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    Projected Financial Statement Projected Financial Statements Generally Cover The First Five Years of Operations of The Business. A Sample

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    Jayvie
    The document provides projected financial statements for KingFC for the years 2017 through 2021, including projected income statements, statements of changes in partners' equity, balance sheets, and cash flow statements. The projections cover KingFC's first five years of operations and forecast revenue, expenses, profits, partner equity, assets, liabilities, and cash flows.

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    Projected Financial Statement Projected Financial Statements Generally Cover The First Five Years of Operations of The Business. A Sample

    Uploaded by

    Jayvie
    83 views5 pages
    The document provides projected financial statements for KingFC for the years 2017 through 2021, including projected income statements, statements of changes in partners' equity, balance sheets, and cash flow statements. The projections cover KingFC's first five years of operations and forecast revenue, expenses, profits, partner equity, assets, liabilities, and cash flows.

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    Landscape FS

    Original Title

    M.1 Landscape FS p.113-116

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    The document provides projected financial statements for KingFC for the years 2017 through 2021, including projected income statements, statements of changes in partners' equity, balance sheets, and cash flow statements. The projections cover KingFC's first five years of operations and forecast revenue, expenses, profits, partner equity, assets, liabilities, and cash flows.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    83 views5 pages

    Projected Financial Statement Projected Financial Statements Generally Cover The First Five Years of Operations of The Business. A Sample

    Uploaded by

    Jayvie
    The document provides projected financial statements for KingFC for the years 2017 through 2021, including projected income statements, statements of changes in partners' equity, balance sheets, and cash flow statements. The projections cover KingFC's first five years of operations and forecast revenue, expenses, profits, partner equity, assets, liabilities, and cash flows.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    Projected Financial Statement

    Projected financial statements generally cover the first five years of operations of the business. A sample

    projected Income Statement, Statement of Changes in Partners’ Equity, Balance Sheet, and Cash Flow Statement is

    presented below:

    Table 57
    Projected Income Statement

    KingFC
    Projected Income Statement
    For the year ended 2017-2021

    SCHEDULE 2017 2018 2019 2020 2021


    Net Sales 1 ₱ 10,698,797.00 ₱ 12,072,360.00 ₱ 13,613,663.00 ₱ 15,342,282.00 ₱ 17,280,689.00
    Less: Cost of Sales 2 8,936,705.00 9,971,393.89 11,127,291.09 12,420,374.22 13,867,102.97
    Gross Profit ₱ 1,762,092.00 ₱ 2,100,966.11 ₱ 2,486,371.91 ₱ 2,921,907.78 ₱ 3,413,586.03
    Less: Operating Expenses 11 877,236.60 950,621.00 987,833.15 1,031,332.54 1,068,263.08
    Net Income before tax ₱ 884,855.40 ₱ 1,150,345.11 ₱ 1,498,538.76 ₱ 1,890,575.24 ₱ 2,345,322.95
    Less: Income tax 265,456.62 345,103.53 449,561.63 567,172.57 703,596.88
    Net Income after tax ₱ 619,398.78 ₱ 805,241.58 ₱ 1,048,977.13 ₱ 1,323,402.67 ₱ 1,641,726.06

    KingFC Page | 113


    Table 58
    Projected Statement of Changes in Partners’ Equity

    KingFC
    Projected Statement of Changes in Partner's Equity
    For the year ended 2017-2021

    2017 2018 2019 2020 2021


    Apelo, Capital ₱ 239,327.85 ₱ 260,956.84 ₱ 311,834.10 ₱ 395,642.42 ₱ 517,649.55
    Ba-jan, Capital 322,759.51 519,856.14 764447.00 1,068,808.06 1,450,498.49
    Gadiano, Capital 239,327.85 260,956.84 311834.10 395,642.42 517,649.55
    Peje, Capital 239,327.85 260,956.84 311834.10 395,642.42 517,649.55
    Rabina, Capital 239,327.85 260,956.84 311834.10 395,642.42 517,649.55
    Soliman, Capital ₱ 239,327.85 ₱ 260,956.84 ₱ 311,834.10 ₱ 395,642.42 ₱ 517,649.55
    Total Partner's Capital ₱ 1,519,398.78 ₱ 1,824,640.36 ₱ 2,323,617.49 ₱ 3,047,020.16 ₱ 4,038,746.22

