Dressny Inc.

Dressny Inc. is a merchandising business engaged in selling branded dresses. It has

an authorized capital of ₱900,000.00 and paid-up capital of ₱720,000.00. Dressny
Inc. prepares financial statements on a monthly basis and also prepares adjusting
and closing entries at the end of each month.
CHART OF ACCOUNTS
ASSETS REVENUE
100 Cash 400 Sales
105 Accounts Receivable 405 Sales Returns and Allowances
110 Merchandise Inventory 410 Sales Discount
115 Input VAT COST OF SALES
120 Store Equipment 500 Purchases
120- Accum. Depreciation-Store 505 Purchase Returns and
1 Equipment Allowances
125 Office Equipment 510 Purchase Discount
125- Accum. Depreciation-Office EXPENSES
1 Equipment
LIABILITIES 600 Salaries Expense
200 Accounts Payable 605 SSS, Philhealth & Pag-ibig
Contributions
205 Withholding Taxes Payable 610 Rent Expense
210 Expanded Withholding Taxes 615 Utilities Expense
Payable
215 SSS, Philhealth & Pag-ibig 620 Supplies Expense
Con. Payable
220 Utilities Payable 625 Transportation Expense
225 Output VAT 630 Depreciation Expense-Store
Equipment
230 Cash Dividends Payable 635 Depreciation Expense-Office
Equipment
EQUITY 640 Miscellaneous Expense
300 Ordinary Share Capital, 645 Income Tax Expense
P100 par
305 Retained Earnings
310 Income Summary
Notes:
1. Dressny Inc. uses General Journals for returns, adjusting, and closing entries
and Special Journals: Sales Journals, Cash Receipts Journals, Purchase
Journals & Cash Disbursements Journals.
2. Depreciation Expense on Warehouse and Store Equipment is 15% per annum based
on their balances.
3. Purchase of supplies is immediately charged to expense.
4. Merchandise Inventory at July 31, 2023 is ₱672,000.00.

POST-CLOSING TRIAL BALANCE

As of June 30,2023
Debit Credit
Cash ₱350,000.00
Accounts Receivable 65,000.00
Merchandise Inventory 186,000.00
Input VAT 22,320.00
Warehouse Equipment 240,000.00
Accumulated Depreciation – Office Equipment ₱38,000.00
Store Equipment 372,000.00
Accumulated Depreciation – Store Equipment 111,600.00
Accounts Payable 76,000.00
Withholding Taxes Payable 1,500.00
Expanded Withholding Taxes Payable 975.00
SSS, Philhealth, and Pag-ibig Contributions 6,660.00
Payable
Utilities Payable 5,410.00
Ordinary Share Capital 720,000.00
Retained Earnings 275,175.00
TOTAL ₱1,235,320.00 ₱1,235,320.00
 Dressny Inc. Dressny Inc.
Tagbilaran City Tagbilaran City

Invoice#4001 Date: July 5, 2023 Invoice#4002 Date: July 11, 2023

Client: Rapunzel Client: Moana
Address: Cebu City Address: Manila City
Terms: 2/10, n/30 Terms: 2/10, n/30
Particulars Amount Particulars Amount
Sales ₱380,000.00 Sales ₱420,000.00
VAT 45,600.00 VAT 50,400.00
Total ₱425,600.00 Total ₱470,400.00
Prepared by: Prepared by:
Mickey Mouse Mickey Mouse

Dressny Inc.
Tagbilaran City Dressny Inc.
Tagbilaran City
Invoice#4003 Date: July 18, 2023
Client: Snow White Invoice#4004 Date: July 25, 2023
Address: Quezon City Client: Cinderella
Terms: 2/10, n/30 Address: Dumaguete City
Particulars Amount Terms: 2/10, n/30
Sales ₱540,000.00 Particulars Amount
VAT 64,800.00 Sales ₱116,000.00
Total ₱604,800.00 VAT 13,920.00
Prepared by: Total ₱129,920.00
Mickey Mouse Prepared by:
Mickey Mouse

Dressny Inc.
Tagbilaran City Dressny Inc.
Tagbilaran City
Receiving Report #0015 Date: July 21, 2023
Client: Snow White OR No. 5001 Date: July 8, 2023
Address: Quezon City Client: Aurora
Reason: Damaged Merchandise Address: Davao City
Particulars Amount
Particulars Amount
Invoice #4003 ₱80,000.00
Cash Sales ₱236,000.00
VAT 9,600.00
VAT 28,320.00
Total ₱89,600.00
Total ₱264,320.00
Prepared by:
Prepared by:
Mickey Mouse
Minnie Mouse

