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    Income Statement

    Uploaded by

    Angelyn Samande
    The Junior Philippine Institute of Accountants at the University of Negros Occidental-Recoletos College of Business and Accountancy reported total income of ₱91,513 for the academic year ending March 13, 2020. The largest sources of income came from organization fees and JPIA Night fees. Total expenses for the year were ₱91,096.77, resulting in a small net income of ₱416.23. Expenses included costs for various events and activities as well as supplies and repairs. The organization ended the year with ₱25,852.06 in cash.

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    Income Statement

    Uploaded by

    Angelyn Samande
    504 views5 pages
    The Junior Philippine Institute of Accountants at the University of Negros Occidental-Recoletos College of Business and Accountancy reported total income of ₱91,513 for the academic year ending March 13, 2020. The largest sources of income came from organization fees and JPIA Night fees. Total expenses for the year were ₱91,096.77, resulting in a small net income of ₱416.23. Expenses included costs for various events and activities as well as supplies and repairs. The organization ended the year with ₱25,852.06 in cash.

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    INCOME STATEMENT

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    The Junior Philippine Institute of Accountants at the University of Negros Occidental-Recoletos College of Business and Accountancy reported total income of ₱91,513 for the academic year ending March 13, 2020. The largest sources of income came from organization fees and JPIA Night fees. Total expenses for the year were ₱91,096.77, resulting in a small net income of ₱416.23. Expenses included costs for various events and activities as well as supplies and repairs. The organization ended the year with ₱25,852.06 in cash.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    504 views5 pages

    Income Statement

    Uploaded by

    Angelyn Samande
    The Junior Philippine Institute of Accountants at the University of Negros Occidental-Recoletos College of Business and Accountancy reported total income of ₱91,513 for the academic year ending March 13, 2020. The largest sources of income came from organization fees and JPIA Night fees. Total expenses for the year were ₱91,096.77, resulting in a small net income of ₱416.23. Expenses included costs for various events and activities as well as supplies and repairs. The organization ended the year with ₱25,852.06 in cash.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    University Of Negros Occidental- Recoletos

    College Of Business and Accountancy


    Junior Philippine Institute Of Accountants
    #51 Lizares St., 6100, Bacolod City, Philippines

    Junior Philippine Institute Of Accountants


    INCOME STATEMENT
    For the Academic Year ended March 13,2020

    Income
    Organization Fee 1st Semester ₱ 22,050.00
    Organization Fee 2nd Semester 11,250.00
    U-week Carnival Rides Revenue 15,713.00
    JPIA Night Fee 42,500.00
    Gross Income ₱ 91,513.00

    Expenses
    Welcome Smash ₱ 667.00
    School Supplies 982.00
    Accountancy Week 3,358.75
    CBA Day 11,527.30
    Sportfest Food 1,000.00
    NECONFED Quizbowl 2,000.00
    Air Conditioner Repair 1,050.00
    JPIA COF Contribution 200.00
    JPIA Night Expenses 53,530.50
    JPIA Outreach 12,958.45
    10th Intercollegiate GenMathLing 1,500.00
    Other Expense 2,322.77
    Total Expenses ₱ 91,096.77
    NET INCOME ₱ 416.23
    University Of Negros Occidental- Recoletos
    College Of Business and Accountancy
    Junior Philippine Institute Of Accountants
    #51 Lizares St., 6100, Bacolod City, Philippines

    Junior Philippine Institute Of Accountants


    Statement of Changes in Cash
    For the Academic Year ended March 13,2020

    Beginning Cash Balance ₱ 25,435.83

    Add Net income 416.23

    Ending Cash Balance ₱ 25,852.06

    Prepared by: Reviewed by:

    ANGELYN SAMANDE
    CHRISTINE MAY RONCALES, CPA,
    VP-Finance MBA
    JPIA Adviser

    Noted by:

    MARIA CECILIA GENOVATE, CPA


    MARIFER TOLEDO Head, Accountancy Department
    Treasurer

    GRACE LOPENA, CPA, JD, RN, MBA,


    IVAN JULES BORRES CRB
    JPIA President Dean, College of Business and Accountancy

    Audited by: Approved by:

    ANNE CAROLINE AMBAGAN


    DEXTER DIOSO
    Auditor
    DSA
    University Of Negros Occidental- Recoletos
    College Of Business and Accountancy
    Junior Philippine Institute Of Accountants
    #51 Lizares St., 6100, Bacolod City, Philippines

    Junior Philippine Institute Of Accountants


    Notes to Financial Statements

    Note 1 Welcome Smash


    Prizes (School Supplies) ₱ 255.00
    Ice Cream Prizes 280.00
    Booth Decorations 132.00
    Total ₱ 667.00

    Note 2 School Supplies


    Receipts and Carbon Copy ₱ 134.00
    School Supplies 848.00
    Total ₱ 982.00

    Note 3 Accountancy Week


    Foods ₱ 562.00
    Costumes 789.00
    Props 231.75
    Balloons 276.00
    Transportation Expense 1,500.00
    Total ₱ 3,358.75

    Note 4 CBA Day


    MTV ₱ 2,500.00
    Comedy Skit 327.30
    Music Video 200.00
    Hiphop 2,000.00
    Mr. and Ms. CBA 5,500.00
    CBA Solicitation 1,000.00
    Total ₱11,527.30

    Note 5 Sportfest Food ₱ 1,000.00


    University Of Negros Occidental- Recoletos
    College Of Business and Accountancy
    Junior Philippine Institute Of Accountants
    #51 Lizares St., 6100, Bacolod City, Philippines

    Note 6 NECONFED Quiz bowl


    Transportation Expense ₱ 320.00
    Registration Fee 800.00
    Lunch 880.00
    Total ₱ 2,000.00

    Note 7 Air Condition Repair


    Labor Fee ₱ 400.00
    Materials 650.00
    Total ₱ 1,050.00

    Note8 JPIA COF Contribution ₱ 200.00

    Note 9 JPIA Night Expenses


    Photo Coverage ₱ 5,500.00
    Giveaways 5,090.00
    Invitations 540.00
    Reservation Fee 5,000.00
    Venue, Foods & Decorations 36,400.00
    Prizes 1,000.50
    Total ₱ 53,530.50

    Note 10 JPIA Outreach


    Piggy Bank Giveaways ₱ 2.000.00
    Jollibee Spaghetti 2,000.00
    Groceries 2,488.20
    Snacks 4,448.00
    School Supplies 1,472.25
    Transportation Fee 550.00
    Total ₱ 12,958.45

    Note 11 10th Intercollegiate GenMathLing ₱ 1,500.00

    Note 12 Other Expense


    TV ₱ 1,000.00
    Ink 15.00
    University Of Negros Occidental- Recoletos
    College Of Business and Accountancy
    Junior Philippine Institute Of Accountants
    #51 Lizares St., 6100, Bacolod City, Philippines

    Other Supplies 1,307.77


    Total ₱ 2,322.77

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