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Calib

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0% found this document useful (0 votes)

27 views65 pages

Calib

Uploaded by

mercynarvacanpanganiban

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

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GL Accounts

1-1010 · Cash in Bank - PHP Checking

1-1015 · Cash in Bank - PHP Savings
1-1020 · Cash in Bank - US Dollar
1-1040 · Petty Cash
1-2000 · Accounts Receivable-Trade (Php)
1-2010 · Accounts Receivable-Trade (US$)
1-2500 · Other Receivables:1-2510 · Other Receivable-Advances
1-2500 · Other Receivables:1-2511 · Other Receivable-Employees
1-2500 · Other Receivables:1-2515 · Other Receivable-Top Calibration
1-2500 · Other Receivables:1-2520 · Other Receivable-Misc
1-3000 · Inventory
1-4000 · Prepaid Items:1-4010 · Prepaid Rent
1-4000 · Prepaid Items:1-4020 · Prepaid Security Deposit
1-4000 · Prepaid Items:1-4030 · Prepaid Association Dues
1-4000 · Prepaid Items:1-4040 · Prepaid - Others
1-4000 · Prepaid Items:1-4050 · Prepaid Insurance
1-4000 · Prepaid Items:1-4060 · Prepaid Importation
1-4002 · Deferred Tax Asset
12100 · Inventory Asset
1499 · Undeposited Funds
2-5000 · Input VAT
1-5000 · Property, Plant & Equipment:1-5010 · Furniture & Fixtures
1-5000 · Property, Plant & Equipment:1-5010 · Furniture & Fixtures:1-5011 · Accum. Dep'n - Furniture & Fixt
1-5000 · Property, Plant & Equipment:1-5020 · Plant Equipment
1-5000 · Property, Plant & Equipment:1-5020 · Plant Equipment:1-5021 · Accum. Dep'n - Plant Equipment
1-5000 · Property, Plant & Equipment:1-5030 · Office Equipment
1-5000 · Property, Plant & Equipment:1-5030 · Office Equipment:1-5031 · Accum. Dep'n - Office Equipment
1-5000 · Property, Plant & Equipment:1-5040 · Transportation Equipment
1-5000 · Property, Plant & Equipment:1-5040 · Transportation Equipment:1-5041 · Accum. Dep'n - Transpo Equipmnt
1-5000 · Property, Plant & Equipment:1-5050 · Leasehold Improvements
1-5000 · Property, Plant & Equipment:1-5050 · Leasehold Improvements:1-5051 · Accum. Dep'n - Leasehold Improv
1-6000 · Other Assets:1-6010 · Intangibles
1-6000 · Other Assets:1-6020 · Creditable Withholding Tax
2-1000 · Accounts Payable-Trade (Php)
2-1010 · Accounts Payable-Trade (US$)
2-2000 · Payroll Liabilities:2-2010 · Withholding tax on Compensation
2-2000 · Payroll Liabilities:2-2020 · SSS Payable
2-2000 · Payroll Liabilities:2-2030 · SSS Loan Payable
2-2000 · Payroll Liabilities:2-2040 · Pag-ibig Payable
2-2000 · Payroll Liabilities:2-2050 · Pag-ibig Loan Payable
2-2000 · Payroll Liabilities:2-2060 · Philhealth Payable
2-3000 · Expanded Tax Payable
2-4000 · Accrued Expense:2-4010 · Accrued Statutory Remittances
2-4000 · Accrued Expense:2-4020 · Accrued Expense - Others
2-4000 · Accrued Expense:2-4030 · Accrued Light
2-4000 · Accrued Expense:2-4060 · Accrued 13th Month
2-4000 · Accrued Expense:2-4080 · Accrued Employees Welfare
2-5500 · Output VAT
2-6000 · Other Payables:2-6030 · Advances from Top Calibration
2-6000 · Other Payables:2-6070 · Unidentified Remittances
2-7000 · Income Tax Payable
3-0000 · Capital Stock
4-0000 · Retained Earnings
Sale of Goods
5-0000 · Income:5-1000 · Calibration Service
5-0000 · Income:5-1200 · Service Discount
5-0000 · Income:5-1300 · On Site Fee
5-0000 · Income:5-1600 · Other Income
5-0000 · Income:5-2000 · Repair Service
5000 · Cost of Goods Sold
5001 · Cost of Goods Sold - Sale of Goods
6-0000 · Operating Expenses:6-0100 · Wages and Salaries
6-0000 · Operating Expenses:6-0150 · Overtime
6-0000 · Operating Expenses:6-0200 · Commission Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0310 · SSS Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0320 · Philhealth Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0330 · Pag-ibig Expense
6-0000 · Operating Expenses:6-0400 · Employment Expenses:6-0420 · Health & Life Insurance
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0510 · EB - Bonus
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0520 · EB - Allowances
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0530 · EB - 13th Month Pay
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0540 · EB - Employees Welfare
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0570 · Other Benefits
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0630 · Travel - Hotel/Board & Lodging
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0640 · Travel - Parking & Toll
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0650 · Travel - Transportation
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0660 · Gas and Oil
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0670 · Repair & Maintenance - Vehicle
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0680 · Car & Fire Insurance
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0710 · Office Rental
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0720 · Telephone
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0730 · Internet
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0742 · Light
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0743 · Cleaning Expenses
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0761 · Freight-Standards use onsite
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0762 · Freight-Purchase of Stnds/Eqpt
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0763 · Freight-Calibration of PH Stnds
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0765 · Freight-Customer Equipment
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0766 · Freight-Purchase supplies/acces
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0767 · Freight- On loan standards
