1

GENERAL JOURNAL

DATE ACCOUNT TITLE AND EXPLANATION PR DEBIT CREDIT

2010
Oct. 4 Sales Returns and Allowances 402 ₱ 4,000.00
Output Tax 230-2 480.00
Accounts Receivable – Selisana Garments ₱ 4,480.00
Credit memo (Allowance for defective merchandise)

19 Notes Receivable 110 33,600.00

Accounts Receivable – Virtudazo Commercial 112 33,600.00
Receipts of notes payable

31 Allowance for Uncollectible Accounts 113 6,720.00

Accounts Receivable – Dela Torre Strore 112 6,720.00
Write-off uncollectible

31 Output Tax 212,335.20

Input Tax 89,284.80
Value-Added Tax Payable 123,050.40
VAT payable

ADJUSTMENTS
111 134.40
a Interest Receivable 410 134.40
Interest Income

b Uncollectible Accounts Expense 605 8,771.20

Allowance for Uncollectible Accounts 113 8,771.20

c Supplies Expense 601 22,772.00

Supplies 130 22,772.00

d Prepaid Insurance 140 2,750.00

Insurance Expense 602 2,750.00

e Rent Expense 603 50,000.00

Prepaid Rent 141 50,000.00

f Depreciation Expense – Furniture and Fixtures 630 7,605.00

Accumulated Depreciation – Furniture and Fixtures 151 7,605.00
631
Depreciation Expense – Equipment 153 12,250.00
Accumulated Depreciation – Equipment 12,250.00

Depreciation Expense – Service Vehicle 632 5,500.00

Accumulated Depreciation – Service Vehicle 155 5,500.00

g Cash 22,400.00
Accounts Receivable 22,400.00

h Vouchers Payable 240 637,231.74

SSS and EC Contributions Payable 211 11,135.00
Philhealth Contributions Payable 212 3,525.00
PAG-IBIG Contributions Payable 213 1,800.00
Withholding Tax Payable 214 15,673.34
Value-Added Tax Payable 230 123,050.40
Accounts Payable 202 482,048.00
 2

CLOSING ENTRIES

31 Merchandise Inventory, 10/31/10 120 763,642.00

Sales 400 1,779,100.00
Purchases Discounts 502 10,400.00
Purchases Returns and Allowances 503 10,000.00
Interest Income 410 1,734.40
Income Summary 302 2,564,876.40

31 Income Summary 302 1,884,472.33

Merchandise Inventory, 10/1/10 12 871,200.00
Sales Discounts 401 5,640.00
Sales Returns and Allowances 402 4,000.00
Purchases 500 684,400.00
Transportation In 501 4,000.00
Advertising Expense 600 8,000.00
Supplies Expense 601 22,772.00
Insurance Expense 602 2,750.00
Rent Expense 603 50,000.00
Utilities Expense 604 22,300.00
Repairs and Maintenance Expense 605 7,400.00
Salaries Expense 610 154,320.00
SSS and EC Contributions Expense 611 7,218.30
Philhealth Contributions Expense 612 1,762.50
PAG-IBIG Contribution Expense 613 900.00
Uncollectible Accounts Expense 620 8,467.20
Depreciation Expense – Furniture and Fixtures 630 7,605.00
Depreciation Expense – Equipment 631 12,250.00
Depreciation Expense – Service Vehicle 632 5,500.00
Miscellaneous Expense 640 784.00
Interest Expense 650 3,833.33

