Promethean Manufacturing Company

Computations of Payroll
Year 1 - 2015
POSITION

General Manager
Production Supervisor
Marketing Supervisor
Finance and Accounting Supervisor
Bookkeeper
Sales Manager
Supervisor
Production Worker1
Production Worker2
Production Worker3
Production Worker4
Driver/Helper
Monthly Totals

STATUS

ME2
ME3
S
ME1
S
ME1
ME1
S
S2
ME
ME1
ME1

Annual Grand Totals

GROSS
PAY
45,000
30,000
30,000
30,000
20,000
25,000
15,000
9,120
9,120
9,120
9,120
9,120
240600
12
2887200

SSS

581.30
581.30
581.30
581.30
581.30
581.30
545.00
327.00
327.00
327.00
327.00
327.00
5667.80
12
68013.60

PHIL
HEALTH
437.50
375.00
375.00
375.00
250.00
312.50
187.50
112.50
112.50
112.50
112.50
112.50
2875.00
12
34500

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

WITHOLDING
TOTAL
TAX
DEDUCTION
5,999.90
2,448.00
2,450.00
2,125.10
1,510.50
2,239.50
725.06
399.20
39.35
399.20
206.87
206.87
18749.55
12
224994.6

7118.70
3504.30
3,506.30
3,181.40
2,441.80
3,233.30
1,557.56
938.70
1,517.55
938.70
746.37
746.37
2,431.44
12
29177.28

NET PAY

37,881.30
26,495.70
11,385.60
26,818.60
17,558.20
21,766.70
13,442.44
8,181.30
7,602.45
8,181.30
8,373.63
8,373.63
24,928.56
12
299142.72

SSS

1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,105.00
663.00
663.00
663.00
663.00
663.00
11492.20
12
137906.40

EC

30
30
30
30
30
30
30
10
10
10
10
10
260
12
3120

PHIL
HEALTH
437.50
375.00
375.00
375.00
250.00
312.50
187.50
112.50
112.50
112.50
112.50
112.50
2875.00
12
34500

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

Year 2 -2016
POSITION

General Manager
Production Supervisor
Marketing Supervisor
Finance and Accounting Supervisor
Bookkeeper
Sales Manager
Supervisor
Production Worker1
Production Worker2
Production Worker3
Production Worker4
Driver/Helper
Monthly Totals
Annual Grand Totals

STATUS

ME2
ME3
S
ME1
S
ME1
ME1
S
S2
ME
ME1
ME1

GROSS
PAY
49,500
33,000
33,000
33,000
22,000
27,500
16,500
10,032
10,032
10,032
10,032
10,032
264,660
12
3175920

SSS

581.30
581.30
581.30
581.30
581.30
581.30
581.30
363.30
363.30
363.30
363.30
363.30
5885.60
12
70627.20

PHIL
HEALTH
437.50
412.50
412.50
412.50
275.00
337.50
200.00
125.00
125.00
125.00
125.00
125.00
3112.50
12
37350

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

WITHOLDING
TOTAL
TAX
DEDUCTION
7,349.90
1,775.00
3,650.00
3,025.10
2,010.50
2,864.50
1,025.07
536.00
90.67
536.00
223.55
223.55
23,309.84
12
279718.08

8,468.70
2,868.80
4,743.80
4,118.90
2,966.80
3,883.30
1,906.37
1,124.30
678.97
1,124.30
811.85
811.85
33,507.94
12
402095.28

NET PAY

41,031.30
30,131.20
28,256.20
28,881.10
19,033.20
23,616.70
14,593.63
8,907.70
9,353.03
8,907.70
9,220.15
9220.15
231,152.06
12
2773824.72

SSS

1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
736.70
736.70
736.70
736.70
736.70
11934.40
12
143212.80

EC

30
30
30
30
30
30
30
10
10
10
10
10
260
12
3120

PHIL
HEALTH
437.50
412.50
412.50
412.50
275.00
337.50
200.00
125.00
125.00
125.00
125.00
125.00
3112.50
12
37350

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

YEAR 3 - 2017
POSITION

General Manager
Production Supervisor
Marketing Supervisor
Finance and Accounting Supervisor
Bookkeeper
Sales Manager
Supervisor
Production Worker1
Production Worker2
Production Worker3
Production Worker4
Driver/Helper
Monthly Totals

STATUS

ME2
ME3
S
ME1
S
ME1
ME1
S
S2
ME
ME1
ME1

Annual Grand Totals

YEAR 4 - 2018
POSITION

General Manager
Production Supervisor
Marketing Supervisor
Finance and Accounting Supervisor
Bookkeeper
Sales Manager
Supervisor
Production Worker1
Production Worker2
Production Worker3
Production Worker4
Driver/Helper
Monthly Totals

