BIDA-TECH Company

Chart of Accounts

Cash 100
Accounts Receivable 105
Allowance for Bad Debts 105-A
Subscriptions Receivable 109
Merchandise Inventory 110
Prepaid Insurance 115
Prepaid Income Tax 116-A
Deferred Input Tax 116-B
Office Supplies 117
Store Supplies 118
Prepaid Advertising Expense 119
Rent Deposit 120
Office Furniture and Fixtures 140
Accumulated Depreciation-Off. Furn. & Fixtures 140-A
Store Furniture and Fixtures 141
Accumulated Depreciation-Store Furn. & Fixtures 141-A
Office Equipment 145
Accumulated Depreciation-Store Furn. & Fixtures 145-A
Store Equipment 150
Accumulated Depreciation-Store Equipment 150-A
Accounts Payable 200
Salaries Payable 201
Accrued Expenses 202
Interest Payable 203
SSS Premiums Payable 207
Philhealth Premiums Payable 208
Pag-IBIG Premiums Payable 209
VAT Payable 210
Income Tax Withheld 211
Withholding Tax on Compensation 212
Income Tax Payable 213
Notes Payable 214
Ordinary Share Capital 300
Subscribed Share Capital 301
Share Premium 302
Retained Earnings 306
Income Summary 310
Sales 400
Sales Returns and Allowances 401
Sales Discounts 402
Output Tax 403
Purchases 500
Purchases Returns and Allowances 501
Purchases Discounts 502
Freight In 504
Input Tax 505
Salaries Expense 600
SSS Premiums Expense 601
PhilHealth Premiums Expense 602
Pag-IBIG Premiums Expense 603
Rent Expense 604
Insurance Expense 605
Office Supplies Expense 606
Store Supplies Expense 607
Depreciation Expense-Office Furn. & Fixtures 608
Depreciation Expense-Store Furn. & Fixtures 609
Depreciation Expense-Office Equipment 610
Depreciation Expense-Store Equipment 611
Advertising Expense 612
Utilities Expense 613
Interest Expense 614
Taxes and Licenses 615
Bad Debts Expense 616
Income Tax Expense 617
 BIDA-TECH Company
Chart of Accounts

100 Cash 300

105 Accounts Receivable 301
105-A Allowance for Bad Debts 302
109 Subscriptions Receivable 306
110 Merchandise Inventory 310
115 Prepaid Insurance 400
116-A Prepaid Income Tax 401
116-B Deferred Input Tax 402
117 Office Supplies 403
118 Store Supplies 500
119 Prepaid Advertising Expense 501
120 Rent Deposit 502
140 Office Furniture and Fixtures 504
140-A Accum. Depreciation-Off. Furn. & Fixtures 505
141 Store Furniture and Fixtures 600
141-A Accum. Depreciation-Store Furn. & Fixtures 601
145 Office Equipment 602
145-A Accum. Depreciation-Office Equipment 603
150 Store Equipment 604
150-A Accum. Depreciation-Store Equipment 605
200 Accounts Payable 606
201 Salaries Payable 607
202 Accrued Expenses 608
203 Interest Payable 609
207 SSS Premium Payable 610
208 Philhealth Premium Payable 611
209 Pag-IBIG Premium Payable 612
210 VAT Payable 613
211 Income Tax Withheld 614
212 Withholding Tax on Compensation 615
213 Income Tax Payable 616
214 Notes Payable 617
CH Company
f Accounts

Ordinary Share Capital

Subscribed Share
Share Premium
Retained Earnings
Income Summary
Sales
Sales Returns and Allowances
Sales Discounts
Output Tax
Purchases
Purchases Returns and Allowances
Purchases Discounts
Freight In
Input Tax
Salaries Expense
SSS Employer Share Expense
PhilHealth Employer Share Expense
PagIbig Employer Share Expense
Rent Expense
Insurance Expense
Office Supplies Expense
Store Supplies Expense
Depreciation Expense-Office Furn. & Fixtures
Depreciation Expense-Store Furn. & Fixtures
Depreciation Expense-Office Equipment
Depreciation Expense-Store Equipment
Advertising Expense
Utilities Expense
Interest Expense
Taxes and Licenses
Bad Debts Expense
Income Tax Expense
 Hi-Tech Corporation
Trial Balance
30-Nov-20

