MARIANO LERIN BOOKSTORE

CHART OF ACCOUNTS
USE FOR JOURNALIZATION AND POSTING TO THE LEDGER

100 ASSETS 400 EXPENSES

101 CASH 401 PURCHASES
102 ACCOUNTS RECEIVABLE 402 PURCHASE DISCOUNT
103 SUPPLIES 403 PURCHASE RETURNS AND ALLOWANCES
404 FREIGHT IN
200 LIABILITY 405 FREIGHT OUT
201 ACCOUNTS PAYABLE
202 NOTES PAYABLE 501 INCOME SUMMARY

300 INCOME
301 SALES
302 SALES DISCOUNT
303 SALES RETURNS AND ALLOWANCES
GENERAL JOURNAL
PAGE NUMBER GJ-1
WITH EXPLANATIONS

MARCH 2 TO 12 TRANSACTIONS ONLY

CURRENT JOURNAL ENTRIES
DATE DESCRITION
REF DEBIT CREDIT
MARCH 2 PURCHASES 401 P 74,000.00
ACCOUNTS PAYABLE 201 P 74,000.00
Purchased merchandise on account, Digao
Publishers, 2/10, n/30, FOB Destination
3 ACCOUNTS RECEIVABLE 102 10,000.00
SALES 301 10,000.00
Sold merchandise on account, Detoya Books
Shop, 1/10, n/30, FOB Shipping Point
5 CASH 101 7,000.00
SALES 301 7,000.00
Cash Sales
6 PURCHASES 401 42,000.00
ACCOUNTS PAYABLE 201 42,000.00
Purachased merchandise on account, Made
Easy Bookstore, 2/10, n/30, FOB Shipping Point
7 FREIGHT IN 404 570.00
NOTES PAYABLE 202 570.00
Freight bill from Super Express from shipment
on March 6
9 ACCOUNTS RECEIVABLE 102 38,000.00
SALES 301 38,000.00
Sold merchandise on account, Recoletos Books,
1/10, n/30, FOB Destination
10 PURCHASES 401 26,500.00
FREIGHT IN 404 500.00
ACCOUNTS PAYABLE 201 27,000.00
Purchased merchandise on account, Digao
Publishers, 2/10, n/30, FOB Shipping Point
11 FREIGHT OUT 405 291.00
NOTES PAYABLE 202 291.00
Freight bill from Super Express for sale on March 9
12 ACCOUNTS PAYABLE 201 74,000.00
CASH 101 72,520.00
PURCHASE DISCOUNT 402 1,480.00
P 74,000.00*2%= P 1,480
Payment on Digao Publishers on March 2
GENERAL JOURNAL
PAGE NUMBER GJ-2
WITH EXPLANATIONS

MARCH 13 TO 20 TRANSACTIONS ONLY

CURRENT JOURNAL ENTRIES
DATE DESCRITION
REF DEBIT
MARCH 13 CASH 101 P 9,900.00
SALES DISCOUNT 302 100.00
ACCOUNTS RECEIVABLE 102
P 10,000.00*1%= P 100
Received payment from Detoya's Book Shop
on March 3
14 ACCOUNTS PAYABLE 201 21,000.00
CASH 101
PURCHASE DISCOUNT 402
P 21,000.00*2%= P 420
Partial payment on Made Easy on March 6
15 ACCOUNTS PAYABLE 201 3,000.00
PURCHASE RETURNS AND ALLOWANCES 403
Received refund on March 10 transaction
16 SUPPLIES 103 4,780.00
ACCOUNTS PAYABLE 201
Purchased supplies on account, Olamit
Supplies, n/10
17 CASH 101 18,810.00
SALES DISCOUNT 302 190.00
ACCOUNTS RECEIVABLE 102
P 19,000.00*1%= P 190
Received partial payment from Recoletos Books
on March 9
18 ACCOUNTS PAYABLE 201 23,500.00
CASH 101
PURCHASE DISCOUNT 402
P 23,500.00*2%= P 470
Payment on Digao Publishers on March 10
19 ACCOUNTS RECEIVABLE 102 7,800.00
SALES 301
Sold merchandise on account, Sir Ed Trading, 2/10,
n/30, FOB Shipping Point
20 ACCOUNTS PAYABLE 201 1,280.00
SUPPLIES 403
Received refund on March 16 transaction
NT JOURNAL ENTRIES
CREDIT

