WAGWAG ENTERPRISES

PRACTICE SET

-CCM
 PURCHASE JOURNAL

Accounts Payable
Date Customer P.O. # PR Purchases (debit)
(credit)
200x
Sept. 1 FAX # 781 ^ 4,500.00 4,500.00
Esteban # 782 ^ 6,300.00 6,300.00
YANG's # 783 ^ 6,000.00 6,000.00
Sept. 6 Capital Goods # 784 ^ 16,000.00 16,000.00
LEE # 785 ^ 9,000.00 9,000.00
New City # 786 ^ 6,000.00 6,000.00
Sept. 7 Various Creditors CPJ 45,000.00 45,000.00
Sept. 10 Various Creditors CPJ 18,000.00 18,000.00
Sept. 11 New City # 787 ^ 45,000.00 45,000.00
Esteban # 788 ^ 17,000.00 17,000.00
Sept. 14 Various Creditors CPJ 90,000.00 90,000.00
Sept. 16 Andy & Son # 789 ^ 35,000.00 35,000.00
HANZ # 790 ^ 28,000.00 28,000.00
YANG's # 791 ^ 34,000.00 34,000.00
Sept. 20 Various Creditors CPJ 67,000.00 67,000.00
Sept. 21 Capital Goods # 792 ^ 34,000.00 34,000.00
HANZ # 793 ^ 42,000.00 42,000.00
Roberto # 794 ^ 50,000.00 50,000.00
Sept. 23 Various Creditors CPJ 34,500.00 34,500.00
Sept. 29 Various Creditors CPJ 6,000.00 6,000.00
Sept. 30 Cute # 797 ^ 9,700.00 9,700.00
FAX # 798 ^ 14,000.00 14,000.00
LEE # 799 ^ 46,000.00 46,000.00
Roberto # 800 ^ 20,000.00 20,000.00
Esteban # 801 ^ 3,000.00 3,000.00

686,000.00 686,000.00
(510) (310)
 checking

-
-
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-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
note: missing P.O. # 7 -
-
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-
-
-
-

-
 ACCOUNTS PAYABLE LEDGERS

1
Name: ANDY & SON Terms: 2/10, n/30
Address: 42 Otek, Baguio City
Date Explanation Ref. Debit Credit Balance
200x
Sept. 16 P.O. # 789 PJ 35,000.00 35,000.00
Sept. 21 Paid in full CPJ 35,000.00 -

2
Name: CAPITAL GOODS Terms: 2/10, n/30
Address: 5 Happy Homes, Baguio City
Date Explanation Ref. Debit Credit Balance
200x
Sept. 6 P.O. 784 PJ 16,000.00 16,000.00
Sept. 7 Paid in full CPJ 16,000.00 -
Sept. 21 P.O. 792 PJ 34,000.00 34,000.00
Sept. 23 Paid in full 34,000.00 -

3
Name: CUTE Terms: 2/10, n/30
Address: 50 Woodville, La Trinidad, Benguet
Date Explanation Ref. Debit Credit Balance
200x
Sept. 30 P.O. 797 PJ 9,700.00 9,700.00

4
Name: ESTEBAN Terms: 1/10, n/30
Address: 43 Bakakeng, Baguio City
Date Explanation Ref. Debit Credit Balance
200x
 Sept. 1 P.O. # 782 PJ 6,300.00 6,300.00
Sept. 9 Paid in full CPJ 6,300.00 -
Sept. 11 P.O. # 788 PJ 17,000.00 17,000.00
Sept. 30 P.O. # 801 PJ 3,000.00 20,000.00

5
Name: FAX Terms: 2/10, n/30
Address: 16 Badihoy Rd., Baguio City
6 Date Explanation Ref. Debit Credit Balance
200x
Name: HANZ Terms: 2/10, n/30
31-Aug
Address: Beg. Balance Q.M., Baguio City
100 Everlasting SAP 16,700.00 16,700.00
7 Date P.O. # 781
Explanation PJ
Ref. Debit 4,500.00
Credit 21,200.00
Balance
Sept.
200x3 Paid in Full CPJ 4,500.00 16,700.00
Name: LEE Terms: n/30
Sept.16
Sept. 4 Paid #the
P.O. 790balance CPJ 16,700.00 -
Address: 15 Campo Sioco, Baguio City PJ 28,000.00 28,000.00
Sept.
Sept. 30 P.O. # 798 PJ 14,000.00 14,000.00
Date20 CM Explanation CPJ
Ref. 1,200.00
Debit Credit 26,800.00
Balance
Sept.
200x21 P.O. # 793 PJ 42,000.00 68,800.00
Sept.
31-Aug21 Paid
Beg. in full
Balance CPJ
SAP 26,800.00 15,600.00 42,000.00
15,600.00
Sept.
Sept.246 Paid #in785
P.O. full CPJ
PJ 42,000.00 9,000.00 -
24,600.00
Sept. 9 Paid in full CPJ 9,000.00 15,600.00
Sept. 30 P.O. # 799 PJ 46,000.00 61,600.00
8
Name: NEW CITY Terms: 2/10, n/30
Address: 60 Tacay Rd., Baguio City
9 Date Explanation Ref. Debit Credit Balance
200x
Name: ROBERTO Terms: 1/15, n/30
Sept. 6
Address: P.O. # 786 Wood, Baguio CityPJ
830 Leonard 6,000.00 6,000.00
10 Sept.
Date11 P.O. # 787
Explanation PJ
Ref. Debit 45,000.00
Credit 51,000.00
Balance
Sept.
200x23 Paid in full CPJ 6,000.00 45,000.00
Name: YANG'S Terms: 2/10, n/30
31-Aug
Address: Beg. Balance
2 Rizal Park, Baguio City SAP 13,000.00 13,000.00
Sept.
Date4 Paid theExplanation
balance CPJ
Ref. 13,000.00
Debit Credit Balance-
Sept.
200x21 P.O. # 794 PJ 50,000.00 50,000.00
Sept.
31-Aug23 Paid in full
Beg. Balance CRJ
SAP 50,000.00 11,000.00 -
11,000.00
Sept. 30 P.O. # 800
P.O. # 783 PJ
PJ 20,000.00
6,000.00 20,000.00
17,000.00
Sept. 3 Paid in full CPJ 6,000.00 11,000.00
Sept. 9 CM CPJ 500.00 10,500.00
Sept. 16 P.O. # 791 PJ 34,000.00 44,500.00
Sept. 28 Paid in full CPJ 34,000.00 10,500.00
WAGWAG ENTERPRISES
Schedule of Accounts Payable
September 30, 200x

