Cash on hand Cash in Bank

DR CR DR CR
Beg bal 20,000.00 20,000.00 beg. 55,330.20 71,926.59
Adj. 3,312.37 deposit 20,000.00 Adj. Ent. 3,312.37
CRJ 36,870.42
End Bal. 3,312.37 40,274.03
End Bal. 36,961.66 36,961.66

Furniture & Equip. Accum Depr. F & E

DR CR DR CR
beg bal 26,500.00 650.00
6/2/2008 GJ 36,000.00
6/10/2008 GJ 4,575.00

67,075.00 650.00

PAGIBIG W/holding tax

DR CR DR CR
1,000.00 1,633.58 1,633.58
1,000.00 816.79
500.00 816.79

500.00 1,633.58

Mabuhay Personal Income and Expense Summary

DR CR DR CR
200.00

200.00
 Petty cash fund Accounts Receivable Allow for bad debts
DR CR DR CR DR
2,000.00 Adj. Ent. Beg. Bal. 7,231.06
SJ 43,460.37 CRJ 32,446.35

2,000.00 18,245.08

Delivery Equip. Accum. Depr - DE Deposit for rent

DR CR DR CR DR
90,000.00 3,000.00 10,000.00

90,000.00 3,000.00 10,000.00

Interest payable Rent payable Utilities payable

DR CR DR CR DR
beg. Bal 10,000.00
Reversing ent 10,000.00 Reversing ent 1,500.00
Allow for bad debts Notes Receivable Interest Receivable Merchandise Inve
CR DR CR DR CR DR

Deposit for rent Deposit for utilities Accounts Payable Notes Payabl
CR DR CR DR CR DR
2,000.00 20,266.50
528 37,721.64
20266.5

2,000.00 37,193.64

Utilities payable Creditable income tax w/held VAT Payable Input tax
CR DR CR DR CR DR
beg. Bal 1500 500 2058.15 2,058.15 GJ
500.00 PJ
CPJ
 Merchandise Inventory Prepaid Insurance Prepaid supplies
DR CR DR CR DR CR
43917.3 beg. Bal 313.35
rev. entry 313.35

43917.3

Notes Payable SS & Ec Premuims payable PH Premium payable

DR CR DR CR DR CR
5124 3152 825.00
3152 825.00
- 412.50

5124 - 412.50

Input tax Output Tax Mabuhay Capital

DR CR DR CR DR CR
549 SJ 5156.86 213,206.68
4041.61 GJ 56.57 CRJ 26.39 36,000.00
148.43

4682.47 5130.47 249,206.68

 Sales Sales Discount
DR CR DR CR
42973.91 219.94

PAGIBIG Cont. Medicare prem. Exp

DR CR DR CR
 Sales return and allow Purchases
DR CR DR CR
33680.03

Rent expense SS & EC Prem. Exp.

