Professional Documents
Culture Documents
Liabilities
Accounts Payable 66,750.00
Loans Payable 400,000.00
Mortgage Payable - PNB 475,000.00
Total Liabilities 941,750.00
Owner's Equity
Kim, Capital 933,750.00
-
Date Particulars F
Jan-05 Purchases
Accounts Payable
Jan-07 Freight-In
Cash
Feb-13 Purchases
Accounts Payable
Feb-14 Cash
Sales
Mar-03 Cash
Sales
Apr-14 Cash
Sales
Apr-30 Purchases
Accounts Payable
Jun-07 Purchases
Accounts Payable
Jul-09 Cash
Freight-Out
Sales
Jul-14 Purchases
Accounts Payable
Sep-11 Purchases
Cash
Nov-17 Purchases
Accounts Payable
Dec-17 Cash
Sales
29,000.00
29,000.00
4,000.00
4,000.00
90,000.00
90,000.00
200,000.00
200,000.00
65,000.00
65,000.00
10,000.00
10,000.00
100,000.00
100,000.00
50,000.00
50,000.00
62,000.00
62,000.00
20,000.00
20,000.00
30,000.00
30,000.00
70,000.00
70,000.00
75,000.00
75,000.00
35,000.00
35,000.00
10,000.00
10,000.00
10,000.00
10,000.00
89,000.00
6,000.00
95,000.00
95,000.00
95,000.00
12,000.00
12,000.00
370,000.00
370,000.00
20,000.00
20,000.00
5,000.00
5,000.00
15,000.00
15,000.00
150,000.00
150,000.00
5,000.00
5,000.00
33,000.00
33,000.00
28,000.00
28,000.00
30,000.00
30,000.00
50,000.00
50,000.00
25,000.00
25,000.00
1,000.00
1,000.00
15,000.00
15,000.00
400,000.00
400,000.00
4,000.00
4,000.00
2,499,000.00 2,499,000.00
101 - Ca
DATE 2022 PARTICULARS F DEBIT
102 - Accounts R
DATE 2021 PARTICULARS F DEBIT
104 - Inven
DATE 2021 PARTICULARS F DEBIT
105 - Supp
DATE 2021 PARTICULARS F DEBIT
106 - Prepaid In
DATE 2021 PARTICULARS F DEBIT
02 - Accounts Receivable
DATE 2021 PARTICULARS F
TOTAL Credit
Ending Balance
104 - Inventory
DATE 2021 PARTICULARS F
TOTAL Credit
Ending Balance
105 - Supplies
DATE 2021 PARTICULARS F
TOTAL Credit
Ending Balance
TOTAL Credit
Ending Balance
201
CREDIT DATE 2021 PARTICULARS F
Beginning Balance
₱ 29,000.00
₱ 4,000.00
₱ 65,000.00
₱ 10,000.00
₱ 62,000.00
₱ 10,000.00
₱ 95,000.00 TOTAL Debit
₱ 12,000.00
₱ 20,000.00
₱ 5,000.00
₱ 15,000.00
₱ 33,000.00
₱ 28,000.00
₱ 30,000.00
₱ 50,000.00
₱ 15,000.00
₱ 4,000.00
₱ 370,000.00
₱ 857,000.00
₱ 207,000.00
202 -
CREDIT DATE 2022 PARTICULARS F
Beginning Balance
₱ 1,000.00
₱ 1,000.00 TOTAL Debit
₱ 279,000.00
203 - Accumulate
CREDIT DATE 2021 PARTICULARS F
₱ -
₱ 5,000.00
CREDIT 204 - E
DATE 2021 PARTICULARS F
Beginning Balance
₱ -
₱ 545,000.00
TOTAL Debit
₱ -
₱ 3,000.00
206 - Furni
CREDIT DATE 2021 PARTICULARS F
Beginning Balance
₱ -
₱ 22,500.00
TOTAL Debit
207 - Accumulate
DATE 2021 PARTICULARS F
201 - Land
DEBIT DATE 2021 PARTICULARS F CREDIT
₱ 300,000.00
202 - Building
