Вы находитесь на странице: 1из 85

Shop Shop Shop Accounts

Cash Supplies Fixture Equipments Payable Capital Revenues


Bal. 25,000 23,500 55,000 170,000 25,000 248,500
a.) 11,500 11,500
Bal. 25,000 23,500 55,000 181,500 36,500 248,500
b.) -6,000 -6,000
Bal. 19,000 23,500 55,000 181,500 36,500 242,500
c.) -10,000 -10,000
Bal. 9,000 23,500 55,000 181,500 26,500 242,500
d.) 65,000 65,000
Bal. 74,000 23,500 55,000 181,500 26,500 242,500 65,000
e.) -24,000
Bal. 50,000 23,500 55,000 181,500 265,000 242,500 65,000
f.) -4,500
Bal. 50,000 19,000 55,000 181,500 26,500 242,500 65,000
Expense

-24,000
-24,000
-4,500
-28,500
Account Photo Camera Accounts
Cash Receivable` Supplies Equipments Payable Capital Revenues
a.) 300,000
Bal.
b.) -12,000
Bal. 288,000 300,000
c.) -220,000 220,000
Bal. 68,000 220,000 300,000
d.) 18,000 18,000
Bal. 68,000 18,000 220,000 18,000 300,000
e.) 45,000 45,000
Bal. 68,000 18,000 265,000 63,000 300,000
f.) 25,000 25,000
Bal. 23,000 18,000 265,000 63,000 300,000 25,000
g.) 30,000 30,000
Bal. 23,000 18,000 235,000 63,000 330,000 25,000
h.) -12,000 -12,000
Bal. 81,000 18,000 23,500 63,000 318,000 25,000
I.) -30,000 -30,000
Bal. 51,000 18,000 235,000 33,000 318,000 25,000
j.) 12,000 12,000
Bal. 51,000 12,000 18,000 235,000 33,000 318,000 37,000
k.) -6,000
Bal. 45,000 12,000 18,000 235,000 33,000 318,000 37,000
l.) -4,000
Bal. 45,000 12,000 14,000 235,000 33,000 318,000 37,000
Expense

-120,000
-12,000

-12,000

-12,000

-12,000

-12,000

-12,000

-12,000

-12,000

-12,000
-6,000
-18,000
-4,000
-22,000
AB Photo Arts
Income Statement
Perio Ended Oct 31 CY

Revenues P 37,0000
Less:Expense
Rent P 12,000
Salary 6,000
Supplies 4,000 22,000
Net Profit P 15,000

AB Photo Arts
Balance Sheet
Oct 31 CY

ASSETS
Cash P 45,000
Accounts Recievable 12,000
Photo Supplies 14,000
Camera & Equipment 295,000
P 366,000

AB Photo Arts
Statement of Cash Flows
OPERATING
Revenue collected
Expense Paid
Rent
Salary
INVESTING
Camera Bought
Partial Payment for Equipment
FINANCING
Initial Ivestment
Cash Withdrawal
AB Photo Arts
Statement of Owners Equity
Oct 31 CY
Beg. Capital P 300,000
Addt''l Investment P 30,000
Net Profits 15,000 45,000
Total P 345,000
Drawing 12,000
Ending Capital P 333,000

Assets and Liabilities


Accounts Payable P 33,000

Joni Capital 333,000

P 366,000

Photo Arts
t of Cash Flows

P 25,000

(12000.00)
(6,000) 7,000

(22,000)
(30,000) (250,000)

300,000
(12,000) 288,000
P 45,000
a.)
Date Particulars PR DR CR Date
Jan. 1 Cash P 25,000 P Jan. 11
J.M. Capital 25,000

2 Rent Expense 4,000


Cash 4,000

Insurace Expense 300 14


Cash 300

3 Cash 750 15
Fees Earned 750

Cash 5,000 16
Notes Payable 5,000

4 Taxes & Licenses 500 17


Cash 500

5 Cash 950 18
Fees Earned 950

Furniture 5,500 19
Cash 5,500

6 Taxes & Licenses 1,000 21


Cash 1,000

8 Cash 850 22
Fees Earned 850

Accounts Receivable 5,000 23


Fees Earned 5,000

10 JM Drawing 2,500 24
Cash 2,500
Particulars PR DR CR Date Particulars PR
Gas & Oil Expense P 600 P Jan. 25 Cash
Cash 600 Fees Earned

Cash 650 28 Light and Water Expense


Fees Earned 650 Cash

Salary Expense 2,500 29 Salary Expense


Cash 2,500 Cash

Office Equipment 30,000 30 Gas & Oil Expense


Notes Payable 30,000 Cash

Office Supplies 600 31 Communication Expense


Acconts Payable 600 Cash

Accounts Receivable 5,200


Fees Earned 5,200

Cash 3,000
Accounts Receivable 3,000

Cash 4,750
Fees Earned 4,750

Accounts Payable 600


Cash 600

Cash 10,000
JM Capital 10,000

Cash 2,500
Accounts Receivable 2,500

Notes Payable 30,000


Cash 30,000
DR CR Cash Notes Payable
P7,000 P P 25,000 P 4,000 P 30,000 P 5,000
7,000 750 300 EB 5,000 30,000
5,000 500 35,000 35,000
1,200 950 5,500
1,200 850 1,000
650 2,500 Accounts Payable
2,500 3,000 600 600 600
2,500 4,750 2,500
10,000 600
1,200 2,500 30,000 JM Capital
1,200 7,000 1,200 25,000
2,500 EB 35,000 10,000
800 1,200 35,000 35,000
800 800
EB 7,250
60,450 60,450 JM Drawing
EB 2,500

Accounts Receivable
5,000 3,000 Fees Earned
5,200 2,500 750
EB 4,700 950
10,200 10,200 850
5,000
Ofice Supplies 650
EB 600 5,200
4,750
7,000
Office Equipment 25,150
EB 30,000
Communicating Expense
EB 800
Office Furniture
EB 5,500
Gas & Oil Expense
600
1,200
EB 1,800

Insurance Expense
EB 300

Light & Water Expense


EB 1,200
Rent Expense
EB 4,000
Salary Expense Jose Masipag
2,500 Trial Balance
2,500 January 31 CY
EB 5,000
Accounts DR CR
Taxes & Licenses Expense Cash P 7,250 P
500 Accounts Receivable 4,700
1,000 Office Supplies 600
EB 1,500 Office Equipment 30,000
Offie Furniture 5,500
Notes Payable 5,000
JM Capital 35,000
JM Drawing 2,500
Fees Earned 25,150
Commuincation Epense 800
Gas & Oil Expense 1,800
Insurance Expense 300
Ligh & Water Expense 1,200
Rent Expense 4,000
Salary Expense 5,000
Taxes & Licenses 1,500
P 65,150 P 65,150
Cash P 22,500
Due from Customer 12,600
Notes Receivable 8,000
Furniture & Fixture 28,000
Office Equipment 50,000
Trucks 180,000
Total Assets 301,100
Less:LIABILITIES
Loan Payable 40,000
Due to Suppliers 14,000
Notes Payable 10,000 64,000
Ending Capital ( Owner's Equity) 237,100
Santos Trading Co.
Income Statement
Period Ended June 30, 200F

Service Income P 250,000


Less: Expenses
Rent 45,000
Salary 100,000
Advertising 40,000
Insurance 20,000
Utilities 3,800 208,800
Net Profit P 41,200

Santos Trading Co.


