter
16. Disposal of a fixed asset (excluding VAT) at the end of the period
* Collected during the quarter
Net book value
The historical cost
Is the fixed asset subject to VAT? (Yes=1, No=0)
17.VAT rate (credit method)
*Percentage of VAT from importation paid in the quarter
*Percentage of VAT payable paid in the quarter
18.SCT rate
* The amount of SCT calculated from raw material purchases is allocated to goods sold.
* The percentage of SCT paid during the quarter of calculation
19.Import tariff
* The amount of import duties paid during the quarter of importation
20. CIT rate
* Paid during the quarter
21. Another tax attributed to general & administrative expenses
* Paid during the quarter
22. Capital contributions by fixed assets from shareholders at the end of the period
 YELLOW CELLS
LIABILITIES AND EQUITY Beginning balance
1.Short-term loans 710
2.Payable to suppliers 0
3. Long-term loans 300
4. Owner's equity 500

TOTAL LIABILITIES&EQUITY 1510

400
300
ring the quarter of sales 60%
555
ring the quarter of purchases 50%
NOT SUBJECT TO SCT) 0
0%
40
8
12
15
10
0
ed to selling expenses 10
0
11
305
1%
14.3
14.2
700
15%
11.25
22.5
0
0
100
100
95
95
19
20.9
18
50
1
10%
0%
 80%
50%
s allocated to goods sold. 50
80%
0%
0%
20%
0
10
10
the end of the period 800
3.1 Taxes
Output VAT 71.9
Input VAT 56.5
VAT amount payable 15.4
Output SCT amount each month 100
Deducted input SCT amount 50
SCT amount payable 50
Profit/(loss) before tax 55.45
CIT 11.09
3.2 The Income Statement of X

1. Sales 600
2. Deductions 0
Sales discounts
Sales rebates
Sales Returns
3. Net sales 600
4.Costs of goods sold 465
5. Gross profit/loss 135
6.Financial income 0
7. Financial expenses 30.55
In which: Loan interest expenses 25.55
8. Selling expenses 28
9. General and administrative expenses 22
10.Net operating profit/loss 54.45
11. Other income 19
12. Other expenses 18
13. Other profit/loss 1
14. Profit/loss before tax 55.45
15.Corporate income tax 11.09
16.Profit/loss after tax 44.36
3.3 Cash flows