31 Income Summary 302 679,774.07

Therese Ballada, Capital 300 679,774.07
To close the income summary account

Therese Ballada, Capital 300 205,000.00

Therese Ballada, Withdrawals 301 205,000.00
To close the withdrawal account

BANK RECONCILIATION

31 Notes Receivable 110 45,000.00

Accounts Receivable 112 45,000.00
Notes collected

31 Cash 100 45,000.00

Notes Receivable 110 45,000.00
Notes collected

31 Accounts Payable 202 33,936.00

Cash 100 33,936.00
To reclassify DAUD

REVERSING ENTRIES

2 Interest Income 410 134.40

Interest Receivable

2 Insurance Expense 140 2,750.00

Prepaid Insurance 602 2,750.00
 3

GENERAL LEDGER

CASH 3
10/1 ₱ 227,036.18 10/31 ₱ 1,742,016.60 10/2 5,432.00
10/3 2,310,915.20 9
1 ₱ 32,272.00 ₱ 22,772.00
₱ 2,537,951.38 ₱ 1,742,016.60 10/3 ₱ 9,500.00
₱ 795,934.78 1
22,400.00
10/3 ₱ 818,334.78 PREPAID INSURANCE
1 10/1 ₱ 12,750.00 ₱ 2,750.00
10/3 ₱ 10,000.00
PETTY CASH 1
10/1 ₱ 8,000.00

NOTES RECEIVABLE
10/1 ₱ 240,000.00 10/24 ₱ 240,000.00
10/1 33,600.00 PREPAID RENT
9 10/1 ₱ 150,000.00 ₱ 50,000.00
₱ 273,600.00 ₱ 240,000.00 10/3 ₱ 100,000.00
10/3 ₱ 33,600.00 1
1
FURNITURE AND FIXTURES
INTEREST RECEIVABLE 10/1 ₱ 650,000.00 10/17 ₱ 10,000.00
10/1 ₱ 2,400.00 10/24 ₱ 2,400.00 10/1 36,000.00
₱ 0.00 2
134.40 ₱ 686,000.00 ₱ 10,000.00
10/3 ₱ 134.40 10/3 ₱ 676,000.00
1 1

ACCOUNTS RECEIVABLE ACCUMULATED DEPRECIATION – FURNITURE AND

10/1 ₱ 313,600.00 10/19 ₱ 33,600.00 FIXTURES
10/3 463,680.00 6,720.00 10/1 ₱ 74,250.00
10/31
1 7,605.00
10/31 544,320.00 10/31 ₱ 81,855.00
10/4 4,480.00
₱ 777,280.00 ₱ 589,120.00 EQUIPMENT
₱ 188,160.00 ₱ 22,400.00 10/1 ₱ 735,000.00
10/3 ₱ 165,760.00
1 ACCUMULATED DEPRECIATION - EQUIPMENT
10/1 ₱ 134,500.00
12,250.00
ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS 10/31 ₱ 146,750.00
10/3 ₱ 6,720.00 ₱ 9,408.00
10/1
1 SERVICE VEHICLE
₱ 2,688.00 10/1 ₱ 410,000.00
8,467.20
10/31 ₱ 11,155.20 ACCUMULATED DEPRECIATION – SERVICE VEHICLE
10/1 ₱ 33,000.00
MERCHANDISE INVENTORY 5,500.00
10/1 ₱ 871,200.00 10/31 ₱ 871,200.00 10/31 ₱ 38,500.00
10/3 763,642.00
1 RENT DEPOSIT
₱ 1,634,842.00 ₱ 871,200.00 10/1 ₱ 150,000.00
10/3 ₱ 763,642.00
1 UTILITIES DEPOSIT
10/1 ₱ 18,500.00
SUPPLIES
10/1 ₱ 14,500.00 ₱ 22,772.00 NOTES PAYABLE
10/1 6,000.00 10/2 ₱ 500,000.00 ₱ 500,000.00
5 10/1
3
10/2 6,340.00
 4

10/1 40,320.00 1,959,909.60

10/31
INTEREST PAYABLE 7
10/2 ₱ 16,166.67 ₱ 16,166.67 10/3 1,753,664.60 123,050.40
10/1 1
3
₱ 1,973,184.60 ₱ 2,610,416.34
ACCOUNTS PAYABLE 10/3 ₱ 637,231.74 ₱ 637,231.74
10/31
₱ 482,048.00 1

