Accounting 110 Report

Jan. 2 - Mr.
Ernesto Amegleo made an additional investment of

P200,000.
CASH RECEIPTS JOURNAL

Date Customers Cash Cash in Sales Accounts SUNDRIES
Sales Bank Receivable
Invoice Account Amount
/O.R. Titles
Dr. Cr. Cr. Dr. Cr.
20B
Jan. 2 Ernesto Amegleo P 200,000 E. Amegleo, P200,000
Capital
3 - Deposited to the Bank the amount of P200,000 broken
down as follows:
Check Deposit Amount

BDO Check#02437 P150,000
Cash Deposit
Denomination No. of pcs.
1,000 20 20,000
500 60 30,000
Total Deposits P200,000
3 - Bought merchandise on account from the following suppliers:
Charge Sales
Suppliers Invoice No. Terms: Amount
Davao Grocery 04785 3/10, n/30 P 40,000
Gaisano Metro 00832 30 days 50,000
SM City-Davao 07413 30 days 28,000
Robinsons Plaza 05327 39 days 7,000
P 125,000
Assume that all delivery receipts that were issued by the suppliers were
checked and posted to stock cards.
PURCHASES JOURNAL
Charge Accounts Purcahase

s
Date Customers Terms Sales Payable
Invoice Cr. Dr
No.
20B
Jan. 3 Davao Grocery 3/10, 04785 P40 000 P40 000
N/30
Gaisano Metro 30 Days 00832 50 000 50 000
SM City Davao 30 Days 07413 28 000 28 000
Robinsons Plaza 30 Days 05327 7 000 7 000

4 - Issued Check No. 01854 with covering Check Voucher No. 1 to
Gaisano Metro in the amount of P850 in payment of freight and
delivery expenses incurred (freight in).
CASH DISBUREMENTS JOURNAL

Accoun
Check Check Cash in Purchase ts SUNDRIES
Date Payee Vouch No. Bank s Payable
Account Amount
er No.
Titles
Cr. Dr. Dr. Dr. Cr.
20B
Jan. 4 Gaisano Metro 01 01854 P850 Freight In P850
5 - Returned to Gaisano Metro merchandise costing
P3,000 for not conforming with the order and no
replacement was made.
GENERAL JOURNAL
Date Particulars F Debit Credit
20B
Jan. 5 Accounts Payable 8 P 3,000
Purchase Returns and Allowances 17 P 3,000
Return of merchandise.
7 - Sold merchandise for cash to Koronadal Grocery in
the amount of P60,000 and issued Cash Sales Invoice
No. 0034.
Sales Bank Receivabl
e Account Amount
Invoice/
Titles
O.R. Dr. Cr. Cr. Dr. Cr.
20B
Jan. 2 Ernesto Amegleo P200 000 E. Amegleo, P200,000
Capital
7 Koronadal Grocery 0034 60 000 P60 000
8 - Deposited to the bank in the amount of P60,000 from
Koronadal Grocery broken down as follows:

PNB Check# 04781 P 55,000
Cash Deposit
500 7 3,500
100 5 500
50 20 1,000
Total Deposits P 60,000
10 - Sold merchandise on account to the following
customers:
Charge
Customers Sales Terms Amount
Invoice
No.
Dadiangas Merchandising 0210 2/10, n/30 P 40,000
Tupi Consumer’s 0211 30 days 18,000
Cooperative
Sarangani Trading 0212 30 days 51,000
Total P 109,000
SALES JOURNAL
Charge Accounts Sales
Date Customers Terms Sales Receivabl
Invoice e
No.
Dr. Cr.
20B
Jan. 10 Dadiangas 2/10, 0210 P40 000 P40 000
Merchandising N/30
Tupi Customers 30 Days 0211 18 000 18 000
Cooperative
Sarangani Trading 30 Days 0212 51 000 51 000
10 - Issued Check No. 01855 with covering Check Voucher
No. 02 to Mindanao Star Bus Co. in payment of freight
and handling charges (freight out) in the amount of P
1,000.
CASH DISBURSEMENTS JOURNAL

