MR. AND MRS.

MEL ANTHONY LIBOON

STATEMENT OF FINANCIAL POSITION
August 31, 2014
(In Philippine Peso)

ASSETS
Current Assets
Cash 43,213.12
Advances to Friends / Relatives 10,000.00

53,213.12
Non-current Assets
Jewelries 25,000.00
Furnitures, appliances, fixtures 125,000.00
Vehicle 45,000.00
Lot 35,000.00
Others 20,000.00

250,000.00

TOTAL ASSETS 303,213.12

LIABILITIES AND NET WORTH

LIABILITIES
Current Liabilities
Current Portion of Emergency / Calamity Loan 5,734.77
Current Portion of GSIS Consolidated Loan 9,411.54
15,146.31
Non-current Liabilities
Emergency / Calamity Loan – net of current portion 14,265.23
GSIS Consolidated Loan – net of current portion 31,225.90

45,491.14

TOTAL LIABILITIES 60,637.45

NET WORTH
Net Worth, Beginning 145,403.25
Net Income 97,172.43

NET WORTH, END 242,575.67

TOTAL LIABILITIES AND NET WORTH 303,213.12

MR. AND MRS. MEL ANTHONY LIBOON
CASHFLOW STATEMENT
August 31, 2014
(In Philippine Peso)

MONTHLY ANNUALLY
INCOME
Salary 37,098.00 445,176.00
Personnel Relief Allowance (PERA) 4,000.00 48,000.00
Year - End Bonus - 37,098.00
Cash Gift - 10,000.00
Uniform / Clothing Allowance - 10,000.00
Productivity Incentive Benefits - 4,000.00
41,098.00 554,274.00
EXPENSES
Foods / Groceries 8,000.00 96,000.00
GSIS Contribution 3,338.82 40,065.84
Education 2,033.33 24,400.00
Recreation and Entertainment 2,000.00 24,000.00
Baby Sitter 2,000.00 24,000.00
Vitamins / Medicines 1,500.00 18,000.00
Clothing 1,500.00 18,000.00
Electricity 1,000.00 12,000.00
Laundry 1,000.00 12,000.00
Transportation / Gasoline 1,000.00 12,000.00
Pag - ibig Contribution 741.96 8,903.52
Mobile Phone 700.00 8,400.00
Loan Payment - Principal 639.23 7,670.73
Philhealth Contribution 450.00 5,400.00
Interest on Loans 448.68 5,384.18
Cable 350.00 4,200.00
Miscellaneous 3,500.00 42,000.00
30,202.02 362,424.27
NET INCOME BEFORE TAX 10,895.98 191,849.73
INCOME TAX 7,889.78 94,677.30

