Activity - Financial Statements

NAME: BAYO, PHILIP JHON E.
REQUIREMENT (A): COMPARATIVE STATEMENT OF FINANCIAL POSITION
Entity A
Statement of Financial Position
As of December 31. 20x2
Notes 20x2 20x1

ASSETS
Current Assets
Cash and cash equivalents 30,000 30,000
Receivables 1 115,000 80,000
Inventories 20,000 -
Total Current Assets 165,000 110,000
Non-current Assets
Property, Plant, and Equipment 2 580,000 310,000
TOTAL ASSETS 745,000 420,000
Current Liabilities
Financial Liabilities 90,000 60,000
Inter-agency Payables 3 - 27,000
Total Current Liabilities 90,000 87,000
TOTAL LIABILITIES 90,000 87,000
TOTAL ASSETS less TOTAL LIABILITIES 655,000 333,000
NET ASSETS/ EQUITY

Accumulated Surplus/(Deficit) 655,000 333,000
TOTAL NET ASSETS/EQUITY 655,000 333,000
REQUIREMENT (B): COMPARATIVE STATEMENT OF FINANCIAL PERFORMANCE

Entity A
Statement of Financial Performance
For the Year Ended December 31, 20x2
Notes 20x2 20x1

REVENUE
Tax revenue 50,000 40,000
Service and Business Income 240,000 192,000
TOTAL REVENUE 290,000 232,000
Less: Current Operating Expenses
Personnel Services 4 400,000 319,000
Maintenance and Other Operating Exp. 5 430,000 344,000
Non-Cash Expenses 6 55,000 40,000
ToTAL CURRENT OPERATING EXPENSES 885,000 703,000
SURPLUS/(DEFICIT) FROM CURRENT OPERATIONS (595,000) (471,000)

Net Financial Assistance/Subsidy 1,167,000 934,000
SURPLUS/(DEFICIT) FOR THE PERIOD 572,000 463,000
REQUIREMENT (C): COMPARATIVE STATEMENT OF CHANGES IN EQUITY
Entity A
Statement of Changes in Net Assets/Equity
Accumulated Surplus/(Deficit)
20x2 20x1
Balance at January 1 333,000 160,000
Add/ (deduct)
Other adjustments - -
Prior period errors - -
Restated Balance - -
Add/ (deduct) 333,000 160,000
Changes in Net Assets/ Equity
Surplus/(Deficit) for the period 572000 463,000
Adjustment of net revenue (250,000) (290,000)
Balance at December 31 655,000 333,000
REQUIREMENT (D): STATEMENT OF CASH FLOWS

Entity A
Statement of Cash Flows
Cash Flows from Operating Activities

Receipt of Notice of Cash Allocation 1,210,000
Collection of Income/Revenues 250,000
Total Cash Inflows 1,460,000
Remittance to National Treasury 410,000

Payment of Expenses 640,000
Remittance of Personal Contribution and mandatory
deductions 67,000
Reversal of Unutilized NCA 43,000
Total Cash Outflows 1,160,000
Net Cash Provided by (Used in)Operating activities 300,000
Cash Flows from Investing Activities

Cash Inflows
Total Cash Inflows -
Cash Outflows
Purchase/Construction of PPE 300,000
Total Cash Outflows 300,000
Net Cash Provided by (Used in) Investing Activites (300,000)
Cash Flows from Financing Activities

Cash Inflows
Total Cash Inflows -
Cash Outflows
Total Cash Outflows -
Net CAsh Provided by (Used in) Financing Activities
Increase (Decrease) in Cash and Cash Equivalents -