Accoun
Date Payee Vouch No. Bank s Payable Account Amount
er No. Titles
Cr. Dr. Dr. Dr. Cr.
20B
10 Mindanao Star 02 01855 1 000 Freight Out 1 000

Bus. Co.
11 - Received from Tupi Consumer’s Cooperative, P2,000 worth
of merchandise returned for bad order and was not
replaced.
GENERAL JOURNAL
20B
11 Sales Returns and Allowances 14 2,000

Accounts Receivable 2 2,000
15 - Sold merchandise for cash to Maasim General Merchandising
amounting to P28,500 (net of 5% trade discount) as per Cash
Sales Invoice No. 0035.
Date Customers Cash Cash in Sales Account SUNDRIES
Sales Bank s
Invoice/ Receiva Account Amount
O.R. ble Titles
Dr. Cr. Cr. Dr. Cr.

20B
Jan. 2 Ernesto Amegleo P200 000 E. Amegleo, P200
Capital 000
15 Maasim General 0035 28 500 28 500

Merchandising
16 - Deposited to the bank in the amount of P28,500 from
Maasim General Merchandise broken down as
follows:
Cash Deposit
Denomination No. of pcs. Amount
1,000 23 P 23,000
500 11 5,500
18 – Issued Check No. 01856 with covering Check Voucher No. 03 to
Office Solutions re-purchase of store supplies for cash amounting
to P10,000.

Accou
Chec Chec Cash Purchas nts SUNDRIES
Date Payee k k No. in es Payabl
Account Amount
Vouc Bank e
Titles
her
No. Cr. Dr. Dr. Dr. Cr.
20B
10 Mindanao Star 02 01855 1 000 Freight out 1 000
Bus. Co.
18 Office Solutions 03 01856 10 000 Supplies 10 000
Inventory
20 - Collected the account of Diangas Merchandising in the
amount of P39,200 (net of 2% sales discount).
Invoice/ e Account Amount
O.R. Dr. Cr. Cr. Titles Dr. Cr.
20B
Jan. 2 Ernesto Amegleo P200 000 E. Amegleo, P200 000
Capital
15 Maasim General 0035 28 500 28 500

Merchandising
20 Dadiangas 0101 39 200 P40 000 Sales P800
Merchandising Discount
20 – Deposited to the bank in the amount of P39,200
collected from Dadiangas Merchandising with the
following denomations:
Cash Deposit
Denomination No. of pcs. Amount
500 60 P 30,000
200 45 9,000
100 2 200
20 – Issued Check No. 01857 with covering Check Voucher No. 04
to City Treasurer of Davao re-payment of permits and
licenses in the amount of P4,800.
Accoun
Chec Check Cash in Purchas ts SUNDRIES
Date Payee k No. Bank es Payabl Account Amount
Vouch e Titles
er No.
Cr. Dr. Dr. Dr. Cr.
20B
10 Mindanao Star 02 01855 1 000 Freight out 1 000

Bus. Co.
Inventory
20 City Treasurer of 04 01857 4 800 Taxes & 4 800
Davao Licenses
21 – Issued Check No. 01858 with covering Check Voucher No. 05 to E.
Amegleo re-withdrawal from his capital in the amount of P15,000.
Accoun
er No. Titles
Cr. Dr. Dr. Dr. Cr.
20B
10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

Co.
Inventory
Davao Licenses
21 Ernesto Amegleo 05 01858 15 000 E. Amegleo, 15 000
Drawing
21- Issued Check No. 01859 with covering Check Voucher No. 06 to Davao
Grocery in the amount of P38,800 (net of 3% purchase discount).
Accounts
Check Check Cash in Purchases Payable SUNDRIES
Date Payee Vouche No. Bank Account Amount
r No. Titles
Cr. Dr. Dr. Dr. Cr.
20B

