KASHATO SHIRTS

Chart of Accounts

No. Account
100 Cash
101 Petty Cash
110 Notes Receivable
111 Interest Receivable
112 Accounts Receivable
113 Allowance for Uncollectible Accounts
120 Merchandise Inventory
130 Supplies
140 Prepaid Insurance
141 Prepaid Rent
150 Furniture and Fixtures
151 Accumulated Depreciation - Furniture and Fixtures
152 Equipments
153 Accumulated Depreciation - Equipments
154 Service Vehicle
155 Accumulated Depreciation - Service Vehicle
160 Rent Deposit
161 Utilities Deposit
200 Notes Payable
201 Interest Payable
202 Accounts Payable
210 Salaries Payable
211 SSS & EC Contributions Payable
212 PhilHealth Contributions Payable
213 Pag-IBIG Contributions Payable
214 Withholding Tax Payable
220 Rent Payable
221 Utilities Payable
230 Value-Added Tax Payable
230-1 Input Tax
230-2 Output Tax
240 Vouchers Payable
300 Therese Ballada, Capital
301 Therese Ballada, Withdrawals
302 Income Summary
400 Sales
401 Sales Discounts
405 Sales Returns and Allowances
410 Interest Income
500 Purchases
501 Transportation In
502 Purchases Discounts
503 Purchases Returns and Allowances
600 Advertising Expense
601 Supplies Expense
602 Insurance Expense
603 Rent Expense
604 Utilities Expense
605 Repair and Maintenance
610 Salaries Expense
611 SSS & EC Contributions Expense
612 PhilHealth Contributions Expense
613 Pag-IBIG Contributions Expense
620 Uncollectible Accounts Expense
630 Depreciation Expense - Furniture and Fixtures
631 Depreciation Expense - Equipments
632 Depreciation Expense - Service Vehicle
640 Miscellaneous Expense
650 Interest Expense
 KASHATO SHIRTS
Post-Closing Trial Balance
September 30, 2015

No. Account Title

100 Cash
101 Petty Cash
110 Notes Receivable
111 Interest Receivable
112 Accounts Receivable
113 Allowance for Uncollectible Accounts
120 Merchandise Inventory
130 Supplies
140 Prepaid Insurance
141 Prepaid Rent
150 Furniture and Fixtures
151 Accumulated Depreciation - Furniture and Fixtures
152 Equipments
153 Accumulated Depreciation - Equipments
154 Service Vehicle
155 Accumulated Depreciation - Service Vehicle
160 Rent Deposit
161 Utilities Deposit
200 Notes Payable
201 Interest Payable
240 Vouchers Payable
300 Therese Ballada, Capital
 RTS
Balance
2015

Debit Credit
271,571.20
16,000.00
240,000.00
2,400.00
313,600.00
9,408.00
871,200.00
14,500.00
12,750.00
150,000.00
650,000.00
74,250.00
735,000.00
134,500.00
410,000.00
33,000.00
150,000.00
18,500.00
500,000.00
16,166.67
532,801.48
2,555,395.05
3,855,521.20 3,855,521.20
 KASHATO SHIRTS
Sales Journal

Date S.I. No Customer

1-Oct 254 Cardenas Marketing

4-Oct 255 Del Mundo Shirts Station
12-Oct 256 Modesto Bargain House
16-Oct 257 Selisana Garments
19-Oct 258 Marasigan Enterprises
29-Oct 259 Modesto Bargain House
31-Oct 260 Feliciano Outfitters
TOTALS
KASHATO SHIRTS
Sales Journal

Accounts Receivable Sales Output Tax

(Dr) (Cr) (Cr)
56,000.00 50,000.00 6,000.00
22,400.00 20,000.00 2,400.00
53,760.00 48,000.00 5,760.00
100,800.00 90,000.00 10,800.00
64,960.00 58,000.00 6,960.00
89,600.00 80,000.00 9,600.00
76,160.00 68,000.00 8,160.00
463,680.00 414,000.00 49,680.00
 KASHATO SHIR
Cash Receipts Jou

Output
Cash
Date O.R. No. Particular Tax
(Dr) (Dr)
1-Oct 232 Del Mundo Shirts Station 87,808.00 192.00
5-Oct 233 Selisana Garments 43,904.00 96.00
8-Oct Cash Sales 418,432.00
8-Oct 234 Modesto Bargain House 26,342.40 57.60
8-Oct 235 Calamba Commercial 11,200.00
12-Oct 236 Marasigan Enterprises 78,400.00
15-Oct Cash Sales 344,960.00
19-Oct 237 Cardenas Marketing 17,920.00
22-Oct Cash Sales 328,720.00
22-Oct 238 Modesto Bargain House 52,684.80 115.20
24-Oct 239 Matuguinas Sales 244,000.00
26-Oct 240 Selisana Garments 98,784.00 216.00
30-Oct 241 Cardenas Marketing 56,000.00
31-Oct Cash Sales 567,952.00
31-Oct 242 Marasigan Enterprises 64,960.00
TOTALS 2,442,067.20 676.80
 KASHATO SHIRTS
Cash Receipts Journal

Sales Accounts Notes Interest Interest Output

Discounts Receivable Receivable Receivable Income Tax
(Dr) (Cr) (Cr) (Cr) (Cr) (Cr)
1,600.00 89,600.00
800.00 44,800.00
44,832.00
480.00 26,880.00
11,200.00
78,400.00
36,960.00
17,920.00
35,220.00
960.00 53,760.00
240,000.00 2,400.00 1,600.00
1,800.00 100,800.00
56,000.00
60,852.00
64,960.00
5,640.00 544,320.00 240,000.00 2,400.00 1,600.00 177,864.00
 Sales

(Cr)

373,600.00

308,000.00

293,500.00

507,100.00

1,482,200.00
 Voucher Date
No. Date Payee Terms Paid Check No.