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0769 · FB-Purchase of Equipt for Sale
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0770 · Duties & Handling Fees
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0781 · Office Supplies
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0782 · Computer Software/Hardware Supp
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0783 · Non-capitalizable Assets
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0784 · Company Uniforms
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0810 · Bank Charges
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0820 · Depreciation Expense
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0830 · Amortization
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0840 · Repair & Maintenance - Building
6-0000 · Operating Expenses:6-0900 · Advertising Expense
6-0000 · Operating Expenses:6-1100 · Meals
6-0000 · Operating Expenses:6-1300 · Representation Expenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1410 · Corporate Licenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1420 · Car Registration
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1430 · Documentary Tax
6-0000 · Operating Expenses:6-1500 · Fees:6-1530 · Legal Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1560 · Professional Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1570 · Consultation Fee
6-0910 · Insurance Expense
7-0000 · Other Income:7-1000 · Interest Income
77001 · *Exchange Gain or Loss
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current
FS Account FS Notes
Cash Cash In Bank
Cash Cash In Bank Cash Cash In Bank
Cash Cash In Bank Capital Capital
Cash Cash In Hand Capital Result
Receivables Trade Capital Retained Earnings
Receivables Trade Retained Earnings Result
Receivables Others Cash Cash In Bank
Receivables Others
Receivables Others Cash In Bank Result
Receivables Others Cash In Hand
Inventory Inventory
Prepayments Rent Cash In Hand Result
Prepayments Security DTA DTA
Prepayments Association DTA Result
Prepayments Others Expenses Advertising
Prepayments Insurance Advertising Result
Prepayments Others Association dues
DTA DTA Association dues Result
Inventory Inventory Depreciation and a
Cash Cash In Hand
Prepayments Input Depreciation and amortization Result
PPE Furniture Insurance
PPE Furniture Insurance Result
PPE Plant Miscellaneous exp
PPE Plant
PPE Office
PPE Office
PPE Transportation
PPE Transportation
PPE Leasehold
PPE Leasehold
PPE Intangibles
Prepayments CWT
Payables Trade
Payables Trade
Payables Accruals
Payables Accruals
Payables Accruals
Payables Accruals Miscellaneous expense Result
Payables Accruals Professional fees
Payables Accruals
Payables Accruals
Payables Accruals Professional fees Result
Payables Accruals Rental expense
Payables Accruals Rental expense Result
Payables Accruals Salaries and allowa
Payables Accruals
Payables Others
Payables Advances
Payables Others
Prepayments Others
Capital Capital
Capital Retained Earnings
Income Sale of Goods
Income Calibration and Repair Service Revenue
Income Calibration and Repair Service Revenue
Income Calibration and Repair Service Revenue
Income Calibration and Repair Service Revenue Salaries and allowances Result
Income Calibration and Repair Service Revenue Supplies expense
Income Cost of Sales - Calibration and Repair Service Revenue
Income Cost of Sales - Calibration and Repair Service Revenue
Expenses Salaries and allowances
Expenses Salaries and allowances Supplies expense Result
Expenses Salaries and allowances Taxes and licenses
Expenses Salaries and allowances
Expenses Salaries and allowances
Expenses Salaries and allowances Taxes and licenses Result
Expenses Salaries and allowances Travel expense
Expenses Salaries and allowances
Expenses Salaries and allowances
Expenses Salaries and allowances
Expenses Salaries and allowances
Expenses Salaries and allowances
Expenses Travel expense Travel expense Result
Expenses Travel expense Utilities expense
Expenses Travel expense
Expenses Travel expense
Expenses Travel expense
Expenses Travel expense Utilities expense Result
Expenses Rental expense Income Calibration and Re
Expenses Utilities expense
Expenses Utilities expense
Expenses Utilities expense
Expenses Utilities expense
Expenses Miscellaneous expense Calibration and Repair Service Revenue Result
Expenses Miscellaneous expense Cost of Sales - Cal
Expenses Miscellaneous expense
Expenses Miscellaneous expense Cost of Sales - Calibration and Repair Service Revenue Re
Expenses Miscellaneous expense Foreign Exchange G
Expenses Miscellaneous expense Foreign Exchange Gain (Loss) Result
Expenses Miscellaneous expense Interest Income
Expenses Miscellaneous expense Interest Income Result
Expenses Miscellaneous expense Sale of Goods
Expenses Miscellaneous expense Sale of Goods Result
Expenses Supplies expense Inventory Inventory
Expenses Supplies expense
Expenses Supplies expense Inventory Result
Expenses Supplies expense Payables Accruals
Expenses Association dues
Expenses Miscellaneous expense
Expenses Depreciation and amortization
Expenses Depreciation and amortization
Expenses Miscellaneous expense
Expenses Advertising
Expenses Miscellaneous expense
Expenses Miscellaneous expense
Expenses Taxes and licenses
Expenses Taxes and licenses
Expenses Taxes and licenses
Expenses Professional fees Accruals Result
Expenses Professional fees Advances
Expenses Professional fees Advances Result
Expenses Insurance Others
Income Interest Income
Income Foreign Exchange Gain (Loss) Others Result
Expenses Miscellaneous expense Trade
Provision for Income Tax Provision for Income Tax
Trade Result
PPE Furniture