Co.
Inventory
Davao Licenses
Drawing
21 Davao Grocery 06 01859 38 800 P40 000 Purchase P1 200
Discount
25 – Sold merchandise on account to the following
customers:
Charge Sales
Customers Invoice No. Terms: Amount
Panabo 0213 30 days P 30,000

Enterprises
Tagum 0214 2/10, N/30 40,000
Marketing
Total P 70,000
SALES JOURNAL

Date Customers Terms Sales Receivable
Invoice Dr. Cr.
No.
20B
Jan. 10 Dadiangas Merchandising 2/10, N/30 0210 P40 000 P40 000
Tupi Customers 30 Days 0211 18 000 18 000

Cooperative
25 Panabo Enterprises 30 Days 0213 30 000 30 000
Tagum Marketing 2/10, N/30 0214 40 000 40 000
29 – Issued Check No. 01860 with covering Check
Voucher No. 07 to Center Point Corporation
for the purchase of merchandising for cash in the
amount of P45,000.
Account
Check Check Cash in Purchase s SUNDRIES
er No. Titles
Cr. Dr. Dr. Dr. Cr.
20B

Co.
Inventory
Davao Licenses
Drawing
21 Davao Grocery 06 01859 38 800 P40 000 Purchase 1 200
Discount
29 Center point 07 01860 45 000 P45 000
Grocery
30 – Issued Check No. 01861 with covering Check
Voucher No. 08 to Mr. Oscar Flores in payment of
space rental occupied by the store in the amount of
P5,000.
Account
Check Check Cash in Purchases s SUNDRIES
Date Payee Vouche No. Bank Payable
Account Amount
r No.
Titles
Cr. Dr. Dr. Dr. Cr.
20B

Co.
Inventory
Davao Licenses
Drawing
Discount
29 Center point 07 01860 45 000 P45 000
Grocery
30 Mr. Oscar Flores 08 01861 5 000 Rent 5 000
Expense
31 – Issued Check No. 01862 with covering
Check Voucher No. 09 to Mr. Ben Cabrera, the
payroll in charge in the amount of P35,000.
Accounts
Date Payee Vouche No. Bank
Account Amount
r No.
Titles
Cr. Dr. Dr. Dr. Cr.
20B

Co.
Inventory
Davao Licenses
Drawing
Discount
29 Center point Grocery 07 01860 45 000 P45 000
30 Mr. Oscar Flores 08 01861 5 000 Rent Expense 5 000
31 Mr. Ben Cabrera 08 01862 35 000 Salaries 35 000

Expense
31 – Partial collection of account from Sarangani Trading in the
amount of P25,000. Issued Official Receipt No. 0102.
e Account Amount
Invoice/
Titles
20B
Capital
15 Maasim General 0035 28 500 28 500

Merchandising
31 Sarangani Trading 0102 25 000 25 000
31 – Deposited to the bank collection of account from
Sarangani Trading in the amount of P25,000 broken
down as follows:
BDO Check# 03971 P 10,000
RCBC Check# 01898 10,000
Cash Deposit
1,000 4 4,000
500 2 1,000
SPECIAL JOURNALS
SALES JOURNAL

Date Customers Terms Sales Receivable
Invoice No.
Dr. Cr.
20B
Jan. 1o Dadiangas Merchandising 2/10, N/30 0210 P40 000 P40 000
Tupi Customers Cooperative 30 Days 0211 18 000 18 000

25 Panabo Enterprises 30 Days 0213 30 000 30 000
Tagum Marketing 2/10, N/30 0214 40 000 40 000
P179 000 P179 000
PURCHASES JOURNAL
Accounts Purchas
Charge Payable es
Date Customers Terms Sales
Invoice Cr. Dr.
No.
20B
Jan. 3 Davao Grocery 3/10, 04785 P40 000 P40 000
N/30
Gaisano Metro 30 Days 00832 50 000 50 000
SM City Davao 30 Days 07413 28 000 28 000
Robinsons Plaza 30 Days 05327 7 000 7 000
P125 000 P125 000
e Account Amount
Invoice/
Titles
20B
Capital
15 Maasim General 0035 28 500 28 500

