GOLDEN LIVELIHOOD ASSOCIATION

Goldfield, Poblacion, Itogon, Benguet

STATEMENT OF OPERATION
For the Years Ended December 31, 2018 and 2017

Note 2018

REVENUES
Total Receipts ₱ 202,231.00
TOTAL REVENUES 202,231.00

EXPENSES 12
Less: Cost of Services 117,692.00
Gross Income 84,539.00
Less: Administrative Expenses 71,905.74
Income After Operating Expenses 12,633.26
Add: Other Income 2,967.50
Non-Cash Donation 737,637.79
NET INCOME (LOSS) FOR THE YEAR ₱ 753,238.55

"See Accompanying Notes to Financial Statements"

ON
et

nd 2017

2017 2016

₱ 39,252.50 ₱ 76,947.00
39,252.50 76,947.00

8,505.70 24,549.40
30,746.80 52,397.60
29,421.39 15,686.50
1,325.41 36,711.10
7,660.00 -
40,000.00
### ###

tatements"
 GOLDEN LIVELIHOOD ASSOCIATION
Goldfield, Poblacion, Itogon, Benguet

STATEMENT OF CASH FLOWS

For the Years Ended December 31, 2018 and 2017

Note

CASH FLOWS FROM OPERATING ACTIVITIES

Net Income (loss) for the Year
Adjustments to reconcile excess of revenue over expenses
to net cash used in operating activities
Non-Cash Donations
Depreciation 7
Decrease (Increase) in:
Accounts Receivable
Decrease (Increase) in:
Inventory
Increase (Decrease) in:
Accounts Payable
Net Cash Provided by Operating Activities

CASH FROM INVESTING ACTIVITIES

Purchase of Property and Equipment
Grant of Loans to Members
Collection of Loans to Members
Net Cash Provided by Investing Activities

CASH FROM FINANCING ACTIVITIES

Increase (Decrease) in:
Investments
(Increase) Decrease in:
Withdrawals
Net Cash Provided by Financing Activities

NET CASH FLOWS

Add: Cash and Cash Equivalent at the Beginning of the Year, Adj.
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR

"See Accompanying Notes to Financial Statements"

SSOCIATION
on, Benguet

H FLOWS
31, 2018 and 2017

2018 2017

₱753,238.55 ₱ 48,985.41

- 737,637.79 - 40,000.00
1,170.89 1,170.89

- -

7,296.30 - 15,796.30

- -
24,067.95 - 5,640.00

- -
- - 8,400.00
5,300.00 14,020.00
5,300.00 5,620.00

66,565.00 26,817.00

- 62,500.00 - 20,067.97
4,065.00 6,749.03

33,432.95 6,729.03
85,110.43 78,381.40
### ###

nancial Statements"
 GOLDEN LIVELIHOOD ASSOCIATION
Goldfield, Poblacion, Itogon, Benguet

STATEMENT OF FINANCIAL CONDITION

For the Years Ended December 31, 2017 and 2016

Note 2017

ASSETS
CURRENT ASSETS:
Cash and Cash Equivalents 2,5 ₱ 85,110.43
Accounts Receivable
Inventories 15,796.30
Loans Receivable 3,630.00
Total Current Assets 104,536.73

NONCURRENT ASSETS:
Land 40,000.00
Property and Equipment, Net 2,3,6 16,392.44
Total Non-Current Assets 56,392.44
TOTAL ASSETS ₱160,929.17

LIABILITIES AND FUND BALANCES

LIABILITIES
CURRENT LIABILITIES
Accounts Payable -
Total Current Liabilities -
TOTAL LIABILITIES -

FUND BALANCES
Fund Balance,Beginning (Adjusted) 105,194.73
Additional Investments 26,817.00
Withdrawals - 20,067.97
Add: Excess of Revenue over Expenses 48,985.41
Total Fund Balance, End 160,929.17
TOTAL FUND BALANCE 160,929.17
TOTAL LIABILITIES AND FUND BALANCES ₱160,929.17

"See Accompanying Notes to Financial Statements"

 2016

₱ 44,235.00
6,750.00

44,235.00

-
30,797.60
30,797.60
###

-
-
-

-
45,071.50
-
36,711.10
81,782.60
81,782.60
###

ts"
 GOLDEN LIVELIHOOD ASSOCIATION
Goldfield, Poblacion, Itogon, Benguet

STATEMENT OF CHANGES IN FUND BALANCES

For the Years Ended December 31, 2017 and 2016

Note 2017 2016

FUND BALANCE
Fund Balance, Beginning ₱ 81,782.60 ₱ -
Prior Period Adjustments:
Cash not Taken Up ₱ 34,146.40
Overstated Accounts Receivable -₱ 6,750.00
Loans Receivable Not Taken Up ₱ 9,250.00
Overstated Property & Equipment, net - 13,234.27
Adjusted, Beginning Balance ₱105,194.73 ₱ -
Additional Investments 26,817.00 45,071.50
Withdrawals - 20,067.97 -
Excess of Revenues over Expenses 48,985.41 36,711.10
Fund Balance, Ending 160,929.17 81,782.60
TOTAL FUND BALANCE ### ###

"See Accompanying Notes to Financial Statements"