STATUS

ME2
ME3
S
ME1
S
ME1
ME1
S
S2
ME
ME1
ME1

Annual Grand Totals

YEAR 5 - 2019
POSITION

STATUS

GROSS
PAY
54,450
36,300
36,300
36,300
24,200
30,250
18,150
11,035
11,035
11,035
11,035
11,035
291,126
12
3493512

GROSS
PAY
59,895
39,930
39,930
39,930
26,620
33,275
19,965
12,139
12,139
12,139
12,139
12,139
320,239
12
3842863.2

GROSS

SSS

581.30
581.30
581.30
581.30
581.30
581.30
581.30
399.70
399.70
399.70
399.70
399.70
6067.60
12
72811.20

SSS

581.30
581.30
581.30
581.30
581.30
581.30
581.30
436.00
436.00
436.00
436.00
436.00
6249.10
12
74989.20

SSS

PHIL
HEALTH
437.50
437.50
437.50
437.50
300.00
375.00
225.00
137.50
137.50
137.50
137.50
137.50
3337.50
12
40050

PHIL
HEALTH
437.50
437.50
437.50
437.50
325.00
412.50
237.50
150.00
150.00
150.00
150.00
150.00
3475.00
12
41700

PHIL

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

PAG-

WITHOLDING
TOTAL
TAX
DEDUCTION
4,757.33
2,765.00
4,640.00
4,015.10
2,560.50
2,200.10
527.00
348.67
61.55
348.67
374.00
374.00
22,971.92
12
275663.04

5,876.13
3,883.80
5,758.80
5,133.90
3,541.80
3,256.40
1,433.30
985.87
698.75
985.87
1011.20
1011.20
33,577.02
12
402924.24

WITHOLDING
TOTAL
TAX
DEDUCTION
6,488.21
3,854.00
5,729.00
5,104.10
2,870.00
3,107.60
980.75
569.47
227.15
569.47
152.87
152.87
29,805.49
12
357,665.88

WITHOLDING

7,607.01
4,972.80
6,847.80
6,222.90
3,876.30
4,201.40
1,899.55
1,255.47
913.15
1,255.47
838.87
#REF!
360,968
12
4331618.28

TOTAL

NET PAY

48,573.87
32,416.20
30,541.20
31,166.10
20,658.20
26,993.60
16,716.70
10,049.33
10,336.45
10,049.33
10024.0
10024.0
257548.98
12
3090587.76

NET PAY

52,287.99
34,957.20
33,082.20
33,707.10
22,743.70
29,073.60
18,065.45
10,883.25
11,225.57
10,883.25
11,299.85
12,139
280,347.88
12
3364174.56

NET PAY

SSS

1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
810.30
810.30
810.30
810.30
810.30
12302.40
12
147628.80

SSS

1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
884.00
884.00
884.00
884.00
884.00
12670.90
12
152050.80

SSS

EC

30
30
30
30
30
30
30
10
10
10
10
10
260
12
3120

EC

30
30
30
30
30
30
30
10
10
10
10
10
260
12
3120

EC

PHIL
HEALTH
437.50
437.50
437.50
437.50
300.00
375.00
225.00
137.50
137.50
137.50
137.50
137.50
3337.50
12
40050

PHIL
HEALTH
437.50
437.50
437.50
437.50
325.00
412.50
237.50
150.00
150.00
150.00
150.00
150.00
3475.00
12
41700

PHIL

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

PAGIBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

PAG-

PAY
General Manager
Production Supervisor
Marketing Supervisor
Finance and Accounting Supervisor
Bookkeeper
Sales Manager
Supervisor
Production Worker1
Production Worker2
Production Worker3
Production Worker4
Driver/Helper
Monthly Totals
Annual Grand Totals

ME2
ME3
S
ME1
S
ME1
ME1
S
S2
ME
ME1
ME1

65,885
43,923
43,923
43,923
29,282
36,603
21,962
13,353
13,353
13,353
13,353
13,353
352,262
12
4227149.52

HEALTH
581.30
581.30
581.30
581.30
581.30
581.30
581.30
490.50
490.50
490.50
490.50
490.50
6521.60
12
78259.20

437.50
437.50
437.50
437.50
362.50
437.50
262.50
162.50
162.50
162.50
162.50
162.50
3625.00
12
43500

IBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

TAX
8,416.53
5,051.90
6,926.90
6,302.00
2,564.30
4,106.00
1,480.00
812.27
409.25
812.27
432.07
432.07
37,745.56
12
452946.72

DEDUCTION
9535.33
6170.70
8,045.70
7,420.80
3,608.10
5,224.80
2,423.80
1,565.27
1,162.25
1,565.27
1,185.07
1,185.07
49092.16
12
589105.92

HEALTH
56,349
37,752.30
35,877.30
36,502.20
25,673.90
31,377.70
19,537.70
11,787.32
12,190.34
11,787.32
12,167.52
12,167.52
303,170
12
3638043.6

1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
1,178.70
994.50
994.50
994.50
994.50
994.50
13223.40
12
158680.80

30
30
30
30
30
30
30
10
10
10
10
10
260
12
3120

437.50
437.50
437.50
437.50
362.50
437.50
262.50
162.50
162.50
162.50
162.50
162.50
3625.00
12
43500

