Spectacular Sari Sari Store Income Statement
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Purchases 4099653 Total Goods Available for Sale 15855953 Less.
Sari sari store income statement. The cost of merchandise sold amounted to 50 of sales. On December 31 2016 were as follows. Sales totaled Php 815000 40 of which was received in cash.
I have a small sari-sari store and how to compute quarterly income tax 1701Q the sample shows 250000 whole year computation i need a quarterly computation if my sales revenuesreceipts is 6275000 pls give me sample computation in quarterly more. Total estimated net income P567629. This was to be deducted from the customers account.
The big sari-sari store will conquer you. All small businesses including the sari-sari store are not subject to tax provided that the income does not exceed 250000 pesos per year. A descriptive quantitative survey method was used in this research.
A self-made questionnaire was used as a primary tool. This study analyzed the accounting practices of 56 sari-sari store owners at Brgy Makiling Calamba Laguna. Sari-sari stores although a small business should also keep accounting information.
In many ways much of the information we put together for the other statements is a direct result of the information given on the Income Statement. A His sari-sari store has cash deposited in a bank account amounting to P50 b His sari-sari store had a lot of uncollected sales from customers amounting to P75 000 c The total amount of merchandise left inside the store is P30 d He already paid one years rent in advance amounting to P12 e The. However sales returns amounted to Php 5000.
Its a win-win situation. Growing stagnant or declining. Since they have many products the customers will buy in that store.
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