My GURU Mathematics Tutorial Services
Projected statement of financial performance For the year 2018, 2019, 2020, 2021, and 2022 Service Income Cost of Service Tutors’ Fee Gross Profit Less: Expenses Rent Manager’s Salary and 13 Month Pay SSS, PhilHealth, and PAGIBIG Contribution Utilities Depreciation ExpenseFurniture and Fixtures Depreciation ExpenseEquipment Advertising Office Supplies Permits and Licences NET INCOME BEFORE TAX Less: Business Tax NET INCOME AFTER TAX
Sched 1
2018 ₱ 288,000.00
2019 ₱ 806,400.00
2020 ₱ 1,013,760.00
2021 1,140,480.00
2022 ₱ 1,267,200.00
2
82,230.00 205,770.00
213,798.00 592,602.00
213,798.00 799,962.00
213,798.00
213,798.00
3 4
35,000.00 28,710.00
84,000.00 74,646.00
84,000.00 74,646.00
84,000.00 74,646.00
84,000.00 74,646.00
5
12,304.00
29,529.60
74,646.00
74,646.00
74,646.00
6 7
11,544.60 1,543.33
30,477.72 3,704.00
30,477.72 3,704.00
30,477.72 3,704.00
30,477.72 3,704.00
8
5,644.83
13,574.60
13,574.60
13,574.60
13,574.60
1,000.00 9,770.00 9,070.00 90,236,78 8,640.00 ₱ 81,596.78
500.00 25,792.80 8,570.00 319, 562.78 24,192.00 ₱ 295,370.78
500.00 28,37208 8,570.00 521,295.62 30,412.8 ₱ 490, 882.82
500.00 31,209.24 8,570.00 641,853.62 34,214.40 ₱607,639.22
500.00 34,330.20 8,570.00 761,712.14 38,016.00 ₱723,696.14
10
₱
My GURU Mathematics Tutorial Services
Projected statement of cash flows For the year 2018, 2019, 2020, 2021, and 2022 Beginning Balance Cash Flow From Operating Activities Cash Received Cash Paid To/ For: Tutors’ Fee Manager’s Salary SSS, Philhealth, and PAG-IBIG Contribution Utilities Rent Advertising Office Supplies Permits and Licences Taxes (Percentage Tax) Net Cash Inflow From Operating Activities Cash Outflow From Investing Activities: Acquisition of Equipment Acquisition of Furniture And Fixtures NET Cash Outflow From Investing Activities Cash Flow From Financing Activities Owner’s Investments Withdrawal Net Cash Flow From Financing Activities
2018 -
2019 ₱ 97,712.82
2020 ₱ 97,712.82
2021 ₱ 97,712.82
2022 ₱ 97,712.82
₱ 288,000.00
₱ 806,400.00
₱ 1,013,760.00
₱ 1,140,480.00
₱ 1,267,200.00
76,233.00 26,711.00 16,240.00
199,405.20 68,848.40 48,720.00
199,405.20 68,848.40 48,720.00
199,405.20 68,848.40 48,720.00
199,405.20 68,848.40 48,720.00
9,235.68 35,000.00 1,000.00 9,770.00 9,070.00 6,912.00 ₱ 95,328.32
30,246.83 84,000.00 500.00 25,792.80 8,570.00 23,904.00 ₱ 309,412.77
33,271.61 84,000.00 500.00 28,372.08 8,570.00 29,894.40 ₱ 505,178.31
36,573.37 84,000.00 500.00 31,209.24 8,570.00 33,897.60 621,756.19
40,279.25 84,000.00 500.00 34,330.20 8,570.00 37699.20 ₱ 737,847.75
67,738.32 18,520.00 ₱ 86,258.00
-
-
-
