TRANSACTION

DEC 01 - Melody invest P10,000 for the perfume business.

DEC 05- Melody bought pouch for the perfume amounting to P1,000.00.
DEC 7- She purchased 3 set of tester perfume worth of P810.00 on cash
DEC 7- Bought 10 stocks of perfume worth of P990.00
DEC 7- Paid cash for transportation expense worth of P100.00.
DEC 12- Sold 6 perfumes for P900.00 on cash.
DEC 15- Bought a new stock of perfumes worth of P1980.00.
Dec 15- melody paid transportation worth of P 100.00 on cash.
DEC 18- Clients bought perfume and promised to pay P1800.00. (12pcs)
DEC 21- Melody withdraw P2,000.00 for personal use.
DEC 27- Clients paid P750.00 for partial payment from December 18.
DEC 30- Clients bought 6 pcs of perfume cost P900 on cash.
DEC 31- Clients paid the remaining balance from December 18.
 BRIANNA’S PERFUME
CHARTS OF ACCOUNTS
DECEMBER 31, 2022

CHARTS OF ACCOUNTS

Accounts Number Accounts Title

101 Cash
102 Accounts Receivable
105 Pouch
108 Perfume Tester
112 Inventory
301 Melody’s, Capital
302 Melody’s, Drawing
401 Sale
501 Transportation Expenses
JOURNALIZNG ENTRY

Date Particulars F Debit Credit

2022,
Dec.
1 Cash P 10,000-
Melody’s, Capital P 10,000-
To record Melody investment

5 Pouch 1,000-
Cash 1,000-
To record purchased pouch

7 Perfume Tester 810-

810-
Cash
To record purchased perfume tester
7 990-
Inventory
990-
Cash
To record inventory
7 100-
Transportation Expense 100-
Cash
To record expense
12 900-
Cash 900-
Sale
To record sold perfumes
15 1,980-
Inventory 1,980-
Cash
To record purchased stock
15 100-
Transportation Expense 100-
Cash
To record expense
18 1,800-
1,800-
Accounts Receivable
Sale
To record accounts receivable made by
clients

21 2,000-
2,000-
Melody’s, Drawings
 Cash
27 To record withdrawals made by Melody 750-
750-
Cash
Accounts Receivable
30 To record payment from clients 900-
900-
Cash
Sale
31 1,050-
To record sold perfumes
1,050-
Cash
Accounts Receivable
To record payment from clients
GENERAL LEDGER

ACCOUNT TITLE: Cash

ACCOUNT NUMBER: 101

Date Explanation PR Debit Credit Balance

2022,
Dec.
1 Investment P 10,000- P 10,000-
5 Purchased P 1,000- 9,000-
7 Bought 810- 8,910-
7 Stocks 990- 7,200-
7 Expenses 100- 7,100-
Sales 900- 8,000-
12
15 Goods 1980- 6,020-
15 Transportation Expense 100- 5,920-
21 Withdrawal 2,000- 3,920-
750-
27 Partial Payment 750-
900-
30 Payment 900-
1050-
31 Paid Remaining Balance 6620-

ACCOUNT TITLE: Accounts Receivable

ACCOUNT NUMBER: 102

Date Explanation P Debit Credit Balance

R
2022,
Dec.
18 Sales P 1,800- P 1,800-
27 Partial Payment P 750- 1,050-
31 Payment 1,050- 0-

ACCOUNT TITLE: Pouch

ACCOUNT NUMBER: 105

Date Explanation P Debit Credit Balance

R
2022,
Dec.
5 Purchased P 1,000- P 1,000-
ACCOUNT TITLE: Perfume Tester
ACCOUNT NUMBER: 108

