SURIGAO DEL SUR STATE UNIVERSITY

CANTILAN CAMPUS
CANTILAN, SURIGAO DEL SUR

EXTENSION SERVICES
ENHANCEMENT IN BOOKKEEPING NCIII

The account balances of K&E Marketing

are as follows, as of October 31, 2019
Transactions for the month of November, 2019:
March 1 Purchases on account, P 1,500,000. E & K Marketing
March 2 Sold merchandise on account, P 2,300,000. Trial Balance
March 15 Paid 15th month salary, P 300,000. February 28, 2017
March 16 Collected sales on March 2.
March 20 Paid purchases made on March 1. Cash 300,000.00
March 22 Sold goods for cash to various customers, P Accounts receivable 600,000.00
Merchandise inventory 450,000.00
350,000.
Prepaid supplies 5,000.00
March 23 Received sales returns, P50,000 from various
Accounts payable 100,000.00
customers. Notes payable 400,000.00
E, Capital ?

The accounts have the corresponding account number as follows: E, Capital – 301; Cash – 101; Accounts receivable –
102; Accounts payable – 201; Purchases – 501; Sales – 401; Sales returns and allowances – 402; Salaries expense –
502; Supplies expense – 503; Merchandise inventory – 103; Notes payable – 202; Prepaid supplies – 104
Requirements:
1. Make a chart of accounts.
2. Journalize the above transactions during November 2019
3. Post the journal entries to the ledger.
4. Prepare a trial balance
5. Make financial reports.

Chart of accounts
Account No. Account name

Journalize here.
Instruction. Post the accounts in your Ledger.
For 3 column ledger
Account Number:
Account Name:
Date Explanation Debit Credit Balance

For 2 column ledger

Account Number:
Account Name:
Date Explanation Debit Date Explanation Credit

Post the balances in the trial balance.

Worksheet
Unadjusted trial balance
Account title Debit Credit

Total

Prepared by:
KIMBERLY R. LAPAZ
Ps 23:6 Surely goodness and mercy will follow me all the days of my life