SSS AND EC CONTRIBUTIONS PAYABLE THERESE BALLADA, CAPITAL

10/3 ₱ 3,916.70 ₱ 1,958.35 10/3 ₱ 205,000.00 ₱ 2,508,205.17
10/15 10/1
1 1
10/31 1,958.35 10/31 679,774.07
₱ 3,916.70 ₱ 3,916.70 ₱ 205,000.00 ₱ 3,187,979.24
0.00 10/31 ₱ 2,982,979.24
10/31 11,135.00
THERESE BALLADA, WITHDRAWALS
PHILHEALTH CONTRIBUTIONS PAYABLE 10/2 ₱ 160,000.00
10/3 ₱ 1,762.50 ₱ 881.25 9
10/15 10/3 45,000.00
1
10/31 881.25 1
₱1,762.50 ₱ 1,762.50 ₱ 205,000.00 10/31 ₱ 205,000.00
10/31 3,525.00
INCOME SUMMARY
PAG-IBIG CONTRIBUTIONS PAYABLE 10/3 ₱ 1,885,102.33 ₱ 2,564,876.40
10/31
10/3 ₱ 900.00 ₱ 450.00 1
10/15 10/3 679,774.07
1
10/31 450.00 1
₱ 900.00 ₱ 900.00 10/3 ₱ 2,564,876.40 ₱ 2,564,876.40
10/31
10/31 1,800.00 1

WITHHOLDING TAXES PAYABLE SALES

10/3 ₱ 15,673.34 ₱ 7,836.67 10/31 ₱ 414,000.00
10/15 10/31 1,365,100.00
1
10/31 7,836.67 10/3 ₱ 1,779,100.00 ₱ 1,779,100.00
10/31
₱ 15,673.34 ₱ 15,673.34 1
10/31 15,673.34
SALES DISCOUNTS
VALUE-ADDED TAX PAYABLE 10/3 ₱ 5,640.00 ₱ 5,640.00
10/31
10/3 ₱ 123,050.40 ₱ 123,050.40 1
10/31
1
10/31 123,050.40 SALES RETURNS AND ALLOWANCES
10/4 ₱ 4,000.00 10/31 ₱ 4,000.00
INPUT TAX
10/3 ₱ 92,932.80 ₱ 1,200.00 INTEREST INCOME
10/5 10/24 ₱ 1,600.00
1
10/17 1,200.00 134.40
10/31 1,248.00 10/3 ₱ 1,734.40 ₱ 1,734.40
10/31 89,284.80 1
10/3 ₱ 92,932.80 ₱ 92,932.80
10/31
1 PURCHASES
10/3 ₱ 684,400.00 ₱ 684,400.00
10/31
OUTPUT TAX 1
10/4 480.00 10/31 ₱ 49,680.00
10/3 ₱ 212,335.20 163,812.00 TRANSPORTATION IN
10/31
1 10/2 ₱ 1,000.00
10/3 676.80 10/2 3,000.00
1 2
10/3 ₱ 213,492.00 ₱ 213,492.00 ₱ 4,000.00 10/31 ₱ 4,000.00
10/31
1
PURCHASES DISCOUNTS
VOUCHERS PAYABLE
10/5 ₱ 179,200.00 10/1 ₱ 527,456.34
 5

10/3 ₱ 10,400.00 ₱ 10,400.00

10/31
1 DEPERECIATION EXPENSE – EQUIPMENT
₱ 12,250.00 10/31 ₱ 12,250.00
PURCHASES RETURNS AND ALLOWANCES
10/3 ₱ 10,000.00 ₱ 10,000.00 DEPRECIATION EXPENSE – SERVICE VEHICLE
10/5
1 ₱ 5,500.00 10/31 ₱ 5,500.00

