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PURCHASE JOURNAL

Cash Accounts
Date Supplier Terms Invoice No. Purchases Purchases Payable
DR CR F
Apr 1 Monching Furnitures 5/10, n/30 24857 /
1 San Pedro Sounds COD 43210 12000 12000
1 Laguna Corporation 5/20, n/30 45678 31500 /
1 Sony Corporation 5/5, n/30 77777 30610.03 /
1 LG Corporation n/60 98765 7200 /
1 Margas Philippines 5/10, n/60 12555 18540 /
2 Ronron Appliances n/10 131313 2880 /
2 San Pedro Sounds n/20 45668 24900 /
2 Philips Electrical n/60 23345 24200 /
2 Mars Industries 30 day, 16% note 123453 27000
2 Upsilon Appliances COD 23569 28200 28200
3 MNS Marketing COD 33662 7200 7200
8 Patrick Industries 10 day, 14% note 223344 26440 6440
10 Sanyo Philippines 5/20, n/30 654321 7110 /
20 San Pedro Sounds 5/20, n/60 4788 10260 /
22 Laguna Corporation n/45 56784 14060 /
23 Toshiba Radiola 60 day note 88888 12330
24 Philips Electrical n/60 33344 10600 /
26 Sony Corporation n/60 99999 7760 /
26 Margas Philippines n/60 14789 19250 /
322040.03 53840
(500) (/)
338540.03
DR

1
SE JOURNAL
Accounts Notes
Payable Payable SUNDRIES
CR CR Account Name F DR CR
16500 Furnitures and Fixtures 120 16500

31500
30610.03
7200
18540
2880
24900
24200
27000

20000
7110
10260
14060
12330
10600
7760
19250
225370.03 59330 16500
(200) (201)
338540.03
CR
CAS

Date Payee Explanation

Apr 1 Asela Tropicales Rent for April, May June


1 Binan Municipal Treasurer Municipal License
1 Nina Reyes Petty Cash Fund
1 San Pedro Sounds Invoice no. 43210
2 Upsilon Appliances Payment of PI 23567
3 Laguna News Advertising for 5mos.
3 Ching Printing Press Supplies Expense
3 MNS Marketing Payment of Inv. 33662
5 Laguna Corporation Partial Payment
6 Riccel Tropicales Cash Drawing
6 Sony Corporation In full of Inv# 77777
7 Monarch Insurance Company One year insurance premium
8 Patrick Industries Downpayment for PI 223344
9 Monching Furnitures In full of PI 2248567 less 5%
10 Margas Philippines In full of PI 2555
12 Ronron Appliances In full of PI 131313
16 Payroll Payroll for April 1 - 15

16 Jethro Motors Inc. Delivery Truck SN 8899733


17 Nina Reyes Replenishment of PCV# 001 - 003

17 Laguna Corporation In full of PI 45678


19 Patrick Industries Payment of 14%, 10 day note

22 Ong Shipping Company Delivery Charges of SI003


23 Mags Innovation Inc. Purchase of Office Equipment
27 Sanyo Philippines Payment of Acct. PI 654321
30 Payroll Payroll for April 16 - 30

30 Nina Reyes Replenishment of PCV# 004 - 006


CASH PAYMENTS JOURNAL
Purchase Accounts
CV Chk Cash Discounts Payable
No. No. CR. CR F DR
001 1000 4500
002 1001 295
003 1002 1000
004 1003 12000
005 1004 28200
006 1005 500
007 1006 2200
008 1007 7200
008 1008 12600 / 12600
010 1009 500
011 1010 29079.53 1530.5 / 30610.03
012 1011 508
013 1012 6440
014 1013 15675 825 / 16500
015 1014 16732.35 880.65 / 17613
016 1015 2880 / 2880
017 1016 10271.9

018 1017 35000


019 1018 630

020 1019 17325 1575 / 18900


021 1020 20077.78

022 1021 250


023 1022 3555
024 1023 6754.5 355.5 / 7110
025 1024 9699.65

026 1025 550.8

244424.51 5166.65 106213.03


(100) (502) (200)
251489.61 251489.61
CR DR

1
Cash
Purchases SUNDRIES
DR Account Name F DR CR
Prepaid Rent 107 4500
Prepaid Taxes and Licences 110 295
Petty Cash 101 1000
12000
28200
Prepaid Advertising 111 500
Supplies Expense 507 2200
7200

Riccel, Drawing 301 500

Prepaid Insurance 109 508


6440

Salaries Expense 509 10935


Withholding Tax Payable 204 663.1
Delivery Equipment 124 35000
Taxes and Licenses 505 20
Utilities Expense 510 250
Miscellaneous Expense 520 360

