NICA’S Meat Selling Enterprise

October - December 2017

Daily Log of Activities
FIRST CYCLE

Date Activity Problems Action Lessons Persons

Encountered Taken Learned Involved
Oct. 29 Invested Php200.00 as starting capital to No capital Used None Ms.
the business. allowance Paguican

Oct. 29 Traveled from Musuan to Valencia City None None None Ms.
and vice versa for the purchase of Paguican
supplies. Paid Php20.00

Oct. 29 Purchased office supplies composed None None None Ms.

record notebook, journal notebook, ledger Paguican
notebooks, receipt, ballpen, and carbon
worth Php127.00.

Oct 29 Purchased marketing supplies composed None None None Ms.

of plastic tiny bags and blade worth Paguican
Php48.00.

Oct. 30 Canvassed for the stocks to be procured None None None Labor
and meat buyers.

Oct. 31 Invested additional Php11, 500.00 to the No capital Borrowed None Ms.
business for the procurement of stocks. money to Paguican
mother

Nov. 1 Purchased on cash 127 kgs of stock at None None None Ms.
Php90.00 per kg worth Php11, 430.00. Paguican
and labor

Nov. 1 Slaughtered stock. None None None Ms.

Paguican
and labor

Nov. 1 Recorded cash and accounts receivables None None None Ms.
as sale of the product. Paguican

Nov. 1 Recorded cash worth Php11, 439.00 as None None None Ms.
sale on the product. Paguican

Nov. 1 Recorded accounts receivable worth None None None Ms.

Php6, 225.50 as sale on the product. Paguican

Nov. 1 Utilized marketing supplies worth None None None Ms.

Php38.00. Paguican
and labor

Nov. 1 Consumed stocks worth Php11, 430.00. None None None Buyers

Nov. 1 Purchased marketing supplies with the None None None Ms.
same component worth Php 25.00. Paguican
 Date Activity Problems Action Lessons Persons
Encountered Taken Learned Involved
Nov. 1 Purchased on cash 79 kgs of stock at None None None Ms.
Php95.00 per kg worth Php7, 505.00 to Paguican
cater the need of the buyers. and labor

Nov. 1 Slaughtered stock. None None None Ms.

Paguican
and labor

Nov. 1 Recorded additional cash and accounts None None None Ms.
receivable as sales on the product. Paguican

Nov. 1 Recorded cash worth Php5, 255.00 as None None None Ms.
sale on the product. Paguican

Nov. 1 Utilized marketing supplies worth None None None Ms.

Php20.00 Paguican
and labor

Nov. 1 Consumed stocks worth Php7, 505.00. None None None Buyers

Nov. 1 Recorded the payment of Php1, 890.00 None None None Ms.
for labor. Paguican

Nov. 1 Recorded the payment of Php50.00 for None None None Ms.
transportation. Paguican

Nov. 11 Recorded the received cash on accounts None None None Ms.
receivable worth Php4, 811.00 dated Paguican
Nov. 01.

Nov. 13 Canvassed for the stocks to be procured None None None Labor
and meat buyers.

Nov. 15 Purchased marketing supplies with the None None None Ms.
same component worth Php35.00. Paguican

Nov. 15 Purchased on cash 56 kgs of stock at None None None Ms.

Php95.00 per kg worth Php5, 320.00. Paguican
and labor

Nov. 15 Slaughtered stock. None None None Ms.

Paguican
and labor

Nov. 15 Recorded cash and accounts receivables None None None Ms.
as sale on the product. Paguican

Nov. 15 Recorded cash worth Php2, 973.00 as None None None Ms.
sale on the product. Paguican

Nov. 15 Recorded accounts receivable worth None None None Ms.

Php4, 468.50 as sale on the product. Paguican
 Date Activity Problems Action Lessons Persons
Encountered Taken Learned Involved
Nov. 15 Utilized marketing supplies worth None None None Ms.
Php35.00. Paguican
and labor

Nov. 15 Consumed stocks worth Php5, 320.00. None None None Buyers

Nov. 15 Recorded the payment of Php630.00 for None None None Ms.
labor. Paguican

Nov. 17 Canvassed for the stocks to be procured None None None Ms.
and meat buyers. Paguican
and labor

Nov. 18 Purchased marketing supplies with the None None None Ms.
same component worth Php60.00. Paguican

Nov. 18 Purchased 103 kgs of stock at Php90.00 None None None Ms.
per kg worth Php9, 270.00. Paying Paguican
PhpPhp7, 000.00 on cash and the and labor
remaining as an account payable.