Cute 9,700.00
Esteban 20,000.00
FAX 14,000.00
LEE 61,600.00
New City 45,000.00
Roberto 20,000.00
YANG's 10,500.00
Total 180,800.00
Checking:
56,300.00
686,000.00
(561,500.00)
180,800.00
 CASH PAYM

Account Accounts Payable

Date Check No. Particulars PR
Code (debit)
200x
Sept. 1 Rent Expense 650
Office Supplies 170
Store Supplies 160
Sept. 2 Advertising 620
FAX ^ 4,500.00
YANG's ^ 6,000.00
Sept. 4 Salaries 610
FAX ^ 16,700.00
Roberto ^ 13,000.00
Sept. 6 Office Supplies 170
Sept. 7 Capital Goods ^ 16,000.00
Various Creditors PJ 45,000.00
Sept. 8 Freight In 520
Misc. General Expense 710
Advertising 620
Store Supplies 160
Sept. 9 YANG's CM ^ 500.00
LEE ^ 9,000.00
Esteban ^ 6,300.00
Sept. 10 Juan Wagwag, Drawing 330
Freight In 520
Various Creditors PJ 18,000.00
Office Supplies 170
Misc. General Expense 710
Sept. 11 Salaries 610
Sept. 14 Various Creditors PJ 90,000.00
Advertising 620
Sept. 15 Misc. General Expense 710
Prepaid Insurance 190
Sept. 18 Misc. General Expense 710
Misc. Selling Expense 680
Salaries 610
Sept. 20 Advertising 620
Various Creditors PJ 67,000.00
HANZ CM ^ 1,200.00
Juan Wagwag, Drawing 330
Advertising Supplies 630
Misc. Selling Expense 680
Sept. 21 Andy & Son ^ 35,000.00
HANZ ^ 26,800.00
Sept. 23 Capital Goods ^ 34,000.00
 New City ^ 6,000.00
Roberto ^ 50,000.00
Various Creditors PJ 34,500.00
Sales R & A CM
Sept. 24 HANZ ^ 42,000.00
Misc. General Expense 710
Advertising Supplies 630
Sept. 27 Misc. General Expense 710
Sept. 28 YANG's ^ 34,000.00
Sept. 29 Various Creditors PJ 6,000.00

561,500.00
(310)
ENT JOURNAL

Purchase Discount Purchase R & A

Cash (credit) Sundry (debit)
(credit) (credit) checking

25,000.00 25,000.00 -
650.00 650.00 -
1,500.00 1,500.00 -
900.00 900.00 -
4,410.00 90.00 -
5,880.00 120.00 -
70,000.00 70,000.00 -
16,700.00 -
13,000.00 -
720.00 720.00 -
15,680.00 320.00 -
45,000.00 -
700.00 700.00 -
2,800.00 2,800.00 -
60.00 60.00 -
100.00 100.00 -
500.00 -
9,000.00 -
6,237.00 63.00 -
10,000.00 10,000.00 -
500.00 500.00 -
18,000.00 -
300.00 300.00 -
940.00 940.00 -
70,000.00 70,000.00 -
90,000.00 -
900.00 900.00 -
3,000.00 3,000.00 -
3,100.00 3,100.00 -
1,500.00 1,500.00 -
7,500.00 7,500.00 -
70,000.00 70,000.00 -
4,000.00 4,000.00 -
67,000.00 -
1,200.00 -
10,000.00 10,000.00 -
1,000.00 1,000.00 -
150.00 150.00 -
34,300.00 700.00 -
26,264.00 536.00 -
33,320.00 680.00 -
 6,000.00 -
49,500.00 500.00 -
34,500.00 -
2,500.00 2,500.00 -
41,160.00 840.00 -
1,200.00 1,200.00 -
150.00 150.00 -
120.00 120.00 -
34,000.00 -
6,000.00 -

