Jate Caballero is an entrepreneur. She sxtarted a K-Pastry “JC Sweet Skies” requirements June 13, 2025.

June 13,2025 - Jate made an initial investment of ₱ 5,750,000.00

June 18,2025 – Purchase 2 Oven @ ₱ 17,200.00 each and at the same time 2 Microwave @ ₱ 23,800.00 each on
account. She made down payment of 15% on the said equipment.

June 20,2025 – Office Supplies of ₱ 1,658.00 was purchased and she bought sack of flour for ₱ 12,374.00

June 23,2025 – Fixed Rent of ₱ 21,350.00. She paid for 2 months (June – July) 2025

SUBTOTAL
June 29,2025 – The oven and microwave units that were purchased on June 18 were delivered. Paid the balance of ₱ 48,
952.00

July 1, 2025 – Baking Supplies ₱ 8,457.30 (cocoa powder and sugar)

July 5, 2025 – Paid Business Permits and other clearance for ₱ 11,380.00

July 8,2025 - Paid for advertising costs ₱ 2,500.00.

July 13,2025 – Purchase additional office supplies for ₱ 1,870.40

SUBOTAL
July 15,2025 – She paid electric bill amounting of ₱ 9,500.00 and water bill amounting of ₱ 5,400.00

July 18, 2025 - She paid ₱ 2,540.00 for the Social Security System (SSS). On the same day she paid ₱ 3,000.00 for the
Philippine Health Insurance Corporation (PhilHealth)

July 21,2025 - For three days after her opening, she earned the following income: July 21 ₱ 19,010.60, July 22 ₱
18,540.00, July 23 ₱ 17,175.35

SUBTOTAL
July 25,2025 - ₱ 19,901.90 was paid to the computer technician who set up the network connection for her business
operation. ₱ 17,070.25 she also paid the Internet service provider the amount of the Internet connection.

July 29,2025 – She purchased office supplies amounting to ₱ 2,050.75 and baking supplies ₱ 12,500.75 for the wet
ingredients.

July 30,2025 – Paid PAG-IBIG amounting of ₱ 600.00

August 5,2025 - Operations revenue in transit is ₱ 35,520.80 and ₱ 45,900.00 respectively.

August 12,2025 – Received an amount of ₱ 100,000.00 as a loan from a Metro Bank

August 18,2025 – Paid monthly Salaries and Wages of employee for ₱ 35,780.00

SUBTOTAL
August 20,2025 - Paid electric bill amounting of ₱ 11,780.00 and water bill amounting of ₱ 7,546.00

August 22,2025 - She paid ₱ 5,240.00 for the Social Security System (SSS). On the same day she paid ₱ 4,780.00 for the
Philippine Health Insurance Corporation (PhilHealth)

August 23,2025- Paid PAG-IBIG amounting ₱ 1,200.00

August 25,2025 – For this day, his operations revenue is ₱ 35,455.70. But on the same day. Jate made a withdrawal from
their business amounting to P155,000.00.

September 2,2025 – She paid the rent for the ₱ 12,150.50.

September 8,2025 – Purchase additional Baking Supplies for ₱ 13,470.00

SUBOTAL
September 15,2025 – Ms. Jate Caballero invested additional capital at ₱ 100,500.00 into the business. On the same day
she received services ₱ 7,000.00 that will be collected after 3 days as considered as an additional investment.

September 17,2025 - For three days, she earned the following income: September 17 ₱ 25,050.56, September 18 ₱
23,870.90, September 19 ₱ 20,198.55

September 19,2025 – She paid electric bill amounting of ₱ 12,643.20 and water bill amounting of ₱ 9,327.60. Collected
the service rendered last September 17.

SUBOTAL
September 20,2025 – Paid an amount of ₱ 75,000.00 as a loan from the Metro Bank. On the same day she paid PAG-IBIG
amounting ₱ 1,500.00

September 22,2025 – The cashier had an emergency purchased paper receipt for the business amounting to ₱ 1,689.00.
On the same day she purchased lacking ingredients that need to be used amounting ₱ 24,850.99

September 24,2025 - Paid ₱ 4,240.00 for the Social Security System (SSS). On the same day she paid ₱ 4,000.00 for the
Philippine Health Insurance Corporation (PhilHealth)