Nov. 18 Slaughtered stock. None None None Ms.

Paguican
and labor

Nov. 18 Recorded cash and accounts receivables None None None Ms.
as sale on the product. Paguican

Nov. 18 Recorded cash worth Php2, 620.00 as None None None Ms.
sale on the product. Paguican

Nov. 18 Recorded accounts receivable worth None None None Ms.

Php9, 910.50 as sale on the product. Paguican

Nov. 18 Utilized marketing supplies worth None None None Ms.

Php55.00. Paguican
and labor

Nov. 18 Consumed stocks worth Php9, 270.00. None None None Buyers

Nov. 18 Recorded the received cash on accounts None None None Ms.
receivable worth Php5, 879.00 dated Nov. Paguican
01.

Nov. 18 Recorded the payment of Php900.00 for None None None Ms.
labor. Paguican

Nov. 18 Recorded the payment of Php100.00 for None None None Ms.
transportation. Paguican

Nov. 25 Recorded the received cash on accounts None None None Ms.
receivable worth Php9, 439.00 dated Nov. Paguican
15.
 Date Activity Problems Action Lessons Persons
Encountered Taken Learned Involved
Nov. 25 Recorded the payment of Php2, 270.00 on None None None Ms.
the accounts payable dated Nov. 15. Paguican

Nov. 30 Canvassed for the stocks to be procured None None None Ms.
and meat buyers. Paguican
and labor

Dec. 2 Purchased marketing supplies with the None None None Ms.
same component worth Php40.00. Paguican

Dec. 2 Purchased on cash 81 kgs of stock at None None None Ms.

Php95.00 per kg worth Php7, 290.00. Paguican
and labor

Dec. 2 Slaughtered stock. None None None Ms.

Paguican
and labor

Dec. 2 Recorded cash and accounts receivables None None None Ms.
as sale on the product. Paguican

Dec. 2 Recorded cash worth Php6, 207.00 as None None None Ms.
sale on the product. Paguican

Dec. 2 Recorded accounts receivable worth None None None Ms.

Php4, 346.0 as sale on the product. Paguican

Dec. 2 Utilized marketing supplies worth None None None Ms.

Php37.00. Paguican
and labor

Dec. 2 Consumed stocks worth Php7, 290.00. None None None Buyers

Dec. 2 Recorded the payment of Php810.00 for None None None Ms.
labor. Paguican

Dec. 2 Recorded the payment of Php50.00 for None None None Ms.
transportation. Paguican

Dec. 6 Recorded the received cash on accounts None None None Ms.
receivable worth Php4, 940.00 dated Nov. Paguican
18.

Dec. 10 Recorded the received cash on accounts None None None Ms.
receivable worth Php4, 3460.00 dated Paguican
Dec. 02.

Dec. 12 Recorded the payment of Php225.00 for None None None Ms.
the utilities composed of electricity and Paguican
water consumption.
 Date Activity Problems Action Lessons Persons
Encountered Taken Learned Involved
Dec. 12 Recorded the payment of Php1, 000.00 to None None None Ms.
the manager. Paguican

Dec. 12 Consumed office supplies worth None None None Ms.

Php100.00 Paguican
 NICA’S Meat Selling Enterprise
October - December 2017
Financial Transactions
FIRST CYCLE

Date Financial Transaction Amount Remarks

(Php)
Oct. 29 Invested Php200.00 as starting capital to the business. 200.00

Oct. 29 Paid transportation expense worth Php20.00 on cash. 20.00 ER#001

Oct. 29 Purchased office supplies worth Php127.00 on cash. 127.00 ER#002

Oct. 29 Purchased marketing supplies worth Php48.00 on cash. 48.00 ER#003

Oct. 31 Invested additional capital worth Php11, 500.00 to the business. 11,500.00

Nov. 1 Purchased stock worth Php11, 430.00 on cash. 11,430.00 ER#004

Nov. 1 Received cash worth Php11, 439.00 as sale on the product. 11,439.00 ER#101