Notes Payable 201 20000


Interest Expense 518 77.78
Delivery Expense 511 250
Office Equipment 122 3555

Salaries Expense 509 10935


Withholing Tax Payable 204 663
ECC, Pag-ibig Payable 203 280.6
SSS Medicare Payable 205 291.75
Supplies Expense 507 76.4
Miscellaneous Expense 520 474.4
53840 91436.58 1898.45
(/)
SALES JOURNAL
Accounts
Date Customer Terms Invoice No. Sales Cash Sales Receivable
CR. DR. F
Apr 2 Sto. Nino Store COD 001 42000 42000
3 Laguna Appliances n/20 002 18100 3620 /
4 Monaliza Servantes 20 day, 12% note 003 12450 2500
5 Richard Mance 2/3, n/30 004 17000 /
9 Filinvest Appliances 5/10, n/30 005 19143 /
12 Wilfredo Verzosa COD 006 8529.3 8529.3
15 Dela Paz Trading 5/5, n/20 007 26027 6027 /
15 San Pedro College n/60 008 12700 /
18 Tropicales Marketing 10%, 30 day note 009 22165 12165
20 Bernie Reyes COD 010 13247.1 13247.1
23 Richard Mance 5/10, n/30 011 7500 /
25 Wilfredo Verzosa n/60 012 4069 /
27 Asela Tropicales COD 013 4972.5 4972.5
29 Riccel Verzosa 60 Day, 12% note 014 6682
214584.9 93060.9
(400) /
214584.9 214584.9
CR DR

1
Accounts Notes
Receivable Receivable
DR. DR

14480
9950
17000
19143

20000
12700
10000

7500
4069

6682
94892 26632
(102) (104)
CASH RECEIPTS JOURNAL
Sales Accounts
Date Payor Explanation OR Cash Discounts Receivable
No. DR DR F
Apr 1 Riccel Tropicales Initial Investment 001 300000
2 Sto. Nino Store Payment for SI001 002 42000
3 Laguna Appliances Downpayment for SI002 003 3620
4 Monaliza Servantes Downpayment for SI003 004 2500
12 Wilfredo Verzosa Payment for SI006 005 8529.3
15 Dela Paz Trading Downpayment for SI007 006 6027
18 Tropicales Marketing Downpayment for SI009 007 12165
20 Bernie Reyes In full of SI010 008 13247.1
24 Monaliza Servantes Payment for SI003 009 10016.33

27 Asela Tropicales Payment for SI013 010 4972.5


30 Richard Mance Collection of SI011 011 7125 375 /
410202.23 375
(100) (400)
410577.23
DR

1
OURNAL
Accounts
Receivable Cash Sales SUNDRIES
CR CR Account Name F DR CR
Riccel, Capital 300 300000
42000
3620
2500
8529.3
6027
12165
13247.1
Interest Income 403 66.33
Notes Receivable 104 9950
4972.5
7500
7500 93060.9 310016.33
(201) /
410577.23
CR
PETTY CASH VOUCHER
Office
Date Payee PCV Receipts Payments Supplies Advances
No.
April 1 Establishment of Fund 1000
1 Binan Municipality 001 20
3 Nawasa 002 250
7 Luningning Store 003 360
15 National Bookstore 004 76.4 76.4
26 Mang Cosme 005 200
26 Maria Sari Sari Store 006 274.4
TOTAL 1000 1180.8 76.4
-180.8
1000 1000

Balance -180.8
Replenish Chk #1018 630
Replenish Chk #1025 550.8
Balance 1000
Misc.
Expenses SUNDRIES
Account Name Amount

0 0
GENERAL JOURNAL
Date Particulars F DR CR
Apr 1 Accounts Payable 927
Purchase Returns and Allowances 927
Merchandise Returns

ADJUSTING ENTRIES ARE ALSO


INCLUDED IN THE GENERAL JOURNAL
RICCEL TRADING CENTER
SCHEDULE OF ACCOUNTS PAYABLE
As of April 30, 2004

Supplier Amount
San Pedro Sounds 35160
Laguna Corporation 14060
Sony Corporation 7760
LG Corporation 7200
Margas Philippines 19250
Philips Electrical 34800
TOTALS 118230
RICCEL TRADING CENTER
SCHEDULE OF ACCOUNTS RECEIVABLE
As of April 30, 2004

CUSTOMER AMOUNT
Laguna Appliances 14480
Richard Mance 17000
Filinvest Appliances 19143
Dela Paz Trading 20000
San Pedro College 12700
Wilfredo Verzosa 4069
TOTALS 87392
RICCEL TRADING CENTER
TRIAL BALANCE
AS OF APRIL 30, 2013

