BiEsEy Company

Account Balances
December 31, 2019

BiEsEy Company
Journal Entries
Jan-20

Date Account Debit

Jan-02 Cash 56,500
Accounts Receivables
3 Accounts Payable 32,000
Cash
Purchase Discounts
Input VAT
Accounts Payable 32,000
Cash
Purchase Discounts
Input Vat
6 Raw Materials Inventory 106,547.50
Input Vat 12,785.70
Accounts Payable
Raw Materials Inventory 95,131.70
Input Vat 11,415.80
Accounts Payable
6 Accounts Receivable 402,662
Sales
Output VAT
Accounts Receivable 359,520
Sales
Output VAT
7 Advertising Expense 3,000
Cash
7 Cash 391,372.80
Sales
Output VAT
Cash 349,440
Sales
Output Vat
8 Accounts Payable 119,333.20
Cash
Accounts Payable 106,547.50
Cash
9 Accounts Payable 2,350.40
Purchase Discount
Input VAT
Cash
Accounts Payable 2,350.40
 Purchase Discount
Input VAT
Cash
10 Sales Returns and Allowances 44,800
Output Vat 5376
Accounts Receivable
Sales Returns and Allowances 40,000
Output Vat 4,800
Accounts Receivable
10 Cash 344,590
Sales Discounts 7,049.72
Output Vat 846
Accounts Receivable
Cash 308,425.60
Sales Discounts 5,620
Output Vat 674.4
Accounts Receivable
11 Interest Expense 13,000
Cash
15 Direct Labor 49,542.50
Factory Overhead 84,625
Selling & Administrative Expenses 66,082.50
Cash
16 Accounts Receivable 500,506
Output Vat
Sales
Accounts Receivable 446,880
Output Vat
Sales
17 Freight-in 2,000
Input Vat 240
Cash
20 Manufacturing Supplies 9,375
Input Vat 1125
Cash
21 Raw Materials Inventory 69,949.78
Input Vat 8,393.97
Cash
21 Repairs and Maintenance 14,980
Input Vat 1797.6
Accounts Payable
22 Miscellaneous Expenses 3,125
Input Vat 375
Cash
23 Cash 489,284.67
Sales Discounts 10,020.12
Output Vat 1,201.21
Accounts Receivable
 Cash 437,942.40
Sales Discounts 7,980.00
Output Vat 957.60
Accounts Receivable
24 Raw Materials Inventory 206,728.35
Input Vat 24,807.40
Accounts Payable
25 Freight-in 2,000
Input Vat 240
Cash
27 Accounts Receivable 486,080
Sales
Output Vat
Accounts Receivable 434,000
Sales
Output Vat
28 Sales Returns and Allowances 50,400
Output Vat 6,048
Accounts Receivable
Sales Returns and Allowances 45,000
Output Vat 5,400
Accounts Receivable
29 Factory Overhead 29,220
Administrative Expenses 5,000
Cash
29 BiEsEy, Withdrawals 200,000
Cash
30 Accounts Payable 13,990.18
Input Vat 1,678.82
Purchase Returns and Allowances
31 Direct Labor 49,542.50
Factory Overhead 84,625
Selling & Administrative Expenses 66,082.50
Cash
31 Insurance Expense 8,100
Prepaid Insurance
31 Depreciation Expenses 109,000
Accumulated Depreciation Factory Building
Accumulated Depreciation Factory Equipment
Credit

56,500

30,924.80
960
115.2 EXCLUSIVE (32K*.03).12

31,040
857.14 INCLUSIVE (32k/1.12).03
102.86

119,333.20 EXCLUSIVE (106547.50*.12)

106,547.50 INCLUSIVE (106547/1.12)

359,520
43,142.40 EXCLUSIVE (359,520*.12)

321,000 INCLUSIVE (359,520/1.12)

38,520

3,000

349,440
41,932.80 EXCLUSIVE

312,000
37,440 INCLUSIVE

119,333.20 EXCLUSIVE

106,547.50 INCLUSIVE

41.97 INCLUSIVE (2350.4/1.12)2%

5.04
2,303.39
 47 EXCLUSIVE (2,350.40*2%)
5.64 47*12%
2,297.76

EXCLUSIVE 44800*.12
50,176

44800 INCLUSIVE (44800/1.12)

352,486 EXCLUSIVE

314,720 INCLUSIVE (341720/1.12)2%

13,000

200,250

53,625.60 EXCLUSIVE
446,880

47,880 INCLUSIVE
399,000

2,240

10,500 (10500/1.12).12

78,343.75 INCLUSIVE /1.12*.12

16,777.60

3,500

500,506 EXCLUSIVE
 446,880 INCLUSIVE

231,535.75 INCLUSIVE

2,240

434,000
52,080 EXCLUSIVE

387,500
46,500 INCLUSIVE

56,448 EXCLUSIVE

50,400 INCLUSIVE

34,220

200,000

15,669 INCLUSIVE

200,250

8,100

46,200
62,800