Subjectr Tax Return Receipt Gonfirmation

From: [email protected]
To: [email protected]
Date: Wednesday, March 29, 2023, 10:58:35 AM GMT+8

This confirms receipt of your submission with the following details subject to validation by BIR:
F i le n a rne : 50 1480946000- 1701v20 18- 1 22)22.xml

Date received by BtR: 29 March 2023

Time received by BlRr 10:58 AM
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LEANIH B. MUNALE&,I
GAJOK KOffiHEN t&ruGUAffiE LH&RruING CEIUTER
FOffiTICI-I $T., $UMPONG,
&TIALAYBALAY C lTY, WUKTDNSru

I have audited the accompanying financial statements of GAJOK KOREAN LANGUAGE LEARNING
CENTER which comprise the balance sheet as at December 31, 2022, and the statement of income and
expenses for the year then ended.

Owner's Responsibility for the Financial Statements

The Owner is responsible for the preparation and fair presentation of these financial statements in
accordance with Philippine Standards. This responsibility includes designing, implementing and
maintaining internal control relevant to the preparation and fair presentation of financial statements that
are free from material missfiatement, whether due to fraud or error, seleciing and applying appropriate
accounting policies, and making accounting estimates that are reasonable in the circumstances.

Auditor's Responsibility

My responsibility is to express an opinion on these financialstatements based on my audit. I conducted

my audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with
ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial
staternents are free from material misstatement. An audit involves performing procedures selected
depend on the auditor's judgment, including the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error. ln making those risk assessments, the auditor
considers internal control relevant to the entity's preparation and fair presentation of the financial
statements in order to design audit procedures that arc appropriate in the circumstances, but not for the
purpose of expressing an opinion on the effectiveness of the entity's intemal control. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by management, as well as evaluating the overall presentation of the
financial statements.

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my
audit opinion.

Opinion

ln my opinion, the financial statements present fairly, in all material respects, the financial position of
GAJOK KOREAru LANGUAGE LEARNTNG CENTER as of December 31, 2022, and its financial
performqnce for the year then ended, in acccrdance with Philippine Financial Reporting Standards.

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*o Yh*,spA #&T#.ffi*effiil**
*#**14
Board Certifi*#te No.
pffi0/BOA No. 4g*4 until January 14,2025 lil-{iTifii-.
PTR No. S18SS3S Lr&l{il S;tl'lit - {i\4H{Jijil*
TIF'l: 2fi9-75$-3fi8
AR aln-. 35-00 1 512-1 -2*21
Date Explred Dec. 31 ,2fr25
 STATEM ENT OF MANAGEM ENT'S RESPONSIBILITY
FOR ANNUAL INCOME TAX RETURN

The owner of GAJOK KOREAN LANGUAGE LEARNING CENTER is responsible for all information and
representations contained in the Annual lncome Tax Return for the year ended December 31, 2022.
Management is likewise responsible for all information and representations contained in the financial
statements accompanying the Annual lncome Tax Retum or Annual lnformation Return covering the
same reporting period. Furthermore, the Management is responsible for all information and
representations contained in all the other tax returns and representations contained in all the other tax
returns filed for the reporting period, including, but not limited, to the value added tax and/or percentage
tax returns, withholding tax retums, documentary stamp tax returns, and all othertax retums.

ln this regard, the Management affirms that the attached audited financiat statements for the year ended
December 31, 2022 and the accompanying Annual lncome Tax Return are in accordance with the books
and records of GAJOK KOREAN LANGUAGE LEARNING GENTER is complete and coned in all
material respects, Management likewise affirms that;

{a} The Annual lncome Tax Retum has been prepared in accordance with the provision of
the National lnternal Revenue Code, as amended, and pertinent tax regulations and
other issuances of the Department of Finance and the Bureau of lntemal Revenue;

tw\ Any disparity of figures in the submitted reports arising from the preparation of financial
statements pursuant to tax accounting rules has been reported as reconciling items and
maintained in the company's books and records in accodance with the requirement of
Revenue Regulations No.8-2007 and other relevant issuances;

{wk GAJOK KOREAN LANGUAGE LEARNING CENTER has filed allapplicable tax retums,
reports and statements required to be filed under Philippine tax laws for the reporting
period, and all taxes and other impositions shown thereon to be due and payable have
been paid for the reporting period, except those contested in good faith.

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 ffiAJ*K K#RfiAru LAruffiUAGH LE&Rru'ruG f;EruTTffi
Lesm** ffi" fu?unalern - fiwner
F*rtictt $t., Sumpons , f*alaybalay Slty, Bukidnsffi

$tatement af Comprehensive lncCIme

F*r th* Year Ending December 31 , 2422

#trSSS INCOME &,{&ffiffi,ffiffiffi.*ffi

Less: Cast af $ervices
#alaries, Wages and Allowafises 1J24,fi52.**
I\rlaterials and Supply 3*7,1S4.0S
Depreciation Expense 68,745.00
TOTAL CO$T OF $ERVICT$ 1,55il,561.ilfi

TSTAL IruSSME 44J 3*4"**

Less; 0p*rating Expenss$

Repairs and Maintenance 3S,4S5.00
Cammunication, Light and Water 327,439.0S
$upplies and Othsr Consumables 19,247.**
Taxes and Licenses 39,542.ofi
Fuel & C'l Expense 38,7S5.00
Representatian Expense 15,235.0*
Transportation and Travel 27,463.00
Miscellanesus 23,748.S0
T*tal Operating Expen$s$ *27 "gA4.0A

NET TruCOME {LS$$} BETOffiH IhTCOME TAX f; r##&,&ffi#.ffi#

#ertifEe$ by:
LEAruIE B, MUIUALEM
Owner

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 GAJSK KOREAru LAhIGUAGE LEARNING CETUTER
Leanle B. Munalern * Swner
Fortich St", $umpCIng, Malaybal*y City, Bukidn*n

$tatement CIf Financi*l Pasition

As of De*ember 31 , 2fi22

&gstrrs
Current Assets
CashlCash in Bank 1,253,$S4.00
Accaunts Receivable 1,*21 ,728.0fi
Unused Supplies 39,74*.**
ht A te,h R&
Total Surrent Assets .s1E+ ,d+#a.Llu

Non-Current Assets
Praperty 1,43#,***"**
Vehicle/Transpcrtation Un it s87,5S0. S0
Furnitures & Fixtures 235,75fi. fi0
Taols & Equipment 31 8,S0*. ##
Total 2,678,80*.*fi
Less: Depreciation Expense t4fi1 ,82*.*p\
Total Non*Current Assets 2,276,98fi.Ofi

TOTAI. AS$ETS &,ffiwt,&Tffi"**

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Current Liabilities
Accounts Fayable and hcorued Expens*$ 372,634.A4
Other Current Liabilities 38,fr2#.*fr
T atal *urr*nt Liabil itie* 411,16fi.fi*

Owner's Equity
Leanie B" Munalem, Capital Seg. 2,625,85S.00
Add: Net lncome 1,8*4,4CI0.fi0
Less" Own*fs Draurings , {2S0,000.00i.
Total Own*r's Equity 4,18*,259.**

TSTAL LIABILITIT$ AruD CIWIUHR'S HQUITY s 4-##$,4t#.##

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