845,241.00 3,849.00 1,700.00 289,290.00 -

(110) (540) (530) (^)
 SALES JOURNAL

Accounts Receivable
Date Customer Inv. No. PR Sales (credit)
(debit)
200x
Sept. 2 J&B # 0201 ^ 6,900.00 6,900.00
Mc Cario # 0202 ^ 10,000.00 10,000.00
R&S # 0203 ^ 5,000.00 5,000.00
Sept. 4 Various Customers CS Inv. 79,000.00 79,000.00
Sept. 6 Dagupan, Inc. # 0204 ^ 9,600.00 9,600.00
EverGood # 0205 ^ 2,500.00 2,500.00
ODOC # 0206 ^ 5,000.00 5,000.00
Sept. 8 B&S # 0207 31,000.00 31,000.00
Kool # 0208 65,000.00 65,000.00
TONY # 0209 14,000.00 14,000.00
WEAR # 0210 24,000.00 24,000.00
Sept. 11 Various Customers CS Inv. 68,000.00 68,000.00
Sept. 13 Abanao Shop # 0211 ^ 86,000.00 86,000.00
B&C # 0212 ^ 74,000.00 74,000.00
ODOC # 0213 ^ 25,000.00 25,000.00
Sept. 18 EverGood # 0214 ^ 44,500.00 44,500.00
K&S # 0215 ^ 39,500.00 39,500.00
Mc Cario # 0216 ^ 18,000.00 18,000.00
Various Customers CS Inv. 109,800.00 109,800.00
Sept. 22 Abanao Shop # 0217 ^ 50,000.00 50,000.00
HC # 0218 ^ 69,000.00 69,000.00
Sept. 24 Dagupan, Inc. # 0219 ^ 19,000.00 19,000.00
Kool # 0220 ^ 60,000.00 60,000.00
ODOC # 0221 ^ 4,300.00 4,300.00
Various Customers CS Inv. 74,000.00 74,000.00
Sept. 29 Dagupan, Inc. # 0222 ^ 86,000.00 86,000.00
R&S # 0223 ^ 120,000.00 120,000.00
Sept. 30 Various Customers CS Inv. 43,500.00 43,500.00

1,242,600.00 1,242,600.00
(130) (420)
checking

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-
 ACCOUNTS RECEIVABLE LEDGERS

1
Name: ABANAO SHOP Terms:
Address: 42 Abanao, Baguio City
Date Explanation Ref. Debit Credit
200x
Sept. 13 S.I. # 0211 SJ 86,000.00
Sept. 14 Paid in full CRJ 86,000.00
Sept. 22 S.I. # 0217 SJ 50,000.00
Sept. 24 Paid in full CRJ 50,000.00

2
Name: B&C Terms:
Address: 16 Harrison Rd., Baguio City
Date Explanation Ref. Debit Credit
200x
31-Aug Beg. Balance SAR 11,600.00
Sept. 13 S.I. # 0212 SJ 74,000.00
Sept. 14 Paid in full CRJ 74,000.00

3
Name: B&S Terms:
Address: 1489 Magsaysay St., Baguio City
Date Explanation Ref. Debit Credit
200x
Sept. 8 S.I. # 0207 SJ 31,000.00

4
Name: DAGUPAN INC. Terms:
Address: 84 Lake Drive, Baguio City
Date Explanation Ref. Debit Credit
200x
Sept. 6 S.I. # 0204 SJ 9,600.00
Sept. 14 Paid in full CRJ 9,600.00
 Sept. 24 S.I. # 0219 SJ 19,000.00
Sept. 28 Paid in full CRJ 19,000.00
Sept. 29 S.I. # 0222 SJ 86,000.00

5
Name: EVERGOOD Terms:
Address: 542 Session Rd., Baguio City
6 Date Explanation Ref. Debit Credit
200x
Name: HC Terms:
31-Aug Beg.
3018Balance
Bonifacio St., Baguio CitySAR 10,000.00
Address:
7 Sept.
Date 3 Paid in full
Explanation CRJ
Ref. Debit 10,000.00
Credit
Sept.
200x 6 S.I. # 0205 SJ 2,500.00
Name: J&B Terms:
Sept. 14 Paid
Sept.22 S.I. in full CRJ 2,500.00
Address: 135#Leonard
0218 Wood, Baguio CitySJ 69,000.00
8 Sept. 18
Sept.24 S.I. # 0214
Paid inExplanation
full SJ
CRJ 44,500.00 69,000.00
Date Ref. Debit Credit
Sept. 28 Paid in full CRJ 44,500.00
Name:200x K&S Terms:
Sept.
Address: 2 S.I.Otek
44 # 0201
St., Baguio City SJ 6,900.00
Sept. 10 Paid in full CRJ 6,900.00
 Date Explanation Ref. Debit Credit
200x
Sept. 18 S.I. # 0215 SJ 39,500.00
Sept. 28 Paid in full CRJ 39,500.00

