GENTLE HANDS SPA & WELNESS CENTER

Trial Balance
December 31, 2016

Cash 921,957.57
Restricted Cash 77,809.98
Supplies 38,055.00
Short Term Investment 300,000.00
Interest Receivable 12,000.00
Land 4,800,000.00
Building 2,500,000.00
Accumulated depreciation 460,000.00
Equipment 264,000.00
Accumulated depreciation 158,400.00
Furnitures and Fixtures 435,000.00
Accumulated depreciation 174,000.00
Accounts Payable 90,000.00
Notes Payable 500,000.00
SSS Payable 17,270.00
HDMF Payable 6,310.00
PhilHealth Payable 3,675.00
Interest Payable 20,000.00
Cruz, Capital 2,480,900.00
Del Valle, Capital 1,754,300.00
Garcia, Capital 1,510,056.45
Uy, Capital 1,552,377.00
Service Revenue 2,047,590.00
Interest Income 12,000.00
Electricity Expense 60,000.00
Water Expense 12,000.00
Telephone Expense 9,000.00
Subscription Expense 3,000.00
SSS Expense 103,620.00
HDMF Expense 37,860.00
Philhealth Expense 22,050.00
Salaries Expense 892,416.90
Supplies expense 71,185.00
Interest expense 20,000.00
Commission Expense 94,153.00
Depreciation expense 66,033.33
Advertising expense 15,000.00
Other Expenses 31,737.67
10,786,878.45 10,786,878.45
 Unadjusted Trial Balance
Account Dr. Cr.
Cash 921,957.57
Restricted Cash 77,809.98
Supplies 109,240.00
Short Term Investment 300,000.00
Interest Receivable 12,000.00
Land 4,800,000.00
Building 2,500,000.00
Accumulated depreciation 421,666.67
Equipments 264,000.00
Accumulated depreciation 145,200.00
Furnitures and Fixtures 435,000.00
Accumulated depreciation 159,500.00
Accounts Payable 90,000.00
Notes Payable 500,000.00
Interest Payable
SSS Payable 17,270.00
HDMF Payable 6,310.00
PhilHealth Payable 3,675.00
Cruz, Capital 1,754,300.00
Del Valle, Capital 2,480,900.00
Garcia, Capital 1,510,056.45
Uy, Capital 1,552,377.00
Service Revenue 2,047,590.00
Interest Income 12,000.00
Electricity Expense 60,000.00
Water Expense 12,000.00
Telephone Expense 9,000.00
Subscription Expense 3,000.00
SSS Expense 103,620.00
HDMF Expense 37,860.00
Philhealth Expense 22,050.00
Salaries Expense 892,416.90
Commission Expense 94,153.00
Advertising expense 15,000.00
Other Expenses 31,737.67

Adjustment:
Depreciation expense
Supplies expense
Interest expense
Profit
TOTAL 10,700,845.12 10,700,845.12
 GENTLE HANDS SPA & WELNESS CENTER
Worksheet
For the Six Months Ended December 31, 2016
Adjustments Adjusted Trial Balance
Dr. Cr. Dr.
921,957.57
77,809.98
71,185.00 38,055.00
300,000.00
12,000.00
4,800,000.00
2,500,000.00
38,333.33
264,000.00
13,200.00
435,000.00
14,500.00

20,000.00

60,000.00
12,000.00
9,000.00
3,000.00
103,620.00
37,860.00
22,050.00
892,416.90
94,153.00
15,000.00
31,737.67

66,033.33 66,033.33
71,185.00 71,185.00
20,000.00 20,000.00

157,218.33 157,218.33 10,786,878.45

WELNESS CENTER
et
December 31, 2016
djusted Trial Balance Income Statement
Cr. Dr. Cr.

