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Quilla, Shainalou R.

CS32 TTH(12:00-1:30)
Quilla, Shainalou R.
CS32 TTh(12:00-1:30)

Cotabato Bookstore
Unadjusted Trial Balance
March 30, 2004

Account Titles Debit

Cash on Hand PHP 150,000.00


Petty Cash Fund 1,000.00
Accounts Receivable 30,000.00
Allowance for Bad Debts
Merchandise Inventory 90,000.00
Furniture & Equipment 120,000.00
Accumulated Depreciation
Accounts Payable
VAT Payable
Eva Dunlao, Capital
Eva Dunlao, Drawing 5,000.00
Sales
Sales Returns & Allowances 2,000.00
Purchases 585,000.00
Freight In 1,000.00
Purchase Returns & Allowances
Salaries Expense 10,050.00
Rental Expense 25,000.00
Insurance Expense 7,950.00
TOTAL PHP 1,027,000.00
okstore
al Balance
2004

Credit

PHP 1,000.00

10,000.00
15,000.00
12,000.00
228,000.00

760,000.00

1,000.00

PHP 1,027,000.00
Quilla, Shainalou R.
CS32 TTh(12:00-1:30)

Account Titles Trial Balance


Debit
Cash on Hand PHP 150,000.00
Petty Cash Fund 1,000.00
Accounts Receivable 30,000.00
Allowance for Bad Debts
Merchandise Inventory, beginning 90,000.00
Furniture & Equipment 120,000.00
Accumulated Depreciation
Accounts Payable
VAT Payable
Eva Dunlao, Capital
Eva Dunlao, Drawing 5,000.00
Sales
Sales Returns & Allowances 2,000.00
Purchases 585,000.00
Freight In 1,000.00
Purchase Returns & Allowances
Salaries Expense 10,050.00
Rental Expense 25,000.00
Insurance Expense 7,950.00
TOTAL PHP 1,027,000.00
Adjustments
Merchandise Inventory, ending
Uncollectible Accounts
Depreciation Expense
Prepaid Insurance
Prepaid Rent
Accrued Salaries & Wages
Cotabato Bookstore
Worksheet
March 30, 2004
Trial Balance Adjustments Income Statement
Credit Debit Credit Debit

PHP 1,000.00 PHP 7,600.00


PHP 90,000.00

10,000.00 8,500.00
15,000.00
12,000.00
228,000.00

760,000.00
2,000.00
585,000.00
1,000.00
1,000.00
PHP 5,500.00 15,550.00
5,000.00 20,000.00
950.00 7,000.00
PHP 1,027,000.00

7,600.00 7,600.00
8,500.00 8,500.00
950.00
5,000.00
5,500.00
PHP 27,550.00 PHP 27,550.00 PHP 736,650.00
PHP 84,350.00
PHP 821,000.00
Income Statement Balance Sheet
Credit Debit Credit
PHP 150,000.00
1,000.00
30,000.00
PHP 8,600.00

120,000.00
18,500.00
15,000.00
12,000.00
228,000.00
5,000.00
PHP 760,000.00

1,000.00

60,000.00 60,000.00

950.00
5,000.00
5,500.00
PHP 821,000.00 PHP 371,950.00 PHP 287,600.00
PHP 84,350.00
PHP 821,000.00 PHP 371,950.00 PHP 371,950.00
Quilla, Shainalou R.
CS32 TTh(12:00-1:30)
Cotabato Bookstore
Income Statement
March 30, 2004

Sales
Sales Returns & Allowances
Net Sales
Cost of Goods Sold:
Merchandise Inventory, beginning PHP 90,000.00
Purchases PHP 585,000.00
Freight In 1,000.00
Gross Purchases PHP 584,000.00
Purchase Returns & Allowances 1,000.00 PHP 585,000.00
Cost of Goods Available for Sale 675,000.00
Merchandise Inventory, ending 60,000.00
Cost of Goods Sold
Gross Profit
Operating Expenses:
Salaries Expense 15,550.00
Rental Expense 20,000.00
Insurance Expense 7,000.00
Uncollectible Account 7,600.00
Depreciation Expense 8,500.00
Net Profit
kstore
ement
2004

PHP 760,000.00
2,000.00
PHP 758,000.00

PHP 90,000.00

PHP 585,000.00
675,000.00
60,000.00
615,000.00
PHP 143,000.00

15,550.00
20,000.00
7,000.00
7,600.00
8,500.00 58,650.00
PHP 84,350.00
Quilla, Shainalou R.
CS32 TTh(12:00-1:30)

Co

ASSETS
Current Assets:
Cash on Hand
Petty Cash Fund
Accounts Receivable PHP 30,000.00
Allowance for Bad Debts PHP 8,600.00
Prepaid Insurance
Prepaid Rent
Merchandise Inventory, ending
Total Current Assets
Non-Current Assets:
Furniture & Equipment PHP 120,000.00
Accumulated Depreciation PHP 18,500.00
Total Non-Current Assets

TOTAL ASSETS
Cotabato Bookstore
Balance Sheet

LIABILITIES
Current Liabilities:
PHP 150,000.00 Accounts Payable
PHP 1,000.00 VAT Payable
Accrued Salaries & Wages
PHP 21,400.00 Total Current Liabilities
PHP 950.00
PHP 5,000.00 OWNER'S EQUITY
PHP 60,000.00 Eva Dunlao, Capital
PHP 238,350.00 Total Owner's Equity

PHP 101,500.00
PHP 101,500.00

PHP 339,850.00 TOTAL LIABILITIES & OWNER'S EQUITY


PHP 15,000.00
PHP 12,000.00
PHP 5,500.00
PHP 32,500.00

PHP 307,350.00
PHP 307,350.00

PHP 339,850.00
Quilla, Shainalou R.
CS32 TTh(12:00-1:30)
Cotabato Bookstore
Statement of Changes in Equity
March 30, 2004

Eva Dunlao, Capital, beginning PHP 228,000.00


Net Income for the Period 84,350.00
Total 312,350.00
Eva Dunlao, Drawing 5,000.00
Eva Dunlao, Capital, ending PHP 307,350.00
uity

228,000.00
84,350.00
312,350.00
5,000.00
307,350.00