MUSIC MUSEUM

We hereby ACKNOWLEDGE receipt of the sum specified opposite our respective names as full compensation for our
services rendered for the period of July 16-31, 20xx.

WITHHOL SOCIAL
NAME GROSS PAY DING TAX SECURITY/MPF NHIP HDMF ADVANCES
TED FLORES 15,000.00 734.10 562.50 300.00 50.00
ROSE SANTOS 10,000.00 - 450.00 200.00 50.00 500.00
SHIRLEY YU 12,500.00 244.10 562.50 250.00 50.00
BEN CHAVEZ 7,500.00 - 337.50 150.00 50.00
45,000.00 978.20 1,912.50 900.00 200.00 500.00

EMPLOYER'S CONTRIBUTION TABLE

SSS/MPF EC HDMF NHIP TOTAL
TED FLORES 2,125.00 30.00 100.00 600.00 2,855.00
ROSE SANTOS 1,700.00 30.00 100.00 400.00 2,230.00
SHIRLEY YU 2,125.00 30.00 100.00 500.00 2,755.00
BEN CHAVEZ 1,275.00 30.00 100.00 300.00 1,705.00
7,225.00 120.00 400.00 1,800.00 9,545.00

Jul-19 Advances to Employees 500.00

cash 500.00

31 Salaries expense 45,000.00

Withholding tax payable 978.20
SS premium payable 1,912.50
NHIP premium payable 900.00
HDMF premium payable 200.00
Advances to employees 500.00
Cash 40,509.30

31 SS Premium expense 7,225.00

EC premium expense 120.00
HDMF premium expense 400.00
NHIP premium expense 1,800.00
SS premium payable 7,225.00
EC Premium payable 120.00
NHIP premium payable 1,800.00
HDMF premium payable 400.00
Aug-10 Withholding tax payable 1,956.40
Cash 1,956.40

SS premium payable 11,050.00

EC premium payable 120.00
Cash 11,170.00

HDMF premium payable 800.00

Cash 800.00

NHIP premium payable 3,600.00

cash 3,600.00
mpensation for our

TOTAL
DEDUCTIONS NET PAY TED
1,646.60 13,353.40 GROSS PAY 15,000.00
1,200.00 8,800.00 LESS: SSS, NHIP, HDMF 912.50
1,106.60 11,393.40 TAXABLE SEMI-MONTHLY COMPENSATION 14,087.50
537.50 6,962.50 LESS: 10,417.00
4,490.70 40,509.30 EXCESS ON 10,417 3,670.50
MULTIPLY IT BY 20%
30000 x 2% /2 semi monthly 734.10
20000 x 2% /2
25000 x 2% /2
15000 x 2% /2 SANTOS
GROSS PAY 10,000.00
LESS: SSS, NHIP, HDMF 700.00
TAXABLE SEMI-MONTHLY COMPENSATION 9,300.00

BELOW 10,417 NO TAX

YU
GROSS PAY 12,500.00
LESS: SSS, NHIP, HDMF 862.50
TAXABLE SEMI-MONTHLY COMPENSATION 11,637.50
LESS: 10,417.00
EXCESS ON 10,417 1,220.50
MULTIPLY IT BY 20%
244.10

978.20 15th%
978.2 31st

SS PREMIUM PAYABLE
august 10. 11,050.00 Jul-15 1,912.50 employee
31 1,912.50 employee
31 7,225.00 employer
11,050.00
CASH ON HAND AND CASH IN BANK
DR
CASH CASH ON HAND 5,000.00
CASH ON HAND ACCOUNTS RECEIVABLE
CASH IN BANK CURRENT
CHECK CASH ON HAND 10,000.00
payee SERVICE INCOME
imprest system
CASH IN BANK 15,000.00
cash in bank-bdo 124563 CASH ON HAND
cash in bank-bdo 5689556
cash in bank -china 125364 UTILITIES EXPENSE 4,500.00
CASH IN BANK

UTILITIES EXPENSE 4,500.00

CASH ON HAND
a111-start in investment
INVESTMENT OF THE OWNER-NON CASH ASSET
LAPTOP 2 YRS OLD LAND
COST 60,000.00
MARKET VALUE 35,000.00
BOOK VALUE 36,000.00

LAND
EQUIPMENT 35,000.00
SANTOS, CAPITAL 35,000.00
CR
CASH /BILLS
5,000.00

CHECK PDC
10,000.00

15,000.00

4,500.00

4,500.00

COST 1,500,000.00
MV 2,500,000.00
BANK LOAN 500,000.00

2,500,000.00
SANTOS, CAPITAL 2,000,000.00
LOAN PAYABLE 500,000.00