Statement of Owner's Equity
Beg. Capital P 50,000
Add: Notes Payable 41,200
Total 91,200
Less: Drawing 30,000
Endig Capital 61,200
Date Particulars PR DR CR Date
Jan. 1 Cash P 50,000 P Jan. 18
D. Salang Capital 50,000

Tools 25,500 20
Cash 25,500

Furniture & Fixture 12,520


Accounts Payable 12,520

2 Cash 10,260
Repair Income 10,260 21

4 Tools 1,565
D. Salang Capital 1,565 22

5 Notes Receivable 7,400


Repair Income 7,400
23
8 Cash 40,000
Loans Payable 40,000
24
9 Cash 5,000
Notes Payable 5,000
25
Advertising Expense 1,800
Cash 1,800
26
12 D.S. Drawing 2,000
Cash 2,000
27
15 Salaries Expense 16,700
Cash 16,700
28
17 Rent Expense 3,000
Cash 3,000
Particulars PR DR CR Date Particulars PR
OfficSupplies Expense P 4,236 P Jan. 30 Salaries Expense
Cash 4,236 Cash

Jeep 250,000 31 Cash


Cash 25,000 Repair Income
Accounts Payable 225,000

Cash 31,000
Repair Income 31,000

Insurance Expense 2,670


Cash 2,670

Tel & Telegrams 1,530.75


Light & Water 4,610.50
Cash 6,141.25

Loan Payable 30,000


Cash 30,000

Notes Payable 5,000


Cash 5,000

Cash 7,400
Notes Receivable 7,400

Accounts Payable 12,520


Notes Payable 12,520

Land 30,000
Accounts Payable 30,000

Cash 20,000
Notes Payable 20,000
b.)
DR CR
16,500 Cash Notes Paable
16,500 50,000 25,500 5,000 5,000
10,260 1,800 12,520
21,250 40,000 2,000
21,250 5,000 16,700
31,000 3,000 Accounts Payable
7,400 4,236 12,520 12,520
20,000 25,000 225,000
21,250 2,670 30,000
6,141.25
30,000 L/P
5,000 30,000 40,000
16,500
M/P
20,000
Tools
25,500
1,565

Furiture and Fixture


12,520

Jeep
250,000

Land
30,000
c.)
Quality Auto Repair Shop
D. Salang Capital Trial Balance
50,000 Jan. 31 CY
1,565
Account
D. Salang Drawing Cash
2,000 Tools
Furn. & Fix.
Repair Income Jeep
10,260 Land
7,400 N/P
31,000 A/P
21,250 L/P
M/P
Advertisig Expense D. Salang Capital
1,800 D. Salang Drawing
Repair Income
Salries Expense Advertising Expense
16,700 Salaries Expense
16,500 Office Supplies Expense
Rent Expesen
Office Supplies Expense Insurance Expense
4,236 Tel & Telegram Expese
Light & waer Expense
Rent Expense
3,000

Insurance Expense
2,670

Tel. & Telegrams


1,530.75

Light & Water


4,610.50
d.)
Repair Shop Quality Auto Repair Shop
alance Income Statement
31 CY Month Ended Jan 31 CY

DR CR Repair Income P 69,910


P 46,362.75 Less: Expense
27,065 Advertising P 1,800
12,520 Salaries 33,200
250,000 Office Supplies 4,236
30,000 Rent 3,000
12,520 Insurance 2,670
255,000 Tel & Telegram 1,530.75
10,000 Light & Water 461.50 51,047.25
20,000 Net Income P 18, 862.75
51,565
2,000
69,910
1,800
33,200
4,236
3,000
2,670
1,530.75
4,610.50
P 418,995 P 418,995
e.)
Quality Auto Repair Shop
Statement of Owner's Equity
Month Ended Jan. 31 CY

Beg. Capital P 50,000


Add: Additional Investment 1,565
Net Income 18,862.75 20,427.75
Total 70,427.75
Less: Drawing 2,000
Ending Capital P 68,427.75
f.)
Quality Auto Repair Shop
Statement5 of Cash Flows
Month Ended Jan. 31 CY

OPERATING
Repair Income Collected P 69,910
Expense Paid:
Advertising (1,800)
Salaries (33,200)
Office Supplies (4,236)
Rent (3,000)
Insurance (2,670)
Tel & Telegram (1,530.75)
Light & Water (4,610.50)
Net Cash Flow from Operations 18,862.75
INVESTING
Tools acquired (25,500)
Down Payment for Jeep (25,000)
Net Cash flow from Investing Activities (50,500)
FINANCING
Initial Investment 50,000
Borrowed money from PNB 40,000
Borrowed money from Security Bank 50,000
Mortgage the Land 20,000
Drawing (20,000)
Partial Payment (30,000)
Full Payment - Security Bank (5,000) 78,000
Net Cash Flow (Ending Cash Bal.) P 46, 362.75
1.)
Date Particulars PR DR CR
Feb. 1 Cash 101 P 200,000 P
Computer Equipment 103 265,000
D. Makita Capital 301 465,000

Furniture & Fixture 104 22,650


Accounts Payable 201 22,650

Taxes & Licenses Expense 501 8,150


Cash 101 8,150

2 Cash 101 22,000


Income from Internet 401 22,000

4 Rent Expense 502 12,000


Cash 101 12,000

5 Office Supplies Expense 503 1,260.80


Accounts Payable 201 1,260.80

6 Tools 102 2,500.30


Accounts Payable 201 2,500.30

7 Taxes & Licenses 501 2,010.50


Cash 101 2,010.50

9 Cash 101 20,000


Income from Internet 401 20,000

10 D. Makita Drawing 302 10,000


Cash 101 10,000

11 Miscellaneous Expense 503 1,250


Cash 101 1,250

12 Salaries 505 13,850


Cash 101 13,850
Date Particulars PR DR CR 2.)
Feb 13 Cash 101 11,080
Income from Internet 401 11,080

14 Office Equipment 105 25,000


Cash 101 10,000
Note Payable 202 15,000

15 Tel. Telegram Expense 506 1,925


Light & Water Expense 507 6,480
Cash 101 8,405

16 Computer Equipment 103 18,000


D. Makita Capital 301 18,000

17 Cash 101 250


Income from Fax Machine 402 250

18 Office Equipment 105 22,650


Cash 101 22,650

20 Cash 101 1,200


Income from Photo Copying 403 1,200

23 Cash 101 6,890


Income from Internet 401 6,890

25 Cash 101 12,000


Loan Payable 203 12,000

28 Salaries 505 12,670


Cash 101 12,670

Accounts Payable 201 1,000


Cash 101 1,000
Date Particulars PR DR Date Particulars PR CR
Feb. 1 J-1 200,000 Feb. 1 J-1 8,150
2 J-1 22,000 4 J-1 12,000
9 J-1 20,000 7 J-1 2,010.50
13 J-2 11,080 10 J-1 10,000
17 J-2 250 11 J-1 1,250
20 J-2 1,200 12 J-1 13,850
23 J-2 6,880 14 J-2 10,000
25 Bal. 171,434.50 J-2 12,000 15 J-2 8,405
273,410 18 J-2 22,650
28 J-2 12,670
31 J-2 10,000
110,985.50