Nov. 1 Recorded accounts receivable worth Php6, 225.50 as sale on the

product. 6,226.00

Nov. 1 Marketing supplies was used. 38.00

Nov. 1 Slaughtered stocks were sold. 11,430.00

Nov. 1 Purchased marketing supplies worth Php25.00 on cash. 25.00 ER#005

Nov. 1 Purchased stock worth Php7, 505.00 on cash. 7,505.00 ER#006

Nov. 1 Received cash worth Php5, 255.00 as sale on the product. 5,255.00 ER#102

Nov. 1 Recorded accounts receivable worth Php4, 464.00 as sale on the

product. 4,464.00

Nov. 1 Marketing supplies was used. 20.00

Nov. 1 Slaughtered stocks were sold. 7,505.00

Nov. 1 Paid labor expense worth Php1, 890.00 on cash. 1, 890.00 ER#007

Nov. 1 Paid transportation expense worth Php50.00 on cash. 50.00 ER#008

Nov. 11 Received cash from accounts receivable worth Php4, 810.15. 4,811.00 ER#103

Nov. 15 Purchased marketing supplies worth Php35.00 on cash. 35.00 ER#009

Nov. 15 Purchased stocks worth Php5, 320.00 on cash. 5,320.00 ER#010

Nov. 15 Received cash worth Php2, 973.00 as sale on the product. 2,973.00 ER#104

Nov. 15 Recorded accounts receivable worth Php4, 468.50 as sale on the

product. 4,469.00
 Date Financial Transaction Amount Remarks
(Php)
Nov. 15 Marketing supplies was used. 35.00

Nov. 15 Slaughtered stocks were sold. 5,320.00

Nov. 15 Paid labor expense worth Php630.00 on cash. 630.00 ER#011

Nov. 18 Purchased marketing supplies worth Php60.00 on cash. 60.00 ER#012

Nov. 18 Purchased stock worth Php9, 270.00. Paid in cash worth Php7, 000.00
and remained Php2, 270.00 as accounts payable. 9,270.00 ER#013

Nov. 18 Received cash worth Php2, 620.00 as sale on the product. 2,620.00 ER#105

Nov. 18 Recorded accounts receivable worth Ph9, 910.50 as sale on the

product. 9,911.00

Nov. 18 Marketing supplies was used. 55.00

Nov. 18 Slaughtered stocks were sold. 9,270.00

Nov. 18 Received cash on accounts receivable worth Php5, 879.35. 5,879.00 ER#106

Nov. 18 Paid labor expense worth Php900.00 on cash. 900.00 ER#014

Nov. 18 Paid transportation expense worth Php100.00 on cash. 100.00 ER#015

Nov. 25 Received cash on accounts receivable worth Php9, 439.00. 9,439.00 ER#107

Nov. 25 Paid accounts payable in cash worth Php2, 270.00. 2,270.00 ER#016

Dec. 2 Purchased marketing supplies worth Php40.00 on cash. 40.00 ER#017

Dec. 2 Purchased stock worth Php7, 290.00 on cash. 7,290.00 ER#018

Dec. 2 Received cash worth Php6, 207.00 as sale on the product. 6,207.00 ER#108

Dec. 2 Recorded accounts receivable worth Php4, 346.00 as sale on the

product. 4,346.00

Dec. 2 Marketing supplies was used. 37.00

Dec. 2 Slaughtered stocks were sold. 7,290.00

Dec. 2 Paid labor expense worth Php810.00 on cash. 810.00 ER#019

Dec. 2 Paid transportation expense worth Php50.00 on cash. 50.00 ER#020

Dec. 6 Received cash on accounts receivable worth Php4, 940.00. 4,940.00 ER#109

Dec. 10 Received cash on accounts receivable worth Php4, 346.00. 4,346.00 ER#110

Dec. 12 Paid utilities expense worth Php225.00 on cash. 225.00 ER#021

Dec. 12 Paid labor expense worth Php500.00 on cash. 500.00 ER#022

 Date Financial Transaction Amount Remarks
(Php)
Dec. 12 Paid management fee worth Php1, 000.00 on cash. 1, 000.00 ER#023

Dec. 12 Consumed office supplies. 100.00

 NICA’S Meat Selling Enterprise
October- December 2017
CHART OF ACCOUNTS
First Cycle

Normal
Number Account Title Definition of Account
Balance
10 Cash Debit Any medium of exchange for procurement of products.