Merchandising
31 Sarangani Trading 0102 25 000 25 000
P352 700 P88 500 P65 000 P800 P200 000

Accounts
Date Payee Vouche No. Bank
Account Amount
r No.
Titles
Cr. Dr. Dr. Dr. Cr.
20B
10 Mindanao Star Bus. Co. 02 01855 1 000 Freight out 1 000
Inventory
Davao Licenses
Drawing
21 Davao Grocery 06 01859 38 800 P40 000 Purchase P1 200
Discount
29 Center point Grocery 07 01860 45 000 P45 000
30 Mr. Oscar Flores 08 01861 5 000 Rent Expense 5 000
31 Mr. Ben Cabrera 08 01862 35 000 Salaries 35 000

Expense
P155 450 P45 000 P40 000 P71 650 P1 200
GENERAL JOURNAL
20B
Purchase Returns and 17 P 3,000
Allowances

GENERAL LEDGERS
Cash in Bank
Date Particulars F Debit Date Particulars F Credit
20B 1 P280,000 20B 155,450

Jan. Jan.
352,700
632,700 155,450
477,250
Accounts Receivable
20B P179,000 20B P67,000

Jan. Jan.
P112,000
Estimated Uncollectible Account
20B 31 P1,120
Jan.
Merchandise Inventory
20B 1 P120,00
Jan. 0
Supplies Inventory
20B P10,000
Jan.
Furniture and Fixture

20B 1 P250,00
Jan. 0
Accumulated Depreciation-Furniture and Fixture
20B P4,200
Jan.
Accounts Payable
20B P40,000 20B P125,000

Jan. Jan.
3,000
43,000 125,000
P82,000
Accrued Utilities Expense
20B P3,000
Jan.
E. Amegleo, Capital
20B P650,000
Jan.
200,000
P850,000
E. Amegleo, Drawing
20B P15,000
Jan.
Income and Expense Summary

Sales
20B P179,000
Jan.
88,500
20B 31 P267,500 P267,500
Jan.
0 0
Sales Returns and Allowances

20B P2,000 20B 31 P2,000

Jan. Jan.
0 0
Sales Discount
20B P800 20B 31 P800

Jan. Jan.
0 0
Purchases
20B P45,000
Jan.
125,000
P170,000 20B 31 P170,000
Jan.
0 0
Purchase Returns and Allowances
20B 31 P3,000 20B P3,000

Jan. Jan.
0 0
Purchase Discounts
20B 3 P1,200 20B P1,200

Jan. 1 Jan.
0 0
Freight In
20B P850 20B 31 P850

Jan. Jan.
0 0
Uncollectible Account Expense

20B P1,120 20B P1,120

Jan. Jan.
0 0
Depreciation Expense
20B P4,200 20B P4,200

Jan. Jan.
0 0
Freight Out
20B P1,000 20B P1,000

Jan. Jan.
0 0
Rent Expense
20B P5,000 20B 31 P5,000

Jan. Jan.
0 0
Salaries Expense
20B P35,000 20B 31 P35,000

Jan. Jan.
0 0
Taxes and Licenses
20B P4,800 20B 31 P4,800

Jan. Jan.
0 0
Utilities Expense
20B P3,000 20B 31 P3,000

Jan. Jan.
0 0
SUBSIDIARY LEDGERSS
Accounts Receivable
Customer: Dadiangas Merchandising
Address: Roxas Boulevard, General Santos
Date Particulars Debit Credit Balance
20B
Jan. 10 Sales on acount P 40,000 P 40,000
20 Collection of Accounts P 40,000 P0
Receivable
Customer: Panabo Enterprises