Effects of Exchange Rate Changes on CCE -
Cash and Cash Equivalents, Jan 1 30,000
Cash and Cash Equivalents, Dec. 31 30,000
Requirement (e): STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
ENTITY A
STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
Actual Amounts Difference Final
Particulars Budgeted Amounts comparable Budget and Actual
Original Final
Note
s
RECEIPTS
Tax revenue 40,000 40,000 50,000 -10,000
Services and Business
Income 260,000 260,000 200,000 60,000
Total Receipts 300,000 300,000 250,000 50,000
PAYMENTS
Personnel Services 420,000 420,000 400,000 20,000
Maintenance and Other
OPEX 480,000 480,000 450,000 30,000
Capital Outlay 300,000 300,000 320,000 -20,000
Total Payments 1,200,000 1,200,000 1,170,000 30,000
NET RECEIPTS/PAYMENTS (900,000) (900,000) (920,000) 20,000
Requirement (f): PARTIAL NOTES TO THE FINANCIAL STATEMENTS
Note 1: Receivable
20x2 20x1
Accounts Receivable 120,000 80,000
Allowance for Impairment - A/R (5,000) -
Net 115,000 80,000
Note 2: Property, Plant and equipment

20x2 20x1
Buildings 800,000 800,000
Office equipment 660,000 340,000
Total Cost 1,460,000 1,140,000
Accumulated Depreciation - Bldgs. 680,000 650,000

Accumulated Depreciation - Equipment 200,000 180,000
Total Accumulated Depreciation 880,000 830,000
Property, Plant, and Equipment, net 580,000 310,000
Note 3: Inter-agency Payables

20x2 20x1
Due to BIR - 20,000
Due to GSIS - 4,000
Due to Pag-IBIG - 2,000
Due to PhilHealth - 1,000
Inter-agency Payable - 27,000
Note 4: Personnel Services

20x2 20x1
Salaries and Wages, Regular 380,000 303,000
PERA 20,000 16,000
Personnel Services 400,000 319,000
Note 5: Maintenance and Other Operating Expenses

20x2 20x1
Office Supplies 130,000 104,000
Water expenses 20,000 16,000
Electricity Expenses 60,000 48,000
Telephone Expenses 40,000 32,000
Janitorial Expenses 80,000 64,000
Security Expenses 100,000 80,000
Maintenance and Other Operating Expenses 430,000 344,000
Note 6: Non-Cash Expenses

20x2 20x1
Depreciation- Bldgs & Other structures 30,000 24,000
Depreciation-Machinery & Equipment 20,000 16,000
Impairment Loss- Loans & Receivables 5,000 -
Non-Cash Expenses 55,000 40,000

Activity - Financial Statements

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NAME: BAYO, PHILIP JHON E.

REQUIREMENT (A): COMPARATIVE STATEMENT OF FINANCIAL POSITION

Notes 20x2 20x1

TOTAL ASSETS 745,000 420,000

TOTAL LIABILITIES 90,000 87,000

TOTAL ASSETS less TOTAL LIABILITIES 655,000 333,000

NET ASSETS/ EQUITY

TOTAL NET ASSETS/EQUITY 655,000 333,000

REQUIREMENT (B): COMPARATIVE STATEMENT OF FINANCIAL PERFORMANCE

Notes 20x2 20x1

SURPLUS/(DEFICIT) FROM CURRENT OPERATIONS (595,000) (471,000)

REQUIREMENT (D): STATEMENT OF CASH FLOWS

Cash Flows from Operating Activities

Remittance to National Treasury 410,000

Net Cash Provided by (Used in)Operating activities 300,000

Cash Flows from Investing Activities

Net Cash Provided by (Used in) Investing Activites (300,000)

Cash Flows from Financing Activities

Net CAsh Provided by (Used in) Financing Activities

Increase (Decrease) in Cash and Cash Equivalents -

NET RECEIPTS/PAYMENTS (900,000) (900,000) (920,000) 20,000

Requirement (f): PARTIAL NOTES TO THE FINANCIAL STATEMENTS

Note 2: Property, Plant and equipment

Accumulated Depreciation - Bldgs. 680,000 650,000

Note 3: Inter-agency Payables

Note 4: Personnel Services

Note 5: Maintenance and Other Operating Expenses

Note 6: Non-Cash Expenses

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