DIGICOM USA

Balance Sheet
As of December 31, 2023

Per 2023 ITR

ASSETS
Current Assets
Bank Accounts
11100 Wells Fargo 5419
11110 Wells Fargo - 1896
11120 Wells Fargo Business Savings
12000 Undeposited Funds
Total Bank Accounts 152,197.00
Accounts Receivable
11000 Accounts Receivable 69,739.00
11200 Advances from Others (78.00)
Total Accounts Receivable
Other Current Assets
12100 Inventory Asset 56,794.00
12800 Employee Advances 299,981.00
12900 Due From Owners
Total Other Current Assets
Total Current Assets
Fixed Assets
15000 Equipment
15050 Accumulated Depreciation Equip
Total 15000 Equipment
15100 Furniture
15150 Accum Depreciation Furniture
Total 15100 Furniture
15160 Vehicles
15170 Accumulated Depr Vehicles
Total 15160 Vehicles
Total Fixed Assets 40,977.00
Other Assets
15300 Products for demo 3,850.00
18700 Security Deposits Asset 2,392.00
Total Other Assets
TOTAL ASSETS 625,852.00
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 Accounts Payable 52,626.00
Total Accounts Payable
Credit Cards
20300 Capital One - 6644
 Bank of America - Natividad Ong (deleted)
Capital One - 1931 (deleted)
Capital One 4982- Natividad Ong (deleted)
Chase - 8936 (deleted)
DIGICOM USA - Amex 82008 (deleted)
Digicom USA - Amex Plat 81004
Michael Davies Ong
Total Digicom USA - Amex Plat 81004
Total Credit Cards 65,142.00
Other Current Liabilities
23000 Due To Owners 1,190,857.00
24000 Payroll Liabilities
24001 Federal Tax Withheld
24002 CA Tax Withheld
24003 CA State Disability Insurance
24004 Social Security Tax Withheld
24005 Medicare Tax Withheld
24006 Child Support Deduction
Total 24000 Payroll Liabilities 381.00
24500 Advance Customer Payments
25500 Sales Tax Payable 22,879.00
26000 In-Trust Accounts
26010 Child Support Deduction 1,005.00
26020 Wage Garnishment 94.00
Total 26000 In-Trust Accounts
Orange County Treasurer-Tax Collector Payable
Out Of Scope Agency Payable
Prepaid Taxes
Sales Tax Agency Payable
Santa Clara Payable
State Board of Equalization Payable
State of California Payable
State of Maryland Payable
VTech Payable
Total Other Current Liabilities
Total Current Liabilities
Long-Term Liabilities
25600 Loans Payable Vehicle
25700 Loans Payable - EIDL
Payroll Protection Program
Total Long-Term Liabilities 481,083.00
Total Liabilities
Equity
30000 Opening Bal Equity 105,000.00
30150 Paid in Capital 720,233.00
32000 Retained Earnings (2,013,448.00)
Net Income
Total Equity (1,188,215.00)
TOTAL LIABILITIES AND EQUITY 625,852.00

Tuesday, May 27, 2025 01:21:04 PM GMT-7 - Accrual Basis

 Per QBO Difference in $ Xandy's Notes

144,344.86
-4,142.12
3,082.24
8,912.29
$ 152,197.27 -$ 0.27

69,738.87 $ 0.13
-78.30 $ 0.30
$ 69,660.57

69,585.49 -$ 12,791.49
299,981.48 -$ 0.48
0.00
$ 369,566.97
$ 591,424.81

2,064.15
-2,061.43
$ 2.72
2,052.95
-2,048.10
$ 4.85
126,670.95
-85,701.17
$ 40,969.78
$ 40,977.35 -$ 0.35

3,850.20 -$ 0.20
2,391.58 $ 0.42
$ 6,241.78
$ 638,643.94 -$ 12,791.94

42,560.98 $ 10,065.02
$ 42,560.98

7,066.11
 1,693.42
445.52
-1,050.91
1,549.33
-2,043.34
-3,058.22
0.00
-$ 3,058.22
$ 4,601.91 60,540.09

1,190,856.96 0.04
0.00
53.93
18.30
26.74
80.39
201.52
0.00
$ 380.88 0.12
0.00
-5,969.85 28,848.85

