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  • INCOME STATEMENT (CTT Exam)

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    Mharck Atienza
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    1. The income statement shows the revenues and expenses for Araceli Fortuna Figuracion for 2017 and 2018. 2. In 2017, total revenues were 17,206,521 with total expenses of 9,287,361, resulting in a gross profit of 7,919,160. After operating expenses of 3,450,018, the net income was 4,469,142. 3. In 2018, total revenues increased to 19,272,890 while total expenses grew to 10,643,210. This led to a higher gross profit of 8,629,680 and net income of 5,221,988 after operating expenses of 3,407,692.

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    1. The income statement shows the revenues and expenses for Araceli Fortuna Figuracion for 2017 and 2018. 2. In 2017, total revenues were 17,206,521 with total expenses of 9,287,361, resulting in a gross profit of 7,919,160. After operating expenses of 3,450,018, the net income was 4,469,142. 3. In 2018, total revenues increased to 19,272,890 while total expenses grew to 10,643,210. This led to a higher gross profit of 8,629,680 and net income of 5,221,988 after operating expenses of 3,407,692.

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    © All Rights Reserved
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    90 Ansichten1 Seite

    INCOME STATEMENT (CTT Exam)

    Hochgeladen von

    Mharck Atienza
    1. The income statement shows the revenues and expenses for Araceli Fortuna Figuracion for 2017 and 2018. 2. In 2017, total revenues were 17,206,521 with total expenses of 9,287,361, resulting in a gross profit of 7,919,160. After operating expenses of 3,450,018, the net income was 4,469,142. 3. In 2018, total revenues increased to 19,272,890 while total expenses grew to 10,643,210. This led to a higher gross profit of 8,629,680 and net income of 5,221,988 after operating expenses of 3,407,692.

    Copyright:

    © All Rights Reserved
    Als PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 1

    ARACELI FORTUNA FIGURACION

    Poblacion, Tuguegarao City 3500


    INCOME STATEMENT
    For the Years Ended December 31, 2017 & 2018

    2017 2018
    Gross Sales / Receipts / Revenues:
    Gross Sales From Grocery Store 14,166,924.00 15,866,954.00
    Less: Sales Returns & Allowances 12,042.00 11,900.00
    Sales Discounts 28,127.00 31,502.00
    Net Sales From Grocery Store 14,126,755.00 15,823,552.00
    From Practice of Profession 3,079,766.00 3,449,338.00
    Total Gross Receipts / Revenues 17,206,521.00 19,272,890.00

    Less: Cost of Sales & Cost of Services:


    1. Cost of Sales:
    Merchandise Inventory, beginning 4,383,372.00 4,864,517.00
    Add: Purchases 8,844,577.00 10,171,264.00
    Total Goods Available for Sale 13,227,949.00 15,035,781.00
    Less: Merchandise Inventory, ending 4,864,517.00 5,427,372.00
    Total Cost of Sales 8,363,432.00 9,608,409.00

    2. Cost of Services:
    Salaries of Engineering Staff 739,144.00 827,841.00
    Direct Materials & Supplies 138,589.00 155,220.00
    Depreciation of Engineering Equipments 46,196.00 51,740.00
    Total Cost of Services 923,929.00 1,034,801.00

    Total Cost of Sales & Cost of Services 9,287,361.00 10,643,210.00

    Gross Profit 7,919,160.00 8,629,680.00

    Less: Operating Expenses:


    Salaries & Wages 1,463,326.00 1,447,647.00
    SSS, PHIC, HDMF & EC Contributions 438,998.00 434,294.00
    Transportation Expense 153,397.00 151,754.00
    Entertainment, Amusement & Recreation 219,499.00 217,147.00
    Rental Expense 2,103.00 2,080.00
    Bad Debts Expense 420,980.00 416,469.00
    Charitable & Other Contribution 131,228.00 124,464.00
    Taxes, Permits & Licenses 50,881.00 50,335.00
    Interest Expense 37,845.00 37,440.00
    Depreciation - Store Equiupment 174,927.00 173,052.00
    Amortization Expense 49,619.00 49,087.00
    Security & Janitorial Services 128,504.00 127,127.00
    Professional Fees 178,711.00 176,796.00
    Total Operating Expenses 3,450,018.00 3,407,692.00
    NET INCOME 4,469,142.00 5,221,988.00

    Certified True & Correct: HARIETTA USAN CALIDO, CPA


    CPA Certificate № 0132447
    TIN 944-012-178-000
    ARACELI FORTUNA FIGURACION PTR № 0184442 Issued Jan. 8, 2016
    Proprietor PRC-BOA Accreditation № 5734 Issued July 8, 2015
    TIN: 207-118-827-000 Valid until Dec. 31, 2017
    BIR Acc. № 10-006312-001-2015 Iss. Dec. 2, 2015
    Valid until Dec. 31, 2017

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