IZZY Trading

GENERAL JOURNAL

DATE ACCOUNTS & DESCRIPTION

Dec. 01 Cash
Merchandise Inventory
Store Furniture and Fixtures
Store Equipment
Izzy, Capital
*To record the Initial Investment of the owner

Dec. 10 Sales Returns and Allowances

Output Tax
Accounts Receivable - Angel Trading
*To record the Merchandise Returned by Angel Trading

Dec. 13 Accounts Payable - Hyzel Trading

Purchases Return and Allowances
Input Tax
*To record the Merchandise Returned to Hyzel Trading

Dec. 15 Sales Return and Allowances

Output Tax
Accounts Receivable - Yvone Merchandising
*To record the Merchandise Returned by Yvone Merchandising

Dec. 20 Accounts Payable - Nicanor Trading

Purchase Returns and Allowances
Input Tax
*To record the Merchandise Returned to Nicanor Trading

Dec. 22 Sales Return and Allowances

Output Tax
Accounts Receivable - Angel Trading
*To record the Merchandise Returned by Angel Trading

Dec. 30 SSS Contributions

Pag-IBIG Contributions
PhilHealth Contributions
SSS Premium Payable
Pag-IBIG Premium Payable
PhilHealth Payable
*To record Employer's Share

*Year-End Adjustments (Adjusting Entries)

PR DEBIT CREDIT

101 450,000.00
104 500,000.00
110 120,000.00
112 90,000.00
302 1,160,000.00

403 2,000.00
210 240.00
102 2,240.00

201 3,360.00
504 3,000.00
109 360.00

403 3,000.00
210 360.00
102 3,360.00

201 1,120.00
504 1,000.00
109 120.00

403 2,000.00
210 240.00
102 2,240.00

611 1,000.00
612 500.00
613 500.00
206 1,000.00
207 500.00
208 500.00
GENERAL LEDGER (2016)
ACCOUNT: Cash
DATE DESCRIPTION
Dec. 01 Initial Investment of Izzy
Dec. 31 Cash Totals from Cash Receipts Journal
Dec. 31 Cash Totals from Cash Disbursement Journal

ACCOUNT: Accounts Receivable

DATE DESCRIPTION
Dec. 10 Debit Memo # 2003 from Angel Trading
Dec. 15 Credit Memo # 1001 to Yvone Merchandising
Dec. 22 Credit Memo # 1002 to Angel Trading
Dec. 30 Total Accounts Receivable Balance
Dec. 30 Total Accounts Receivable Balance

ACCOUNT: Allowance for Doubtful Accounts

DATE DESCRIPTION

ACCOUNT: Merchandise Inventory

DATE DESCRIPTION
Dec. 01 Initial (Original) Investment of Izzy

ACCOUNT: Office Supplies

DATE DESCRIPTION

ACCOUNT: Store Supplies

DATE DESCRIPTION

ACCOUNT: Prepaid Insurance

DATE DESCRIPTION
ACCOUNT: Prepaid Rent
DATE DESCRIPTION

ACCOUNT: Input Tax

DATE DESCRIPTION
Dec. 13 Merchandise Rerturned to Hyzel Trading
Dec. 20 Merchandise Rerturned to Hyzel Trading
Dec. 31 Totals from Purchase Journal
Dec. 31 Totals from Cash Disbursement Journal

ACCOUNT: Store Furniture and Fixture

DATE DESCRIPTION
Dec. 01 Initial Investment by Izzy

ACCOUNT: Accumulated Depreciation - Store Furniture and Fixture

DATE DESCRIPTION

ACCOUNT: Store Equipment

DATE DESCRIPTION

ACCOUNT: Accumulated Depreciation - Store Equipment

DATE DESCRIPTION
ACCOUNT: Accounts Payable
DATE DESCRIPTION
Dec. 13 Merchandise Returned to Hyzel Trading DM#10001
Dec. 20 Merchandise Returned to Nicanor Trading DM#2001
Dec. 31 Totals from Cash Disbursement Journal
Dec. 31 Totals from Purchase Journal

ACCOUNT: Notes Payable

DATE DESCRIPTION

ACCOUNT: Salaries Payable

DATE DESCRIPTION

ACCOUNT: Utilities Payable

DATE DESCRIPTION

ACCOUNT: Interest Payable

DATE DESCRIPTION

ACCOUNT: SSS Payable

DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015
Dec. 30 Employee Share per Voucher #014