460,000.00

158,400.00

174,000.00
90,000.00
500,000.00
20,000.00
17,270.00
6,310.00
3,675.00
1,754,300.00
2,480,900.00
1,510,056.45
1,552,377.00
2,047,590.00 2,047,590.00
12,000.00 12,000.00
60,000.00
12,000.00
9,000.00
3,000.00
###
37,860.00
22,050.00
892,416.90
94,153.00
15,000.00
31,737.67

66,033.33
71,185.00
20,000.00
621,534.10
10,786,878.45 2,059,590.00 2,059,590.00
 Statement of Financial Position
Dr. Cr.
921,957.57
77,809.98
38,055.00
300,000.00
12,000.00
4,800,000.00
2,500,000.00
460,000.00
264,000.00
158,400.00
435,000.00
174,000.00
90,000.00
500,000.00
20,000.00
17,270.00
6,310.00
3,675.00
1,754,300.00
2,480,900.00
1,510,056.45
1,552,377.00

621534.1
9,348,822.55 9,348,822.55
 Cash
1-Jul 574373.45 38760
30-Jul 322705 10000
30-Aug 314310 2000
30-Sep 340635.00 1500
30-Oct 359735 190385.1
30-Nov 347565 10000
30-Dec 362640 2000
1500
181151.1
10000
2000
1 500
199040.1
300000
45480
10000
2000
1500
193216.1
28000
2000
1500
185375.1
10000
2000
1500
15000
3000
200932.4
50165.98
2,621,963.45 1,700,005.88
Balance 921,957.57

Interest Receivable
31-Dec 12 000
Balance 12 000

Short term Investment

16-Oct 300 000
 Balance 300 000

Supplies
30-Jun 25000 31 753
15-Jul 38,760.00 39 432
25-Oct 45,480.00

109 240 71 185

Balance 38 055

Land
1-Jul 4 800 000
Balance 4 800 000

Building
1-Jul 2 500 000
Balance 2 500 000

Accumulated Depreciation-Building
38 333.33
38 333.33

Equipment
1-Jul 264 000
Balance 264 000

Accumulated Depreciation-Equipment
13 200
13 200

Furnitures & Fixtures

1-Jul 435 000
Balance 435 000

Accumulated Depreciation-F&F
14 500
14 500
 Restricted Cash
1-Jul 27644.00
30-Jul 7906.28
30-Aug 7700.6
30-Sep 8345.56
30-Oct 8813.51
30-Nov 8515.35
30-Dec 8884.68
Bal 77809.98
 Accounts Payable
15-Jul
27-Jul
28-Jul
29-Jul
30-Jul Notes Payable
27-Aug
28-Aug
29-Aug
30-Aug
27-Sep Interest Payable
28-Sep
29-Sep
30-Sep
16-Oct
25-Oct SSS Payable
27-Oct
28-Oct
29-Oct
30-Oct
27-Nov
28-Nov
29-Nov
30-Nov
22-Dec
23-Dec
27-Dec HDMF Payable
28-Dec
29-Dec
30-Dec
30-Dec

PhilHealth Payable
 Cruz, Capital

30-Sep
30-Dec
Del Valle, Capital

Garcia, Capital

Uy, Capital

Sevice Revenues

ding
31-Dec
Balance

Interest Income

pment
31-Dec
Balance Salaries Expense
30-Jul 177108.1
30-Aug 167308.1
30-Sep 183315.1
30-Oct 177108.1
30-Nov 167308.1
30-Dec 183799.4
1055946.9
&F Balance 1055946.90
31-Dec
Balance
 Commission Expense
30-Jul 13277
30-Aug 13843
30-Sep 15725
30-Oct 16108
30-Nov 18067
30-Dec 17133
94 153
Balance 94 153

Supplies Expense
30-Sep 31 753
31-Dec 39 432
71 185
Balance 71 185

Utilities Expense
27-Jul 10 000
28-Jul 2 000
29-Jul 1 500
27-Aug 10 000
28-Aug 2 000
29-Aug 1 500
27-Sep 10 000
28-Sep 2 000
29-Sep 1 500
27-Oct 10 000
28-Oct 2 000
29-Oct 1 500
27-Nov 10 000
28-Nov 2 000
29-Nov 1 500
22-Dec 10 000
23-Dec 2 000
27-Dec 1 500
81 000
Balance 81 000