11 Accounts Receivable Debit Includes sales on the product on account.

12 Stocks Debit Include procurement of stocks.

13 Office Supplies Inventory Debit Includes procurement of office supplies.

14 Marketing Supplies Debit Includes the procurement of marketing supplies.

Inventory

20 Accounts Payable Credit Includes all purchases on account.

30 Paguican’s, Capital Credit Includes the original and additional investment to the
business.

40 Retained Earnings Debit Includes earnings from previous operation.

50 Sales Credit Revenue earned in selling the product.

60 Stocks Expense Debit Includes stocks that are utilized.

61 Labor Expense Debit Includes payment for labor for slaughtering the stocks.

62 Office Supplies Expense Debit Includes office supplies that are utilized.

63 Marketing Supplies Debit Includes marketing supplies that are utilized.

Expense

64 Transportation Expense Debit Transactions pertaining to travels in purchasing supplies

and stocks.

65 Utilities Expense Debit Includes utilities like electricity and water consumption.

66 Management Fee Debit Payment for the manager for the service.
 NICA’S Meat Selling Enterprise
GENERAL JOURNAL
FIRST CYCLE

J1
Date Transaction PR DR CR
1 Oct. ‘17 1
2 29 Cash 10 2 0 0 00 2
3 Paguican’s Capital 30 2 0 0 00 3
4 To record investment in the business. 4
5 5
6 29 Transportation Expense 64 2 0 00 6
7 Cash 10 2 0 00 7
8 To record payment for transportation. 8
9 9
10 29 Office Supplies Inventory 13 1 2 7 00 10
11 Cash 10 1 2 7 00 11
12 To record purchased of supplies on cash. 12
13 13
14 29 Marketing Supplies Inventory 14 4 8 00 14
15 Cash 10 4 8 00 15
16 To record purchased of supplies on cash. 16
17 17
18 31 Cash 10 1 1 5 0 0 00 18
19 Paguican’s Capital 30 1 1 5 0 0 00 19
20 To record additional investment. 20
21 Nov. 21
22 1 Stocks 12 1 1 4 3 0 00 22
23 Cash 10 1 1 4 3 0 00 23
24 To record purchased of stocks on cash. 24
25 25
26 1 Cash 10 1 1 4 3 9 00 26
27 Sales 50 1 1 4 3 9 00 27
28 To record sales on cash. 28
29 29
30 1 Accounts Receivables 11 6 2 2 6 00 30
31 Sales 50 6 2 2 6 00 31
32 To record sales on account. 32
33 33
34 1 Marketing Supplies Expense 63 3 8 00 34
35 Marketing Supplies Inventory 14 3 8 00 35
36 To record used marketing supply. 36
37 37
38 1 Stocks Expense 60 1 1 4 3 0 00 38
39 Stocks 12 1 1 4 3 0 00 39
40 To record consumed stocks. 40
41 41
42 1 Marketing Supplies Inventory 14 2 5 00 42
43 Cash 10 2 5 00 43
44 To record purchased of additional stocks. 44
45 45
46 1 Stocks 12 7 5 0 5 00 46
47 Cash 10 7 5 0 5 00 47
48 To record purchased of supplies. 48
 J2
Date Transaction PR DR CR
1 Nov. ‘17 1
2 1 Cash 10 5 2 5 5 00 2
3 Sales 50 5 2 5 5 00 3
4 To record sales on cash. 4
5 5
6 1 Accounts Receivables 11 4 4 6 4 00 6
7 Sales 50 4 4 6 4 00 7
8 To record sales on account. 8
9 9
10 1 Marketing Supplies Expense 63 20 00 10
11 Marketing Supplies Inventory 14 2 0 00 11
12 To record used marketing supply. 12
13 13
14 1 Stocks Expense 60 7 5 0 5 00 14
15 Stocks 12 7 5 0 5 00 15
16 To record consumed stocks. 16
17 17
18 1 Labor Expense 61 1 8 9 0 00 18
19 Cash 10 1 8 9 0 00 19
20 To record payment for labor. 20
21 21
22 1 Transportation Expense 64 5 0 00 22
23 Cash 10 5 0 00 23
24 To record payment for transportation. 24
25 25
26 11 Cash 10 4 8 1 1 00 26
27 Accounts Receivable 11 4 8 1 1 00 27
28 To record received cash from account. 28
29 29
30 15 Marketing Supplies Inventory 14 3 5 00 30
31 Cash 10 3 5 00 31
32 To record purchased of supplies. 32
33 33
34 15 Stocks 12 5 3 2 0 00 34
