Make a copy and your filename format (Last Name, First Name).

The ledger accounts of the BSA Company as of November 30, 2020 are as follows:
Number Account Title Debit Credit
111 Cash 72,000
112 Accounts Receivable
113 Merchandise Inventory 598,000
114 Office Supplies 12,000
115 Prepaid Advertising
116 Prepaid Insurance
121 Land 400,000
123 Office Building 1,600,000
124 Accumulated Depreciation - Office Building 100,000
125 Office Equipment 570,000
126 Accumulated Depreciation - Office Equipment 142,000
211 Accounts Payable
212 Salaries Payable
221 Mortgage Payable 1,100,000
222 Notes Payable, due in 2 years 400,000
301 BSA, Capital 1,510,000
302 BSA, Withdrawals
303 Income Summary
401 Purchases
402 Purchase Discounts
403 Purchase Returns and Allowances
404 Transportation In
501 Sales
502 Sales Discounts
503 Sales Returns and Allowances
601 Salaries Expense
602 Travel Expense
603 Advertising Expense
604 Insurance Expense
605 Depreciation Expense - Office Building
606 Depreciation Expense - Office Equipment
607 Office Supplies Expense
610 Interest Expense
Totals 3,252,000 3,252,000

1-Dec Paid 48,000 on property insurance covering Dec. 1, 2020 to Dec. 1, 2021, Check No. 001.
1-Dec Cash Sales to Karen Marie Maniquiz Company, P600,000 less 5% cash discount; FOB shipping point, , Invoice 1201, Official Receipt 1201.
4-Dec Paid three (3) month advertisement P75,000, Check No. 002.
7-Dec Purchased merchandise on account from Val Paulo Sales Company, P520,000, FOB shipping point; terms 4/7. n/30; Inv. 509.
8-Dec Paid P14,000 to Aaron James Palileo Trucking Services for the freight on purchase of merchandise; Inv. 102, Check No. 003.
8-Dec Purchased office supplies on cash P20,000; Check No. 004
8-Dec Cash Sales to Mary Rose Babala Company, P700,000 less 5% cash discount; FOB shipping point,Invoice 1202, Official Receipt 1202.
11-Dec Purchased merchandise on account from Xezarajjah Villanueva Company, P530,000, FOB shipping point; terms 4/7, n/30; Inv. 607.
12-Dec Paid P14,000 to Merven Edd Solidum Freight Services for the freight on purchase of merchandise; Inv. 505, Check No. 005.
11-Dec Sold on account to Kamille Marie Guillermo Company, P650,000; FOB shipping point, 4/7, n/30, Invoice 1203.
14-Dec Paid in full Val Paulo Sales Company, Check No. 006.
14-Dec Paid P100,000 to the owner for various business travel expenses, Check No. 007.
15-Dec Paid salaries covering Dec 1-15, 2020, P450,000, Check No. 008.
18-Dec Purchased merchandise on account from Rolan Michael Yu Company P410,000, FOB shipping point; 4/7, n/30; Inv. 915.
18-Dec Paid in full Xezarajjah Villanueva Company, Check No. 009.
18-Dec Sold on account to Karen Marie Maniquiz Company, P750,000; FOB shipping point, 4/7, n/30; Invoice 1204.
18-Dec Received from Kamille Marie Guillermo Company on Invoice 1203. in full, Official Receipt 1203.
21-Dec Paid P13,000 to Sedrick Pablo Hauling Services for the freight on purchase of merchandise; Inv. 410, Check No. 010.
22-Dec Purchased merchandise on account from Val Paulo Sales Company, P550,000, FOB shipping point; 4/7, n/30; Inv. 524.
23-Dec Paid P14,000 to Aaron James Palileo Trucking Services for the freight on purchase of merchandise; Inv. 117, Check No. 011.
23-Dec Purchased office supplies on account from Malolos Office Supplies, P10,000; Inv. 118.
23-Dec Sold merchandise on account to Mary Rose Babala Company, P700,000, FOB shipping point, 4/7, n/30; Invoice 1205.
23-Dec Returned P185,000 from Karen Marie Maniquiz Company; credit memo 1202.
24-Dec Returned P135,000 to Val Paulo Sales Company, Debit Memo 103.
24-Dec Paid in full Rolan Michael Yu Company, Check No. 012,
24-Dec Sold on account Kamille Marie Guillermo Company, P750,000; FOB shipping point, 4/7, n/30, Invoice. 1206.
24-Dec Received from Karen Marie Maniquiz amount due on Invoice No. 1204, less returns and discounts; Official Receipt 1204.
28-Dec Purchased merchandise on account from Xezarajjah Villanueva Company, P650,000 FOB shipping point, 4/7, n/30; Inv. 622.
28-Dec Paid P15,000 on interest on mortage and note payable, Check No. 013.
29-Dec Paid P15,000 to Merven Edd Solidum Freight Services for the freight on purchase of merchandise; Inv. 520, Check No. 014.
29-Dec Paid in full Val Paulo Sales Company, Check No. 015.
29-Dec The owner withdrew P200,000 for personal use, Check No. 016.
29-Dec Received from Mary Rose Babala Company on Invoice 1205, Official Receipt No. 1205.
29-Dec Kamille Marie Guillermo made partial payment P600,000, less discount, on Invoice 1206.
29-Dec Paid salaries covering Dec 16-31, 2020, P432,000, Check No. 017.
29-Dec Paid P85,000 to the owner for various business travel expenses, Check No. 018.
31-Dec Unused office supplies on hand is P17,000.
31-Dec Advertisement of P25,000 has expired in December.
31-Dec Accrued salaries is P18,000.
31-Dec Depreciation on office buildi9ng and office equipment amounted to P1,250 and P3,500, respectively.
31-Dec The merchandise inventory at Dec. 31, 2020 is P725,000.
31-Dec One month insurance has expired.