100 Cash 165777.72


101 Petty Cash 1000
102 Accounts Receivable 87392
103 Allowance for Doubtful Accounts
104 Notes Receivable 16682
105 Interest Receivable
106 Merchandise Inventory
107 Prepaid Rent 4500
108 Supplies Unused
109 Prepaid Insurance 508
110 Prepaid Taxes and License 315
111 Prepaid Advertising 500
120 Furnitures and Fixtures 16500
121 Accumulation Depreciation - Furnitures and Fixtures
122 Office Equipment 3555
123 Accumulation Depreciation - Office Equipment
124 Delivery Equipment 35000
125 Accumulated Depreciation - Delivery Equipment
200 Accounts Payable
201 Notes Payable
202 Interest Payable
203 ECC, Pag-ibig Payable
204 Withholding Tax Payable
205 SSS and Medicare Payable
206 Utilities Payable
207 Accrued Delivery Expense
208 Professional Fee Payable
300 Riccel, Capital
301 Riccel, Drawing 500
400 Sales
401 Sales Returns and Allowances
402 Sales Discounts 375
403 Interest Income
500 Purchases 322040.03
501 Purchase Returns and Allowances
502 Purchase Discounts
503 Freight In
504 Rent Expense
505 Taxes and Licenses
506 Advertising Expense
507 Supplies Expense 2276.4
508 Insurance Expense
509 Salaries Expense 21870
510 Utilities Expense 250
511 Delivery Expense 250
512 Doubtful Accounts Expense
513 Depreciation Expense - Furnitures and Fixtures
514 Depreciation Expense - Office Equipment
515 Depreciation Expense - Transportation Equipment
516 SSS Medicare Premiums Expense
517 ECC, Pag-ibig Expense
518 Interest Expense 77.78
519 Professional Fee Expense
520 Miscellaneous Expense 834.4
600 Income Summary
680203.33
1
118230
39330

280.6
1326.1
291.75

300000

214584.9

66.33

927
5166.65
680203.33
ADJUSTING ENTRIES GJ1
DATE PARTICULARS DR
1 Merchandise Inventory - 04/30/2004 106 184043.35
Income Summary 600
2 Taxes and Licenses 505 100
Prepaid Taxes and Licenses 110
3 Supplies Unused 108 2188.5
Supplies Expense 507
4 Interest Receivable 105 216.97
Interest Income 403
5 Interest Expense 518 360
Interest Payable 202
6 Depreciation Expense - Furnitures and Fixtures 513 247.5
Accumulated Depreciation - Furnitures and Fixtures 121
Depreciation Expense - Office Equipment 514 26.67
Accumulated Depreciation - Office Equipment 123
Depreciation Expense - Transportation Equipment 515 291.67
Accumulated Depreciation - Transportation Equipment 125
7 Doubtful Accounts Expense 512 873.92
Allowance for Doubtful Accounts 103
8 SSS Medicare Premiums Expense 516 465.2
SSS Medicare Payable 205
ECC Pag-ibig Expense 517 440
ECC Pag-ibig Payable 203
9 Insurance Expense 508 42.33
Prepaid Insurance 109
10 Delivery Expense 511 650
Accrued Delivery Expense 207
11 Utilities Expense 510 1000
Utilities Payable 206
12 Professional Fee Expense 519 1500
Professional Fee Payable 208
13 Miscellaneous Expense 520 150
Cash 100
14 Rent Expense 504 1500
Prepaid Rent 107
15 Advertising Expense 506 100
Prepaid Advertising 111
194196.11
1
CR

184043.35

100

2188.5

216.97

360

247.5

26.67

291.67

873.92

465.2

440

42.33

650

1000

1500

150

1500

100
194196.11
ASSETS

GENERAL LEDGER
CASH ACCOUNT NUMBER: 100
Date Explanation F DR Date Explanation F CR
4 30 CRJ1 410202.23 4 30 CPJ1 244424.51
165777.72
410202.23 410202.23
BALANCE 165777.72 30 Adjustments 150
165627.72
165777.72 165777.72
BALANCE 165627.72

PETTY CASH ACCOUNT NUMBER: 101


Date Explanation F DR Date Explanation F CR
4 1 CPJ1 1000

ACCOUNTS RECEIVABLE ACCOUNT NUMBER: 102


Date Explanation F DR Date Explanation F CR
4 30 SJ1 94892 4 30 CRJ1 7500
87392
94892 94892
BALANCE 87392
ALLOWANCE FOR DOUBTFUL ACCOUNTS ACCOUNT NUMBER: 103
Date Explanation F DR Date Explanation F CR
4 30 GJ1 873.92