IBIG
100
100
100
100
100
100
100
100
100
100
100
100
1200
12
14400

TOTAL
CONTRIBUTION
1746.20
1683.70
1683.70
1683.70
1558.70
1621.20
1422.50
885.50
885.50
885.50
885.50
885.50
15827.20
12
189926.40

TOTAL
CONTRIBUTION
1746.20
1721.20
1721.20
1721.20
1583.70
1646.20
1508.70
971.70
971.70
971.70
971.70
971.70
16506.90
12
198082.80

TOTAL
CONTRIBUTION
1746.20
1746.20
1746.20
1746.20
1608.70
1683.70
1533.70
1057.8
1,057.80
1,057.80
1,057.80
1,057.80
17,099.90
12
205198.80

TOTAL
CONTRIBUTION
1746.20
1746.20
1746.20
1746.20
1633.70
1721.20
1546.20
1144.00
1144.00
1144.00
1144.00
1144.00
17605.90
12.00
211270.80

TOTAL

CONTRIBUTION
1746.20
1746.20
1746.20
1746.20
1671.20
1746.20
1571.20
1267.00
1267.00
1267.00
1267.00
1267.00
18308.40
12
219700.80

Promethean Manuacturing Company

Computation of Depreciation (Straight Line Method)
Office Machineries and Equipment
Computer
Printer
Stereo
Bundy Clock
CCTV Camera
Water Purifier
Aircondition
TOTAL
PMC Machineries and Equipments

Cost
22,500.00
3,450.00
3,200.00
2,750.00
22,500.00
4,875.00
24,500.00
83,775.00

Quantity
3
3
1
1
1
2
1

Total Cost
67,500.00
10,350.00
3,200.00
2,750.00
22,500.00
9,750.00
24,500.00
140,550.00

Hydraulic Press
Mixing/Heating Kettle
Manual Filling Machine
Double sink SS Movable
SS Buckets
Plastic Crates
Air-conditioned
Electric Fan
Pick Up Van
Generator
Fire Extinguisher
Other Tools & Equipments
TOTAL
Furniture and Fixtures

145,000.00
145,000.00
45,000.00
15,000.00
2,000.00
200.00
22,500.00
1,200.00
300,000.00
125,000.00
2,500.00
40,000.00
843,400.00

1
2
1
1
6
20
1
5
1
1
4
1

145,000.00
290,000.00
45,000.00
15,000.00
12,000.00
4,000.00
22,500.00
6,000.00
300,000.00
125,000.00
10,000.00
10,000.00
984,500.00

Computer Table
Office Chair
Sofa (set)
Working Table
Monoblock Chair
Long Table
Storage Cabinets
Filing Cabinets
Office Table
Accessories
TOTAL
TOTAL FIXED ASSETS

850.00
550.00
8,000.00
5,000.00
100.00
8,750.00
12,000.00
9,500.00
758.00
28,375.00
73,883.00
1001058

3
8
2
3
5
1
4
3
8
1

2,550.00
4,400.00
16,000.00
15,000.00
500.00
8,750.00
48,000.00
28,500.00
6,064.00
28,375.00
158,139.00
1,283,189.00

Depreciation
Leasehold Improvement (labor and employment)

100,000.00

Life

Depreciation
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

Year 1
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

Year 2
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

Year 3
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

Year 4
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

Year 5
14,850.00
2,277.00
704.00
605.00
4,950.00
2,145.00
5,390.00
30,921.00

5
5
5
5
5
5
5
5
5
5
5
5

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

31,900.00
63,800.00
9,900.00
3,300.00
26,400.00
880.00
4,950.00
1,320.00
66,000.00
27,500.00
2,200.00
2,200.00
240,350.00

5
5
5
5
5
5
5
5
5
5

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

561.00
968.00
3,520.00
3,300.00
110.00
1,925.00
10,560.00
6,270.00
1,334.08
6,242.50
34,790.58
275,140.58

20,000.00

20,000.00

20,000.00

20,000.00

20,000.00

20,000.00

5
5
5
5
5
5
5

SCHEDULE 4 Purchases

Inventory, beginning
Add: Purchases
Inventory available for use
Less:Inventory, ending
Purchases