DR CR DR CR
10000 10000
 Freight in Purchase Discount
DR CR DR CR
102.33

Salaries Supplies expense

DR CR DR CR
16500 313.35
16500

33000
Purchases return and allowances Advertising
DR CR DR CR
471.43

Taxes and licenses Utilities Expense

DR CR DR CR
1500 1500
552.05
 Bad Debts Depreciation - F&E
DR CR DR CR

Repair and maintenance Interest Income

DR CR DR CR
892.86
 Depr. DE Gas and oil
DR CR DR CR
446.43

Interest Expense Bank charges

DR CR DR CR
 BUENO MARKETING

For the Month Ended June 3

Unadjusted traial balance Adjustment
Account Debit Credit Debit Credit
Cash on Hand - 3,312.37
Cash in Bank 40,274.03 4,012.37
Petty Cash Fund 2,000.00 1,453.30
Accounts Receivable 18,245.08
Merchandise Inventory Beg. 43,917.30 43,917.30
Furniture & Equipment 67,075.00
Accum. Depr. - Fur & Equip. 650.00 832.19
Delivery Equipment 90,000.00
Accum. Depr. - Del. Equip. 3,000.00 1,500.00
Deposit for Rent 10,000.00
Deposit for Utilities 2,000.00
Accounts Payable 37,193.64
Notes Payable 5,124.00
SS & EC Premiums Payable 1,100.00 2,052.00
PhilHealth Premiums Payable 412.50 412.50
PAGIBIG Premiums Payable 500.00 500.00
Withholding Tax Payable 1,633.58
Rent Payable 10,000.00
Utilities Payable 1,500.00
Input Tax 4,682.47 155.70 4,838.17
Output Tax 5,130.47 5,130.47
Mabuhay Capital 249,206.68
Mabuhay Personal 200.00
Sales 42,973.91
Sales Discount 219.94
Purchases 33,680.03
Purchase Discount 102.33
Purchases Return and Allowances 471.43
Gas and Oil Expense 446.43 312.50
Salaries Expense 33,000.00
Supplies Expense 313.35 275.00 275.00
Utilities Expense 552.05 1,500.00
Repair and Maintenance Expense 892.86 710.10
347,498.54 347,498.54
SS EC Expense 2,052.00
Philhealth Expense 412.50
Pagibig Expense 500.00
Rent Expense 10,000.00
Depreciation - Furn. & equip. 832.19
Depreciation - Delivery equip 1,500.00
Bank charges 700.00
Prepaid supplies 275.00
Interest expense 51.24
Interest payable 51.24
Cost of sales 973.31
VAT Payable 292.30
Merchandise inv end 44,890.61
72,609.68 72,609.68
Income and expense summary -
 BUENO MARKETING
WORKSHEET
For the Month Ended June 30, 2006
Adjusted trial balance Income statement
Account Debit Credit Debit Credit
Cash on Hand 3,312.37
Cash in Bank 36,261.66
Petty Cash Fund 546.70
Accounts Receivable 18,245.08
Merchandise Inventory Beg.
Furniture & Equipment 67,075.00
Accum. Depr. - Fur & Equip. 1,482.19
Delivery Equipment 90,000.00
Accum. Depr. - Del. Equip. 4,500.00
Deposit for Rent 10,000.00
Deposit for Utilities 2,000.00
Accounts Payable 37,193.64
Notes Payable 5,124.00
SS & EC Premiums Payable 3,152.00
PhilHealth Premiums Payable 825.00
PAGIBIG Premiums Payable 1,000.00
Withholding Tax Payable 1,633.58
Rent Payable 10,000.00
Utilities Payable 1,500.00
Input Tax -
Output Tax -
Mabuhay Capital 249,206.68
Mabuhay Personal 200.00 200.00
Sales 42,973.91 42,973.91
Sales Discount 219.94 219.94
Purchases 33,680.03 33,680.03
Purchase Discount 102.33 102.33
Purchases Return and Allowances 471.43 471.43
Gas and Oil Expense 758.93 758.93
Salaries Expense 33,000.00 33,000.00
Supplies Expense 313.35 313.35
Utilities Expense 2,052.05 2,052.05
Repair and Maintenance Expense 1,602.96 1,602.96

SS EC Expense 2,052.00 2,052.00

Philhealth Expense 412.50 412.50
Pagibig Expense 500.00 500.00
Rent Expense 10,000.00 10,000.00
Depreciation - Furn. & equip. 832.19 832.19
Depreciation - Delivery equip 1,500.00 1,500.00
Bank charges 700.00 700.00
Prepaid supplies 275.00
Interest expense 51.24 51.24
Interest payable 51.24
Cost of sales 973.31 973.31
VAT Payable 292.30
Merchandise inv end 44,890.61
360,481.61 360,481.61 87,875.19 44,520.98
Income and expense summary 43,354.21
87,875.19 87,875.19
 BS
Account Debit Credit
Cash on Hand 3,312.37
Cash in Bank 36,261.66
Petty Cash Fund 546.70
Accounts Receivable 18,245.08
Merchandise Inventory Beg.
Furniture & Equipment 67,075.00
Accum. Depr. - Fur & Equip. 1,482.19
Delivery Equipment 90,000.00
Accum. Depr. - Del. Equip. 4,500.00
Deposit for Rent 10,000.00
Deposit for Utilities 2,000.00
Accounts Payable #VALUE!
Notes Payable 5,124.00
SS & EC Premiums Payable 3,152.00
PhilHealth Premiums Payable 825.00
PAGIBIG Premiums Payable 1,000.00
Withholding Tax Payable 1,633.58
Rent Payable 10,000.00
Utilities Payable 1,500.00
Input Tax
Output Tax
Mabuhay Capital 249,206.68
Mabuhay Personal
Sales
Sales Discount
Purchases
Purchase Discount
Purchases Return and Allowances
Gas and Oil Expense
Salaries Expense
Supplies Expense
Utilities Expense
Repair and Maintenance Expense