Depreciation Expense
31-Dec 66 033.33
Balance 66 033.33

Advertising Expense
25-Dec 15 000
Balance 15 000

Interst Expense
11-Sep 20 000
Balance 20 000

Subscription Expense
27-Dec 3 000
Balance 3 000

Other Expense
30-Jul 5001.9
30-Aug 4871.8
30-Sep 5279.9
30-Oct 5575.9
30-Nov 5387.3
30-Dec 5620.9
31737.7
Balance 31737.7
Accounts Payable
90 000 1-Jul
90 000 Balance

Notes Payable
500 000 1-Jul
500 000 Balance

Interest Payable
20 000 30-Dec
20 000 Balance

SSS Payable
17270 30-Jul
17270 30-Aug
17270 30-Sep
17270 30-Oct
17270 30-Nov
17270 30-Dec
103620
103620 Balance

HDMF Payable
6310 30-Jul
6310 30-Aug
6310 30-Sep
6310 30-Oct
6310 30-Nov
6310 30-Dec
37860
37860 Balance

PhilHealth Payable
3675 30-Jul
3675 30-Aug
3675 30-Sep
3675 30-Oct
3675 30-Nov
3675 30-Dec
22050
22050 Balance
Cruz, Capital

1 754 300 1-Jul

60,910.34 31-Dec
1,815,210.34 Balance

Del Valle, Capital

2 480 900 1-Jul
234939.89 31-Dec
2,715,839.89 Balance
Garcia, Capital

1 510 056.45 1-Jul

69611.82 31-Dec
1,579,668.27 Balance

Uy, Capital
1 500 017 1-Jul
69611.82 31-Dec
1,621,988.82 Balance

Sevice Revenues
322 705 30-Jul
314 310 30-Aug
340 635 30-Sep
359 735 30-Oct
347 565 30-Nov
362 640 30-Dec
2 047 590
2 047 590 Balance

Interest Income
12 000 31-Dec
12 000 Balance

Salaries Expense
Commission Expense

Supplies Expense

Utilities Expense

Depreciation Expense
Advertising Expense

Interst Expense

Subscription Expense

Other Expense
 JULY
Date Dr Cr Dr Cr Date
7/1/2016 Cash 6285 8/1/2016
Service Revenue 6285
7/2/2016 Cash 12540 8/2/2016
Service Revenue 12540
7/3/2016 Cash 11395 8/3/2016
Service Revenue 11395
7/4/2016 Cash 7355 8/4/2016
Service Revenue 7355
7/5/2016 Cash 6930 8/5/2016
Service Revenue 6930
7/7/2016 Cash 10720 8/7/2016
Service Revenue 10720
7/8/2016 Cash 10045 8/8/2016
Service Revenue 10045
7/9/2016 Cash 12190 8/9/2016
Service Revenue 12190
7/10/2016 Cash 13470 8/10/2016
Service Revenue 13470
7/11/2016 Cash 7170 8/11/2016
Service Revenue 7170
7/12/2016 Cash 9650 8/12/2016
Service Revenue 9650
7/13/2016 Cash 11925 8/13/2016
Service Revenue 11925
7/14/2016 Cash 10845 8/14/2016
Service Revenue 10845
7/15/2016 Cash 9145 8/15/2016
Service Revenue 9145
7/16/2016 Cash 15500 8/16/2016
Service Revenue 15500
7/17/2016 Cash 14415 8/17/2016
Service Revenue 14415
7/18/2016 Cash 7150 8/18/2016
Service Revenue 7150
7/19/2016 Cash 8720 8/19/2016
Service Revenue 8720
7/20/2016 Cash 10035 8/20/2016
Service Revenue 10035
7/21/2016 Cash 10805 8/21/2016
Service Revenue 10805
7/22/2016 Cash 10700 8/22/2016
Service Revenue 10700
7/23/2016 Cash 14000 8/23/2016
Service Revenue 14000
7/24/2016 Cash 13615 8/24/2016
 Service Revenue 13615
7/25/2016 Cash 7720 8/25/2016
Service Revenue 7720
7/26/2016 Cash 10875 8/26/2016
Service Revenue 10875
7/27/2016 Cash 10665 8/27/2016
Service Revenue 10665
7/28/2016 Cash 11225 8/28/2016
Service Revenue 11225
7/29/2016 Cash 11590 8/29/2016
Service Revenue 11590
7/30/2016 Cash 10705 8/30/2016
Service Revenue 10705
7/31/2016 Cash 15320 8/31/2016
Service Revenue 15320