9
Name: KOOL Terms:
Address: 99 Rivera St., Baguio City
Date Explanation Ref. Debit Credit
200x
10 Sept. 8 S.I. # 0208 SJ 65,000.00
Name: MC CARIO Terms:
Sept. 24 S.I. # 0220 SJ 60,000.00
Address: 871 Brookside, Baguio City
Sept.
Date28 Paid inExplanation
full CRJ
Ref. Debit 60,000.00
Credit
200x
11 31-Aug Beg. Balance SAR 9,000.00
Name: ODOC Terms:
S.I. # 0202 SJ 10,000.00
Address: 42 Badihoy Rd., Baguio City
Sept.
Date7 CM forExplanation
Sales Returns CRJ
Ref. Debit 150.00
Credit
Sept.
200x10 Paid in full CRJ 9,850.00
Sept.
Sept.18
6 S.I.
S.I. ## 0216
0206 SJ
SJ 18,000.00
5,000.00
Sept.
Sept.28
7 Paid in full
Paid in full CRJ
CRJ 18,000.00
5,000.00
Sept. 13 S.I. # 0213 SJ 25,000.00
Sept. 14 CM CRJ 25,000.00
Sept. 24 S.I. # 0221 SJ 4,300.00
Sept. 29 CM CRJ 150.00
12
Name: R&S Terms:
Address: 02 Harrison Rd., Baguio City
13 Date Explanation Ref. Debit Credit
200x
Name: TONY Terms:
Address: 2
Sept. S.I. # 0203 Baguio City
1 Marcoville, SJ 5,000.00
14 Sept.
Date10 Paid inExplanation
full CRJ
Ref. Debit 5,000.00
Credit
Sept.
200x29 S.I. # 0223 SJ 120,000.00
Name: WEAR Terms:
31-Aug
Address: Beg. Balance Rd., Baguio City
57 Ferguson SAR 8,000.00
Sept.
Date3 Paid inExplanation
full CRJ
Ref. Debit 8,000.00
Credit
Sept.
200x8 S.I. 0209 SJ 14,000.00
31-Aug Beg. Balance SAR 5,000.00
Sept. 3 Paid in full CRJ 5,000.00
Sept. 8 S.I. # 0210 SJ 24,000.00
 2/10, n/30 WAGWAG ENTERPRISES
Schedule of Accounts Receivab September 30, 200x
Balance

86,000.00
- B&C B&S Dagupan Kool
50,000.00 Mc Cario ODOC
- R&S TONY WEAR
Total

2/10, n/30

Balance

11,600.00
85,600.00
11,600.00

2/10, n/30

Balance

31,000.00

2/10, n/30

Balance

9,600.00
-
19,000.00
- 86,000.00

2/10, n/30

Balance

10,000.00
-
2,500.00
-
44,500.00
-

2/10, n/30

Balance

69,000.00
-

2/10, n/30

Balance

6,900.00
-

2/10, n/30
Balance

39,500.00
-

2/10, n/30

Balance

65,000.00
125,000.00
65,000.00

2/10, n/30

Balance

9,000.00
19,000.00
18,850.00
9,000.00
27,000.00
9,000.00

2/10, n/30

Balance

5,000.00
-
25,000.00
-
4,300.00
4,150.00
2/10, n/30

Balance

5,000.00
- 120,000.00

2/10, n/30

Balance

8,000.00
- 14,000.00

2/10, n/30

Balance

5,000.00
- 24,000.00
le

11,600.00
31,000.00
86,000.00
65,000.00
9,000.00
4,150.00 Checking:
120,000.00 43,600.00
14,000.00 1,242,600.00
24,000.00 (921,450.00)
364,750.00 364,750.00
 CASH RECEIPTS JOURNAL

Sales Discount
Date Particulars OR No. PR Cash (debit)
(debit)
200x
Sept. 3 EverGood ^ 9,800.00 200.00
TONY ^ 7,840.00 160.00
WEAR ^ 4,900.00 100.00
Sept. 4 Various Customers SJ 79,000.00
Sept. 7 ODOC ^ 4,900.00 100.00
Mc Cario CM ^
Sept. 10 J&B ^ 6,762.00 138.00
Mc Cario ^ 9,653.00 197.00
R&S ^ 4,900.00 100.00
Sept. 11 Various Customers SJ 68,000.00
Sept. 14 Abanao Shop ^ 84,280.00 1,720.00
B&C ^ 72,520.00 1,480.00
Dagupan Inc. ^ 9,408.00 192.00
EverGood ^ 2,450.00 50.00
ODOC CM ^
Sept. 18 Various Customers SJ 109,800.00
Sept. 24 Abanao Shop ^ 49,000.00 1,000.00
HC ^ 67,620.00 1,380.00
Various Customers SJ 74,000.00
Purchase R & A 530 440.00
Sept. 28 EverGood ^ 43,610.00 890.00
K&S ^ 38,710.00 790.00
Mc Cario ^ 17,640.00 360.00
Dagupan Inc. ^ 18,620.00 380.00
Kool ^ 58,800.00 1,200.00
Sept. 29 ODOC ^
Sept. 30 Various Customers SJ 43,500.00
Sept. 29 Purchase R & A 530 937.00