Acct No. Account Name Debit Credit

100 Cash 1,352,670.80
105 Accounts Receivable 235,200.00
110 Merchandise Inventory 600,000.00
115 Prepaid Insurance 240,000.00
116-A Prepaid Income Tax 11,200.00
120 Rent Deposit 450,000.00
117 Office Supplies 145,600.00
118 Store Supplies 123,200.00
140 Office Furniture and Fixtures 200,000.00
141 Store Furniture and Fixtures 250,000.00
145 Office Equipment 300,000.00
150 Store Equipment 480,000.00
214 Notes Payable 400,000.00
200 Accounts Payable 145,600.00
210 VAT Payable 58,338.00
211 Income Tax Withheld 14,950.00
212 Withholding Tax on Compensation 1,666.80
207 SSS Premiums Payable 12,780.00
208 Philhealth Premiums Payable 3,480.00
209 Pag-IBIG Premiums Payable 1,200.00
300 Ordinary Share Capital 3,000,000.00
400 Sales 9,400,000.00
401 Sales Returns and Allowances 65,000.00
402 Sales Discounts 38,024.00
500 Purchases 5,950,000.00
501 Purchases Returns and Allowances 12,000.00
502 Purchases Discounts 36,000.00
504 Freight In 68,000.00
600 Salaries Expense 1,320,000.00
601 SSS Premiums Expense 94,380.00
602 PhilHealth Premiums Expense 19,140.00
603 Pag-IBIG Premiums Expense 6,600.00
604 Rent Expense 825,000.00
612 Advertising Expense 150,000.00
613 Utilities Expense 110,000.00
615 Taxes and Licenses 52,000.00
Totals 13,086,014.80 13,086,014.80
 BIDA-TECH COMP
Worksheet
For the Year ended Decem

Account Unadjusted Trial Balance

No. Account Name Debit Credit
100 Cash 1,665,699.80
105 Accounts Receivable 369,600.00
109 Subscriptions Receivable 82,500.00
110 Merchandise Inventory 600,000.00
115 Prepaid Insurance 240,000.00
116-A Prepaid Income Tax 22,980.00
117 Office Supplies 180,600.00
118 Store Supplies 153,200.00
120 Rent Deposit 450,000.00
140 Office Furniture and Fixtures 200,000.00
141 Store Furniture and Fixtures 250,000.00
145 Office Equipment 300,000.00
150 Store Equipment 480,000.00
214 Notes Payable 400,000.00
200 Accounts Payable 789,600.00
202 Accrued Expenses 10,500.00
210 VAT Payable -
211 Income Tax Withheld 16,457.00
212 Withholding Tax on Compensation 1,866.80
207 SSS Premiums Payable 4,200.00
208 Philhealth Premiums Payable 1,740.00
209 Pag-IBIG Premiums Payable 600.00
300 Ordinary Share Capital 3,000,000.00
301 Subscribed Share Capital 150,000.00
302 Share Premium 15,000.00
400 Sales 11,490,000.00
401 Sales Returns and Allowances 105,000.00
402 Sales Discounts 50,024.00
403 Output tax 246,000.00
500 Purchases 7,870,000.00
501 Purchases Returns and Allowances 47,000.00
502 Purchases Discounts 75,300.00
504 Freight In 85,000.00
505 Input tax 245,040.00
600 Salaries Expense 1,556,000.00
601 SSS Premiums Expense 94,380.00
602 PhilHealth Premiums Expense 19,140.00
603 Pag-IBIG Premiums Expense 6,600.00
604 Rent Expense 900,000.00
 612 Advertising Expense 150,000.00
613 Utilities Expense 120,500.00
615 Taxes and Licenses 52,000.00
Totals 16,248,263.80 16,248,263.80

616 Bad Debts Expense

105-A Allowance for Bad Debts
606 Office Supplies Expense
607 Store Supplies Expense
605 Insurance Expense
608 Depreciation Expense-Office Furn. & Fixtures
609 Depreciation Expense-Store Furn. & Fixtures
610 Depreciation Expense-Office Equipment
611 Depreciation Expense-Store Equipment
140-A Accumulated Depreciation-Off. Furn. & Fixtures
141-A Accumulated Depreciation-Store Furn. & Fixtures
141-A Accumulated Depreciation-Store Furn. & Fixtures
150-A Accumulated Depreciation-Store Equipment
119 Prepaid Advertising Expense
614 Interest Expense
203 Interest Payable
Totals/Sub-totals
Income Before Tax
Totals
 BIDA-TECH COMPANY
Worksheet
For the Year ended December 31, 2020

