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    Note 15 Depreciation

    Uploaded by

    Jerica Dacanay
    1) The document contains notes related to depreciation expenses, salaries, consignment delivery expenses, and financial statements for a farm from 2018-2022. 2) It provides details on depreciation schedules for farm equipment, solar systems, and furniture over their estimated lives. 3) Salary information is presented for key farm roles along with annual salary expenses. 4) Consignment delivery expenses and travel costs are shown on a monthly and annual basis. 5) Financial statements include the statement of financial position, statement of cash flows, and statement of financial performance for the years presented.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Note 15 Depreciation

    Uploaded by

    Jerica Dacanay
    32 views7 pages
    1) The document contains notes related to depreciation expenses, salaries, consignment delivery expenses, and financial statements for a farm from 2018-2022. 2) It provides details on depreciation schedules for farm equipment, solar systems, and furniture over their estimated lives. 3) Salary information is presented for key farm roles along with annual salary expenses. 4) Consignment delivery expenses and travel costs are shown on a monthly and annual basis. 5) Financial statements include the statement of financial position, statement of cash flows, and statement of financial performance for the years presented.

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    1) The document contains notes related to depreciation expenses, salaries, consignment delivery expenses, and financial statements for a farm from 2018-2022. 2) It provides details on depreciation schedules for farm equipment, solar systems, and furniture over their estimated lives. 3) Salary information is presented for key farm roles along with annual salary expenses. 4) Consignment delivery expenses and travel costs are shown on a monthly and annual basis. 5) Financial statements include the statement of financial position, statement of cash flows, and statement of financial performance for the years presented.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    32 views7 pages

    Note 15 Depreciation

    Uploaded by

    Jerica Dacanay
    1) The document contains notes related to depreciation expenses, salaries, consignment delivery expenses, and financial statements for a farm from 2018-2022. 2) It provides details on depreciation schedules for farm equipment, solar systems, and furniture over their estimated lives. 3) Salary information is presented for key farm roles along with annual salary expenses. 4) Consignment delivery expenses and travel costs are shown on a monthly and annual basis. 5) Financial statements include the statement of financial position, statement of cash flows, and statement of financial performance for the years presented.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 7

    Note 11:

    Depreciation
    QT Estimated Yearly Annually
    Y Cost Life Depreciation 2018 2019 2020 2021 2022
    Farm Equipment
    1.0 30,000.0 3,000.0 6,000.0 12,000.0 15,000.0
    Solar Water Pump 10
    0 0 3,000.00 0 0 9,000.00 0 0
    Solar Lighting System 2.0 5.00
    (set of 6) 0 1,300.00 260.00 260.00 520.00 780.00 1,040.00 1300.00
    31,300. 3,260.0 6,520.0 9,780.0 13,040. 16,300.
    Total
    00 3,260.00 0 0 0 00 00
    28,040. 24,780. 21,520.0 18,260.0 15,000.0
    Bookvalue 00 00 0 0 0
    Furniture and
    Fixtures
    6.0
    Chair 1,896.00
    0 10.00 189.60 189.60 379.20 568.80 758.40 948.00
    2.0
    Table 1,200.00
    0 10.00 120.00 120.00 240.00 360.00 480.00 600.00
    3,096.0 1,238.4 1,548.0
    Total
    0 309.60 309.60 619.20 928.80 0 0
    34,396. 3,569. 7,139.2 10,708. 14,278. 17,848.
    Total Depreciation 00 3,569.00 00 0 80 40 00

    Note 13: Consignment Delivery Expense

    Per Annually
    Month
    2017 2018 2019 2020 2021

    Travel Expense 600 7,200 7,200 7,200 7,200 7,200

    Total 7,200 7,200 7,200 7,200 7,200


    Note 12 Salary
    Reporting Salary Monthly
    Position Days Rate Basic Annually
    Salary 2018 2019 2020 2021 2022
    Manager 312 250 6,500.00 78,000.00 78,000.00 78,000.00 78,000.00 78,000.00
    Caretaker
    Maintenace 312 243 6,318.00 75,816.00 75,816.00 75,816.00 75,816.00 75,816.00
    Crop Grower 1 312 243 6,318.00 75,816.00 75,816.00 75,816.00 75,816.00 75,816.00
    Total 19,136.00 229,632.00 229,632.00 229,632.00 229,632.00 229,632.00
    Statement of Financial Position
    As of January 30, 2016-2020