ACCOUNT: Pag-IBIG Payable

DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015
Dec. 30 Employee Share per Voucher #014
ACCOUNT: PhilHealth Payable
DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015
Dec. 30 Employee Share per Voucher #014

ACCOUNT: Witholding Tax Payable

DATE DESCRIPTION
Dec. 30 Employee Share per Voucher #014

ACCOUNT: Output Tax

DATE DESCRIPTION
Dec. 10 Debit Memo # 2003 from Angel Trading
Dec. 15 Credit Memo # 1001 to Yvone Merchandising
Dec. 22 Credit Memo # 1002 to Angel Trading
Dec. 30 Total from Sales Journal
Dec. 30 Total from Cash Receipts Journal

ACCOUNT: VAT Payable

DATE DESCRIPTION

ACCOUNT: Izzy, Capital

DATE DESCRIPTION
Dec. 01 Initial Investment by Izzy

ACCOUNT: Income and Expense Summary

DATE DESCRIPTION
ACCOUNT: Sales
DATE DESCRIPTION
Dec. 30 Total from the Sales Journal
Dec. 30 Total from the Cash Receipts Journal

ACCOUNT: Sales Discounts

DATE DESCRIPTION
Dec. 12 Receipt #002
Dec. 17 Receipt #003
Dec. 27 Receipt #004

ACCOUNT: Sales Returns and Allowances

DATE DESCRIPTION
Dec. 10 Debit Memo # 2003 from Angel Trading
Dec. 15 Credit Memo # 1001 to Yvone Merchandising
Dec. 22 Credit Memo # 1002 to Angel Trading

ACCOUNT: Interest Income

DATE DESCRIPTION

ACCOUNT: Purchases
DATE DESCRIPTION
Dec. 31 Total from Purchase Journal
Dec. 31 Total from Cash Disbursement Journal

ACCOUNT: Freight-In
DATE DESCRIPTION
Dec. 05 FOB-Shipping Point - Speed Forwarder
Dec. 13 FOB-Shipping Point - Speed Forwarder
Dec. 15 FOB-Shipping Point - Speed Forwarder

ACCOUNT: Purchase Discounts

DATE DESCRIPTION
Dec. 15 Voucher #010
Dec. 22 Voucher #013

ACCOUNT: Purchase Returns and Allowances

DATE DESCRIPTION
Dec. 13 Merchandise Returned to Hyzel Trading
Dec. 20 Merchandise Returned to Nicanor Trading

ACCOUNT: Salaries Expense

DATE DESCRIPTION
Dec. 15 Payment of Salaries
Dec. 30 Payment of Salaries

ACCOUNT: Rent Expense

DATE DESCRIPTION
Dec. 02 Rent for 3 months

ACCOUNT: Insurance Expense

DATE DESCRIPTION
Dec. 02 5 months Insurance Coverage

ACCOUNT: Office Supplies Expense

DATE DESCRIPTION
Dec. 02 Office Supplies - Allan Supplies

ACCOUNT: Store Supplies Expense

DATE DESCRIPTION
Dec. 02 Store Supplier - Allan Supplies

ACCOUNT: Utilities Expense

DATE DESCRIPTION

ACCOUNT: Depreciation Expense

DATE DESCRIPTION

ACCOUNT: Doubtful Accounts

DATE DESCRIPTION

ACCOUNT: Taxes and Licenses

DATE DESCRIPTION
Dec. 02 Taxes and Licenses to City Treasurer

ACCOUNT: Freight-Out
DATE DESCRIPTION
Dec. 03 FOB Destination - Speed Forwarder
Dec. 03 FOB Destination - Speed Forwarder
Dec. 03 FOB Destination - Speed Forwarder

ACCOUNT: SSS Contribution

DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015
ACCOUNT: Pag-IBIG Contribution
DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015

ACCOUNT: PhilHealth Contribution

DATE DESCRIPTION
Dec. 30 Employer's Share per Voucher #015
Note: To easily find the Account Titles, press Ctrl+F, then type the Acount Title or Account Number,

101
PR DEBIT CREDIT BALANCE
GJ-1 450,000 450,000
CRJ-1 325,450 775,450
CDJ-1 295,422 480,028

102
PR DEBIT CREDIT BALANCE
GJ-1 2,240 (2,240)
GJ-1 3,360 (5,600)
GJ-1 2,240 (7,840)
SJ-1 378,560 370,720
CRJ-1 303,520 67,200