Date Explanation P Debit Credit Balance

R
2022,
Dec.
7 Purchased P 810- P 810-

ACCOUNT TITLE: Inventory

ACCOUNT NUMBER: 112

Date Explanation P Debit Credit Balance

R
2022,
Dec.
7 Sales P 990- P 990-
15 Stocks 1,980- 2970-

ACCOUNT TITLE: Melody’s, Capital

ACCOUNT NUMBER: 301

Date Explanation P Debit Credit Balance

R
2022,
Dec.
1 Investment P 10,000- P 10,000-

ACCOUNT TITLE: Melody’s, Drawing

ACCOUNT NUMBER: 302

Date Explanation P Debit Credit Balance

R
2022,
Dec.
21 Withdrawals P 2,000- P 2,000-
ACCOUNT TITLE: Sale
ACCOUNT NUMBER: 401

Date Explanation P Debit Credit Balance

R
2022,
Dec.
12 Sold P 900- P 900-
18 Purchased 1,800- 2,700-
30 Bought 900- 3,600-

ACCOUNT TITLE: Transportation Expense

ACCOUNT NUMBER: 501

Date Explanation P Debit Credit Balance

R
2022,
Dec.
7 Transportation Expense P 100- P 100-
15 Expense 100- 200-
 BRIANNA’S PERFUME
TRIAL BALANCE
For the month ended December 31, 2022

Account Account Title Debit Credit

Number
Cash P 6,620-
Pouch 1,000-
Perfume Tester 810-
Inventory 2,970-
Melody’s, Capital P 10,000-
Melody’s, Drawing 2,000-
3,600-
Sale
Transportation Expenses 200-
P 13,600- P 13,600-
 BRIANNA’S PERFUME
INCOME STATEMENT
For the month ended December 31, 2022

REVENUE/SALE P 3,600-
LESS: EXPENSE
Transportation Expense P 200- ( 200- )
NET INCOME P 3,400-
 BRIANNA’S PERFUME
CHANGES IN OWNER’S EQUITY
For the month ended December 31, 2022

Beginning Melody’s, Capital P 10,000-

ADD: Net Income 3,400-
LESS: Drawings ( 2,000-)
ENDING Melody’s, Capital P 11,400-
 BRIANNA’S PERFUME
BALANCE SHEET
For the month ended December 31, 2022

ASSETS
Cash P 6,620-
Pouch 1,000-
Perfume Tester 810-
Inventory ( 2,970- )
TOTAL ASSETS P 11,400-

LIABILITIES AND OWNER’S EQUITY

LIABILITIES
TOTAL LIABILITIES 0-

OWNER’S EQUITY
Melody’s, Capital P 11,400-
TOTAL OWNER’S EQUITY P 11,400-

TOTAL LIABILITIES AND OWNER’S EQUITY P 11,400-

 BRIANNA’S PERFUME
CASH FLOW STATEMENT
For the month ended December 31, 2022

Cash flows from operating activities

Cash received from customers P 3,600-
Cash paid for expenses ( 200- )
Net cash provided from operating activities P 3,400-

Cash flows from investing activities

Acquisition of Pouch P 1,000-
Acquisition of Perfume Tester 810-
Acquisition of Inventory 2,970-
Net cash used from operating activities ( P 4,780- )

Cash flow from financing activities

Investment by Melody P 10,000-
Withdrawals by Melody ( 2,000- )
Net cash provided from financing activities P 8,000-

Net increase in cash P 6,620-

Cash balance in December 1 -

CASH BALANCE IN DECEMEBER 31 P 6,620-
 BRIANNA’S PERFUME
CLOSING TRIAL BALANCE
For the month ended December 31, 2022

Account Account Title Debit Credit

Number
Cash P 6,620-
Pouch 1,000-
Perfume Tester 810-
Inventory 2,970-
Melody’s, Capital P 11,400-
P 11,400- P 11,400-
CLOSING ENTRIES

Date Particulars Debit Credit

Dec. Revenue P 3,600-
31 Income Summary P 3,600-
To close the revenue account to income
summary

Dec. Income Summary 200-

31 Transportation Expense 200-
To close the expense account to income
summary
Dec. 10,000-
Capital
31 10,000-
Income Summary
To close the capital account to income
summary
Dec. 2,000-
Income Summary 2,000-
31
Drawing
To close the drawing account to income
summary