887,090.00 10,437.00
(110) (440)
Sales R & A Accounts Receivable
Sundry (credit)
(debit) (credit) checking

10,000.00 -
8,000.00 -
5,000.00 -
79,000.00 -
5,000.00 -
150.00 150.00 -
6,900.00 -
9,850.00 -
5,000.00 -
68,000.00 -
86,000.00 -
74,000.00 -
9,600.00 -
2,500.00 -
25,000.00 25,000.00 -
109,800.00 -
50,000.00 -
69,000.00 -
74,000.00 -
440.00 -
44,500.00 -
39,500.00 -
18,000.00 -
19,000.00 -
60,000.00 -
150.00 150.00 -
43,500.00 -
937.00 -

25,300.00 921,450.00 1,377.00 -

(430) (130) (^)
 GENERAL

Date Particulars F Debit Credit

200x
Sept. 16 Juan Wagwag, Drawings 330 4,500.00
Merchandise Inventory 150 4,500.00

Sept. 20 Juan Wagwag, Drawings 330 5,000.00

Merchandise Inventory 150 5,000.00

Sept. 29 Juan Wagwag, Drawings 330 8,000.00

Merchandise Inventory 150 8,000.00

Sept. 30 Adjusting Entries:

8) Misc. General Expense 710 100.00

Office Supplies 170 120.00
Store Supplies 160 100.00
Petty Cash Fund 320.00

1) Merchandise Inventory, Sept 30 150 190,000.00

Income Summary 410 190,000.00

2) Store Supplies Used 640 1,600.00

Store Supplies 160 1,600.00

3) Office Supplies Used 690 2,290.00

Office Supplies 170 2,290.00

4) Advertising Supplies Used 630 1,500.00

Advertising Supplies 180 1,500.00

5) Insurance Expense 700 6,200.00

Prepaid Insurance 190 6,200.00

6) Bad Debts Expense 670 18,237.50

Allowance for Bad Debts 140 18,237.50

7) Depreciation Expense 660 6,000.00

Accum. Depn. - Furniture 210 6,000.00

Closing Entries:

1) Sales 420 1,242,600.00

 Purchase R & A 430 3,077.00
Purchase Discount 440 3,849.00
Income Summary 410 1,249,526.00

2) Income Summary 410 1,407,934.50

Merchandise Inventory, beg. 150 388,500.00
Sales Returns and Allowances 430 27,800.00
Sales Discount 440 10,437.00
Purchases 510 686,000.00
Freight In 520 1,200.00
Salaries 610 210,000.00
Advertising 620 5,860.00
Advertising Supplies Used 630 1,500.00
 Store Supplies Used 640 1,600.00
Rent Expense 650 25,000.00
Depreciation Expense 660 6,000.00
Bad Debts Expense 670 18,237.50
Misc. Selling Expense 680 7,650.00
Office Supplies Used 690 2,290.00
Insurance Expense 700 6,200.00
Misc. General Expense 710 9,660.00

3) Income Summary 410 31,591.50

Juan Wagwag, Capital 320 31,591.50

4) Juan Wagwag, Capital 320 37,500.00

Juan Wagwag, Drawings 330 37,500.00
 GENERAL LEDGER

CASH

Date Explanation F Debit Date

200x
31-Aug GJ 110,650.00 Sept. 30
Sept. 30 152499.00 CRJ 887,090.00
997,740.00

Oct. 1 Opening Entry GJ 152,499.00

PETTY CASH

Date Explanation F Debit Date

200x
31-Aug 1,500.00 Sept. 30
1,180.00
1,500.00

Oct. 1 Opening Entry GJ 1,180.00

ACCOUNTS RECEIVA

Date Explanation F Debit Date

200x
31-Aug GJ 43,600.00 Sept. 30
Sept. 30 364,750.00 SJ 1,242,600.00
1,286,200.00

Oct. 1 Opening Entry 364,750.00

ALLOWANCE FOR BAD

Date Explanation F Debit Date

200x
Sept. 30 Balance 18,237.50 Sept. 30

Sept. 30
 MERCHANDISE INVEN

Date Explanation F Debit Date

200x
31-Aug 406,000.00 Sept. 16
Sept. 30 AE1 190,000.00 Sept. 20
Sept. 29
Sept. 30
190,000.00
596,000.00

Oct. 1 Opening Entry 190,000.00

STORE SUPPLIES

Date Explanation F Debit Date

200x
31-Aug 1,400.00 Sept. 30
Sept. 1 CPJ 1,500.00
Sept. 6 CPJ 100.00
Sept. 30 1,500.00 AE8 100.00
3,100.00

Oct. 1 Opening Entry 1,500.00

OFFICE SUPPLIES

Date Explanation F Debit Date

200x
31-Aug 950.00 Sept. 30
Sept. 1 CPJ 650.00
Sept. 6 CPJ 720.00
Sept. 10 CPJ 300.00
Sept. 30 450.00 AE8 120.00
2,740.00