-
505,178.31 (505,178.31)
621,756.19 (621,756.19)
737,847.75 (737,847.75)
₱
100,000.00 ₱ 100,000.00
309,412.77 (309,412.77)
Cash Balance
₱ 109,070.32
₱ 109,070.32
₱ 109,070.32
₱ 109,070.32
₱ 109,070.32
My GURU Mathematics Tutorial Services
Statement of owner’ equity For the year 2019, 2020, 2021, 2022 and 2023 Beginning Capital Net Profit Withdrawal Ending Capital
2018 ₱ 100,000.00 80,043.24 ₱ 180,043.24
2019 ₱ 180,403.24 291,642.28 309,401.77 ₱ 162,272.75
2020 ₱ 160,272.75 487,154.32 505,178.31 ₱ 144,248.76
2021 ₱ 144,248.76 603,910.72 621,576.19 ₱ 126,403.29
2022 ₱ 126,403.29 719,967.64 737,847.75 ₱ 108,523.18
My GURU Mathematics Tutorial Services
Projected statement of financial position For the year 2018, 2019, 2020, 2021, and 2022 Assets Current Assets Cash Non-Current Assets Furniture And Fixtures Accumulated DepreciationFurniture and Fixtures Equipment Accumulated DepreciationEquipment Total Noncurrent Assets Total Assets
2018
₱
₱
Liabilities and Owner’s Equity Liabilities Current Liabilities SSS, PhilHealth, PAG-IBIG Payables Utilities Payable Percentage Tax Payable Equity Owner’s Capital Total Liabilities and Owner’s Equity
₱
2019
2020
2021
2022
109,070.32
₱ 109,070.32
₱ 109,070.32
₱ 109,070.32
₱ 109,070.32
18,520.00 1,543.33
18,520.00 5,247.33
18,520.00 8,951.33
18,520.00 12,655.33
18,520.00 16,359.33
67,738.00 5,644.83
67,738.00 19,192.43
67,738.00 32,740.03
67,738.00 46,287.63
67,738.00 59,835.23
89,480.88
69,957.78
50,434.68
30,911.58
11,388.48
188,140.16
₱ 170,888.56
₱ 153,636.96
₱ 136,385.36
₱ 119,133.76
4,060.00 2,308.92 1,728.00
4,060.00 2,539.81 2,016.00
4,060.00 2,793.80 2,534.40
4,060.00 3,070.87 2,851.20
4,060.00 3,382.58 3,168.00
180,043.24
162,272.75
144,248.76
126,403.29
108,523.18
188,140.16
₱ 170,888.56
₱ 153,636.96
₱ 136,385.36
₱ 119,133.76
Notes to Financial Statements NOTE 1: SERVICE INCOME 2018 No. of students in a year No. of sessions Rate per session Service income
2019
2020
2021
2022
30
84
96
108
120
32 300.00 ₱ 288,000.00
32 300.00 ₱ 806,400.00
32 330.00 ₱ 1,013,760.00
32 330.00 ₱ 1,140,480.00
32 330.00 ₱ 1,267,200.00
NOTE 2: TUTORS' FEE
No. of tutors No. of months Monthly tutor’s fee Annual Tutors' Fee
2018
2019
2020
2021
2022
3 5 5,482.00 ₱ 82,230.00
3 13 5,482.00 ₱ 213,798.00
3 13 5,482.00 ₱ 213,798.00
3 13 5,482.00 ₱ 213,798.00
3 13 5,482.00 ₱ 213,798.00
NOTE 3: RENT EXPENSE
Monthly rental Expense No. of months Annual Rent Expense
2018
2019
2020
2021
2022
7,000.00
7,000.00
7,000.00
7,000.00
7,000.00
5 ₱ 35,000.00
12 ₱ 84,000.00
12 ₱ 84,000.00
12 ₱ 84,000.00
12 ₱ 84,000.00
2019 5,742.00
2020 5,742.00
2021 5,742.00
2022 5,742.00
