KC MERCHANDISE STORE KC MERCHANDISE STORE

CHART OF ACCOUNTS
Dec. 1 KC Concepcion invested ₱500,000 for the business KC PR ASSETS
Merchandise Store. 110 CASH
120 ACCOUNTS RECEIVABLE
Dec. 2 she bought supplies amounting to ₱3,000 cash 130 SUPPLIES
160 MECHANDISE INVENORY
Dec. 3 she bought merchandise item worth of ₱30,000 cash
170 EQUIPMENT
Dec. 5 KC bought computer set; ₱10,000, printer; ₱8,000, aircon; 180 FURNITURE & FIXTURES
₱5,000 cash 190 LAND
200 BUILDING
Dec. 6 KC sold items worth of ₱15,000 cash with cost of goods sold
₱7,500 PR EXPENSES
610 SALARY EXPENSE
Dec. 7 KC paid the additional merchandise item worth of ₱15,000 620 RENT EXPENSE
cash 630 UTILITIES EXPENSE
640 MISCELLAEOUS EXPENSE
Dec. 15 KC paid the 2 employees salary ₱8,000 650 COST OF GOODS SOLD
660 FREIGHT OUT
Dec. 16 a customer from Dec. 6 transaction returned damage goods,
KC refunded ₱2,000, cost of goods sold ₱1,000 PR LIABILITIES
310 ACCONTS PAYABLE
Dec. 17 KC bought cabinet ₱3,000 cash 320 NOTES PAYABLE
Dec. 18 KC receives ₱9,000 for items sold to be delivered; cost of PR OWNER’S EQUITY
goods sold is ₱5,000 410 CONCEPCION CAPITAL
420 CONCEPCION DRAWINGS
Dec. 19 KC paid the freight out of ₱200 cash
PR REVENEU
Dec. 20 KC paid the rent of ₱15,000; Utilities ₱7,000; miscellaneous
510 SALES
₱2,500 in cash
520 SALES RETURN & ALLOWANCES
Dec. 30 KC withdraw ₱6,000 cash for personal use 530 SALES DISCOUNT
 KC MERCHANDISE STORE
Dec. 23 KC sold ₱50,000 items on account
Dec. 26 The customer from Dec. 23 transaction paid partialpayment
of ₱25,000
Dec. 27 a customer bought ₱15,000 of merchandise items on account
Dec. 29 a customer from Dec. 27 transaction returned a damaged
item worth ₱3,500; cost of goods sold is worth ₱1,800
Dec. 30 KC receives full payment from Dec 27 transaction
CRUZ MERCHANDIZING STORE
Jan. 1 Dina Cruz invested ₱450,000 for his business with name Cruz
Merchandizing Store
Jan. 2 she bought inventory items to Padilla Trading amounting to
₱100,000 on account
Jan. 3 she bought computer set; ₱10,000, printer; ₱6,000, aircon;
₱10,000 cash
Jan. 3 she bought supplies worth of ₱5,000 cash
Jan. 4 Dina Cruz sold merchandise item worth ₱10,000 on account,
COS ₱6,000
Jan. 5 Cruz paid Jose Advertising Studio of ₱10,000
Jan. 7 Cruz receives payment from the customer last Jan. 4
transaction in full payment
Jan. 8 Cruz paid in partial payment to Padilla Trading of ₱50,000 cash
Jan. 10 Cruz returned worth of ₱5,000 damaged goods to Padilla
Trading
Jan. 15 Cruz paid the salaries of employees ₱20,000
Jan. 20 she paid the monthly rent of ₱10,000
Jan. 22 Cruz paid the electricity bill ₱5,000, internet; ₱2125 and water
₱289
Jan. 23 Dina sold ₱9,000 worth of items, COS ₱4,500
Jan. 24 a customer from Jan. 23 refund ₱1,500 and return damage
goods, COS ₱700
Jan. 25 Dina sold ₱10,000 merchandise items, COS ₱6,000
Jan. 26 Dina paid the freight of ₱250
Jan. 28 Dina withdraw ₱9,000 for personal use
Jan. 30 Dina paid full to Padilla Trading
Jan. 30 she also paid the miscellaneous expense of ₱3,000
 CRUZ MERCHANDIZING STORE
CHART OF ACCOUNTS

PR ASSETS
110 CASH
120 ACCOUNTS RECEIVABLE
130 NOTES RECEIVABLE
140 SUPPLIES
150 MECHANDISE INVENORY
160 EQUIPMENT

PR EXPENSES
510 RENT EXPENSE
520 UTILITY EXPENSE
530 MISCELLANEOUS EXPENSE
540 ADVERTISING EXPENSE
560 COST OF GOODS SOLD
570 FREIGHT OUT
580 SALARIES EXPENSE

PR LIABILITIES
210 ACCONTS PAYABLE
220 NOTES PAYABLE

PR OWNER’S EQUITY
310 CRUZ CAPITAL
311 CRUZ DRAWINGS

PR REVENEU
410 SALES
411 SALES RETURN & ALLOWANCES
412 SALES DISCOUNT