205 2-Oct Blanche Mftg. Co. 2/15, n/60 cancelled #209

206 2-Oct Tria Forwarders 2-Oct 081191
207 4-Oct Salvador Services 4-Oct 081193
208 5-Oct Manalo Shirt Factory n/30
209 5-Oct Blanche Mftg. Co. 2/15, n/60 17-Oct 081203
210 12-Oct Medina Office Systems n/30 cancelled #214
211 15-Oct Payroll 15-Oct 081199
212 15-Oct Geron Merchandising COD 15-Oct 081200
213 16-Oct Bisana Marketing 2/10, n/30 26-Oct 081210
214 17-Oct Medina Office Systems n/30
215 18-Oct Andam Repairs 18-Oct 081204
216 20-Oct Camiseria Palaganas n/30
217 22-Oct Galang Freight Services 22-Oct 081205
218 23-Oct Doña Deogracia Development Bank 120-day, 12% 23-Oct 081206
219 23-Oct Gamba Supplies COD 23-Oct 081207
220 24-Oct Burgos Shirts 1/15, n/60
221 26-Oct Blanche Mftg. Co. 2/15, n/60
222 29-Oct Therese Ballada 29-Oct 081211
223 29-Oct Winston Apalisoc 29-Oct 081212
224 30-Oct Meralco 30-Oct 081213
225 30-Oct Mabuhay Philippines Telephone Co. 30-Oct 081214
226 30-Oct People's Journal 30-Oct 081215
227 31-Oct Payroll 31-Oct 081216
228 31-Oct SSS
229 31-Oct Philhealth
230 31-Oct Pag-IBIG
231 31-Oct BIR
232 31-Oct Therese Ballada 31-Oct 081217
TOTAL
233 31-Oct BIR -VAT

TOTALS
 Transportation Salaries
Purchases Supplies Rep & Main Fur & Fix
In Expense
(Dr) (Dr) (Dr) (Dr) (Dr) (Dr)
160,000.00
1,000.00
2,400.00
20,400.00

36,000.00
116,500.00
6,000.00
120,000.00

5,000.00
100,000.00
3,000.00

6,340.00
100,000.00
184,000.00

4,850.00

116,500.00

684,400.00 4,000.00 17,190.00 7,400.00 36,000.00 233,000.00

684,400.00 4,000.00 17,190.00 7,400.00 36,000.00 233,000.00

 KASHATO SHIRTS
Voucher Register

Miscellaneous Utilities Advertising SSS and EC Philhealth Pag-IBIG

Expense Expense Expense Cont. Expense Cont. Expense Cont. Expense
(Dr) (Dr) (Dr) (Dr) (Dr) (Dr)

700.00
15,000.00
7,300.00
8,000.00

10,563.60
2,928.75
900.00

700.00 22,300.00 8,000.00 10,563.60 2,928.75 900.00

700.00 22,300.00 8,000.00 10,563.60 2,928.75 900.00

KASHATO SHIRTS
Voucher Register

SSS and EC Philhealth Pag-IBIG Withholding Notes Interest

Cont. Payable Cont. Payable Cont. Payable Tax Payable Payable Payable
(Dr) (Dr) (Dr) (Dr) (Dr) (Dr)

500,000.00 16,166.67

5,086.40
2,928.75
900.00
14,170.98

5,086.40 2,928.75 900.00 14,170.98 500,000.00 16,166.67

5,086.40 2,928.75 900.00 14,170.98 500,000.00 16,166.67

Interest Therese Ballada Vouchers Vouchers
Input Tax Output Tax
Expense Withdrawal Payable Payable
(Dr) (Dr) (Dr) (Dr) (Dr) (Cr)
19,200.00 179,200.00 179,200.00
120.00 1,120.00
288.00 2,688.00
2,448.00 22,848.00
168,000.00
4,320.00 40,320.00 40,320.00
104,956.94
720.00 6,720.00
14,400.00 134,400.00
29,120.00
600.00 5,600.00
12,000.00 112,000.00
360.00 3,360.00
3,833.33 520,000.00
760.80 7,100.80
12,000.00 112,000.00
22,080.00 206,080.00
160,000.00 160,000.00
666.00 6,216.00
1,800.00 16,800.00
876.00 8,176.00
960.00 8,960.00
104,956.94
15,650.00
5,857.50
1,800.00
14,170.98
45,000.00 45,000.00
3,833.33 205,000.00 93,598.80 - 219,520.00 2,043,101.15
226,387.20 136,436.40

3,833.33 205,000.00 93,598.80 226,387.20 219,520.00 2,179,537.55

 Purchase SSS and EC Philhealth Pag-IBIG Withholding
Fur. & Fix.
Ret. & Allow. Cont. Payable Cont. Payable Cont. Payable Tax Payable
(Cr) (Cr) (Cr) (Cr) (Cr) (Cr)

10,000.00

2,543.20 1,464.38 450.00 7,085.49

10,000.00

2,543.20 1,464.38 450.00 7,085.49

10,000.00 10,000.00 5,086.40 2,928.75 900.00 14,170.98

10,000.00 10,000.00 5,086.40 2,928.75 900.00 14,170.98

Input Tax

(Cr)