Total 322705 322705

PURCHASES
Date Dr Cr Dr Cr
7/15/2016 Supplies 38760
Cash 38760
10/25/2016 Supplies 45480
Cash 45480

Salaries Expense
DATE Dr Cr Dr Cr
7/30/2016 Salaries Expense 177108.1
SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 149853
Commision 13277
Cash 13277
8/3/2016 SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255

8/29/2016 Salaries Expense 167308.1

SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 140053
Commision 13843
Cash 13843
9/5/2016 SSS Payable 17270
 HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255

9/30/2016 Salaries Expense 183315.1

SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 156060
Commision 15725
Cash 15725
10/3/2016 SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255

10/29/2016 Salaries Expense 177108.1

SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 149853
Commision 16108
Cash 16108
11/7/2016 SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255

11/29/2016 Salaries Expense 167308.1

SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 140053
Commision 18067
Cash 18067
12/5/2015 SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255

12/30/2016 Salaries Expense 183799.4

SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 156544
Commision 17133
Cash 17133
1/3/2017 SSS Payable 17270
HDMF Payable 6310
PhilHealth Payable 3675
Cash 27255
 AUGUST
Dr Cr Dr Cr
Cash 6145
Service Revenue 6145
Cash 6370
Service Revenue 6370
Cash 4870
Service Revenue 4870
Cash 7065
Service Revenue 7065
Cash 10605
Service Revenue 10605
Cash 10025
Service Revenue 10025
Cash 10630
Service Revenue 10630
Cash 7165
Service Revenue 7165
Cash 6915
Service Revenue 6915
Cash 7095
Service Revenue 7095
Cash 7575
Service Revenue 7575
Cash 9675
Service Revenue 9675
Cash 16250
Service Revenue 16250
Cash 14360
Service Revenue 14360
Cash 13490
Service Revenue 13490
Cash 12090
Service Revenue 12090
Cash 11525
Service Revenue 11525
Cash 9755
Service Revenue 9755
Cash 10300
Service Revenue 10300
Cash 19850
Service Revenue 19850
Cash 16985
Service Revenue 16985
Cash 6955
Service Revenue 6955
Cash 5190
 Service Revenue 5190
Cash 9970
Service Revenue 9970
Cash 11345
Service Revenue 11345
Cash 6935
Service Revenue 6935
Cash 15875
Service Revenue 15875
Cash 16210
Service Revenue 16210
Cash 10345
Service Revenue 10345
Cash 12745
Service Revenue 12745

Total 314310 314310

Restricted Cash
Date Dr Cr Dr
7/30/2016 Restricted Cash 7906.28
Cash

8/29/2016 Restricted Cash 7700.6

Cash

9/30/2016 Restricted Cash 8345.56

Cash

10/29/2016 Restricted Cash 8813.51

Cash

11/29/2016 Restricted Cash 8515.35

Cash

12/30/2016 Restricted Cash 8884.68

Cash

Depreciation Expense
Date Dr Cr Dr
7/30/2016 Depreciation Expense 11005.56
Accumulated Depreciation