TOOLS 102
Feb. 6 J-2 2,500.30

COMPUTER EQUIPMENT 103


Feb. 1 J-1 265,000
16 J-2 18,000
283,000

FURNITURE & FIXTURE 104


Feb. 1 J-1 22,650

OFFICE EQUIPMENT 105


Feb 14 J-2 25,000
18 J-2 22,650
47,650

ACCOUNTS PAYABLE 201


Feb. 28 J-2 1,000 Feb. 1 J-1 22,650
5 J-1 1,260.80
6 J-1 2,500.30
26,411

NOTES PAYABLE 202


Feb. 14 J-2 15,000
LOAN PAYABLE 203
Date Particulars PR DR Date Particulars PR CR
Feb. 25 J-2 12,000

D. MAKITA CAPITAL 301


Feb. 1 J-1 465,000
16 J-2 18,000

D. MAKITA DRAWING 302


Feb. 10 J-1 10,000

INCOME FROM INTERNET 401


Feb. 2 J-1 22,000
9 J-1 20,000
13 J-2 11,080
23 J-2 6,890
59,970

INCOME FOR FAX MACHINE 402


Feb 17 J-2 250

INCOME FROM PHOTO COPYING 403


Feb. 20 J-2 1,200

TAXES & LICENSES EXPENSE 501


Feb. 1 J-1 8,150
7 J-1 2,010.50
10,160.50

RENT EXPENSE 502


Feb. 4 J-1 12,000
OFFICE SUPPLIES EXPENSE 503
Date Particulars PR DR Date Particulars PR CR
Feb 5 J-1 1,260.80

MISCELLANEOUS EXPENSE 504


Feb. 11 J-1 1,250

SALARIES EXPENSE 505


Feb. 12 J-1 13,850
28 J-2 12,670
26,520

TEL & TELEGRAM EXPENSE 506


Feb. 15 J-2 1,925

LIGHT & WATER EXPENSE 507


Feb. 15 J-2 6,480
D.Makita
Trial Balance
Feb. 28 20CY

ACOUNTS DR CR
Cash P 171,434.50
Tools 2,500.30
Computer Equipment 283,000
Furniture & Fixture 22,650
Office Equipment 47,650
Accounts Payable 25,411.10
Notes Payable 15,000
Loan Payable 12,000
D. Makita Capital 483,000
D. Makita Drawing 10,000
Income from Internet 59,970
Income from Fax Machine 250
Income from Photo Copying 1,200
Taxes & Licenses 10,160.50
Rent Expense 12,000
Office Supplies Expense 1,260.80
Misc. Expense 1,250
Salaries Expense 26,520
Tel & Telegram Expenses 1,925
Light & Water Expense 6,480
596,831.10 596,831.10
4.)
D. Makita
Income Statement
Period Ended Feb. 28, 20CY

Income from Internet P 59,970


Income from Fax Machine 250
Income from Photo Copying 1,200
Total P 61,420
Less: Expenses:
Taxes & Licenses P 10,160.50
Rent . 12,000
Office Supplies 1,260.80
Misc. Ex[pense 1,250
Tel & Telegram 1,925
Light & Water 6,480 59,596.30
Net Profit P 1,823.70
D. Makita
Balance Sheet
Feb. 28 CY

ASSETS
Cash 171,434.50
Tools 2,500.30
Computer Equipment 283,000
Furniture & Fixture 22,650
Office Rquipment 47,650
527,234.80

LLIABILITIES & CAPITAL


Accounts Payable 25,411.10
Notes Payable 15,000
Loans Payable 12,000
Total 52,411.10
Beg. Capital 465,000
Addt'l Investment 18,000
Net Profit 1,823.70
Total 484,823.70
Drawing 10,000 474,823.70
527,234.80
1.) 2.)
Rey's Auto Repair Shop a. Cash
Trial Balance Rey Capital
Dec. 31, 20CY Initial Investment

ACCOUNTS DR CR b. Cash
Cash 75,600 Service iNcome
Accounts Receivable 5,000 Cash Service Rendered
Notes Receivable 1,000
Tools 1,000 c. Cash
Furniture & Fixture 4,000 Loan Payable
O/E 21,000 Secured a Loan
Machinery 50,000
Accounts Payable 16,500 d. Cash
Notes Payable 2,200 Accounts Receivable
Loan Payable 25,000 Collection of A/C
Rey Capital 124,500
Rey Drawing 7,000 e. Cash
Service Income 23,700 Notes Receivable
Rent Income 8,000 Collection of Note
Salaries Expense 15,000
Advertising Expense 3,600 f. Cash
Taxes & Licenses 3,000 Rent Income
Insurance Expense 1,250 Rental Income Collected
Misc. Expense 450
Rent Expense 12,000 g. Machinery
199,900 199,900 Cash
Machinery Bought for Cash

h. Taxes & Licenses Expenses


Cash
Taxes Paid

I. tools
Cash
Tools bought for Cash

j. Rent Expense
Cash

k. Salaries Expense
Cash
120,000 l. Notes Payable 1,800
120,000 Cash 1,800
Paid the Note

9,200 m. Rey Drawing 7,000


9,200 Cash 7,000
Cash Withdrawal of the Owner

25,000 n. Advertising Expense 3,600


25,000 Cash 3,600
Advertising Paid

6,000 n. Misc. Expense 450


6,000 Cash 450
Misc. Exp. Paid

2,500 o. Insurance Expense 1,250


2,500 Cash 1,250
Insurance Paid

8,000 p. Accounts receivable 11,000


8,000 Service Income 11,000
Service rendered on A/C

50,000 q. N/R 3,500


50,000 Service Income 3,500
Received a note for service rendered

3,000 r. Furniture & Fixture 4,000


3,000 Notes Payable 4,000
Purchased Furniture on A/C

1,000 s. O/E 16,500


1,000 Accounts Payable 16,500

f. O/E 4,500
12,000 Rey Capital 4,500
12,000 The Owner invested Equipment

15,000
15,000
1& 2
Cash Accounts Payable
10,500 3,700 6,600 2,200
4,500 12,000
10,000 6,600
50,000 3,000
4,000
27,000

Accounts Receivable Loans Payable


8,400 4,500 3,000 5,000

Firniture Joni Capital


12,600 58,500
3,750 10,000

Repair Equipment Joni Drawing


54,500 4,000
12,000

Service Income
50,000

Expenses
27,000

3
Joni's Repair Shop
Statement of Owner's Equity
Month Ended Jan. 31

Beg. Capital 58,500


Add:Additional Investment 10,000
Net Income (50000-27000) 23,000 33,000
Total 91,500
Less:Drawings 4,000
Ending Capital 87,500

4
Joni's Repair Shop
Balance Sheet
Jan. 31, 200E

Assets

Cash 18,700
Account Recievable 3,900
Furniture 16,300
Repair Equipment 66,000

104,900

5
Joni's Repair Shop
Statement of Cash Flows
Month Ended Jan. 31, 200E

OPERATING
Service Income 50,000
Collection of Accounts Receivable 4,500
Payments of Accounts Payable (6,600)
Expenses (27,000)
Net Cash flows from Operation 20,900
INVESTING
Furniture (3,700)
Repair Equipment (12,000)
Net Cash flows from Investing Activities -15,700
FINANCING
Additional Investment 10,000
Drawing (4,000)
Payment of Loans (3,000)
Net Cash flows from Financing Activities 3,000
Net Cash flows 8,200
Add: Beg. Cash Balance 10,500
Ending Cash Balance 18,700
Liabilities