1,200.00

1,200.00

89,950.80

89,950.80
 KASHATO SHIRTS
Check Register

Check
Payee Voucher No.
No. Date
081191 2-Oct Tria Forwarders 206
081192 3-Oct Camiseria Palaganas 193
081193 4-Oct Salvador Services 207
081194 9-Oct Bisana Marketing 198
081195 10-Oct SSS 200
081196 10-Oct BIR 201
081197 11-Oct Philhealth 202
081198 13-Oct Mones Trading 199
081199 15-Oct Payroll 211
081200 15-Oct Geron Merchandising 212
081201 15-Oct Burgos Shirts 197
081202 15-Oct Pag-IBIG 203
081203 17-Oct Blanche Manufacturing Company 209
081204 18-Oct Andam Repairs 215
081205 22-Oct Galang Freight Services 217
081206 23-Oct Doña Deogracia Development Bank 218
081207 23-Oct Gamba Supplies 219
081208 24-Oct Victorina Wears 195
081209 25-Oct BIR 204
081210 26-Oct Bisana Marketing 213
081211 29-Oct Therese Ballada 222
081212 29-Oct Petty Cash Fund 223
081213 30-Oct Meralco 224
081214 30-Oct Mabuhay Philippines Telephone Co. 225
081215 30-Oct People's Journal 226
081216 31-Oct Payroll 227
081217 31-Oct Therese Ballada 232
TOTAL
KASHATO SHIRTS
Check Register

Vouchers Payable Purchases Discount Input Tax Cash

(Dr) (Cr) (Cr) (Cr)
1,120.00 1,120.00
26,880.00 26,880.00
2,688.00 2,688.00
224,000.00 4,000.00 480.00 219,520.00
15,650.00 15,650.00
14,170.98 14,170.98
5,857.50 5,857.50
112,000.00 1,000.00 120.00 110,880.00
104,956.94 104,956.94
6,720.00 6,720.00
44,800.00 44,800.00
1,800.00 1,800.00
168,000.00 3,000.00 360.00 164,640.00
5,600.00 5,600.00
3,360.00 3,360.00
520,000.00 520,000.00
7,100.80 7,100.80
24,640.00 24,640.00
63,003.00 63,003.00
134,400.00 2,400.00 288.00 131,712.00
160,000.00 160,000.00
6,216.00 6,216.00
16,800.00 16,800.00
8,176.00 8,176.00
8,960.00 8,960.00
104,956.94 104,956.94
45,000.00 45,000.00
1,836,856.15 10,400.00 1,248.00 1,825,208.15
 KASHATO SHIRTS
General Journal

Date No.

4-Oct 405
230-2
112

19-Oct 110
112

31-Oct 113
112

Adjusting Entries

31-Oct 111
410

31-Oct 620
113

31-Oct 601
130

31-Oct 602
140

31-Oct 603
141

31-Oct 630
151

31-Oct 631
153

31-Oct 632
155
31-Oct 100
112

31-Oct 120
120

Closing Entries

400
502
503
120
410
302
401
405
120
500
501
600
601
602
603
604
605
610
611
612
613
620
630
631
632
640
650

302
300

300
301
 KASHATO SHIRTS
General Journal

Account Title Debit

Sales Returns and Allowances 4,000.00

#N/A 480.00
Accounts Receivable

Notes Receivable 33,600.00

Accounts Receivable

Allowance for Uncollectible Accounts 6,720.00

Accounts Receivable

Adjusting Entries

Interest Receivable 134.40

Interest Income

Uncollectible Accounts Expense 4,771.20

Allowance for Uncollectible Accounts

Supplies Expense 22,190.00

Supplies

Insurance Expense 2,750.00

Prepaid Insurance

Rent Expense 50,000.00

Prepaid Rent

Depreciation Expense - Furniture and Fixtures 7,605.00

Accumulated Depreciation - Furniture and Fixtures

Depreciation Expense - Equipments 12,250.00

Accumulated Depreciation - Equipments

Depreciation Expense - Service Vehicle 5,500.00

Accumulated Depreciation - Service Vehicle
Cash 22,400.00
Accounts Receivable

Merchandise Inventory 700,360.00

Merchandise Inventory

Closing Entries

Sales 1,896,200.00
Purchases Discounts 10,400.00
Purchases Returns and Allowances 10,000.00
Merchandise Inventory, end 700,360.00
Interest Income 1,734.40
Income Summary
Sales Discounts
Sales Returns and Allowances
Merchandise Inventory, beg
Purchases
Transportation In
Advertising Expense
Supplies Expense
Insurance Expense
Rent Expense
Utilities Expense
Repair and Maintenance
Salaries Expense
SSS & EC Contributions Expense
PhilHealth Contributions Expense
Pag-IBIG Contributions Expense
Uncollectible Accounts Expense
Depreciation Expense - Furniture and Fixtures
Depreciation Expense - Equipments
Depreciation Expense - Service Vehicle
Miscellaneous Expense
Interest Expense

Income Summary 654,762.52

Therese Ballada, Capital

Therese Ballada, Capital 205,000.00

Therese Ballada, Withdrawals
Credit

4,480.00

33,600.00

6,720.00

134.40

4,771.20

22,190.00

2,750.00

50,000.00

7,605.00

12,250.00

5,500.00
 22,400.00

700,360.00

2,618,694.40 4,582,626.28
654,762.52
5,640.00 4,582,626.28
4,000.00
871,200.00
684,400.00
4,000.00
8,000.00
22,190.00
2,750.00
50,000.00
22,300.00
7,400.00
233,000.00
10,563.60
2,928.75
900.00
4,771.20
7,605.00
12,250.00
5,500.00
700.00 1,963,931.88
3,833.33 2,618,694.40