8/29/2016 Depreciation Expense 11005.56

Accumulated Depreciation

9/30/2016 Depreciation Expense 11005.56

 Accumulated Depreciation

10/29/2016 Depreciation Expense 11005.56

Accumulated Depreciation

11/29/2016 Depreciation Expense 11005.56

Accumulated Depreciation

12/30/2016 Depreciation Expense 11005.56

Accumulated Depreciation

Utilities Expense
Date Dr Cr Dr
7/30/2016 Utilities Expense 13500
Cash

8/29/2016 Utilities Expense 13500

Cash

9/30/2016 Utilities Expense 13500

Cash

10/29/2016 Utilities Expense 13500

Cash

11/29/2016 Utilities Expense 13500

Cash

12/30/2016 Utilities Expense 13500

Cash
 REVENUE
SEPTEMBER
Date Dr Cr Dr
9/1/2016 Cash 7065
Service Revenue
9/2/2016 Cash 6870
Service Revenue
9/3/2016 Cash 11700
Service Revenue
9/4/2016 Cash 12495
Service Revenue
9/5/2016 Cash 7455
Service Revenue
9/6/2016 Cash 7020
Service Revenue
9/7/2016 Cash 8070
Service Revenue
9/8/2016 Cash 11265
Service Revenue
9/9/2016 Cash 9165
Service Revenue
9/10/2016 Cash 16375
Service Revenue
9/11/2016 Cash 15795
Service Revenue
9/12/2016 Cash 11925
Service Revenue
9/13/2016 Cash 12665
Service Revenue
9/14/2016 Cash 11155
Service Revenue
9/15/2016 Cash 12190
Service Revenue
9/16/2016 Cash 10540
Service Revenue
9/17/2016 Cash 15100
Service Revenue
9/18/2016 Cash 16655
Service Revenue
9/19/2016 Cash 10500
Service Revenue
9/20/2016 Cash 8215
Service Revenue
9/21/2016 Cash 8665
Service Revenue
9/22/2016 Cash 10500
Service Revenue
9/23/2016 Cash 12720
 Service Revenue
9/24/2016 Cash 17265
Service Revenue
9/25/2016 Cash 16480
Service Revenue
9/26/2016 Cash 11930
Service Revenue
9/27/2016 Cash 11415
Service Revenue
9/28/2016 Cash 10665
Service Revenue
9/29/2016 Cash 10770
Service Revenue
9/30/2016 Cash 8005
Service Revenue

Total 340635

Other Expenses
Cr Date Dr
7/30/2016 Other Expense
7906.28 Cash

8/29/2016 Other Expense

7700.6 Cash

9/30/2016 Other Expense

8345.56 Cash

10/29/2016 Other Expense

8813.51 Cash

11/29/2016 Other Expense

8515.35 Cash

12/30/2016 Other Expense

8884.68 Cash

Cr 11/27/2016 Advertising Expense

Dues and subscription
11005.56

12/30/2016 Interest Expense

11005.56
11005.56

11005.56

11005.56

11005.56

Cr

13500

13500

13500

13500

13500

13500
200932.4
 OCTOBER
Cr Date Dr Cr Dr Cr
10/1/2016 Cash 18760
7065 Service Revenue 18760
10/2/2016 Cash 16665
6870 Service Revenue 16665
10/3/2016 Cash 8130
11700 Service Revenue 8130
10/4/2016 Cash 8765
12495 Service Revenue 8765
10/5/2016 Cash 7305
7455 Service Revenue 7305
10/6/2016 Cash 7430
7020 Service Revenue 7430
10/7/2016 Cash 13535
8070 Service Revenue 13535
10/8/2016 Cash 17790
11265 Service Revenue 17790
10/9/2016 Cash 17695
9165 Service Revenue 17695
10/10/2016 Cash 7325
16375 Service Revenue 7325
10/11/2016 Cash 8255
15795 Service Revenue 8255
10/12/2016 Cash 7730
11925 Service Revenue 7730
10/13/2016 Cash 8390
12665 Service Revenue 8390
10/14/2016 Cash 8955
11155 Service Revenue 8955
10/15/2016 Cash 16020
12190 Service Revenue 16020
10/16/2016 Cash 17155
10540 Service Revenue 17155
10/17/2016 Cash 10965
15100 Service Revenue 10965
10/18/2016 Cash 9215
16655 Service Revenue 9215
10/19/2016 Cash 7505
10500 Service Revenue 7505
10/20/2016 Cash 8575
8215 Service Revenue 8575
10/21/2016 Cash 12690
8665 Service Revenue 12690
10/22/2016 Cash 18510
10500 Service Revenue 18510
10/23/2016 Cash 18225
 12720 Service Revenue 18225
10/24/2016 Cash 10555
17265 Service Revenue 10555
10/25/2016 Cash 8510
16480 Service Revenue 8510
10/26/2016 Cash 8760
11930 Service Revenue 8760
10/27/2016 Cash 8575
11415 Service Revenue 8575
10/28/2016 Cash 10510
10665 Service Revenue 10510
10/29/2016 Cash 19335
10770 Service Revenue 19335
10/30/2016 Cash 17900
8005 Service Revenue 17900