NOTES RECEIVABLE ACCOUNT NUMBER: 104


Date Explanation F DR Date Explanation F CR
4 30 SJ1 26632 4 30 CRJ1 9950
16682
26632 26632
BALANCE 16682

INTEREST RECEIVABLE ACCOUNT NUMBER: 105


Date Explanation F DR Date Explanation F CR
4 30 GJ1 216.97 5 1 Reversing GJ3 216.97
MERCHANDISE INVENTORY ACCOUNT NUMBER: 106
Date Explanation F DR Date Explanation F CR
4 30 GJ1 184043.35

PREPAID RENT ACCOUNT NUMBER: 107


Date Explanation F DR Date Explanation F CR
4 30 CPJ1 4500 4 30 GJ1 1500
3000
4500 4500
BALANCE 3000

SUPPLIES UNUSED ACCOUNT NUMBER: 108


Date Explanation F DR Date Explanation F CR
4 30 GJ1 2188.5

PREPAID INSURANCE ACCOUNT NUMBER: 109


Date Explanation F DR Date Explanation F CR
4 7 CPJ1 508 4 30 GJ1 42.33
465.67
508 508
30 BALANCE 465.67

PREPAID TAXES AND LICENSES ACCOUNT NUMBER: 110


Date Explanation F DR Date Explanation F CR
4 1 CPJ1 315 4 30 GJ1 100
215
315 315
30 BALANCE 215

PREPAID ADVERTISING ACCOUNT NUMBER: 111


Date Explanation F DR Date Explanation F CR
4 3 CPJ1 500 4 30 GJ1 100
400
500 500
30 BALANCE 400

FURNITURES AND FIXTURES ACCOUNT NUMBER: 120


Date Explanation F DR Date Explanation F CR
4 1 Invoice # 24567 PJ1 16500
ACCUM. DEPREC. - FURNITURES AND FIXTURES ACCOUNT NUMBER: 121
Date Explanation F DR Date Explanation F CR
4 30 GJ1 247.5

OFFICE EQUIPMENT ACCOUNT NUMBER: 122


Date Explanation F DR Date Explanation F CR
4 23 CPJ1 3555

ACCUM. DEPREC. - OFFICE EQUIPMENT ACCOUNT NUMBER: 123


Date Explanation F DR Date Explanation F CR
4 30 GJ1 26.67
DELIVERY EQUIPMENT ACCOUNT NUMBER: 124
Date Explanation F DR Date Explanation F CR
4 16 CPJ1 35000

ACCUM. DEPREC. - DELIVERY EQUIPMENT ACCOUNT NUMBER: 125


Date Explanation F DR Date Explanation F CR
4 30 GJ1 291.67
LIABILITIES

GENERAL LEDGER
ACCOUNTS PAYABLE ACCOUNT NUMBER: 200
Date Explanation F DR Date Explanation
4 1 Returns GJ1 927 4 30
30 CPJ1 106213.03
107140.03
118230
225370.03
30 BALANCE

NOTES PAYABLE ACCOUNT NUMBER: 201


Date Explanation F DR Date Explanation
4 19 CPJ1 20000 4 30
39330
59330
30 BALANCE

INTEREST PAYABLE ACCOUNT NUMBER: 202


Date Explanation F DR Date Explanation
5 1 Reversing GJ3 360 4 30
ECC, PAG-IBIG PAYABLE ACCOUNT NUMBER: 203
Date Explanation F DR Date Explanation
5 1 Reversing GJ3 720.6 4 30

WITHHOLDING TAX PAYABLE ACCOUNT NUMBER: 204


Date Explanation F DR Date Explanation
4 16
30

SSS & MEDICARE PAYABLE ACCOUNT NUMBER: 205


Date Explanation F DR Date Explanation
5 1 Reversing GJ3 756.95 4 30
30
UTILITIES PAYABLE ACCOUNT NUMBER: 206
Date Explanation F DR Date Explanation
5 1 Reversing GJ3 1000 4 30

ACCRUED DELIVERY EXPENSE ACCOUNT NUMBER: 207


Date Explanation F DR Date Explanation
5 1 Reversing GJ3 650 4 30

PROFESSIONAL FEE PAYABLE ACCOUNT NUMBER: 208


Date Explanation F DR Date Explanation
5 1 Reversing GJ3 1500 4 30
CAPITAL

GENERAL LEDGER
ACCOUNT NUMBER: 200 RICCEL, CAPITAL
F CR Date Explanation F DR Date
PJ1 225370.03 4 30 GJ2 500 4

