REVENUE 2016

Income from salaries (net of taxes due) P 150 000

Other sources of income:
Gain from sale of biological assets 5 000
Service income from public transportati 20 000
TOTAL REVENUE P 175 000

EXPENSES
Food 55 000
Transportation 5 000
Education 30 000
Health and sanitation 23 000
Facility maintenance 3 000
Loss due to theft 6 000
Miscellaneous 18 500
TOTAL EXPENSES P 134 500
NET INCOME P 34 500

ASSETS 2016
Current assets
Cash on hand P 5 000
Cash in bank 15 000
Accounts receivable 1 500
Prepaid expenses 3 000

Noncurrent assets
Land 60 000
House 100 000
Furnitures and fixtures 10 000
Appliances 25 000
Biological assets 10 000
TOTAL ASSETS P 229 500

LIABILITIES AND NET WORTH

Current liabilities
Accounts payable 1 500
Utilities payable 3 000

Net worth, ending 225 000

TOTAL LIABILITIES AND NET WORTH P 229 500
 2016
Net cash generated from income P 34 500
Less:
Payment of accounts payable 5 000
Advanced payments for expenses 3 000
Lent funds 1 500
Purchase of biological assets 7 000
Purchase of appliances 8 000
Purchase of furniture and fixtures 2 000
Bank deposits 3 000

Cash balance, beginning 0

Cash balance, ending P 5 000
2015
P 130 000

3 500
15 000
P 148 500

50 000
4 000
25 000
20 000
3 000
1 500
15 000
P 117 000
P 30 000

2015

P 7 500
12 000
1 000
3 000

60 000
100 000
8 000
18 000
12 000
P 221 500

2 500
2 700

216 300
P 221 500
 2015
P 30 000

3 000
3 000
1 000
5 000
6 000
1 500
3 000

0
P 7 500