APPENDICES

B. Overhead Expenses

Overhead Expense MONTHLY ANNUALLY

Rent ₱ 10,000.00 ₱ 120,000.00
Marketing expense 1,500.00 18,000.00
LPG 1,000.00 12,000.00
Maintenance 1,000.00 12,000.00
TOTAL   ₱ 13,500.00 ₱ 162,000.00

C. Utilities Expenses

Utility Expense MONTHLY ANNUALLY

Water ₱ 200.00 ₱ 2,400.00
Electricity 1,500.00 18,000.00
TOTAL   ₱ 1,700.00 ₱ 20,400.00

D. Administrative Expenses

MONTHLY ANNUAL
POSITION NUMBER
SALARY SALARY
Manager 1 12,000.00 144,000.00
Product Worker 2 13,000.00 156,000.00
Delivery/Sales 1 7,800.00 93,600.00
Total 4 32,800.00 393,600.00
E. Fringe Benefits

13TH
PAG-
POSITION NUMBER SSS PHIL-HEALTH MONTH
IBIG
PAY
11,520.0 3,960. 2,880.0 12,000.0
Manager 1
0 00 0 0
Product 14,400.0 3,300. 3,120.0 13,000.0
2
Worker 0 00 0 0
Delivery/Sale 7,680.0 1,650. 1,872.0 7,800.0
1
s 0 00 0 0
33,600.0 8,910. 7,872.0 32,800.0
Total 4
0 00 0 0
83,182.0
0
F. Pre-operating Expenses

PARTICULARS COST
Annual Inspection ₱150.00
Business Plate 180
Garbage 900
Mayor's Permit 1,400.00
Occupation 250
Police Clearance 150
Sanitary/Medical 350
Signages 150
BIR Permit 500
DTI Premit 200
Documentary
15
Stamp
Total ₱4,245.00
G. General Journal

PARTICULARS DEBIT CREDIT

Cash 600,000.00  

, Capital   600,000.00
To record the initial investment capital.  
     
53,802.
Renovation 95  

Cash   53,802.95
To record the cost of renovation    
     
17,934.
Depreciation Expense – Renovation 32  

Accumulated Depreciation – Renovation   17,934.32

To record the depreciation expense of the    
Renovation    
     
26,000.
Machineries and equipment 00  
26,000.
Cash   00
To record the cost of machineries and
equipment    
     
2,600.
Depreciation Expense – machineries and equipment 00  
Accumulated Depreciation – machineries and 2,600.
equipment   00
To record the depreciation expense of the    
machineries and equipment    
     
18,998.
Furniture and Fixtures 00  

Cash   18,998.00
To record the cost of Furniture and Fixtures    
     
1,899.
Depreciation Expense – Furniture and Fixtures 80  
 Accumulated Depreciation – Furniture and
Fixtures   1,899.80
To record the depreciation expense of the    
Furniture and Fixtures    
     
3,297.
Supplies and Utensils 00  
3,297.
Cash   00
To record the cost of Supplies and Utensils    
     

Pre-Operating Expense 4,245.00  

Cash   4,245.00
To record pre-operating expense.    
     

Administrative expense 393,600.00  

Cash   393,600.00
To record administrative expense.    
     

Utility Expense 20,400.00  

Cash   20,400.00
To record Utility Expense    
     

Overhead Expense 162,000.00  

Cash   162,000.00
To record overhead expense.    
     

Fringe Benefits 83,182.00  

Cash   83,182.00
To record fringe benefits.    
     
2,419,200.
Cash 00  
Sales Income   2,419,200.
 00

To record the annual income of the business.    

     
1,598,400.
Cost of sales 00  
1,598,400.
Cash   00
To record the annual CoS    
H. General Ledger

Cash  
1,598,400.0
600,000.00 0
2,419,200.00 53,802.95

  26,000.00

  18,998.00

  3,297.00

  20,400.00

  4,245.00

  393,600.00

  162,000.00

  83,182.00
3,019,200.00 2,363,924.95
 
655,275.05

Renovation  
53,802.95
 

Depreciation Expense – Renovation  

17,934.32  

Accumulated Depreciation – Renovation  

  17,934.32
 

Machineries and equipment  

26,000.00
 

Depreciation Expense – machineries and equipment  

2,600.00  
 Accumulated Depreciation – machineries and
equipment  
  2,600.00
 

Furniture and Fixtures  

18,998.00
 

Depreciation Expense – Furniture and Fixtures  

1,899.80  

Accumulated Depreciation – Furniture and Fixtures  

  1,899.80
 
Supplies and Utensils  
3,297.00
 

Pre-Operating Expense  
4,245.00
 

Utility Expense  
20,400.00
 

Overhead Expense  
162,000.00
 

Administrative Expense  
393,600.00
 

Fringe Benefits  
83,182.00
 
 Sales Income  

  2,419,200.00
 

, Capital  

  600,000.00
 

Cost of sales  
1,598,400.00
 
 I. Trial Balance

Account Titles Debit Credit

Cash ₱ 655,275.05  
Renovation 53,802.95  
Depreciation Expense – Renovation 17,934.32  
Accumulated Depreciation – Renovation   ₱ 17,934.32
Machineries 26,000.00  
Depreciation Expense 2,600.00  
Accumulated Depreciation – Machineries   2,600.00
Furniture and Fixture 18,998.00  
Depreciation Expense – Renovation ₱ 1,899.80  
Accumulated Depreciation – Renovation   1,899.80
Supplies and Utensils 3,297.00  
Partners Capital   600,000.00
Sales Income   2,419,200.00
Cost of sales 1,598,400.00  
Fringe Benefits 83,182.00  
Utility Expense 20,400.00  
Overhead Expenses 162,000.00  
Pre-Operating Expenses 4,245.00  
Administrative Expense 393,600.00  
Total ₱ 3,041,634.12 ₱ 3,041,634.12