NET INCOME AFTER TAX 3,006.20 97,172.43

 Emergency / Calamity Loan Consolidated Loan
Payable in three years and carries a 6% interest rate Payable in six years and carries a 12% interest rate
Period Month Amort Prin. Int. O/S Bal. Period Month Amort Prin. Int. O/S Bal.
20,000.00 55,647.00
1st Oct-14 608.44 508.44 100.00 19,491.56 1st Aug-12 1,087.91 531.44 556.47 55,115.56
2nd Nov-14 608.44 510.98 97.46 18,980.58 2nd Sep-12 1,087.91 536.75 551.16 54,578.81
3rd Dec-14 608.44 513.54 94.90 18,467.04 3rd Oct-12 1,087.91 542.12 545.79 54,036.68
4th Jan-15 608.44 516.10 92.34 17,950.94 4th Nov-12 1,087.91 547.54 540.37 53,489.14
5th Feb-15 608.44 518.68 89.75 17,432.26 5th Dec-12 1,087.91 553.02 534.89 52,936.12
6th Mar-15 608.44 521.28 87.16 16,910.98 6th Jan-13 1,087.91 558.55 529.36 52,377.58
7th Apr-15 608.44 523.88 84.55 16,387.10 7th Feb-13 1,087.91 564.13 523.78 51,813.44
8th May-15 608.44 526.50 81.94 15,860.59 8th Mar-13 1,087.91 569.78 518.13 51,243.67
9th Jun-15 608.44 529.14 79.30 15,331.46 9th Apr-13 1,087.91 575.47 512.44 50,668.19
10th Jul-15 608.44 531.78 76.66 14,799.68 10th May-13 1,087.91 581.23 506.68 50,086.97
11th Aug-15 608.44 534.44 74.00 14,265.23 11th Jun-13 1,087.91 587.04 500.87 49,499.93
12th Sep-15 608.44 537.11 71.33 13,728.12 12th Jul-13 1,087.91 592.91 495.00 48,907.02
13th Oct-15 608.44 539.80 68.64 13,188.32 13th Aug-13 1,087.91 598.84 489.07 48,308.18
14th Nov-15 608.44 542.50 65.94 12,645.83 14th Sep-13 1,087.91 604.83 483.08 47,703.35
15th Dec-15 608.44 545.21 63.23 12,100.62 15th Oct-13 1,087.91 610.88 477.03 47,092.47
16th Jan-16 608.44 547.94 60.50 11,552.68 16th Nov-13 1,087.91 616.98 470.92 46,475.49
17th Feb-16 608.44 550.68 57.76 11,002.01 17th Dec-13 1,087.91 623.15 464.75 45,852.33
18th Mar-16 608.44 553.43 55.01 10,448.58 18th Jan-14 1,087.91 629.39 458.52 45,222.95
19th Apr-16 608.44 556.20 52.24 9,892.38 19th Feb-14 1,087.91 635.68 452.23 44,587.27
20th May-16 608.44 558.98 49.46 9,333.40 20th Mar-14 1,087.91 642.04 445.87 43,945.23
21st Jun-16 608.44 561.77 46.67 8,771.63 21st Apr-14 1,087.91 648.46 439.45 43,296.77
22nd Jul-16 608.44 564.58 43.86 8,207.05 22nd May-14 1,087.91 654.94 432.97 42,641.83
23rd Aug-16 608.44 567.40 41.04 7,639.65 23rd Jun-14 1,087.91 661.49 426.42 41,980.34
24th Sep-16 608.44 570.24 38.20 7,069.41 24th Jul-14 1,087.91 668.11 419.80 41,312.23
25th Oct-16 608.44 573.09 35.35 6,496.32 25th Aug-14 1,087.91 674.79 413.12 40,637.45
26th Nov-16 608.44 575.96 32.48 5,920.36 26th Sep-14 1,087.91 681.54 406.37 39,955.91
27th Dec-16 608.44 578.84 29.60 5,341.52 27th Oct-14 1,087.91 688.35 399.56 39,267.56
28th Jan-17 608.44 581.73 26.71 4,759.79 28th Nov-14 1,087.91 695.23 392.68 38,572.33
29th Feb-17 608.44 584.64 23.80 4,175.15 29th Dec-14 1,087.91 702.19 385.72 37,870.14
30th Mar-17 608.44 587.56 20.88 3,587.59 30th Jan-15 1,087.91 709.21 378.70 37,160.93
31st Apr-17 608.44 590.50 17.94 2,997.09 31st Feb-15 1,087.91 716.30 371.61 36,444.63
32nd May-17 608.44 593.45 14.99 2,403.63 32nd Mar-15 1,087.91 723.46 364.45 35,721.17
33rd Jun-17 608.44 596.42 12.02 1,807.21 33rd Apr-15 1,087.91 730.70 357.21 34,990.47
34th Jul-17 608.44 599.40 9.04 1,207.81 34th May-15 1,087.91 738.00 349.90 34,252.47
35th Aug-17 608.44 602.40 6.04 605.41 35th Jun-15 1,087.91 745.38 342.52 33,507.08
36th Sep-17 608.44 605.41 3.03 (0.00) 36th Jul-15 1,087.91 752.84 335.07 32,754.24
37th Aug-15 1,087.91 760.37 327.54 31,993.88
38th Sep-15 1,087.91 767.97 319.94 31,225.90
39th Oct-15 1,087.91 775.65 312.26 30,450.25
40th Nov-15 1,087.91 783.41 304.50 29,666.85
41st Dec-15 1,087.91 791.24 296.67 28,875.61
42nd Jan-16 1,087.91 799.15 288.76 28,076.45
43rd Feb-16 1,087.91 807.15 280.76 27,269.31
44th Mar-16 1,087.91 815.22 272.69 26,454.09
45th Apr-16 1,087.91 823.37 264.54 25,630.72
46th May-16 1,087.91 831.60 256.31 24,799.12
47th Jun-16 1,087.91 839.92 247.99 23,959.20
48th Jul-16 1,087.91 848.32 239.59 23,110.88
49th Aug-16 1,087.91 856.80 231.11 22,254.08
50th Sep-16 1,087.91 865.37 222.54 21,388.71
51st Oct-16 1,087.91 874.02 213.89 20,514.69
52nd Nov-16 1,087.91 882.76 205.15 19,631.93
53rd Dec-16 1,087.91 891.59 196.32 18,740.34
54th Jan-17 1,087.91 900.51 187.40 17,839.83
55th Feb-17 1,087.91 909.51 178.40 16,930.32
56th Mar-17 1,087.91 918.61 169.30 16,011.72
57th Apr-17 1,087.91 927.79 160.12 15,083.92
58th May-17 1,087.91 937.07 150.84 14,146.85
59th Jun-17 1,087.91 946.44 141.47 13,200.41
60th Jul-17 1,087.91 955.91 132.00 12,244.51
61st Aug-17 1,087.91 965.46 122.45 11,279.04
62nd Sep-17 1,087.91 975.12 112.79 10,303.92
63rd Oct-17 1,087.91 984.87 103.04 9,319.05
64th Nov-17 1,087.91 994.72 93.19 8,324.33
65th Dec-17 1,087.91 1,004.67 83.24 7,319.67
66th Jan-18 1,087.91 1,014.71 73.20 6,304.95
67th Feb-18 1,087.91 1,024.86 63.05 5,280.09
68th Mar-18 1,087.91 1,035.11 52.80 4,244.99
69th Apr-18 1,087.91 1,045.46 42.45 3,199.53
70th May-18 1,087.91 1,055.91 32.00 2,143.61
71st Jun-18 1,087.91 1,066.47 21.44 1,077.14
72nd Jul-18 1,087.91 1,077.14 10.77 0.00
Total Int.

