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cash in bank accounts payable

bb 952,450.00 311,474.30 31 31 58,800.00


31 871,640.00 28 2,240.00
1,824,090.00 311,474.30 29 5,600.00
1,512,615.70 66,640.00

petty cash fund


bb 1,000.00 accrued utilities expense
1 121.00
accounts receivable
bb 564,200.00 519,400.00 31 sss premium payable
31 1,173,312.00 5,600.00 28 5 3,904.00
1,737,512.00 525,000.00
1,212,512.00
3,904.00
estimated uncollectible accounts
2,072.00 bb
philhealth premium payable
advances to employees 5 1,000.00
bb 7,000.00 2,500.00 29
4,500.00
1,000.00
merchandise inventory, Jan 1
bb 950,600.00
withholding tax payable
prepaid insurance 9 1,179.77
bb 6,000.00 6,000.00
0.00 1,179.77
unused store supplies
bb 8,000.00 8,000.00 vat output tax
0.00 28 600.00
Vat input tax
31 100,560.00 240.00 28 600.00
31 19,011.00 600.00 29
119,571.00 840.00 vat payable
118,731.00 20 32,920.00

store furniture & Equipment


bb 425,000.00

accumulated depreciation
85,000.00 bb
accounts payable Diane L. Guitierrez, Capital
250,320.00 bb 2,537,733.23 bb
938,560.00 31
sales
1,188,880.00 1,047,600.00 31
1,122,240.00 331,000.00 31
1,378,600.00
crued utilities expense
121.00 bb sales returns & allowances
0.00 28 5,000.00
ss premium payable
3,904.00 bb sales discounts
1,366.70 31 16,500.00
2,537.30
7,808.00 Purchase
3,904.00 31 838,000.00
31 160,000.00
ealth premium payable 998,000.00
1,000.00 bb
500.00 29 Purchase returns & allowances
500.00 29 2,000.00
2,000.00 5,000.00
1,000.00 7,000.00

thholding tax payable Purchase Discount


1,179.77 bb 1,575.00 31
1,179.77 29
2,359.54 Freight in
1,179.77 29 195.00
vat output tax
125,712.00 31 Freight Out
37,740.00 31 29 423.00
163,452.00
162,852.00 insurance expense
vat payable 1 6,000.00
32,920.00 bb
0.00 Utilities Expense
29 121.00 121.00 1
0.00
store supplies used
1 8,000.00

sss/ec contribution
29 2,537.30
Philhealth contribution
29 500.00
salaries Expense
29 41,000.00

41,000.00

transportation expense
29 42.00

Vat input tax 118,731.00


vat output tax 162,852.00
vat payable 44,121.00
b Uncollectible accounts Expense 11,499.00
Estimated uncollectible accounts

c Depreciation Expense 7,083.33


Accumulated Deprecation

d Unused Store Supplies 3,000.00


Store Supplies Used

e Prepaid Insurance 5,250.00


Insurance Expense

f Bank Charge 100.00


Cash in Bank

g1 Retainer Fee 3,000.00


Withholding tax payable
accrued retainer fee

g2 Freight-in 1,850.00
Accounts Payable - RFM shipping Lines

g3 Postage and Telephone 1,215.55


g4 Utilities Expense 1,400.80
Accrued Postage and Telephone
Accrued Utilities Expense

g5 taxes licences 4,600.00


accrued taxes and licences
11,499.00

7,083.33

3,000.00

5,250.00

100.00

300.00
2,700.00

1,850.00

1,215.55
1,400.80

4,600.00
c
Account Titles Trial Balance Adjustments
D C D
cash in bank 1,512,615.70
petty cash fund 1,000.00
accounts receivable 1,212,512.00
estimated uncollectible accounts 2,072.00
advances to employees 4,500.00
merchandise inventory, Jan 1 950,600.00
store furniture & Equipment 425,000.00
accumulated depreciation 85,000.00
accounts payable 1,122,240.00
sss premium payable 3,904.00
philhealth premium payable 1,000.00
withholding tax payable 1,179.77
vat payable 44,121.00
Diane L. Guitierrez, Capital 2,537,733.23
sales ###
sales returns & allowances 5,000.00
sales discounts 16,500.00
Purchase 998,000.00
Purchase returns & allowances 7,000.00
Purchase Discount 1,575.00
Freight in 195.00 g2 1,850.00
Freight Out 423.00
insurance expense 6,000.00
store supplies used 8,000.00
sss/ec contribution 2,537.30
Philhealth contribution 500.00
salaries Expense 41,000.00
transportation expense 42.00
### ###
Merchandise inventory, Jan 31 a
Uncollectible accounts Expense b 11,499.00
Depreciation Expense c 7,083.33
Unused Store Supplies d 3,000.00
Prepaid Insurance e 5,250.00
Bank Charge f 100.00
Retainer Fee g1 3,000.00
accrued retainer fee
Postage and Telephone g3 1,215.55
Accrued Postage and Telephone
Utilities Expense g4 1,400.80
Accrued Utilities Expense
taxes licences g5 4,600.00
accrued taxes and licences
38,998.68
cash in bank
Adjustments Adjusted Trial Balance Income Statement
C D C D
f 100.00 1,512,515.70
1,000.00
1,212,512.00
b 11,499.00 13,571.00
4,500.00
950,600.00 950,600.00
425,000.00
c 7,083.33 92,083.33
g2 1,850.00 1,124,090.00
3,904.00
1,000.00
g1 300.00 1,479.77
44,121.00
2,537,733.23
1,378,600.00
5,000.00 5,000.00
16,500.00 16,500.00
998,000.00 998,000.00
7,000.00
1,575.00
2,045.00 2,045.00
423.00 423.00
e 5,250.00 750.00 750.00
d 3,000.00 8,000.00 5,000.00
2,537.30 2,537.30
500.00 500.00
41,000.00 41,000.00
42.00 42.00