Furniture Result
Intangibles
Intangibles Result
Leasehold

Leasehold Result
Office

Office Result
Plant

Plant Result
Transportation

Transportation Result
Prepayments Association
Association Result
CWT
CWT Result
Input
Input Result
Insurance
Insurance Result
Others

Others Result
Rent
Rent Result
Security
Security Result
Provision for I Provision for Inco
Provision for Income Tax Result
Receivables Others

Others Result
Trade

Trade Result
Total Result
1-1010 · Cash in Bank - PHP Checking
3-0000 · Capital Stock

4-0000 · Retained Earnings

ed Earnings Result
1-1015 · Cash in Bank - PHP Savings
1-1020 · Cash in Bank - US Dollar
Bank Result
1-1040 · Petty Cash
1499 · Undeposited Funds
Hand Result
1-4002 · Deferred Tax Asset

6-0000 · Operating Expenses:6-0900 · Advertising Expense

6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues

ation dues Result
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0820 · Depreciation Expense
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0830 · Amortization
iation and amortization Result
6-0910 · Insurance Expense

6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage

6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0761 · Freight-Standards use onsite
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0762 · Freight-Purchase of Stnds/Eqpt
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0763 · Freight-Calibration of PH Stnds
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0765 · Freight-Customer Equipment
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0766 · Freight-Purchase supplies/acces
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0767 · Freight- On loan standards
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0769 · FB-Purchase of Equipt for Sale
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0770 · Duties & Handling Fees
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0810 · Bank Charges
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0840 · Repair & Maintenance - Building
6-0000 · Operating Expenses:6-1100 · Meals
6-0000 · Operating Expenses:6-1300 · Representation Expenses
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
aneous expense Result
6-0000 · Operating Expenses:6-1500 · Fees:6-1530 · Legal Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1560 · Professional Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1570 · Consultation Fee
ional fees Result
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0710 · Office Rental
expense Result
6-0000 · Operating Expenses:6-0100 · Wages and Salaries
6-0000 · Operating Expenses:6-0150 · Overtime
6-0000 · Operating Expenses:6-0200 · Commission Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0310 · SSS Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0320 · Philhealth Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0330 · Pag-ibig Expense
6-0000 · Operating Expenses:6-0400 · Employment Expenses:6-0420 · Health & Life Insurance
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0510 · EB - Bonus
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0520 · EB - Allowances
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0530 · EB - 13th Month Pay
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0540 · EB - Employees Welfare
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0570 · Other Benefits
s and allowances Result
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0781 · Office Supplies
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0782 · Computer Software/Hardware Supp
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0783 · Non-capitalizable Assets
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0784 · Company Uniforms
es expense Result
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1410 · Corporate Licenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1420 · Car Registration
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1430 · Documentary Tax
and licenses Result
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0630 · Travel - Hotel/Board & Lodging
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0640 · Travel - Parking & Toll
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0650 · Travel - Transportation
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0660 · Gas and Oil
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0670 · Repair & Maintenance - Vehicle
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0680 · Car & Fire Insurance
expense Result
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0720 · Telephone
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0730 · Internet
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0742 · Light
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0743 · Cleaning Expenses
s expense Result
5-0000 · Income:5-1000 · Calibration Service
5-0000 · Income:5-1200 · Service Discount
5-0000 · Income:5-1300 · On Site Fee
5-0000 · Income:5-1600 · Other Income
5-0000 · Income:5-2000 · Repair Service
tion and Repair Service Revenue Result
5000 · Cost of Goods Sold
5001 · Cost of Goods Sold - Sale of Goods
Sales - Calibration and Repair Service Revenue Result
77001 · *Exchange Gain or Loss
n Exchange Gain (Loss) Result
7-0000 · Other Income:7-1000 · Interest Income
t Income Result
Sale of Goods
Goods Result
12100 · Inventory Asset
1-3000 · Inventory

2-2000 · Payroll Liabilities:2-2010 · Withholding tax on Compensation

2-2000 · Payroll Liabilities:2-2020 · SSS Payable
2-2000 · Payroll Liabilities:2-2030 · SSS Loan Payable
2-2000 · Payroll Liabilities:2-2040 · Pag-ibig Payable
2-2000 · Payroll Liabilities:2-2050 · Pag-ibig Loan Payable
2-2000 · Payroll Liabilities:2-2060 · Philhealth Payable
2-3000 · Expanded Tax Payable
2-4000 · Accrued Expense:2-4010 · Accrued Statutory Remittances
2-4000 · Accrued Expense:2-4020 · Accrued Expense - Others
2-4000 · Accrued Expense:2-4030 · Accrued Light
2-4000 · Accrued Expense:2-4060 · Accrued 13th Month
2-4000 · Accrued Expense:2-4080 · Accrued Employees Welfare

2-6000 · Other Payables:2-6030 · Advances from Top Calibration

2-5500 · Output VAT

2-6000 · Other Payables:2-6070 · Unidentified Remittances

2-1000 · Accounts Payable-Trade (Php)

2-1010 · Accounts Payable-Trade (US$)

1-5000 · Property, Plant & Equipment:1-5010 · Furniture & Fixtures

1-5000 · Property, Plant & Equipment:1-5010 · Furniture & Fixtures:1-5011 · Accum. Dep'n - Furniture & Fixt

1-6000 · Other Assets:1-6010 · Intangibles

1-5000 · Property, Plant & Equipment:1-5050 · Leasehold Improvements

1-5000 · Property, Plant & Equipment:1-5050 · Leasehold Improvements:1-5051 · Accum. Dep'n - Leasehold Improv

1-5000 · Property, Plant & Equipment:1-5030 · Office Equipment

1-5000 · Property, Plant & Equipment:1-5030 · Office Equipment:1-5031 · Accum. Dep'n - Office Equipment

1-5000 · Property, Plant & Equipment:1-5020 · Plant Equipment

1-5000 · Property, Plant & Equipment:1-5020 · Plant Equipment:1-5021 · Accum. Dep'n - Plant Equipment

1-5000 · Property, Plant & Equipment:1-5040 · Transportation Equipment

1-5000 · Property, Plant & Equipment:1-5040 · Transportation Equipment:1-5041 · Accum. Dep'n - Transpo Equipmnt
ortation Result
1-4000 · Prepaid Items:1-4030 · Prepaid Association Dues
ation Result
1-6000 · Other Assets:1-6020 · Creditable Withholding Tax

2-5000 · Input VAT

1-4000 · Prepaid Items:1-4050 · Prepaid Insurance

1-4000 · Prepaid Items:1-4040 · Prepaid - Others
1-4000 · Prepaid Items:1-4060 · Prepaid Importation
2-7000 · Income Tax Payable

1-4000 · Prepaid Items:1-4010 · Prepaid Rent

1-4000 · Prepaid Items:1-4020 · Prepaid Security Deposit

9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

on for Income Tax Result
1-2500 · Other Receivables:1-2510 · Other Receivable-Advances
1-2500 · Other Receivables:1-2511 · Other Receivable-Employees
1-2500 · Other Receivables:1-2515 · Other Receivable-Top Calibration
1-2500 · Other Receivables:1-2520 · Other Receivable-Misc

1-2000 · Accounts Receivable-Trade (Php)

1-2010 · Accounts Receivable-Trade (US$)
(empty)
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 16 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 17 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
5-0000 · Income:5-1600 · Other Income
5-0000 · Income:5-2000 · Repair Service
5000 · Cost of Goods Sold - Calibration Service
5001 · Cost of Goods Sold - Sale of Goods
6-0000 · Operating Expenses:6-0100 · Wages and Salaries
6-0000 · Operating Expenses:6-0150 · Overtime
6-0000 · Operating Expenses:6-0200 · Commission Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0310 · SSS Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0320 · Philhealth Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0330 · Pag-ibig Expense
6-0000 · Operating Expenses:6-0400 · Employment Expenses:6-0420 · Health & Life Insurance
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0510 · EB - Bonus
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0520 · EB - Allowances
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0530 · EB - 13th Month Pay
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0540 · EB - Employees Welfare
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0570 · Other Benefits
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0630 · Travel - Hotel/Board & Lodging
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0640 · Travel - Parking & Toll
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0650 · Travel - Transportation
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0660 · Gas and Oil
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0670 · Repair & Maintenance - Vehicle
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0680 · Car & Fire Insurance
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0710 · Office Rental
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0720 · Telephone
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0730 · Internet
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0742 · Light
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0743 · Cleaning Expenses
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0761 · Freight-Standards use onsite
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0762 · Freight-Purchase of Stnds/Eqpt
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0763 · Freight-Calibration of PH Stnds
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0765 · Freight-Customer Equipment
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0766 · Freight-Purchase supplies/acces
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0767 · Freight- On loan standards
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0769 · FB-Purchase of Equipt for Sale
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0770 · Duties & Handling Fees
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0781 · Office Supplies
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0782 · Computer Software/Hardware Supp
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0783 · Non-capitalizable Assets
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0784 · Company Uniforms
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0810 · Bank Charges
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0820 · Depreciation Expense
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0830 · Amortization
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0840 · Repair & Maintenance - Building
6-0000 · Operating Expenses:6-0900 · Advertising Expense
6-0000 · Operating Expenses:6-1100 · Meals
6-0000 · Operating Expenses:6-1300 · Representation Expenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1410 · Corporate Licenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1420 · Car Registration
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1430 · Documentary Tax
6-0000 · Operating Expenses:6-1500 · Fees:6-1530 · Legal Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1560 · Professional Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1570 · Consultation Fee
6-0910 · Insurance Expense
7-0000 · Other Income:7-1000 · Interest Income
77001 · *Exchange Gain or Loss