Year 1
0
5,900,169.60
5,900,169.60
491,680.80
5,408,488.80

Year 2
491,680.80
6,490,186.56
6,981,867.36
581,822.28
6,400,045.08

Year 3
581,822.28
7,139,205.22
7,721,027.50
643,418.96
7,077,608.54

Year 4
643,418.96
7,853,125.74
8,496,544.70
708,045.39
7,788,499.30

Year 5
708,045.39
8,638,438.31
9,346,483.70
778,873.64
8,567,610.06

Year 1
144,000.00
60,000.00
23,988.00
241,670.00
20,139.17
489,797.17

Year 2
158,400.00
66,000.00
26,386.80
240,350.00
20,029.17
511,165.97

Year 3
174,240.00
72,600.00
29,025.48
240,350.00
20,029.17
536,244.65

Year 4
191,664.00
79,860.00
31,928.03
240,350.00
20,029.17
563,831.19

Year 5
210,830.40
87,846.00
35,120.83
240,350.00
20,029.17
594,176.40

Year 1
1,374,392.45
708,020.35
666,372.10

Year 2
1,511,831.69
778,822.39
733,009.31

Year 3
1,663,014.86
856,704.63
806,310.24

Year 4
1,829,316.35
942,375.09
886,941.26

Year 5
2,012,247.98
1,036,612.60
975,635.39

Year 1
0
9,000.00
9,000.00
750.00
8,250.00

Year 2
750.00
9,900.00
10,650.00
887.50
9,762.50

Year 3
887.50
10,890.00
11,777.50
981.46
10,796.04

Year 4
981.46
11,979.00
12,960.46
1080.04
11,880.42

Year 5
1,080.04
13,176.90
14,256.94
1188.08
13,068.86

SCHEDULE 5 Overhead

Light
Water
Telephone with DSL
Depreciation - Promethean
Repairs and Maintenance
Overhead
SCHEDULE 6 Value Added Tax

Output Tax
Less: Input Tax
Value Added Tax Payable
SCHEDULE 7 Prepaid Expenses

Office Supplies Expense, beginning

Add: Supplies on hand
Total
Less Supplies on hand, ending
Payment for Office Supplies

Year 1
0
3,700.00
3,700.00
308.33
3,391.67

Year 2
308.33
4,070.00
4,378.33
364.86
4,013.47

Year 3
364.86
4,477.00
4,841.86
403.49
4,438.37

Year 4
403.49
4,924.70
5,328.19
444.02
4,884.17

Year 5
444.02
5,417.17
5,861.19
488.43
5,372.75

Accounts Payable- Previous Yr.

Purchases
Total
Accounts Payable - Present Yr.
Payments to Creditors

Year 1
0
5,900,169.60
5,900,169.60
491,680.80
5,408,488.80

Year 2
491,680.80
6,490,186.56
6,981,867.36
581,822.28
6,400,045.08

Year 3
581,822.28
7,139,205.22
7,721,027.50
643,418.96
7,077,608.54

Year 4
643,418.96
7,853,125.74
8,496,544.70
643,418.96
7,853,125.74

Year 5
643,418.96
8,638,438.31
9,281,857.27
708,045.39
8,573,811.88

SSS Contributions Payable - Previous Yr.

SSS Contributions - Employee
SSS Contributions - Employer
Total
SSS Contributions Payable -Present Yr.
Payments to SSS Contributions

Year 1
0
68,013.60
137,906.40
205,920.00
17,160.00
188,760.00

Year 2
17,160.00
70,627.20
143,212.80
231,000.00
19,250.00
211,750.00

Year 3
19,250.00
72,811.20
157,352.40
249,413.60
20,784.47
228,629.13

Year 4
20,784.47
74,989.20
152,050.80
247,824.47
20,652.04
227,172.43

Year 5
20,784.47
78,259.20
158,680.80
257,724.47
21,477.04
236,247.43

EC Contributions Payable - Previous Yr.

EC Contributions - Employer
Total
EC Contributions Payable - Present Yr.
Payments to EC Contributions

Year 1
0
3,120.00
3,120.00
260.00
2,860.00

Year 2
260.00
3,120.00
3,380.00
281.67
3,098.33

Year 3
281.67
3,120.00
3,401.67
283.47
3,118.19

Year 4
283.47
3,120.00
3,403.47
283.62
3,118.19

Year 5
283.62
3,120.00
3,403.62
283.64
3,119.99

Insurance Expense, beginning

Add: Prepaid Insurance
Total
Less Prepaid Insurance, ending
Payment for Insurance Expense
SCHEDULE 8 Payment of Liabilities

Phil-Health Contributions Payable -Present Yr.

Phil-Health Contributions-Employee
Phil-Health Contributions-Employer
Total
Phil-Health Contributions Payable - Present Yr.
Payments to Phil-Health Contributions

Year 1
0
34,500.00
34,500.00
69,000.00
5,750.00
63,250.00

Year 2
5,750.00
37,350.00
37,350.00
80,450.00
6,704.17
73,745.83

Year 3
6,704.17
40,050.00
40,050.00
86,804.17
7,233.68
79,570.49

Year 4
7,233.68
41,700.00
41,700.00
90,633.68
7,552.81
83,080.87

Year 5
7,552.81
43,500.00
43,500.00
94,552.81
7,879.40
86,673.41

Pag-Ibig Contributions-Payable - Present Yr.

Pag-Ibig Contributions - Employee
Pag-Ibig Contributions- Employer
Total
Pag-Ibig Contributions Payable Present Yr.
Payments to Pag-Ibig Contributions

Year 1
0
14,400.00
14,400.00
28,800.00
2,400.00
26,400.00

Year 2
2,400.00
14,400.00
14,400.00
31,200.00
2,600.00
28,600.00

Year 3
2,600.00
14,400.00
14,400.00
31,400.00
2,616.67
31,303.00

Year 4
2,616.67
14,400.00
14,400.00
31,416.67
2,618.06
28,798.61

Year 5
2,618.06
14,400.00
14,400.00
31,418.06
2,618.17
28,799.88

Estimated Income Tax Payable - Previous Yr.