Address: National Highway, Panabo City
20B
Jan. 25 Sales on P 30,000 P 30,000
account
Customer: Sarangani Trading
Address: J. Catolico Avenue, General Santos City
20B
Jan. 10 Sales on account P 51,000 P 51,000
31 Collected partial of the P 25,000 26,000
account
Customer: Tagum Marketing

Address: Sobrecary Street, Tagum City
20B
Jan. 25 Sales on account P 40,000 P 40,000
Customer: Tupi Consumer’s Cooperative
Address: Tupi, South Cotabato

20B
Jan. 10 Sales on P 18,000 P 18,000
account
11 Merchandis P 2,000 16,000
e returned
SUBSIDIARY LEDGERS
Accounts Payable
Customer: Davao Grocery
Address: Matina, Davao City
20B
Jan. 3 Purchases on P 40,000 P 40,000
account
21 Payment of account P 40,000 0
Customer: Gaisano Metro

Address: Toril, Davao City
20B
account
5 Merchandise P 3,000 47,000
returned
Customer: Robinson’s Plaza
Address: Bankerohan, Davao City
20B
account
Customer: SM City- Davao

Address: Lanang, Davao City
20B
account
Amegleo Grocery
Schedule of Accounts Receivable
As of January 31, 20B
Customers Amount
Panabo Enterprises P 30,000
Sarangani Trading 26,000
Tagum Merchandising 40,000
Tupi Consumer’s 16,000
Cooperative
Total P 112,000
Amegleo Grocery
Schedule of Accounts Payable
Suppliers Amount
Gaisano Metro P 47,000
Robinson’s Plaza 7,000
SM City-Davao 28,000
Total P 82,000
Amegleo Grocery
Trial Balance
January 31, 20B
Account Titles Debit Credit
Cash in Bank P 477, 250
Accounts Receivable 112,00
Merchandise Inventory 120,000
Supplies Inventory 10,000
Furniture and Fixtures 250,000
Accounts Payable P 82,000
E. Amegleo, Capital 850,000
E. Amegleo, Drawing 15,000
Sales 267,500
Sales Returns & Allowances 2,000
Sales Discounts 800
Purchases 170,000
Purchase Returns & Allowances 3,000
Purchase Discounts 1,200
Freight In 850
Freight Out 1,000
Rent Expense 5,000
Salaries Expense 35,000
Taxes and Licenses 4,800
Total P 1,203,700 P 1,203,700
ADJUSTING ENTRIES
b.) Estimated Uncollectible accounts should be provided at 1% of
the outstanding Accounts Receivable amounting to P112,000.
GENERAL JOURNAL
20B

31 Uncollectible Accounts 20 1,120
Estimated Uncollectible Accounts 3 1,120
To record uncollectible accounts
c.) The depreciation to be recorded for the month of January 20B is P4,200.
GENERAL JOURNAL
20B
Depreciation Expense 21 4,200
Accumulated Depreciation 7 4,200
To record depreciation.
d.) Unpaid light and water
(Utilities Expense) bills for the
month of January 20B is P3,000.
GENERAL JOURNAL
20B
Accumulated Depreciation 7 4,200
To record depreciation.
Utilities Expense 26 3,000
Accrued Utilities 9 3,000
To record unpaid light and water
Amegleo Grocery
Worksheet
January 31, 20B
Trial Balance Adjustment Statement of Statement of Financial

Comprehensive Position
Income
Account Titles Debit Credit Debit Credit Debit Credit Debit Credit
Cash in Bank P477,250 P477,250
Accounts 112,000 112,000
Receivable
Merchandise 120,000 P120,000
Inventory
Supplies Inventory 10,000 10,000
Furniture & 250,000 250,000

