Um Pad Thai

Statement of Comprehensive Income

For the Month Ended January 31, 2020

Revenues:

Service Revenue P 150000

Total revenues: P 150000

Expenses:

Kitchen and Food Supplies Expense P 93852

Salaries Expense 20000

Rent Expense 8000

Repairs and Maintenance 5500

Utilities Expense 3210

Taxes and Licenses 3000

Communication Expense 2000

Depreciation Expense 2000

Doubtful Accounts Expense 1500

Advertising Expense 1000

Interest Expense 300

Insurance Expense 200

Miscellaneous Expense 450

Total: (141012)

Net Income: P 8988

 Um Pad Thai

Statement of Changes in Owner’s Equity

For the month Ended January 31, 2020

Padum, Capital 1/1/2020 P 190000

Net income: P 8988

Padum, Withdrawals (10000)

P 188988
 Um Pad Thai

Statement of Financial Position

January 31, 2020

Current Assets:

Cash P302440

Accounts receivable 30000

Kitchen and Food Supplies 6548

Prepaid Rent 8000

Prepaid Insurance 2200

Total current assets: P 349188

Non-current Assets:

Kitchen Equipment P 120000

Allowance for Doubtful Accounts (2000)

Accumulated Depreciation Expense (1500)

Total non-current assets P 116500

Total: P 465688

Liabilities and Owner’s Equity

Current Liabilities:

Accounts Payable P 15400

Loans Payable 200000

Notes Payable 60000

Witholding Taxes Payable 700

SSS Premiums Payable 100

HDMF Premiums Payable 200

Philhealth Premiums Payable 300

Interest Payable 300

Total Liability P 276700

Owners’ Equity: 188988

Padum, Capital 1/31/2020 P 465688