    Notes 2018 2019 2020 2021 2022


    Current Assets:

    Cash
    178,948.3
    0
    Total Current Assets:
    Non-current Assets (net)
    Furniture and Fixture 2 2,786.40 2,476.80 2,167.20 1,857.60 1,548.00
    Equipment 2 28,040.00 24,780.00 21,520.00 18,260.00 15,000.00
    Supplies 1,688.00
    Garden tools
    Total Non-current Assets: 32,514.40 27,256.80 23,687.20 20,117.60 16,548.00
    TOTAL ASSETS
    211,462.7
    0

    Liabilities
    SSS payable 8 16,888.20
    PHIC payable 9 3,300.00
    Income tax payable 2,465.11
    Total Liabilities 22,653.31

    Equity
    Jerica Dacanay Capital, beginning 150,000.00 281,983.94 410,821.48 536,209.52 705,326.01
    Add: Net Income 26,281.47
    Less: Drawings 5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
    Total Owner's Equity
    176,281.4
    7
    TOTAL LIABILITY AND EQUITY
    198,934.7
    8

    Statement of Cash Flows


    For the fiscal year ended January 30, 2017-2021

    Note
    2017 2018 2019 2020 2021
    s
    Cash Flows From Operating
    Activities
    Cash Inflow
    Cash sales 7 429,436.00
    Total Cash Inflow 429,436.00
    Cash Outflow
    229,632.0
    Payment for Salaries 9
    229,632.00 229,632.00 0 229,632.00 229,632.00
    Payment for SSS 11 16,888.20
    Payment for PHIC 12 3,300.00
    Payment of Taxes and licenses 6 2,310.00
    Payment of Advertising expenses 10 652.00 652.00 652.00 652.00 652.00
    Payment of Farm Supplies 17 1,688.00 1,688.00 1,688.00 1,688.00 1,688.00
    Payment for Delivery of Consignment 18 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00
    Payment of rent 48,000.00
    309,670.
    Total Cash Out Flow
    00
    Total Cash Out Flow From Operating 119,765.
    Activities 80

    Cash Flows From Investing


    Activities
    Acquisition of Farm Equipment 3 33,755.00 - - - -
    Acquisition of Furniture and Fixtures 4 3,096.00 - - - -
    Nipa House and Greenhouse 5 53,120.00 - - - -
    Chicken Cage 846.50 - - - -
    Net Cash Flow from Investing Activities 90,817.50

    Cash Flows From Financing


    Activities
    Jerica Dacanay, Capital 150,000.00
    - - - -
    Withdrawals 5,000.00 10,000.00 10,000.00 10,000.00 10,000.00
    150,000.0
    Net Cash Flow from Financing Activities -10,000.00 -10,000.00 -10,000.00 -10,000.00
    0

    178,948.
    Net Cash Provided
    30
    Cash, beginning of the year 225,712.30
    178,948.
    Cash, end of year
    30
    Note 10 Advertising
    Unit Price Annually
    Promotions Quantity
    (PER
    2017 2018 2019 2020 2021
    PIECE)
    Flyers 50 8 400.00 400.00 400.00 400.00 400.00

    Tarpaulin 5 45 225.00 225.00 225.00 225.00 225.00

    Total 625.00 625.00 625.00 625.00 625.00


    Table 16
    Statement of Financial Performance
    For the year ended January 30, 2017-2021

    Notes 2018 2019 2020 2021 2022


    Sales 7 429,436.00
    Gross Profit 429,436.00
    Operating Expense:
    Taxes and Licenses 6 2,310.00
    Depreciation 15 3,569.00
    Salaries expense 9 229,632.00
    SSS contribution 11 16,888.20
    PHIC contribution 12 3,300.00
    Advertising expenses 10 625.00
    Construction 4 90,817.50
    General Administrative Expense:
    Rent Expense 48,000.00
    Consignment Expenses:
    Delivery 18 7,200
    Total Operating Expense: 402,341.70

    Income Before Tax 27,094.30


    Less: Provision for Income Tax 762.19
    Net Income after income tax 26,281.47

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