DEBIT DATE 2021 PARTICULARS F CREDIT
₱ 450,000.00
₱ 450,000.00 TOTAL Credit ₱ -
Ending Balance ₱ 450,000.00
204 - Equipment
DEBIT DATE 2021 PARTICULARS F CREDIT
₱ 75,000.00
₱ 75,000.00 TOTAL Credit ₱ -
Ending Balance ₱ 75,000.00
₱ 125,000.00
₱ 125,000.00 TOTAL Credit ₱ -
Ending Balance ₱ 125,000.00
TOTAL Debit
Ending Balance
302 - Unearne
DATE 2021 PARTICULARS F
303 - Salarie
DATE 2021 PARTICULARS F
401 - Mortgag
DATE 2021 PARTICULARS F
402 - Interes
DATE 2021 PARTICULARS F
TOTAL Debit
403 - Loans
DATE 2021 PARTICULARS F
TOTAL Debit
Ending Balance
301 - Accounts Payable
DEBIT DATE 2021 PARTICULARS
Beginning Balance
₱ 29,000.00 Jan 25 purchase of books
₱ 65,000.00 Feb 13 purchase of books
₱ 62,000.00 Apr 30 purchase of books
₱ 10,000.00 June 7 purchase of books
₱ 12,000.00 Nov 17 purchase of books
₱ 20,000.00
₱ 5,000.00
₱ 5,000.00
₱ 28,000.00
Beginning Balance
₱ 15,000.00
₱ 15,000.00 TOTAL Credit
₱ 460,000.00
₱ 4,000.00
Beginning Balance
TOTAL Credit
₱ 400,000.00
F CREDIT DATE 2021 PARTICULARS
TOTAL Debit
₱ 702,750.00
5
F CREDIT DATE 2021 PARTICULARS
F CREDIT
₱ 475,000.00
₱ 475,000.00
F CREDIT
₱ -
₱ 4,000.00
F CREDIT
₱ 400,000.00
₱ 400,000.00
501 - Kim, Capital
ARTICULARS F DEBIT DATE 2021 PARTICULARS F
ng Balance 933,750.00
l drawings ₱ 10,000.00
l drawings ₱ 15,000.00
TOTAL Debit ₱ 25,000.00 TOTAL Credit
Ending Balance
₱ -
₱ 933,750.00
TOTAL Debit
Ending Balance
602 - Sales R
CREDIT DATE 2021 PARTICULARS
TOTAL Debit
603 - S
CREDIT DATE 2021 PARTICULARS
604 - In
DATE 2021 PARTICULARS
601 - Sales
F DEBIT DATE 2021 PARTICULARS F
₱ - TOTAL Credit
₱ 1,000,000.00
₱ 1,000.00
₱ 1,000.00 TOTAL Credit
Ending Balance
₱ 1,000,000.00
702 - Purchas
CREDIT DATE 2021 PARTICULARS
₱ - TOTAL Debit
₱ 1,000.00 Ending Balance
703 - P
CREDIT DATE 2021 PARTICULARS
CREDIT 70
DATE 2021 PARTICULARS
705
DATE 2021 PARTICULARS
TOTAL Debit
706-
DATE 2021 PARTICULARS
TOTAL Debit
707 -
DATE 2021 PARTICULARS
TOTAL Debit
708 - B
DATE 2021 PARTICULARS
709 -
DATE 2021 PARTICULARS
710 - I
DATE 2021 PARTICULARS
711 - De
DATE 2021 PARTICULARS
712
DATE 2021 PARTICULARS
701 - Purchases
F DEBIT DATE 2021 PARTICULARS F
₱ 35,000.00
₱ 286,000.00
₱ 90,000.00
₱ 75,000.00
₱ 95,000.00
₱ 370,000.00
₱ 150,000.00
704 - Freight - In
F DEBIT DATE 2021 PARTICULARS F
₱ 4,000.00
₱ 4,000.00 TOTAL Credit
Ending Balance
705 - Freight-Out
F DEBIT DATE 2021 PARTICULARS F
₱ 6,000.00
₱ 33,000.00
₱ 50,000.00
₱ 30,000.00
₱ -
₱ 1,101,000.00
CREDIT
₱ 5,000.00
₱ 5,000.00
CREDIT
CREDIT
₱ -
₱ 4,000.00
CREDIT
₱ -
₱ 6,000.00
CREDIT
₱ -
₱ 83,000.00
CREDIT