Accounts Payable 15,400


Loans Payable 2,000
Total 17,400
Equity
Joni Capital 87,500
104,900
1
GINHAWA MASSAGE CLINIC
TRIAL BALANCE
Dec. 31, 200C

ACCOUNTS

Cash
Accounts Receivable
Notes Receivable
Tools
Furnitures and Fixtures
Office Equipment
Truck
Machinery
Accounts Payable
Notes Payable
Loans Payable
Mortgage Payable
Karen Capital
Karen Personal
Service Income
Tel and Tel
Postage and Stamps
Insurance Expense
Subscrtiption And Publication
Office Supplies Expense
Salaries Expense
Rent Income
Interest Income
Interest Expense

2
GINHAWA MASSAGE CLINIC
INCOME STATEMENT
Period Ended Dec. 31, 200C

Service Income
Less: Expenses
Tel. and Tel.
Postage and Stamps
Insurance Expense
Subscrtiption And Publication
Office Supplies Expense
Salaries Expense
Net Operating Profit
Add: Other Profit/Expense
Rent Income
Interest Income
Interest Expense

3
GINHAWA MASSAGE CLINIC
STATEMENT OF OWNER'S EQUITY
Period Ended Dec. 31, 200C

Beg. Capital
Add: Net Income
Total
Less:Drawings
Ending Capital

4
GINHAWA MASSAGE CLINIC
BALANCE SHEET
Dec. 31, 200C

ASSETS
Cash 18,540
Accounts Receivable 21,460
Notes Receivable 1,200
Tools 21,500
Furnitures and Fixtures 8,900
Office Equipment 12,000
Truck 84,700
Machinery 36,290
204,590
ASSAGE CLINIC
BALANCE
31, 200C

DEBIT CREDIT

18,540
21,460
1,200
21,500
8,900
12,000
84,700
36,290
16,600
8,000
20,000
30,000
85,000
10,000
78,560
1,250
50
4,100
160
3,150
21,000
6,000
360
220
244,520 244,520

ASSAGE CLINIC
STATEMENT
d Dec. 31, 200C

78,560

1,250
50
4,100
160
3,150
21,000 29,710
48,850

6,000
360
(220) 6,140
54,990

ASSAGE CLINIC
OWNER'S EQUITY
d Dec. 31, 200C

85,000
54,990
139,990
10,000
129,990

ASSAGE CLINIC
CE SHEET
31, 200C

LIABILITIES
Accounts Payable 16,600
Notes Payable 8,000
Loans Payable 20,000
Mortgage Payable 30,000
Total 74,600
EQUITY
Karen Capital 129,990

204,590
1&2
CASH 11
Date Item PR Debit Date Item PR Credit
July 1 22,000 July 2 7,500
4 5,600 3 5,500
8 3,900 5 3,600
16 20,000 7 900
21 9,000 9 800
27 10,050 10 600
18 2,000
23 600
25 950
29 7,500
31 500

OFFICE EQUIPMENT 13
Date Item PR Debit Date Item PR Credit
July 1 18,300
14 32,000

ACCOUNTS PAYABLE 21
Date Item PR Debit Date Item PR Credit
July 9 800 July 1 4,500
18 2,000 2 800
14 3,200

JM LUNA CAPITAL 31
Date Item PR Debit Date Item PR Credit
July 1 37,800
18 20,000

JM LUNA DRAWING 32
Date Item PR Debit Date Item PR Credit
July 1 4,800
5 3,600

3
JM LUNA ENTERPRISE
TRIAL BALANCE
July 31,

ACCOUNTS DEBIT CREDIT


Cash 40,100
Office Equipment 21,500
Accounts Payable 5,700
JM LUNA Capital 57,800
JM LUNA Drawing 8,400
Fees Earned 46,350
Salary Expense 18,000
Rent Expense 13,250
Communication Expense 2,150
Utilities Expense 2,900
Supplies Expense 1,350
Taxes and Licenses 1,200
Miscellaneous Expense 1,000
109,850 109,850
1
Date Particulars PR Debit
June 1 Rent Expense 52 6,000
Cash 11

3 Utilities Expense 11 7,500


Accounts Receivable 12

5 Utilities Expense 54 1,750


Cash 11

8 Accounts Receivable 12 8,500


Fees Earned 41

10 Communication Expense 53 1,050


Cash 11

12 Automobile 15 150,000
W. Dixon Capital 31

14 Salary Expense 51 4,500


Cash 11

17 Cash 11 8,500
Accounts Receivable 12

19 Accounts Receivable 12 15,000


Fees Earned 41

23 Accounts Payable 21 9,000


Cash 11

25 Supplies Expense 55 950


Cash 11

28 Miscellaneous Expense 56 650


Cash 11

30 W. Dixon Drawing 32 6,000


Cash 11

2
CASH
Date Items PR Debit Date
June 1 23,500 June 1
3 J-1 7,500 5
17 J-2 8,500 10
14
23
25
28

ACCOUNTS RECIEVABLE
Date Items PR Debit Date
June 1 17,500 June 3
8 J-1 8,500 17
19 J-2 15,000

OFFICE EQUIPMENT
Date Items PR Debit Date
June 1 27,500

AUTOMOBILE
Date Items PR Debit Date
June 12 J-I 150,000

ACCOUNTS PAYABLE
Date Items PR Debit Date
June 23 J-1 9,000 June 1

W. DIXON DRAWING
Date Items PR Debit Date
June 1 11,000
30 J-1 6,000

FEES EARNED
Date Items PR Debit Date
June 1

SALARY EXPENSE
Date Items PR Debit Date
June 1 9,000
14 J-1 4,500

RENT EXPENSE
Date Items PR Debit Date
June 1 18,000
2 J-1 6,000

COMMUNICATION EXPENSE
Date Items PR Debit Date
June 1 2,850
10 J-1 1,050

UTILITIES EXPENSE
Date Items PR Debit Date
June 1 2,250
5 J-1 1,750

SUPPLIES EXPENSE
Date Items PR Debit Date
June 1 1,250
25 J-1 950

MISCELLANEOUS EXPENSE
Date Items PR Debit Date
June 1 750
28 J-1 650

3
WILLIAM DIXON
TRIAL BALANCE
June 30, 20CY

ACCOUNTS DEBIT CREDIT


Cash 9,600
Accounts Receivable 25,000
Office Equipment 27,500
Automobile 150,000
Accounts Payable 9,500
W. Dixon Capital 2,021,000
W. Dixon Drawing 17,000
Fees Earned 66,500
Salary Expense 13,500
Rent Expense 24,000
Communication Expense 3,900
Utilities Expense 4,000
Supplies Expense 2,200
Miscellaneous Expense 1,400
Credit