ADVERTISTING EXPENSE MISCELLANEOUS EXPENSE

10/3 ₱ 8,000.00 ₱ 8,000.00 10/2 ₱ 784.00 ₱ 784.00
10/31 10/31
0 9

SUPPLIES EXPENSE INTEREST EXPENSE

₱ 22,772.00 10/31 ₱ 22,772.00 10/2 ₱ 3,833.33 ₱ 3,833.33
10/31
3
INSURANCE EXPENSE
₱ 2,750.00 10/31 ₱ 2,750.00

RENT EXPENSE
₱ 50,000.00 10/31 ₱ 50,000.00

UTILITIES EXPENSE
10/3 ₱ 15,000.00
0
10/3 7,300.00
0
₱ 22,300.00 10/31 ₱ 22,300.00

REPAIRS AND MAINTENANCE EXPENSE

10/1 ₱ 5,000.00
8
10/4 2,400.00
₱ 7,400.00 10/31 ₱ 7,400.00

SALARIES EXPENSE
10/1 ₱ 77,160.00
5
10/3 77,160.00
1
₱ 154,320.00 10/31 ₱ 154,320.00

SSS AND EC CONTRIBUITONS EXPENSE

10/3 ₱ 7,218.30 ₱ 7,218.30
10/31
1

PHILHEALTH CONTRIBUTIONS EXPENSE

10/3 ₱ 1,762.50 ₱ 1,762.50
10/31
1

PAG-IBIG CONTRIBUTIONS EXPENSE

10/3 ₱ 900.00 ₱ 900.00
10/31
1

UNCOLLECTIBLE ACCOUNTS EXPENSE

10/3 ₱ 8,467.20 ₱ 8,467.20
10/31
1

DEPRECIATION EXPENSE – FURNITURE AND

FIXTURES
10/3
₱ 7,605.00 ₱ 7,605.20
1
 6

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

CARDENAS MARKETING
10/1 ₱ 17,920.00 10/19 ₱ 17,920.00
10/1 56,000.00 10/30 56,000.00
10/3 ₱ 73,920.00 ₱ 73,920.00
10/31
1

DELA TORRE STORE

10/1 ₱ 6,720.00 10/31 ₱ 6,720.00

DEL MUNDO SHIRTS STATION

10/1 ₱ 89,600.00 10/1 ₱ 89,600.00
10/4 22,400.00
₱ 112,000.00 ₱ 89,600.00
₱ 22,400.00 10/31 ₱ 22,400.00

MARASIGAN ENTERPRISES
10/1 ₱ 78,400.00 10/12 ₱ 78,400.00
10/1 64,960.00 64,960.00
10/31
9
10/3 ₱ 143,360.00 ₱ 143,360.00
10/31
1

MODESTO BARGAIN HOUSE

10/1 ₱ 26,880.00 10/8 ₱ 26,880.00
10/1 53,760.00 53,760.00
10/22
2
10/2 89,600.00
9
₱ 170,240.00 ₱ 80,640.00
10/3 ₱ 89,600.00
1

SELISANA GARMENTS
10/1 ₱ 49,280.00 10/4 ₱ 4,480.00
10/1 100,800.00 44,800.00
10/5
6
10/26 100,800.00
10/3 ₱ 150,080.00 ₱ 150,080.00
10/31
1

