BONNIE'S BUD

FINANCIAL WORKSH
ACCOUNT TITLES
Cash
Accounts Receivable
Prepaid Insurance
Store Supplies
Merchandise Inventory
Store Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Common Stock
Retained Earnings, Beg
Dividends
Sales
Sales Discount
Purchases
Purchase Discount
Advertising Expense
Depreciation Expense
Insurance Expense- General
Insurance Expense- Selling
Rent Expense- General
Rent Expense- Selling
Salaries Expense- General
Salaries Expense- Selling
Store Supplies Expense
TOTAL
PROFIT/LOSS
BALANCE
MAY 21. 2012
UNADJUSTED TRIAL BALANCE
Debit
₱ 26,790.00
₱ 111,460.00
₱ 24,000.00
₱ 5,880.00
₱ 117,000.00
₱ 375,000.00
₱ 144,000.00
₱ 48,000.00
₱ 419,000.00
₱ 16,500.00
₱ 9,000.00
₱ 900.00
₱ 8,100.00
₱ 4,500.00
₱ 15,000.00
₱ 18,000.00
₱ 96,000.00
₱ 14,250.00
₱ 1,453,380.00
₱ 1,453,380.00

ASSETS
Cash
Accounts Receivable
Prepaid Insurance
Store Supplies
Merchandise Inventory
Store Equipment
LESS: Accumulated Depreciation
TOTAL ASSETS
 BONNIE'S BUDS
FINANCIAL WORKSHEET
MAY 21. 2012
DJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
Credit Debit Credit Debit Credit
₱ 26,790.00
₱ 111,460.00
₱ 24,000.00
₱ 5,880.00
₱ 117,000.00 ₱ 155,000.00 ₱ 155,000.00
₱ 375,000.00
₱ 152,250.00 ₱ 152,250.00
₱ 135,000.00 ₱ 135,000.00
₱ 12,300.00 ₱ 12,300.00
₱ 100,000.00 ₱ 100,000.00
₱ 239,505.00 ₱ 239,505.00
₱ 144,000.00
₱ 760,000.00 ₱ 760,000.00
₱ 48,000.00
₱ 419,000.00
₱ 54,325.00 ₱ 54,325.00
₱ 16,500.00
₱ 9,000.00
₱ 900.00
₱ 8,100.00
₱ 4,500.00
₱ 15,000.00
₱ 18,000.00
₱ 96,000.00
₱ 14,250.00
₱ 1,453,380.00 ₱ 766,250.00 ₱ 969,325.00 ₱ 842,130.00 ₱ 639,055.00
₱ 203,075.00 ₱ 203,075.00
₱ 1,453,380.00 ₱ 969,325.00 ₱ 969,325.00 ₱ 842,130.00 ₱ 842,130.00

AMOUNT
₱ 26,790.00
₱ 111,460.00
₱ 24,000.00
₱ 5,880.00
₱ 155,000.00
₱ 375,000.00
₱ (152,250.00)
₱ 850,380.00
 BALANCE PER BOOKS
Checking Account Balance as of Sept. 30 ₱ 8,720.23
Cash Receipts and deposited in Oct. ₱ 4,735.45
Checks Written during Oct. ₱ (4,828.88)
Checkbook Balance as of Oct. 31 ₱ 8,626.80

BALANCE PER BANK STATEMENT

Balance as of Sept. 30 ₱ 9,568.63
Deposits recorded in Oct. ₱ 4,382.07
Checks charge to acount in Oct. ₱ (4,512.21)
Other Adjustment ₱ 1,387.80
Balance as of Oct. 31 ₱ 10,826.29

PREPARATION OF BANK RECONCILIATION

BOOK BALANCE, END ₱ 8,626.80 BANK BALANCE, END

ADD: CREDIT MEMOS ₱ 1,460.00 ADD: DEPOSIT IN TRANSIT
LESS: DEBIT MEMOS ₱ (72.20) LESS: OUTSTANDING CHECKS
ADD/LESS: BOOK ERRORS ₱ (18.00) ADD/LESS: BANK ERRORS
ADJUSTED BALANCE ₱ 9,996.60 ADJUSTED BALANCE

ENTRIES:
TO RECORD NSF CHECK
ACCOUNTS RECEIVABLE ₱ 64.20
CASH ₱ 64.20
TO RECORD BANK SERVICE CHARGE
BANK SERVICECHARGE ₱ 8.00
CASH ₱ 8.00
TO RECORD BOOK ERROR:
ACCOUNTS PAYABLE ₱ 18.00
CASH ₱ 18.00
TO RECORD COLLECTION OF NOTE AND INCLUDING INTEREST
CASH ₱ 1,460.00
ACCOUNTS RECEIVABLE ₱ 1,460.00

