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Dee Gee Distributors

Dee Gee Distributors

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Dee Gee Distributors

Post Closing Trial Balance May 31, 2003
Accounts Cash Accounts Recievable Supplies Furniture Office Equipment Merchandise Inventory Accounts Payable Dee Gee, Capital - May 31 Accumulated Depreciation - Office Equipment Accumulated Depreciation - Furniture Allowance for Doubtful Accounts Utilities Payable Dr 11534 2950 1200 10000 15000 8000 Cr 5000 36684 3000 2500 500 1000 46684 -

1 2 3 4 5 6 7 8 9 10 11 12 13 14

46684 -

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

Dee Gee Distributors
Adjustments For the Month Ended, May 31, 2003
Accounts 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 45 46 47 48 49 50 2004 April d Utilities Expense Utilities Payable 1000 1000 Reversing Entries Dee Gee, Capital Income & Expense Summary 70000 70000 Income & Expense Summary Sales Returns and Allowances Sales Discount Purchases Freight-in Salaries Rent Depreciation Expense - Office Equipment Depreciation Expense - Furniture Supplies Used Doubtful Accounts Expense Utilities Expense Freight-out 54130 500 80 33550 700 5000 5000 3000 2500 1800 500 1000 500 Sales Purchase Returns and Allowances Purchase Discounts Income and Expense Summary 11050 1300 464 12814 Closing Entries Merchandise Inventory Income Summary 8000 8000 Utilities Expense Utilities Payable 1000 1000 Doubtful Accounts Expense Allowance for Doubtful Accounts 500 500 Supplies Used Supplies 1800 1800 Depreciation Expense - Furniture Accumulated Depreciation Expense - Furniture 2500 2500 2003 March Depreciation Expense - Office Equipment Accumulated Depreciation Expense - Office Equipment Dr 3000 3000 Cr

Prepared by: Jose Dennio P. Lim Jr. | CSIS3A

Reminder: Ung mga entry ng values ay ilalagay sa 3rd, 4th, 5th at 6th columns ng inyong six-column na worksheet.

Dee Gee Distributors
Income Statement For the Month Ended, May 31, 2003
Accounts Sales Less: Sales Discount Sales Returns and Allowances Net Sales Less: Costs of Good Sold Merchandise Inventory, May 1 Add: Net Purchases
Purchases Add: Freight-In

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25

11050 80 500 580 10470

Total Less: Purchase Discount Purchase Returns and Allowances Total Goods Available for Sale Less: Merchandise Inventory, May 31 Gross Loss Less: Operating Expenses Salaries Rent Depreciation Expense - Office Equipment Depreciation Expense - Furniture Supplies Used Doubtful Accounts Expense Utilities Expense Freight-out
Net Loss

33550 700 34250 464 1300 1764 32486 8000 24486 14016

5000 5000 3000 2500 1800 500 1000 500

19300 (33316)

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

Dee Gee Distributors
Statement of Financial Position For the Month Ended May 31, 2003
1 2 3 4 5 6 7 8 9 10 11 12 ASSETS Current Assets Cash Accounts Receivable Less: Allowance for Doubtful Accounts Supplies Merchandise Inventory Total Current Assets Non-Current Assets Furniture Less: Accumulated Depreciation Office Equipment Less: Accumulated Depreciation Total Non-Current Assets Total Assets LIABILITIES & EQUITIES Current Liabilities Accounts Payable Utilities Payable Total Current Liabilities Owner's Equity Edison, Capital - January 1 Less: Edison, Withdrawal Edison, Capital - March 31 Total Liabilities & Owner's Equity 5000 1000 6000