Oct. 1 Opening Entry 450.00

ADVERTISING SUPPL

Date Explanation F Debit Date

200x
31-Aug 1,250.00 Sept. 30
Sept. 20 CRJ 1,000.00
Sept. 24 900.00 CRJ 150.00
 2,400.00

Oct. 1 Opening Entry 900.00

PREPAID INSURANC

Date Explanation F Debit Date

200x
31-Aug GJ 4,650.00 Sept. 30
Sept. 15 1,550.00 CPJ 3,100.00
7,750.00

Oct. 1 Opening Entry 1,550.00

FURNITURE

Date Explanation F Debit Date

200x
31-Aug 60,000.00 60,000.00 Sept. 30

Oct. 1 Opening Entry 60,000.00

ACCUM. DEPRECIATION - F

Date Explanation F Debit Date

200x
Sept. 30 Balance 36,000.00 31-Aug
Sept. 30

36,000.00

Oct. 1

ACCOUNTS PAYABL

Date Explanation F Debit Date

200x
Sept. 30 CPJ 561,500.00 31-Aug
180,800.00 Sept. 30
 Balance 742,300.00

Oct. 1

JUAN WAGWAG, CAP

Date Explanation F Debit Date

200x
Sept. 30 CE4 37,500.00 31-Aug
Balance 537,791.50 Sept. 30
575,291.50

Oct. 1

JUAN WAGWAG, DRA

Date Explanation F Debit Date

200x
Sept. 10 CPJ 10,000.00 Sept. 30
Sept. 20 CPJ 10,000.00
Sept. 16 GJ 4,500.00
Sept. 20 GJ 5,000.00
Sept. 29 GJ 8,000.00
37,500.00

INCOME SUMMAR
 Date Explanation F Debit Date
200x
Sept. 30 CE2 1,407,934.50 Sept. 30
CE3 31,591.50
1,439,526.00

SALES

Date Explanation F Debit Date

200x
Sept. 30 CE1 1,242,600.00 Sept. 30

SALES RETURNS AND ALLO

Date Explanation F Debit Date

200x
Sept. 23 CPJ 2,500.00 Sept. 30
Sept. 30 CRJ 25,300.00
27,800.00

SALES DISCOUNT

Date Explanation F Debit Date

200x
Sept. 30 CRJ 10,437.00 Spt. 30
 PURCHASES

Date Explanation F Debit Date

200x
Sept. 30 PJ 686,000.00 Sept. 30

FREIGHT IN

Date Explanation F Debit Date

200x
Sept. 8 CPJ 700.00 Sept. 30
Sept. 10 CPJ 500.00
1,200.00

PURCHASE RETURNS AND AL

Date Explanation F Debit Date

200x
Sept. 30 CE1 3,077.00 Sept. 27
Sept. 30
Sept. 30
3,077.00

PURCHASE DISCOU

Date Explanation F Debit Date

200x
Sept. 30 CE1 3,849.00 Sept. 30
 SALARIES

Date Explanation F Debit Date

200x
Sept. 4 CPJ 70,000.00 Sept. 30
Sept. 11 CPJ 70,000.00
Sept. 18 CPJ 70,000.00
210,000.00

ADVERTISING

Date Explanation F Debit Date

200x
Sept. 2 CPJ 900.00 Sept. 30
Sept. 6 CPJ 60.00
Sept. 14 CPJ 900.00
Sept. 20 CPJ 4,000.00
5,860.00

ADVERTISING SUPPLIES

Date Explanation F Debit Date

200x
Sept. 30 AE4 1,500.00 Sept. 30

STORE SUPPLIES US
 Date Explanation F Debit Date
200x
Sept. 30 AE2 1,600.00 Sept. 30

RENT EXPENSE

Date Explanation F Debit Date

200x
Sept. 1 CPJ 25,000.00 Sept. 30

DEPRECIATION EXPE

Date Explanation F Debit Date

200x
Sept. 30 AE7 6,000.00 Sept. 30

BAD DEBTS EXPENS

Date Explanation F Debit Date

200x
Sept. 30 AE6 18,237.50 Sept. 30
 MISCELLANEOUS SELLING

Date Explanation F Debit Date

200x
Sept. 18 CPJ 7,500.00 Sept. 30
Sept. 20 CPJ 150.00
7,650.00

OFFICE SUPPLIES US

Date Explanation F Debit Date

200x
Sept. 30 AE3 2,290.00 Sept. 30

INSURANCE EXPEN

Date Explanation F Debit Date

200x
Sept. 30 AE5 6,200.00 Sept. 30

MISCELLANEOUS GENERAL

Date Explanation F Debit Date

200x
Sept. 8 CPJ 2,800.00 Sept. 30
Sept. 10 CPJ 940.00
Sept. 15 CPJ 3,000.00
Sept. 18 CPJ 1,500.00
Sept. 24 CPJ 1,200.00
Sept. 27 CPJ 120.00
Sept. 30 AE8 100.00
9,660.00
 No. 110 Checking:
debit
Explanation F Credit
No. 120 Cash 997,740.00
CPJ 845,241.00 Totals 14,841,369.00
Balance
Explanation F 152,499.00
Credit
997,740.00
AE8 320.00
Balance 1,180.00
1,500.00 -