Fixtures
Accounts Payable P82,000 P82,000
E. Amegleo, 850,000 850,000
Capital
E. 15,000 15,000
Amegleo,Drawing
Trial Balance Adjustments Statement of Statement of
Comprehensive Financial
Income Position
Sales 267,500 267,500
Sales Returns & 2,000 2,000
Allowances
Sales Discount 800 800
Purchases 170,000 170,000
Purchase Returns & 3,000 3,000
Allowances
Purchase Discount 1,200 1,200
Freight In 850 850
Freight Out 1,000 1,000
Rent Expense 5,000 5,000
Salaries Expense 35,000 35,000
Taxes and Licenses 4,800 4,800
Total 1,203,700 1,203,700
Trial Balance Adjustments Statement of Statement of Financial
Comprehensive Position
Income
Adjustments:
Merchandise Inventory 145,000 145,000
Uncollectible Accounts P1,120 1,120

Est. Uncollectible P1,120 1,120
Accounts
Depreciation Expense 4,200 4,200
Accumulated 4,200 4,200

Depreciation
Utilities Expense 3,000 3,000
Accrued Utilities 3,000 3,000

Expense
Total P8,320 P8,320 P347,770 P416,700 P1,009,250 P940,320
Profit 68,930 68,930

Total P416,700 P416,700 P1,009,250 P1,009,250
Amegleo Grocery
Statement of Financial Position
As of 31 January 20B
Assets
Current Assets:
Cash In Bank P 477,250
Accounts Receivable P 112,000
Estimated Uncollectible Accounts 1,120 110,880
Total Current Assets P 743,130
Non-Current Assets:
Property, Plant and Equipment
Furniture and Fixtures P 250,000
Accumulated Depreciation (4,200)
Total Non-Current Assets P 245,800
TOTAL ASSETS P 988,930
Liabilities and Owner’s Equity
Liabilities
Current Liabilities:
Accounts Payable P 82,000
Accrued Liabilities 3,000
Total Current Liabilities P 85,000
Owner’s Equity
E. Amegleo, Capital P 903,930
TOTAL LIABILITIES and OWNER’S EQUITY P 988,930
Amegleo Grocery
Statement of Comprehensive Income
For the month ended 31 January 20B
Net Sales:
Gross Sales P 267, 500
Less: Sales Return and Allowances P 2,000
Sales Discount 800 2,800
Net Sales P 264, 700
Cost of Goods Sold:
Merchandise Inventory, Jan. 1 P 120,000
Purchases P 170,000
Less: Purchase Returns and Allowance P 3000
Purchase Discounts 1,200 4, 200

Net Purchases P 165, 800
Add: Freight In 850
Delivered Cost of Purchases 166, 650
Cost of Goods Available for Sale P 286, 650
Less: Merchandise Inventory ,Jan. 31 145, 000
Cost of Goods Sold 141, 650
Gross Profit: P 123, 050
Gross Profit P 123, 050
Less: Operating Expenses
Freight Out P 1,000

Rent Expense 5,000
Salaries Expense 35,000
Taxes and Licences 4,800

Uncollectible Accounts 1,120
Depreciation Expense 4,200
Utilities Expense 3,000 54,120
Net Profit P 68,930
Amegleo Grocery
Statement of Changes in Owner’s Equity
For the month ended January 20B
E. Amegleo, Capital- Jan. 1 P 650, 000
Add: Additional Investment P 200, 000
Profit 68, 930 268, 930