TOTAL
 DATE TRANSACTIONS JE# DEBIT CREDIT
June 13,2025 Cash ₱ 5,750,000.00
Capital – Caballero #01 ₱ 5,750,000.00
To record investment of Ms. Caballero
#
18 Baking Machine Equipment 82,000.00
Accounts Payable - Baking Machine #02 82,000.00
Purchase oven and microwave unit on account
#
Accounts Payable – Baking Machine 12,300.00
Cash #03 12,300.00
Down payment for oven and microwave unit
#
20 Office Supplies 1,658.00
Cash #04 1,658.00
Purchase office supplies
#
Baking Supplies 12,374.00
Cash #05 12,374.00
To record the sack of flour
#
23 Rent Expense 42,700.00
Cash #06 42,700.00
To record rent paid for the month of June and July
SUBTOTAL ₱5,901,032.00 ₱5,901,032.00
29 Accounts Payable – Baking Machine 48,952.00
Cash #07 48,952.00
To record payment for oven and microwave unit
#
July 1 Baking Supplies 8,457.30
Cash #08 8,457.30
To record the cocoa powder and sugar
#
5 Business Taxes and License Expense 11,380.00
Cash #09 11,380.00
Paid business permit for a year
#
8 Advertising Expense 2,500.00
Cash #10 2,500.00
To record goods distributed as samples
#
13 Office Supplies 1,870.40
Cash #11 1,870.40
To record additional office supplies
SUBTOTAL ₱5,974,191.70 ₱5,974,191.70
15 Electric Expense 9,500.00
Cash #12 9,500.00
To record the electric bills for the month of June
#
Water Expense 5,400.00
Cash #13 5,400.00
 To record the water bills for the month of June
#
18 SSS Expense 2,540.00
Cash #14 2,540.00
To record the payment in SSS
#
PhilHealth Expense 3,000.00
Cash #15 3,000.00
To record the payment in PhilHealth
#
21 Cash 19,010.60
Income Revenue #16 19,010.60
To record income on July 21
#
Cash 18,540.00
Income Revenue #17 18,540.00
To record income on July 22
#
Cash 17,175.35
Income Revenue #18 17,175.35
To record income on July 23
SUBTOTAL ₱6,049,357.6 ₱6,049,357.65
25 Network Connection Expense 19,901.90
Cash #15 19,901.90
To record Set up network connection
#
Internet Connection Expense 17,070.25
Cash #16 17,070.25
To record Internet service for the month
#
29 Office Supplies 2,050.75
Cash #17 2,050.75
Purchased office supplies
#
Baking Supplies 12,500.75
Cash #18 12,500.75
To record the wet ingredients
#
30 PAG-IBIG Expense 600.00
Cash #19 600.00
To record the payment in PAG-IBIG
#
August 5 Cash 81,420.80
Income Revenue #20 81,420.80
To record income on August 5 and 6
#
12 Cash 100,000.00
Accounts Payable – Metro Bank #21 100,000.00
Received bank loan from Metro Bank
#
18 Salaries and Wages Expense 35,780.00
 Cash #22 35,780.00
Payment of monthly wages
SUBTOTAL ₱6,318,682.10 ₱6,318,682.10
20 Electric Expense 11,780.00
Cash #23 11,780.00
To record the electric bills for the month of July
#
Water Expense 7,456.00
Cash0 #24 7,456.00
To record the water bills for the month of July
#
22 SSS Expense 5,240.00
Cash #25 5,240.00
To record the payment in SSS
#
PhilHealth Expense 4,780.00
Cash #26 4,780.00
To record the payment in PhilHealth
#
23 PAG-IBIG Expense 1,200.00
Cash #27 1,200.00
To record the payment in PAG-IBIG
#
25 Cash 35,455.70
Income Revenue #28 35,455.70
To record income on August 25
#
Capital Withdrawal 155,000.00
Cash #29 155,000.00
To record withdrawal of Jate Caballero from the
Investment