35 Cash 10 5 3 2 0 00 35
36 To record purchased of stocks. 36
37 37
38 15 Cash 10 2 9 7 3 00 38
39 Sales 50 2 9 7 3 00 39
40 To record sales on cash. 40
41 41
42 15 Accounts Receivables 11 4 4 6 9 00 42
43 Sales 50 4 4 6 9 00 43
44 To record sales on account. 44
45 45
46 15 Marketing Supplies Expense 63 3 5 00 46
47 Marketing Supplies Inventory 14 3 5 00 47
48 To record used supply. 48
49 49
50 15 Stocks Expense 60 5 3 2 0 00 50
51 Stocks 12 5 3 2 0 00 51
52 To record consumed stocks. 52
 J3
Date Transaction DR CR
1 Nov. ‘17 1
2 15 Labor Expense 61 6 3 0 00 2
3 Cash 10 6 3 0 00 3
4 To record payment for labor. 4
5 5
6 18 Marketing Supplies Inventory 14 6 0 00 6
7 Cash 10 6 0 00 7
8 To record purchased of supplies. 8
9 9
10 18 Stocks 12 9 2 7 0 00 10
11 Cash 10 7 0 0 0 00 11
12 Accounts Payable 20 2 2 7 0 00 12
To record purchased of stocks on cash
13 13
and on account.
14 14
15 18 Cash 10 2 6 2 0 00 15
16 Sales 50 2 6 2 0 00 16
17 To record sales on cash. 17
18 18
19 18 Accounts Receivable 11 9 9 1 1 00 19
20 Sales 50 9 9 1 1 00 20
21 To record sales on account. 21
22 22
23 18 Marketing Supplies Expense 63 5 5 00 23
24 Marketing Supplies Inventory 14 5 5 00 24
25 To record used supply. 25
26 26
27 18 Stocks Expense 60 9 2 7 0 00 27
28 Stocks 12 9 2 7 0 00 28
29 To record consumed stocks. 29
30 30
31 18 Cash 10 5 8 7 9 00 31
32 Account Receivable 11 5 8 7 9 00 32
33 To record received cash from account. 33
34 34
35 18 Labor Expense 61 9 0 0 00 35
36 Cash 10 9 0 0 00 36
37 To record payment for labor. 37
38 38
39 18 Transportation Expense 64 1 0 0 00 39
40 Cash 10 1 0 0 00 40
41 To record payment for transportation. 41
42 42
43 25 Cash 10 9 4 3 9 00 43
44 Accounts Receivables 11 9 4 3 9 00 44
45 To record received cash from account. 45
46 46
47 25 Accounts Payable 20 2 2 7 0 00 47
48 Cash 10 2 2 7 0 00 48
49 To record payment of stocks on account. 49
50 Dec. 50
51 2 Marketing Supplies Inventory 14 4 0 00 51
52 Cash 10 4 0 00 52
53 To record purchase of supplies. 53
 J4
Date Transaction PR DR CR
1 Dec. ‘17 1
2 2 Stocks 12 7 2 9 0 00 2
3 Cash 10 7 2 9 0 00 3
4 To record purchase of stocks on cash. 4
5 5
6 2 Cash 10 6 2 0 7 00 6
7 Sales 50 6 2 0 7 00 7
8 To record sales on cash. 8
9 9
10 2 Accounts Receivable 11 4 3 4 6 00 10
11 Sales 50 4 3 4 6 00 11
12 To record sales on account. 12
13 13
14 2 Marketing Supplies Expense 63 3 7 00 14
15 Marketing Supplies Inventory 14 3 7 00 15
16 To record used supply. 16
17 17
18 2 Stocks Expense 60 7 2 9 0 00 18
19 Stocks 12 7 2 9 0 00 19
20 To record consumed stocks. 20
21 21
22 2 Labor Expense 63 8 1 0 00 22
23 Cash 10 8 1 0 00 23
24 To record payment for labor. 24
25 25
26 2 Transportation Expense 60 5 0 00 26
27 Cash 10 5 0 00 27
28 To record payment for transportation. 28
29 29
30 6 Cash 10 4 9 4 0 00 30
31 Account Receivable 11 31
32 To record received cash from account. 4 9 4 0 00 32
33 33
34 10 Cash 10 4 3 4 6 00 34
35 Account Receivable 11 4 3 4 6 00 35
36 To record received cash from account. 36
37 37
38 12 Utilities Expense 65 2 2 5 00 38
39 Cash 10 2 2 5 00 39
40 To record payment for utilities. 40
41 41
42 12 Labor Expense 61 5 0 0 00 42
43 Cash 10 5 0 0 00 43
44 To record payment for labor. 44
45 45
46 12 Management Fee 66 1 0 0 0 00 46
47 Cash 10 1 0 0 0 00 47
48 To record payment for the manager. 48
49 49
50 12 Office Supplies Expense 62 1 0 0 00 50
51 Office Supplies Inventory 13 1 0 0 00 51
52 To record used of supply. 52
 NICA’S Meat Selling Enterprise
GENERAL LEDGER
First Cycle