BLE
No. 130

Explanation F Credit

CRJ 921,450.00
Balance 364,750.00
1,286,200.00

DEBTS
No. 140

Explanation F Credit

18,237.00 AE6 18,237.50

Opening Entry 18,237.50

TORY No. 150

Explanation F Credit

GJ 4,500.00
 GJ 5,000.00
GJ 8,000.00
CE2 388,500.00
Balance 190,000.00
596,000.00

No. 160

Explanation F Credit

AE2 1,600.00
Balance 1,500.00

3,100.00

No. 170

Explanation F Credit

AE3 2,290.00
Balance 450.00

2,740.00

IES
E
Explanation F Credit

AE4 1,500.00
Balance 900.00

2,400.00
No.
180

No. 190

Explanation F Credit

AE5 6,200.00
Balance 1,550.00
7,750.00

No. 200

Explanation F Credit

Balance 60,000.00

URNITURE No. 210

Explanation F Credit

30,000.00
36,000.00 AE7 6,000.00
36,000.00

Opening Entry 36,000.00

Explanation F Credit

56,300.00
180,800.00 PJ 686,000.00
 No. 310
ITAL

Explanation F Credit

543,700.00
538,000.00 CE3 31,591.50
575,291.50

Opening Entry 537,791.50

No. 320
WING

Explanation F Credit

CE4 37,500.00

37,500.00

No. 330
Y

No. 410
 Explanation F Credit

AE1 190,000.00
CE1 1,249,526.00
1,439,526.00

No. 420

Explanation F Credit

SJ 1,242,600.00

WANCES No. 430

Explanation F Credit

CE2 27,800.00

27,800.00

No. 440

Explanation F Credit

CE2 10,437.00
 No. 510

Explanation F Credit

CE2 686,000.00

No. 520

Explanation F Credit

CE2 1,200.00

1,200.00

LOWANCES No. 530

Explanation F Credit

CRJ 440.00
CRJ 937.00
CPJ 1,700.00
3,077.00

NT No. 540

Explanation F Credit

CPJ 3,849.00
 No. 610

Explanation F Credit

CE2 210,000.00

210,000.00

No. 620

Explanation F Credit

CE2 5,860.00

5,860.00

USED No. 630

Explanation F Credit

CE2 1,500.00

ED No. 640
 Explanation F Credit

CE2 1,600.00

No. 650

Explanation F Credit

CE2 25,000.00

NSE No. 660

Explanation F Credit

CE2 6,000.00

E No. 670

Explanation F Credit

CE2 18,237.50
EXPENSE No. 680

Explanation F Credit

CE2 7,650.00

7,650.00

ED No. 690

Explanation F Credit

CE2 2,290.00

SE No. 700

Explanation F Credit

CE2 6,200.00

EXPENSE No. 710

Explanation F Credit

CE2 9,660.00
9,660.00
 credit Should be Discrepancy

845,241.00 152,499.00 -
14,841,369.00 -
 Petty Cash Record

Date Expenses Amount

Sept. 2 Advertising 60.00
Sept. 7 Store Supplies 100.00
Sept. 8 Replenished (160.00)
Sept. 9 Office Supplies 300.00
Sept. 9 Misc. General Expense 960.00
Sept. 10 Replenished (1,260.00)
Sept. 11 Misc. Selling Expense 150.00
Sept. 20 Replenished (150.00)
Sept. 22 Misc. General Expense 1,200.00
Advertising Supplies 150.00
Sept. 24 Replenished (1,350.00)
Sept. 27 Misc. General Expense 100.00
Office Supplies 120.00
Store Supplies 100.00
 Trial Balance Adjust
Debit Credit Debit

Cash 152,499.00
Petty Cash 1,500.00
Accounts Receivable 364,750.00
Allowance for Bad debts
Merchandise Inventory, beg. 388,500.00
Merchandise Inventory, end 190,000.00
Store Supplies 3,000.00 100.00
Office Supplies 2,620.00 120.00
Advertising Supplies 2,400.00
Prepaid Insurance 7,750.00
Furniture 60,000.00
Accum. Depn. -Furniture 30,000.00
Accounts Payable 180,800.00
Juan Wagwag, Capital 543,700.00
Juan Wagwag, Drawing 37,500.00
Income Summary
Sales 1,242,600.00
Sales Returns and Allowances 27,800.00
Sales Discount 10,437.00
Purchases 686,000.00
Freight In 1,200.00
Purchase Returns & Allowances 3,077.00
Purchase Discount 3,849.00
Salaries 210,000.00
Advertising 5,860.00
Advertising Supplies Used 1,500.00
Store Supplies Used 1,600.00
Rent Expense 25,000.00
Depreciation Expense 6,000.00
Bad Debts Expense 18,237.50
Misc. Selling Expense 7,650.00
Office Supplies Used 2,290.00
Insurance Expense 6,200.00
Misc. General Expense 9,560.00 100.00

