Account Transactions

Trips Car Services

Date Range: Feb 01, 2020 to Feb 28, 2020
Accrual (Paid & Unpaid)

DATE DESCRIPTION DEBIT CREDIT BALANCE

Cash in Bank
Under: Asset > Cash and Bank

Starting Balance PHP0.00

PHP1,000,000.
Feb 01, 2020 Initial investment PHP1,000,000.00
00

PHP700,000.0
Feb 01, 2020 Service Vehicle for cash PHP300,000.00
0

PHP420,000.0
Feb 01, 2020 Bank loan PHP720,000.00
0

Feb 04, 2020 Installation service for cash PHP16,800.00 PHP736,800.00

Freight for merchandise

Feb 04, 2020 PHP5,000.00 PHP731,800.00
purchased

Purchased of merchandise for PHP224,000.0

Feb 05, 2020 PHP507,800.00
cash 0

Feb 06, 2020 Merchandise sold for cash PHP156,800.00 PHP664,600.00

Feb 06, 2020 Freight out of merchandise sold PHP3,920.00 PHP660,680.00

Refund for merchandise

Feb 06, 2020 PHP7,280.00 PHP653,400.00
returned

Feb 10, 2020 To record sales returns PHP8,960.00 PHP662,360.00

Feb 11, 2020 Payment within discount period PHP4,032.00 PHP666,392.00

Feb 11, 2020 Payment within discount period PHP197,568.00 PHP468,824.00

Feb 12, 2020 Payment of taxes and licenses PHP15,000.00 PHP453,824.00

Feb 23, 2020 Collection within discount period PHP274,400.00 PHP728,224.00

Feb 24, 2020 Installation income received PHP22,400.00 PHP750,624.00

Feb 27, 2020 Payment of rent for the month PHP30,000.00 PHP720,624.00

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 1 / 11
 DATE DESCRIPTION DEBIT CREDIT BALANCE

Feb 28, 2020 Withdrawal by the owner PHP30,000.00 PHP690,624.00

Feb 28, 2020 Salaries for the month PHP50,000.00 PHP640,624.00

PHP1,903,392. PHP1,262,768.0
Totals and Ending Balance PHP640,624.00
00 0

Balance Change
PHP640,624.00
Difference between starting and ending balances

Cash on Hand
Under: Asset > Cash and Bank

Starting Balance PHP0.00

Feb 23, 2020 Collection within discount period PHP5,600.00 -PHP5,600.00

Totals and Ending Balance PHP0.00 PHP5,600.00 -PHP5,600.00

Balance Change
-PHP5,600.00
Difference between starting and ending balances

Accounts Receivable
Under: Asset > Money in Transit

Starting Balance PHP0.00

PHP280,000.0
Feb 14, 2020 Merchandise sold on account PHP280,000.00
0

Feb 18, 2020 Merchandise sold on account PHP235,200.00 PHP515,200.00

Feb 27, 2020 Sold merchandise on account PHP338,240.00 PHP853,440.00

PHP853,440.0
Totals and Ending Balance PHP0.00 PHP853,440.00
0

Balance Change
PHP853,440.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 2 / 11
 Merchandise Inventory
Under: Asset > Inventory

Starting Balance PHP0.00

Feb 01, 2020 Initial investment PHP45,000.00 PHP45,000.00

Totals and Ending Balance PHP45,000.00 PHP0.00 PHP45,000.00

Balance Change
PHP45,000.00
Difference between starting and ending balances

Store Supplies Inventory

Under: Asset > Inventory

Starting Balance PHP0.00

Feb 02, 2020 Store Supplies Inventory PHP10,000.00 PHP10,000.00

Totals and Ending Balance PHP10,000.00 PHP0.00 PHP10,000.00

Balance Change
PHP10,000.00
Difference between starting and ending balances

Transportation Equipment
Under: Asset > Property, Plant, Equipment

Starting Balance PHP0.00

PHP700,000.0
Feb 01, 2020 Service Vehicle for cash PHP700,000.00
0

PHP700,000.0
Totals and Ending Balance PHP0.00 PHP700,000.00
0

Balance Change
PHP700,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 3 / 11
 Prepaid Interest
Under: Asset > Other Short-Term Asset