556.47
551.16
545.79
540.37
534.89
529.36
523.78
518.13
512.44
506.68
500.87
495.00
489.07
483.08
477.03
470.92
464.75
458.52
452.23
445.87
439.45
432.97
426.42
419.80
413.12
406.37
499.56
490.13
480.63
471.04
461.36
451.61
441.77
431.84
421.83
411.73
401.54
391.26
380.90
370.44
359.90
349.26
338.53
327.70
316.78
305.77
294.66
283.45
272.14
260.74
249.23
237.63
225.92
214.11
202.20
190.18
178.06
165.82
153.49
141.04
128.48
115.82
103.04
93.19
83.24
73.20
63.05
52.80
42.45
32.00
21.44
10.77
Education
Mel Kaye TOTAL
Tuition 4,500.00 2,700.00 7,200.00
Misc. 2,500.00 2,500.00 5,000.00
Total 7,000.00 5,200.00 12,200.00
No of Sem 2.00 2.00 4.00
Annual 14,000.00 10,400.00 24,400.00

Income Tax
Mel Kaye TOTAL
Income 222,588.00 222,588.00 445,176.00 477,600.00
Taxable Benefits 79,098.00 79,098.00 158,196.00 -
Gross Taxable Income 301,686.00 301,686.00 603,372.00 477,600.00
Personal Exemption 50,000.00 50,000.00 100,000.00 50,000.00
Deduction for Dependents 25,000.00 - 25,000.00 -
Net Taxablle Income 226,686.00 251,686.00 478,372.00 427,600.00

Tax 22,500.00 50,000.00 50,000.00

21,671.50 505.80 53,280.00
44,171.50 50,505.80 94,677.30 103,280.00
Notes:
*Estate Planning
*Retirement Planning
*Insurance Planning
*Investment Planning
 Mel Kristine Total
Cash Needs
Edcation 12,200.00 12,200.00 24,400.00
Mortgage 6,692.83 13,054.91 19,747.74
Final Expenses 50,000.00 50,000.00 100,000.00
Emergency Funds 90,606.07 90,606.07 181,212.14
Total Cash Needs 159,498.90 165,860.98 325,359.88