VIRTUDAZO COMMERCIAL
10/1 ₱ 44,800.00 10/19 ₱ 33,600.00
10/8 11,200.00
10/3 ₱ 44,800.00 ₱ 44,800.00
10/31
1

LIANZA OUTFITTERS
10/3 ₱ 76,160.00
1
 7

KASHATO SHIRTS
Preliminary Trial Balance
October 31, 2010

NO. ACCOUNT TITLE DEBIT CREDIT

100 Cash ₱ 795,934.78  
101 Petty Cash 8,000.00  
110 Notes Receivable 33,600.00  
112 Accounts Receivable 188,160.00  
113 Allowance for Uncollectible Accounts   ₱ 2,688.00
120 Merchandise Inventory 763,642.00  
130 Supplies 32,272.00  
140 Prepaid Insurance 12,750.00  
141 Prepaid Rent 150,000.00  
150 Furniture and Fixtures 676,000.00  
151 Accumulated Depreciation - Furniture & Fixtures   74,250.00
152 Equipment 735,000.00  
153 Accumulated Depreciation - Equipment   134,500.00
154 Service Vehicle 410,000.00  
155 Accumulated Depreciation - Service Vehicle   33,000.00
160 Rent Deposit 150,000.00  
161 Utilities Deposit 18,500.00  
240 Vouchers Payable   637,231.74
300 Therese Ballada , Capital   2,508,205.17
301 Therese Ballada, Withdrawals 205,000.00  
400 Sales   1,779,100.00
401 Sales Discounts 5,640.00  
402 Sales Returns and Allowances 4,000.00  
410 Interest Income   1,600.00
500 Purchases 684,400.00  
501 Transportation In 4,000.00  
502 Purchases Discounts   10,400.00
503 Purchases Returns and Allowances   10,000.00
600 Advertising Expense 8,000.00  
604 Utilities Expense 22,300.00  
605 Repairs and maintenance Expense 7,400.00  
610 Salaries Expense 154,320.00  
611 SSS and EC Contributions Expense 7,218.30  
612 Philhealth Contributions Expense 1,762.50  
613 PAG-IBIG Contributions Expense 900.00  
640 Miscellaneous Expense 784.00  
650 Interest Expense 3,833.33  
₱ ₱
Total 5,190,884.91 5,190,884.91
 8

KASHATO SHIRTS
Final Trial Balance
October 31, 2010

NO. ACCOUNT TITLE DEBIT CREDIT

100 Cash ₱ 818,334.78  
101 Petty Cash 8,000.00  
110 Notes Receivable 33,600.00  
111 Interest Receivable 134.40  
112 Accounts Receivable 165,760.00  
113 Allowance for Uncollectible Accounts   ₱ 11,155.20
120 Merchandise Inventory 763,642.00  
130 Supplies 9,500.00  
140 Prepaid Insurance 10,000.00  
141 Prepaid Rent 100,000.00  
150 Furniture and Fixtures 676,000.00  
151 Accumulated Depreciation - Furniture & Fixtures   81,855.00
152 Equipment 735,000.00  
153 Accumulated Depreciation - Equipment   146,750.00
154 Service Vehicle 410,000.00  
155 Accumulated Depreciation - Service Vehicle   38,500.00
160 Rent Deposit 150,000.00  
161 Utilities Deposit 18,500.00  
202 Accounts Payable   482,048.00
211 SSS and EC Contributions Payable   11,135.00
212 Philhealth Contributions Payable   3,525.00
213 PAG-IBIG Contributions Payable   1,800.00
214 Withholding Tax Payable   15,673.34
230 Value Added Tax Payable   123,050.40
300 Therese Ballada , Capital   2,508,205.17
301 Therese Ballada, Withdrawals 205,000.00  
400 Sales   1,779,100.00
401 Sales Discounts 5,640.00  
402 Sales Returns and Allowances 4,000.00  
410 Interest Income   1,734.40
500 Purchases 684,400.00  
501 Transportation In 4,000.00  
502 Purchases Discounts   10,400.00
503 Purchases Returns and Allowances   10,000.00
600 Advertising Expense 8,000.00  
601 Supplies Expense 22,772.00  
602 Insurance Expense 2,750.00  
603 Rent Expense 50,000.00  
604 Utilities Expense 22,300.00  
605 Repairs and maintenance Expense 7,400.00  
610 Salaries Expense 154,320.00  
611 SSS and EC Contributions Expense 7,218.30  
612 Philhealth Contributions Expense 1,762.50  
613 PAG-IBIG Contributions Expense 900.00  
620 Uncollectible Accounts Expense 8,467.20  
630 Depreciation Expense - Furniture and Fixtures 7,605.00  
631 Depreciation Expense - Equipment 12,250.00  
632 Depreciation Expense - Service vehicle 5,500.00  
640 Miscellaneous Expense 784.00  
650 Interest Expense 3,833.33  
₱
Total 5,224,931.51 ₱ 5,224,931.51
 9