#
September 2 Rent Expense 12,150.50
Cash #30 12,150.50
To record rent paid for the month of August
#
8 Baking Supplies 13,470.00
Cash #31 13,470.00
To record additional baking supplies
SUBTOTAL ₱6,565,214.30 ₱6,565,214.30
15 Cash 100,500.00
Capital – Caballero #32 100,500.00
To record additional investment
#
Accounts Receivable 7,000.00
Capital – Jate Caballero #33 7,000.00
To record the rendered services
#
17 Cash 25,050.56
Income Revenue #34 20,050.56
To record the income on Sep 17
 #
Cash 23,870.90
Income Revenue #35 23,870.90
To record the income on Sep 18
#
Cash 20,198.55
Income Revenue #36 20,198.55
To record the income on Sep 19
#
19 Electric Expense 12,643.20
Cash #37 12,643.20
To record the electric bills for the month of August
#
Water Expense 9,327.60
Cash #38 9,327.60
To record the water bills for the month of August
#
Cash 7,000.00
Accounts Receivable #39 7,000.00
To record the collected rendered services
SUBTOTAL ₱6,770,805.11 ₱6,770,805.11
20 Accounts Payable –Metro Bank 75,000.00
Cash #40 75,000.00
To record the paid loan from Metro Bank
#
PAG-IBIG Expense 1,500.00
Cash #41 1,500.00
To record the payment in PAG-IBIG
#
22 Office Supplies 1,689.00
Cash #42 1,689.00
To record purchased office supplies
#
Baking Supplies 24,850.99
Cash #43 24,850.99
Purchased the lacking ingredients
#
24 SSS Expense 4,240.00
Cash #44 4,240.00
To record the payment in SSS
#
PhilHealth Expense 4,000.00
Cash #45 4,000.00
To record the payment in PhilHealth
TOTAL ₱6,882,085.10 ₱6,882,085.10
 CASH
DATE DEBIT CREDIT 9,327.60
June 13 ₱ 5,750,000.00 7,000.00
20 75,000.00
18 ₱ 12,300.00
1,500.00
20 1,658.00
22 1,689.00
12,374.00 24,850.99
23 42,700.00 24 4,240.00
29 48,952.00 4,000.00
July 1 8,457.30 TOTAL ₱ 6,198,222.46 ₱ 594,952.64
₱ 5,603,269.82
5 11,380.00
8 2,500.00
13 1,870.40
15 9,500.00
CAPITAL – CABALLERO
5,400.00
18 2,540.00 DATE DEBIT CREDIT
3,000.00 June 13 ₱ 5,750,000.00
August 25 ₱ 155,000.00
21 19,010.60
September 15 100,500.00
22 18,540.00
7,000.00
23 17,175.35 TOTAL ₱ 155,000.00 ₱ 5,857,500.00
25 19,901.90 ₱ 5,702,500.00
17,070.25
29 2,050.75
12,500.75
30 600.00 BAKING MACHINE EQUIPMENT
August 5 81,420.80
DATE DEBIT CREDIT
12 100,000.00 June 18 ₱ 82,000.00
18 35,780.00 TOTAL ₱ 82.000.00 ₱ - 0-
20 11,780.00 ₱ 82.000.00
7,546.00
22 5,240.00
4,780.00
23 1,200.00 ACCOUNTS PAYABLE – BAKING MACHINE
25 35,455.70
DATE DEBIT CREDIT
155,000.00 June 18 ₱ 82,000.00
September 2 12,150.50 ₱ 12,300.00
8 13,470.00 29 48,952.00
15 100,500.00 TOTAL ₱ 61,252.00 ₱ 82,000.00
₱ 20,748.00
17 25,050.56
18 23,870.90
19 20,198.55
12,643.20
 OFFICE SUPPLIES INCOME – REVENUE
DATE DEBIT CREDIT DATE DEBIT CREDIT
June 20 ₱ 1,658.00 July 21 ₱ 19,010.60
July 13 1,870.40 22 18,540.00
29 2,050.75 23 17,175.35
September 22 1,689.00 August 5 81,420.80
TOTAL ₱ 7,268.15 ₱ - 0- 25 35,455.70
₱ 7,268.15 September 17 25,050.56
18 23,870.90
19 20,198.55
BAKING SUPPLIES TOTAL ₱ - 0- ₱ 240,722.46
₱ 240,722.46
DATE DEBIT CREDIT
June 20 ₱ 12,374.00
July 1 8,457.30
NETWORK CONNECTION EXPENSE
29 12,500.75
September 8 13,470.00 DATE DEBIT CREDIT
22 24,850.99 July 25 ₱ 19,901.90
TOTAL ₱ 71,653.04 ₱ - 0- TOTAL ₱ 19,901.90 ₱ - 0-
₱ 71,653.04 ₱ 19,901.90