₱ -
₱ 30,000.00
CREDIT
CREDIT
CREDIT
CREDIT
CREDIT
INK Books & Supplies
Unadjusted Trial Balance
For the period ended December 31, 2022
Cash ₱ 207,000.00
Allowance for doubtful accounts ₱ 5,000.00
Accounts Receivable ₱ 279,000.00
Inventory ₱ 545,000.00
Supplies ₱ 3,000.00
Prepaid Insurance ₱ 22,500.00
Land ₱ 300,000.00
Building ₱ 450,000.00
Equipment ₱ 75,000.00
Furnitures & Fixtures ₱ 125,000.00
Loans Payable ₱ 400,000.00
Accounts Payable ₱ 466,750.00
Mortgage Payable ₱ 460,000.00
Interest Payable ₱ 4,000.00
Kim, Capital ₱ 933,750.00
Kim, Drawing ₱ 25,000.00
Sales ₱ 1,000,000.00
Sales Returns & Allowances ₱ 1,000.00
Purchases ₱ 1,101,000.00
Purchase Returns & Allowances ₱ 5,000.00
Freight-In ₱ 4,000.00
Freight-Out ₱ 6,000.00
Salaries Expense ₱ 83,000.00
Utilities Expense ₱ 30,000.00
₱ 3,265,500.00 ₱ 3,265,500.00
2022
Date Particulars F Debit
₱ 20,825.00
Credit
₱ 8,950.00
₱ 13,950.00
₱ 5,625.00
₱ 1,250.00
₱ 20,825.00
7
DATE 2021 PARTICULARS
1
DATE 2021 PARTICULARS
to adjust prepaid insurance
DATE 2021 PARTICULARS
708 - Bad Debt Expense
PARTICULARS F DEBIT DATE 2021 PARTICULARS
101 - Cash
PARTICULARS F DEBIT DATE 2021 PARTICULARS
to adjust prepaid insurance
TOTAL Debit ₱ -
Ending Balance ₱ 22,500.00
PARTICULARS F CREDIT DATE 2021 PARTICU
ts
PARTICULARS F CREDIT
DATE 2021 PARTICU
st bad debts ₱ 13,950.00
PARTICULARS F CREDIT
expired portion of insurance ₱ 23,650.00 DATE 2021 PARTICU
105 - Supplies
PARTICULARS F DEBIT DATE 2021 PARTICULARS
TOTAL Debit ₱ -
Ending Balance ₱ 1,250.00
PARTICULARS F CREDIT
PARTICULARS F CREDIT
TOTAL Credit ₱ -
Ending Balance ₱ 1,250.00
INK Books & Supplies
Adjusted Trial Balance
Cash ₱ 207,000.00
Accounts Receivable ₱ 270,050.00
Inventory ₱ 545,000.00
Supplies ₱ 1,750.00
Prepaid Insurance ₱ 16,875.00
Land ₱ 300,000.00
Building ₱ 450,000.00
Equipment ₱ 75,000.00
Furnitures & Fixtures ₱ 125,000.00
Loans Payable ₱ 400,000.00
Accounts Payable ₱ 466,750.00
Mortgage Payable ₱ 460,000.00
Interest Payable ₱ 4,000.00
Kim, Capital ₱ 933,750.00
Kim, Drawing ₱ 25,000.00
Sales ₱ 1,000,000.00
Sales Returns & Allowances ₱ 1,000.00
Purchases ₱ 1,101,000.00
Purchase Returns & Allowances ₱ 5,000.00
Freight-In ₱ 4,000.00
Freight-Out ₱ 6,000.00
Salaries Expense ₱ 83,000.00
Utilities Expense ₱ 30,000.00
Supplies Expense ₱ 1,250.00
Insurance Expense ₱ 5,625.00
Bad debts Expense ₱ 13,950.00
₱ 3,265,500.00 ₱ 3,265,500.00
UNADJUSTED TRIAL BALANCE ADJUSTMENTS
Debit Credit Debit
Cash ₱ 207,000.00
Allowance for doubtful accounts ₱ 5,000.00
Accounts Receivable ₱ 279,000.00