6,000

7,500

1,750

8,500

1,050

150,000

4,500

8,500

15,000

9,000

950

650

6,000

11
Items PR Credit
J-1 6,000
J-1 1,750
J-1 1,050
J-1 4,500
J-1 9,000
J-1 950
J-1 650
6,000

12
Items PR Credit
J-1 7,500
J-2 8,500

13
Items PR Credit

15
Items PR Credit

21
Items PR Credit
18,500

32
Items PR Credit

41
Items PR Credit
43,000
8,500
15,000

51
Items PR Credit

52
Items PR Credit

53
Items PR Credit

54
Items PR Credit
55
Items PR Credit

56
Items PR Credit
2
Date Particulars PR Debit Credit
June 1 Cash 101 250,000
D. Chavez Capital 301 250,000

3 Rent Expense 503 5,000


Cash 101 5,000

5 Office Equipment 105 105,000


Accounts Payable 202 105,000

7 Service Vehicle 106 180,000


Cash 101 100,000
Notes Payable 201 80,000

9 Decorating Supplies 103 13,150


Cash 101 13,150

11 Cash 104 33,000


Service Income 401 33,000

13 Prepaid Insurance 104 1,800


Cash 101 1,800

15 Accounts Receivable 102 19,500


Service Income 401 19,500

17 Delivery Expense 502 2,900


Cash 101 2,900

19 Utilities Expense 504 2,450


Cash 101 2,450

21 Cash 101 12,000


Service Income 401 12,000

23 Miscellaneous Expense 301 1,950


Cash 101 1,950

25 Accounts Payable 202 30,000


Cash 101 30,000

28 D. Chavez Drawing 302 25,000


Cash 101 25,000

30 Salary Expense 501 19,000


Cash 101 19,000

1&3
CASH
Date Items PR Debit Date Items PR
June 1 J-1 250,000 June 3 J-1
11 J-1 33,000 7 J-1
21 J-1 12,000 9 J-1
13 J-1
17 J-1
19 J-1
23 J-1
25 J-2
28 J-2
30 J-2

ACCOUNTS RECEIVABLE
Date Items PR Debit Date Items PR
June 15 J-1 19,500

DECORATING SUPPLIES
Date Items PR Debit Date Items PR
June 9 J-1 13,150

PREPAID INSURANCE
Date Items PR Debit Date Items PR
June 13 J-1 18,000

OFFICE EQUIPMENT
Date Items PR Debit Date Items PR
June 5 J-1 105,000

SERVICE VEHICLE
Date Items PR Debit Date Items PR
June 7 J-1 180,000

NOTES PAYABLE
Date Items PR Debit Date Items PR
June 7 J-1

ACCOUNTS PAYABLE
Date Items PR Debit Date Items PR
June 25 J-2 30,000 June 5

D. CHAVEZ CAPITAL
Date Items PR Debit Date Items PR
June 1 J-1

D. CHAVEZ DRAWING
Date Items PR Debit Date Items PR
June 28 J-2 25,000

SERVICE INCOME
Date Items PR Debit Date Items PR
June 11 J-1
15 J-1
21 J-1

SALARY EXPENSE
Date Items PR Debit Date Items PR
June 30 J-2 19,000

DELIVERY EXPENSE
Date Items PR Debit Date Items PR
June 17 J-1 2,900

RENT EXPENSE
Date Items PR Debit Date Items PR
June 3 J-1 5,000

UTILITIES EXPENSE
Date Items PR Debit Date Items PR
June 19 J-1 2,450

MISCELLANEOUS EXPENSE
Date Items PR Debit Date Items PR
June 23 J-1 1,950

4
DC Modern Designs
TRIAL BALANCE
30-Jun-20

ACCOUNTS DEBIT CREDIT


Cash 93,750
Accounts Receivable 19,500
Decorating Supplies 13,150
Prepaid Insurance 1,800
Office Equipment 105,000
Service Vehicle 180,000
Notes Payable 80,000
Accounts Payable 75,000
D. Chavez Capital 250,000
D. Chavez Drawing 25,000
Service Income 64,500
Salary Expense 19,000
Delivery Expense 2,900
Rent Expense 5,000
Utilities Expense 2,450
Miscellaneous Expense 1,950
Totals 469,500 469,500
101
Credit
5,000
100,000
13,150
1,800
2,900
2,450
1,950
30,000
25,000
19,000

102
Credit

103
Credit

104
Credit

105
Credit

106
Credit

201
Credit
80,000

201
Credit
105,000

301
Credit
250,000

302
Credit

401
Credit
33,000
19,500
12,000

501
Credit

502
Credit

503
Credit

504
Credit

505
Credit
Date Particulars PR Debit Credit
April 1 Rent Expense 52 12,000
Cash 11 12,000

3 Cash 11 54,200
Accounts Receivable 41 54,200

5 Advertising Expense 53 3,000


Cash 11 3,000

9 Supplies Expense 55 1,200


Accounts Payable 23 1,200

12 Accounts Payable 23 7,650


Cash 11 7,650

15 Automobile Expense 54 1,750


Cash 11 1,750

18 Miscellaneous Expense 56 2,150


Cash 11 2,150

21 Accounts Receivable 12 92,400


Fees Earned 41 92,400

24 Automobile Expense 54 3,650


Cash 11 3,650

26 Salaries Expense 51 20,750


Cash 11 20,750

28 A. Parco Drawing 32 15,000


Cash 11 15,000

30 Notes Payable 21 10,000


Cash 11 10,000

2
CASH 11
Date Items PR Debit Date Items PR Credit
April 1 56,300 April 1 J-1 12,000
3 J-1 54,200 5 J-1 3,000
12 J-1 7,650
15 J-1 1,750
18 J-1 2,150
24 J-1 3,650
26 J-1 20,750
28 J-1 15,000
30 J-1 10,000

ACCOUNTS RECEIVABLE 12
Date Items PR Debit Date Items PR Credit
April 1 77,500
21 92,400

PREPAID INSURANCE 13
Date Items PR Debit Date Items PR Credit
April 1 9,600

AUTOMOBILE 16
Date Items PR Debit Date Items PR Credit
April 1 200,000

NOTES PAYABLE 21
Date Items PR Debit Date Items PR Credit
April 30 J-1 10,000 April 1 60,000

ACCOUNTS PAYABLE 23
Date Items PR Debit Date Items PR Credit
April 12 J-1 7,650 April 1 33,350
9 1,200

A. PARCO CAPITAL 31
Date Items PR Debit Date Items PR Credit
April 1 180,000

A. PARCO DRAWING 32
Date Items PR Debit Date Items PR Credit
April 1 20,000
28 J-1 15,000

FEES EARNED 41
Date Items PR Debit Date Items PR Credit
April 1 319,450
3 J-1 54,200
21 J-1 92,400

SALARY EXPENSE 51
Date Items PR Debit Date Items PR Credit
April 1 150,050
26 J-1 20,750

RENT EXPENSE 52
Date Items PR Debit Date Items PR Credit
April 1 36,000
√ J-1 12,000

ADVERTISING EXPENSE 53
Date Items PR Debit Date Items PR Credit
April 1 18,000
5 3,000

AUTOMOBILE EXPENSE 54
Date Items PR Debit Date Items PR Credit
April 1 12,650
15 1,750
24 3,650

SUPPLIES EXPENSE 55
Date Items PR Debit Date Items PR Credit
April 1 7,200
9 J-1 1,200

MISCELLANEOUS EXPENSE 56
Date Items PR Debit Date Items PR Credit
April 1 5,500
18 J-1 2,150

