Labadabango Laundry Shop

Income Statement
For the year Ended December 31

2018 2019
Service Income P 1,850,300.00 2,983,570.00

Less: Operating Expense

Wages Expense 707,916.00 821,064.00
Advertising 10,000.00
Legal Cost 25,000.00
Utilities Expense 253,233.21 444,523.56
Repair and Maintainance 30,000.00
Rent Expense 120,000.00 120,000.00
SSS Contribution 28,776.00 33,594.00
Phil. Health Contribution 19,800.00 21,900.00
Pag-ibig Contribution 15,840.00 18,360.00
Equipment - Depreciation 26,926.40
Furniture and Fixture - Depreciation 15,600.00
Machinery - Depreciation 25,000.00
Profit(Loss) before Income Tax P 639,734.79 P 1,406,602.04
Income Tax 191,920.44 421,980.61
Net Income(Loss) P 447,814.35 P 984,621.43
 Labadabango Laundry Shop
Statement of Cash Flows
For the year Ended December 31
Beg
Cash P 1,500,000.00

Cash received from Customers

Payment for wage and other operating expenses:
Wages Expense
Advertising 10,000.00
Legal Cost 25,000.00
Utilities Expense
Repair and Maintainance 30,000.00
Rent Expense 40,000.00
SSS Contribution
Phil. Health Contribution
Pag-ibig Contribution
Supplies 300,000.00
Equipment 156,632.00
Furniture and Fixture 78,000.00
Machinery 250,000.00

Cash Balance P 610,368.00

undry Shop
ash Flows
December 31
2018 2019
P 610,368.00 P 1,355,102.79

1,850,300.00 2,983,570.00

707,916.00 821,064.00

253,233.21 444,523.56

80,000.00 120,000.00
28,776.00 33,594.00
19,800.00 21,900.00
15,840.00 18,360.00
650,000.00

250,000.00

P 1,355,102.79 P 1,326,551.23
 Labadabango Laundry Shop
Statement of Financial Position
For the year Ended December 31

Beg.
Assets:
Current Assets
Cash P 1,500,000.00
Supplies
Total Current Assets P 1,500,000.00
Non-Current Assets
Equipment
Furniture and Fixture
Machinery
Total Non-Current Assets
Total Asset P 1,500,000.00
Liabilities:
Income Tax Payable
Total Liabilities:
Equity:
Hernandez, Capital P 750,000.00
Nolasco, Capital P 750,000.00
Total Partners' Capital P 1,500,000.00

Total Liabilities and Capital P 1,500,000.00

o Laundry Shop
Financial Position
ded December 31

2018 2019

P 610,368.00 P 1,355,102.79
300,000.00 650,000.00
P 910,368.00 P 2,005,102.79

156,632.00
78,000.00
250,000.00 250,000.00
P 484,632.00 P 250,000.00
P 1,395,000.00 P 2,255,102.79

191,920.44 368,197.57
P 191,920.44 P 368,197.57

P 601,539.78 943,452.61
P 601,539.78 943,452.61
P 1,203,079.56 P 1,886,905.22

P 1,395,000.00 P 2,552,891.23
 Labadabango Price List
Washing/Drying Service
Assorted, T-shirts, shorts, blouse, sock, etc.

Washing/Drying Pressing
Assorted, T-shirts, shorts, blouse, sock, etc.

DRY CLEANING
Suit ( Top and Bottom)
Long Coat
Coat - Large
Coat - Medium
Coat - Small
Coat - Kid
Barong - Pinya
Barong - Normal
Barong - Polo
Wedding Gown
Pants
Skirt - Long
Skirt - Small
Skirt - Pleated
Lady Coat
Evening Dress
Dress Ordinary - Long
Lady Suit ( Top and Bottom)
Dress Plain
Jacket - Large
Jacket - Medium
Jacket - Small
Blouse
Jump Suit
Coat w/o Lining
Barong - Large ( Kid )
Barong - Medium ( Kid )
Barong - Small ( Kid )
Necktie
Cap
badabango Price List
PRICE
P 25/kg