Inventory ₱ 545,000.00
Supplies ₱ 3,000.00
Prepaid Insurance ₱ 22,500.00
Land ₱ 300,000.00
Building ₱ 450,000.00
Equipment ₱ 75,000.00
Furnitures & Fixtures ₱ 125,000.00
Loans Payable ₱ 400,000.00
Accounts Payable ₱ 466,750.00
Mortgage Payable ₱ 460,000.00
Interest Payable ₱ 4,000.00
Kim, Capital ₱ 933,750.00
Kim, Drawing ₱ 25,000.00
Sales ₱ 1,000,000.00
Sales Returns & Allowances ₱ 1,000.00
Purchases ₱ 1,101,000.00
Purchase Returns & Allowances ₱ 5,000.00
Freight-In ₱ 4,000.00
Freight-Out ₱ 6,000.00
Salaries Expense ₱ 83,000.00
Utilities Expense ₱ 30,000.00
Bad Debts Expense ₱ 13,950.00
Supplies Expense ₱ 1,250.00
Insurance Expense ₱ 5,625.00
₱ 270,050.00
₱ 87,000.00 ₱ 87,000.00
₱ 1,750.00
₱ 16,875.00
₱ 300,000.00
₱ 450,000.00
₱ 75,000.00
₱ 125,000.00
₱ 400,000.00
₱ 466,750.00
₱ 460,000.00
₱ 4,000.00
₱ 933,750.00
₱ 25,000.00
₱ 1,000,000.00
₱ 5,000.00
Net Sales
Sales 1,000,000.00
Less:
Sales Returns & Allowances 1,000.00
Cost of Sales
Beg. Inventory 545,000.00
Purchases 1,101,000.00
Less:
Purchase Returns & Allowances 5,000.00
Net Purchases 1,096,000.00
Add:
Freight-In 4,000.00
Freight-Out 6,000.00
Net Cost of Purchase 1,106,000.00
Total Goods Available for Sale 1,651,000.00
Less:
End. Inventory 87,000.00
Gross Profit
Less: Expenses
Salaries Expense ₱ 83,000.00
Utilities Expense ₱ 30,000.00
Bad Debts Expense ₱ 13,950.00
Supplies Expense ₱ 1,250.00
Insurance Expense ₱ 5,625.00
Profit
999,000.00
1,564,000.00
- 565,000.00
133,825.00
- 698,825.00
Statement of Changes in Equity
Income Summary
to close income accounts
- Income Summary
Salaries Expense
Utilities Expense
Bad Debts Expense
Supplies Expense
Insurance Expense
to close expense accounts
Income Summary
Green's Capital
- to close the income summary account
Green's Capital
Green's Drawings
- to close the drawings account
KAYA GAWA KA PA DIN HA
F DEBIT
₱ 1,000,000.00
133,825.00
₱ 698,825.00
₱ 25,000.00
1,857,650.00
CE 01
CREDIT
₱ 1,000,000.00
₱ 83,000.00
₱ 30,000.00
₱ 13,950.00
₱ 1,250.00
₱ 5,625.00
₱ 698,825.00
₱ 25,000.00
1,857,650.00
Cash ₱ 207,000.00
Accounts Receivable ₱ 279,000.00
Allowance for doubtful accounts ₱ 8,950.00
Inventory ₱ 87,000.00
Supplies ₱ 1,750.00
Prepaid Insurance ₱ 16,875.00
Land ₱ 300,000.00
Building ₱ 450,000.00
Equipment ₱ 75,000.00
Furniture& Fixtures ₱ 125,000.00
Loans Payable ₱ 400,000.00
Accounts Payable ₱ 466,750.00
Mortgage Payable ₱ 460,000.00
Interest Payable ₱ 4,000.00
Kim, Capital ₱ 209,925.00
₱ 1,545,625.00 ₱ 1,545,625.00
ASSETS
Current Assets
Cash ₱ 207,000.00
Accounts Receivable ₱ 270,050.00