Income Needs
Monthly Income Needed 23,094.75 23,094.75 46,189.50
Less: Salary of the Spouse 18,549.00 18,549.00 37,098.00
Net Monthly Income Needed 4,545.75 4,545.75 9,091.50
Times no. of months 12.00 12.00 12.00
Annual Income Needed 54,549.00 54,549.00 109,098.00
Divide: interest rate 8.00% 8.00% 8.00%
Assets Needed to Provide Income 681,862.50 681,862.50 1,363,725.00

Total assets Needed 841,361.40 847,723.48 1,689,084.88

Less: Cash in Bank and Receivable 31,606.56 21,606.56 53,213.12
Less: Current insurance Coverage 450,000.00 - 450,000.00
Additional Insurance Needed 359,754.84 826,116.92 1,185,871.76
FV ?? 24,822,069.15 Option 1: 5-Year Lump Sum and Old Age Pension
PMT 30,000.00 165,480.46 Option 2: Cash payment and Basic Monthly
PV 4,500,000.00 In option 2, the retiree will receive a Cash Payment equiva
Inflation Rate 5% 24,822,069.15
NPER 35 yrs 1,985,765.53 a) If period with premium payments is less than 15 years:
BMP = .375 x RAMC (Revalued Average Monthly Compen
30,000.00 1,985,765.53
b) If period with premium payments is 15 years and more
FV 24,822,069.15
PMT 3,859.78 BMP of Kaye
PV - 18,286.55 16694.1
Interest Rate 12% 19249
NPER 35 yrs 18286.55

FV 19,813,839.15
PMT ?? 3,928.54
PV -
Interest Rate 12%
NPER 33 yrs
m and Old Age Pension
nd Basic Monthly
receive a Cash Payment equivalent to 18 times the Basic Monthly Pension (BMP) payable upon retirement and then a monthly pension for life payable imm

payments is less than 15 years:

alued Average Monthly Compensation)

payments is 15 years and more : BMP = .025 x RAMC x period with premium payments
*Computation of Revalued Average Monthly Compensation (RAMC):
Kaye Mel Total
Average Monthly Compensation 18,549.00 18,549.00 37,098.00
Additional per RA 8291 700.00 700.00 1,400.00
RAMC 19,249.00 19,249.00 38,498.00

Computation of Basic Monthly Pension:

Kaye Mel Total
RAMC 19,249.00 19,249.00 38,498.00
Multiply: Rate per RA 8291 2.5% 2.5% -
481.23 481.23 962.45
Multiply: Period with premium payments 38.00 37.00 -
Basic Monthly Pension 18,286.55 17,805.33 36,091.88

OR
Limitation: Under RA 8291, BMP shall not exceed 90% of the average monthly compensation

Average Monthly Compensation 18,549.00 18,549.00 37,098.00

Multiply: Limitation Rate 90% 90% 90%
BMP Limit 16,694.10 16,694.10 33,388.20

Monthly needs 165,480.46 1,985,765.53

Monthly pension 33,388.20 400,658.40
Defficiency 132,092.26 1,585,107.13

Annual defficienccy 1,585,107.13

Retirement Fund Defficiency 19,813,839.15

Total retirement fund needed 24,822,069.15

pension for life payable immediately after his retirement date.
 Month Sem Year 5 years
Allowance 7,700.00 38,500.00 77,000.00 385,000.00 53,500.00
Board 3,000.00 15,000.00 30,000.00 150,000.00 107,000.00
TOTAL 10,700.00 53,500.00 107,000.00 535,000.00 535,000.00

Boarding and Allowance Tuition

FV ?? 1,054,463.93 ?? 1,867,625.94 2,922,089.87
PV 460,059.12 591,242.54
PMT - -
Rate 5% 7%
NPER 17 yrs 17 yrs

FV 2,922,089.87
PV - 4,418.65
PMT ??
Rate 12%
NPER 17 years

Client's Dream House

Pmt ?? 6,498.92 Pmt ??

PV 700,000.00 PV 700,000.00
FV ?? 1,253,593.39 FV 1,253,593.39
NPER 10 yrs NPER 10 yrs
Rate 12% Rate 12%
 Tuition Board and Allowance
Yr 1 80,000.00 107,000.00
Yr 2 85,600.00 112,350.00
Yr 3 91,592.00 117,967.50
Yr 4 98,003.44 123,865.88
Yr 5 104,863.68 130,059.17
Total 460,059.12 591,242.54