Bookkeeping

BOOKKEEPING NC III
CASE 1
May of 2021, Ramz and John formed the RAMSKIT Partnership having a starting capital contribution of 200,000
each and agreed to share profits and losses equally.
CHART OF ACCOUNTS
Post/Ref Account Title Post/Ref Account Title

101 Cash 401 Service Revenues
102 Accounts Receivable 502 Salaries Expense
113 Input VAT 503 SSS, PhilHealth and Pag-Ibig
Contributions
114 Equipment 504 Rent Expense
114A Accumulated Depreciation-Office 505 Utilities Expense
Equipment
201 Accounts Payable 506 Supplies Expense
202 Withholding Taxes Payable 507 Transportation Expense
203 Expanded Withholding Taxes Payable 508 Depreciation Expense
204 SSS, PhilHealth and Pag-Ibig 509 Percentage Tax Expense
Contribution Payable
205 Utilities Payable 510 Miscellaneous Expense
206 Accrued Percentage Tax Payable
301 John, Capital
302 Ramz, Capital
303 John, Drawings
304 Ramz, Drawings
305 Income Summary
Please be guided on the partnership’s accounting policy:
1. The partnership uses special journals to record service revenues, cash receipts, and cash disbursements
in addition to general journal along with the subsidiary ledgers.
2. Depreciation on office equipment is 10% per year
3. Purchased of supplies are directly charged to expense
4. Percentage Tax is accrued monthly at 3% of service revenue.
POST CLOSING TRIAL BALANCE of RAMSKIT PARTNERSHIP as of May 31, 2021.

Debit Credit
Cash P255,000
Accounts Receivable 115, 000
Office Equipment 210, 000
Accum. Depreciation- Office Equipment P17, 500
Witholding Taxes Payable 800
Expanded Witholding Taxes Payable 500
SSS, PhilHealth and Pag-Ibig Contribution Payable 5, 550
Utilities Payable 3, 800
Accrued Percentage Tax Payable 6,750
Ramz, Capital 272, 550
Ramz, Capital 272, 550
RAMSKIT PARTNERSHIP
Dr. Miciano Rd Dumaguete City
Date: June 3
Invoice No. 8001
Client: CBA Company

Adress: Dauin Neg. Oriental
Particulars Amount
Service
Revenue Php50, 000
Total Php50,000
Prepared by: Ashley Bungart
RAMSKIT PARTNERSHIP
Date: June 8
Invoice No. 8002
Client: CHM Company

Adress: Bacong, Neg. Oriental
Particulars Amount
Service
Revenue Php100,000
Total Php100,000

RAMSKIT PARTNERSHIP
Dr. Miciano Rd. Dumaguete City
Date: June 20
Invoice No. 8003
Client: CCS Company

Adress: Sibulan, Neg. Oriental
Particulars Amount
Service
Revenue Php70,000
Total Php70,000
---------------------------------------------------------------------------------------------------------------------------
RAMSKIT PARTNERSHIP
Date: June 4
Official Receipt No. 5001
Client: CAS Corp

Adress: Zamboanguita Negros Oriental
Invoice: 3110
Particulars Amount
Amount Php40,000
Total Php40,000
Cash Check/ Php40,000
Prepared by: Nathan Bungart

RAMSKIT PARTNERSHIP
Date: June 5
Client: CE Corp.
Adress: Siaton, Negros Oriental
Invoice:
Particulars Amount
Cash Revenue Php20,000
Total Php20,000
RAMSKIT PARTNERSHIP
Date: June 10
Client: CBA Company

Adress: Dauin, Negros Oriental
Invoice: 8001
Particulars Amount
Amount Php50,000
Total Php50,000

RAMSKIT PARTNERSHIP
Date: June 15
Client: CA Company
Adress: Sta Catalina, Negros Oriental
Invoice: 1475
Particulars Amount
Amount Php75,000
Total Php75,000
--------------------------------------------------------------------------------------------------------------------------
RAMSKIT PARTNERSHIP
Date: June 5
Check Voucher No. 81003
Payee: Sierra Groups of Company
____________________________________________________________
Description Amount
Rent for June Php10,000
Expanded Witholding Tax (500)
Php9, 500
Check # 6210003
Approved by: Recorded by: Received by:
John R. Estrada _______________

RAMSKIT PARTNERSHIP
Date: June 10
Payee: BIR
____________________________________________________________
Description Amount
Witholding Tax Php800
Expanded Witholding Tax 500
Php1, 300
Check # 6210004
John R. Estrada _______________
RAMSKIT PARTNERSHIP
Date: June 10
Payee: SSS, Philhealth, Pagibig
____________________________________________________________
Description Amount
Employees’ Share P2, 050
Employer’s Share 3, 500
P5, 550
Check # 6210005
John R. Estrada _______________