    Ba-jan, Capital 2017 2018 2019 2020 2021


    Beginning Capital ₱ 322,759.51 ₱ 519,856.14 ₱ 764,447.00 ₱ 1,068,808.06
    Add: Investments ₱ 150,000.00
    Share in Income 247,759.51 322,096.63 419,590.85 529,361.07 656,690.43
    Less: Withdrawal 75,000.00 125,000.00 175,000.00 225,000.00 275,000.00
    Ending Capital ₱ 322,759.51 ₱ 519,856.14 ₱ 764,447.00 ₱ 1,068,808.06 ₱ 1,450,498.49

    Apelo, Gadiano, Peje, Rabina, Soliman, Capital 2017 2018 2019 2020 2021
    Beginning Capital ₱ 239,327.85 ₱ 260,956.84 ₱ 311,834.10 ₱ 395,642.42
    Add: Investments ₱ 240,000.00
    Share in Income 74,327.85 96,628.99 125,877.26 158,808.32 197,007.13
    Less: Withdrawal 75,000.00 75,000.00 75,000.00 75,000.00 75,000.00
    Ending Capital ₱ 239,327.85 ₱ 260,956.84 ₱ 311,834.10 ₱ 395,642.42 ₱ 517,649.55

    KingFC Page | 114


    Table 59
    Projected Balance Sheet

    KingFC
    Projected Balance Sheet
    December 31, 2016-2021

    ASSETS SCHEDULE 2017 2018 2019 2020 2021


    Current Assets
    Cash ₱ 736,651.92 ₱ 451,834.07 ₱ 287,620.30 ₱ 264,250.43 ₱ 416,211.15
    Inventory 24 575,345.00 1,220,250.00 1,943,118.00 2,753,381.00 3,661,606.00
    Prepaid Rent 12 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00
    Supplies 25 7,589.00 9,265.32 10,460.68 11,734.02 13,153.11
    Total Current Assets ₱ 1,409,585.92 ₱ 1,771,349.39 ₱ 2,331,198.98 ₱ 3,119,365.46 ₱ 4,180,970.26

    Non- Current Assets


    Furniture and Fixtures- Net 19 ₱ 44,625.00 ₱ 38,250.00 ₱ 31,875.00 ₱ 25,500.00 ₱ 19,125.00
    Stall Equipment- Net 8 151,687.00 131,874.00 112,061.00 92,248.00 72,435.00
    Office Equipment- Net 9 21,875.00 18,750.00 15,625.00 12,500.00 9,375.00
    Total Non- Current Assets ₱ 218,187.00 ₱ 188,874.00 ₱ 159,561.00 ₱ 130,248.00 ₱ 100,935.00
    TOTAL ASSETS ₱ 1,627,772.92 ₱ 1,960,223.39 ₱ 2,490,759.98 ₱ 3,249,613.46 ₱ 4,281,905.26

    LIABILITIES AND CAPITAL


    Income Tax Payable 23 ₱ 66,364.16 ₱ 86,275.88 ₱ 112,390.41 ₱ 141,793.14 ₱ 175,899.22
    SSS Fund Payable 20 6,660.00 6,990.00 7,320.00 7,650.00 8,142.60
    PhilHealth Fund Payable 21 1,500.00 1,500.00 1,650.00 1,650.00 1,800.00
    Pag-ibig Fund Payable 22 1,200.00 1,200.00 1,200.00 1,200.00 1,200.00
    Withholding Tax Payable 26 4,324.98 4,928.73 5,562.67 6,464.74 6,927.22
    Utilities Payable 10 12,800.00 13,695.42 14,653.42 15,678.42 16,775.17
    VAT Payable 27 15,525.00 20,993.00 24,366.00 28,157.00 32,414.83
    Total Liabilities ₱ 108,374.14 ₱ 135,583.03 ₱ 167,142.49 ₱ 202,593.30 ₱ 243,159.04