Income Tax
Total
Estimated Income Tax Payable - Present Yr.
Payments to Income Tax

Year 1
0
584,293.55
584,293.55
48,691.13
535,602.42

Year 2
48,691.13
656,047.95
704,739.08
58,728.26
646,010.83

Year 3
58,728.26
735,062.68
793,790.94
66,149.24
727,641.69

Year 4
66,149.24
821,936.80
888,086.05
74,007.17
814,078.88

Year 5
74,007.17
914,425.37
988,432.54
82,369.38
906,063.16

Value Added Tax Payable - Previous Yr.

Value Added Tax Payable
Total
Value Added Tax Payable - Present Yr.
Payments to Value Added Tax Payable

Year 1
0
666,372.10
666,372.10
55,531.01
610,841.09

Year 2
55,531.01
733,009.31
788,540.31
65,711.69
722,828.62

Year 3
65,711.69
806,310.24
872,021.93
72,668.49
799,353.43

Year 4
72,668.49
886,941.26
959,609.75
79,967.48
879,642.27

Year 5
79,967.48
975,635.39
1,055,602.87
87,966.91
967,635.96

Withholding Tax Payable -Previous Yr.

Withholding Tax Payable
Total

Year 1
0
224,994.60
224,994.60

Year 2
18,749.55
279,718.08
298,467.63

Year 3
24,872.30
275,663.04
300,535.34

Year 4
25,044.61
357,665.88
382,710.49

Year 5
31,892.54
452,946.72
484,839.26

Withholding Tax Payable-Present Yr.

Payments to Withholding Tax Payable

18,749.55
206,245.05

24,872.30
273,595.33

25,044.61
275,490.73

31,892.54
350,817.95

40,403.27
444,435.99

Year 1
5,192,149.25
708,020.35
5,900,169.60

Year 2
5,711,364.17
778,822.39
6,490,186.56

Year 3
6,282,500.59
856,704.63
7,139,205.22

Year 4
6,910,750.65
942,375.09
7,853,125.74

Year 5
7,601,825.71
1,036,612.60
8,638,438.31

11,568,960.00
115,689.60
11,453,270.40
1,374,392.45
10,078,877.95

12,725,856.00
127,258.56
12,598,597.44
1,511,831.69
11,086,765.75

13,998,441.60
139,984.42
13,858,457.18
1,663,014.86
12,195,442.32

15,398,285.76
153,982.86
15,244,302.90
1,829,316.35
13,414,986.55

16,938,114.34
169,381.14
16,768,733.19
2,012,247.98
14,756,485.21

Year 1
5,900,169.60
120,000.00
5,780,169.60
59,001.70
59,001.70
5,662,166.21

Year 2
6,490,186.56
132,000.00
6,358,186.56
64,901.87
64,901.87
6,228,382.83

Year 3
7,139,205.22
145,200.00
6,994,005.22
71,392.05
71,392.05
6,851,221.11

Year 4
7,853,125.74
159,720.00
7,693,405.74
78,531.26
78,531.26
7,536,343.22

Year 5
8,638,438.31
175,692.00
8,462,746.31
86,384.38
86,384.38
8,289,977.55

SCHEDULE 9 Actual Amount of Sales and Purchases (exclusive of tax)

Amount of Invoice
Less: Input Tax
Purchases
Amount Per Invoice
Less: Sales Discounts
Net Sales
Less: Output Tax
Gross Sales
SCHEDULE 10 Cost of Sales
COST OF SALES
Purchases, labor and Overhead
Freight In
Total
Less: Purchase Returns
Purchase Discounts
Cost of Sales

SCHEDULE 11 Statement of Changes in Partner's Equity

Capital Balance, beginning

Add: Share in Net Income- YEAR 1
Total
Less: Share in Withdrawal -YEAR 1
Capital Balance, Ending

