Chart of Accounts of Holy Gardens Chapel and Memorial Services
1. Balance Sheet
Assets:
Cash and Cash in Bank
Accounts Receivable
Customers
Memorial Plan Co.
Inventory
Inventory
Furniture Fixtures and Equipment
Other Assets:
Total Assets
Liability and SHE
Current Liabilities:
Salaries and Wages
Trade Accounts Payable
Notes Payable
Car Loans
Bank Loans
Due to HGGMP
Due to HGGMP
Total Liabilities
Equity:
Stockholders Equity
Retained Earnings
Paid in Surplus
Total Equity
Total Liability and SHE
2. Profit and Loss (Income Statement)
Revenue
Sale of Services
Less: Marketing expense (max of 10% for sales, upgrading)
Less; Senior Citizen discount (not applicable for P20t and P12t packages)
Net Sales:
Less: CGS (cost of Casket) /
Less operating expenses:
1. Wages and benefits
2. Electricity and utilities
3. Embalming contract (for Calamba) /
4. Chemicals and Cosmetics /
5. Amenities:
Flowers, /
Tarps, /
Thank you card /
Memory board; /
Coffee, creamer, candies for the viewing /
Mineral water
6. Oil and gasoline /
7. Repairs and maintenance
8. Depreciation /
9. Chapel rental /
10 Interest Expense
Total Operating Expenses
Gross Operating Income
These shall be formatted like IS; and corresponding abstract, CDB, CRB shall be made.
3. Cash flow statement:
Beginning balance
Add: Cash receipts (from sales)
Collection from AR
Total Collections
Less: Expenses:
ME
Discounts
Payment of caskets
1. Wages and salaries
2. Rental
3. Utilities
4. Oil and gasoline
5. Repairs and maintenance
Total expenses:
Surplus Deficit
Ending balance
We will study and practice the use of charts of accounts stated above, Sir. It will be useful on our record keeping and liquidation of expenses.
ReplyDeleteRocel Cariño
HGLUMP-SFC