340635 Total 359735 359735

Other Expenses
Cr Dr Cr
5001.93
Cash 5001.93

4871.81
Cash 4871.81

5279.85
Cash 5279.85

5575.9
Cash 5575.9

5387.26
Cash 5387.26

5620.92
Cash 5620.92

15000
3000
Cash 18000

20000
Interest Payable 20000
 NOVEMBER DECEMBER
Date Dr Cr Dr Cr Date Dr
11/2/2016 Cash 12530 12/1/2016 Cash
Service Revenue 12530 Service Revenue
11/3/2016 Cash 9995 12/2/2016 Cash
Service Revenue 9995 Service Revenue
11/4/2016 Cash 14295 12/3/2016 Cash
Service Revenue 14295 Service Revenue
11/5/2016 Cash 17885 12/4/2016 Cash
Service Revenue 17885 Service Revenue
11/6/2016 Cash 24160 12/5/2016 Cash
Service Revenue 24160 Service Revenue
11/7/2016 Cash 11405 12/6/2016 Cash
Service Revenue 11405 Service Revenue
11/8/2016 Cash 10240 12/7/2016 Cash
Service Revenue 10240 Service Revenue
11/9/2016 Cash 10175 12/8/2016 Cash
Service Revenue 10175 Service Revenue
11/10/2016 Cash 11125 12/9/2016 Cash
Service Revenue 11125 Service Revenue
11/11/2016 Cash 14765 12/10/2016 Cash
Service Revenue 14765 Service Revenue
11/12/2016 Cash 20890 12/11/2016 Cash
Service Revenue 20890 Service Revenue
11/13/2016 Cash 17805 12/12/2016 Cash
Service Revenue 17805 Service Revenue
11/14/2016 Cash 10150 12/13/2016 Cash
Service Revenue 10150 Service Revenue
11/15/2016 Cash 8885 12/14/2016 Cash
Service Revenue 8885 Service Revenue
11/16/2016 Cash 9215 12/15/2016 Cash
Service Revenue 9215 Service Revenue
11/17/2016 Cash 7905 12/16/2016 Cash
Service Revenue 7905 Service Revenue
11/18/2016 Cash 9105 12/17/2016 Cash
Service Revenue 9105 Service Revenue
11/19/2016 Cash 13070 12/18/2016 Cash
Service Revenue 13070 Service Revenue
11/20/2016 Cash 10455 12/19/2016 Cash
Service Revenue 10455 Service Revenue
11/21/2016 Cash 8025 12/20/2016 Cash
Service Revenue 8025 Service Revenue
11/22/2016 Cash 10745 12/21/2016 Cash
Service Revenue 10745 Service Revenue
11/23/2016 Cash 10585 12/22/2016 Cash
Service Revenue 10585 Service Revenue
11/24/2016 Cash 9415 12/23/2016 Cash
 Service Revenue 9415 Service Revenue
11/25/2016 Cash 11095 12/24/2016 Cash
Service Revenue 11095 Service Revenue
11/26/2016 Cash 14125 12/25/2016 Cash
Service Revenue 14125 Service Revenue
11/27/2016 Cash 15125 12/26/2016 Cash
Service Revenue 15125 Service Revenue
11/28/2016 Cash 12800 12/27/2016 Cash
Service Revenue 12800 Service Revenue
11/29/2016 Cash 11595 12/28/2016 Cash
Service Revenue 11595 Service Revenue
12/29/2016 Cash
Service Revenue
12/30/2016 Cash
Service Revenue