Starting Balance PHP0.00

Feb 01, 2020 Bank loan PHP80,000.00 PHP80,000.00

Totals and Ending Balance PHP80,000.00 PHP0.00 PHP80,000.00

Balance Change
PHP80,000.00
Difference between starting and ending balances

Accounts Receivable
Under: Asset

Starting Balance PHP0.00

Feb 23, 2020 Collection within discount period PHP274,400.00 -PHP274,400.00

PHP274,400.0
Totals and Ending Balance PHP0.00 -PHP274,400.00
0

Balance Change
-PHP274,400.00
Difference between starting and ending balances

Accounts Payable
Under: Liability > Credit Card

Starting Balance PHP0.00

Feb 03, 2020 Merchandise purchase on credit PHP201,600.00 PHP201,600.00

Merchandise purchansed on PHP330,400.0

Feb 20, 2020 PHP532,000.00
account 0

PHP532,000.0
Totals and Ending Balance PHP0.00 PHP532,000.00
0

Balance Change
PHP532,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 4 / 11
 Notes Payable- PNB
Under: Liability > Loan and Line of Credit

Starting Balance PHP0.00

PHP500,000.0
Feb 01, 2020 Bank loan PHP500,000.00
0

PHP500,000.0
Totals and Ending Balance PHP0.00 PHP500,000.00
0

Balance Change
PHP500,000.00
Difference between starting and ending balances

Input Tax
Under: Liability > Sales Tax on Sales and Purchases

Starting Balance PHP0.00

Feb 03, 2020 Merchandise purchase on credit PHP21,600.00 -PHP21,600.00

Purchased of merchandise for

Feb 05, 2020 PHP24,000.00 -PHP45,600.00
cash

Refund for merchandise

Feb 06, 2020 PHP780.00 -PHP46,380.00
returned

Feb 11, 2020 Payment within discount period PHP432.00 -PHP45,948.00

Merchandise purchansed on
Feb 20, 2020 PHP35,400.00 -PHP81,348.00
account

Totals and Ending Balance PHP81,780.00 PHP432.00 -PHP81,348.00

Balance Change
-PHP81,348.00
Difference between starting and ending balances

Output Tax
Under: Liability > Sales Tax on Sales and Purchases

Starting Balance PHP0.00

Feb 04, 2020 Installation service for cash PHP1,800.00 PHP1,800.00

Feb 06, 2020 Merchandise sold for cash PHP16,800.00 PHP18,600.00

Feb 10, 2020 To record sales returns PHP960.00 PHP19,560.00

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 5 / 11
 Output Tax
Under: Liability > Sales Tax on Sales and Purchases

Feb 14, 2020 Merchandise sold on account PHP30,000.00 PHP49,560.00

Feb 18, 2020 Merchandise sold on account PHP25,200.00 PHP74,760.00

Feb 23, 2020 Collection within discount period PHP600.00 PHP74,160.00

Feb 24, 2020 Installation income received PHP2,400.00 PHP76,560.00

Feb 27, 2020 Sold merchandise on account PHP36,240.00 PHP112,800.00

Totals and Ending Balance PHP600.00 PHP113,400.00 PHP112,800.00

Balance Change
PHP112,800.00
Difference between starting and ending balances

Accounts Payable
Under: Liability

Starting Balance PHP0.00

Feb 02, 2020 Store Supplies Inventory PHP10,000.00 PHP10,000.00

Feb 11, 2020 Payment within discount period PHP197,568.00 -PHP187,568.00

Totals and Ending Balance PHP197,568.00 PHP10,000.00 -PHP187,568.00

Balance Change
-PHP187,568.00
Difference between starting and ending balances

Sales
Under: Income > Income

Starting Balance PHP0.00

Feb 06, 2020 Merchandise sold for cash PHP140,000.00 PHP140,000.00

PHP250,000.0
Feb 14, 2020 Merchandise sold on account PHP390,000.00
0

Feb 18, 2020 Merchandise sold on account PHP210,000.00 PHP600,000.00

PHP302,000.0
Feb 27, 2020 Sold merchandise on account PHP902,000.00
0

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 6 / 11
 Sales
Under: Income > Income

PHP902,000.0
Totals and Ending Balance PHP0.00 PHP902,000.00
0

Balance Change
PHP902,000.00
Difference between starting and ending balances

Sales Discount
Under: Income > Discount

Starting Balance PHP0.00

Feb 23, 2020 Collection within discount period PHP5,000.00 -PHP5,000.00

Totals and Ending Balance PHP5,000.00 PHP0.00 -PHP5,000.00

Balance Change
-PHP5,000.00
Difference between starting and ending balances

Sales Return and Allowances

Under: Income > Discount

Starting Balance PHP0.00

Feb 10, 2020 To record sales returns PHP8,000.00 PHP8,000.00

Totals and Ending Balance PHP0.00 PHP8,000.00 PHP8,000.00

Balance Change
PHP8,000.00
Difference between starting and ending balances

Installation Income
Under: Income > Other Income

Starting Balance PHP0.00

Feb 04, 2020 Installation service for cash PHP15,000.00 PHP15,000.00

Feb 24, 2020 Installation income received PHP20,000.00 PHP35,000.00

Totals and Ending Balance PHP0.00 PHP35,000.00 PHP35,000.00

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 7 / 11
 Installation Income
Under: Income > Other Income