NOTE 4: MANAGER'S SALARY
Gross salary
2018 5,742.00
No. of months Total 13th month pay Annual manager's salary
5 28,710.00
12 68,904.00 5,742.00
12 68,904.00 5,742.00
12 68,904.00 5,742.00
12 68,904.00 5,742.00
₱ 28,710.00
₱ 74,646.00
₱ 74,646.00
₱ 74,646.00
₱ 74,646.00
NOTE 5: SSS, PHILHEALTH, PAG-IBIG CONTRIBUTION Employer-Employee Share Gross salary SSS premium expense PhilHealth premium expense Pag-IBIG premium expense
Manager Tutors Employer Employee Employer Employee Employer Employee
Total SSS, PhilHealth, Pag-ibig Contribution
2018 5,742.00 5,482.00 415.20 199.80 100.00 100.00 100.00 100.00
2019 5,742.00 5,482.00 415.20 199.80 100.00 100.00 100.00 100.00
2020 5,742.00 5,482.00 415.20 199.80 100.00 100.00 100.00 100.00
2021 5,742.00 5,482.00 415.20 199.80 100.00 100.00 100.00 100.00
2022 5,742.00 5,482.00 415.20 199.80 100.00 100.00 100.00 100.00
615.00
615.00
615.00
615.00
615.00
2018 5,742.00 5,482.00 415.20 100.00 100.00
2019 5,742.00 5,482.00 415.20 100.00 100.00
2020 5,742.00 5,482.00 415.20 100.00 100.00
2021 5,742.00 5,482.00 415.20 100.00 100.00
2022 5,742.00 5,482.00 415.20 100.00 100.00
₱ 615.20
₱ 615.20
₱ 615.20
₱ 615.20
₱ 615.20
Employer's Share Gross salary SSS premium expense PhilHealth premium expense Pag-IBIG premium expense Total SSS, PhilHealth, Pag-ibig Contribution
Manager Tutors Employer Employer Employer
NOTE 6: UTILITIES EXPENSE 2018 Projected KWH to be consumed monthly KWH rate Total VAT Total with VAT No. of Months Total Utilities Expense
2019
2020
2021
2022
200
220
242
266
293
10.3077 2,061.54 247.38 2,308.92 5 ₱ 11,544.62
10.3077 2,267.69 272.12 2,539.82 12 ₱ 30,477.81
10.3077 2,494.46 299.33 2,793.80 12 ₱ 33,525.59
10.3077 2,741.85 329.02 3,070.87 12 ₱ 36,850.44
10.3077 3,020.16 362.41 3,382.57 12 ₱ 40,590.90
NOTE 7: FURNITURES AND FIXTURES AND ACCUMULATED DEPRECIATION Items
Quantity
Swivel Chair
1
Tables Front Desk Table Monobloc Whiteboard Water Dispenser Tutor's Table Book Shelves Total
3 1 26 3 1 3 3
Price ₱ 1,399.00 1,958.67 1,810.00 125.00 250.00 935.00 1,200.00 300.00
Total Cost
Useful life
₱ 1,399.00
5
5,876.01 1,810.00 3,250.00 750.00 935.00 3,600.00 900.00 ₱ 18,520.00
5 5 5 5 5 5 5
Accumulated Depreciation Items Swivel Chair
Annual Depreciation 279.80
2018 116.58
2019 396.38
2020 676.18
2021 955.98
2022 1,235.78
Tables Front Desk Table Monobloc Whiteboard Water Dispenser Tutor's Table Book Shelves Total
1,175.20
489.67
1,664.87
2,840.07
4,015.27
5,190.48
362.00
150.83
512.83
874.83
1,236.83
1,598.83
650.00 150.00 187.00 720.00 180.00 ₱ 3,704.00
270.83 62.50 77.92 300.00 75.00 ₱ 1,543.33
920.83 212.50 264.92 1,020.00 255.00 ₱ 5,247.34