ANELO PARCO
TRIAL BALANCE
April 30, 20CY

ACCOUNTS DEBIT CREDIT


Cash 34,550
Accounts Receivable 115,700
Prepaid Insurance 9,600
Automobile 200,000
Notes Payable 50,000
Accounts Payable 26,900
A. Parco Capital 180,000
A. Parco Drawing 35,000
Fees Earned 411,850
Salary Expense 170,800
Rent Expense 48,000
Advertising Expense 21,000
Automobile Expense 18,050
Supplies Expense 8,400
Miscellaneous Expense 7,650
Total 668,750 668,750
1
SPEEDY TRUCKING COMPANY
TRIAL BALANCE
March 31, 200E

ACCOUNTS DEBIT CREDIT


Cash 9,270
Advances to Employees 180
Tools 10,750
Furniture and Fixture 14,450
Office Furniture 24,145
Truck 142,350
Loans Payable 8,300
Lucy Fer Capital 140,000
Lucy Fer Drawing 5,000
Service Income 72,700
Salary Expense 7,500
Gas and Oil 3,000
Supplies Expense 1,575
Taxes and Licenses 2,050
Miscellaneous Expense 105
Tel and Tel Expense 625
Total 221,000 221,000

2
SPEEDY TRUCKING COMPANY
STATEMENT OF OWNER'S EQUITY
Month Ended March 31,200E

Beg. Capital 140,000


Add: Net Income (72700-14855) 57,845
Total 197,845
Less:Drawings 5,000
Ending Capital 192,845

3
SPEEDY TRUCKING COMPANY
STATEMENT OF OWNER'S EQUITY
Month Ended March 31, 200E

OPERATING
Service Income 72,700
Salaries Expense (7,500)
Gas and Oil (3,000)
Supplies Expense (1,575)
Taxes and Licenses (2,050)
Miscellaneous Expense (105)
Tel and Tel Expense (625)
Net Cash flows from Investing Activities 57,845
INVESTING
Advances to Employees (180)
Tools (10,750)
Furniture and Fixture (14,450)
Office Furniture (24,145)
Truck (142,350)
Net Cash flows from Investing Activities (191,875)
FINANCING
Initial Investment 140,000
Loan 8,300
Drawing (5,000)
Net Cash flows from Financing Activities 143,300
Net Cash Flow (Ending Cash Flow) 9,270
1 Cash X
Capital X

2 Tel and Tel X


Cash X

3 Cash X
Loan Payable X

4 Furnitures and Fixtures X


Accounts Payable X

5 Drawing X
Cash X

6 Office Equipment X
Cash X

7 Ligth and Water X


Cash X

8 Accounts Payable X
Cash X

9 Cash X
Service Income X

10 Accounts Receivable X
Service Income X

11 Tools X
Accounts Payable X

12 Loans Payable X
Cash X

13 Land X
Cash X

14 Notes Receivable X
Service Income X

15 Office Supplies X
Accounts Payable X

16 Advertising Expense X
Cash X

17 Legal Fees X
Cash X

18 Subscription and Publication X


Cash X

19 Tel and Tel X


Cash X

20 Cash X
Notes Payable X

21 Postage and Stamps X


Cash X

22 Rent Expense X
Cash X

23 Delivery Truck X
Cash X

24 Ligth and Water X


Insurance Expense X
Cash X

25 Taxes and Licenses X


Cash X

26 Accounts Payable X
Notes Payable X

27 Notes Receivable X
Accounts Receivable X

28 Salaries Expense X
Cash X

29 Accounts Receivable X
Service Income X

30 Notes Payable X
Cash X

31 Cash X
Notes Receivable X

32 Drawing X
Tools X

33 Office Equipment X
Capital X
34 Cash X
Mortgage Payable X

35 Cash X
Service Income X

36 Cash X
Rental Income X

37 Interest Expense X
Cash X

38 Cash X
Interest Income X

39 Cash X
Miscellaneous Income X

40 Miscellaneous Expense X
Cash X

41 Office Supplies X
Accounts Payable X

42 Cash X
Land X

43 Office Equipment X
Accounts Payable X

44 Cash X
Capital X

45 Acconts Receivable X
Service Income X

46 Utilities Expense X
Cash X

47 Cash X
Accounts Receivable X

48 Accounts Payable X
Cash X

49 Salaries Expense X
Cash X

50 Insurance Expense X
Cash X
ASSETS LIABILITIES CAPITAL DRAWING INCOME
1 Accounts Receivable /
2 K. Capital /
3 K. Personal /
4 Cash /
5 Interest Collected /
6 Rent Paid
7 Advertising Paid
8 Interest Paid
9 Rent Collected /
10 Salaries
11 Supplies Used
12 Subscription and Publication
13 Mortgage Payable l
14 Taxes and Licenses
15 Notes Receivable /
16 Notes Payable /
17 Unused Supplies /
18 Postage and Stamps
19 Insurance Paid
20 Light and Water
21 Loan Payable /
22 Service Income /
23 Office Equipment /
24 Furniture and Fixture /
25 Professinal Fees Paid
26 Delivery Truck /
EXPENSE DEBIT CREDIT NOMINAL REAL
/ /
/ /
/ /
/ /
/ /
/ / /
/ / /
/ / /
/ /
/ / /
/ / /
/ / /
/ /
/ / /
/ /
/ /
/ /
/ / /
/ / /
/ / /
/ /
/ /
/ /
/ /
/ / /
/ /
CECILE HART
TRIAL BALANCE
July 31, 20CY

ACCOUNTS DEBIT CREDIT


Cash (140000-89000) 51,000
Accounts Receivable (120000-2000) 118,000
Office Equipment (309000-188000) 121,000
Office Furniture 16,500
Accounts Payable (173000-50000) 123,000
C. Hart Capital 160,000
C. Hart Drawing 41,000
Fees Earned 130,000
Salary Expense 44,000
Rent Expense 14,000
Communication Expense 1,000
Utilities Expense 3,250
Supplies Expense 1,950
Miscellaneous Expense 1,300
Total 413,000 413,000
a Cash 20,000
Robert Capital 20,000
Initial investment

b Cash 12,000
Service Income 12,000
Cash service rendered
c Cash 5,000
Accounts Receivable 5,000
Collection of accounts receivable

d Robert Drawing 2,500


Cash 2,500
Withdrawal of Robert

e Accounts Payable 9,000


Cash 9,000
Payment of which.

f Expenses 14,200
Cash 14,200
Expenses paid.

g Accounts Receivable 16,000


Service Income 16,000
Rendered service on accounts.