SS EC Expense
Philhealth Expense
Pagibig Expense
Rent Expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Prepaid supplies 275.00
Interest expense
Interest payable 51.24
Cost of sales
VAT Payable 292.30
Merchandise inv end 44,890.61
272,606.42 #VALUE!
Income and expense summary #VALUE!
#VALUE! #VALUE!
BUENO MARKETING
List of Adjusting Entries
June 30, 2008

a SS EC exp 2,052.00
Philhealth exp 412.50
PAGIBIG 500.00
SS EC payable 2,052.00
Philhealth payable 412.50
PAGIBIG Payable 500.00
to accrue SS EC and PH

b Rent Expense 10,000.00

Utilities expense 1,500.00
Rent Payable 10,000.00
Utilities Payable 1,500.00
to accrue ent and utilities

c Depreciation - Furn. & equip. 832.19

Depreciation - Delivery equip 1,500.00
Accum. Depr. F & E 832.19
Accum. Depr. DE 1,500.00
to record depreciation

d Bank Charges 700.00

Cash in bank 700.00
to record bank charges

e Prepaid supplies 275.00

Supplies expense 275.00
to record unused supplies

f Supplies expense 275.00

Repair and maintenance 710.10
Gas and Oil 312.50
Input tax 155.70
Petty cash fund 1,453.30
to adjust petty cash

g Output VAT
Input VAT
VAT payable
to close output against input VAT

h Interest expense 51.24

Interest payable 51.24
to accrue interest

i Merchandise inv. - end 44,890.61

Cost of sales 973.31
Merchandise inv. - beg. 43,917.30
to record ending inventory

j Cash on hand 3,312.37

Cash in bank 3,312.37
BUENO MARKETING
Sales Journal

Date Customer Terms Inv # F A/R debit Cash Sales (dr) Sales credit Output Tax

June 2, 2008 Emma perez COD 0008 1,433.60 1,280.00 153.60

June 3, 2008 Phil. Christian House 25%DP 0018 11,279.69 10,071.15 1,208.54
June 6, 2008 Care Supermarket 25%DP 0019 5,214.49 4,655.80 558.69
June 9, 2008 Joni Bolatao COD 0020 464.80 415.00 49.80
June 11, 2008 Vasquez grocery 25%DP 0021 9,625.04 8,593.79 1,031.25
June 15, 2008 Mang pandong 25%DP 0022 6,341.91 5,662.42 679.49
June 17, 2008 Marieta Mallari COD 0023 1,439.20 1,285.00 154.20
June 22, 2008 Fairview 25%DP 0024 5,278.85 4,713.26 565.59
June 23, 2008 International SM 25%DP 0025 5,720.39 5,107.49 612.90
June 29, 2008 Merle Anastacio COD 0026 1,332.80 1,190.00 142.80

43,460.37 4,670.40 42,973.91 5,156.86

BUENO MARKETING
Cash Receipts Journal
Sales Accounts Cash sales Sundry Credit
Date Received from Explaination OR CI Cash in bank (dr) discount Receivable (CR) (Cr) Account Amount

June 2, 2008 Emma perez cash sales 0008 1,433.60 1,433.60

June 2, 2008 Phil Christian house 25% down payment 2,819.92 2,819.92
June 4, 2008 International SM Full payment 3,779.79 68.87 3,856.92 Output tax (8.26)
June 5, 2008 vasquez Full payment 3,374.14 3,374.14
June 6, 2008 care supermarket 25% down payment 1,303.62 1,303.62
June 9, 2008 Joni Bolatao cash sales 0009 464.80 464.80
June 10, 2008 Phil Christian house Full payment 8,290.57 151.07 8,459.77 Output tax (18.13)
June 11, 2008 vasquez 25% down payment 2,406.26 2,406.26
June 14, 2008 care supermarket Full payment 3,910.87 3,910.87
June 15, 2008 mang pandong 25% down payment 1,585.48 1,585.48
June 17, 2008 marieta mallari cash sales 1,439.20 1,439.20
June 22, 2008 fairview 25% down payment 1,319.71 1,319.71
June 23, 2008 international SM 25% down payment 1,430.10 1,430.10
June 27, 2008 fairview partial payment 1,979.57 1,979.57
June 29, 2008 merle anastacio cash sales 1,332.80 1,332.80