RAMSKIT PARTNERSHIP
Date: June 10
Payee: Water District
____________________________________________________________
Description Amount
Water consumption - P800
May 2021
P800
Check # 6210006
John R. Estrada _______________
---------------------------------------------------------------------------------------------------------------------------
RAMSKIT PARTNERSHIP
Date: June 10
Payee: NORECO II
Description Amount
Electricity Usage P3,000

(May 2021)
P3, 000
Check # 6210007
John R. Estrada _______________

RAMSKIT PARTNERSHIP
Date: June 15
Payee: Cash
Description Amount
Payroll P24,000
Pag-Ibig (200)
PhilHealth (750)
P23, 050
Check # 6210008
John R. Estrada _______________
RAMSKIT PARTNERSHIP
Date: June 30
Payee: Cash
Description Amount
Payroll P24,000
SSS (1, 100)
Withholding Tax (800)
P22, 100
Check # 6210009
John R. Estrada _______________

RAMSKIT PARTNERSHIP
Date: June 30
Payee: John R. Estrada
Description Amount
Cash Withdrawal Php10,000

By J. Estrada
Php10,000
Check # 6210010
John R. Estrada _______________
RAMSKIT PARTNERSHIP
Date: June 30
Payee: Ramz Dagle
Description Amount
Cash Withdrawal Php10,000

By Ramz Dagle
Php10,000
Check # 6210011
John R. Estrada _______________

RAMSKIT PARTNERSHIP
Date: July 10
Payee: SSS, PhilHealth, Pag-ibig
Description Amount
Employer share on SSS,

PhilHealth, and Pag-Ibig
Contributions P3, 500
P3,500
Check # 6210012
John R. Estrada _______________
Account Number Account Name Check No.

3122-80005569 Ramskit Partnership 6210001
Date: 3-Jun
PAY TO THE
ORDER OF National Bookstore ₱ 1680
PESOS One thousand six hundred eighty only

3122-80005569
RICHIE NATIONAL BANK
DUMAGUETE CITY - BASLAY BRANCH Authorized Signature
DESMOND AVENUE COR NATHAN ST., DUMAGUETE CITY

Date: 5-Jun
PAY TO THE
ORDER OF Octagon Hardware ₱ 16, 800
PESOS Sixteen thousand eight hundred only

3122-80005569

Date: 5-Jun
PAY TO THE
ORDER OF Sierra Groups of Company ₱ 9, 500
PESOS Nine thousand five hundred only

3122-80005569

Date: 10-Jun
PAY TO THE
ORDER OF Bureau of Internal Revenue ₱ 1, 300
PESOS One thousand three hundred only

3122-80005569
Date: 10-Jun
PAY TO THE
ORDER OF ₱ 5, 550
SSS, Philhealth, and Pag-ibig
PESOS Five thousand five hundred fifty only

3122-80005569

Date: 10-Jun
PAY TO THE
ORDER OF Water District ₱ 800
PESOS Eight hundred only

3122-80005569

Date: 10-Jun
PAY TO THE
ORDER OF ₱ 3, 000
NORECO II
PESOS Three thousand pesos only

3122-80005569

Date: 15-Jun
PAY TO THE
ORDER OF ₱ 23, 050
CASH
PESOS Twenty-three thousand fifty only

3122-80005569

Date: 30-Jun
PAY TO THE
ORDER OF ₱ 22, 100
CASH
PESOS Twenty-two thousand one hundred only

3122-80005569

Date: 30-Jun
PAY TO THE
ORDER OF ₱ 10, 000
John Estrada
PESOS Ten thousand pesos only

3122-80005569

Date: 30-Jun
PAY TO THE
ORDER OF ₱ 10, 000
Ramz Dagle
PESOS Ten thousand pesos only

3122-80005569

Date: 10-Jul
PAY TO THE
ORDER OF ₱ 3, 500
SSS, PhilHealth, and Pag-ibig
PESOS Three thousand five hundred only

3122-80005569
--------------------------------------------------------------------------------------------------------------------------
National Bookstore
Dumaguete City
Date: June 3
Customer Ramskit Partnership

Address: Dr. Miciano Rd Dumaguete City
Invoice: COD
Particulars Qty Amount

Office Supplies P 1, 500
VAT 180
Total 1, 680
Cash Check/ P 1, 680
Prepared by: Edith Bandoles

Octagon Hardware
Dumaguete City
Date: June 5

Adress: Dr. Miciano Rd Dumaguete City
Invoice:

Office Equipment P15, 000
VAT 1, 800
Total 16, 800
Cash Check/ Php16, 800
Prepared by: Edith Bandoles
Sierra Groups of Company