654,762.52
205,000.00
Cash 100 Sales
Date Debit Credit Balance Date Debit
30-Sep 271,571.20 271,571.20 31-Oct
31-Oct 2,442,067.20 2,713,638.40 31-Oct
31-Oct 1,825,208.15 888,430.25 31-Oct 1,896,200.00
31-Oct 22,400.00 910,830.25
Totals 1,896,200.00
Totals 2,736,038.40 1,825,208.15 910,830.25

Sales Discounts
Petty Cash 101 Date Debit
Date Debit Credit Balance 31-Oct 5,640.00
30-Sep 16,000.00 16,000.00 31-Oct
31-Oct 6,216.00 9,784.00
31-Oct 6,216.00 16,000.00 Totals 5,640.00

Totals 22,216.00 6,216.00 16,000.00

Sales Returns and Allowances

Date Debit
Notes Receivable 110 31-Oct 4,000.00
Date Debit Credit Balance 31-Oct
30-Sep 240,000.00 240,000.00
31-Oct 240,000.00 - Totals 4,000.00
31-Oct 33,600.00 33,600.00

Totals 273,600.00 240,000.00 33,600.00

Interest Income
Date Debit
30-Sep
Interest Receivable 111 31-Oct
Date Debit Credit Balance 31-Oct 1,734.40
30-Sep 2,400.00 2,400.00
31-Oct 2,400.00 - Totals 1,734.40
31-Oct 134.40 134.40

Totals 2,534.40 2,400.00 134.40

Purchases
Date Debit
31-Oct 684,400.00
Accounts Receivable 112 31-Oct
 Date Debit Credit Balance
30-Sep 313,600.00 313,600.00 Totals 684,400.00
31-Oct 463,680.00 777,280.00
31-Oct 544,320.00 232,960.00
31-Oct 4,480.00 228,480.00
31-Oct 33,600.00 194,880.00 Transportation In
6,720.00 188,160.00 Date Debit
22,400.00 165,760.00 31-Oct 4,000.00
31-Oct
Totals 777,280.00 611,520.00 165,760.00
Totals 4,000.00

Allowance for Uncollectible Accounts 113

Date Debit Credit Balance Purchases Discounts
30-Sep 9,408.00 9,408.00 Date Debit
31-Oct 6,720.00 2,688.00 31-Oct
4,771.20 7,459.20 31-Oct 10,400.00

Totals 6,720.00 14,179.20 7,459.20 Totals 10,400.00

Merchandise Inventory 120 Purchases Returns and Allowances

Date Debit Credit Balance Date Debit
30-Sep 871,200.00 871,200.00 31-Oct
31-Oct 871,200.00 - 31-Oct 10,000.00
31-Oct 700,360.00 700,360.00
Totals 10,000.00
Totals 1,571,560.00 871,200.00 700,360.00

Advertising Expense
Supplies 130 Date Debit
Date Debit Credit Balance 31-Oct 8,000.00
30-Sep 14,500.00 14,500.00 31-Oct
31-Oct 17,190.00 31,690.00
31-Oct 22,190.00 9,500.00 Totals 8,000.00

Totals 31,690.00 22,190.00 9,500.00

Supplies Expense
Prepaid Insurance 140 Date Debit
Date Debit Credit Balance 31-Oct 22,190.00
30-Sep 12,750.00 12,750.00 31-Oct
31-Oct 2,750.00 10,000.00
Totals 22,190.00
Totals 12,750.00 2,750.00 10,000.00
 Insurance Expense
Prepaid Rent 141 Date Debit
Date Debit Credit Balance 31-Oct 2,750.00
30-Sep 150,000.00 150,000.00 31-Oct
31-Oct 50,000.00 100,000.00
Totals 2,750.00
Totals 150,000.00 50,000.00 100,000.00

Rent Expense
Furniture and Fixtures 150 Date Debit
Date Debit Credit Balance 31-Oct 50,000.00
30-Sep 650,000.00 650,000.00 31-Oct
12-Oct 36,000.00 686,000.00
31-Oct 10,000.00 676,000.00 Totals 50,000.00

Totals 686,000.00 10,000.00 676,000.00

Utilities Expense
Date Debit
Accumulated Depreciation - Furniture and Fixtures 151 31-Oct 22,300.00
Date Debit Credit Balance 31-Oct
30-Sep 74,250.00 74,250.00
31-Oct 7,605.00 81,855.00 Totals 22,300.00

Totals - 81,855.00 81,855.00

 400 PhilHealth Contributions Payable
Credit Balance Date Debit Credit
414,000.00 414,000.00 31-Oct 2,928.75
1,482,200.00 1,896,200.00 31-Oct 2,928.75
- 31-Oct 5,857.50

1,896,200.00 - Totals 2,928.75 8,786.25

401 Pag-IBIG Contributions Payable

Credit Balance Date Debit Credit
5,640.00 31-Oct 900.00
5,640.00 - 31-Oct 900.00
31-Oct 1,800.00
5,640.00 -
Totals 900.00 2,700.00

405
Credit Balance Withholding Tax Payable
4,000.00 Date Debit Credit
4,000.00 - 31-Oct 14,170.98
31-Oct 14,170.98
4,000.00 - 31-Oct 14,170.98