    CAPITAL
    Total Partner's Capital ₱ 1,519,398.78 ₱ 1,824,640.36 ₱ 2,323,617.49 ₱ 3,047,020.16 ₱ 4,038,746.22
    TOTAL LIABILITIES AND PARTNER'S CAPITAL ₱ 1,627,772.92 ₱ 1,960,223.39 ₱ 2,490,759.98 ₱ 3,249,613.46 ₱ 4,281,905.26

    KingFC Page | 115


    Table 60
    Projected Statement of Cash Flow

    KingFC
    Projected Statement of Cash Flows
    For the year ended December 31, 2016-2021

    Cash Flows from Operating Activities SCHEDULE 2017 2018 2019 2020 2021
    Net Income ₱ 619,398.78 ₱ 805,241.58 ₱ 1,048,977.13 ₱ 1,323,402.67 ₱ 1,641,726.06
    Adjustment for Depreciation Expense- Furnitures and Fixtures 6,375.00 6,375.00 6,375.00 6,375.00 6,375.00
    Adjustment for Depreciation Expense- Kitchen Equipment 19,813.00 19,813.00 19,813.00 19,813.00 19,813.00
    Adjustment for Depreciation Expense- Office Equipment 3,125.00 3,125.00 3,125.00 3,125.00 3,125.00
    Less: Change in Inventory Balance (575,345.00) 644,905.00 722,868.00 810,263.00 908,225.00
    Change in Prepaid Rent (90,000.00)
    Change in Supplies (7,589.00) 1,676.32 1,195.36 1,273.35 1,419.08
    Add: Change in Income Tax 66,364.16 19,911.73 26,114.52 29,402.74 34,106.08
    Change in SSS Fund Payable 6,660.00 330.00 330.00 330.00 492.60
    Change in PhilHealth Fund Payable 1,500.00 150.00 150.00
    Change in Pag-ibig Payable 1,200.00
    Change in Withholding Tax Payable 4,324.98 603.75 633.94 902.07 462.48
    Change in Utilities Payable 12,800.00 895.42 958.00 1,025.00 1,096.75
    Change in VAT Payable 15,525.00 5,468.00 3,373.00 3,791.00 4,257.83
    Net Cash Flows from Operating Activities ₱ 84,151.92 ₱ 215,182.15 ₱ 385,786.24 ₱ 576,630.13 ₱ 801,960.72

    Cash Flows from Investing Activities


    Purchase of Furniture and Fixtures ₱ (51,000.00) ₱ - ₱ - ₱ - ₱ -
    Purchase of Kitchen Equipment (171,500.00)
    Purchase of Office Equipment (25,000.00)
    Net Cash Flows From Investing Activities ₱ (247,500.00) ₱ - ₱ - ₱ - ₱ -

    Cash Flows from Financing Activities


    Capital Contribution ₱ 1,350,000.00
    Partner's Withdrawal 450,000.00 500000 550,000.00 600,000.00 650,000.00
    Net Cash Flows from Financing Activities ₱ 900,000.00 ₱ (500,000) ₱ (550,000) ₱ (600,000) ₱ (650,000)

    Total Cash Inflow (Outflow) ₱ 736,651.92 ₱ (284,818) ₱ (164,214) -₱ 23,369.87 ₱ 151,960.72


    Cash Beginning 736,651.92 451,834.07 287,620.30 264,250.43
    Cash Ending ₱ 736,651.92 ₱ 451,834.07 ₱ 287,620.30 ₱ 264,250.43 ₱ 416,211.15

    KingFC Page | 116


    KingFC Page | 117

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