PRICE
P 30/kg

PRICE
P 220
220
140
120
110
100
100
90
80
450
75
75
55
90
110
180
120
180
120
100
150
130
75
140
120
65
55
45
30
30
 SSS
PAYROLL Rate/Mos. Rate/Day Employers Rate Employee's Rate
Manager P 12,000.00 P 400.00 P 884.00 P 436.00
Laundry Worker 1 P 9000.00 P 300.00 P 663.00 P 327.00
Laundry Worker 2 P 9000.00 P 300.00 P 663.00 P 327.00
Laundry Worker 3 P 9000.00 P 300.00 P 663.00 P 327.00
Laundry Worker 4 P 9000.00 P 300.00 P 663.00 P 327.00
Laundry Worker 5 P 9000.00 P 300.00 P 663.00 P 327.00
Laundry Worker 6 P 9000.00 P 300.00 P 663.00 P 327.00
 PHIL-HEALTH
Total Contribution Employee's Share Employers Share Total Contribution
P 436.00 P 150.00 P 150.00 P 300.00
P 327.00 P 112.50 P 112.50 P 225.00
P 327.00 P 112.50 P 112.50 P 225.00
P 327.00 P 112.50 P 112.50 P 225.00
P 327.00 P 112.50 P 112.50 P 225.00
P 327.00 P 112.50 P 112.50 P 225.00
P 327.00 P 112.50 P 112.50 P 225.00
P 2,398.00 P 1,650.00
 PAG-IBIG CONTRIBUTION
Employers Share Total Contribution of Employee Total Contribution of Employer
P 240.00 P 826.00 P 1,274.00
P 180.00 P 619.50 P 955.50
P 180.00 P 619.50 P 955.50
P 180.00 P 619.50 P 955.50
P 180.00 P 619.50 P 955.50
P 180.00 P 619.50 P 955.50
P 180.00 P 619.50 P 955.50
P 1,320.00
Total Salary
P 10,726.00
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 8,044.50
P 58,993.00
 SSS
PAYROLL Rate/Mos. Rate/Day Employers Rate
Manager P 13,500.00 P 450.00 P 994.50
Laundry Worker 1 P 10,500.00 P 350.00 P 773.50
Laundry Worker 2 P 10,500.00 P 350.00 P 773.50
Laundry Worker 3 P 10,500.00 P 350.00 P 773.50
Laundry Worker 4 P 10,500.00 P 350.00 P 773.50
Laundry Worker 5 P 10,500.00 P 350.00 P 773.50
Laundry Worker 6 P 10,500.00 P 350.00 P 773.50
SSS PHIL-HEALTH
Employee's Rate Total Contribution Employee's Share Employers Share
P 490.50 P 490.50 P 162.50 P 162.50
P 381.50 P 381.50 P 125.00 P 125.00
P 381.50 P 381.50 P 125.00 P 125.00
P 381.50 P 381.50 P 125.00 P 125.00
P 381.50 P 381.50 P 125.00 P 125.00
P 381.50 P 381.50 P 125.00 P 125.00
P 381.50 P 381.50 P 125.00 P 125.00
P 2,779.50
EALTH PAG-IBIG CONTRIBUTION
Total Contribution Employers Share Total Contribution of Employee
P 325.00 P 270.00 P 923.00
P 250.00 P 210.00 P 716.50
P 250.00 P 210.00 P 716.50
P 250.00 P 210.00 P 716.50
P 250.00 P 210.00 P 716.50
P 250.00 P 210.00 P 716.50
P 250.00 P 210.00 P 716.50
P 1,825.00 P 1,530.00
CONTRIBUTION
Total Contribution of Employer Total Salary
P 1,427.00 P 12,073.00
P 1,108.50 P 9,391.50
P 1,108.50 P 9,391.50
P 1,108.50 P 9,391.50
P 1,108.50 P 9,391.50
P 1,108.50 P 9,391.50
P 1,108.50 P 9,391.50
P 68,422.00
 Operating Expenses

Investment:
Cash
Total Investment

Acquisition of Machineries
a. 4 Whirlpool Top loader Washers
b.4 Whirlpool Dryers
Total