500
350972.8
225370.03 351472.8
118230

ACCOUNT NUMBER: 201 RICCEL, DRAWING


F CR Date Explanation F DR Date
PJ1 59330 4 6 CPJ1 500 4

59330
39330

ACCOUNT NUMBER: 202


F CR
GJ1 360
ACCOUNT NUMBER: 203
F CR
CPJ2 280.6
440
720.6

ACCOUNT NUMBER: 204


F CR
CPJ1 663.1
CPJ2 663
1326.1

ACCOUNT NUMBER: 205


F CR
CPJ2 291.75
GJ1 465.2
756.95
ACCOUNT NUMBER: 206
F CR
GJ1 1000

ACCOUNT NUMBER: 207


F CR
GJ1 650

ACCOUNT NUMBER: 208


F CR
GJ1 1500
APITAL REVE

RAL LEDGER GENERA


ACCOUNT NUMBER: 300 SALES
Date Explanation F CR Date Explanation
1 Investment CPJ1 300000 4 30 Closing Entries
30 Closing Entries GJ2 51472.8
351472.8

351472.8
BALANCE 350972.8

ACCOUNT NUMBER: 301 SALES RETURNS AND ALLOWANCES


Date Explanation F CR Date Explanation
30 Closing Entries GJ2 500

SALES DISCOUNTS
Date Explanation
4 30
INTEREST INCOME
Date Explanation
4 30

5 1 Reversing
REVENUES

GENERAL LEDGER
ACCOUNT NUMBER: 400 PURCHASES
F DR Date Explanation F CR Date
GJ2 214584.9 4 30 SJ1 214584.9 4 30

ALLOWANCES ACCOUNT NUMBER: 401 PURCHASE RETURNS AND


F DR Date Explanation F CR Date
4 30

ACCOUNT NUMBER: 402 PURCHASE DISCOUNTS


F DR Date Explanation F CR Date
CRJ1 375 4 30 Closing Entries GJ2 375 4 30
ACCOUNT NUMBER: 403 FREIGHT - IN
F DR Date Explanation F CR Date
GJ2 283.3 4 24 CPJ1 66.33
30 GJ1 216.97
283.3 283.3
216.97

RENT EXPENSE
Date
4 30

TAXES AND LICENSES


Date
4 30
ADVERTISING EXPENSE
Date
4 30

SUPPLIES EXPENSE
Date
4 3
30

INSURANCE EXPENSE
Date
4 30

SALARIES EXPENSE
Date
4 16
30

UTILITIES EXPENSES
Date
4 17
30

DELIVERY EXPENSES
Date
4 22
30

DOUBTFUL ACCOUNTS EXP


Date
4 30
DEPRECIATION EXPENSE -
Date
4 30

DEPRECIATION EXPENSE -
Date
4 30

DEPRECIATION EXPENSE -
Date
4 30
SSS MEDICARE PREMIUMS
Date
4 30

ECC PAG IBIG EXPENSE


Date
4 30

INTEREST EXPENSE
Date
4 19
30
PROFESSIONAL FEE EXPEN
Date
4 30

MISCELLANEOUS EXPENSE
Date
4 17
30

30

INCOME AND EXPENSE SU


Date
4 30
30
EXPENSES

GENERAL LEDGER
URCHASES ACCOUNT NUMBER: 500
Explanation F DR Date Explanation F CR
PJ1 322040.03 4 30 Closing Entries GJ2 322040.03

URCHASE RETURNS AND ALLOWANCES ACCOUNT NUMBER: 501


Explanation F DR Date Explanation F CR
Closing Entries GJ2 927 4 1 GJ1 927

URCHASE DISCOUNTS ACCOUNT NUMBER: 502


Explanation F DR Date Explanation F CR
Closing Entries GJ2 5166.67 4 30 CPJ1 5166.67
REIGHT - IN ACCOUNT NUMBER: 503
Explanation F DR Date Explanation F CR

ENT EXPENSE ACCOUNT NUMBER: 504


Explanation F DR Date Explanation F CR
Adjustments GJ1 1500 4 30 Closing Entries GJ2 1500

AXES AND LICENSES ACCOUNT NUMBER: 505


Explanation F DR Date Explanation F CR
Adjustments GJ1 100 4 30 Closing Entries GJ2 100
DVERTISING EXPENSE ACCOUNT NUMBER: 506
Explanation F DR Date Explanation F CR
Adjustments GJ1 100 4 30 Closing Entries GJ2 100