h Office Equipment 15,000


Accounts Payable 15,000
Purchase of office equipment on account.
DEBIT AMOUNT CREDIT AMOUNT
a Purchases (92%*180000) 165,600 Cash 165,600
b Purchases (90%*95%*17500) 14,963 Accounts Payable 14,963
c Purchases (97%*98%*99%*200000) 188,219 Accounts Payable 188,219
DEBIT AMOUNT CREDIT AMOUNT
a Accounts Receivable (94%220000) 206,800 Sales 206,800
b Cash (94%*90%*180500) 156,096 Sales 156,096
c Accounts Receivable (90%*96%*150000) 129,600 Sales 129,600
Who Should Shoulder Who Will Pay
a FOB Shipping Point-Freight Collect BUYER BUYER
b FOB Shipping Point-Freight Prepaid BUYER SELLER
c FOB Destination Point-Freight Collect SELLER BUYER
d FOB Destination Point-Freight Prepaid SELLER SELLER
Buyer (Manila Trading Co.)
a FOB Shipping Point-Freight Collect Purcahses 450,000
Freight-in 12,000
Accounts Payable 450,000
Cash 120,000

b FOB Shipping Point-Freight Prepaid Purcahses 450,000


Freight-in 12,000
Accounts Payable 462,000

c FOB Destination Point-Freight Collect Purcahses 450,000


Accounts Payable 438,000
Cash 120,000

d FOB Destination Point-Freight Prepaid Purcahses 450,000


Accounts Payable 450,000
Seller (Singapore Trading Co.)
Accounts Receivable 450,000
Sales 450,000

Accounts Receivable 462,000


Sales 450,000
Cash 12,000

Accounts Receivable 438,000


Freight-out 12,000
Sales 450,000

Accounts Receivable 450,000


Freight-out 12,000
Sales 450,000
Cash 12,000
a Jan. 1 Cash 96,000
Sales (80%*120000) 96,000

b Feb. 2 Accounts Receivable 142,500


Sales (95%*150000) 142,500

Feb. 28 Cash 142,500


Accounts Receivable 142,500

c Mar. 1 Accounts Receivable 256,500


Sales (90%*95%*300000) 256,500

Mar. 31 Cash 256,500


Accounts Receivable 256,500

d Apr. 12 Accounts Receivable 200,000


Sales 200,000

Apr. 22 Cash (98%*200000) 196,000


Sales Discount (2%*200000) 4,000
Accounts Receivable 200,000

e May 3 Accounts Receivable 350,000


Sales 350,000

May 18 Cash (99%*350000) 346,500


Sales Discount (1%*350000) 3,500
Accounts Receivable 350,000

f Jun 12 Accounts Receivable 125,000


Sales 125,000

Jul 2 Cash 125,000


Accounts Receivable 125,000

g Jul 4 Accounts Receivable 140,000


Sales 140,000

Aug. 5 Cash (98%*140000) 137,200


Sales Discount (2%*140000) 2,800
Accounts Receivable 140,000

h Aug. 7 Accounts Receivable 144,000


Sales (90%*160000) 144,000

Aug. 17 Cash (98%*144000) 141,120


Sales Discount (2%*144000) 2,880
Accounts Receivable 144,000
i Sep. 1 Accounts Receivable 180,000
Sales 180,000

Sep. 17 Cash 180,000


Accounts Receivable 180,000
March 2 Purchases (90%*18000) 16,200
Freight-in 1,200
Cash 17,400

3 Cash 1,500
Purchase Return & Allowances 1,500

6 Purchases 10,000
Freight-in 500
Accounts Payable 10,000
Cash 500

7 Accounts Payable 2,000


Purchase Return & Allowances 2,000

9 Accounts Payable 5,000


Cash 5,000

16 Accounts Payable 3,000


Cash 2,840
Purchase Discount (2%*8000) 160
Aug 3 Cash 43,700
Sales (92%*95%*50000) 43,700

Freight-out 4,000
Cash 4,000

6 Sales Return & Allowances 2,000


Cash 2,000

7 Acconts Receivable 35,000


Sales 35,000

8 Sales Return & Allowances 5,000


Accounts Receivable 5,000

11 Cash 10,000
Accounts Receivable 10,000

22 Cash 19,700
Sales Discount (1%*30000) 300
Accounts Receivable 20,000
July 1 Purchases 40,000
Freight-in 1,250
VAT INPUT 12%*41250) 4,950
Accounts Payable 46,200

10 Accounts Payable (MLA. SALES CO.) 46,200


Purchase Discount (2%*40000) 800
Cash 45,400

13 Purchases 25,000
VAT INPUT 12%*25000) 3,000
Accounts Payable (DAVAO W. CO.) 28,000

15 Accounts Payable (DAVAO W. CO.) 8,400


Purchase Return & Allowances 7,500
VAT INPUT 12%*7500) 900

18 Purchases 57,500
VAT INPUT 12%*57500) 6,900
Accounts Payable (BACOLOD TRADING CO.) 64,400

18 Freight-in 1,200
VAT INPUT 144
Cash 1,344

19 Purchases 37,500
VAT INPUT 12%*37500) 4,500
Accounts Payable (MERCURY SALES CO.) 42,000

22 Accounts Payable (DAVAO W. CO.) 19,600


Purchase Discount (1%*17500) 175
Cash 19,425

29 Accounts Payable (MERCURY SALES CO.) 42,000


Purchase Discount (2%*37500) 750
Cash 41,250

30 Accounts Payable 64,400


Cash 64,400
Aug 2 Acconts Receivable 3,360
VAT OUTPUT (12%*3000) 360
Sales (3360/112%) 3,000

3 Cash 9,800
VAT OUTPUT (12%*8750) 1,050
Sales (9800/112%) 8,750

5 Acconts Receivable (7280+672) 7,952


VAT OUTPUT (12%*6500) 780
Sales (7280/112%) 6,500
Cash 672

11 Cash 3,300
Sales Discount (2%*3000) 60
Accounts Receivable 3,360

13 Acconts Receivable (Josie) 11,760


VAT OUTPUT (12%*10500) 1,260
Sales (11760/112%) 10,500

14 Freight-out 448
Cash 448

Cash 7,822
Sales Discount (2%*6500) 130
Accounts Receivable 7,952

17 Sales Return & Allowances(1120/112%) 1,000


VAT OUTPUT (12%*1000) 120
Accounts Receivable 1,120

23 Acconts Receivable (5376+224) 5,600


VAT OUTPUT (12%*4800) 576
Sales (5376/112%) 4,800
Cash 224

24 Cash 5,000
Accounts receivable 5,000

Cash 5,640
Accounts receivable 5,640

30 Cash 5,504
Sales Discount 96
Accounts receivable 5,600
June 1 Purcahses (80%*35000) 28,000
Freight-in (1344/122%) 1,200
VAT INPUT (12%*29200) 3,504
Accounts Payable 32,704

3 Purcahses 17,500
VAT INPUT (12%*17500) 2,100
Accounts Payable 19600

5 Accounts Receivable 7,504


VAT OUTPUT (12%*6250) 750
Sales 6,250
Cash 504

7 Accounts Payable 1,680


VAT INPUT (12%*1500) 180
Purchase Return 1,500

9 Accounts Receivable 10,920


VAT OUTPUT (12%*9750) 1,170
Sales 9,750

/ Freight-out (616/112%) 550


VAT INPUT (12%*550) 66
Cash 616

11 Accounts Payable 32,704


Purchase Discount (1%*28000) 280
Cash 32,424

/ Sales Return 800


VAT OUTPUT (12%*800) 96
Accounts Receivable 896

/ Accounts Payable 17,620


Purchase Discount (2%*16000) 320
Cash 17,600

11 Accounts Receivable 7,896


VAT OUTPUT (12%*6550) 786
Sales 6,550
C ash 560

/ Cash 7,379
Sales Discount (2%*6250) 125
Accounts Receivable 7,504

17 Purcahses 27,500
VAT INPUT (12%*27500) 3,300
Accounts Payable 30,800

/ Freight-in (1175/122%) 1,050


VAT INPUT 126
Cash 1,176

18 Accounts Receivable 10,528


VAT OUTPUT 1,050
Sales 8,750
C ash 728

/ Cash 9,935
Sales Discount (1%*8950) 90
Accounts Receivable 10,024

19 Purcahses 11,400
VAT INPUT (12%*11400) 1,368
Accounts Payable 12,768

/ Cash 2,000
Accounts Receivable 2,000

20 Accounts Payable 1,568


Purchase Return 1,400
VAT INPUT (12%*1400) 168

25 Accounts Payable 10,000


C ash 10,000

/ Accounts Receivable 3,640


VAT OUTPUT (12%*3250) 390
Sales 3,250

26 Sales Return 350


VAT OUTPUT 42
Accounts Receivable 392

/ Accounts Payable 17,500


Cash 17,500

30 Cash 10,528
Accounts Receivable 10,528

/ Accounts Payable 11,200


Purchase Discount (2%*10000) 200
Cash 11,000
Dec 1 Cash 500,000
Nelson Capital 500,000

