Net income at a glance
Glow Up Salon₱39,300Net income
Indanan Sari-Sari Store₱39,000Net income
Eco Bricks PH₱50,000Net income
All amounts are in Philippine pesos (PHP / ₱). Detail amounts appear in the middle column; statement totals appear on the right. Use your browser’s Print command to print or save as PDF.
Activity 1
Service Business
| Particulars | Detail (PHP) | Total (PHP) |
|---|---|---|
| Service Revenue | 85,000 | |
| Less: Expenses | ||
| Salaries Expense | 22,000 | |
| Rent Expense | 10,000 | |
| Supplies Expense | 6,500 | |
| Utilities Expense | 4,200 | |
| Advertising Expense | 3,000 | |
| Total Expenses | 45,700 | |
| Net Income | 39,300 |
Activity 2
Merchandising Business
| Particulars | Detail (PHP) | Total (PHP) |
|---|---|---|
| Sales | 150,000 | |
| Less: Sales Returns | 5,000 | |
| Net Sales | 145,000 | |
| Cost of Goods Sold | ||
| Merchandise Inventory, Beg. | 20,000 | |
| Purchases | 80,000 | |
| Less: Purchase Returns | 4,000 | |
| Net Purchases | 76,000 | |
| Goods Available for Sale | 96,000 | |
| Less: Merchandise Inventory, End. | 18,000 | |
| Cost of Goods Sold | 78,000 | |
| Gross Profit | 67,000 | |
| Operating Expenses | ||
| Salaries Expense | 15,000 | |
| Rent Expense | 8,000 | |
| Utilities Expense | 5,000 | |
| Total Operating Expenses | 28,000 | |
| Net Income | 39,000 |
Activity 3
Manufacturing Business
| Particulars | Detail (PHP) | Total (PHP) |
|---|---|---|
| Sales | 120,000 | |
| Less: Sales Returns | 2,000 | |
| Net Sales | 118,000 | |
| Cost of Goods Sold | ||
| Finished Goods Inventory, Beg. | 6,000 | |
| Cost of Goods Manufactured (see supporting schedule) | 57,000 | |
| Goods Available for Sale | 63,000 | |
| Less: Finished Goods Inventory, End. | 8,000 | |
| Cost of Goods Sold | 55,000 | |
| Gross Profit | 63,000 | |
| Operating Expenses | ||
| Salaries Expense | 10,000 | |
| Delivery Expense | 3,000 | |
| Total Operating Expenses | 13,000 | |
| Net Income | 50,000 |
Supporting schedule
Cost of Goods Manufactured
| Particulars | Detail (PHP) | Total (PHP) |
|---|---|---|
| Direct Materials | ||
| Raw Materials, Beg. | 5,000 | |
| Add: Raw Materials Purchased | 25,000 | |
| Raw Materials Available for Use | 30,000 | |
| Less: Raw Materials, End. | 4,000 | |
| Raw Materials Used | 26,000 | |
| Direct Labor | 18,000 | |
| Factory Overhead | ||
| Rent | 5,000 | |
| Utilities | 4,000 | |
| Depreciation | 3,000 | |
| Total Factory Overhead | 12,000 | |
| Total Manufacturing Cost | 56,000 | |
| Add: Work in Process, Beg. | 3,000 | |
| Total Cost of Goods Placed in Process | 59,000 | |
| Less: Work in Process, End. | 2,000 | |
| Cost of Goods Manufactured | 57,000 |