UPPLIES EXPENSE ACCOUNT NUMBER: 507


Explanation F DR Date Explanation F CR
CPJ1 2200 4 30 Adjustment GJ1 2188.5
CPJ2 76.4 87.9
2276.4 2276.4
BALANCE 87.9 4 30 Closing Entries GJ2 87.9

NSURANCE EXPENSE ACCOUNT NUMBER: 508


Explanation F DR Date Explanation F CR
Adjustments GJ1 42.33 4 30 Closing Entries GJ2 42.33

ALARIES EXPENSE ACCOUNT NUMBER: 509


Explanation F DR Date Explanation F CR
CPJ1 10935
CPJ2 10935
BALANCE 21870 4 30 Closing Entries GJ2 21870

TILITIES EXPENSES ACCOUNT NUMBER: 510


Explanation F DR Date Explanation F CR
CPJ1 250
Adjustments GJ1 1000
BALANCE 1250 4 30 Closing Entries GJ2 1250

ELIVERY EXPENSES ACCOUNT NUMBER: 511


Explanation F DR Date Explanation F CR
CPJ1 250
Adjustments GJ1 650
BALANCE 900 4 30 Closing Entries GJ2 900
5 1 Reversing GJ3 650

OUBTFUL ACCOUNTS EXPENSE ACCOUNT NUMBER: 512


Explanation F DR Date Explanation F CR
Adjustments GJ1 873.92 4 30 Closing Entries GJ2 873.92
EPRECIATION EXPENSE - FURN & FIXT ACCOUNT NUMBER: 513
Explanation F DR Date Explanation F CR
Adjustments GJ1 247.5 4 30 Closing Entries GJ2 247.5

EPRECIATION EXPENSE - OFFICE EQUIPMENT ACCOUNT NUMBER: 514


Explanation F DR Date Explanation F CR
Adjustments GJ1 26.67 4 30 Closing Entries GJ2 26.67

EPRECIATION EXPENSE - DELIVERY EQUIPT. ACCOUNT NUMBER: 515


Explanation F DR Date Explanation F CR
Adjustments GJ1 291.67 4 30 Closing Entries GJ2 291.67
SS MEDICARE PREMIUMS EXPENSE ACCOUNT NUMBER: 516
Explanation F DR Date Explanation F CR
Adjustments GJ1 465.2 4 30 Closing Entries GJ2 465.2
5 1 Reversing GJ3 465.2

CC PAG IBIG EXPENSE ACCOUNT NUMBER: 517


Explanation F DR Date Explanation F CR
Adjustments GJ1 440 4 30 Closing Entries GJ2 440
5 1 Reversing GJ3 440

NTEREST EXPENSE ACCOUNT NUMBER: 518


Explanation F DR Date Explanation F CR
CPJ1 77.78
Adjustments GJ1 360
BALANCE 437.78 4 30 Closing Entries GJ2 437.78
5 1 Reversing GJ3 360
ROFESSIONAL FEE EXPENSE ACCOUNT NUMBER: 519
Explanation F DR Date Explanation F CR
Adjustments GJ1 1500 4 30 Closing Entries GJ2 1500
5 1 Reversing GJ3 1500

MISCELLANEOUS EXPENSE ACCOUNT NUMBER: 520


Explanation F DR Date Explanation F CR
CPJ1 360
CPJ2 474.4
834.4
Adjustments GJ1 100
BALANCE 934.4 4 30 Closing Entries GJ2 934.4

