Canteen September

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Calaocan Elementary School

Rizal St. Calaocan, San Jose City

STATEMENT OF FINANCIAL CONDITION


As of September, 2019

2019 2018
ASSETS
Cash and cash equivalents 370.00
Accounts receivables
Inventory 1,500.00
Property, plant and equipment at cost
Less: Accumulated depreciation
TOTAL ASSETS 1,870.00 -
LIABILITIES
Accounts Payable
Other Payables
TOTAL LIABILITIES - -

EQUITY
School Revolving Capital 1,500.00
Add: Net Income Derived from Operation of 370.00
Canteen
TOTAL EQUITY 1,870.00 -
TOTAL LIABILITIES AND EQUITY 1,870.00 -
-

Prepared by: Certified correct:

VIRGINIA C. SANTOS RICARDO A. CATINDIG JR., Ph.D.


School Canteen Manager School Head

Audited by:

CELIA E. LOPEZ
Head of Auditing Committee
Calaocan Elementary School
Rizal St. Calaocan, San Jose City
As of September, 2019

SCHEDULE OF COST OF SALES

GRAND
Canteen TOTAL
Inventory, beginning - Inventory that was left last month
Items bought for sale less purchase returns and
Purchase (net) 7,950.00 7,950.00 discounts if any
Freight - In - Delivery Cost
Total Purchases 7,950.00 7,950.00 Total of Purchase (net) + freight in
Add: Production Cost
Direct Materials Raw materials to be used for sale
Direct Labor - Labor paid to cook
Overhead - Other costs indirectly attributable to the goods
Total Production Cost - - Total of Direct materials to overhead
Total of Inventory, beginning+Total Purchases+Total
Total Goods Available for Sale 7,950.00 7,950.00 Production Cost
Less: Inventory, end Inventory left for the month
COST OF SALES 7,950.00 7,950.00 Total Goods available for sale - Inventory, end

Prepared by: Certified correct:

VIRGINIA C. SANTOS RICARDO A. CATINDIG JR.,Ph.D.


Canteen Manager School Head
Calaocan Elementary School
Rizal St. Calaocan San Jose City

STATEMENT OF OPERATIONS
For the Period Ending September 2019

Current Year Previous Year


REVENUES
Net Sales
Sales (Gross)
Sales Returns and Allowances
Sales Discounts
Total Sales 12,187.66 -

Cost of Sales
Purchases
Freight in
Inventory
Cost of Sales 7,950.00 -
GROSS PROFIT 4,237.66 -
Add: Other Operating Income

EXPENSES
SELLING COSTS
Salaries and Wages 2,000.00
Office Supplies 1,941.00
Store Supplies
Power, Light and Water
Travel and Transportation 978.00
Repairs and Maintenance 1,090.00
Rental
Taxes and Licenses
Communication Expense
Spoilage and Breakage
Provision for Probable Losses and Accounts
Delivery Expense
Gas, Oil and Lubricants
Depreciation and Amortization
Total Selling Costs 6,009.00 -

ADMINISTRATIVE COSTS
Salaries and Wages
Employees' Benefits
SSS/ECC/Philhealth/Pag ibig Contributions
Officers' Honorarium and Allowances/Snacks 1,137.00
Office Supplies
Total Administrative Costs 1,137.00 -
TOTAL EXPENSES 3,867.00 -
NET INCOME DERIVED FROM OPERATIONS 370.00 -

UTILIZATION OF NET INCOME


Supplementary Feeding Program for Undernourished
Pupils/Students 35% 129.50 129.50
School Clinic Fund 5% 18.50 18.50
Faculty and Student Development Fund 15% 55.50 55.50
H.E. Instructional Fund 10% 37.00 37.00
Schools Operations Fund 25% 92.50 92.50
Revolving Capital 10% 37.00 37.00
TOTAL UTILIZATION OF NET INCOME 100% 370.00 370.00
-

Prepared by: Certified correct:

VIRGINIA C. SANTOS RICARDO A. CATINDIG JR., Ph.D.


Canteen Manager School Head
Calaocan Elementary School
Rizal St. Calaocan, San Jose City
As of September 2019

CASH FLOW STATEMENT

Cash Flow from Operating Activities:


Cash provided by operation:
Net surplus for Allocation 370.00
Depreciation/Amortization -
(Increase)/Decrease in:
Advances to Officers & Employees
Accounts Receivable Trade -
Inventories 1,500.00
Increase/(Decrease) in:
Accounts payable -
Other payables
Net cash from operating activities 1,870.00

Cash Flow from Investing Activities:


(Increase)/Decrease in:
Property & Equipment -
Net cash from Investing activities
Net (Increase)/Decrease in cash
Cash Balance, beginning
Cash Balance, end 1,870.00

(The above statement is presented using Indirect Method Approach.)

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