Inventory ₱ 87,000.00
Supplies ₱ 1,750.00
Prepaid Insurance ₱ 16,875.00
Total Current Asset ₱ 582,675.00
Non-current Assets
Land ₱ 300,000.00
Building ₱ 450,000.00
Equipment ₱ 75,000.00
Furniture & Fixtures ₱ 125,000.00
Total Non-current Assets ₱ 950,000.00
Total Assets
Non-current Liabilities
Loans Payable ₱ 400,000.00
Mortgage Payable ₱ 460,000.00
Total Non-current Liabilities ₱ 860,000.00
Total Liabilities
Owner's Capital
Kim, Capital ₱ 209,925.00
Total owner's Equity
Total Liabilities and Owner's Capital
₱ 1,532,675.00
₱ 1,322,750.00
₱ 209,925.00
₱ 1,532,675.00
Statement of Cash Flows
Acquisition of equipment -
Cash flow from investing activities -
Liabilities
Accounts Payable 66,750.00 ₱ 462,750.00 ₱ 396,000.00
Loans Payable 400,000.00 ₱ 400,000.00 -
Mortgage Payable - PNB 475,000.00 ₱ 460,000.00 -₱ 15,000.00
Total Liabilities 941,750.00 ₱ 1,322,750.00
Owner's Equity
Kim, Capital 933,750.00 ₱ 209,925.00 -₱ 723,825.00
Total Liabilities and Equity 1,875,500.00 1,532,675.00
Increase/Decrease
2022 2021 Increase (Decrease)
Assets Amount
Cash ₱ 207,000.00 255,000.00 - 48,000.00
Accounts Receivable ₱ 270,050.00 95,000.00 175,050.00
Inventory ₱ 87,000.00 545,000.00 - 458,000.00
Prepaid Insurance ₱ 16,875.00 22,500.00 - 5,625.00
Supplies ₱ 1,750.00 3,000.00 - 1,250.00
Allowance for doubtful accounts - 5,000.00 - 5,000.00
Total Current Assets ₱ 582,675.00 925,500.00 - 342,825.00
Liabilities
Accounts Payable ₱ 462,750.00 66,750.00 396,000.00
Loans Payable ₱ 400,000.00 400,000.00 -
Mortgage Payable - PNB ₱ 460,000.00 475,000.00 - 15,000.00
Total Liabilities ₱ 1,322,750.00 941,750.00 - 381,000.00
Owner's Equity
Kim, Capital ₱ 209,925.00 933,750.00 - 723,825.00
-
-
-
-
-
-18.28%
59.33%
-
-3.16%
-40.46%
-77.52%
-18.28%
Income Statement
Sales 1,000,000.00 100.10%
Less: Sales Returns & Allowances 1,000.00 0.10%
Net Sales 999,000.00 100%
Less: Cost of Sales
Beg. Inventory 545,000.00 54.55%
Purchases 1,101,000.00 110.21%
Less: Purchase Returns & Allowances 5,000.00 0.50%
Net Purchases 1,096,000.00 109.71%
Add: Freight-In 4,000.00 0.40%
Freight-Out 6,000.00 0.60%
Net Cost of Purchase 1,106,000.00 110.71%
Total Goods Available for Sale 1,651,000.00 165.27%
Less: End. Inventory 87,000.00 8.71%
Cost of Sales 1,564,000.00 156.56%
Gross Profit - 565,000.00 -56.56%
Less: Expenses
Salaries Expense ₱ 83,000.00 8.31%
Utilities Expense ₱ 30,000.00 3%
Bad Debts Expense ₱ 13,950.00 1.40%
Supplies Expense ₱ 1,250.00 0.13%
Insurance Expense ₱ 5,625.00 0.56%
Total Expenses 133,825.00 13.40%
Net Income - 698,825.00 -69.95%