THOR GENERAL MERCHANDISE

TRIAL BALANCE

SEPTEMBER 30, 2017

Account Title Debit Credit

Cash 2,142,750
Accounts Receivables 99,190
Accounts Payable 885,450
Thor, Capital 1,356,490
Total P 2,241,940 P 2,241,940

Mr. MALAYA owned a business named THOR GENERAL MERCHANDISE and had the following
transactions for the month of October, 2017

Oct. 1 Malaya Received an inheritance from DINA KULUNGAN worth 1,500,000 and invest 75% of
which in the business.

*Accounts Receivable 1,500,000

Dina Kulungan, Capital 1,500,000

Oct. 5 Purchased furniture and fixtures to be used for office use worth P 86,400 on account.

*Furniture and Fixtures 86,400

Accounts Payable 86,400

Oct. 7 Purchased P 97, 000 worth of goods from REHAS Inc. on account, with terms4/10, 3/15, 2/25,
n/30, and Paid Freight worth P 2,450.

*Purchases 97,000

Freight in Charges 2,450

Accounts Payable 99,450

Oct. 9 Sold goods to PRISON Management worth P 521,400. Terms 2/10, 1/20, n/30

Accounts Receivables 521,400

Sales 521,400

Oct. 11 Prison founded out that P89,580 worth of goods bought from MALAYA were defective and
returned it.

Sales Return and Allowances 89,580

AR 89,580

ADDITIONAL INFO: Merchandise inventory at the end of the period is assumed to be amounted to P
58,600
Oct. 14 The said defective goods were received by MALAYA. The cost of which is P42,000 which he also
returned to REHAS Inc.

Accounts Payable 42,000

Purchases Returns and Allowances 42,000

Oct. 16 Paid the following expense: salaries- P41,300, Utilities-P63, 700 and Advertising P75,400

Salaries and Wages 41,300

Utilities Expense 63,700

Advertising 75,400

Accounts Payable 180,400

Oct. 19 Sold Merchandise to TAKAS Management, P280,400 in cash.

Cash 280,400

Sales 280,400

Oct. 19 Collected 45% from Prison’s account.

Accounts Receivable 229,937.4

Sales Discount 4,692.6

Sales 234,630

Oct.21 Purchased Merchandise worth P65, 800 in cash.

Purchases 65,800

Cash 65,800

Oct. 21 Paid REHAS Inc. of its account.

Oct. 23 Bought Office Supplies and used right away in cash, P 8,500

Office Supplies 8,500

Cash 8,500

Oct. 24 Thor has taken P 25,445 in the business.

Thor Capital 25,445

Thor, Drawings 25,445

Oct. 27 Purchased goods worth P 112, 200

Purchases 112,200

ADDITIONAL INFO: Merchandise inventory at the end of the period is assumed to be amounted to P
58,600
 Accounts Payable 112,200

Oct. 31 Sold goods to KULUNGAN notice that P27,900 of the said goods were defective and returned the
items to THO

Accounts Payable 27,900

Purchases Returns and Allowances 27,900

ADDITIONAL INFO: Merchandise inventory at the end of the period is assumed to be amounted to P
58,600