Page 18 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 19 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 20 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 21 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 22 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 23 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 24 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 25 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account A

1-1010 · Cash in Bank - PHP Checking

Page 26 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account A
5-0000 · Income:5-1600 · Other Income
5-0000 · Income:5-2000 · Repair Service
5000 · Cost of Goods Sold - Calibration Service
5001 · Cost of Goods Sold - Sale of Goods
6-0000 · Operating Expenses:6-0100 · Wages and Salaries
6-0000 · Operating Expenses:6-0150 · Overtime
6-0000 · Operating Expenses:6-0200 · Commission Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0310 · SSS Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0320 · Philhealth Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0330 · Pag-ibig Expense
6-0000 · Operating Expenses:6-0400 · Employment Expenses:6-0420 · Health & Life Insurance
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0510 · EB - Bonus
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0520 · EB - Allowances
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0530 · EB - 13th Month Pay
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0540 · EB - Employees Welfare
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0570 · Other Benefits
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0630 · Travel - Hotel/Board & Lodging
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0640 · Travel - Parking & Toll
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0650 · Travel - Transportation
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0660 · Gas and Oil
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0670 · Repair & Maintenance - Vehicle
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0680 · Car & Fire Insurance
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0710 · Office Rental
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0720 · Telephone
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0730 · Internet
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0742 · Light
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0743 · Cleaning Expenses
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0761 · Freight-Standards use onsite
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0762 · Freight-Purchase of Stnds/Eqpt
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0763 · Freight-Calibration of PH Stnds
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0765 · Freight-Customer Equipment
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0766 · Freight-Purchase supplies/acces
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0767 · Freight- On loan standards
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0769 · FB-Purchase of Equipt for Sale
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0770 · Duties & Handling Fees
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0781 · Office Supplies
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0782 · Computer Software/Hardware Supp
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0783 · Non-capitalizable Assets
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0784 · Company Uniforms
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0810 · Bank Charges
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0820 · Depreciation Expense
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0830 · Amortization
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0840 · Repair & Maintenance - Building
6-0000 · Operating Expenses:6-0900 · Advertising Expense
6-0000 · Operating Expenses:6-1100 · Meals
6-0000 · Operating Expenses:6-1300 · Representation Expenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1410 · Corporate Licenses
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1420 · Car Registration
6-0000 · Operating Expenses:6-1400 · Taxes and Licenses:6-1430 · Documentary Tax
6-0000 · Operating Expenses:6-1500 · Fees:6-1530 · Legal Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1560 · Professional Fees
6-0000 · Operating Expenses:6-1500 · Fees:6-1570 · Consultation Fee
6-0910 · Insurance Expense
7-0000 · Other Income:7-1000 · Interest Income
77001 · *Exchange Gain or Loss

Page 27 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account A
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current
₱

Net Income
Overall Materiality
Performance Materiality

Page 28 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 29 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 30 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 31 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account A

1-1010 · Cash in Bank - PHP Checking

Page 32 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 33 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account A
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 34 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 35 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 36 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 37 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 38 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 39 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current P

Net Income
Overall Materiality
Performance Materiality

Page 40 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account

1-1010 · Cash in Bank - PHP Checking

Page 41 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Page 42 of 65
2:27 PM MICRO PRECISION CALIBRATION CEBU INC.
03/23/18
Accrual Basis
Trial Balance
As of December 31, 2017

Account
8-0000 · Other Expenses:8-2000 · Miscellaneous Expense
9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

Net Income
Overall Materiality
Performance Materiality

Page 43 of 65
Adjustments

5000 · Cost of Goods Sold - Calibration Service

5001 · Cost of Goods Sold - Sale of Goods
6-0000 · Operating Expenses:6-0100 · Wages and Salaries
6-0000 · Operating Expenses:6-0150 · Overtime
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0310 · SSS Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0320 · Philhealth Expense
6-0000 · Operating Expenses:6-0300 · Payroll Expenses:6-0330 · Pag-ibig Expense
6-0000 · Operating Expenses:6-0400 · Employment Expenses:6-0420 · Health & Life Insurance
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0510 · EB - Bonus
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0520 · EB - Allowances
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0530 · EB - 13th Month Pay
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0540 · EB - Employees Welfare
6-0000 · Operating Expenses:6-0500 · Employee's Benefits (EB):6-0570 · Other Benefits
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0630 · Travel - Hotel/Board & Lodging
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0640 · Travel - Parking & Toll
6-0000 · Operating Expenses:6-0600 · Travel Expenses:6-0650 · Travel - Transportation
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0710 · Office Rental
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0720 · Telephone
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0730 · Internet
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0740 · Utilities:6-0742 · Light
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0761 · Freight-Standards use onsite
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0762 · Freight-Purchase of Stnds/Eqpt
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0763 · Freight-Calibration of PH Stnds
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0765 · Freight-Customer Equipment
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0766 · Freight-Purchase supplies/acces
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0767 · Freight- On loan standards
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0760 · Freight Paid:6-0769 · FB-Purchase of Equipt for Sale
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0770 · Duties & Handling Fees
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0781 · Office Supplies
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0782 · Computer Software/Hardware Supp
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0783 · Non-capitalizable Assets
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0780 · Supplies:6-0784 · Company Uniforms
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0820 · Depreciation Expense
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0830 · Amortization
6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0840 · Repair & Maintenance - Building
6-0000 · Operating Expenses:6-1100 · Meals
6-0000 · Operating Expenses:6-1500 · Fees:6-1570 · Consultation Fee
To reclassify operating expenses to cost of goods sold
Dr Cr
4,114,853.78
34,148.42
785,401.95
189,787.50
67,235.00
12,829.26
5,300.00
19,220.42
63,738.24
107,500.00
66,057.32
50,888.94
5,000.00
780.00
60.00
85,098.00
562,936.52
55,975.38
79,798.39
218,850.10
540.00
30,911.24
35,569.71
13,036.32
21,884.30
433,804.66
34,486.96
69,700.18
38,948.81
5,248.71
208,861.23
8,633.71
7,107.47
5,668.58
140,587.22
623,438.17
3,782.22
8,839.29
74,746.40
6,750.00
Best Calibration Inc.
STATEMENT OF FINANCIAL POSITION
As of December 31, 2022
ACCOUNTS FS

