Palbot's Barber Shop

Income Statement
For the Year Ended
2018
Service Income 1,440,000.00

Less: Operating Expense

Wages Expense 707,916.00
Advertising 10,000.00
Legal Cost 25,000.00
Utilities Expense 106,327.28
Repair and Maintainance 30,000.00
Rent Expense 120,000.00
SSS Contribution 28,776.00
Phil. Health Contribution 19,800.00
Pag-ibig Contribution 15,840.00
Equipment - Depreciation
Furniture and Fixture - Depreciation

Profit(Loss) before Income Tax 376,340.72

Income Tax 112,902.22
Net Income(Loss) 263,438.50
Palbot's Barber Shop
Income Statement
For the Year Ended
2019
1,920,000.00

821,064.00

156,329.39

120,000.00
33,594.00
21,900.00
18,360.00
37,000.00
27,000.00

684,752.61
205,425.78
479,326.83
 Palbot's Barber Shop
Statement of Finacial Position
For the Year Ended
Beg. 2018 2019
Assets:
Current Assets
Cash 1,000,000.00 310,000.00 791,340.72
Supplies 200,000.00 350,000.00
Total Current Assets 1,000,000.00 510,000.00 1,141,340.72
Non-Current Assets
Equipment 250,000.00 250,000.00
Furniture and Fixture 135,000.00

Total Non-Current Assets 385,000.00 250,000.00

Total Asset 1,000,000.00 895,000.00 1,391,340.72

Liabilities:
Income Tax Payable 112,902.22 205,425.78
Total Liabilities:
Equity:
De Leon, Capital 500,000.00 391,048.89 592,957.47
Gabon, Capital 500,000.00 391,048.89 592,957.47
Total Partners' Capital 1,000,000.00 782097.78 1,185,914.94

Total Liabilities and Capital 1,000,000.00 895,000.00 1,391,340.72

 Palbot's Barber Shop
Statement of Cash Flow
For the Year Ended
Beg 2018 2019
Cash P 1,000,000.00 310,000.00 791,340.72
1,440,000.00 1,920,000.00
Cash received from Customers
Payment for wage and other operating expenses:
Wages Expense 707,916.00 821,064.00
Advertising 10,000.00
Legal Cost 25,000.00
Utilities Expense 106,327.28 156,329.39
Repair and Maintainance 30,000.00
Rent Expense 40,000.00 80,000.00 120,000.00
SSS Contribution 28,776.00 33,594.00
Phil. Health Contribution 19,800.00 21,900.00
Pag-ibig Contribution 15,840.00 18,360.00
Supplies 200,000.00 350,000.00
Equipment 250,000.00 250,000.00
Furniture and Fixture 135,000.00

Cash Balance 310,000.00 791,340.72 940,093.33

 SSS
PAYROLL Rate/Mos. Rate/Day Employers Rate
Manager P 12,000.00 P 400.00 P 884.00
Barber 1 P 9000.00 P 300.00 P 663.00
Barber 2 P 9000.00 P 300.00 P 663.00
Barber 3 P 9000.00 P 300.00 P 663.00
Barber 4 P 9000.00 P 300.00 P 663.00
Barber 5 P 9000.00 P 300.00 P 663.00
Barber 6 P 9000.00 P 300.00 P 663.00
SSS PHIL-HEALTH
Employee's Rate Total Contribution Employee's Share
P 436.00 P 436.00 P 150.00
P 327.00 P 327.00 P 112.50
P 327.00 P 327.00 P 112.50
P 327.00 P 327.00 P 112.50
P 327.00 P 327.00 P 112.50
P 327.00 P 327.00 P 112.50
P 327.00 P 327.00 P 112.50
P 2,398.00
PHIL-HEALTH PAG-IBIG
Employers Share Total Contribution Employers Share
P 150.00 P 300.00 P 240.00
P 112.50 P 225.00 P 180.00
P 112.50 P 225.00 P 180.00
P 112.50 P 225.00 P 180.00
P 112.50 P 225.00 P 180.00
P 112.50 P 225.00 P 180.00
P 112.50 P 225.00 P 180.00
P 1,650.00 P 1,320.00
 CONTRIBUTION
Total Contribution of Employee Total Contribution of Employer
P 826.00 P 1,274.00
P 619.50 P 955.50
P 619.50 P 955.50
P 619.50 P 955.50
P 619.50 P 955.50
P 619.50 P 955.50
P 619.50 P 955.50
Total Salary
P 10,726.00
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 58,993.00
 SSS
PAYROLL Rate/Mos. Rate/Day Employers Rate
Manager P 13,500.00 P 450.00 P 994.50
Barber 1 P 10,500.00 P 350.00 P 773.50
Barber 2 P 10,500.00 P 350.00 P 773.50
Barber 3 P 10,500.00 P 350.00 P 773.50
Barber 4 P 10,500.00 P 350.00 P 773.50
Barber 5 P 10,500.00 P 350.00 P 773.50
Barber 6 P 10,500.00 P 350.00 P 773.50
SSS
Employee's Rate Total Contribution
P 490.50 P 490.50
P 381.50 P 381.50
P 381.50 P 381.50
P 381.50 P 381.50
P 381.50 P 381.50
P 381.50 P 381.50
P 381.50 P 381.50
P 2,779.50
 PHIL-HEALTH
Employee's Share Employers Share
P 162.50 P 162.50
P 125.00 P 125.00
P 125.00 P 125.00
P 125.00 P 125.00
P 125.00 P 125.00
P 125.00 P 125.00
P 125.00 P 125.00
 PAG-IBIG
Total Contribution Employers Share
P 325.00 P 270.00
P 250.00 P 210.00
P 250.00 P 210.00
P 250.00 P 210.00
P 250.00 P 210.00
P 250.00 P 210.00
P 250.00 P 210.00
P 1,825.00 P 1,530.00
 CONTRIBUTION
Total Contribution of Employee Total Contribution of Employer
P 923.00 P 1,427.00
P 716.50 P 1,108.50
P 716.50 P 1,108.50
P 716.50 P 1,108.50
P 716.50 P 1,108.50
P 716.50 P 1,108.50
P 716.50 P 1,108.50
Total Salary
P 12,073.00
P 9,391.50
P 9,391.50
P 9,391.50
P 9,391.50
P 9,391.50
P 9,391.50
P 68,422.00
Operating expense 2018
LEGAL COST
Securities and Exchange Commission