Requirement:
1. Record the December transactions using appropriate special journals and general journal.
2. Prepare the financial statements:
a. Statement of Comprehensive Income, for the month-ended Dec. 31, 2020.
b. Statement of Changes in Owner's Equity for the month-ended Dec. 31, 2020.
c. Statement of Financial Position as of December 31, 2020.
d. Statement of Cash Flows for the month ended Dec. 31, 2020.

Substantially Complete and Significantly incomplete and

Rubrics: Your score Complete and Correct Correct incorrect No work done
Sales Journal 4 2 1 0
Cash Receipts Journal 4 2 1 0
Purchase Journal 4 2 1 0
Cash Disbursement Journal 4 2 1 0
General Journal 4 2 1 0
General Ledger, 1 point for every correct account balance; 30
except Capital
Statement of Comprehensive Income 5 3 1 0
Statement of Changes in Owner's Equity 5 3 1 0
Statement of Financial Position 5 3 1 0
Statement of Cash Flows 5 3 1 0
Total 0 70
Passing score (75%) 53
Date Invoice No. Account Debited P/R
11 1203 Accounts Receivable
18 1204 Accounts Receivable
18 Accounts Receivable
Accounts Receivable
Total
Debit Accounts Receivable;
Credit Sales
650,000.00
750,000.00

1,400,000.00
Date R.R. No. Account Credited P/R
7 Accounts Payable
11 Accounts Payable
18 Accounts Payable
Accounts Payable
Accounts Payable
Accounts Payable
Credit Accounts
Payable Debit Purchase Other Accounts P/R
520,000.00 520,000.00
530,000.00 530,000.00
410,000.00 410,000.00

1,460,000.00 1,460,000.00
Amount
Date OR No.
1 1201
8 1202
1203
1204
1205
1206
 Debit Sales
Description Debit Cash Discount
Cash Sales 570,000.00 30,000.00
Cash Sales 665,000.00 35,000.00

Total 1,235,000.00 65,000.00

 Credit
Accounts Other
Receivable Credit Sales Accounts P/R Amount
600,000.00
700,000.00

0.00 1,300,000.00
Date Chk No. Description
1 1 Prepaid Insurance
4 2 Prepaid Advertising
8 3 Transportation-in
8 4 Office Supplies
12 5 Transportation-in
14 6 Payable
14 7 Travel Expenses
15 8 Salaries Expenses
18 9 Payable
10
11
12
13
14
15
16
17
18
Total
 Credit Purchase Debit Accounts
Credit Cash Discounts Payable Debit Purchases
48,000.00
75,000.00
14,000.00
20,000.00
14,000.00
499,200.00 20,800.00 520,000.00
100,000.00
450,000.00
508,800.00 21,200.00 530,000.00

1,729,000.00 42,000.00 1,050,000.00 0.00

 Debit
Transportation In Other Accounts P/R Amount
48000
75000
14,000.00
20000
14,000.00

100000
450000

28,000.00
 Customer Name Date Document
Customer No. 1

Customer No. 2

Customer No. 3

Customer No. 4

Supplier Name Date Document

Vendor No. 1

Vendor No. 2

Vendor No. 3

Vendor No. 4
P/R Debit Credit Balance 0.00
0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00

P/R Debit Credit Balance 0.00

0.00
0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00

0.00
0.00
0.00
0.00 0.00
Date Description
P/R Debit Credit
Account Number Account Title Date
111 Cash 30-Nov