Total 347565 347565 Total

 DECEMBER
Cr Dr Cr
14045
Service Revenue 14045
13535
Service Revenue 13535
18175
Service Revenue 18175
16840
Service Revenue 16840
9550
Service Revenue 9550
8925
Service Revenue 8925
9810
Service Revenue 9810
6735
Service Revenue 6735
9195
Service Revenue 9195
13390
Service Revenue 13390
14335
Service Revenue 14335
13975
Service Revenue 13975
9035
Service Revenue 9035
10780
Service Revenue 10780
13960
Service Revenue 13960
10875
Service Revenue 10875
15850
Service Revenue 15850
15875
Service Revenue 15875
13485
Service Revenue 13485
13775
Service Revenue 13775
13000
Service Revenue 13000
15425
Service Revenue 15425
15340
 Service Revenue 15340
6960
Service Revenue 6960
5065
Service Revenue 5065
11190
Service Revenue 11190
11575
Service Revenue 11575
12380
Service Revenue 12380
10545
Service Revenue 10545
9015
Service Revenue 9015

Total 362640 362640 Total 2047590

 Gentle Hands Spa & Wellness Center
INCOME STATEMENT
For the six months ended December 31, 2016

Revenue
Services Rendered 2,047,590.00
Total Revenue 2,047,590.00
Less : Expenses
Operating:
Depreciation Expense 66,033.33
Utilities Expense 81,000.00
Supplies Expense 71185
Salaries Expense 892,416.90
Commissions 94,153.00
Advertising Expense 15,000.00
Dues and Subscription Expense 3,000.00
SSS 103,620.00
PhilHealth 22,050.00
HDMF 37,860.00 1,386,318.23
Operating Income 661,271.77
Add: Other Income
Interest Income 12,000.00
Total 673,271.77
Other Expenses 31,737.67
Interest Expense 20,000.00 51,737.67
Income Before Taxes 621,534.10
Income Tax Expense 186,460.23
Net Income 435,073.87
 GENTLE HANDS SPA & WELLNESS CENTER
STATEMENT OF FINANCIAL POSITION
as of December 31, 2016

ASSETS
Current Assets
Cash 921,957.57
Restricted Cash 77,809.98
Supplies 38,055.00
Short Term Investment 300,000.00
Interest Receivable 12,000.00
Total Current Assets
Non Current Assets
Land 4,800,000.00
Building 2,500,000.00
Less: Accumulated Depreciation-Building 460,000.00 2,040,000.00
Furnitures and Fixtures 435,000.00
Less:Accumulated Depreciation-Furnitures and
Fixtures 174,000.00 261,000.00
Equipment 264,000.00
Less:Accumulated Depreciation-Equipment 158,400.00 105,600.00
Total Non Current Assets
Total Assets

LIABILITIES
Current Liabilities
Accounts Payable 90,000.00
Notes Payable 500,000.00
Interest Payable 20,000.00
SSS Payable 17,270.00
HDMF Payable 6,310.00
PhilHealth Payable 3,675.00
Tax Payable 186,460.23
Total Current Liabilities
Total Liabilities
EQUITY
Cruz, Capital 1,815,210.34
Del Valle, Capital 2,715,839.89
Garcia, Capital 1,579,668.27
Uy, Capital 1,621,988.82
Total Equity
Total Liabilities and Equity
 1,349,822.55

7,206,600.00
8,556,422.55

823,715.23

7,732,707.32
8,556,422.55
 Gentle Hands Spa and Wellness Center
Statement of Cash Flows
for the year then ended December 31, 2016

Cash Flows from Operating Activities:

Operating Income 733956.77
Depreciation Expense 66033.33
Supplies -84240
Net Cash Flows From Operating 715750

Cash Flows from Investing Activities:

Short term investment -300000
Net Cash Flows From Investing -300000

Net Increase Cash Flows 415750.1

Beginning Cash Blance 556373.5
972124
Restricted Cash 50165.98
Cash, December 31 921958
Center

31, 2016