Totals 14,170.98 28,341.96

410
Credit Balance
1,600.00 1,600.00 Rent Payable
134.40 1,734.40 Date Debit Credit
- 31-Oct

1,734.40 -
Totals - -

500
Credit Balance Utilities Payable
684,400.00 Date Debit Credit
684,400.00 - 31-Oct
 684,400.00 - Totals - -

501 Value-Added Tax Payable

Credit Balance Date Debit Credit
4,000.00 31-Oct 136,436.40
4,000.00 -
Totals - 136,436.40
4,000.00 -

Input Tax
502 Date Debit Credit
Credit Balance 31-Oct 93,598.80
10,400.00 10,400.00 31-Oct 1,248.00
- 31-Oct 89,950.80
31-Oct 1,200.00
10,400.00 - 31-Oct 1,200.00

Totals 93,598.80 93,598.80

ns and Allowances 503

Credit Balance
10,000.00 10,000.00 Output Tax
- Date Debit Credit
31-Oct 49,680.00
10,000.00 - 31-Oct 676.80
31-Oct 177,864.00
31-Oct 226,387.20
480.00
600
Credit Balance Totals 227,544.00 227,544.00
8,000.00
8,000.00 -

8,000.00 - Vouchers Payable

Date Debit Credit
30-Sep 532,801.48
31-Oct 2,179,537.55
31-Oct 1,836,856.15
601 31-Oct 219,520.00
Credit Balance
22,190.00 Totals 2,056,376.15 2,712,339.03
22,190.00 -

22,190.00 -
Therese Ballada, Capital
 Date Debit Credit
30-Sep 2,555,395.05
602 31-Oct 205,000.00
Credit Balance 31-Oct 654,762.52
2,750.00
2,750.00 - Totals 205,000.00 3,210,157.57

2,750.00 -

Therese Ballada, Withdrawals

Date Debit Credit
603 31-Oct 205,000.00
Credit Balance 31-Oct 205,000.00
50,000.00
50,000.00 - Totals 205,000.00 205,000.00

50,000.00 -

Income Summary
Date Debit Credit
604 31-Oct 654,762.52
Credit Balance 31-Oct 654,762.52
22,300.00
22,300.00 - Totals 654,762.52 654,762.52

22,300.00 -
 212 Repair and Maintenance 605
Balance Date Debit Credit Balance
2,928.75 31-Oct 7,400.00 7,400.00
- 31-Oct 7,400.00 -
5,857.50
Totals 7,400.00 7,400.00 -
5,857.50

Salaries Expense 610

213 Date Debit Credit Balance
Balance 31-Oct 233,000.00 233,000.00
900.00 31-Oct 233,000.00 -
-
1,800.00 Totals 233,000.00 233,000.00 -

1,800.00

SSS & EC Contributions Expense 611

Date Debit Credit Balance
214 31-Oct 10,563.60 10,563.60
Balance 31-Oct 10,563.60 -
14,170.98
- Totals 10,563.60 10,563.60 -
14,170.98

14,170.98
PhilHealth Contributions Expense 612
Date Debit Credit Balance
31-Oct 2,928.75 2,928.75
220 31-Oct 2,928.75 -
Balance
- Totals 2,928.75 2,928.75 -
-

-
Pag-IBIG Contributions Expense 613
Date Debit Credit Balance
31-Oct 900.00 900.00
221 31-Oct 900.00 -
Balance
- Totals 900.00 900.00 -
 -

Uncollectible Accounts Expense 620

Date Debit Credit Balance
230 31-Oct 4,771.20 4,771.20
Balance 31-Oct 4,771.20 -
136,436.40
Totals 4,771.20 4,771.20 -
136,436.40

Depreciation Expense - Furniture and Fixtures 630

230-1 Date Debit Credit Balance
Balance 31-Oct 7,605.00 7,605.00
93,598.80 31-Oct 7,605.00 -
92,350.80
2,400.00 Totals 7,605.00 7,605.00 -
1,200.00
-

- Depreciation Expense - Equipments 631

Date Debit Credit Balance
31-Oct 12,250.00 12,250.00
31-Oct 12,250.00 -
230-2
Balance Totals 12,250.00 12,250.00 -
49,680.00
49,003.20
226,867.20
480.00 Depreciation Expense - Service Vehicle 632
- Date Debit Credit Balance
31-Oct 5,500.00 5,500.00
- 31-Oct 5,500.00 -

Totals 5,500.00 5,500.00 -

240
Balance
532,801.48 Miscellaneous Expense 640
2,712,339.03 Date Debit Credit Balance
875,482.88 31-Oct 700.00 700.00
655,962.88 31-Oct 700.00 -

655,962.88 Totals 700.00 700.00 -

300 Interest Expense 650

 Balance Date Debit Credit Balance
2,555,395.05 31-Oct 3,833.33 3,833.33
2,350,395.05 31-Oct 3,833.33
3,005,157.57
Totals 3,833.33 3,833.33 -
3,005,157.57

301
Balance
205,000.00
-

302
Balance
654,762.52
-

-
Equipments 152
Date Debit Credit Balance
31-Oct 735,000.00 735,000.00

Totals 735,000.00 - 735,000.00

Accumulated Depreciation - Equipments 153

Date Debit Credit Balance
30-Sep 134,500.00 134,500.00
31-Oct 12,250.00 146,750.00

