A.

CHART OF ACCOUNTS
DATE
January

January

January

January

January

January

January

January
 A MERCHANDISING
DATE ACCOUNT TITLE & EXPLANATION PR DEBIT
1 Cash 1,000,000
Mr. Dela Cruz,Capital
Initial Investment

5 Purchases 125,000
Input Tax 15,000
Accounts Payable
Purchase Merchandise on Account to ABC

7 Transportation In 669.64
Input Tax 80.36
Cash
Paid for the delivery fee of the Jan 5 purchase

9 Accounts Revievable 230,000.00

Output Tax
Sales
Sold Merchandise

10 Accounts Payable 140,000

Purchases Discount
Input Tax
Cash
Paid his Account in Full to ABC Store

11 Transportation Out 1,160.71

Input Tax 139.29
Cash
Paid the delivery fee of the Jan 9 transaction

12 Sales Return & Allowances 13,392.86

Output Tax 1,607.14
Accounts Recievable
Mr. Reyes returne some defective items

15 Cash 210,700
Sales Discount 3,839.29
Output Tax 460.71
Accounts Recievable
Recieved Full Payment

20 Utilities Expense 4,464.29

Input Tax 535.71
Cash
Paid for Electricity Expense fo the month
1,747,050.00
 GJ-15 A MERCHANDISING
CREDIT DATE ACCOUNT TITLE & EXPLANATION

1,000,000

140,000

750

24,642.86
205,357.14

2,500
300
137,200

1,300

15,000

215,000

5,000
1,747,050.00
G GJ-16 A MERCHAN
PR DEBIT CREDIT DATE ACCOUNT TITLE & EXPLAN
 A MERCHANDISING GJ-17
ACCOUNT TITLE & EXPLANATION PR DEBIT CREDIT
 A MERCHANDISING
DATE ACCOUNT TITLE & EXPLANATION PR DEBIT
 GJ-18 A MERCHANDISING
CREDIT DATE ACCOUNT TITLE & EXPLANATION
G GJ-19
PR DEBIT CREDIT
 A MERCHANDISING
GENERAL LEDGER
CASH
DATE ITEM F DEBIT
Jan 1 Initial Investment 1,000,000
Jan 7 Paid for the delivery fee of the Jan 5 purchase
Jan 10 Paid his account in full to ABC store
Jan 11 Paid the delivery fee of the Jan 9 transaction
Jan 15 Recieved Full Payment 210,700
Jan 20 Paid for Electricity Expense fo the month

ACCOUNTS RECEIVABLE
DATE ITEM F DEBIT
Jan 9 Sold Merchandise 230,000
Jan 12 Mr. Reyes returne some defective items
Jan 15 Recieved Full Payment

NOTES RECEIVABLE
DATE ITEM F DEBIT

MERCHANDISE INVENTORY
DATE ITEM F DEBIT

SUPPLIES
DATE ITEM F DEBIT

PREPAID INSURANCE
DATE ITEM F DEBIT

EQUPMENT
DATE ITEM F DEBIT

ACCUMULATED DEPRECIATION-EQUIPMENT
DATE ITEM F DEBIT
 ACCOUNTS PAYABLE
110 DATE ITEM
CREDIT BALANCE Jan 5 Purchase Merchandise on Account to ABC
1,000,000 Jan 10 Paid his account in full to ABC store
-750 999,250
-137,200 862,050
-1,300 860,750
1,071,450
-5,000 1,066,450.00

INPUT TAX
DATE ITEM
Jan 5 Purchase Merchandise on Account to ABC
Jan 7 Paid for the delivery fee of the Jan 5 purchase
Jan 10 Paid his account in full to ABC store
Jan 11 Paid the delivery fee of the Jan 9 transaction
Jan 20 Paid for Electricity Expense fo the month

OUTPUT TAX
DATE ITEM
Jan 9 Sold Merchandise
Jan 12 Mr. Reyes returne some defective items
Jan 15 Recieved Full Payment

NET TAX PAYABLE

DATE ITEM
Input Tax
Output Tax
120
CREDIT BALANCE
230,000
-15,000 215,000
-215,000 0
CREDIT BALANCE

CREDIT BALANCE

CREDIT BALANCE

CREDIT BALANCE

CREDIT BALANCE

CREDIT BALANCE
 210 OWNER,CAPITAL
F DEBIT CREDIT BALANCE DATE
-140,000 -140,000 Jan 1
140,000 0

OWNER,WITHDRAWAL
DATE

220a
F DEBIT CREDIT BALANCE
15,000 15,000
80.36 15,080.36 INCOME SUMMARY
-300 14,780.36 DATE
139.29 14,919.65
535.71 15,455.36

220b
F DEBIT CREDIT BALANCE
-24,642.86 -24,642.86
1,607.14 -23035.72
460.71 - 22,575.01

220
F DEBIT CREDIT BALANCE
14,919.65 14,919.65
- 22,575.01 -7,655.36
 OWNER,CAPITAL 310
ITEM F DEBIT CREDIT
Initial Investment 1,000,000

OWNER,WITHDRAWAL
ITEM F DEBIT CREDIT

INCOME SUMMARY
ITEM F DEBIT CREDIT
310 SALES
BALANCE DATE ITEM F
1,000,000 Jan 9 Sold Merchandise

BALANCE
SALES RETURNS AND ALLOWANCES
DATE ITEM F
Jan 12 Mr. Reyes returne some defective items