ASSETS
Cash and Cash Equivalents Cash
Receivables Receivables
Inventory Inventory
Prepayments Prepayments
Total Current Assets

Security deposit Prepayments

PPE PPE 4,842,730.41
Less: Accumulated Depreciation 2,952,288.57
DTA DTA
Intangibles PPE
Total Noncurrent

TOTAL ASSETS

LIABILITIES AND EQUITY

Payables and Other Liabilities Payables
Advances from related party Payables
Total Liabilities

Share Capital Capital

Retained Earnings Capital
Total Capital

TOTAL LIABILITIES AND EQUITY

n Inc.
CIAL POSITION
31, 2022
2022 Movement

751,059.75
2,343,459.65
454,258.19
1,422,902.56
4,971,680.15 (4,971,680.15)

449,372.60

1,890,441.84
0.00
17,981.15
2,357,795.59 (2,357,795.59)

7,329,475.74 (7,329,475.74)

1,216,255.14
3,823,402.59
5,039,657.73 (5,039,657.73)

1,000,000.00
1,289,818.01
2,289,818.01 (2,289,818.01)

7,329,475.74 (7,329,475.74)
Best Calibration Inc.
STATEMENT OF CHANGES IN OWNER'S EQUITY
For the year ended 2022
Accounts 2022
Share Capital 1,000,000.00
Retained Earnings 512,291.27
Add: Net Income 777,526.74 1,289,818.01
Equity, Dec. 31, 2022 2,289,818.01
Best Calibration Inc.
INCOME STATEMENT
For the year ended 2022
FS
Revenue:
Calibration and Repair Service Revenue Income 7,720,154.03
Sale of Goods Income 178,955.53
Less: Cost of Sales
Calibration and Repair Service Revenue Income 4,824,800.12
Sale of Goods Income 34,148.42
GROSS PROFIT
Less: Operating Expenses
Salaries and allowances Expenses 764,024.58
Depreciation and amortization Expenses 240,265.74
Travel expense Expenses 105,650.29
Rental expense Expenses 241,258.55
Professional fees Expenses 120,000.00
Utilities expense Expenses 185,618.93
Association dues Expenses 75,251.67
Taxes and licenses Expenses 100,577.68
Advertising Expenses 14,875.00
Supplies expense Expenses 99,116.39
Insurance Expenses 980.00
Miscellaneous expense Expenses 52,452.37
NET PROFIT
Other Income (Losses)
Interest Income Income
Foreign Exchange Gain (Loss) Income
INCOME BEFORE INCOME TAX
Less: Provision for Income Tax Provision for Income Tax
NET INCOME AFTER TAX
2022

7,899,109.56

4,858,948.54
3,040,161.02

1,028.47

2,000,071.20
1,041,118.29

1,664.19
4,976.17
1,037,806.31
260,279.57
777,526.74
Best Calibration Inc.
STATEMENT OF CASH FLOWS
For the year ended 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss) for the period 777,526.00
Adjustments 240,266.00
Operating loss before working capital changes 1,017,792.00
Changes in working capital:
Decrease (Increase) in receivables (947,590.00)
Increase in prepayments (47,871.00)
Increase in inventory (147,495.00)
Increase in accrued and other liabilities 446,655.00
Net cash used in operating activities 321,491.00

CASH FLOWS FROM INVESTING ACTIVITY

Acquisition of property and equipment 504,709.00
Acquisition of intangibles (9,165.00)
Security deposits (23,520.00)
Net cash used from financing activity 472,024.00

CASH FLOWS FROM FINANCING ACTIVITY

Issuance of capital stocks -
Advances from (payment to) related parties (408,942.00)
Net cash generated from financing activity (408,942.00)

NET CHANGES IN CASH 384,573.00

CASH AT THE BEGINNING OF THE YEAR 366,487.00
CASH AT THE END OF THE YEAR 751,060.00
Bank Reconciliation - BPI Php Acct# 8291-0123-11
As of December 31, 2022

PER BOOK PER BANK

UNADJUSTED BALANCE 375,782.12 375,782.12

Add (Deduct) Reconciling Items

ADJUSTED BALANCE 375,782.12 375,782.12

0.00

Audit Note: Validated against bank statement. No reconciling item noted.

Bank Reconciliation - BPI Php Acct# 8293-0938-74 SA
As of December 31, 2022

PER BOOK PER BANK

UNADJUSTED BALANCE 12,765.00 12,765.00

Add (Deduct) Reconciling Items

ADJUSTED BALANCE 12,765.00 12,765.00

0.00

Audit Note: Immaterial, no audit procedure performed.

Bank Reconciliation - BPI USD Acct# 8294-0469-77
As of December 31, 2022

PER BOOK PER BANK

USD PHP USD PHP
UNADJUSTED BALANCE 6,728.55 343,824.66 6,728.55 323,212.63

Add (Deduct) Reconciling Items

Restatement (20,612.03)

ADJUSTED BALANCE 6,728.55 323,212.63 6,728.55 323,212.63

0.00 0.00

48.036 48.036

Entry:
Exchange Gain / Loss 20,612.03

Cash in Bank - BPI USD 20,612.03

Audit Note: USD balance validated against bank statement. No reconciling item noted.
Exchange rate as of 12/29/2020 (last working day for 2020) was validated against Daily PHP/USD Rate from Bangko Sentral ng Pilipinas website.
Date Num Name Memo

01/13/2017 01-10070 Christine Salisid 10k Petty Cash set-up for J. Jamoralin at MPC Cebu
01/13/2017 01-10071 Jeffrey Icalia 10k Petty Cash set-up for J. Icalia for MPC Cebu
03/28/2017 01-10131 Christine Salisid 10k additional Petty Cash set-up for J. Jamoralin at MPC Cebu

TOTAL PETTY CASH

Audit Note: Immaterial, no audit procedure performed.