36,870.42 219.94 32,446.35 4,670.40 (26.39)

BUENO MARKETING
Purchases Journal

Date Purchases from Terms INV # Purchases (Dr) Input tax (Dr) A/P (cr)
June 4, 2008 Evergreen manufacturing Co. n/60 310 10,499.40 1,259.93 11,759.33
June 16, 2008 Evergreen manufacturing Co. n/60 338 23,180.63 2,781.68 25,962.31
33,680.03 4,041.61 37,721.64
BUENO MARKETING
Cash Payment Journal

Cash in Purchase Accounts Sundry

Date Paid to CV # CHK # Bank ( cr) Disc. (cr) payable (dr) Account debit credit
2-Jun Sy Development Co. 00038 668860 11,000.00 Rent expense 10,000.00
Utilities Expense 1,500.00
Creditable w/helding tax 500.00

2-Jun BIR 00039 668861 2,058.15 Vat payable 2,058.15

2-Jun BIR 00040 668862 1,633.58 Withholding tax payable 1,633.58

7-Jun HDMF 00041 668863 1,000.00 PAGIBIG payable 1,000.00

7-Jun SSS 00042 668864 3,152.00 SS EC payable 3,152.00

7-Jun Philhealth 00043 668865 825.00 Philhealth payable 825.00

7-Jun Colgate 00044 668866 5,615.84 102.33 5,730.45 Input tax 12.28

9-Jun BIR 00045 668867 500.00 Creditable tax w/held 500.00

11-Jun janet Lopez 00046 668868 1,700.00 mabuhay personal 200.00

repair & maintenance 892.86
Input tax 160.71
Gas and oil 446.43

14-Jun Evergreen 00047 668869 7,268.02 7,268.02

16-Jun Janet Lopez 00048 668870 15,683.21 salaries exp. 16,500.00

Withholding tax payable 816.79

17-Jun Extelcom 00049 668871 552.05 Utilities exp. 552.05

21-Jun Evergreen 00050 668872 7,268.03 7,268.03

30-Jun Janet Lopez 00051 668873 13,670.71 salarie exp 16,500.00

Withholding tax payable 816.79
SS EC payable -
Philhealth payable 412.50
pagibig payable 500.00

71,926.59 102.33 20,266.50

 BUENO MARKETING
INCOME STATEMENT
For The Month Ended June 30, 2008

Sales 42,973.91
Sales discount 219.94
Net Sales 42,753.97
Cost of sales
Beg. Inventory 43,917.30
Purchases 33,680.03
Purchase Discount (102.33)
Purchase Return (471.43)
End Inventory (44,890.61) 32,132.96

Gross Profit 10,621.01

Administrative Expenses:
Gas and oil 758.93
Salaries 33,000.00
Supplies expense 313.35
Utilities Expense 2,052.05
Repair and maintenance 1,602.96
SS EC exp 2,052.00
Philhealth exp 412.50
PAGIBIG 500.00
Rent expense 10,000.00
Depreciation - Furn. & equip. 832.19
Depreciation - Delivery equip 1,500.00
Bank charges 700.00
Interest expense 51.24
Mabuhay personal 200.00 53,975.22

Net Income (Loss) (43,354.21)

 BUENO MARKETING
BANK RECONCILIATION
For the Month June 30, 2008

Unadjusted balance per Bank 43,529.70

Add:
Deposit in Transit 3,312.37

Error on over debit of withdrawals:

Check # Amount
668860 500.00
668867 1,200.00 1,700.00

Less:
Outstanding checks:
Check # Amount
668868 1,700.00
668872 7,268.03 8,968.03

Adjusted Balance per Bank 39,574.04

Unadjusted Balance per Books 40,274.03

Less:
Bank service charge 700.00

Adjusted Balance per Books 39,574.03

 BUENO MARKETING
BALANCE SHEET
As of June 30, 2008

Current Assets:
Cash on hand (Note 1) 40,120.73
Accounts Receivable (Note 2) 18,245.08
Merchandise Inventory 44,890.61
Prepaid supplies 275.00 103,531.42