SUPPORTING DETAILS:
DEPOSITS PER BOOK
DATE AMOUNT
OCT. 3 ₱ 545.25
OCT.8 ₱ 842.00
OCT. 11 ₱ 978.35
OCT. 16 ₱ 658.05
 OCT. 19 ₱ 643.90
OCT. 24 ₱ 352.62
OCT. 28 ₱ 715.28
DEPOSIT IN TRANSIT

CHECKS ISSUED PER BOOK

CHECK NO. AMOUNT
750
751 ₱ 361.90
752 ₱ 64.71
753 ₱ 462.18
754 ₱ 51.90
755 ₱ 869.52
756 ₱ 471.86
757 ₱ 165.20
758 ₱ 274.35
759 ₱ 246.60
760 VOID
761 ₱ 87.95
762 ₱ 719.27
763 ₱ 236.74
764 VOID
765 ₱ 210.00
₱ 615.70
TRANSPORTATION ERROR
N

₱ 10,826.29
₱ 715.28
₱ (1,544.97)
₱ -
₱ 9,996.60

TAILS:
DEPOSITS PER BANK
DATE AMOUNT
OCT. 1 ₱ 361.90
OCT. 4 ₱ 545.25
OCT. 9 ₱ 842.00
OCT. 12 ₱ 978.35
 OCT. 17 ₱ 658.05
OCT. 20 ₱ 643.90
OCT. 25 ₱ 352.62

CHECKS ISSUED PER BANK

CHECK NO. AMOUNT
740.00 ₱ 90.60
747.00 ₱ 217.45
748.00 ₱ 570.97
750.00 ₱ 361.90
751.00 ₱ 64.71
752.00 ₱ 462.18
753.00 ₱ 51.90
754.00 ₱ 869.52
755.00 ₱ 471.86
756.00 ₱ 156.20
757.00 ₱ 274.35
749.00 ₱ 331.28
758.00 ₱ 264.60
760.00 ₱ 87.95
762.00 ₱ 236.74

TRANSPORTATION ERROR
A
EA
Customer Due Total Past Due Not Yet Past Due
Attitudes for Hair 3,600.00 2,600.00
Beauty Box 7,500.00 5,600.00
Hair Affair 10,000.00 3,000.00
Headliners Salon 3,800.00 3,800.00
Ooh Lala Hair 800.00 -
Shears Paradise 3,500.00 -
TOTALS 29,200.00 15,000.00

Age in Days Receivable Balances

0-30 15,000.00
31-60 6,600.00
61-90 2,640.00
91-120 3,400.00
120-150 2,560.00

Age Interval Receivable Balances

Not Yet Due 15,000.00
1-30 Days Past Due 6,600.00
31-60 Days Past Due 2,640.00
91-120 3,400.00
120-150 2,560.00

GIVEN: The Allowance for Doubtful Accounts befo

AFDA

END ₱ 1,460.00

JOURNAL ENTRY:
Doubtful Accounts Expense
Allowance for Doubtful Accounts

GIVEN: The Allowance for Doubtful Accounts befo

 AFDA
₱ 250.00

`
END ₱ 1,460.00

JOURNAL ENTRY:
Doubtful Accounts Expense
Allowance for Doubtful Accounts

GIVEN: Assume that October's credit Sales were Php 70,000.

AFDA

END ₱ 1,400.00

JOURNAL ENTRY:
Doubtful Accounts Expense
Allowance for Doubtful Accounts
 EASY BREEZY SUPPLIES
1-30 Days Past Due 31-60 Days Past Due
700.00 -
1,900.00 -
3,000.00 2,000.00
- -
- -
1,000.00 1,400.00
6,600.00 3,400.00

Age Interval Percentage Uncollectible

Not Yet Due 1%
1-30 Days Past Due 3%
31-60 Days Past Due 5%
91-120 10%
120-150 25%

Percentage Uncollectible Required Allowance

1% ₱ 150.00
3% ₱ 198.00
5% ₱ 132.00
10% ₱ 340.00
25% ₱ 640.00
TOTAL AFDA, End ₱ 1,460.00

nce for Doubtful Accounts before adjustment has a credit balance of Php 500

AFDA
₱ 500.00 Beginning Blance
₱ 960.00 Bad Debts Expense

unts Expense 960.00

ance for Doubtful Accounts 960.00

nce for Doubtful Accounts before adjustment has a debit balance of Php 250
 AFDA

₱ 1,710.00 Bad Debts Expense

unts Expense 1,710.00

ance for Doubtful Accounts 1,710.00

credit Sales were Php 70,000. Uncollectible accounts expense estimated at 2% of sales.

AFDA

₱ 1,400.00 Bad Debts Expense

unts Expense ₱ 1,400.00

ance for Doubtful Accounts ₱ 1,400.00
 61-90 Days Past Due Over 90 Days Past Due
- 1,300.00
- -
2,000.00 -
- -
- 800.00
1,400.00 460.00
3,400.00 2,560.00

REQUIREMENT B.