Acquisition of Equipments
a. Philips' Flat Iron
b. Ironing Board
c. Weighing Scale
d. Water Hose (50ft)
e. Calculator
f. Power Regulators
g. Water Tank
h. Fire Extinguisher/2pcs
f. Aircondition

Renovation
a. Labor cost for 6 working days (P 350 x 4 workers x 6 days)
b. Total Cost of materials (Wood, Paint, Paintbrush,Nails, Etc.)
Total

Acquisition of Furniture and Fixtures

a. Tables
b. Chairs
c. Clothes Rack
d. Garment Racks

Total
Advetisement Expense
a. Tarpulin
b. Leaflets
c. Commercial
Total

Supplies
Disposable Gloves
Hangers (Plastic)
Clothespin
Mops
Floor Mats
Laundry Baskets
Plastics for Clothes Bagging
24x40
23x26
24x60
Ballpens
Mask
File Organizer Rack
Record Book
Detergent
Bleachers/Cleansers
Fabric Softeners

Rent Expense
Operating Expenses
Useful life Depreciation

P 1,500,000.00
P 1,500,000.00

P 125,000.00 10 12,500.00
125,000.00 10 12,500.00
P 250,000.00 25,000.00

36,400.00 5 7,280.00
1,200.00 5 240
2,732.00 5 546.4
1,500.00 5 300
200 5 40
2,000.00 2 1000
50,000.00 10 5,000.00
25,000.00 5 5,000.00
37,600.00 5 7,520
26,926.40

P 8,400.00
21,600.00
P 30,000.00

P 28,000.00 5 5,600.00
20,000.00 5 4,000.00
15,000.00 5 3,000.00
15,000.00 5 3,000.00
15,600.00
P 78,000.00
 P 2,000.00
1,000.00
7,000.00
P 10,000.00

2,000.00
5,000.00
2,000.00
500.00
500.00
500.00

10,000.00
10,000.00
10,000.00
500.00
500.00
300.00
200.00
130,000.00
68,000.00
60,000.00
P 300,000

10,000/mos
120,000.00
 Operating Expenses

Acquisition of Machineries
a. 4 Whirlpool Top loader Washers P 125,000.00
b.4 Whirlpool Dryers 125,000.00
Total P 250,000.00

Supplies
Disposable Gloves 2,000.00
Hangers (Plastic) 5,000.00
Clothespin 2,000.00
Mops 500.00
Floor Mats 500.00
Laundry Baskets 500.00
Plastics for Clothes Bagging
24x40 10,000.00
23x26 10,000.00
24x60 10,000.00
Ballpens 500.00
Mask 500.00
File Organizer Rack 300.00
Record Book 200.00
Detergent 250,000.00
Bleachers/Cleansers 183,000.00
Fabric Softeners 175,000.00
P 650,000.00

Rent Expense 10,000/mos

120,000.00
Useful life Depreciation

10 12,500.00
10 12,500.00
25,000.00
LEGAL COST
Securities and Exchange Commission

Business Name Reservation 1200.00

Registration Fee 2,600.00

Beaureu of Internal Revenue

Application of Certificate of Registration &Tin 3500.00

Anuual Registration Fee 2500.00
Documentary Stamp 100.00
Books of Accounts 300.00

Permit and Clearance

Barangay Clearance 500.00

Barangay Business Plate 1200.00
Business Permit 6,000.00
Community Tax Certificate 500.00
Mayor's Permit 4,000.00
Sanitary Permit 2,600.00
Total Initial 25,000.00
 2018 2019
Jan 150,000.00 250,000.00
Feb 150,000.00 250,000.00
Mar 250,100 260,370.00
Aprl 150,000.00 250,000.00
May 150,000.00 250,000.00
June 160,100 230,000.00
July 150,000.00 250,000.00
Aug 100,050.00 200,200.00
Sept 150,025.00 250,000.00
Oct 125,025.00 253,000.00
Nov 150,000.00 250,000.00
Dec 165,000 290,000.00
1,850,300.00 2,983,570.00