Dumaguete City
Date: June 5

Invoice:

Rent-June 2021 P10, 000
Expanded Witholding Tax on rent (5, 000)
Total 9, 500
Cash Check/ P9, 500
Prepared by: Pablo Mercedez
BDO BANK
Dumaguete City
Date: June 10
PAYMENT SLIP
Payment for: BIR
Reference number: 852-542-345-000
Particulars Amount
Witholding Tax on compensation P800
Witholding Tax on rent 500
Total 1, 300
Cash Check/ P1, 300
BDO BANK
Dumaguete City
Date: June 10
PAYMENT SLIP
SSS, Philhealth,
Payment for: Pag-ibig
Reference number: A68-157-856-253
Particulars Amount
Employees' Share P2, 050
Employer's Share 3, 500
Total 5, 550
Cash Check/ P5, 550
Water District
Dumaguete City
Date: June 10

Invoice: 576100
Particulars Amount
Water Consumption P 800
(May 2021)
Total 800
Cash Check/ P 800
Prepared by: Arvin Tucaling
NORECO II
Dumaguete City
Date: June 10
Customer: Ramskit Partnership

Invoice: 654321
Particulars Amount
Electricity Usage P3, 000
(May 2021)
Total 3, 000
Cash Check/ P3, 000
Prepared by: Arnie Malaya

RAMSKIT PARTNERSHIP
PAYROLL SUMMARY
For the period June 1-15, 2021
GROSS Deductions NET
24, 000 Pag-ibig 200 23, 050
PhiHealth 750
Total 950
Total Check/ P23,050
Prepared by: Approved by
Ashley Bungart _______________ Rams
RAMSKIT PARTNERSHIP
PAYROLL SUMMARY
For the period June 16-30, 2021
GROSS Deductions NET
24, 000 SSS 1, 100 22, 100
WH Tax 800
Total 1, 900
Total Check/ P22, 100
Prepared by: Approved by
Ashley Bungart _______________ Rams

----------------------------------------------------------------------------------------------------------------------
Water District
Dumaguete City
Date: July 05
Ramskit
Customer Partnership
Particulars Amount
Water Consumption Php 500
(June 2021)
Total 500
Prepared by: Arvin Tucaling
NORECO II
Dumaguete City
Date: July 07

Particulars Amount
Electricty Usage P2, 000
(June 2021)
Total 2, 000
Prepared by: Lilia Tucaling

Bookkeeping

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BOOKKEEPING NC III

Post/Ref Account Title Post/Ref Account Title

Please be guided on the partnership’s accounting policy:

POST CLOSING TRIAL BALANCE of RAMSKIT PARTNERSHIP as of May 31, 2021.

Client: CBA Company

Prepared by: Ashley Bungart

Client: CHM Company

Prepared by: Ashley Bungart

Client: CCS Company

Prepared by: Ashley Bungart

Client: CAS Corp

Cash Check/ Php40,000

Prepared by: Nathan Bungart

Cash Check/ Php20,000

Prepared by: Nathan Bungart

Client: CBA Company

Cash Check/ Php50,000

Prepared by: Nathan Bungart

Cash Check/ Php75,000

Prepared by: Nathan Bungart

Approved by: Recorded by: Received by:

John R. Estrada _______________

Approved by: Recorded by: Received by:

John R. Estrada _______________

Approved by: Recorded by: Received by:

John R. Estrada _______________

Approved by: Recorded by: Received by:

John R. Estrada _______________

Electricity Usage P3,000

Approved by: Recorded by: Received by:

John R. Estrada _______________

Approved by: Recorded by: Received by:

John R. Estrada _______________

Approved by: Recorded by: Received by:

John R. Estrada _______________

Cash Withdrawal Php10,000

Approved by: Recorded by: Received by:

John R. Estrada _______________

Cash Withdrawal Php10,000

Approved by: Recorded by: Received by:

John R. Estrada _______________

Employer share on SSS,

Approved by: Recorded by: Received by:

John R. Estrada _______________

Account Number Account Name Check No.

PESOS One thousand six hundred eighty only

Account Number Account Name Check No.

PESOS Sixteen thousand eight hundred only

Account Number Account Name Check No.

PESOS Nine thousand five hundred only

Account Number Account Name Check No.

PESOS One thousand three hundred only

PESOS Five thousand five hundred fifty only

Account Number Account Name Check No.

PESOS Eight hundred only

Account Number Account Name Check No.

PESOS Three thousand pesos only

Account Number Account Name Check No.

PESOS Twenty-three thousand fifty only

Account Number Account Name Check No.

PESOS Twenty-two thousand one hundred only

Account Number Account Name Check No.

PESOS Ten thousand pesos only