Amount

10,000.00
10,000.00
10,000.00

30,000.00
Accounts Receivable (Php)
As of December 31, 2022

Subsequent
DATE INVOICE CUSTOMER PARTICULARS AMOUNT Collection

08/27/2020 BS0964 ABBINC00CB 3563005814 19,040.00

12/23/2020 BS1217 AMSWISS0CB 262-20 22,000.00
12/23/2020 BS1220 CEBUTOYOCB 9914 3,500.00
12/11/2020 BS1186 DRAKAPHICB_PHP4400427688 6,600.00
12/21/2020 BS1209 DRAKAPHICB_PHP4400427688 7,500.00
10/23/2020 BS1069 DRAKAPHICB_PHP4501366203 25,500.00
10/23/2020 BS1097 DRAKAPHICB_PHP4501350712 2,500.00
12/21/2020 BS1207 FUJIMOLDCB 01-A-0000000785 14,500.00
11/19/2020 BS1129 General Milling CorpGEN-Q-072320-CEB 4,200.00
12/09/2020 BS1172 INAMICROCB GA16817 8,000.00
11/06/2019 BS0637 LEARGAB0CB PH521026 5,000.00
12/16/2020 BS1198 LEARPETCCB PH777966 2,250.00
12/16/2020 BS1199 LEARPETCCB PH834014 45,000.00
12/16/2020 BS1200 LEARPETCCB PH834015 15,000.00
12/16/2020 BS1201 LEARPETCCB PH855828 16,000.00
10/12/2020 BS1053 LEARPETCCB PH770305 7,500.00
10/27/2020 BS1081 LEARPETCCB PH777966 96,000.00
10/28/2020 BS1096 LEARPETCCB PH770305 5,500.00
09/08/2020 BS0985 LEARPETCCB PH666188 3,400.00
09/09/2020 BS0988 LEARPETCCB PH666188 16,500.00
11/30/2020 BS1203 MPC PH TBA 93,753.83
12/22/2020 BS1215 MSMCEBU0CB 61806 14,400.00
12/22/2020 BS1216 MSMCEBU0CB 61806 6,000.00
05/26/2020 BS0837 TERESA00CB THE-Q-032420-CEB 6,720.00
12/16/2020 BS1206 TOYOCCMFCB QA-202172-RP 19,500.00
12/21/2020 BS1213 TOYOCCMFCB QA-202171-RP 29,400.00
09/03/2020 BS0977 TOYOCCMFCB QA-201430-RP 43,950.00
09/15/2020 BS1001 TOYOCCMFCB QA-201430-RP 4,800.00
09/15/2020 BS1004 TOYOCCMFCB QA-201430-RP 4,000.00
08/27/2020 BS0962 TOYOCCMFCB QA-201430-RP 31,800.00