RENT EXPENSE
DATE DEBIT CREDIT INTERNET CONNECTION EXPENSE
June 23 ₱ 42,700.00
12,150.50
DATE DEBIT CREDIT
September 2
July 25 ₱ 17,070.25
TOTAL ₱ 54,850.50 ₱ - 0-
TOTAL ₱ 17,070.25 ₱ - 0-
₱ 54,850.50
₱ 17,070.25

TAXES AND LICENSE ACCOUNTS PAYABLE – METRO BANK

DATE DEBIT CREDIT
DATE DEBIT CREDIT
July 5 ₱ 11,380.00
August 22 ₱ 100,000.00
TOTAL ₱ 11,380.00 ₱ - 0-
September 20 ₱ 75,000.00
₱ 11,380.00
TOTAL ₱ 75,000.00 ₱ 100,000.00
₱ 25,000.00

ADVERTISING EXPENSE
DATE DEBIT CREDIT SALARIES AND WAGES EXPENSE
July 8 ₱ 2,500,00
DATE DEBIT CREDIT
TOTAL ₱ 2,500.00 ₱ - 0-
August 18 ₱ 35,780.00
₱ 2,500.00
TOTAL ₱ 35,780.00 ₱ - 0-
₱ 35,780.00
 ELECTRIC EXPENSE ACCOUNTS RECEIVABLE
DATE DEBIT CREDIT DATE DEBIT CREDIT
July 15 ₱ 9,500.00 August 15 ₱7,000.00
August 20 11,780.00 September 19 ₱ 7,000.00
September 19 12,643.20 TOTAL ₱ 7,000.00 ₱ 7,000.00
TOTAL ₱ 33,923.20 ₱ - 0- ₱ - 0- ₱ - 0-
₱ 33,923.20

WATER EXPENSE
DATE DEBIT CREDIT
July 15 ₱ 5,400.00
August 20 7,546.00
September 19 9,327.60
TOTAL ₱ 22,273.60 ₱ - 0-
₱ 22,273.60

SSS EXPENSE
DATE DEBIT CREDIT
July 18 ₱ 2,540.00
August 22 5,240.00
September 24 4,240.00
TOTAL ₱ 12,020.00 ₱ - 0-
₱ 12,020.00

PHILHEALTH EXPENSE
DATE DEBIT CREDIT
July 18 ₱ 3,000.00
August 22 4,780.00
September 24 4,000.00
TOTAL ₱ 11,780.00 ₱ - 0-
₱ 11,780.00

PAG-IBIG EXPENSE
DATE DEBIT CREDIT
July 30 ₱ 600.00
August 23 1,200.00
September 20 1,500.00
TOTAL ₱ 3,300.00 ₱ - 0-
₱ 3,300.00
 JC Sweet Skies K-Pastry
Balance Sheet
As of September 15,2025

ASSETS
Current Assets:
Cash ₱ 5,603,269.82
Office Supplies 7,268.15
Baking Supplies 71,653.04
Accounts Receivable 0
Total Current Assets ₱5,682,191.01
Non-Current Assets:
Baking Machine Equipment 82,000.00

Total Assets ₱ 5,764,191.01

LIABILITIES
Current Liabilities:
Accounts Payable – Baking Machine ₱ 20,748.00
Long Term Overdue:
Accounts Payable – Metro Bank 25,000.00
Total Liabilities ₱ 45,748.00
CAPITAL
Capital
Jate Caballero Capital 5,857,500.00
Less: Capital Drawings ( 155,000.00) 5,702,500.00
Total Liabilities and Capital ₱ 5,748,248.00
Add/Deduct
Net Income/Loss 15,943.01

Total Liabilities and Capital + Income ₱ 5,764,191.01

 JC Sweet Skies
Income Statement
As of September 15,2025

Income Revenue ₱ 240,722.46

Less Expenses:
Rent Expense ₱ 54,850.50

Network Expense 19,901.90

Internet Expense 17,070.25

Taxes and License Expense 11,380.00

Salaries and Wages Expense 35,780.00

Advertising Expense 2,500.00

Electric Expense 33,923.20

Water Expense 22,273.60

SSS Expense 12,020.00

PhilHealth Expense 11,780.00

PAG-IBIG Expense 3,300.00

Total Expense ₱ 224,779.45

Net Income / Net Loss ₱ 15,943.01