KASHATO SHIRTS
Statement of Financial Performance
October 31, 2010

Net Sales
Gross Sales ₱ 1,779,100.00
Less Sales Discounts ₱ 5,640.00
:
Sales Returns and Allowances 4,000.00 9,640.00
Net Sales ₱ 1,769,460.00
Cost of Sales
Merchandise Inventory, 10/1/10 ₱ 871,200.00
Purchases ₱ 684,400.00
Less Purchases Discounts ₱ 10,400.00
:
Purchases Returns and Allowances 10,000.00 20,400.00
Net Purchases ₱ 664,000.00
Add: Transportation In 4,000.00
Net Cost of Purchases 668,000.00
Goods Available for Sale ₱ 1,539,200.00
Less Merchandise Inventory, 10/31/10 763,642.00
:
Cost of Sales 775,558.00
Gross Profit ₱ 993,902.00
Operating Expenses
Selling Expenses
Supplies Expense ₱ 22,772.00
Advertising Expense 8,000.00
Insurance Expense 2,750.00
Selling Expenses ₱ 33,522.00
Administrative Expenses
Salaries Expense ₱ 154,320.00
Rent Expense 50,000.00
Utilities Expense 22,300.00
Repairs and Maintenance Expense 7,400.00
SSS and EC Contribution Expense 7,218.30
Philhealth Contribution Expense 1,762.50
PAG-IBIG Contribution Expense 900.00
Uncollectible Accounts Expense 8,467.20
Depreciation Expense - Furniture and Fixtures 7,605.00
Depreciation Expense - Equipment 12,250.00
Depreciation Expense - Service Vehicle 5,500.00
Miscellaneous Expense 784.00
Administrative Expenses 278,507.00 312,029.00
Operating Profit ₱ 681,873.00
Add (Deduct): Other Income (Other Expense)
Interest Expense (₱ 3,833.33)
Interest Income 1,734.40 (2,098.93)
Net Profit ₱ 679,774.07

KASHATO SHIRTS
Statement of Changes in Equity
October 31, 2010

₱
Therese Ballada , Capital 10/1/10 2,508,205.17
Add: Net Profit 679,774.07
₱
Total 3,191,675.24
Less Withdrawals 205,000.00
 10

:
₱
Therese Ballada , Capital 10/31/10 2,982,979.24
 11

KASHATO SHIRTS
Statement of Financial Position
October 31, 2010

ASSETS
Current Assets
Cash ₱ 818,334.78
Petty Cash 8,000.00
Notes Receivable 33,600.00
Interest Receivable 134.40
Accounts Receivable ₱ 165,760.00 154,604.80
Less: Allowance for Uncollectible Accounts 11,155.20
Merchandise Inventory 763,642.00
Supplies 9,500.00
Prepaid Insurance 10,000.00
Prepaid Rent 100,000.00
Total Current Assets ₱ 1,897,815.98
Non-current Assets
Furniture and Fixtures ₱ 676,000.00
Less: Accumulated Depreciation - Furniture & Fixtures 81,855.00 ₱ 594,145.00
Equipment ₱ 735,000.00
Less: Accumulated Depreciation - Equipment 146,750.00 588,250.00
Service Vehicle ₱ 410,000.00
Less: Accumulated Depreciation - Service Vehicle 38,500.00 371,500.00
Rent Deposit 150,000.00
Utilities Deposit 18,500.00
Total Non-current Assets 1,722,395.00
Total Assets ₱ 3,620,210.98
LIABILITIES
Current Liabilities
Accounts Payable ₱ 482,048.00
SSS and EC Contributions Payable 11,135.00
Philhealth Contributions Payable 3,525.00
PAG-IBIG Contributions Payable 1,800.00
Withholding Tax Payable 15,673.34
Value-Added Tax Payable 123,050.40
Total Liabilities ₱ 637,231.74
OWNER’S EQUITY
Therese Ballada , Capital 10/31/13 2,982,979.24
Total Liabilities and Owner’s Equity ₱ 3,620,210.98
 12