11/23/2020 BS1138 AMSWISS0CB 225-20 35,000.00 01/22/2021

10/26/2020 BS1073 APOLLO00CB APO-Q-081820-CEB 14,560.00 01/21/2021
11/05/2020 BS1110 ATOMED00CB 1004027 2,000.00 01/22/2021
10/12/2020 BS1050 ATOMED00CB 1003715 1,500.00 01/22/2021
10/26/2020 BS1075 ATOMED00CB 1003715 31,500.00 01/22/2021
10/26/2020 BS1079 ATOMED00CB 1003947 2,550.00 01/22/2021
10/28/2020 BS1095 ATOMED00CB 1003947 250.00 01/22/2021
09/08/2020 BS0984 ATOMED00CB 1003509 4,000.00 01/22/2021
09/11/2020 BS0997 ATOMED00CB 1003509 7,000.00 01/22/2021
12/02/2020 BS1161 AUTOLIV0CB 16021 1,300.00 01/13/2021
12/02/2020 BS1162 AUTOLIV0CB 16163 11,500.00 01/13/2021
12/14/2020 BS1187 AUTOLIV0CB 16021 2,000.00 01/13/2021
12/14/2020 BS1188 AUTOLIV0CB 16073 6,000.00 01/13/2021
12/16/2020 BS1196 AUTOLIV0CB 16163 2,400.00 01/13/2021
11/19/2020 BS1131 AUTOLIV0CB 15717 8,000.00 01/13/2021
11/19/2020 BS1132 AUTOLIV0CB 16021 1,300.00 01/13/2021
11/23/2020 BS1139 AUTOLIV0CB 16021 32,000.00 01/13/2021
11/23/2020 BS1145 AUTOLIV0CB 16021 26,200.00 01/13/2021
11/25/2020 BS1152 AUTOLIV0CB 16073 6,000.00 01/13/2021
11/23/2020 BS1147 CEBUMICRCB 16724 173,000.00 01/22/2021
11/23/2020 BS1148 CEBUMICRCB 16724 117,500.00 01/22/2021
12/16/2020 BS1197 CEBUTOYOCB 9886 36,150.00 01/22/2021
12/02/2020 BS1163 DELFINGECB 170003798 10,000.00 01/22/2021
11/09/2020 BS1113 DRAKAPHICB_PHP4501350712 2,500.00 01/07/2021
11/11/2020 BS1118 DRAKAPHICB_PHP4501366203 29,250.00 01/07/2021
11/19/2020 BS1128 General Milling CorpCMS-8400002541 19,600.00 02/10/2021
11/19/2020 BS1137 General Milling CorpCMS-8400002541 11,200.00 02/10/2021
09/28/2020 BS1029 INAMICROCB GA16773 6,000.00 01/22/2021
08/24/2020 BS0955 INAMICROCB GA16719 47,300.00 01/22/2021
12/09/2020 BS1168 MERASENKCB MPC000000000028 97,350.00 01/22/2021
12/09/2020 BS1169 MERASENKCB MPC000000000030 19,900.00 01/22/2021
11/05/2020 BS1109 MERASENKCB MPC000000000032 4,500.00 01/22/2021
11/19/2020 BS1133 MERASENKCB MPC000000000032 2,500.00 01/22/2021
11/27/2020 BS1157 MERASENKCB MPC000000000033 9,000.00 01/22/2021
11/27/2020 BS1158 MERASENKCB MPC000000000033 7,500.00 01/22/2021
12/09/2020 BS1170 MERASENKCB MPC000000000033 20,000.00 01/29/2021
12/21/2020 BS1208 MERASENKCB MPC000000000033 61,800.00 01/29/2021
12/31/2020 BS1226 MPC PH TBA 88,773.58 01/22/2021
12/09/2020 BS1174 MSMCEBU0CB 61608 5,250.00 01/22/2021
12/09/2020 BS1175 MSMCEBU0CB 61608 5,800.00 01/22/2021
12/09/2020 BS1176 MSMCEBU0CB 61608 14,400.00 01/22/2021
12/09/2020 BS1177 MSMCEBU0CB 61608 16,800.00 01/22/2021
12/09/2020 BS1178 MSMCEBU0CB 61608 14,400.00 01/22/2021
12/21/2020 BS1210 MSMCEBU0CB 61806 1,500.00 01/22/2021
12/21/2020 BS1211 MSMCEBU0CB 61806 4,600.00 01/22/2021
12/21/2020 BS1212 MSMCEBU0CB 61806 14,300.00 01/22/2021
12/02/2020 BS1164 NKKSMI00CB 018 6,000.00 01/22/2021
12/01/2020 BS1160 NSPC0000CB NSPCJO20-0049 1,700.00 01/22/2021
11/25/2020 BS1153 NSPC0000CB NSPCJO20-0049 1,500.00 01/22/2021
12/16/2020 BS1205 QUESTDENCB_PH005891 5,000.00 01/22/2021
12/23/2020 BS1218 QUESTDENCB_PH005891 5,000.00 01/22/2021
11/25/2020 BS1154 QUESTDENCB_PH005788 2,500.00 01/22/2021
12/14/2020 BS1189 RICOH000CB 00032833 25,650.00 02/10/2021
12/14/2020 BS1190 RICOH000CB 00033157 10,000.00 02/10/2021
12/14/2020 BS1191 RICOH000CB 00033399 7,500.00 02/10/2021
11/23/2020 BS1142 RICOH000CB 00032887 7,000.00 02/10/2021
12/02/2020 BS1165 SAWOINC0CB PO027823 3,250.00 01/22/2021
11/27/2020 BS1159 SAWOINC0CB PO027823 3,000.00 01/22/2021
11/23/2020 BS1143 TAMIYA00CB PO202120 1,000.00 01/14/2021
12/09/2020 BS1171 TOYOCCMFCB QA-202030-RP 10,800.00 01/22/2021
12/09/2020 BS1179 TOYOCCMFCB QA202030-RP 4,000.00 01/22/2021
12/09/2020 BS1180 TOYOCCMFCB QA-202030-RP 3,000.00 01/22/2021
12/09/2020 BS1181 TOYOCCMFCB QA-202030-RP 2,500.00 01/22/2021
12/09/2020 BS1183 TOYOCCMFCB QA-202058-RP 17,000.00 01/22/2021
12/09/2020 BS1184 TOYOCCMFCB QA-202058-RP 37,000.00 01/22/2021
12/14/2020 BS1193 TOYOCCMFCB QA-202058-RP 8,000.00 01/22/2021
11/16/2020 BS1122 TOYOCCMFCB QA-201646-RP 9,000.00 01/22/2021
11/16/2020 BS1123 TOYOCCMFCB QA-201865-RP 1,000.00 01/22/2021
11/16/2020 BS1124 TOYOCCMFCB QA-201865-RP 6,000.00 01/22/2021
11/19/2020 BS1136 TOYOCCMFCB QA-201991-RP 4,800.00 01/22/2021
10/26/2020 BS1071 TOYOCCMFCB QA-201826-RP 115,400.00 01/22/2021
09/30/2020 BS1037 TOYOCCMFCB QA-201646-RP 11,000.00 01/22/2021
12/02/2020 BS1166 TOYOFLEXCB QA-207733-RP 2,500.00 01/22/2021
12/02/2020 BS1167 TOYOFLEXCB QA-208316-RP 30,000.00 01/22/2021
12/10/2020 BS1185 TOYOFLEXCB QA-208574-RP 46,000.00 01/22/2021
11/16/2020 BS1121 TOYOFLEXCB QA-208429-RP 2,400.00 01/22/2021
11/23/2020 BS1144 TOYOFLEXCB QA-207570-RP 3,600.00 01/22/2021
10/12/2020 BS1043 TOYOFLEXCB QA-207733-RP 5,000.00 01/22/2021
10/13/2020 BS1056 TOYOFLEXCB QA-207570-RP 3,600.00 01/22/2021
10/27/2020 BS1086 TOYOFLEXCB QA-207946-RP 14,500.00 01/22/2021
09/02/2020 BS0967 TOYOFLEXCB QA-207570-RP 45,500.00 01/22/2021
09/24/2020 BS1018 TOYOFLEXCB QA-207733-RP 1,500.00 01/22/2021
12/14/2020 BS1192 TRISHKAYCB 20-048-PO-201203 5,600.00 01/05/2021
12/09/2020 BS1182 VARIAN00CB V2022 10,080.00 01/07/2021

TOTAL ACCOUNTS RECEIVABLE - PHP 2,094,627.41

OR Reference

OR0870
OR0373
OR0953
OR0952
OR0954
OR0954
OR0953
OR0951
OR0559
OR0376
OR0376
OR0376
OR0376
OR0376
OR0376
OR0376
OR0376
OR0376
OR0376
OR0873 vouched and verified against invoice and OR
OR0873 vouched and verified against invoice and OR
OR0955
OR0377
OR0371
OR0371
OR0877
OR0877
OR0962
OR0961
OR0372 vouched and verified against invoice and OR
OR0372 vouched and verified against invoice and OR
OR0372 vouched and verified against invoice and OR
OR0372 vouched and verified against invoice and OR
OR0372 vouched and verified against invoice and OR
OR0372 vouched and verified against invoice and OR
OR0378
OR0378
OR0379
OR0869
OR0869
OR0869
OR0869
OR0869
OR0869
OR0869
OR0869
OR0959
OR0960
OR0960
OR0957
OR0957
OR0956
OR0876
OR0876
OR0876
OR0875
OR0958
OR0958
OR0548
OR0871
OR0871
OR0871
OR0871
OR0871
OR0871
OR0871
OR0872 vouched and verified against invoice and OR
OR0872 vouched and verified against invoice and OR
OR0872 vouched and verified against invoice and OR
OR0872 vouched and verified against invoice and OR
OR0872 vouched and verified against invoice and OR
OR0872 vouched and verified against invoice and OR
OR0871
OR0871
OR0871
OR0872
OR0872
OR0871
OR0872
OR0872
OR0872
OR0871
OR0369
OR0370
Accounts Receivable (Usd)
As of December 31, 2022

