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JACEN Co. Comparative Income Statement

JACEN Co. saw an 83.5% increase in total revenue in October compared to September, driven by sales of $519,400 in October compared to none in September. Total expenses increased 279.21% from $152,114.77 in September to $576,832.97 in October due primarily to cost of goods sold of $371,000 and increased general and administrative expenses. Despite higher expenses, net income grew slightly by 5.34% from $380,885.23 in September to $401,231.28 in October.

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168 views3 pages

JACEN Co. Comparative Income Statement

JACEN Co. saw an 83.5% increase in total revenue in October compared to September, driven by sales of $519,400 in October compared to none in September. Total expenses increased 279.21% from $152,114.77 in September to $576,832.97 in October due primarily to cost of goods sold of $371,000 and increased general and administrative expenses. Despite higher expenses, net income grew slightly by 5.34% from $380,885.23 in September to $401,231.28 in October.

Uploaded by

nina pascual
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

JACEN Co.

Comparative Income Statement

OCTOBER SEPTEMBER % change


REVENUE

Sales Revenue
Accounting Research Revenues 0.00 30,000.00 (100.00)
Accounting and Tax Revenues 471,000.00 503,000.00 (6.36)
Sales 519,400.00 0.00
Early Payment Sales Discounts (12,335.75) 0.00
Net Sales 978,064.25 533,000.00 83.50

TOTAL REVENUE 978,064.25 533,000.00 83.50

EXPENSE

Cost of Goods Sold


Inventory B Cost 371,000.00 0.00
Total Cost of Goods Sold 371,000.00 0.00

Payroll Expenses
Salaries Expense 76,500.00 58,500.00 30.77
Wages Expense 24,000.00 18,000.00 33.33
Wages allocated to production (21,000.00) 0.00
Non-production wages 3,000.00 18,000.00 (83.33)
SSS Employer Contribution Expense 9,415.00 7,925.00 18.80
PhilHealth Employer Contri. Expense 1,732.50 1,462.50 18.46
Pag-IBIG Employer Contri. Expense 850.00 750.00 13.33
Employee 13th Month Pay Expense 7,750.00 5,500.00 40.91
Employee Bonus Expense 15,713.80 11,060.60 42.07
Total Payroll Expense 114,961.30 103,198.10 11.40

General & Administrative Expenses


Commission Expense 38,955.00 0.00
Depreciation Expense - Bldg. 5,000.00 5,000.00 0.00
Depreciation Expense - Eqpt. 5,416.67 5,416.67 0.00
Depreciation Expense - Furn. & Fix. 1,333.33 1,333.33 0.00
Insurance Expense 1,666.67 1,666.67 0.00
Interest Expense 28,000.00 28,000.00 0.00
Supplies Expense 7,500.00 4,500.00 66.67
Association Dues Expense 0.00 0.00
Repairs Expense 0.00 0.00
Telephone Expense 3,000.00 3,000.00 0.00
Total General & Admin. Expenses 90,871.67 48,916.67 85.77

TOTAL EXPENSE 576,832.97 152,114.77 279.21

NET INCOME 401,231.28 380,885.23 5.34

Generated On: 09/02/2021

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