112 Accounts Receivable

113 Merchandise Inventory 30-Nov

114 Office Supplies 30-Nov

115 Prepaid Advertisding

116 Prepaid Insurance

121 Land 30-Nov

123 Office Building 30-Nov

124 Accumulated Depreciation - Office Building 30-Nov

125 Office Equipment 30-Nov

126 Accumulated Depreciation - Office Equipment 30-Nov

211 Accounts Payable

212 Salaries Payable

221 Mortgage Payable 30-Nov

222 Notes Payable, Due in 2 years 30-Nov

301 BSA, Capital 30-Nov

302 BSA, Withdrawals

303 Income Summary

401 Purchases

402 Purchases Discounts

403 Purchases Returns and Allowances

404 Transportation In

501 Sales

502 Sales Discounts

503 Sales Returns and Allowances

601 Salaries Expense

602 Travel Expense

603 Advertising Expense

604 Insurance Expense

605 Depreciation Expense - Office Building

606 Depreciation Expense - Office Equipment

607 Office Supplies Expense

610 Interest Expense

 Description P/R Debit Credit Balance
Balance 72,000.00 72,000.00
72,000.00
72,000.00
72,000.00

0.00
0.00
0.00
0.00

Balance 598,000 598,000.00

598,000.00
598,000.00
598,000.00

Balance 12,000.00 12,000.00

12,000.00
12,000.00
12,000.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

Balance 400,000.00 400,000.00

400,000.00
400,000.00
400,000.00

Balance 1,600,000 1,600,000.00

1,600,000.00
1,600,000.00
1,600,000.00

Balance 100,000.00 -100,000.00

-100,000.00
-100,000.00
 -100,000.00

Balance 570,000 570,000.00

570,000.00
570,000.00
570,000.00

Balance 142,000 -142,000.00

-142,000.00
-142,000.00
-142,000.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

Balance 1,100,000 -1,100,000.00

-1,100,000.00
-1,100,000.00
-1,100,000.00

Balance 400,000 -400,000.00

-400,000.00
-400,000.00
-400,000.00

Balance 1,510,000 -1,510,000.00

-1,510,000.00
-1,510,000.00
-1,510,000.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00
0.00
check SL Check
0.00

72,000.00

0.00 0.00 0.00

598,000.00

12,000.00

0.00

0.00

400,000.00

1,600,000.00
 -100,000.00

570,000.00

-142,000.00

0.00 0.00 0.00

0.00

-1,100,000.00

-400,000.00

-1,510,000.00

0.00

0.00
0.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00
0.00

0.00

0.00

0.00

0.00

0.00

0.00
Statement of Comprehensive Income
Statement of Changes in Owner's Equity
Statement of Financial Position
Statement of Cash Flows

BSA Company
Statement of Comprehensive Income
For the Month Ended December 31, 2020

Revenue:
Gross Sales
Less: Sales Discounts
Sales Returns
Net Sales

Less Cost of Sales:

Gross Purchases
Less: Purchases Discount
Purchases Returns and Allowances
Net Purchases
Add Transportation In
Net Cost of Purchases
Add Merchandise Inventory, Nov. 30, 2020
Goods Available for Sale
Less Merchandise Inventory, Dec. 31, 2020
Cost of Sales

Gross Profit
Less Expenses:
Salaries
Travel
Advertising
Office Supplies
Interest
Insurance
Depreciation - Office Equipment
Depreciation - Office Building
Total Operating Expenses

Net Profit
 BSA Company
Statement of Changes in Owner's Equity
For the Month Ended December 31, 2020

Capital, Nov. 30, 2020

Add Profit during December
Balance
Less Withdrawals during December
Capital, Dec. 31, 2020
 BSA Company
Statement of Financial Position
Decmeber 31, 2020
Assets
Current Assets:
Cash
Accounts Receivable
Merchandise Inventory
Office Supplies
Prepaid Advertising
Prepaid Insurance
Total current Assets
Non-current assets:
Land
Office Building
Accumulated Depreciation - Office Building
Office Equipment
Accumulated Depreciation - Office Equipment
Total non-current assets
Total Assets
Liabilities
Current Liabilities:
Accounts Payable
Salaries Payable
Total current liabilities
Non-current liabilities:
Mortgage Payable
Notes Payable, due in 2 years
Total non-current liabilities
Total Liabilities
Owner's Equity
BSA, Capital
Total Liabilities and Owner's Equity
ition BSA Company
Statement of Cash Flows
For the Month Ended December 31, 202

Cash flows from operating activities:

Cash flows from investing activities:

Cash flows from financing activities:

Net Change in cash

Add
Cash, December 31, 2020

₱0.00
 BSA Company
Statement of Cash Flows
For the Month Ended December 31, 2020

Cash flows from operating activities:

Collections from customers
Payment to suppliers of merchandise and freight
Payments for employees
Payments for travel expenses
Payments for advertisement
Payment for office supplies
Payment for insurance
Payment for interest
Net cash inflows from operating activities

Cash flows from investing activities:

Cash flows from financing activities:

Withdrawals during December

Net Change in cash

Cash, Nov. 30, 2020
Cash, December 31, 2020