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XYZ Company Profit and Loss: All Dates

The document is a profit and loss statement for XYZ Company for all dates. It shows total income of PHP 6,583,156.60 from cash and installment sales, and total expenses of PHP 4,081,017.93. This results in a gross profit of PHP 5,705,694.10. Additional expenses include deferred gross profit of PHP 3,162,229.83 and depreciation of PHP 4,833, resulting in a net earnings of PHP 1,542,386.66.

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Matt Kelvin Paraiso
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Download as PDF, TXT or read online on Scribd
109 views

XYZ Company Profit and Loss: All Dates

The document is a profit and loss statement for XYZ Company for all dates. It shows total income of PHP 6,583,156.60 from cash and installment sales, and total expenses of PHP 4,081,017.93. This results in a gross profit of PHP 5,705,694.10. Additional expenses include deferred gross profit of PHP 3,162,229.83 and depreciation of PHP 4,833, resulting in a net earnings of PHP 1,542,386.66.

Uploaded by

Matt Kelvin Paraiso
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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XYZ Company

Profit and Loss


All Dates

Total
Income
Cash Sales 394,877.60
Installment Sales 6,188,279.00
Total Income PHP 6,583,156.60
Cost of Sales
Cost of sales 877,462.50
Total Cost of Sales PHP 877,462.50
Gross Profit PHP 5,705,694.10
Other Income(Loss)
Other income 0.00
Total Other Income(Loss) PHP 0.00
Expenses
Auto Supplies 103,804.24
Bank charges 2,435.00
Building & Sanitary Service 1,800.00
Co.Meeting & Conferences 29,079.50
Collector's Commission 422,261.46
Company benefits 50,000.00
Credit & Collection Incentive 43,267.65
Employee Relation 7,025.00
Gas & Oil 283,365.08
Insurance - General 1,607.31
Insurance Expense 4,684.98
Lodging Expense 69,898.00
Meals and entertainment 110,100.00
Misc Exp. 18,742.55
Misc. Bank charges 15,921.47
Office supplies 23,233.50
Postage 18,121.20
Professional Fees 39,000.00
Rent & Utilities-Power 13,270.08
Rent & Utilities-Rent 81,592.17
Rent & Utilities-Water 6,867.42
Repairs and Maintenance 5,678.00
Representation Expense 34,328.93
Required Benefits-SSS 63,466.97
Salaries & Allowances 1,110,832.96
Sales Incentive 14,000.00
Selling expenses 1,258,213.91
Shipping 33,310.08
Shipping and delivery expense 1,813.58
Taxes & Licenses 836.06
Telephone,Telegraph 15,466.83
Transportation Expense 196,994.00
Total Expenses PHP 4,081,017.93
Other Expenses
Deferred Gross Profit 3,162,229.83
Depreciation Expense 4,833.00
Total Other Expenses PHP 3,167,062.83
Net Earnings -PHP 1,542,386.66

Required: Prepare Journal Entries in the Quickbooks. Assume all operating expenses are cash expenses

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