Partner A
2,000,000.00
248,324.76
2,248,324.76
100,000.00
2,148,324.76

Partner B
2,000,000.00
248,324.76
2,248,324.76
100,000.00
2,148,324.76

Partner C
2,000,000.00
248,324.76
2,248,324.76
100,000.00
2,148,324.76

Partner D
2,000,000.00
248,324.76
2,248,324.76
100,000.00
2,148,324.76

Partner E
2,000,000.00
248,324.76
2,248,324.76
100,000.00
2,148,324.76

Total
10,000,000.00
1,241,623.79
11,241,623.79
500,000.00
10,741,623.79

Capital Balance, Beginning -YEAR 2

Add: Share in Net Income
Total
Less: Share in Withdrawal
Capital Balance, Ending

10,741,623.79
278,820.38
2,427,145.14
100,000.00
2,327,145.14

10,741,623.79
278,820.38
2,427,145.14
100,000.00
2,327,145.14

10,741,623.79
278,820.38
2,427,145.14
100,000.00
2,327,145.14

10,741,623.79
278,820.38
2,427,145.14
100,000.00
2,327,145.14

10,741,623.79
278,820.38
2,427,145.14
100,000.00
2,327,145.14

10,741,623.79
1,394,101.90
12,135,725.70
500,000.00
11,635,725.70

Capital Balance, Beginning -YEAR 3

Add: Share in Net Income
Total
Less: Share in Withdrawal
Capital Balance, Ending

11,635,725.70
312,401.64
2,639,546.78
100,000.00
2,539,546.78

11,635,725.70
312,401.64
2,639,546.78
100,000.00
2,539,546.78

11,635,725.70
312,401.64
2,639,546.78
100,000.00
2,539,546.78

11,635,725.70
312,401.64
2,639,546.78
100,000.00
2,539,546.78

11,635,725.70
312,401.64
2,639,546.78
100,000.00
2,539,546.78

11,635,725.70
1,562,008.20
13,197,733.90
500,000.00
12,697,733.90

Capital Balance, Beginning -YEAR 4

Add: Share in Net Income
Total
Less: Share in Withdrawal
Capital Balance, Ending

12,697,733.90
349,323.14
2,888,869.92
100,000.00
697,217.48

12,697,733.90
349,323.14
2,888,869.92
100,000.00
697,217.48

12,697,733.90
349,323.14
2,888,869.92
100,000.00
697,217.48

12,697,733.90
349,323.14
2,888,869.92
100,000.00
697,217.48

12,697,733.90
349,323.14
2,888,869.92
100,000.00
2,788,869.92

12,697,733.90
1,746,615.70
14,444,349.60
500,000.00
13,944,349.60

Capital Balance, Beginning -YEAR 5

Add: Share in Net Income
Total
Less: Share in Withdrawal
Capital Balance, Ending

13,944,349.60
388,630.78
3,177,500.70
100,000.00
3,077,500.70

13,944,349.60
388,630.78
3,177,500.70
100,000.00
3,077,500.70

13,944,349.60
388,630.78
3,177,500.70
100,000.00
3,077,500.70

13,944,349.60
388,630.78
3,177,500.70
100,000.00
3,077,500.70

13,944,349.60
388,630.78
3,177,500.70
100,000.00
3,077,500.70

13,944,349.60
1,943,153.91
15,887,503.51
500,000.00
15,387,503.51

Promethean Manufacturing Company

Income Statement
For the years ended December 31

Sales
Less: Sales Discounts
Net Sales
Less: Cost of Sales
Gross Profit
Less: Operating Expenses
SSS Contribution
PhilHealth Contribution
Employee Compensation
Pag-ibig Contribution
Bonus- 13th Month Pay
Rent Expense
Retainer's Fee
Office Supplies Expense
Insurance Expense
Advertising Expense
Depreciation- Office Machinery & Eqpt.
Depreciation- Furniture and Fixtures
Depreciation- Leasehold Improvements
Organizational Cost
Salaries and Wages
Total Operating Expense
Net Income Before Tax
Provision for Income Tax (32%)
Net Income After Tax

2015
11,568,960.00
115,689.60
11,453,270.40
5,662,166.21
5,791,104.19

2016
12,725,856.00
127,258.56
12,598,597.44
6,228,382.83
6,370,214.61

2017
13,998,441.60
139,984.42
13,858,457.18
6,851,221.11
7,007,236.07

2018
15,398,285.76
153,982.86
15,244,302.90
7,536,343.22
7,707,959.68

2019
16,938,114.34
169,381.14
16,768,733.19
8,289,977.55
8,478,755.65

68,013.60
34,500.00
3,120.00
14,400.00
240,600.00
480,000.00
40,000.00
8,250.00
3,391.67
70,000.00
30,921.00
34,790.58
20,000.00
30,000.00
2,887,200.00
3,965,186.85
1,825,917.35
584,293.55
1,241,623.79

70,627.20
37,350.00
3,120.00
14,400.00
264,660.00
528,000.00
44,000.00
9,762.50
4,013.47
52,500.00
30,921.00
34,790.58
20,000.00
30,000.00
3,175,920.00
4,320,064.75
2,050,149.86
656,047.95
1,394,101.90

72,811.20
40,050.00
3,120.00
14,400.00
291,126.00
580,800.00
48,400.00
10,796.04
4,438.37
35,000.00
30,921.00
34,790.58
20,000.00
30,000.00
3,493,512.00
4,710,165.19
2,297,070.88
735,062.68
1,562,008.20

74,989.20
41,700.00
3,120.00
14,400.00
320,238.60
638,880.00
53,240.00
11,880.42
4,884.17
17,500.00
30,921.00
34,790.58
20,000.00
30,000.00
3,842,863.20
5,139,407.17
2,568,552.51
821,936.80
1,746,615.70