Account Title: Cash No: 10

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Oct 29 Cash Capital J1 2 0 0 00 Oct 29 Transportation J1 2 0 00

Expense
31 Cash Capital J1 1 1 5 0 0 00 29 Office J1 1 2 7 00

Supplies
Nov 1 Sales J1 1 1 4 3 9 00 29 Marketing J1 4 8 00

Supplies
1 Sales J2 5 2 5 5 00 Nov 1 Stocks J1 1 1 4 3 0 00

11 Sales J2 4 8 1 1 00 1 Marketing J1 2 5 00

Supplies
15 Sales J2 2 9 7 3 00 1 Stocks J1 7 5 0 5 00

18 Sales J3 2 6 2 0 00 1 Labor J2 1 8 9 0 00

Expense
18 Sales J3 5 8 7 9 00 1 Transportation J2 5 0 00

Expense
25 Sales J3 9 4 3 9 00 15 Marketing J2 3 5 00

Supplies
Dec 2 Sales J4 6 2 0 7 00 15 Stocks J2 5 3 2 0 00

6 Sales J4 4 9 4 0 00 15 Labor J3 6 3 0 00

Expense
10 Sales J4 4 3 4 6 00 18 Marketing J3 6 0 00

Supplies
6 9 6 1 0 00 18 Stocks J3 7 0 0 0 00

2 2 2 8 5 00 18 Labor J3 9 0 0 00

Expense
18 Transportation J3 1 0 0 00

Expense
25 Stocks J3 2 2 7 0 00

Dec 2 Marketing J3 4 0 00

Supplies
2 Stocks J4 7 2 9 0 00

2 Labor J4 8 1 0 00

Expense
2 Transportation J4 5 0 00

Expense
12 Utilities j4 2 2 5 00

Expense
12 Labor J4 5 0 0 00

Expense
12 Managerial J4 1 0 0 0 00

Fee
4 7 3 2 5 00
Account Title: Accounts Receivable No: 11
DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Sales J1 6 2 2 6 00 Nov 11 Cash J2 4 8 1 2 00

1 Sales J2 4 4 6 4 00 18 Cash J3 5 8 7 9 00

15 Sales J2 4 4 6 9 00 25 Cash J3 9 4 3 9 00

18 Sales J3 9 9 1 1 00 Dec 6 Cash J4 4 9 4 0 00

Dec 2 Sales J4 4 3 4 6 00 10 Cash J4 4 3 4 6 00

2 9 4 1 6 00 2 9 4 1 6 00

Account Title: Stocks No: 12

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Purchases J1 1 1 4 3 0 00 Nov 1 Consumed J1 1 1 4 3 0 00

1 Purchases J1 7 5 0 5 00 1 Consumed J2 7 5 0 5 00

15 Purchases J2 5 3 2 0 00 15 Consumed J2 5 3 2 0 00

18 Purchases J2 9 2 7 0 00 18 Consumed J3 9 2 7 0 00

Dec 2 Purchases J3 7 2 9 0 00 Dec 2 Consumed J4 7 2 9 0 00

4 0 8 1 5 00 4 0 8 1 5 00

Account Title: Office Supplies Inventory No: 13

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Oct 29 Purchases J1 1 2 7 00 Dec 12 Consumed J4 1 0 0 00