Items During quarter

I.Cash inflows from: 577.9
1.Sales 462 308
2.Withdrawal of short-term investment 95 0
3. Disposal of fixed assets 20.9 0
4.Decrease in receivables from customers 0
II.Cash outflows from: 1275.27
1. Raw material purchases (domestic) 305.25 305.25
2. The imported raw material 0 0
3.Direct costs 40
4.Indirect costs 20
5.Outside purchasing services 11 0
6.Short-term loan interest 14.2 0.1
7.Long-term loan interest 22.5 -11.25
8. Short-term investment 100 0
9.VAT from importation 0
10.VAT amount payable 12.32 3.08
11.SCT amount payable 40 10
12.Import duty payment 0 0
13.CIT 0 11.09
14.Other taxes 10 0
15. Payment of short-term loan principal 700
16. Decrease in payable to suppliers 0
Increases/Decreases in cash -697.37
Beginning cash and cash equivalents 700
Ending cash and cash equivalents 2.63
3.4The Balance Sheet of X
ASSETS Opening Ending
A. SHORT-TERM ASSETS 910 626.88
I. Cash and cash equivalents 700 2.63
1. Cash 700 2.63
2. Cash equivalents
II. Short-term investments 0 0
1. Short-term Investments
2. Provision for devaluation of short-term investments
III. Accounts receivable 0 308
1. Receivable from customers 0 308
2. Prepayments to suppliers 0
3. Short-term inter-company receivables
4. Receivables according to the progress construction contracts
5. Other receivables
6. Provisions for bad debts
IV.Inventories 210 305
1. Inventories 210 305
2. Provisions for devaluation of inventories
V. Other current assets 0 11.25
1. Short-term prepaid expenses 11.25
2. VAT to be deducted
3. Taxes and statutory obligations 0
4. Other current assets
B.LONG TERM ASSETS 600 1357
I. Long-term receivables 0 0
1. Long-term receivable from customers
2. Capital from subsidiaries
3. Long-term inter-company receivable
4. Other long-term receivables
5. Provisions for bad long-term receivables
II. Fixed assets 600 1357
1. Tangible fixed asset 600 1357
Historical costs 700 1450
Accumulated depreciation -100 -93
2. Financial leasehold assets 0 0
Historical costs
Accumulated depreciation
3. Intangible fixed asset 0 0
Initial costs
Accumulated amortization
4. Construction-in-progress
III. Investment property 0 0
Historical costs
Accumulated depreciation
IV.Long-term investments 0 0
1. Investments in affiliates
2. Investment in associates, joint-ventures
3. Other long-term investments
4. Provisions for devaluation of long-term investments
V. Other long-term assets 0 0
1. Long-term prepaid expenses
2. Deferred income tax
3. Other long-term assets
TOTAL ASSETS 1510 1983.88
LIABILITIES AND OWNERS' EQUITY Opening Ending
A.LIABILITIES 1010 639.52
I. Current liabilities 710 339.52
1.Short-term debts and loans 710 10
2. Payable to suppliers 0 305.25
3. Advances from customers
4. Taxes and other obligations to the State Budget 24.17
5. Payable to employees
6. Accrued expenses 0.1
7. Inter-company payables
8. Payable according to the progress construction contracts
9. Other payables
10. Provisions for short-term payables
II. Long-term liabilities 300 300
1. Long-term accounts payable to suppliers
2. Long-term inter-company payables
3. Other long-term payable
4. Long-term debts and loans 300 300
5.Deferred income tax payables
6. Provisions for unemployment allowance
7. Provisions for long-term payables
B.OWNERS' EQUITY 500 1344.36
I.Basic owners' equity 500 1344.36
1.Capital 500 1300
2. Share premiums
3. Other sources of capital
4. Treasury stocks
5. Differences on asset revaluation
6. Foreign exchange differences
7. Business promotion fund
8. Financial reserved fund
9. Other funds
10.Retained earnings 44.36
11.Construction investment fund
II. Other sources and fund 0 0
1. Bonus and welfare fund
2. Sources of expenditure
3. Fund to form fixed assets
TOTAL LIABILITIES AND OWNERS' EQUITY 1510 1983.88
CASH FLOWS STATEMENT (Direct method)
I. Cash flows from operating activities
1. Gains from sales of goods and service provisions and other gains
2. Payments to suppliers
3. Payments to employees
4. Loan interests already paid
5. Payments for corporate income tax
6. Other gains
7. Other disbursements
Net cash flows from operating activities
II. Cash flows from investing activities
1. Purchases and construction of fixed assets and other long-term assets
2. Gains from disposal and liquidation of fixed assets and other long-term assets
3. Loan given and purchases of debt instruments of other entities
4. Recovery of loan given and disposals of debt instruments of other entities
5. Investments into other entities
6. Withdrawals of investments in other entities
7. Receipts of loan interests, dividend and profit shared
Net cash flows from investing activities
III.Cash flows from financing activities
1. Gains from stock issuance and capital contributions from shareholders
2. Repayments for capital contributions and repurchases of stocks already issued
3. Short-term and long-term loan received
4. Loan principal amounts repaid
5. Payments for financial leasehold assets
6. Dividend and profit already paid to the owners
Net cash flows from financing activities
Net cash flows during the year
Cash and cash equivalent at the beginning of the period
Effects of fluctuations in foreign exchange rates
Cash and cash equivalent at the end of the period

CASH FLOWS STATEMENT (Indirect method)

I. Cash flows from operating activities
1. Profit/ (loss) before tax
2. Adjustments
Depreciation of fixed asset
Provisions
Gain/ (loss) from foreign exchange differences
Gain/ (loss) from investing activities
Loan interest expenses
3. Operating profit before changes of working capital
Increase/ (decrease) of accounts receivable
Increase/ (decrease) of inventories
Increase/ (decrease) of accounts payable (excluding loan interests and CIT)
Increase/ (decrease) of prepaid expenses
Loan interests already paid
Corporate income tax already paid
Other gains
Other disbursements
Net cash flows from operating activities
(Other parts are the same as those of the direct method)
 462
-316.25
-60
-36.7
0

-62.32
-13.27

20.9

-100
95

15.9

-700

-700
-697.37
700

2.63

55.45

25

4
25.55
110
-308
-95
317.95
 -36.7
0

-1.52
-13.27