Dressny Inc.
Dressny Inc.
Tagbilaran City
Tagbilaran City
OR No. 5002 Date: July 11, 2023
OR No. 5003 Date: July 25, 2023
Client: Rapunzel
Client: Snow White
Address: Cebu City
Address: Quezon City
Invoice No: 4001
Invoice No: 4003
Particulars Amount
Particulars Amount
Amount ₱425,600.00
Amount ₱604,800.00
Discount (8,512.00)
Discount (10,496.00)
Total ₱417,088.00
Returns (89,600.00)
Prepared by:
Total ₱504,704.00
Minnie Mouse
Prepared by:
Minnie Mouse
 Dressny Inc. PIXAR
Tagbilaran City
Invoice #15411 Date: July 7, 2023
OR No. 5004 Date: July 27, 2023 Client: Dressny Inc.
Client: Jasmine Address: Tagbilaran City
Address: Naga City
Invoice No: 3018 Terms: 2/10, n/30
Particulars Amount Particulars Amount
Amount ₱65,000.00 Amount ₱158,000.00
VAT 18,960.00
Total ₱65,000.00 Total ₱176,960.00
Prepared by: Prepared by:
Minnie Mouse Goofy

20th Century Fox Netfleex

Invoice #4235 Date: July 13, 2023 Invoice #00213 Date: July 16, 2023
Client: Dressny Inc. Client: Dressny Inc.
Address: Tagbilaran City Address: Tagbilaran City

Terms: n/30 Terms: 2/10, n/30

Particulars Amount Particulars Amount
Amount ₱285,000.00 Amount ₱714,000.00
VAT 34,200.00 VAT 85,680.00
Total ₱319,200.00 Total ₱799,680.00
Prepared by: Prepared by:
Looney Lilo

PIXAR

Receiving Report #1236 Date: July 12, 2023

Client: Dressny Inc.
Address: Tagbilaran City

Reason: Damaged Merchandise

Particulars Amount
Amount ₱18,000.00
VAT 2,160.00
Total ₱20,160.00
Prepared by:
Goofy

Dressny Inc. 100-200-300-01 DRESSNY INC. Check No.: 1-001 BELLE THREADS
Tagbilaran City
July 7, 2023 Date: JULY 7, 2023
Check Voucher#001 Pay to the order of MERIDA SEWS ₱72,800.00 Customer: DRESSNY INC.
Date: July 7, 2023 SEVENTY-TWO THOUSAND EIGHT HUNDRED PESOS ONLY Tagbilaran City
Payee: MERIDA SEWS Philbank Prince CHarming
11 00 22 31 00 Authorized Signature
Particulars Amount
Description Amount Office Equipment ₱65,000.00
Office Equipment ₱65,000.00 VAT 7,800.00
VAT 7,800.00 Total ₱72,800.00
Total ₱72,800.00 Prepared by:
Check #:1-001 Stitch
Prepared by:
Alladin
 100-200-300-01 DRESSNY INC. Check No.: 1-002

July 15, 2023

Pay to the order of PIXAR ₱197,120.00
Dressny Inc.
ONE HUNDRED NINETY-SEVEN THOUSAND ONE HUNDRED
Tagbilaran City
TWENTY PESOS ONLY PIXAR
Philbank Prince CHarming
Check Voucher#002 Date: July 15, 11 00 22 31 00 Authorized Signature OR No. 51234 Date: JULY
2023
15, 2020
Payee: PIXAR
Customer: DRESSNY INC.
Tagbilaran City
Description Amount
Invoice 15411 ₱176,000.00
Particulars Amount
VAT 21,120.00
Invoice 15411 ₱176,000.00
Total ₱197,120.00
VAT 21,120.00
Check #:1-002
Total ₱197,120.00
Prepared by:
Prepared by:
Alladin
Stitch

Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-003 DISNEYLAND

Tagbilaran City 01
Date: JULY 15, 2023
Check Voucher#003 July 15, 2023 Customer: DRESSNY INC.
Date: July 15, 2023 Pay to the order of DISNEYLAND ₱91,200.00 Tagbilaran City
Payee: DISNEYLAND NINETY-ONE THOUSAND TWO HUNDRED PESOS ONLY
Philbank Prince CHarming
11 00 22 31 00 Authorized Signature
Particulars Amount
Description Amount June Rental ₱96,000.00
June Rental ₱96,000.00 Expanded WT (4,800.00)
Expanded WT (4,800.00) Total ₱91,200.00
Total ₱91,200.00 Prepared by:
Check #:1-003 Stitch
Prepared by:
Alladin