11534 2950 500 2450 1200 8000 23184

13 14 15 16 17 18 19 20 23 24 27 28 29 31 32 33 34 35

10000 2500 15000 3000

7500 12000 19500 42684

70000 33316 36684 42684

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

EDISON DETROIT
Worksheet For the Year Ended March 31, 2003
Accounts 1 Cash 2 Accounts Receivable 3 Supplies 4 Furniture 5 Office Equipment 6 Accounts Payable 7 Dee Gee, Capital 8 Sales 9 Sales Returns and Withdrawal 10 Sales Discount 11 Purchases 12 Purchase Returns and Allowances 13 Purchase Discounts Freight-Out Freight-In 14 Salaries 15 Rent Expense 16 TOTAL 17 18 Depreciation Expense - Office Equipment 19 Accumulated Depreciation Expense - Office Equipment 20 Depreciation Expense - Furniture 21 Accumulated Depreciation Expense - Furniture 22 Supplies Used 23 Doubtful Accounts Expense 24 Allowance for Doubtful Accounts 25 Utilities Expense 26 Utilities Payable 27 Merchandise Inventory 28 Income Summary 29 30 31 32 Subtotal Net Income Grand Total . 54130 102814 8000 8000 102814 54130 8000 20814 33316 54130 48684 33316 82000 82000 82000 1000 1000 8000 1800 500 500 1000 1000 2500 2500 1800 500 500 3000 3000 2500 2500 3000 3000 500 700 5000 5000 87814 87814 500 80 33550 1300 464 500 700 5000 5000 Trial Balance Dr 11534 2950 3000 10000 15000 5000 70000 11050 500 80 33550 1300 464 500 700 5000 5000 Cr Adjusted Trial Balance Dr 11354 2950 1200 10000 15000 5000 70000 11050 500 80 33550 1300 464 11050 Cr Income Statement Dr Cr Balance Sheet Dr 11534 2950 1200 10000 15000 5000 70000 Cr

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

EDISON DETROIT
Statement of Financial Position December 31, 2003
ASSETS 1 Current Assets 2 Cash 3 Accounts Receivable Less: Allowance for Doubtful Accounts 4 Supplies 5 Merchandise Inventory 6 Total Current Assets 7 8 Non-Current Assets 9 Furniture 11 Less: Accumulated Depreciation 12 Office Equipment 13 Less: Accumulated Depreciation 14 Total Non-Current Assets 15 Total Assets 16 52767 19410 125 3000 4950 23184 LIABILITIES and OWNER'S EQUITY Current Liabilities Accounts Payable Utilities Payable Total Current Liabilities Owner's Equity Edison, Capital - January 1 Less: Edison, Withdrawal Edison, Capital - March 31 5000 1000 6000

70000 33316 36684

10000 2500 15000 3000

7500 12000 19500 42684 Total Liabilities & Owner's Equity

42684

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

EDISON DETROIT
Worksheet For the Quarter Ended, March 31, 2003
Accounts 1 2 3 4 5 6 7 8 9 10 11 12 13 Cash Accounts Receivable Supplies Furniture Office Equipment Accounts Payable Dee Gee, Capital Sales Sales Returns and Withdrawal Sales Discount Purchases Purchase Returns and Allowances Purchase Discounts Freight-Out Freight-In 14 Salaries 15 Rent Expense 16 TOTAL 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Depreciation Expense - Office Equipment Accumulated Depreciation Expense - Office Equipment Depreciation Expense - Furniture Accumulated Depreciation Expense - Furniture Supplies Used Doubtful Accounts Expense Allowance for Doubtful Accounts Utilities Expense Utilities Payable Merchandise Inventory Income Summary Subtotal Net Income Grand Total 54130 3000 3000 2500 2500 1800 500 500 1000 1000 8000 16800 8000 16800 8000 102814 8000 102814 54130 8000 20814 33316 54130 1000 1000 8000 48684 33316 82000 82000 82000 1800 500 500 1000 1000 2500 2500 1800 500 500 3000 3000 2500 2500 3000 3000 Trial Balance Dr Cr 11534 2950 3000 10000 15000 5000 70000 11050 500 80 33550 1300 464 500 700 5000 5000 87814 87814
Adjustments Dr Cr

1800

Adjusted Trial Balance Dr Cr 11354 2950 1200 10000 15000 5000 70000 11050 500 80 33550 1300 464 500 700 5000 5000

Income Statement Dr Cr

Balance Sheet Dr Cr 11534 2950 1200 10000 15000 5000 70000

11050 500 80 33550 1300 464 500 700 5000 5000

Prepared by: Jose Dennio P. Lim Jr. CSIS3A

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