Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet

Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

Cash on Hand 0.00

Cash in Bank 101,374.09 25.00 101,349.09 101,349.09
Petty Cash Fund 1,000.00 1,000.00 1,000.00
Notes Receivables 0.00 -
Accounts Receivable 31,810.00 31,810.00 31,810.00
Allow. For Doubt. Accounts 1,033.60 954.30 1,987.90 1,987.90
Interest Receivables 0.00 -
Merchandise Inventory 74,672.50 74,672.50 74,672.50
Supplies Inventory 5,337.00 450.00 4,887.00 4,887.00
Prepaide Inventory 1,015.00 338.33 676.67 676.67
Excess of Input Tax 600.00 600.00 -
Land 50,000.00 50,000.00 50,000.00
Building 150,000.00 150,000.00 150,000.00
Acc. Dep.-Bldg 6,000.00 500.00 6,500.00 6,500.00
Delivery Equipment 75,500.00 75,500.00 75,500.00
Acc. Dep.-Del. Equip. 3,888.89 388.89 4,277.78 4,277.78
Fur. & Equip. 16,008.80 16,008.80 16,008.80
Acc. Dep.-Furn. & Equip. 1,467.44 133.40 1,600.84 1,600.84
Voucher Payable 22,140.00 22,140.00 22,140.00
Utilities Payable - 890.00 890.00 890.00
Interest Payable -
SS, MCR, EC, HDMF PREM. Pay 711.30 722.70 1,434.00 1,434.00
W/Tax Payable 798.00 798.00 798.00
Taxes Payable -
Loans Payable 3,416.66 3,416.66 3,416.66
VAT Payable - 3,357.27 3,357.27 3,357.27
Input Tax 4,154.30 4,154.30 -
Output Tax 8,111.57 8,111.57 -
Notes Payable 117,500.00 117,500.00 117,500.00
Marquez, Capital 233,000.00 233,000.00 233,000.00
Marquez, Personal 2,500.00 2,500.00 2,500.00
Banzon, Capital 100,000.00 100,000.00 100,000.00
Banzon, Personal 2,500.00 2,500.00 2,500.00
Sales 68,357.15 68,357.15 68,357.15
Sales Returns & Allow. 446.43 446.43 446.43
Sales Discount 314.29 314.29 314.29
Purchases 34,767.86 34,767.86 34,767.86
Purchases Returns & Allow - -
Purchases Discount 148.66 148.66 148.66
Freight In
Selling Expense
Advetising
Delivery 230.00 230.00 230.00
Depreciation-Bldg 250.00 250.00 250.00
Depreciation-Fur. & Equipment 66.70 66.70 66.70
Depreciation-Del. & Equipment 388.89 388.89 388.89
Gas & Oil 300.00 300.00 300.00
Repair & Maintenance
Supplies 150.00 150.00 150.00
SS, MCR, EC & HDMF 348.70 348.70 348.70
Salaries 5,400.00 5,400.00 5,400.00
Utilities 445.00 445.00 445.00
Miscellaneous
General Expense
Bad Debts 954.30 954.30 954.30
Depreciation-Bldg 250.00 250.00 250.00
Depreciation-Fur. & Equipment 66.70 66.70 66.70
Insurance 338.33 338.33 338.33
Repair & Maintenance
Salaries 6,000.00 6,000.00 6,000.00
SS, MCR, EC & HDMF 374.00 374.00 374.00
Supplies 300.00 300.00 300.00
Taxes & License
Utilities 445.00 445.00 445.00
Miscellaneous 105.00 105.00 105.00
Interest Income 12.00 12.00 12.00
Bank Srvice Charge - 25.00 25.00 25.00
Interest Expense 2,550.00 2,550.00 2,550.00
Revenue & Expense Summary
merchadise Inventory 75,500.00 75,500.00
Totals 566,585.27 566,585.27 12,514.19 12,514.19 565,420.26 565,420.26 129,188.70 144,017.81 511,731.56 496,902.45
Net Income Before Tax 14,829.11
Totals 144,017.81 144,017.81

Net Incme Before Tax 14,829.11

Tax Payable of 30% 4,448.73 4,448.73
Net Income After tax 10,380.38 10,380.38
Totals 14,829.11 14,829.11 511,731.56 511,731.56