Date Num Customer Particulars USD Amount

11/16/2020 BS1125 LEXMARK2CB 2000099495 340.00

11/16/2020 BS1126 LEXMARK2CB 2000100574 850.00
12/09/2020 BS1173 LEXMARK2CB 2000100574 300.00

12/23/2020 BS1219 LEXMARK2CB 2000100574 100.00

12/21/2020 BS1214 NIHON000CB NDPI 2000693 1,870.00
10/30/2020 CMCB0004 TICLARK0CB 0.00

TOTAL ACCOUNTS RECEIVABLE - USD 3,460.00

Forex Rate 48.036

Forex Gain

Restatement Entry: OK with QB

Forex Loss
Original Peso Orig Dec 31 Forex Loss Subsequent
Amount Forex Rate Restated Peso (Gain) Collection OR Ref

17,393.38 51.157 48.036 16,332.24 1,061.14 01/15/2021 OR0374

43,483.45 51.157 48.036 40,830.60 2,652.85 01/15/2021 OR0374
15,347.10 51.157 48.036 14,410.80 936.30 01/15/2021 OR0374

5,115.70 51.157 48.036 4,803.60 312.10

95,663.59 51.157 48.036 89,827.32 5,836.27
(1,404.20) 51.157 48.036 0.00 (1,404.20)

175,599.02 166,204.56 9,394.46

166,204.56 0.00

(9,394.46) 0.00

statement Entry: OK with QB

9,394.46

A/R - Trade (USD) 9,394.46

PPE Schedule

Machinery and
Leasehold Improvement
Equipment
Cost
At January 1, 2023 465,052 3,174,901
Additions 38,010 257,144
At December 31, 2023 503,062 3,432,045

Accumulated Depreciation
At January 1, 2023 179,722 716,316
Depreciation for the year 92,160 740,911
At December 31, 2023 271,882 1,457,227

Net Book Value

December 31, 2022 285,330 2,458,584
December 31, 2023 231,180 1,974,818

Cost
At January 1, 2022 503,062.00 3,432,045.00
Additions 0 118,729
At December 31, 2022 503,062.00 3,550,773.96

Accumulated Depreciation
At January 1, 2022 271,882 1,457,227
Depreciation for the year 98,620 600,988
At December 31, 2022 370,502 2,058,215

Net Book Value

December 31, 2021 231,180 1,974,818
December 31, 2022 132,560 1,492,559
Transportation
Furniture and Fixtures Total
Equipment

158,893 630,000 4,428,846

– – 295,154
158,893 630,000 4,724,000

50,707 147,000 1,093,745

40,083 126,000 999,154
90,790 273,000 2,092,999

108,186 483,000 3,335,101

68,103 357,000 2,631,101

158,893.00 630,000.00 4,724,000.00

0 0 118,728.96
158,893.00 630,000.00 4,842,728.96

90,790 273,000 2,092,899

33,780 126,000 859,388
124,570 399,000 2,952,287

68,103 357,000 2,631,101

34,323 231,000 1,890,442

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Calib

Uploaded by

Calib

Uploaded by

GL Accounts

1-1010 · Cash in Bank - PHP Checking

4-0000 · Retained Earnings

6-0000 · Operating Expenses:6-0900 · Advertising Expense

6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0800 · Association Dues

6-0000 · Operating Expenses:6-0700 · Office Expenses:6-0750 · Postage

2-2000 · Payroll Liabilities:2-2010 · Withholding tax on Compensation

2-6000 · Other Payables:2-6030 · Advances from Top Calibration

2-5500 · Output VAT

2-1000 · Accounts Payable-Trade (Php)

1-5000 · Property, Plant & Equipment:1-5010 · Furniture & Fixtures

1-6000 · Other Assets:1-6010 · Intangibles

1-5000 · Property, Plant & Equipment:1-5050 · Leasehold Improvements

1-5000 · Property, Plant & Equipment:1-5030 · Office Equipment

1-5000 · Property, Plant & Equipment:1-5020 · Plant Equipment

1-5000 · Property, Plant & Equipment:1-5040 · Transportation Equipment

2-5000 · Input VAT

1-4000 · Prepaid Items:1-4050 · Prepaid Insurance

1-4000 · Prepaid Items:1-4010 · Prepaid Rent

1-4000 · Prepaid Items:1-4020 · Prepaid Security Deposit

9-0000 · Provision for Income Tax:9-0001 · Provision for Inc. Tax-Current

1-2000 · Accounts Receivable-Trade (Php)

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

1-1010 · Cash in Bank - PHP Checking

5000 · Cost of Goods Sold - Calibration Service

Security deposit Prepayments

LIABILITIES AND EQUITY

Share Capital Capital

TOTAL LIABILITIES AND EQUITY

CASH FLOWS FROM INVESTING ACTIVITY

CASH FLOWS FROM FINANCING ACTIVITY

NET CHANGES IN CASH 384,573.00

PER BOOK PER BANK

Add (Deduct) Reconciling Items

ADJUSTED BALANCE 375,782.12 375,782.12

Audit Note: Validated against bank statement. No reconciling item noted.

PER BOOK PER BANK

Add (Deduct) Reconciling Items

ADJUSTED BALANCE 12,765.00 12,765.00

Audit Note: Immaterial, no audit procedure performed.

PER BOOK PER BANK

Add (Deduct) Reconciling Items

ADJUSTED BALANCE 6,728.55 323,212.63 6,728.55 323,212.63

Cash in Bank - BPI USD 20,612.03

TOTAL PETTY CASH

Audit Note: Immaterial, no audit procedure performed.

08/27/2020 BS0964 ABBINC00CB 3563005814 19,040.00

11/23/2020 BS1138 AMSWISS0CB 225-20 35,000.00 01/22/2021

TOTAL ACCOUNTS RECEIVABLE - PHP 2,094,627.41

Date Num Customer Particulars USD Amount

11/16/2020 BS1125 LEXMARK2CB 2000099495 340.00

12/23/2020 BS1219 LEXMARK2CB 2000100574 100.00

TOTAL ACCOUNTS RECEIVABLE - USD 3,460.00

Forex Rate 48.036

Restatement Entry: OK with QB

17,393.38 51.157 48.036 16,332.24 1,061.14 01/15/2021 OR0374

5,115.70 51.157 48.036 4,803.60 312.10

175,599.02 166,204.56 9,394.46

statement Entry: OK with QB

A/R - Trade (USD) 9,394.46

Net Book Value

Net Book Value

158,893 630,000 4,428,846

50,707 147,000 1,093,745

108,186 483,000 3,335,101

158,893.00 630,000.00 4,724,000.00

90,790 273,000 2,092,899

68,103 357,000 2,631,101

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