KASHATO SHIRTS
Statement of Cash Flows
October 31, 2010

CASH FLOWS FROM OPERATING ACTIVITIES

₱
Cash sales 1,528,912.00
Cash received from clients 804,403.20
Cash purchase (6,720.00)
Payments to creditors (1,243,072.00)
Payments to employees (227,203.80)
Payments operating expenses (60,020.80)
Net cash provided by (used in ) operating activities ₱796,298.60
CASH FLOWS FROM FINANCING ACTIVITIES
(₱
Payments for withdrawals by owner 205,000.00)
Net Increase in Cash ₱ 591,298.60
Cash balance, 10/01/10 227,036.18
Cash balance, 10/31/10 ₱ 818,334.78

KASHATO SHIRTS
Post-Closing Trial Balance
October 31, 2010

NO. ACCOUNT TITLE DEBIT CREDIT

100 Cash ₱ 818,334.78  
101 Petty Cash 8,000.00  
110 Notes Receivable 33,600.00  
111 Interest Receivable 134.40  
112 Accounts Receivable 165,760.00  
113 Allowance for Uncollectible Accounts   ₱ 11,155.20
120 Merchandise Inventory 763,642.00  
130 Supplies 9,500.00  
140 Prepaid Insurance 10,000.00  
141 Prepaid Rent 100,000.00  
150 Furniture and Fixtures 676,000.00  
151 Accumulated Depreciation - Furniture & Fixtures   81,855.00
152 Equipment 735,000.00  
153 Accumulated Depreciation - Equipment   146,750.00
154 Service Vehicle 410,000.00  
155 Accumulated Depreciation - Service Vehicle   38,500.00
160 Rent Deposit 150,000.00  
161 Utilities Deposit 18,500.00  
240 Vouchers Payable 637,231.74
300 Therese Ballada , Capital   2,982,979.24
Total ₱ 3,898,471.18  ₱ 3,898,471.18
 13

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

Balances as at October 31, 2010

Modesto Bargain House ₱ 89,600.00

Lianza Outfitters 76,160.00
₱ 165,760.00

UNPAID VOUCHERS BY DUE DATE

Balances as at October 31, 2010

Due Date Voucher No. Payee Amount Account Classification

11/4/10 0208 Budoy Shirt Factory ₱ 22,848.00 Accounts Payable
11/05/10 0228 SSS and EC Contributions Payable 11,135.00 SSS and EC Contributions Payable
11/10/10 0229 Philhealth Contributions Payable 3,525.00 Philhealth Contributions Payable
11/10/10 0231 Withholding Taxes Payable 15,673.34 Withholding Taxes Payable
11/15/10 0230 PAG-IBIG Contributions Payable 1,800.00 PAG-IBIG Contributions Payable
11/16/10 0214 Medina Office Systems 29,120.00 Accounts Payable
11/19/10 0216 Camisera Rivadelo 112,000.00 Accounts Payable
11/25/10 0233 Bureau of Internal Revenue-VAT 123,050.40 Value-Added Tax Payable
11/25/10 0221 Blanche Manufacturing Company 206,080.00 Accounts Payable
12/23/10 0220 Burgos Shirts 112,000.00 Accounts Payable
₱ 637,231.74