Totals - 146,750.00 146,750.00

Service Vehicle 154

Date Debit Credit Balance
31-Oct 410,000.00 410,000.00

Totals 410,000.00 - 410,000.00

Accumulated Depreciation - Service Vehicle 155

Date Debit Credit Balance
30-Sep 33,000.00 33,000.00
31-Oct 5,500.00 38,500.00

Totals - 38,500.00 38,500.00

Rent Deposit 160

Date Debit Credit Balance
31-Oct 150,000.00 150,000.00

Totals 150,000.00 - 150,000.00

Utilities Deposit 161
Date Debit Credit Balance
31-Oct 18,500.00 18,500.00

Totals 18,500.00 - 18,500.00

Notes Payable 200

Date Debit Credit Balance
30-Sep 500,000.00 500,000.00
31-Oct 500,000.00 -

Totals 500,000.00 500,000.00 -

Interest Payable 201

Date Debit Credit Balance
30-Sep 16,166.67 16,166.67
31-Oct 16,166.67 -

Totals 16,166.67 16,166.67 -

Accounts Payable 202

Date Debit Credit Balance
31-Oct 482,048.00 482,048.00

Totals - 482,048.00 482,048.00

Salaries Payable 210

Date Debit Credit Balance
31-Oct -
-
-
-

Totals - - -

SSS & EC Contributions Payable 211

Date Debit Credit Balance
31-Oct 5,086.40 5,086.40
31-Oct 5,086.40 -
 31-Oct 15,650.00 15,650.00

Totals 5,086.40 20,736.40 15,650.00

 KASHATO SHIRTS
WORKSHEET
October 31, 2015

Unadjusted Adjusted
Adjustments
No. Account Title Trial Balance Trial Balance
Debit Credit Debit Credit Debit
100 Cash 888,430.25 22,400.00 910,830.25
101 Petty Cash 16,000.00 16,000.00
110 Notes Receivable 33,600.00 33,600.00
111 Interest Receivable - 134.40 134.40
112 Accounts Receivable 188,160.00 22,400.00 165,760.00
113 Allowance for Uncollectible Acconts 2,688.00 4,771.20
120 Merchandise Inventory 871,200.00 871,200.00
130 Supplies 31,690.00 22,190.00 9,500.00
140 Prepaid Insurance 12,750.00 2,750.00 10,000.00
141 Prepaid Rent 150,000.00 50,000.00 100,000.00
150 Furniture and Fixtures 676,000.00 676,000.00
151 Accumulated Depreciation - Furniture and Fixtures 74,250.00 7,605.00
152 Equipments 735,000.00 735,000.00
153 Accumulated Depreciation - Equipments 134,500.00 12,250.00
154 Service Vehicle 410,000.00 410,000.00
155 Accumulated Depreciation - Service Vehicle 33,000.00 5,500.00
160 Rent Deposit 150,000.00 150,000.00
161 Utilities Deposit 18,500.00 18,500.00
200 Notes Payable
201 Interest Payable
202 Accounts Payable 482,048.00
210 Salaries Payable
211 SSS & EC Contributions Payable 15,650.00
212 PhilHealth Contributions Payable 5,857.50
213 Pag-IBIG Contributions Payable 1,800.00
214 Withholding Tax Payable 14,170.98
220 Rent Payable
221 Utilities Payable
230 Value-Added Tax Payable 136,436.40
230-1 Input Tax
230-2 Output Tax
240 Vouchers Payable 655,962.88 655,962.88
300 Therese Ballada, Capital 2,555,395.05
301 Therese Ballada, Withdrawals 205,000.00 205,000.00
302 Income Summary -
400 Sales 1,896,200.00
401 Sales Disounts 5,640.00 5,640.00
405 Sales Returns and Allowances 4,000.00 4,000.00
410 Interest Income 1,600.00 134.40
500 Purchases 684,400.00 684,400.00
501 Transportation In 4,000.00 4,000.00
502 Purchases Discounts 10,400.00
503 Purchases Returns and Allowances 10,000.00
600 Advertising Expense 8,000.00 8,000.00
601 Supplies Expense 22,190.00 22,190.00
602 Insurance Expense 2,750.00 2,750.00
603 Rent Expense 50,000.00 50,000.00
604 Utilities Expense 22,300.00 22,300.00
605 Repair and Maintenance 7,400.00 7,400.00
610 Salaries Expense 233,000.00 233,000.00
611 SSS & EC Contributions Expense 10,563.60 10,563.60
612 PhilHealth Contributions Expense 2,928.75 2,928.75
613 Pag-IBIG Contributions Expense 900.00 900.00
620 Uncollectible Accounts Expense 4,771.20 4,771.20
630 Depreciation Expense - Furniture and Fixtures 7,605.00 7,605.00
631 Depreciation Expense - Equipments 12,250.00 12,250.00
632 Depreciation Expense - Service Vehicle 5,500.00 5,500.00
640 Miscellaneous Expense 700.00 700.00
650 Interest Expense 3,833.33 3,833.33
TOTALS 5,373,995.93 5,373,995.93 783,563.48 783,563.48 5,404,256.53
NET INCOME
-
-
 Adjusted Income
Balance Sheet
Trial Balance Statement
Credit Debit Credit Debit Credit
910,830.25
16,000.00
33,600.00
134.40
165,760.00
7,459.20 7,459.20
871,200.00 700,360.00 700,360.00
9,500.00
10,000.00
100,000.00
676,000.00
81,855.00 81,855.00
735,000.00
146,750.00 146,750.00
410,000.00
38,500.00 38,500.00
150,000.00
18,500.00