NCOME AND EXPENSE SUMMARY ACCOUNT NUMBER: 600


Explanation F DR Date Explanation F CR
Cost of Goods Sold GJ2 131903.03 4 30 Net Sales GJ2 214493.2
Expenses GJ2 31117.37
163020.4
51472.8
214493.2 214493.2
RICCEL T
WORKSHEET FOR
For the Month
Unadjusted
Account Trial Balance
Number Account Titles DR CR
100 Cash 165777.72
101 Petty Cash 1000
102 Accounts Receivable 87392
103 Allowance for Doubtful Accounts
104 Notes Receivable 16682
105 Interest Receivable
106 Merchandise Inventory
107 Prepaid Rent 4500
108 Supplies Unused
109 Prepaid Insurance 508
110 Prepaid Taxes and License 315
111 Prepaid Advertising 500
120 Furnitures and Fixtures 16500
121 Accumulation Depreciation - Furnitures and Fixtures
122 Office Equipment 3555
123 Accumulation Depreciation - Office Equipment
124 Delivery Equipment 35000
125 Accumulated Depreciation - Delivery Equipment
200 Accounts Payable 118230
201 Notes Payable 39330
202 Interest Payable
203 ECC, Pag-ibig Payable 280.6
204 Withholding Tax Payable 1326.1
205 SSS and Medicare Payable 291.75
206 Utilities Payable
207 Accrued Delivery Expense
208 Professional Fee Payable
300 Riccel, Capital 300000
301 Riccel, Drawing 500
400 Sales 214584.9
401 Sales Returns and Allowances
402 Sales Discounts 375
403 Interest Income 66.33
500 Purchases 322040.03
501 Purchase Returns and Allowances 927
502 Purchase Discounts 5166.65
503 Freight In
504 Rent Expense
505 Taxes and Licenses
506 Advertising Expense
507 Supplies Expense 2276.4
508 Insurance Expense
509 Salaries Expense 21870
510 Utilities Expense 250
511 Delivery Expense 250
512 Doubtful Accounts Expense
513 Depreciation Expense - Furnitures and Fixtures
514 Depreciation Expense - Office Equipment
515 Depreciation Expense - Transportation Equipment
516 SSS Medicare Premiums Expense
517 ECC, Pag-ibig Expense
518 Interest Expense 77.78
519 Professional Fee Expense
520 Miscellaneous Expense 834.4
600 Income Summary
680203.33 680203.33
1
RICCEL TRADING CENTER
WORKSHEET FOR FINANCIAL STATEMENTS
For the Month Ended April 30, 2004

Adjustments Adjusted Income Statement Balance Sheet


DR CR DR CR DR CR DR
150 165627.72 165627.72
1000 1000
87392 87392
873.92 873.92
16682 16682
216.97 216.97 216.97
184043.35 184043.35
1500 3000 3000
2188.5 2188.5 2188.5
42.33 465.67 465.67
100 215 215
100 400 400
16500 16500
247.5 247.5
3555 3555
26.67 26.67
35000 35000
291.67 291.67
118230
39330
360 360
440 720.6
1326.1
465.2 756.95
1000 1000
650 650
1500 1500
300000
500 500
214584.9 214584.9

375 375
216.97 283.3 283.3
322040.03 322040.03
927 927
5166.65 5166.65

1500 1500 1500


100 100 100
100 100 100
2188.5 87.9 87.9
42.33 42.33 42.33
21870 21870
1000 1250 1250
650 900 900
873.92 873.92 873.92
247.5 247.5 247.5
26.67 26.67 26.67
291.67 291.67 291.67
465.2 465.2
440 440
360 437.78 437.78
1500 1500 1500
150 984.4 984.4

9247.56 10152.76 686275.26 686275.26 353532.4 405005.2


1 51472.8
405005.2 405005.2 516786.21
1 1
Post Closing
Balance Sheet Trial Balance
CR DR CR
165627.72
1000
87392
873.92 873.92
16682
216.97
184043.35
3000
2188.5
465.67
215
400
16500
247.5 247.5
3555
26.67 26.67
35000
291.67 291.67
118230 118230
39330 39330
360 360
720.6 720.6
1326.1 1326.1
756.95 756.95
1000 1000
650 650
1500 1500
300000 350972.8
51472.8
516786.21 516286.21 516286.21
1
350972.8
RICCEL TRADING CENTER
BALANCE SHEET
FOR THE MONTH ENDED APRIL 30, 2004

ASSETS
CURRENT ASSETS
Cash
Petty Cash
Accounts Receivable 87392
Allowance for Doubtful Accounts 873.92
Notes Receivable
Interest Receivable
Merchandise Inventory
Prepaid Rent
Supplies Unused
Prepaid Insurance
Prepaid Taxes and License
Prepaid Advertising

NON CURRENT ASSETS


ACCUMULATED
COST DEPRECIATION
Furnitures and Fixtures 16500 247.5
Office Equipment 3555 26.67
Delivery Equipment 35000 291.67
55055 565.84
TOTAL ASSETS

LIABILITIES AND CAPITAL


LIABILITIES
Accounts Payable
Notes Payable
Interest Payable
ECC, Pag-ibig Payable
Withholding Tax Payable
SSS and Medicare Payable
Utilities Payable
Accrued Delivery Expense
Professional Fee Payable

CAPITAL
Riccel, Capital
Net Income 51472.7999999999
Riccel, Drawing 500
TOTAL LIABILITIES AND CAPITAL
0, 2004