103
PR DEBIT CREDIT BALANCE

104
PR DEBIT CREDIT BALANCE
GJ-1 500,000 500,000

105
PR DEBIT CREDIT BALANCE

106
PR DEBIT CREDIT BALANCE

107
PR DEBIT CREDIT BALANCE
 108
PR DEBIT CREDIT BALANCE

109
PR DEBIT CREDIT BALANCE
GJ-1 360.00 (360.00)
GJ-1 120.00 (480.00)
PJ-1 20,400.00 19,920.00
CDJ-1 4,521.60 24,441.60

110
PR DEBIT CREDIT BALANCE
GJ-1 120,000 120,000

111
PR DEBIT CREDIT BALANCE

112
PR DEBIT CREDIT BALANCE
90,000

113
PR DEBIT CREDIT BALANCE
 201
PR DEBIT CREDIT BALANCE
GJ-1 3,360 (3,360)
GJ-1 1,120 (4,480)
CDJ-1 129,920 (134,400)
PJ-1 190,400 56,000

202
PR DEBIT CREDIT BALANCE

203
PR DEBIT CREDIT BALANCE

204
PR DEBIT CREDIT BALANCE

205
PR DEBIT CREDIT BALANCE

206
PR DEBIT CREDIT BALANCE
GJ-1 1,000 1,000
CDJ-1 1,000 2,000

207
PR DEBIT CREDIT BALANCE
GJ-1 500 500
CDJ-1 500 1,000
 208
PR DEBIT CREDIT BALANCE
GJ-1 500 500
CDJ-1 500 1,000

209
PR DEBIT CREDIT BALANCE
CDJ-1 4,000 4,000

210
PR DEBIT CREDIT BALANCE
GJ-1 240.00 (240.00)
GJ-1 360.00 (600.00)
GJ-1 240.00 (840.00)
SJ-1 40,560.00 39,720.00
CRJ-1 2,349.60 42,069.60

211
PR DEBIT CREDIT BALANCE

301
PR DEBIT CREDIT BALANCE
GJ-1 1,160,000 1,160,000

303
PR DEBIT CREDIT BALANCE
 401
PR DEBIT CREDIT BALANCE
SJ-1 338,000 338,000
CRJ-1 25,000 363,000

402
PR DEBIT CREDIT BALANCE
CRJ-1 1,760 1,760
CRJ-1 2,100 3,860
CRJ-1 1,560 5,420

403
PR DEBIT CREDIT BALANCE
GJ-1 2,000 2,000
GJ-1 3,000 5,000
GJ-1 2,000 7,000

404
PR DEBIT CREDIT BALANCE

501
PR DEBIT CREDIT BALANCE
PJ-1 170,000 170,000
CDJ-1 40,000 210,000

502
PR DEBIT CREDIT BALANCE
CDJ-1 1,800 1,800
CDJ-1 1,500 3,300
CDJ-1 1,000 4,300

503
PR DEBIT CREDIT BALANCE
CDJ-1 1,140 1,140
CDJ-1 1,180 2,320

504
PR DEBIT CREDIT BALANCE
GJ-1 3,000 3,000
GJ-1 1,000 4,000

601
PR DEBIT CREDIT BALANCE
CDJ-1 25,000 25,000
CDJ-1 40,000 65,000

602
PR DEBIT CREDIT BALANCE
CDJ-1 15,000 15,000

603
PR DEBIT CREDIT BALANCE
CDJ-1 15,000 15,000

604
PR DEBIT CREDIT BALANCE
CDJ-1 10,000 10,000

605
PR DEBIT CREDIT BALANCE
CDJ-1 8,000 8,000

606
PR DEBIT CREDIT BALANCE

607
PR DEBIT CREDIT BALANCE

608
PR DEBIT CREDIT BALANCE

609
PR DEBIT CREDIT BALANCE
CDJ-1 8,000 8,000

610
PR DEBIT CREDIT BALANCE
CDJ-1 2,000 2,000
CDJ-1 1,000 3,000
CDJ-1 1,000 4,000

611
PR DEBIT CREDIT BALANCE
GJ-1 1,000 1,000
 612
PR DEBIT CREDIT BALANCE
GJ-1 500 500

613
PR DEBIT CREDIT BALANCE
GJ-1 500 500
or Account Number, & then Enter.