Balance Change
PHP35,000.00
Difference between starting and ending balances

Freight Out
Under: Expense > Operating Expense

Starting Balance PHP0.00

Feb 06, 2020 Freight out of merchandise sold PHP3,920.00 PHP3,920.00

Totals and Ending Balance PHP3,920.00 PHP0.00 PHP3,920.00

Balance Change
PHP3,920.00
Difference between starting and ending balances

Rent Expense
Under: Expense > Operating Expense

Starting Balance PHP0.00

Feb 27, 2020 Payment of rent for the month PHP30,000.00 PHP30,000.00

Totals and Ending Balance PHP30,000.00 PHP0.00 PHP30,000.00

Balance Change
PHP30,000.00
Difference between starting and ending balances

Freight-in
Under: Expense > Cost of Goods Sold

Starting Balance PHP0.00

Freight for merchandise

Feb 04, 2020 PHP5,000.00 PHP5,000.00
purchased

Totals and Ending Balance PHP5,000.00 PHP0.00 PHP5,000.00

Balance Change
PHP5,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 8 / 11
 Purchase Discount
Under: Expense > Cost of Goods Sold

Starting Balance PHP0.00

Feb 11, 2020 Payment within discount period PHP3,600.00 -PHP3,600.00

Totals and Ending Balance PHP0.00 PHP3,600.00 -PHP3,600.00

Balance Change
-PHP3,600.00
Difference between starting and ending balances

Purchase Return and Allowances

Under: Expense > Cost of Goods Sold

Starting Balance PHP0.00

Refund for merchandise

Feb 06, 2020 PHP6,500.00 PHP6,500.00
returned

Totals and Ending Balance PHP6,500.00 PHP0.00 PHP6,500.00

Balance Change
PHP6,500.00
Difference between starting and ending balances

Purchases
Under: Expense > Cost of Goods Sold

Starting Balance PHP0.00

PHP180,000.0
Feb 03, 2020 Merchandise purchase on credit PHP180,000.00
0

Purchased of merchandise for PHP200,000.0

Feb 05, 2020 PHP380,000.00
cash 0

Merchandise purchansed on PHP295,000.0

Feb 20, 2020 PHP675,000.00
account 0

PHP675,000.0
Totals and Ending Balance PHP0.00 PHP675,000.00
0

Balance Change
PHP675,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 9 / 11
 Taxes and Licenses Expense
Under: Expense > Payment Processing Fee

Starting Balance PHP0.00

Feb 12, 2020 Payment of taxes and licenses PHP15,000.00 PHP15,000.00

Totals and Ending Balance PHP15,000.00 PHP0.00 PHP15,000.00

Balance Change
PHP15,000.00
Difference between starting and ending balances

Payroll – Salary & Wages

Under: Expense > Payroll Expense

Starting Balance PHP0.00

Feb 28, 2020 Salaries for the month PHP50,000.00 PHP50,000.00

Totals and Ending Balance PHP50,000.00 PHP0.00 PHP50,000.00

Balance Change
PHP50,000.00
Difference between starting and ending balances

Trip, Capital
Under: Equity > Business Owner Contribution and Drawing

Starting Balance PHP0.00

PHP1,045,000.
Feb 01, 2020 Initial investment PHP1,045,000.00
00

PHP1,045,000.
Totals and Ending Balance PHP0.00 PHP1,045,000.00
00

Balance Change
PHP1,045,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 10 / 11
 Trip, Drawing
Under: Equity > Business Owner Contribution and Drawing

Starting Balance PHP0.00

Feb 28, 2020 Withdrawal by the owner PHP30,000.00 -PHP30,000.00

Totals and Ending Balance PHP30,000.00 PHP0.00 -PHP30,000.00

Balance Change
-PHP30,000.00
Difference between starting and ending balances

Account Transactions - Trips Car Services Created on Mar 23, 2020

Date Range: Feb 01, 2020 to Feb 28, 2020 Page 11 / 11