UNPAID VOUCHERS BY ACCOUNT CLASSIFICATION

Balances as at October 31, 2010

Accounts Payable ₱ 482,048.00

SSS and EC Contributions Payable 11,135.00
Philhealth Contributions Payable 3,525.00
PAG-IBIG Contributions Payable 1,800.00
Withholding Taxes Payable 15,673.34
Value-Added Tax Payable 123,050.40
₱ 637,231.74

KASHATO SHIRTS
Bank Reconciliation Statement
October 31, 2010

Balance per book ₱ 795,934.78

Add: Note collected by bank 22,400.00
Adjusted book balance ₱ 818,334.78
₱
Balance per Bank 807,270.78
Add: Deposit in Transit 45,000.00
Total ₱ 852,270.78
Less
: Outstanding Checks
Check No. 81213 ₱ 16,800.00
Check No. 81214 8,176.00
Check No. 81215 8,960.00 33,936.00
Adjusted bank balance ₱ 818,334.78
 14

CHECK SUMMARY

CHECK
DATE PARTICULAR DEPOSIT WITDRAWAL BALANCE
NO.
2010          
Sept 30   Balance Brought Forward     ₱ 227,036.18
Oct. 1   Del Mundo Shirts Station ₱ 87,808.00   314,844.18
  2 81191 Tria Forwarders   ₱ 1,120.00 313,724.18
26,880.0
  3
81192 Camiseria Rivadelo   0 286,844.18
  4 81193 Cayanan Services   2,688.00 284,156.18
11,135.0
  5
81194 SSS and EC   0 273,021.18
  5   Selisana Garments 43,904.00   316,925.18
  8   Cash Sales 393,456.00   710,381.18
  8   Modesto Bargain House 26,342.40   736,723.58
  8   Virtudazo Commercial 11,200.00   747,923.58
219,520.0
  9
81195 Ruiz Marketing   0 528,403.58
15,673.3
  10
81196 BIR   4 512,730.24
  10 81197 PhilHealth Insurance Corp.   3,525.00 509,205.24
  12   Marasigan Enterprises 78,400.00   587,605.24
110,880.0
  13
81198 Gascon Trading   0 476,725.24
  15   Cash Sales 315,056.00   791,781.24
66,033.7
  15
81199 Semi-monthly Payroll   3 725,747.51
  15 81200 Geron Merchandising   6,720.00 719,027.51
44,800.0
  15
81201 Burgos Shirts   0 674,227.51
  15 81202 PAG-IBIG Fund   1,800.00 672,427.51
164,640.0
  17
81203 Blanche Manufacturing Company   0 507,787.51
  18 81204 Dulay Repairs   5,600.00 502,187.51
  19   Cardenas Marketing 17,920.00   520,107.51
  22   Cash Sales 294,000.00   814,107.51
  22 81205 Galang Freight Services   3,360.00 810,747.51
  22   Modesto Bargain House 52,684.80   863,432.31
520,000.0
  23
81206 Dona Seechua Dev't Bank   0 343,432.31
  23 81207 Villon Supplies   7,100.80 336,331.51
  25   Pateno Sales 244,000.00   580,331.51
24,640.0
  24
81208 Barbo Wears   0 555,691.51
63,003.0
  25
81209 BIR   0 492,688.51
  26   Selisana Garments 98,784.00   591,472.51
131,712.0
  26
81210 Ruiz Marketing   0 459,760.51
160,000.0
  29
81211 Theresa Ballada   0 299,760.51
  29 81212 Romanor Gatmaitan   6,216.00 293,544.51
  30   Cardenas Marketing 56,000.00   349,544.51
16,800.0
  30
81213 Meralco   0 332,744.51
  30 81214 Bobadilla Telephone Co.   8,176.00 324,568.51
  30 81215 People's Journal   8,960.00 315,608.51
66,033.7
  31
  Semi-Monthly Payroll   3 249,574.78
  31   Cash Sales 526,400.00   775,974.78
 15

45,000.0
  31
  Theresa Ballada   0 730,974.78
₱
  31  
Marasigan Enterprises 64,960.00   795,934.78