Property, Plant and Equipment (Note 3) 151,092.81

Other Assets (Note 4) 12,000.00
TOTAL ASSETS 266,624.23

Current Liabilities:
Accounts payable (Note 5) 37,193.64
SS & Ec Premuims payable 3,152.00
PH Premium payable 825.00
PAGIBIG 1,000.00
W/holding tax 1,633.58
Rent payable 10,000.00
Utilities payable 1,500.00
Interest payable 51.24
VAT Payable 292.30 55,647.76

Non Current Liabilities:

Notes Payable 5,124.00 5,124.00

Owner's equity:
Mabuhay Capital 205,852.47 205,852.47

TOTAL LIABILITIES AND OWNER'S EQUITY 266,624.23

 BUENO MARKETING
Notes
As of June 30, 2008

Note 1:
Cash on Hand 3,312.37
Cash in Bank 36,261.66
Petty Cash Fund 546.70
40,120.73

Note 2:
Vasquez grocery 7,218.79
Mang pandong 4,756.43
Fairview 1,979.57
International SM 4,290.29
18,245.08

Note 3:
Furn & equip 67,075.00
Accum Depr - F & E (1,482.19)
Delivery equip 90,000.00
Accum Depr - DE (4,500.00)
151,092.81

Note 4:
Other Assets:
Deposit for rent 10,000.00
Deposit for Utilities 2,000.00
12,000.00

Note 5:
Evergeen Mfg. Co. 37,193.64
 BUENO MARKETING
Post Closing Trial balace
As of June 30, 2008

Cash on hand 3,312.37

Cash in Bank 36,261.66
Petty Cash Fund 546.70
Accounts Receivable 18,245.08
Merchandise Inventory 44,890.61
Prepaid supplies 275.00
Furn & Equip 67,075.00
Accum Depr - F & E 1,482.19
Delivery equip 90,000.00
Accum Depr - DE 4,500.00
Deposit for rent 10,000.00
Deposit for utilities 2,000.00
Accounts payable 37,193.64
Notes Payable 5,124.00
SS & Ec Premuims payable 3,152.00
PH Premium payable 825.00
PAGIBIG 1,000.00
W/holding tax 1,633.58
Rent payable 10,000.00
Utilities payable 1,500.00
VAT payable 292.30
Interest payable 51.24
Mabuhay Capital 205,852.47

TOTAL 272,606.42 272,606.42

 BUENO MARKETING
Closing Entries
As of June 30, 2008

Sales 42,973.91
Purchase Discount 102.33
Purchases return and allowances 471.43
Cost of sales 973.31
Income and expense summary 43354.2075
Mabuhay Personal 200.00
Sales Discount 219.94
Purchases 33,680.03
Gas and oil 758.93
Salaries 33,000.00
Supplies expense 313.35
Utilities Expense 2,052.05
Repair and maintenance 1,602.96
SS EC exp 2,052.00
Philhealth exp 412.50
pagibig exp 500.00
Rent expense 10,000.00
Depreciation - Furn. & equip. 832.19
Depreciation - Delivery equip 1,500.00
Bank charges 700.00
Interest expense 51.24

TOTAL 87,875.19 87,875.19

 Gross pay withholding tax SS PH Pagibig others
janet lopez 3,000.00 213.60
pilar 4,000.00 281.72
jess 3,000.00 7.28
daisy 3,500.00 253.81
willy 3,000.00 60.38
16,500.00 816.79

Gross pay withholding tax SS PH Pagibig others

janet lopez 3,000.00 213.60 200.00 75.00 100.00
pilar 4,000.00 281.72 266.70 100.00 100.00
jess 3,000.00 7.28 200.00 75.00 100.00
daisy 3,500.00 253.81 233.30 87.50 100.00
willy 3,000.00 60.38 200.00 75.00 100.00
16,500.00 816.79 1,100.00 412.50 500.00 -
employers share 2,052.00 412.50 500.00
3,152.00 825.00 1,000.00
Total net pay
213.60 2,786.40
281.72 3,718.28
7.28 2,992.72
253.81 3,246.19
60.38 2,939.62
816.79 15,683.21

Total net pay

588.60 2,411.40
748.42 3,251.58
382.28 2,617.72
674.61 2,825.39
435.38 2,564.62
2,829.29 13,670.71