Total P 918, 930
Less: E. Amegleo, Drawing 15, 000
E. Amegleo, Capital- Jan. 31 P 903, 930
CLOSING ENTRIES
GENERAL JOURNAL
20B
Jan. 31 Sales 13 P267,500
Purchase Returns and Allowances 17 3,000
Purchase Discount 18 1,200
Income and Expense Summary 12 P271,700
To close revenue account.
31 Income and Expense Summary 12 227,770
Purchases 16 170,000
Sales Returns and Allowances 14 2,000
Sales Discount 15 800
Freight In 19 850
Freight Out 22 1,000
Rent Expense 23 5,000
Salaries Expense 24 35,000
Utilities Expense 26 3,000
Uncollectible Accounts 20 1,120
To close expense accounts.
GENERAL JOURNAL
20B
Jan. 31 Income and Expense Summary 12 P 43,930
E. Amegleo, Capital 10 P 43,930
To close income and expense summay
31 E. Amegleo, Capital 10 120,000
Merchandise Inventory, Jan.1 4 120,000
To close merchandise, beg.
31 Mercahndise Inventory, Jan. 31 4 145,000
E. Amegleo, Capital 10 145,000
To record merchandise,end.
31 E. Amegleo, Capital 10 15,000
E. Amegleo, Drawing 11 15,000
To close drawing account.
Amegleo Grocery
Post-Closing Trial Balance
Account Titles Debit Credit
Cash In Bank P 477,250
Accounts Receivable 112,000
Estimated Uncollectible Accounts P 1,120
Furniture and Fixtures 250,000
Accumulated Depreciation 4,200
Accounts Payable 82,000
Accrued Utilities Expense 3,000
E. Amegleo, Capital 903,930
Total P 944,250 P 944,250

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Jan. 2 - Mr.

Ernesto Amegleo made an additional investment of

CASH RECEIPTS JOURNAL

Check Deposit Amount

Charge Accounts Purcahase

SM City Davao 30 Days 07413 28 000 28 000

Robinsons Plaza 30 Days 05327 7 000 7 000

CASH DISBUREMENTS JOURNAL

Check Deposit Amount

CASH DISBURSEMENTS JOURNAL

10 Mindanao Star 02 01855 1 000 Freight Out 1 000

11 Sales Returns and Allowances 14 2,000

Dr. Cr. Cr. Dr. Cr.

7 Koronadal Grocery 0034 60 000 P60 000

15 Maasim General 0035 28 500 28 500

CASH DISBURSEMENTS JOURNAL

15 Maasim General 0035 28 500 28 500

10 Mindanao Star 02 01855 1 000 Freight out 1 000

10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

Panabo 0213 30 days P 30,000

Charge Accounts Sales

Tupi Customers 30 Days 0211 18 000 18 000

10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

10 Mindanao Star Bus. 02 01855 1 000 Freight out 1 000

30 Mr. Oscar Flores 08 01861 5 000 Rent Expense 5 000

31 Mr. Ben Cabrera 08 01862 35 000 Salaries 35 000

15 Maasim General 0035 28 500 28 500

Charge Accounts Sales

Tupi Customers Cooperative 30 Days 0211 18 000 18 000

15 Maasim General 0035 28 500 28 500

P352 700 P88 500 P65 000 P800 P200 000

30 Mr. Oscar Flores 08 01861 5 000 Rent Expense 5 000

31 Mr. Ben Cabrera 08 01862 35 000 Salaries 35 000

11 Sales Returns and Allowances 14 2,000

20B 1 P280,000 20B 155,450

20B P179,000 20B P67,000

Furniture and Fixture

20B P40,000 20B P125,000

Income and Expense Summary

Date Particulars F Debit Date Particulars F Credit

Sales Returns and Allowances

20B P2,000 20B 31 P2,000

20B P800 20B 31 P800

20B 31 P3,000 20B P3,000

20B 3 P1,200 20B P1,200

20B P850 20B 31 P850

Uncollectible Account Expense

20B P1,120 20B P1,120

20B P4,200 20B P4,200

20B P1,000 20B P1,000

20B P5,000 20B 31 P5,000

20B P35,000 20B 31 P35,000

20B P4,800 20B 31 P4,800

20B P3,000 20B 31 P3,000

Customer: Panabo Enterprises

Customer: Tagum Marketing

Address: Tupi, South Cotabato

Customer: Gaisano Metro

Customer: SM City- Davao

11 Sales Returns and Allowances 14 2,000

Trial Balance Adjustment Statement of Statement of Financial