482,048.00 482,048.00

15,650.00 15,650.00
5,857.50 5,857.50
 1,800.00 1,800.00
14,170.98 14,170.98

136,436.40 136,436.40

2,555,395.05 2,555,395.05
205,000.00

1,896,200.00 1,896,200.00
5,640.00
4,000.00
1,734.40 1,734.40
684,400.00
4,000.00
10,400.00 10,400.00
10,000.00 10,000.00
8,000.00
22,190.00
2,750.00
50,000.00
22,300.00
7,400.00
233,000.00
10,563.60
2,928.75
900.00
4,771.20
 7,605.00
12,250.00
5,500.00
700.00
3,833.33
5,404,256.53 1,963,931.88 2,618,694.40 4,140,684.65 3,485,922.13 - - -
654,762.52 654,762.52
2,618,694.40 2,618,694.40 4,140,684.65 4,140,684.65
-
 KASHATO SHIRTS
Accounts Receivable Subsidiary Ledger

Client: Cardenas Marketing

Date PR Debit Credit
30-Sep General Ledger 17,920.00
1-Oct General Ledger 56,000.00
19-Oct General Ledger 17,920.00
30-Oct General Ledger 56,000.00

Client: Tresma Mata Store

Date PR Debit Credit
30-Sep General Ledger 6,720.00
31-Oct General Ledger 6,720.00

Client: Del Mundo Shirts Station

Date PR Debit Credit
30-Sep General Ledger 89,600.00
1-Oct General Ledger 89,600.00
4-Oct General Ledger 22,400.00 -
29-Oct General Ledger 22,400.00

Client: Feliciano Outfitters

Date PR Debit Credit
30-Sep General Ledger -
31-Oct General Ledger 76,160.00

Client: Marasigan Enterprises

Date PR Debit Credit
30-Sep General Ledger 78,400.00
12-Oct General Ledger 78,400.00
19-Oct General Ledger 64,960.00
31-Oct General Ledger 64,960.00
 Client: Modesto Bargain House
Date PR Debit Credit
30-Sep General Ledger 26,880.00
8-Oct General Ledger 26,880.00
12-Oct General Ledger 53,760.00
22-Oct General Ledger 53,760.00
29-Oct General Ledger 89,600.00

Client: Selisana Garments

Date PR Debit Credit
30-Sep General Ledger 49,280.00
4-Oct General Ledger 4,480.00
5-Oct General Ledger 44,800.00
16-Oct General Ledger 100,800.00
26-Oct General Ledger 100,800.00

Client: Calamba Commercial

Date PR Debit Credit
30-Sep General Ledger 44,800.00
8-Oct General Ledger 11,200.00
19-Oct General Ledger 33,600.00

TOTAL 777,280.00 611,520.00

edger

Balance
17,920.00
73,920.00
56,000.00
-

Balance
6,720.00
-

Balance
89,600.00
-
22,400.00
-

Balance
-
76,160.00

Balance
78,400.00
-
64,960.00
-
Balance
26,880.00
-
53,760.00
-
89,600.00

Balance
49,280.00
44,800.00
-
100,800.00
-

Balance
44,800.00
33,600.00
-

165,760.00
 KASHATO SHIRTS
Accounts Receivable Subsidiary Ledger
Balances as at October 31, 2015

Feliciano Outfitters P 76,160.00

Modesto Bargain House 89,600.00
Total P 165,760.00
 KASHATO SHIRTS
Unpaid Vouchers by Due Date
Balance as at October 31, 2015

Voucher Account
Due Date Payee Amount
No. Classification
11/04/2015 208 Manalo Shirt Factory P 22,848.00 Accounts Payable
11/10/2015 228 SSS 15,650.00 SSS and EC Contributions Payable
11/11/2015 229 Philhealth 5,857.50 Philhealth Contributions Payable
11/10/2015 231 BIR - W/holding Tax 14,170.98 Withholding Taxes Payable
11/15/2015 230 Pag-IBIG 1,800.00 Pag-IBIG Contributions Payable
11/16/2015 214 Medina Office Systems 29,120.00 Accounts Payable
11/19/2015 216 Camiseria Palaganas 112,000.00 Accounts Payable
11/25/2015 233 BIR - VAT 136,436.40 VAT Payable
12/23/2015 220 Burgos Shirts 112,000.00 Accounts Payable
12/25/2015 221 Blanche Mftg. Co. 206,080.00 Accounts Payable
P 655,962.88

Unpaid Vouchers By Account Classification

Accounts Payable P 482,048.00

SSS and EC Contributions Payable 15,650.00
Philhealth Contributions Payable 5,857.50
Pag-IBIG Contributions Payable 1,800.00
Withholding Taxes Payable 14,170.98
VAT Payable 136,436.40
P 655,962.88
-
 KASHATO SHIRTS
Income Statement
For the Month Ended October 31, 2015

Gross Sales P
Less:
Sales Discounts P 5,640.00
Sales Return and Allowances 4,000.00
Net Sales
Less: Cost of Sales
Merchandise Inventory, Beginning
Add: Net Purchases
Purchases 684,400.00
Add:
Transportation In 4,000.00
Less:
Purchases Discounts 10,400.00
Purchases Returns and Allowances 10,000.00
Total Goods Available for Sale
Less: Merchandise Inventory, Ending
Total Profit
Interest Income
Gross Profit
Less: Operating Expenses
Advertising Expense
Supplies Expense
Insurance Expense
Rent Expense
Utilities Expense
Repair and Maintenance
Salaries Expense
SSS & EC Contributions Expense
PhilHealth Contributions Expense
Pag-IBIG Contributions Expense
Uncollectible Accounts Expense
Depreciation Expense - Furniture and Fixtures
Depreciation Expense - Equipments
Depreciation Expense - Service Vehicle
Miscellaneous Expense
Interest Expense
Total Operating Expenses
Net Income (Loss)
TS
nt
ber 31, 2015