1 2 7 00 TOTAL 1 0 0 00

2 7 00

Account Title: Marketing Supplies Inventory No: 14

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Oct 29 Purchases J1 4 8 00 Nov 1 Used J1 3 8 00

Nov 1 Purchases J1 2 5 00 1 Used J2 2 0 00

15 Purchases J2 3 5 00 15 Used J2 3 5 00

18 Purchases J3 6 0 00 18 Used J3 5 5 00

Dec 2 Purchases J3 4 0 00 Dec 2 Used J4 3 7 00

2 0 8 00 1 8 5 00

2 3 00

Account Title: Accounts Payable No: 20

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 15 Purchases J1 2 2 7 0 00 Nov 18 Cash J3 2 2 7 0 00

2 2 7 0 00

0
 Account Title: Paguican’s Capital No: 30
DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Oct 29 Investment J1 2 0 0 00

31 Investment 1 1 5 0 0 00

1 1 7 0 0 00

Account Title: Sales No: 50

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Cash J1 1 1 4 3 9 00

1 Accounts J1 6 2 2 6 00

Receivable
1 Cash J2 5 2 5 5 00

1 Accounts J2 4 4 6 4 00

Receivable
15 Cash J2 2 9 7 3 00

15 Accounts J2 4 4 6 9 00

Receivable
18 Cash J3 2 6 2 0 00

18 Accounts J3 9 9 1 1 00

Receivable
Dec 2 Cash J4 6 2 0 7 00

2 Accounts J4 4 3 4 6 00

Receivable
5 7 9 1 0 00

Account Title: Stocks Expense No: 60

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Stocks J1 1 1 4 3 0 00

1 Stocks J1 7 5 0 5 00

15 Stocks J2 5 3 2 0 00

18 Stocks J3 9 2 7 0 00

Dec 2 Stocks J4 7 2 9 0 00

4 0 8 1 5 00

Account Title: Labor Expense No: 61

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Cash J2 1 8 9 0 00

15 Cash J3 6 3 0 00

18 Cash J3 9 0 0 00

Dec 2 Cash J4 8 1 0 00

12 Cash J4 5 0 0 00

4 7 3 0 00
Account Title: Office Supplies Expense No: 62
DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Dec 12 Consumed J4 1 0 0 00

Account Title: Marketing Supplies Expense No: 63

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Nov 1 Used J1 3 8 00

1 Used J2 2 0 00

15 Used J2 3 5 00

18 Used J3 5 5 00

Dec 2 Used J4 3 7 00

1 8 5 00

Account Title: Transportation Expense No: 64

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Oct 29 Travel J1 2 0 00

1 Travel J2 5 0 00

15 Travel J3 1 0 0 00

18 Travel J4 5 0 00

2 2 0 00

Account Title: Utilities Expense No: 65

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Dec 12 Consumed J4 2 2 5 00

Account Title: Management Fee No: 66

DATE PARTICULAR PR Dr DATE PARTICULAR PR Cr
Dec 12 Cash J4 1 0 0 0 00
 NICA’S Meat Selling Enterprise
TRIAL BALANCE
For the period October 29- December 12, 2017
First Cycle