Adjustments Adjusted Trial Balance Income Statement

Debit Credit Debit Credit Debit Credit
1,665,699.80
369,600.00
82,500.00
600,000.00 600,000.00 880,000.00
120,000.00 120,000.00
22,980.00
144,480.00 36,120.00
107,240.00 45,960.00
450,000.00
200,000.00
250,000.00
300,000.00
480,000.00
400,000.00
789,600.00
10,500.00
960.00 960.00
16,457.00
1,866.80
8,580.00 12,780.00
1,740.00 3,480.00
600.00 1,200.00
3,000,000.00
150,000.00
15,000.00
11,490,000.00 11,490,000.00
105,000.00 105,000.00
50,024.00 50,024.00
246,000.00 - -
7,870,000.00 7,870,000.00
47,000.00 - 47,000.00
75,300.00 - 75,300.00
85,000.00 85,000.00 -
245,040.00 - - -
1,556,000.00 1,556,000.00 -
8,580.00 102,960.00 102,960.00 -
1,740.00 20,880.00 20,880.00 -
600.00 7,200.00 7,200.00 -
900,000.00 900,000.00 -
 50,000.00 100,000.00 100,000.00 -
120,500.00 120,500.00 -
52,000.00 52,000.00 -
- -
- -
18,480.00 18,480.00 18,480.00 -
18,480.00 18,480.00 -
144,480.00 144,480.00 144,480.00 -
107,240.00 107,240.00 107,240.00 -
120,000.00 120,000.00 120,000.00 -
40,000.00 40,000.00 40,000.00 -
50,000.00 50,000.00 50,000.00 -
30,000.00 30,000.00 30,000.00 -
48,000.00 48,000.00 48,000.00 -
40,000.00 40,000.00 -
50,000.00 50,000.00 -
30,000.00 30,000.00 -
48,000.00 48,000.00 -
50,000.00 50,000.00 -
16,000.00 16,000.00 16,000.00 -
16,000.00 16,000.00 -
881,120.00 881,120.00 16,216,623.80 16,216,623.80 12,143,764.00 12,492,300.00
348,536.00
12,492,300.00 12,492,300.00
Statement of Financial Position
Debit Credit
1,665,699.80
369,600.00
82,500.00
880,000.00
120,000.00
22,980.00
36,120.00
45,960.00
450,000.00
200,000.00
250,000.00
300,000.00
480,000.00
400,000.00
789,600.00
10,500.00
960.00
16,457.00
1,866.80
12,780.00
3,480.00
1,200.00
3,000,000.00
150,000.00
15,000.00
 18,480.00

40,000.00
50,000.00
30,000.00
48,000.00
50,000.00

16,000.00
4,952,859.80 4,604,323.80
348,536.00
4,952,859.80 4,952,859.80
-
 BIDA-TECH COMPANY
Purchases Journal

Debits Credit
Voucher
Date Inv. No. Name of Creditor No. Purchases Input Tax Accounts Payable

3-Dec 0987 E-Trading 1865 400,000.00 48,000.00 448,000.00

3-Dec 10812 Samsung 1866 350,000.00 42,000.00 392,000.00
9-Dec 3546 Arenas Trading 1867 450,000.00 54,000.00 504,000.00
22-Dec 1234 Avery Computers 1868 450,000.00 54,000.00 504,000.00
30-Dec 11098 Samsung 1869 270,000.00 32,400.00 302,400.00
Totals 1,920,000.00 230,400.00 2,150,400.00

Purchases 1,920,000.00
Input Tax 230,400.00
Accounts Payable 2,150,400.00
5
 BIDA-TECH COMPANY
General Journal

Page 10
Date Account Titles and Explanation PR Debit Credit
Dec. 8 Accounts Payable 22,400.00
Purchases Returns and Allowances 20,000.00
Input Tax 2,400.00
Credit memo 0188-Samsung

13 Sales Returns and Allowances 25,000.00

Output Tax 3,000.00
Accounts Receivable 28,000.00
Credit memo 0005- I-Bank

29 Accounts Payable 16,800.00

Purchases Returns and Allowances 15,000.00
Input Tax 1,800.00
Credit memo 0101-Avery Computers

31 Utilities Expense 10,500.00

Accrued Expenses 10,500.00
 BIDA-TECH COMPANY
Cash Receipts Journal

Debits
Date OR No. Payor/Description Prepaid Income Accounts
Cash Sales Discounts
Tax Receivable
3-Dec 0078 Ola Trading 228,942.00 4,200.00 2,058.00 235,200.00
11-Dec 0079 Brandon 261,648.00 4,800.00 2,352.00 268,800.00
12-Dec 0080 UA 163,530.00 3,000.00 1,470.00 168,000.00
13-Dec 0081 Cash Sales 50,400.00
14-Dec 0082 St. Anne Academy 277,500.00 2,500.00 280,000.00
17-Dec 0083 Cash Sales 201,600.00
20-Dec 0084 St. Anne Academy 277,500.00 2,500.00 280,000.00
20-Dec 0085 Cash Sales 392,000.00
20-Dec 0086 Subscriber 82,500.00

23-Dec 0087 I-Bank 99,900.00 900.00 100,800.00

29-Dec 0088 Cash Sales 201,600.00
Totals 2,237,120.00 12,000.00 11,780.00 1,332,800.00

Cash 2,237,120.00
Sales Discounts 12,000.00
Prepaid Income 11,780.00
Subscriptions Re 82,500.00
Accounts Receivable 1,332,800.00
Output Tax 90,600.00
Sales 755,000.00
Subscribed Share Capital 150,000.00
Share Premium 15,000.00
MPANY
Journal

