Fundamentals of Accounting, Business and Management
(ASSESSMENT#2 SCI)
KUSKOS LAUNDRY SERVICES
STATEMENT OF COMPREHENSIVE INCOME
FOR THE MONTH ENDED JUNE, 2019
Revenue
Laundry Service Income
Total Revenue
P 240,000
P 240,000
Expenses
Salaries Expense
Rent Expense
Utilities Expense
Depreciation Expense
Bad Debts Expense
Total Expenses
P 40,000
30,000
20,000
5,000
2,000
P 97,000
Net Income
P 143,000
MR. ANG’S OFFICE SUPPLIES
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31,2018
Sales
Sales Returns and Allowances
Sales Discount
NET SALES
Cost of Goods Sold
Beginning Inventory
Purchases
Purchases Returns and Allowances
Purchase Discount
Net Purchases
Freight In
Cost of Goods Available for Sale
Ending Inventory
Php 1,485,400
(Php 13,800)
(21,660)
Php 265,000
Php 980,000
(21,800)
(19,600)
938,600
7,500
946,100
1,211,100
(332,500)
Gross Profit
General & Administrative Expenses
Salaries Expense
Rent Expense
Depreciation Expense
Utilities Expense
Miscellaneous Expense
Insurance Expense
Supplies Expense
Selling Expense
Salaries Expense-Store
Depreciation Expense
Rent Expense-Store
Utilities Expense
Net Income
(35,460)
Php 1,449,940
(878,600)
Php 571,340
( Php 138,000)
(50,000)
(31,000)
(70,000)
(7,200)
(10,000)
(9,000)
(315,200)
(Php 40,000)
(7,000)
(10,000)
(3,000)
(60,000)
Php 196,140