How to compute E? (Statement of Financial Position)

A.) Initial Financing

Business permit	P 10,000
Rent payment (advance or deposit)	50,000
Cost of developing software	100,000
Acquisition of properties (cost computer, furniture, office equipment)
Total

B.) Pricing Structure

Salary of rider	P 20,000
Depreciation of motorcycle	1,000
Gasoline and maintenance	5,000
Total monthly cost	26,000
Divide:	200
Estimated cost per delivery	120
Mark up (20%)	24
Price	P 144

C.) Chart of Accounts

Account Number	Account Title
	ASSETS
101	Cash
102	Supplies
103	Prepaid rent
104	Prepaid insurance
105	Advances to Employees
106	Transportation Equipment
107	Accumulated depreciation Transportation Equipment
108	Office equipment
109	Accumulated depreciation Office Equipment
110	Furniture and Fixture
111	Accumulated Depreciation - Furniture and Fixture
	LIABILITIES
201	Salaries payable
202	Rent payable
203	Utilities payable
	EQUITY
301	Go, Capital
301-A	Go, Drawing
302	Chan, Capital
302-A	Chan, Drawing
303	Russel, Capital
303-A	Russel, Drawing
304	Ong, Capital
304-A	Ong, Drawing
	REVENUES
401	Service Income
	EXPENSES
501	Rent expense
502	Salaries expense
503	Advertising expense
504	Miscellaneous expense
505	Transportation expense
506	Depreciation Expense - Transportation Equipment
507	Depreciation Expense - Office Equipment
508	Depreciation Expense - Furniture & Fixture
509	Income Tax Expense

D.) Income Statement

	2023 (in Php)	2024 (in Php)	2025 (in Php)
Revenue	850,000	1,000,000	1,200,000
Salaries expense	(400,000)	(500,000)	(650,000)
Rent expense	(25,000)	(30,000)	(35,000)
Utilities expense	(5,000)	(7,000)	(9,000)
Insurance expense	(30,000)	(30,000)	(30,000)
Net income	390,000	433,000	476,000

E.) Statement of Financial Position (balance at December 31, 2023)

	2023	2024	2025
Cash	400,000
Supplies	20,000
Prepaid rent	30,000
Prepaid insurance	10,000
Motor	300,000
Accumulated depreciation motor	(30,000)
Office equipment
Accumulated depreciation office
Salaries payable
Rent payable
Utilities payable
Chan, capital