Dressny Inc. 100-200-300-01 DRESSNY INC. Check No.: 1-004

DRESSNY INC.
Tagbilaran City
July 15, 2023
PAYROLL SUMMARY
Check Voucher#004 Pay to the order of CASH ₱42,500.00
FORTY-TWO THOUSAND FIVE HUNDRED PESOS ONLY JULY 1-15, 2023
Date: July 15, 2023
Payee: CASH Philbank Prince CHarming
11 00 22 31 00 Authorized Signature Particulars Amount
Description Amount Payroll ₱44,000.00
Payroll ₱44,000.00 Pag-ibig (400.00)
Pag-ibig (400.00) Philhealth (1,100.00)
Philhealth (1,100.00) Total ₱42,500.00
Total ₱42,500.00 Prepared by:
Check #:1-004 Stitch
Prepared by:
Alladin

Dressny Inc. 100-200-300-01 DRESSNY INC. Check No.: 1-005 BELLE THREADS
Tagbilaran City
July 16, 2023 Date: JULY 16, 2023
Check Voucher#005 Pay to the order of BELLE THREADS Customer: DRESSNY INC.
Date: July 16, 2023 ₱94,080.00
Tagbilaran City
Payee: BELLE THREADS NINETY-FOUR THOUSAND AND EIGHTY PESOS ONLY
Philbank Prince CHarming
11 00 22 31 00 Authorized Signature Particulars Amount
Description Amount Office Supplies ₱84,000.00
Office Supplies ₱84,000.00 VAT 10,080.00
VAT 10,080.00 Total ₱94,080.00
Total ₱94,080.00 Prepared by:
Check #:1-005 Stitch
Prepared by:
Alladin
 Dressny Inc. 100-200-300-01 DRESSNY INC. Check No.: 1-006 BIR
Tagbilaran City
July 16, 2023 Date: JULY 16, 2023
Check Voucher#006 Pay to the order of BIR ₱2,300.00 Customer: DRESSNY INC.
Date: July 16, 2023 TWO THOUSAND THREE HUNDRED PESOS ONLY Tagbilaran City
Payee: BIR Philbank Prince CHarming
11 00 22 31 00 Authorized Signature
Particulars Amount
Description Amount
Withholding tax ₱1,500.00
Withholding tax ₱1,500.00
Expanded WT 800.00
Expanded WT 800.00
Total ₱2,300.00
Total ₱2,300.00
Prepared by:
Check #:1-006 Stitch
Prepared by: 100-200-300-01 DRESSNY INC. Check No.: 1-007
Alladin
July 17, 2023
Pay to the order of SSS, PHILHEALTH, PAG-IBIG
Dressny Inc. ₱4,300.00
Tagbilaran City FOUR THOUSAND THREE HUNDRED PESOS ONLY
Philbank Prince CHarming
Check Voucher#007 11 00 22 31 00 Authorized Signature
Date: July 17, 2023 TEACUP BANK
Payee: SSS, PHILHEALTH, PAG-
IBIG Date: JULY 17, 2023
Customer: DRESSNY INC.
Description Amount Reference#2023-222
Employee’s Share ₱1,800.00
Employer’s Share 3,500.00 Particulars Amount
Total ₱4,300.00 Employee’s Share ₱1,800.00
Check #:1-007 Employer’s Share 3,500.00
Prepared by: Total ₱4,300.00
Alladin Prepared by:
Stitch

Dressny Inc. 100-200-300-01 DRESSNY INC. Check No.: 1-008 MANILAD

Tagbilaran City
July 18, 2023 OR#04109
Check Voucher#008 Pay to the order of MANILAD ₱3,000.00 Date: JULY 18, 2023
Date: July 18, 2023 THREE THOUSAND PESOS ONLY Customer: DRESSNY INC.
Payee: Manilad Philbank Prince CHarming
Invoice No: 571109
11 00 22 31 00 Authorized Signature
Description Amount Particulars Amount
Waterbill - June ₱3,000.00 Waterbill - June ₱3,000.00

Total ₱3,000.00 Total ₱3,000.00

Check #:1-008 Prepared by:
Prepared by: Stitch
Alladin

Dressny Inc.
Tagbilaran City 100-200-300-01 DRESSNY INC. Check No.: 1-009 MERALCO