ITEMS DR CR
Cash 22,285.00
Accounts Receivable 0
Stocks 0
Office Supplies 27.00
Marketing Supplies 23.00
Accounts Payable 0
Paguican’s Capital 11,700.00
Sales 57,910.00
Stocks Expense 40,815.00
Labor Expense 4,730.00
Office Supplies Expense 100.00
Marketing Supplies Expense 185.00
Transportation Expense 220.00
Utilities Expense 225.00
Management Fee 1,000.00
TOTAL 69,610.00 69,610.00
 Exhibit 1.
NICA’S Meat Selling Enterprise
Comparative Income Statement
For the Period of October- December 2017
Particulars First Cycle Second Cycle
Plan Actual % Diff Plan Actual % Diff
Sales 58,500.00 57,910.00 (0.01) 62,100.00 67,514.00 (0.09)
Total Sales 58,500.00 57,910.00 (0.01) 62,100.00 67,514.00 (0.09)
Less: Production Cost
Stocks Expense 45,125.00 40,815.00 (0.10) 47,500.00 43,870.00 (0.08)
Labor Expense 2,500.00 4,730.00 0.89 2,500.00 4,588.00 0.84
Total Production Cost 47,625.00 45,545.00 (0.04) 50,000.00 48,458.00 (0.03)
Gross Profit 10,875.00 12,365.00 0.14 12,100.00 19,056.00 0.57
Less: Operating Cost &
Expenses
Office Supplies Expense 448.00 100.00 (0.78) - 57.00 -
Marketing Supplies 125.00 185.00 0.48 125.00 218.00 0.74
Expense
Transportation Expense 100.00 220.00 1.20 100.00 270.00 1.7
Utilities Expense 200.00 225.00 0.13 200.00 225.00 0.13
Total Operating Cost & 873.00 730.00 (0.16) 425.00 770.00 0.45
Expenses
Net Profit from 10,002.00 11,635.00 0.16 11,675.00 18,286.00 0.57
Operation
Less: Administrative
Cost
Management Fee 500.00 1,000.00 1.00 500.00 1,000.00 1.00
Total Administrative 500.00 1,000.00 1.00 500.00 1,000.00 1.00
Cost
Net Profit Before Tax 9,502.00 10,635.00 0.12 11,175.00 17,286.00 0.55
Net Profit 9,502.00 10,635.00 0.12 11,175.00 17,286.00 0.55
 Exhibit 2.
NICA’S Meat Selling Enterprise
Comparative Cash Flow Statement
For the Period of October- December 2017
Particulars First Cycle Second Cycle
Plan Actual % Diff Plan Actual % Diff
Cash Inflow
Net Cash Sales 58,500.00 57,910.00 (0.01) 62,100.00 67,514.00 0.09
Paguican’s Capital 10,500.00 11,700.00 0.11 0 0 -
Total Cash Inflow 69,000.00 69,610.00 0.009 62,100.00 67,514.00 0.09
Cash Outflow
Stocks Expense 45,125.00 40,815.00 (0.10) 47,500.00 43,870.00 (0.08)
Labor Expense 2,500.00 4,730.00 0.89 2,500.00 4,588.00 0.84
Office Supplies Expense 448.00 127.00 (0.72) 0 30.00 -
Marketing Supplies 125.00 208.00 0.66 125.00 195.00 0.56
Expense
Transportation Expense 100.00 220.00 1.20 100.00 270.00 1.7
Utilities Expense 200.00 225.00 0.13 200.00 225.00 0.13
Management Fee 500.00 1,000.00 1.00 500.00 1,000.00 1
Total Cash Outflow 48,998.00 47,325.00 (0.03) 50,925.00 50,178.00 (0.015)
Net Cash Flow 20,002.00 22,285.00 0.11 11,175.00 17,336.00 0.00013
Add: Beg. Cash Balance - - - 20,002.00 22,285.00 0.11
Ending Cash Balance 20,002.00 22,285.00 0.11 31,177.00 39,621.00 0.27
 Exhibit 3.
NICA’S Meat Selling Enterprise
Comparative Balance Sheet Statement
For the Period of October- December 2017
Particulars First Cycle Second Cycle
Plan Actual % Diff Plan Actual % Diff
Assets
Cash 20,002.00 22,285.00 0.11 31,177.00 39,621.00 0.27
Accounts Receivable 0 0 0 0 -
Office Supplies Inventory 0 27 0 0 -
Marketing Supplies Inventory 0 23 0 0 -
Total Assets 20,002.00 22,335.00 0.11 31,177.00 39,621.00 0.27
Liabilities & Owner’s Equity
Liabilities
Accounts Payable 0 0 - 0 0 -
Total Liabilities 0 0 - 0 0 -
Owner’s Equity
Paguican’s Capital 10,500.00 11,700.00 0.11 10,500.00 11,700.00 0.11
Retained Earnings 0 0 - 9,502.00 10,635.00 0.12
Add: Net Income 9,502.00 10,635.00 0.12 11,175.00 17,286.00 0.55
Retained Earnings 20,677.00 27,921.00 0.35
Total Owner’s Equity 20,002.00 22,335.00 0.12 31,177.00 39,621.00 0.27
Total Liabilities & Owner’s 20,002.00 22,335.00 0.12 31,177.00 39,621.00 0.27
Equity