78,259.20
43,500.00
3,120.00
14,400.00
352,262.46
702,768.00
58,564.00
13,068.86
5,372.75
7,000.00
30,921.00
34,790.58
20,000.00
30,000.00
4,227,149.52
5,621,176.37
2,857,579.27
914,425.37
1,943,153.91

Promethean Manufacturing Company

FINANCIAL STATEMENT ANALYSIS

A. Current Ratio = Current Assets/Current Liabilities

Current Assets
Current Liabilities
CURRENT RATIO

Year 1
10,053,447.86
640,222.49

Year 2
11,122,088.22
759,970.37

16

15

Year 3
12,317,116.23
838,199.59

Year 4
13,640,715.59
860,392.67

Year 5
15,229,310.60
951,043.19

16

16

Current Ratio Measures the number of times that the current liabilities could be paid
with the available current assets. This indicates that the company has P16.00 assets over its P1.00 liabilities
to pay its current liabilities for year 1.

B. Equity Ratio = Total Partner's Equity/ Total Assets

Total Partner's Equity

Total Assets
EQUITY RATIO

Year 1
10,741,623.79
11,381,846.28

Year 2
11,635,725.70
12,395,696.06

Year 3
12,697,733.90
13,535,933.49

Year 4
13,944,349.60
14,804,742.27

Year 5
15,387,503.51
16,338,546.70

94%

94%

94%

94%

94%

Equity ratio indicates the proportion of assets provided by the owners. It also reflects
financial strength and caution to creditors. This means that owner's capable of
providing capital to partnership by not depending on financing(I.e., borrowing money in
the bank).

D. Return on Sales = Net Income/Net Sales

Net Income
Net Sales
RETURN ON SALES

Year 1
1,241,623.79
11,453,270.40

Year 2
1,394,101.90
12,598,597.44

Year 3
1,562,008.20
13,858,457.18

Year 4
1,746,615.70
15,244,302.90

Year 5
1,943,153.91
16,768,733.19

11%

11%

11%

11%

12%

The return on sales, or profit margin measures the amount of income provided by the
average peso sales. The return of 11% for year 1 indicates that the company should
exceed more effort in marketing their goods to provide bigger sales.

PAYBACK PERIOD
Net Investment
First Year Net Cash Flow
Total
PAYBACK PERIOD

10,000,000.00
8,234,444.33
1,765,555.67

Payback period refers to the length of time required by the project to return the initial cost of investment.
It also gives information about the liquidity of the project. The computed payback period shows that the
company will be able to gain their investment after 5 years
This shows that investing of this kind of investment is less risky for it will be able for the partner's to gain
back their investment

Promethean Manufacturing Company

Projected Balance Sheet
For the years ended 2015-2019
2015
ASSETS
Current Assets
Cash
Inventories
Prepaid Expenses
Supplies on hand
Insurance Expense
Other Assets
Total Current Assets
Fixed Assets
Office Machineries and Equipments
Factory Machineries and Equipments
Furniture and Fixtures
Total Fixed Assets
Less Accumulated Depreciation
Net Book Value
Leasehold Improvement
Less: Accumulated Depreciation
Net Book Value
TOTAL ASSETS

2016

2017

2018

2019

8,234,444.33
491,680.80

7,857,980.55
581,822.28

7,532,648.60
643,418.96

7,267,308.18
708,045.39

7,061,748.05
778,873.64

750.00
308.33
1,326,264.40
10,053,447.86

887.50
364.86
2,681,033.03
11,122,088.22

981.46
403.49
4,139,663.72
12,317,116.23

1,080.04
444.02
5,663,837.96
13,640,715.59

1,188.08
488.43
7,387,012.40
15,229,310.60

140,550.00
984,500.00
158,139.00
1,283,189.00
34,790.58
1,248,398.42

140,550.00
984,500.00
158,139.00
1,283,189.00
69,581.16
1,213,607.84

140,550.00
984,500.00
158,139.00
1,283,189.00
104,371.74
1,178,817.26

140,550.00
984,500.00
158,139.00
1,283,189.00
139,162.32
1,144,026.68

140,550.00
984,500.00
158,139.00
1,283,189.00
173,952.90
1,109,236.10

100,000.00
20,000.00
80,000.00

100,000.00
40,000.00
60,000.00

100,000.00
60,000.00
40,000.00

100,000.00
80,000.00
20,000.00

100,000.00
100,000.00
0.00

11,381,846.28

12,395,696.06

13,535,933.49

14,804,742.27

16,338,546.70

LIABILITIES & PARTNER'S EQUITY

Liabilities:
Accounts Payable
SSS Contributions Payable
PhilHealth Contributions Payable
Employees Compensation Payable
PagIbig Contributions Payable
Witholding Taxes Payable
Estimated Income Tax Payable
Value Added Tax Payable
TOTAL LIABILITIES
Partner's Equity
Capital Beginning
Add: Net Income after Tax
Total
Less: Partner's Drawing
Total Partner's Equity