P 10,000.00

20,580.00
420.00

3,000.00

4,780.00

19,000.00

23,030.00
470.00

7,800.00

1,280.00
GENERAL JOURNAL
PAGE NUMBER GJ-3
WITH EXPLANATIONS

MARCH 22 TO 31 TRANSACTIONS ONLY

CURRENT JOURNAL ENTRIES
DATE DESCRITION
REF DEBIT CREDIT
MARCH 22 SALES RETURNS AND ALLOWANCES 303 P 1,800.00
ACCOUNTS RECEIVABLE 102 P 1,800.00
Refund from customers on March 19 transaction
25 ACCOUNTS PAYABLE 201 3,500.00
CASH 101 3,500.00
Payment on Olamit Supplies on March 16
26 NOTES PAYABLE 202 861.00
CASH 101 861.00
Payment for freight charges for March 7 and 11
27 CASH 101 5,880.00
SALES DISCOUNT 302 120.00
ACCOUNTS RECEIVABLE 102 6,000.00
P 6,000.00*2%= P 120
Received payment from Sir Ed Trading
on March 19
28 ACCOUNTS PAYABLE 201 21,000.00
CASH 101 21,000.00
Payment for the balance on Made Easy on March 6
31 CASH 101 9,730.00
SALES 301 9,730.00
Cash Sales
GENERAL LEDGER
PAGE NUMBER GL-1

ACCOUNT 101 CASH

DATE
ITEM POST DEBIT
MARCH 5 Cash Sales GJ-1 P 7,000.00
12 Payment on Digao Publishers on March 2 GJ-1
13 Received payment from Detoya's Book Shop on March 3 GJ-2 9,900.00
14 Partial payment on Made Easy on March 6 GJ-2
17 Received partial payment from Recoletos Books on March 9 GJ-2 18,810.00
18 Payment on Digao Publishers on March 10 GJ-2
25 Payment on Olamit Supplies on March 16 GJ-3
26 Payment for Freight charges for March 7 and 11 GJ-3
27 Received payment from Sir Ed Trading on March 19 GJ-3 5,880.00
28 Payment for the balance on Made Easy on March 6 GJ-3
31 Cash Sales GJ-3 9,730.00

ACCOUNT 102 ACCOUNTS RECEIVAB

DATE
ITEM POST DEBIT
MARCH 3 Sold merchandise on account, Detoya Books Shop,
GJ-1 P 10,000.00
1/10, n/30, FOB Shipping Point
9 Sold merchandise on account, Recoletos Books,
GJ-1 38,000.00
1/10, n/30, FOB Destination
13 Received payment from Detoya's Book Shop on March 3 GJ-2
17 Received partialpayment from Recoletos Books on March 9 GJ-2
19 Sold merchandise on account, Sir Ed Trading, 2/10, n/30,
GJ-2 7,800.00
FOB Shipping Point
22 Refund from customers on March 19 transaction GJ-3
27 Received payment from Sir Ed Trading on March 19 GJ-3

ACCOUNT 103 SUPPLIES

DATE
ITEM POST DEBIT
MARCH 16 Purchase supplies on account, Olamit Supplies, n/10 GJ-2 P 4,780.00
20 Received refund on March 16 transaction GJ-2

ACCOUNT 201 ACCOUNTS PAYABL

DATE
ITEM POST DEBIT
MARCH 2 Purchased merchandise on account, Digao Publishers, 2/10,
GJ-1
n/30, FOB Destination
6 Purchased merchandise on account, Made Easy Bookstore,
GJ-1
2/10, n/30, FOB Shipping Point
10 Purchased merchandise on account, Digao Publishers, 2/10,
GJ-1
n/30, FOB Shipping Point
12 Payment on Digao Publishers on March 2 GJ-1 P 74,000.00
14 Partial payment on Made Easy on March 6 GJ-2 21,000.00
15 Received refund on March 10 transaction GJ-2 3,000.00
16 Purchase supplies on account, Olamit Supplies, n/10 GJ-2
18 Payment on Digao Publishers on March 10 GJ-2 23,500.00
20 Received refund on March 16 transaction GJ-2 1,280.00
25 Payment on Olamit Supplies on March 16 GJ-3 3,500.00
28 Payment for the balance on Made Easy on March 6 GJ-3 21,000.00
 CASH
CREDIT BALANCE
P 7,000.00
P 72,520.00 (65,520.00)
(55,620.00)
20,580.00 (76,200.00)
(57,390.00)
23,030.00 (80,420.00)
3,500.00 (83,920.00)
861.00 (84,781.00)
(78,901.00)
21,000.00 (99,901.00)
(P 90,171.00)