11,499.00 11,499.00
7,083.33 7,083.33
3,000.00
5,250.00
100.00 100.00
3,000.00 3,000.00
g1 2,700.00 2,700.00
1,215.55 1,215.55
g3 1,215.55 1,215.55
1,400.80 1,400.80
g4 1,400.80 1,400.80
4,600.00 4,600.00
g5 4,600.00 4,600.00
38,998.68 5,218,073.68 5,215,073.68 2,051,295.98
113,149.02
2,164,445.00
come Statement Balance Sheet
C D C
1,512,515.70
1,000.00
1,212,512.00
13,571.00
4,500.00

425,000.00
92,083.33
1,124,090.00
3,904.00
1,000.00
1,479.77
44,121.00
2,537,733.23
1,378,600.00

7,000.00
1,575.00

777,270.00 ###

3,000.00
5,250.00

2,700.00

1,215.55

1,400.80
4,600.00
2,164,445.00 3,941,047.70 3,827,898.68
113,149.02
2,164,445.00 3,941,047.70 3,941,047.70
Datu Bago Commercial
Income Statement
For the month ended January 31, 20B
Net Sales
Gross Sales
Less: Sales Returns & allowances
Sales Discounts
Net Sales
Cost of Sales
Merchandise Inventory, Jan 1
Purchases 998,000.00
Less:Purchase Returns & Allowances 7,000.00
Purchase Discounts 1,575.00 8,575.00
Net Purchases 989,425.00
Freight In 2,045.00
Net Cost of Purchases
Goods Available for Sale
Less: Merchandise Inventory, Jan. 31
Cost of Sales
Gross Profit
Operating Expenses
Selling Expenses
Freight Out 423.00
Store Supplies Used 5,000.00
Transpotation Expense 42.00
General & Administrative Expenses
Insurance Expense 750.00
SSS/EC Contribution 2,537.30
Philhealth Contribution 500.00
Salaries Expense 41,000.00
Uncollectible Accounts Expense 11,499.00
Depreciation Expense 7,083.33
Bank Charge 100.00
Retainer Fee 3,000.00
Postage and Telephone 1,215.55
Utilities Expense 1,400.80
Taxes and Licenses 4,600.00
Profit
al

31, 20B

1,378,600.00
5,000.00
16,500.00 21,500.00
1,357,100.00

950,600.00

991,470.00
1,942,070.00
777,270
1,164,800.00
192,300.00

5,465.00

73,685.98 79,150.98
113,149.02
Datu Bago Commercial
Balance Sheet
As of January 31,20A
LIABILITIES & OWNER'S EQUITY
ASSETS LIABILITIES
Current Assets: Current Liabilities:
Cash in Bank 1,512,515.70 accounts payable
Petty Cash Fund 1,000.00 sss premium payable
Accounts Receivable 1,212,512.00 philhealth premium payable
Est. Uncollectible Accounts 13,571.00 1,198,941.00 withholding tax payable
Advances to Employees 4,500.00 vat payable
Unused Store Supplies 3,000.00 accrued retainer fee
Merchandise Inventory, Jan 31 777,270.00 Accrued Postage and Telephone
Prepaid Insurance 5,250.00 Accrued Utilities Expense
Total Current Assets 3,502,476.70 accrued taxes and licences
Non-Current Assets: total Current liabilities
Property and Equipment
Store Furniture and Equipment 425,000.00 OWNER'S EQUITY
Acc. Depreciation 92,083.33
Total Property and Equipment 332,916.67
TOTAL ASSETS 3,835,393.37 TOTAL LIABILITIES & OWNER'S EQUITY
R'S EQUITY

1,124,090.00
3,904.00
1,000.00
1,479.77
44,121.00
2,700.00
Telephone 1,215.55
1,400.80
4,600.00
1,184,511.12

2,650,882.25

OWNER'S EQUITY 3,835,393.37


Datu Bago Commercial
Statement of Changes in Owners Equity
For the month ended Jan 31, 20B

Diane L. Guitierrez, Capital 2,537,733.23


add: profit 113,149.02
ending capital 2,650,882.25