491,680.80
17,160.00
5,750.00
260.00
2,400.00
18,749.55
48,691.13
55,531.01
640,222.49

581,822.28
19,250.00
6,704.17
281.67
2,600.00
24,872.30
58,728.26
65,711.69
759,970.37

643,418.96
20,784.47
7,233.68
283.47
2,616.67
25,044.61
66,149.24
72,668.49
838,199.59

643,418.96
20,652.04
7,552.81
283.62
2,618.06
31,892.54
74,007.17
79,967.48
860,392.67

708,045.39
21,477.04
7,879.40
283.64
2,618.17
40,403.27
82,369.38
87,966.91
951,043.19

10,000,000.00
1,241,623.79
11,241,623.79
500,000.00
10,741,623.79

10,741,623.79
1,394,101.90
12,135,725.70
500,000.00
11,635,725.70

11,635,725.70
1,562,008.20
13,197,733.90
500,000.00
12,697,733.90

12,697,733.90
1,746,615.70
14,444,349.60
500,000.00
13,944,349.60

13,944,349.60
1,943,153.91
15,887,503.51
500,000.00
15,387,503.51

TOTAL LIABILITES & PARTNER EQUITY

11,381,846.28

12,395,696.06

13,535,933.49

14,804,742.27

16,338,546.70

Promethean Manufacturing Company

Projected Statement of Cash Flows
For the year ended December 31
Cash Flows from Operating Activities
Cash receipts from:
Sales

2015

2016

2017

2018

2019

11,568,960.00

12,725,856.00

13,998,441.60

15,398,285.76

16,938,114.34

Cash Payments for:

Salary
Overhead
Purchases
SSS Contribution
PhilHealth Contribution
Employee Compensation
Pag-Ibig Contribution
Bonus-13th Month Pay
Rent Expense
Retainer's Fee
Insurance Expense
Advertising Expense
Licenses and Permits
Leasehold Improvements
Estimated Income Tax Payable
Value Added Tax Payable
Net Cash Provided by Operating Activities
Total

2,887,200.00
489,797.17
5,900,169.60
68,013.60
34,500.00
3,120.00
14,400.00
240,600.00
480,000.00
40,000.00
3,391.67
70,000.00
25,000.00
100,000.00
584,293.55
610,841.09
11,551,326.67
17,633.33

3,175,920.00
511,165.97
6,490,186.56
70,627.20
37,350.00
3,120.00
14,400.00
264,660.00
528,000.00
44,000.00
4,013.47
52,500.00
27,500.00

3,493,512.00
536,244.65
7,139,205.22
72,811.20
40,050.00
3,120.00
14,400.00
291,126.00
580,800.00
48,400.00
4,438.37
35,000.00
30,250.00

3,842,863.20
563,831.19
7,853,125.74
74,989.20
41,700.00
3,120.00
14,400.00
320,238.60
638,880.00
53,240.00
4,884.17
17,500.00
33,275.00

4,227,149.52
594,176.40
8,638,438.31
78,259.20
43,500.00
3,120.00
14,400.00
352,262.46
702,768.00
58,564.00
5,372.75
7,000.00
36,602.50

656,047.95
722,828.62
12,602,319.77
123,536.23

735,062.68
799,353.43
13,823,773.55
174,668.05

821,936.80
879,642.27
15,163,626.18
234,659.58

914,425.37
967,635.96
16,643,674.47
294,439.87

Cash Flows from Investing Activities

Purchase of Fixed Assets
Office Machineries and Equipment
Promethean Machineries and Eqpt.
Furniture and Fixtures
Net Cash Provided by Investing Activities

140,550.00
984,500.00
158,139.00
1,283,189.00

Cash Flow from Financing Activities

Investment of Owners
Withdrawal of Owners
Net Cash Provided by Financing Activities
Increase (decrease in cash)
Add: Cash Balance, January 1
Cash Balance, December 31

10,000,000.00
500,000.00
9,500,000.00
8,234,444.33
8,234,444.33

500,000.00
(500,000.00)
(376,463.77)
8,234,444.33
7,857,980.55

500,000.00
(500,000.00)
(325,331.95)
7,857,980.55
7,532,648.60

500,000.00
(500,000.00)
(265,340.42)
7,532,648.60
7,267,308.18

500,000.00
(500,000.00)
(205,560.13)
7,267,308.18
7,061,748.05

TOTAL

PROMETHEAN MANUFACTURING COMPANY

Projected Sales
Chur Jus
Price
Qnty
250ml
28.75
37,440
500ml
59.00
37,440
750ml
88.65
37,440
1L
132.60
37,440
149,760

Projected Daily Sales

Projected Weekly Sales
Projected Monthly Sales
Average Cost of Purchases a Day
Average Cost of Purchases a Week
Average Cost of Purchases a Month
Average Cost of Purchases a Year

44,496
2,313,792
964,080
22,693
40,973
491,680.80
5900169.60

Total
1,076,400.00
2,208,960.00
3,319,056.00
4,964,544.00
11,568,960.00