1,005.00 0.00
93.76 0.24
$ 1,098.76
97.06
0.00
970.85
0.00
6,388.07
1,236.50
7,460.59
234.00
12,461.37
$ 1,215,215.19
$ 1,262,378.08

0.00
481,093.00
-10.00
$ 481,083.00 0.00
$ 1,743,461.08

105,000.00 0.00
720,233.43 -0.43
-1,960,079.37 -53,368.63
30,028.80 -30,028.80
-$ 1,104,817.14
$ 638,643.94 -12,791.94
 Profit and Loss
DIGICOM USA
January 1-December 31, 2023

Distribution account Per 2023 ITR Per QBO

Income 854,302.00 854,301.03
Total for Income 854,302.00 854,301.03

Cost of Goods Sold 421,802.00

51500 Purchases- Materials 71,865.68
51700 Agents Commission 1,000.00
52500 Sub Contractor 16,120.00
52900 Purchases - Resale Items 327,017.74
51100 Freight and Shipping Costs 3,738.50
52950 Discount Promo -158.53
Total 52900 Purchases - Resale Items $ 330,597.71
Inventory Shrinkage 6,729.17
Total for Cost of Goods Sold 421,802.00 426,312.56
Gross Profit 432,500.00 427,988.47

Interest 906.00 905.81

Other income 383,211.00 383,211.07
Total income 816,617.00 812,105.35

Expenses:
60000 Advertising and Promotion 86.00 85.57
Employee benefit programs 37,035.00 37,035.18
62400 Depreciation Expense Vehicles 22,753.00 22,753.00
63400 Interest Expense 2,295.00 1,600.11
66001 Officers' Salaries 205,650.00 205,650.00
Total for 66000 Payroll Expenses 267,819.00 267,123.86
67100 Rent Expense 37,125.00 37,125.40
67200 Repairs and Maintenance 386.00 386.04
68700 Taxes / Licenses 817.00
Total for Expenses 306,147.00 304,635.30
Net Operating Income 510,470.00 507,470.05

Other Deduction
Accounting 1,230.00 1,230.00
Auto and truck expenses 16,011.00 16,756.23
Bank charges 225.00 252.32
Commissions 1,000.00
Computer expense 7,377.00 7,392.05
Delivery and freight 2,873.00
Dues and subscriptions 7,029.00 7,123.05
 Insurance 29,658.00 29,658.49
Legal and professional fees 23,178.00 23,178.12
Licenses and permits 3,507.00 4,604.18
Office expense 4,359.00 14,680.63
Postage 1,301.00 1,271.07
Sales expense 311,912.00 311,911.64
Supplies 9,687.00
Telephone 754.00 753.86
Travel 23,907.00 11,220.87
Utilities 6,680.00 6,680.32
Payroll Processing 4,948.00 4,947.68
Sales Tax 682.00 681.61
Payroll Taxes 37,717.00 37,717.35
Restocking Fee 16.00 16.17
Merchant Processing Fee 1,835.00
2,610.83
13,958.39
(6,833.59)

Total Other Deduction 495,886.00 489,811.27

Net Other Income -

Net Income 14,584.00 17,658.78
Difference in $
0.97

421,802.00
(71,865.68)
(1,000.00)
(16,120.00)
(327,017.74)
(3,738.50)
158.53
(330,597.71)
(6,729.17)
(4,510.56)
4,511.53

0.19
(0.07)
4,511.65

0.43
(0.18)
-
694.89
-
695.14
(0.40)
(0.04)
817.00
1,511.70
2,999.95

-
(745.23)
(27.32)
1,000.00
(15.05)
2,873.00
(94.05)
 (0.49)
(0.12)
(1,097.18)
(10,321.63)
29.93
0.36
9,687.00
0.14
12,686.13
(0.32)
0.32
0.39
(0.35)
(0.17)
1,835.00
(2,610.83)
(13,958.39)
6,833.59

6,074.73

(3,074.78)
Xandy's Notes

Health Plan
ok

ok

ok
SS Contri, medicare,FUTA and CA

Unable to match in 2023 ITR - 60410 Credit Card Service Charge

Unable to match in 2023 ITR - 64300 Meals and Entertainment
Unable to match in 2023 ITR - 68700 Taxes / Licenses

Discrepancy of $3074.78 only. Net Income should be higher by 3K.