BALANCE

SALES DISCOUNTS
DATE ITEM F
Jan 15 Recieved Full Payment
 410 PURCHASES
DEBIT CREDIT BALANCE DATE
205,357.14 205,357.14 Jan 5

420
DEBIT CREDIT BALANCE
13,392.86 13,392.86

PURCHASES DISCOUNT
DATE
Jan 10

430
DEBIT CREDIT BALANCE
3,839.29 3,839.29
TRANSPORTATION IN
DATE
Jan 7

TRANSPORTATION OUT
DATE
Jan 11
 PURCHASES 510
ITEM F DEBIT CREDIT
Purchase Merchandise on Account to ABC 125,000

PURCHASES DISCOUNT 520

ITEM F DEBIT CREDIT
Paid his account in full to ABC store 2,500

TRANSPORTATION IN 530
ITEM F DEBIT CREDIT
Paid for the delivery fee of the Jan 5 purchase 669.64

TRANSPORTATION OUT 540

ITEM F DEBIT CREDIT
Paid the delivery fee of the Jan 9 transaction 1,160.71
510 UTILITIES EXPENSE
BALANCE DATE ITEM F
125,000 Jan 20 Paid for Electricity Expense fo the month

SUPPLIES EXPENSE
DATE ITEM F

520 INSURANCE EXPENSE

BALANCE DATE ITEM F
2,500

DEPRECIATION EXPENSE- BUILDING

530 DATE ITEM F
BALANCE
669.64

DEPRECIATION EXPENSE- EQUIPMENT

540 DATE ITEM F
BALANCE
1,160.71

TRANSPORTATION-OUT
DATE ITEM F

ADVERTISING EXPENSE
DATE ITEM F
 INTEREST EXPENSE
DATE ITEM F

MISCELLANEOUS EXPENSE
DATE ITEM F
 610
DEBIT CREDIT BALANCE
5,000.00 5,000.00

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

DEBIT CREDIT BALANCE

 UNADJUSTED TRIAL BALANCE ADJUSTMENTS
Acct # ACCOUNT TITLE
DEBIT CREDIT DEBIT
CHART OF ACCOUNTS
110 Cash 1066450.00
120 Accounts Receivable 0.00
210 Accounts Payable 0.00
220 Net Tax Payable 7655.36
310 Mr. Dela Cruz, Capital 1,000,000.00
410 Sales 205,357.14
420 Sales Returns & Allowances 13,392.86
430 Sales Discount 3,839.29
510 Purchases 125,000
520 Purchases Discount 2,500
530 Transportation In 669.64
540 Transportation Out 1,160.71
610 Utilities Expense-Electricity 5,000.00

1,215,512.50 1,215,512.50
ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET
CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT

1066450.00 1066450.00
0.00 0.00
0.00
7655.36
1,000,000.00
205,357.14 205,357.14
13,392.86 13,392.86
3,839.29 3,839.29
125,000 125,000
2,500 2,500
669.64 669.64
1,160.71 1,160.71
5,000.00 5,000.00

1,215,512.50 1,215,512.50 149,062.50 207,857.14 1,066,450.00

58,794.64
207,857.14
BALANCE SHEET CLOSING ENTRIES
CREDIT DEBIT CREDIT

0.00
7655.36
1,000,000.00 58,794.64
205,357.14
13,392.86
3,839.29
125,000
2,500
669.64
1,160.71
5,000.00

1,007,655.36 207,857.14 207,857.14

58,794.64
1,066,450.00
 A. STATEMENT OF COST OF GOOD SOLD C

B. INCOME STATEMENT D
Sales 205,357.14
Sales Returned and Allowances -13,392.86
Sales Discount -3,839.29
Net Sales 188,124.99
Purchases Discount -2,500
Transportation In 669.64
Cost Good of Sold 125,000 -123,169.64

Gross Profit: 64,955.35

Transportation Out -1,160.71
Utilities Expense-Electricity -5,000.00

Net Income 58,794.64

 C. STATEMENT OF CHANGES IN EQUITY E.

Iniatial,Capital 1,000,000.00
Net Income 58,794.64
1,058,794.64

D. STATEMENT OF FINANCIAL POSTION

Assets:
Current Assests: Cashflow from Investing Acti
Cash 1,066,450.00

Liabilities ans Owner's Equity:

Current Liabilities:
Accounts Payable 0.00
Net Tax Payable 7655.36
Total Liabilities 7655.36

Owner's Equity F. P
Mr. Dela cruz, Capital 1,058,794.64
Total Owner's Equity 1,058,794.64

Total Liabilities and Owner's Equity 1,066,450.00

 E. STATEMENT OF CASH FLOW

Cash Flow from Operating Activities

Cash Recieved from Clients 210,700
Payment to Purchases -137,200
Payment to Operating Expenses -5,000.00
Payment to Delivery fee -2,050.00
Net Cash Use in Operating Expense 66,450.00

Cashflow from Investing Activities

Investment 1,000,000.00

Net cash used in investing activities 1,000,000.00

Cash Balance at end of the period 1,066,450.00

F. POST CLOSING TRIAL BALANCE

Cash 1,066,450.00
Accounts Receivable 0.00
Accounts Payable 0.00
Net Tax Payable 7655.36
Mr. Dela Cruz, Capital 1,058,794.64

1,066,450.00 1,066,450.00

Daniela S. Gacutan