1,896,200.00

9,640.00
P 1,886,560.00

871,200.00

668,000.00
1,539,200.00
700,360.00 838,840.00
1,047,720.00
1,734.40
1,049,454.40

8,000.00
22,190.00
2,750.00
50,000.00
22,300.00
7,400.00
233,000.00
10,563.60
2,928.75
900.00
4,771.20
7,605.00
12,250.00
5,500.00
700.00
3,833.33
394,691.88
P 654,762.52
 KASHATO SHIRTS
Statement of Changes in Owner's Equity
For the Month Ended October 31, 2015

Therese Ballada, Capital, beginning P 2,555,395.05

Add/(Deduct):
Net Income 654,762.52
Therese Ballada, Withdrawals (205,000.00)
Therese Ballada, Capital, ending P 3,005,157.57
 KASHATO SHIRTS
Statement of Financial Position
As of October 31, 2015

Assets

Current Assets
Cash
Petty Cash
Notes Receivable
Interest Receivable
Accounts Receivable P 165,760.00
Allowance for Uncollectible Accounts (7,459.20)
Accounts Receivable (net)
Merchandise Inventory
Supplies
Prepaid Insurance
Prepaid Rent
Total Current Assets

Non-Current Assets
Furniture and Fixtures 676,000.00
Accumulated Depreciation - Furniture and Fixtures (81,855.00)
Furniture and Fixtures (net)
Equipments 735,000.00
Accumulated Depreciation - Equipments (146,750.00)
Equipments (net)
Service Vehicle 410,000.00
Accumulated Depreciation - Service Vehicle (38,500.00)
Service Vehicle (net)
Rent Deposit
Utilities Deposit
Total Non-Current Assets
Total Assets

Liabilities and Owner's Equity

Current Liabilities
Accounts Payable
SSS & EC Contributions Payable
PhilHealth Contributions Payable
Pag-IBIG Contributions Payable
Withholding Tax Payable
 Value-Added Tax Payable
Total Current Liabilities

Owner's Equity
Therese Ballada, Capital
Total Owner's Equity
Totla Liabilities and Owner's Equity
TS
Position
015

P 910,830.25
16,000.00
33,600.00
134.40

158,300.80
700,360.00
9,500.00
10,000.00
100,000.00
P 1,938,725.45

594,145.00

588,250.00

371,500.00
150,000.00
18,500.00
1,722,395.00
3,661,120.45

Equity

482,048.00
15,650.00
5,857.50
1,800.00
14,170.98
 136,436.40
655,962.88

3,005,157.57
3,005,157.57
P 3,661,120.45
 KASHATO SHIRTS
Statement of Cash Flows
For the Month Ended October 31, 2015

Net Income P 654,762.52

Add/(Deduct):
Depreciation Expense 25,355.00
Uncollectible Accounts Expense 4,771.20
Accounts Written-off (6,720.00)
Decrease in Notes Receivable 206,400.00
Decrease in Interest Receivable 2,265.60
Decrease in Accounts Receivable 147,840.00
Decrease in Merchandise Inventory 170,840.00
Decrease in Supplies 5,000.00
Decrease in Prepaid Insurance 2,750.00
Decrease in Prepaid Rent 50,000.00
Increase in Furniture and Fixtures (26,000.00)
Decrease in Notes Payable (500,000.00)
Decrease in Interest Payable (16,166.67)
Increase in Vouchers Payable 123,161.40
Increase in Therese Ballada, Withdrawals (205,000.00)
Net Cash Inflow (Outflow) 639,259.05
Add: Cash Balance, beginning 271,571.20
Cash Balance, ending P 910,830.25
 KASHATO SHIRTS
Post Closing Trial Balance
October 31, 2015

No. Account Title

100 Cash P
101 Petty Cash
110 Notes Receivable
111 Interest Receivable
112 Accounts Receivable
113 Allowance for Uncollectible Accounts
120 Merchandise Inventory
130 Supplies
140 Prepaid Insurance
141 Prepaid Rent
150 Furniture and Fixtures
151 Accumulated Depreciation - Furniture and Fixtures
152 Equipments
153 Accumulated Depreciation - Equipments
154 Service Vehicle
155 Accumulated Depreciation - Service Vehicle
160 Rent Deposit
161 Utilities Deposit
240 Vouchers Payable
300 Therese Ballada, Capital
301 Therese Ballada, Withdrawals
P
RTS
alance
15

Debit Credit
910,830.25 P
16,000.00
33,600.00
134.40
165,760.00
7,459.20
700,360.00
9,500.00
10,000.00
100,000.00
676,000.00
81,855.00
735,000.00
146,750.00
410,000.00
38,500.00
150,000.00
18,500.00
655,962.88
3,210,157.57
205,000.00
4,140,684.65 P 4,140,684.65
 KASHATO SHIRTS
Bank Reconciliation
October 31, 2015

Unadjusted Bank Balance P 899,766.25

Add/(Deduct):
Undeposited Cash 45,000.00
Outstanding Checks (33,936.00)
Adjusted Bank Balance P 910,830.25

Unadjusted Book Balance P 888,430.25 -

Add/(Deduct):
Bank collection 22,400.00
Adjusted Book Balance P 910,830.25