CD Merchandising

Worksheet
For the Period Ended December 31, 200A

Trial Balance Adjustments Adjusted TB Income Statement C, capital D, capital Statement of FP

Accounts Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 100,000 100,000 100,000
Accounts Rec. 21,000 21,000 21,000
Allow. for B/D 1,000 (2)2,100 3,100 3,100
Mdse Inv. Jan 1 240,000 240,000 240,000
Furniture & Fix. 40,000 40,000 40,000
Other Assets 60,000 60,000 60,000
Accounts Pay’ble 30,000 30,000 30,000
C,capital 150,000 150,000 150,000
C, drawing 60,000 60,000 60,000
D, capital 160,000 160,000 160,000
D, drawing 40,000 40,000 40,000
Sales 1,200,000 1,200,000 1,200,000
Purchases 732,000 732,000 732,000
Freight-in 5,000 5,000 5,000
Purchase Returns 7,000 7,000 7,000
Sale’s salaries 50,000 50,000 50,000
Office salaries 63,000 (3b)5,000 68,000 68,000
Advertising 26,500 26,500 26,500
Freight-out 43,500 43,500 43,500
Office expense 35,000 (3a)2,500 37,500 37,500
Travelling exp. 22,000 22,000 22,000
Misc. expense 10,000 10,000 10,000
1,548,000 1.548,000
Mdse. Inv. Dec.31 (1)270,000 270,000
Bad Debts (2)2,100 2,100 2,100
Accrued off. exp. (3a)2,500 2,500 2,500
Accrued off. Sal. (3b)5,000 5,000 5,000
Dep’n – F&F (4)4,000 4,000 4,000
Accum. Dep.F&F (4)4,000 4,000 4,000
13,600 13,600 1,561,600 1,561,600 1,240,600 1,447,000
Net Profits Php236,400 distributed as follows:
15% interest on beginning capital 36,000 15,000 21,000
25% bonus to C 59,100 59,100 ------
Salaries: C=9,000/m0; D=8,500/mo 210,000 108,000 102,000
Balance: equally (68,700) (34,350) ( 34,50)_________________
1,447,000 1,447,000 60,000 297,750 40,000 248,650 491,000 44,600
Net capital 237,750 208,650 446,400
297,750 297,750 248,650 248,650 491.000 491,000