ACCOUNTS RECEIVABLE
CREDIT BALANCE

P 10,000.00

48,000.00

P 10,000.00 38,000.00
19,000.00 19,000.00

26,800.00

1,800.00 25,000.00
6,000.00 P 19,000.00

SUPPLIES
CREDIT BALANCE
P 4,780.00
P 1,280.00 P 3,500.00

ACCOUNTS PAYABLE
CREDIT BALANCE

P 74,000.00 P 74,000.00

42,000.00 II6,000.00

27,000.00 143,000.00

69,000.00
 48,000.00
45,000.00
4,780.00 49,780.00
26,280.00
25,000.00
21,500.00
P 500.00
GENERAL LEDGER
PAGE NUMBER GL-2

ACCOUNT 202 NOTES PAYABLE

DATE
ITEM POST DEBIT
MARCH 7 Freight bill from Super Express from shipment on March 6 GJ-1
11 Freight bill from Super Express for sale on March 9 GJ-1
26 Payment for freight charges for March 7 and 11 GJ-3 P 861.00

ACCOUNT 301 SALES

DATE
ITEM POST DEBIT
MARCH 3 Sold merchandise on account, Detoya Books Shop,
GJ-1
1/10, n/30, FOB Shipping Point
5 Cash Sales GJ-1
9 Sold merchandise on account, Recoletos Books,
GJ-1
1/10, n/30, FOB Destination
19 Sold merchandise on account, Sir Ed Trading, 2/10, n/30,
GJ-2
FOB Shipping Point
31 Cash Sales GJ-3

ACCOUNT 302 SALES DISCOUNT

DATE
ITEM POST DEBIT
MARCH 13 Received payment from Detoya's Book Shop on March 3 GJ-2 P 100.00
17 Received partialpayment from Recoletos Books on March 9 GJ-2 190.00
27 Received payment from Sir Ed Trading on March 19 GJ-3 120.00

ACCOUNT 303 SALES RETURNS AND ALLOW

DATE
ITEM POST DEBIT
MARCH 22 Refund from customers on March 19 transaction GJ-3 P 1,800.00

ACCOUNT 401 PURCHASES

DATE
ITEM POST DEBIT
MARCH 2 Purchased merchandise on account, Digao Publishers, 2/10,
GJ-1 P 74,000.00
n/30, FOB Destination
6 Purchased merchandise on account, Made Easy Bookstore,
GJ-1 42,000.00
2/10, n/30, FOB Shipping Point
10 Purchased merchandise on account, Digao Publishers, 2/10,
GJ-1 26,500.00
n/30, FOB Shipping Point

ACCOUNT 402 PURCHASE DISCOUN

DATE
ITEM POST DEBIT
MARCH 12 Payment on Digao Publishers on March 2 GJ-1
14 Partial payment on Made Easy on March 6 GJ-2
18 Payment on Digao Publishers on March 10 GJ-2
 NOTES PAYABLE
CREDIT BALANCE
P 570.00 P 570.00
291.00 861.00
P 0.00

SALES
CREDIT BALANCE

P 10,000.00 P 10,000.00

7,000.00 17,000.00

38,000.00 55,000.00

7,800.00 62,800.00

9,730.00 P 72,530.00

SALES DISCOUNT
CREDIT BALANCE
P 100.00
290.00
P 410.00

SALES RETURNS AND ALLOWANCES

CREDIT BALANCE
P 1,800.00

PURCHASES
CREDIT BALANCE

P 74,000.00

116,000.00

P 142,500.00

PURCHASE DISCOUNT
CREDIT BALANCE
P 1,480.00 P 1,480.00
420.00 1,900.00
470.00 P 2,370.00
GENERAL LEDGER
PAGE NUMBER GL-3

ACCOUNT 403 PURCHASE RETURNS AND ALLO

DATE
ITEM POST DEBIT
MARCH 15 Received refund on March 10 transaction GJ-2

ACCOUNT 404 FREIGHT IN

DATE
ITEM POST DEBIT
MARCH 7 Freight bill from Super Express from shipment on March 6 GJ-1 P 570.00
10 Purchased merchandise on account, Digao Publishers, 2/10,
GJ-1 500.00
n/30, FOB Shipping Point