2,004,026.00 2,004,026.00 226,147.50

NET INCOME
 WAGWAG ENTERPRISES
10-Column Worksheet
For the month ended September 30, 200x

ments Adjusted Trial Balance Income Statement Balance

Credit Debit Credit Debit Credit Debit

152,499.00 152,499.00
320.00 1,180.00 1,180.00
364,750.00 364,750.00
18,237.50 18,237.50
388,500.00 388,500.00
190,000.00 190,000.00
1,600.00 1,500.00 1,500.00
2,290.00 450.00 450.00
1,500.00 900.00 900.00
6,200.00 1,550.00 1,550.00
60,000.00 60,000.00
6,000.00 36,000.00
180,800.00
543,700.00
37,500.00 37,500.00
190,000.00 190,000.00 190,000.00
1,242,600.00 1,242,600.00
27,800.00 27,800.00
10,437.00 10,437.00
686,000.00 686,000.00
1,200.00 1,200.00
3,077.00 3,077.00
3,849.00 3,849.00
210,000.00 210,000.00
5,860.00 5,860.00
1,500.00 1,500.00
1,600.00 1,600.00
25,000.00 25,000.00
6,000.00 6,000.00
18,237.50 18,237.50
7,650.00 7,650.00
2,290.00 2,290.00
6,200.00 6,200.00
9,660.00 9,660.00

226,147.50 2,218,263.50 2,218,263.50 1,407,934.50 1,439,526.00 810,329.00

31,591.50
1,439,526.00 1,439,526.00 810,329.00
Sheet
Credit

18,237.50

36,000.00
180,800.00
543,700.00

778,737.50
31,591.50
810,329.00
 WAGWAG ENTERPRISES
Income Statement
For the Month Ended September 30, 200x

Net Sales (note 1) 1,204,363.00

Cost of Sales (note 2) 878,774.00
Gross Income 325,589.00
Selling Expenses (note 3) 251,610.00
Administrative Expenses (note 4) 42,387.50
Net Income before tax 31,591.50

Note 1:
Sales 1,242,600.00
Less: Sales Returns and Allowances 27,800.00
Sales Discount 10,437.00 38,237.00
Net Sales 1,204,363.00

Note 2:
Merchandise Inventory, beg. 388,500.00
Add: Purchases 686,000.00
Freight In 1,200.00 687,200.00
Cost of Delivered Goods 1,075,700.00
Less: Purchase Returns and Allowances 3,077.00
Purchase Discount 3,849.00 6,926.00
Total Goods Available for Sale 1,068,774.00
Less: Merchandise Inventory, end 190,000.00
Cost of Sales 878,774.00

Note 3:
Salaries 210,000.00
Advertising 5,860.00
Advertising Supplies Used 1,500.00
Store Supplies Used 1,600.00
Rent Expense 25,000.00
Misc. Selling Expense 7,650.00
Total Selling Expenses 251,610.00

Note 4:
Depreciation Expense 6,000.00
Bad Debts Expense 18,237.50
Office Supplies Used 2,290.00
Insurance Expense 6,200.00
Misc. General Expense 9,660.00
Total Administrative Expenses 42,387.50
 WAGWAG ENTERPRISES
Statement of Changes in Owner's Equity
For the Month Ended September 30, 200x

Juan Wagwag, Capital Beg. 543,700.00

Add: Net Income 31,591.50
Total 575,291.50
Less: Juan Wagwag, Drawing 37,500.00
Juan Wagwag, Capital End 537,791.50
 WAGWAG ENTERPRISES
Statement of Financial Position
September 30, 200x

ASSETS

Current Assets:
Cash 152,499.00
Petty Cash Fund 1,180.00
Accounts Receivable 364,750.00
Less: Allowance for Bad Debts 18,237.50 346,512.50
Merchandise Inventory 190,000.00
Store Supplies 1,500.00
Office Supplies 450.00
900.00
Advertising Supplies
1,550.00
Prepaid Insurance
694,591.50
Total

Non-Current Assets:
Furniture 60,000.00 24,000.00
Less: Accum. Depn. - Furniture 36,000.00
718,591.50
TOTAL ASSETS

LIABILITY AND OWNER'S EQUITY

Current Liabity: 180,800.00

Accounts Payable
Owner's Equity: 537,791.50
Juan Wagwag, Capital
718,591.50
TOTAL LIABILITY AND OWNER'S EQUITY
 WAGWAG ENTERPRISES
Statement of Cash Flow
For the Month Ended September 30, 200x

Cash, Beginning Balance 110,650.00

Add: Cash Receipts 887,090.00
Total 997,740.00
Less: Cash Payments 845,241.00
Cash, Ending Balance 152,499.00
 WAGWAG ENTERPRISES
Post Closing Trial Balance
September 30, 200x

Accounts Debit Credit

Cash 152,499.00
Petty Cash 1,180.00
Accounts Receivable 364,750.00
Allowance for Bad debts 18,237.50
Merchandise Inventory 190,000.00
Store Supplies 1,500.00
Office Supplies 450.00
Advertising Supplies 900.00
Prepaid Insurance 1,550.00
Furniture 60,000.00
Accum. Depn. -Furniture 36,000.00
Accounts Payable 180,800.00
Juan Wagwag, Capital 537,791.50
Total 772,829.00 772,829.00