Credits
Other Accounts PR Amount
Output Tax Sales

5,400.00 45,000.00

21,600.00 180,000.00

42,000.00 350,000.00
Subscribed Share Capital 150,000.00
Subscriptions Receivable (82,500.00)
Share Premium 15,000.00

21,600.00 180,000.00
90,600.00 755,000.00 - - 82,500.00
 BIDA-TECH COMPANY
Cash Disbursements Journal

Debit Credits
Chk. Voucher
Date Payee PR Accounts
No. Number
Payable Purchase Discount
4-Dec 133 LBC 1870

6-Dec 0134 LBC 1871

8-Dec 0135 Avery Computers 1864 145,600.00 3,900.00

9-Dec 0136 BIR 1872
9-Dec 0137 BIR 1873
9-Dec 0138 SSS 1874
9-Dec 0139 Philhealth 1875
9-Dec 0140 Pag Ibig 1876
10-Dec 0141 LBC 1877

12-Dec 0142 E-Trading 1865 448,000.00 12,000.00

0143 Samsung 1866 369,600.00 9,900.00
15-Dec 0144 Cash 1878

17-Dec 0145 1879

18-Dec 0146 Arenas Trading 1867 504,000.00 13,500.00

19-Dec 0147 1880
23-Dec 0148 1881

23-Dec 0149 1882

27-Dec 0150 1883

30-Dec 0151 1884

30-Dec 0152 1885

Totals 1,467,200.00 39,300.00

Accounts Payabl 1,467,200.00

Freight In 17,000.00
Income Tax Wit 11,200.00
Input Tax 18,840.00
 Office Supplies 35,000.00
Output Tax 1,800.00
Pag-IBIG Prem. 600.00
Philhealth Prem. 1,740.00
Rent Expense 75,000.00
Salaries 236,000.00
Sales Returns & 15,000.00
SSS Premiums P 8,580.00
Store Supplies 30,000.00
VAT Payable 58,338.00
Purchase Discount
Income tax Withheld
Cash
Withholding Tax on Comp.
DA-TECH COMPANY
Disbursements Journal

Credits Other Accounts - Debit

Income tax Account Title PR Amount
Cash
Withheld
6,720.00 Freight In 6,000.00
Input Tax 720.00
7,840.00 Freight In 7,000.00
Input Tax 840.00
1,261.00 140,439.00
14,950.00 Income Tax Withheld 14,950.00
1,666.80 Withholding Tax on Comp. 1,666.80
12,780.00 SSS Premiums Payable 12,780.00
3,480.00 Philhealth Prem. Payable 3,480.00
1,200.00 Pag-IBIG Prem. Payable 1,200.00
4,480.00 Freight In 4,000.00
Input Tax 480.00
3,880.00 432,120.00
3,201.00 356,499.00
55,800.00 Salaries 60,000.00
SSS Premiums Payable (4,200.00)
16,800.00 Sales Returns & Allow. 15,000.00
Output Tax 1,800.00
4,365.00 486,135.00
58,338.00 VAT Payable 58,338.00
33,600.00 Store Supplies 30,000.00
Input Tax 3,600.00
116,000.00 Salaries 116,000.00
39,200.00 Office Supplies 35,000.00
Input Tax 4,200.00
55,793.20 Salaries 60,000.00
Withholding Tax on Comp. (1,866.80) adjusted Ling
Philhealth Prem. Payable (1,740.00) Habayusa
Pag-IBIG Prem. Payable (600.00)
80,250.00 Rent Expense 75,000.00
Input Tax 9,000.00
Income Tax Withheld (3,750.00)

12,707.00 1,924,091.00 508,898.00

 39,300.00
12,707.00
1,924,091.00
200
Salary net of Threshold Taxable Applicable rTax due
28,000.00 20,833.00 7,167.00 0.20 1,433.40
23,000.00 20,833.00 2,167.00 0.20 433.40
1,866.80
 BIDA-TECH COMPANY
SALES JOURNAL

Sales Debit Credits

Date Name of Customer
Invoice Accounts Receivable Output Tax Sales
1-Dec 0068 Brandon 268,800.00 28,800.00 240,000.00
3-Dec 0069 UA 168,000.00 18,000.00 150,000.00
5-Dec 0070 St. Anne Academy 560,000.00 60,000.00 500,000.00
11-Dec 0071 I-Bank 280,000.00 30,000.00 250,000.00
26-Dec 0073 St. Anne Academy 218,400.00 23,400.00 195,000.00
Totals 1,495,200.00 160,200.00 1,335,000.00

AR 1,495,200.00
Output Tax 160,200.00
Sales 1,335,000.00