1,570.83 362.50 451.92 1,740.00 435.00 ₱ 8,951.34
2,220.83 512.50 638.92 2,460.00 615.00 ₱ 12,655.34
2,870.83 662.50 825.92 3,180.00 795.00 ₱ 16,359.34
NOTE 8: EQUIPMENT AND ACCUMULATED DEPRECIATION Items Aircon Desktop Computer Printer CCTV Camera Wifi Modem Total
Quantity 1 1 1 1 1
Price 34,445.00 18,999.00 7,595.00 4,699.00 2,000.00
Total Cost 34,445.00 18,999.00 7,595.00 4,699.00 2,000.00 ₱ 67,738.00
Useful Life 5 5 5 5 5
Accumulated Depreciation Items Airconditioner Desktop Computer Printer CCTV Camera Wifi Modem Total
Annual Depreciation ₱ 6,889.00
₱ 2,870.41
3,799.80 1,519.00 939.80 400.00 ₱ 13,547.60
2018
2019
2020
2021
2022
₱ 9,759.42
₱ 16,648.42
₱ 23,537.42
₱ 30,426.42
1,583.25
5,383.05
9,182.85
12,982.65
16,782.45
632.91 391.58 166.66 ₱ 5,644.83
2,151.92 1,331.38 566.67 ₱ 19,192.43
3,670.92 2,271.18 966.67 ₱ 32,740.03
5,189.92 3,210.98 1,366.67 ₱ 46,287.63
6,708.92 4,150.78 1,766.67 ₱ 59,835.23
NOTE 9: CLASSROOM SUPPLIES
Items
Quantity (Monthly)
Price
1 rim 1 rim 20 pcs 6 pcs 8 pcs 2 pcs 3 pcs 1 box 5 pcs 200 ml 3 boxes
135.00 150.00 6.00 8.00 10.00 50.00 20.00 35.00 18.00 680.00 28.00
Bond Paper (short) Bond Paper (long) Ballpen Folder (short) Folder (long) Stapler Scotch Tape Paper Clips Whiteboard marker Premium dye ink Staple wires Total
Total Cost (Monthly) 135.00 150.00 120.00 48.00 80.00 100.00 60.00 35.00 90.00 680.00 84.00
Total Annual Cost 1,620.00 1,800.00 1,440.00 576.00 960.00 1,200.00 720.00 420.00 1,080.00 8,160.00 1,008.00 ₱ 18,984.00
NOTE 10: PERMITS AND LICENCES 2018 DTI Business Name registration Application Fee Documentary stamp tax Barangay and Business Clearance Police Clearance Mayor's Clearance
2019
2020
2021
2022
500.00 15.00
15.00
15.00
15.00
15.00
200.00
200.00
200.00
200.00
200.00
100.00 100.00
100.00 100.00
100.00 100.00
100.00 100.00
100.00 100.00
Mayor's permit Cedula Business Plate Electric Certificate fee Fire inspection fee BIR Registration Annual registration fee Certificate fee Documentary stamp tax Permits and licences
110.00 5,005.00 2,500.00 200.00 100.00
110.00 5,005.00 2,500.00 200.00 100.00
110.00 5,005.00 2,500.00 200.00 100.00
110.00 5,005.00 2,500.00 200.00 100.00
110.00 5,005.00 2,500.00 200.00 100.00
200.00 20.00 20.00 ₱ 9,070.00
200.00 20.00 20.00 ₱ 8,570.00
200.00 20.00 20.00 ₱ 8,570.00
200.00 20.00 20.00 ₱ 8,570.00
200.00 20.00 20.00 ₱ 8,570.00
NOTE 11: PERCENTAGE TAX
Sale for the year Percentage tax rate Percentage tax
2018 288,000.00
2019 806,400.00
2020 1,013,760.00
2021 1,140,480.00
2022 1,267,200.00
0.03
0.03
0.03
0.03
0.03
₱ 8,640.00
₱ 24,192.00
₱ 30,412.80
₱ 34,214.40
₱ 38,016.00