165627.72
1000

86518.08
16682
216.97
184043.35
3000
2188.5
465.67
215
400 460357.29

NET BOOK
VALUE
16252.5
3528.33
34708.33 54489.16

514846.45

118230
39330
360
720.6
1326.1
756.95
1000
650
1500 163873.65

300000

50972.8 350972.8
514846.45
1
RICCEL TRADING CENTER
INCOME STATEMENT
FOR THE MONTH ENDED APRIL 30, 2004

Sales
Less: Sales Discounts
Net Sales
Less: Cost of Goods Sold
Merchandise Inventory
Add: Net Cost of Purchases
Purchases
Less: Purchase Returns and Allowances 927
Purchase Discounts 5166.65
Total Goods Available for Sale
Less: Merchandise Inventory - April 30, 2004
Gross Profit
Less: Operating Expenses
Rent Expense
Taxes and Licenses
Advertising Expense
Supplies Expense
Insurance Expense
Salaries Expense
Utilities Expense
Delivery Expense
Doubtful Accounts Expense
Depreciation Expense - Furnitures and Fixtures
Depreciation Expense - Office Equipment
Depreciation Expense - Transportation Equipment
SSS Medicare Premiums Expense
ECC, Pag-ibig Expense
Professional Fee Expense
Miscellaneous Expense
Operating Profit
Other Income (Expenses)
Interest Income
Interest Expense
Net Income
NTER
NT
PRIL 30, 2004

214584.9
375
214209.9

322040.03

6093.65 315946.38
315946.38
184043.35 131903.03
82306.87

1500
100
100
87.9
42.33
21870
1250
900
873.92
247.5
26.67
291.67
465.2
440
1500
984.4 30679.59
51627.28

283.3
437.78 -154.48
51472.8
RICCEL TRADING CENTER
POST CLOSING TRIAL BALANCE
FOR THE MONTH ENDED APRIL 30, 2004

Cash
Petty Cash
Accounts Receivable
Allowance for Doubtful Accounts
Notes Receivable
Interest Receivable
Merchandise Inventory
Prepaid Rent
Supplies Unused
Prepaid Insurance
Prepaid Taxes and License
Prepaid Advertising
Furnitures and Fixtures
Accumulation Depreciation - Furnitures and Fixtures
Office Equipment
Accumulation Depreciation - Office Equipment
Delivery Equipment
Accumulated Depreciation - Delivery Equipment
Accounts Payable
Notes Payable
Interest Payable
ECC, Pag-ibig Payable
Withholding Tax Payable
SSS and Medicare Payable
Utilities Payable
Accrued Delivery Expense
Professional Fee Payable
Riccel, Capital
TOTALS
E
2004

DR CR
165627.72
1000
87392
873.92
16682
216.97
184043.35
3000
2188.5
465.67
215
400
16500
247.5
3555
26.67
35000
291.67
118230
39330
360
720.6
1326.1
756.95
1000
650
1500
350972.8
516286.21 516286.21

1
CLOSING ENTRIES GJ2

April 30 Sales 400


Interest Income 403
Sales Discounts 402
Income and Expense Summary 600
To close Interest Income and Net Sales
30 Merchandise Inventory - April 30, 2004 106
Purchase Returns and Allowances 501
Puchase Discounts 502
Income and Expense Summary 600
Purchases 500
To close Cost of Goods Sold
30 Income and Expense Summary 600
Rent Expense 504
Taxes and Licenses 505
Advertising Expense 506
Supplies Expense 507
Insurance Expense 508
Salaries Expense 509
Utilities Expense 510
Delivery Expense 511
Doubtful Accounts Expense 512
Depreciation Expenses 513-515
SSS & Medicare Premiums Expense 516
ECC Pag-ibig Expense 517
Professional Fee Expense 519
Miscellaneous Expense 520
Interest Expense 518
30 Riccel, Capital 300
Income and Expense Summary 600
To close Income and Expense Summary
30 Riccel, Capital 300
Riccel, Drawing 301
To close Drawing Account
GJ2
DR CR
214584.9
283.3
375
214493.2

184043.35
927
5166.65
131903.03
322040.03

31117.37
1500
100
100
87.9
42.33
21870
1250
900
873.92
565.84
465.2
440
1500
984.4
437.78
51472.8
51472.8

500
500
REVERSING ENTRIES GJ 3
DR
May 1 Accrued Delivery Expense 207 650
Delivery Expense 511
1 Utilities Payable 206 1000
Utilities Expense 510
1 Professional Fee Expense 208 1500
Professional Fee Payable 519
1 Interest Income 403 216.67
Interest Receivable 105
1 ECC, Pag-ibig Payable 203 440
ECC, Pag-ibig Expense 517
1 SSS and Medicare Payable 205 465.2
SSS and Medicare Premiums Expense 216
1 Interest Payable 202 360
Interest Expense 518
GJ 3
CR

650

1000

1500

216.67

440

465.2

360