/ Furniture and Fixture 32,000


VAT INPUT (12%*32000) 3,840
Cash 35,840

/ Taxes and Licenses 3,250


Cash 3,250

/ Office Equipment (53760/112%) 48,000


VAT INPUT (12%*48000) 5,760
Accounts Payable 53,760

2 Rent Expense 4,500


VAT INPUT (12%*4500) 540
Cash 5,040

3 Purchases 36,500
VAT INPUT (12%*36500) 4,380
Accounts Payable 40,880

4 Purchases 13,440
VAT INPUT (12%*13440) 1,613
Cash 15,053

5 Freight-in 550
VAT INPUT (12%*550) 66
Cash 616

6 Cash (50%*94360) 47
Accounts Receivable 47
Sales 84

7 Freight-out (672/122%) 600


VAT INPUT (12%*600) 72
Cash 672

9 Accounts Receivable 56,448


Sales (90%*56000) 50,400
VAT OUTPUT (12%*50400) 6,048

10 Sales Return 15,000


VAT OUTPUT (12%*15000) 1,800
Accounts Receivable 16,800

11 Accounts Receivable 66,528


Sales (90%*66000) 59,400
VAT OUTPUT (12%*59400) 7,128
15 Cash 20,000
Accounts Receivable 20,000

16 Salaries Expense 32,500


Cash 32,500

/ Sales Return 6,000


VAT OUTPUT (12%*6000) 720
Accounts Receivable 6,720

17 Advertising Expense 14,000


VAT INPUT (12%*14000) 1,680
Cash 15,680

19 Cash 38,940
Sales Discount (2%*35400) 708
Accounts Receivable 39,648

20 Nelson Drawing 10,000


Cash 10,000

21 Cash 22,579
Sales 20,160
VAT OUTPUT 2,419

22 Purchases (90%*35000) 31,500


VAT INPUT (12%*31500) 3,780
Accounts Payable 35,280

23 Freight-in (3360/12%) 3,000


VAT INPUT (12%*3000) 360
Cash 3,360

24 Accounts Payable 15,000


Cash 15,000

25 Accounts Payable 5,600


Purchase Return 5,000
VAT INPUT (12%*5000) 600

30 Cash 3,360
Furniture and Fixture 3,000
VAT INPUT (12%*3000) 360

31 Sales Return 4,000


VAT OUTPUT (12%*4000) 480
Cash 4,480

Feb 1 Insurance 12,500


VAT INPUT (12%*12500) 1,500
Cash 14,000

2 Notes Receivable 11,200


Sales 10,000
VAT OUTPUT (12%*10000) 1,200

3 Cash 11,000
Interest Expense 800
Loan Payable 11,800

4 Purchases 8,960
VAT INPUT (12%*8960) 1,075
Notes Payable 10,035

5 Cash 11,200
Notes Receivable 11,200

6 Notes Payable 10,035


Cash 10,035

7 VAT Payable 12,250


Cash 12,250
1
LIWAYAWAY TRADING
TRIAL BALANCE
Dec. 31, 2007

ACCOUNTS DEBIT CREDIT


Cash 62,825
Notes Receivable 74,250
Accounts Receivable 171,100
Beg. Inventory 60,900
Furniture and Fixture 31,000
Office Equipment 14,000
Notes Payable 21,875
Accounts Payable 94,750
Ligaya Capital 265,000
Ligaya Drawing 9,500
Sales 572,875
Sales Return 11,000
Sales Discount 6,400
Purchases 390,750
Freight-in 5,415
Purchase Return 5,780
Purchase Discount 5,010
Salary Expense 99,550
Rent Expense 24,000
Insurance Expense 5,250
Advertising Expense 2,150
Office Supplies Expense 2,200
Rent Income 5,000
Total 970,290 970,290

2
LIWAYAWAY TRADING
INCOME STATEMENT
Year Ended Dec. 31, 2007

Sales 572,875
Less:Sales Return 11,000
Sales Discount 6,400 17,400
Net Sales 555,475
Less:Cost of Sales
Beg. Inventory 60,900
Purchases 390,750
Freight-in 5,415
Gross 396,165
Purchase Return (5,780)
Purchase Discount (5,010) 385,375
Goods Available for Sale 446,275
Less:Ending Inventory 70,000 376275
Gross Profit 179,200
Less:Expenses
Salary Expense 99,550
Rent Expense 24,000
Insurance Expense 5,250
Advertising Expense 2,150
Office Supplies Expense 2,200 133,150
Net Profit from Operation 46,050
Add:Rent Income 5,000
Net Profit 51,050

3
LIWAYAWAY TRADING
BALANCE SHEET
Dec. 31, 2007

ASSETS LIABILITIES
Cash 62,825 Notes Payable
Notes Receivable 74,250 Accounts Payable
Accounts Receivable 171,100 Total
Inventory 70,000 OWNER'S EQUITY
Furniture and Fixture 31,000 Beg. Capital
Office Equipment 14,000 Add:Net Profit
Total
Less:Drawing
423,175
LIABILITIES
21,875
94,750
116,625
WNER'S EQUITY
265,000
51,050
316,050
9,500 306,550
423,175
JOHN COMPANY
INCOME STATEMENT
Year Ended Dec. 31, 200F

Sales 320,000
Less:Sales Return 5,000
Sales Discount 2,600 7,600
Net Sales 312,400
Less:Cost of Sales
Beg. Inventory 48,000
Purchases 118,000
Freight-in 7,400
Gross 125,400
Purchase Return (32,000) 93,400
Goods Available for Sale 141,400
Less:Ending Inventory 22,000 119,400
Gross Profit 193,000
Less:Expenses
Miscellaneous Expense 48,000
Freight-out 10,500
Utilities Expense 48,700
Rent Expense 122,000 229,200
Net Profit (36,200)
a b c d e
Sales 172,300 3.) 292,000 345,000 250,000 240,000
Cost of Sales 1.) 87,700 142,000 282,000 8.) 90,000 120,000
Gross Profit 84,600 150,000 5.) 63,000 7.) 160,000 10.) 120,000
Operating Expenses 2.) 51,600 108,000 6.) 76,000 130,000 9.) 150,000
Net Profit 33,000 4.) 42,000 (13,000) 30,000 (30,000)