Business Name Reservation 1200.00

Registration Fee 2,600.00

Beaureu of Internal Revenue

Application of Certificate of Registration &Tin 3500.00

Anuual Registration Fee 2500.00
Documentary Stamp 100.00
Books of Accounts 300.00

Permit and Clearance

Barangay Clearance 500.00

Barangay Business Plate 1200.00
Business Permit 6,000.00
Community Tax Certificate 500.00
Mayor's Permit 4,000.00
Sanitary Permit 2,600.00
Total Initial 25,000.00

Advetisement Expense
a. Tarpulin P 2,000.00
b. Leaflets 1,000.00
c. Commercial 7,000.00
Total P 10,000.00

Furniture and Fixtures

Barber Chairs 90,000.00 5 18,000.00
Sofa 25,000.00 5 5,000.00
Mini table 20,000.00 5 4,000.00
135,000.00 27,000.00
 Useful life
Equipment
Hair clippers and guard. 10,000.00 5 2,000.00
Haircutting shears. 10,000.00 5 2,000.00
Hair brush. 10,000.00 5 2,000.00
Shaving razor. 35,000.00 5 7,000.00
Straight razor. 35,000.00 5 7,000.00
Comb. 10,000.00 5 2,000.00
Spatula. 10,000.00 5 2,000.00
Aircondition 85,000.00 10 8,500.00
Hot towel Warmer 45,000.00 10 4,500.00
250,000.00 37,000.00

Supplies
Shaving cream 40,000.00
Wet steam towels 10,000.00

Chemical wave rods and end papers 5,000.00

Perm lotion 30,000.00
Tint brushes 5,000.00
Gel or colored cholesterol 30,000.00
Hair clips 5,000.00

Disinfectant that is certified to

eliminate bacteria, viruses, and fungi 10,000.00
Hand sanitizer 5,000.00
Cloth and paper towels 6,000.00
Neck strips 8,000.00
Protective drape 6,000.00
Water spray bottle 5,000.00
Protective cotton 5,000.00
Protective cream 5,000.00
Protective gloves 5,000.00
Masking tape 5,000.00
First aid kit 15,000.00
200,000.00

Operating expense 2019

Useful life
Equipment
Hair clippers and guard. 10,000.00 5 2,000.00
Haircutting shears. 10,000.00 5 2,000.00
Hair brush. 10,000.00 5 2,000.00
Shaving razor. 35,000.00 5 7,000.00
 Straight razor. 35,000.00 5 7,000.00
Comb. 10,000.00 5 2,000.00
Spatula. 10,000.00 5 2,000.00
Aircondition 85,000.00 10 8,500.00
Hot towel Warmer 45,000.00 10 4,500.00
250,000.00 37,000.00

Supplies
Shaving cream 80,000.00
Wet steam towels 15,000.00
Chemical wave rods and end papers 5,000.00
Perm lotion 60,000.00
Tint brushes 10,000.00
Gel or colored cholesterol 60,000.00
Hair clips 5,000.00
Disinfectant that is certified to
eliminate bacteria, viruses, and fungi 10,000.00
Hand sanitizer 10,000.00
Cloth and paper towels 15,000.00
Neck strips 8,000.00
Protective drape 15,000.00
Water spray bottle 10,000.00
Protective cotton 10,000.00
Protective cream 10,000.00
Protective gloves 10,000.00
Masking tape 2,000.00
First aid kit 15,000.00
350,000.00
 2018 2019
Jan 120,000.00 160,000.00
Feb 120,000.00 160,000.00
Mar 120,000.00 160,000.00
Aprl 120,000.00 160,000.00
May 120,000.00 160,000.00
June 120,000.00 160,000.00
July 120,000.00 160,000.00
Aug 120,000.00 160,000.00
Sept 120,000.00 160,000.00
Oct 120,000.00 160,000.00
Nov 120,000.00 160,000.00
Dec 120,000.00 160,000.00
1,440,000.00 1,920,000.00