ACCOUNT 405 FREIGHT OUT

DATE
ITEM POST DEBIT
MARCH 11 Freight bill from Super Express for sale on March 9 GJ-1 P 291.00
PURCHASE RETURNS AND ALLOWANCES
CREDIT BALANCE
P 3,000.00 P 3,000.00

FREIGHT IN
CREDIT BALANCE
P 570.00

P 1,070.00

FREIGHT OUT
CREDIT BALANCE
P 291.00
 MARIANO LERIN BOOKSTORE
TRIAL BALANCE
March 31, 2018

ACCOUNT DEBIT CREDIT

CASH (P 90,171.00)
ACCOUNTS RECEIVABLE 19,000.00
SUPPLIES 3,500.00
ACCOUNTS PAYABLE P 500.00
SALES 72,530.00
SALES DISCOUNT 410.00
SALES RETURNS AND ALLOWANCES 1,800.00
PURCHASES 142,500.00
PURCHASE DISCOUNT 2,370.00
PURCHASE RETURNS AND ALLOWANCES 3,000.00
FREIGHT IN 1,070.00
FREIGHT OUT 291.00
TOTAL P 78,400.00 P 78,400.00
 MARIANO LERN BOOKSTORE
STATEMENT OF PERFORMANCE
For the Period Ended March 31, 2018

SALES P 72,530.00
LESS: SALES DISCOUNT P 410.00
SALES RETURNS AND ALLOWANCES 1,800.00 (2,210.00)
NET SALES 70,320.00
LESS: COST OF GOODS SOLD 138,200.00
PURCHASES P 142,500.00
LESS: PUCHASE DISCOUNT (2,370.00)
PURCHASE RETURNS AND ALLOWANCES (3,000.00)
FREIGHT IN 1,070.00
GROSS INCOME (67,880.00)
LESS: OPERATING EXPENSE
FREIGHT OUT 291.00
NET LOSS (P 68,171.00)
 MARIANO LERIN BOOKSTORE
STATEMENT OF EQUITY
For the Period Ended March 31, 2018

M. LERIN, CAPITAL, BEGINNING P 0.00

NET LOSS (68,171.00)
M. LERIN, CAPITAL, MARCH 31 (P 68,171.00)
 MARIANO LERIN BOOKSTORE
STATEMENT OF FINANCIAL POSITION
March 31, 2018

ASSETS
CASH (P 90,171.00)
ACCOUNTS RECEIVABLE 19,000.00
SUPPLIES 3,500.00
TOTAL ASSETS (P 67,671.00)

LIABILITY AND EQUITY

ACCOUNTS PAYABLE P 500.00

OWNER'S EQUITY
M. LERIN, CAPITAL (68,171.00)

TOTAL LIABILITY AND EQUITY (P 67,671.00)

 MARIANO LERIN BOOKSTORE
STATEMENT OF CASH FLOWS
For the Period Ended March 31, 2018

CASH FLOW FROM OPERATING ACTIVITIES

CASH RECEIVED FROM
SALES P 16,730.00
ACCOUNTS RECEIVABLE 34,590.00
PURCHASE RETURNS AND ALLOWANCES 3,000.00
54,320.00
PAYMENT FOR
SUPPLIES (3,500.00)
FREIGHT IN (1,070.00)
FREIGHT OUT (291.00)
PURCHASES (137,130.00)
SALES RETURNS AND ALLOWANCES (1,800.00)
NET CASH FLOW FROM OPERATING ACTIVITIES (143,791.00) P 89,471.00

CASHFLOW FROM INVESTING ACTIVITIES 0.00

NET CASHFLOW FROM INVESTING ACTIVITIES 0.00

CASH FLOW FROM FINANCING ACTIVITIES 0.00

NET CASH FLOW FROM FINANCING ACTIVITIES 0.00

CASH BALANCE, MARCH 31, 2018 P 89,471.00