July 18, 2023 OR#45125

Check Voucher#009
Pay to the order of MERALCO ₱2,410.00 Date: JULY 18, 2023
Date: July 18, 2023
TWO THOUSAND FOUR HUNDRED TEN PESOS ONLY Customer: DRESSNY INC.
Payee: Meralco
Philbank Prince CHarming Invoice No: 684923
11 00 22 31 00 Authorized Signature
Description Amount
Electricity Bill - ₱2,410.00 Particulars Amount
June Electricity Bill - ₱2,410.00
Total ₱2,410.00 June
Check #:1-009 Total ₱2,410.00
Prepared by: Prepared by:
Alladin Stitch
 Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-010 ARIELLE
Tagbilaran City 01
OR#1589
Check Voucher#010 July 20, 2023 Date: JULY 20, 2023
Date: July 20, 2023 Pay to the order of ARIELLE ₱76,000.00 Customer: DRESSNY INC.
Payee: Arielle SEVENTY-SIX THOUSAND PESOS ONLY
Philbank Prince CHarming
Particulars Amount
11 00 22 31 00 Authorized Signature
Description Amount Invoice #00025 ₱76,000.00
Invoice #00025 ₱76,000.00
Total ₱76,000.00
Total ₱76,000.00 Prepared by:
Check #:1-010 Stitch
Prepared by:
Alladin
Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-011 NETFLEEX
Tagbilaran City 01
OR#1698
Check Voucher#011 July 28, 2023 Date: JULY 28, 2023
Date: July 28, 2023 Pay to the order of NETFLEEX ₱234,886.00 Customer: DRESSNY INC.
Payee: Netfleex TWO HUNDRED THIRTY-FOUR THOUSAND EIGHT HUNDRED
EIGHTY SIX PESOS ONLY
Particulars Amount
Philbank Prince CHarming
Description Amount Invoice #0059 ₱239,680.00
11 00 22 31 00 Authorized Signature
Invoice #0059 ₱239,680.00 Discount (4,794.00)
Discount (4,794.00) Total ₱234,886.00
Total ₱234,886.00 Prepared by:
Check #:1-011 Stitch
Prepared by:
Alladin

Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-012 ARIELLE

Tagbilaran City 01
OR#6354
Check Voucher#012 July 30, 2023 Date: JULY 20, 2023
Date: July 30, 2023 Pay to the order of DISNEY PLUZ ₱156,000.00 Customer: DRESSNY INC.
Payee: DISNEY PLUZ ONE HUNDRED FIFTY-SIX THOUSAND PESOS ONLY
Philbank Prince CHarming
Particulars Amount
11 00 22 31 00 Authorized Signature
Description Amount Cash Purchases ₱156,000.00
Cash Purchases ₱156,000.00 VAT 18,720.00
VAT 18,720.00 Total ₱174,720.00
Total ₱174,720.00 Prepared by:
Check #:1-012 Stitch
Prepared by:
Alladin

DRESSNY INC.
Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-013
Tagbilaran City 01 PAYROLL SUMMARY
JULY 1-15, 2023
Check Voucher#013 July 31, 2023
Date: July 31, 2023 Pay to the order of CASH ₱42,500.00
Payee: CASH FORTY-TWO THOUSAND FIVE HUNDRED PESOS ONLY Particulars Amount
Philbank Prince CHarming Payroll ₱44,000.00
11 00 22 31 00 Authorized Signature SSS (2,017.00)
Description Amount
Payroll ₱44,000.00 Withholding Taxes (1,467.00)
SSS (2,017.00) Total ₱40,516.00
Withholding Taxes (1,500.00) Prepared by:
Total ₱40,483.00 Stitch
Check #:1-013
Prepared by:
Alladin
 Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-014
Tagbilaran City 01

Check Voucher#014 August 8, 2023

Date: August 8, 2023 Pay to the order of SSS, Philhealth and Pag-ibig
Payee: SSS, Philhealth and Pag- ₱3,500.00
ibig THREE THOUSAND FIVE HUNDRED PESOS ONLY
Philbank Prince CHarming
11 00 22 31 00 Authorized Signature
Description Amount
Employer’s share ₱3,500.00
on SSS, Philhealth
and Pag-ibig
Contributions
Total ₱3,500.00
Check #:1-014
Prepared by:
Alladin

Dressny Inc. 100-200-300- DRESSNY INC. Check No.: 1-015

Tagbilaran City 01

Check Voucher#015 August 10, 2023

Date: August 10, 2023 Pay to the order of CASH ₱75,000.00
Payee: CASH SEVENTY-FIVE THOUSAND PESOS ONLY
Philbank Prince CHarming
11 00 22 31 00 Authorized Signature
Description Amount
Cash Dividends ₱75,000.00
Total ₱75,000.00
Check #:1-015
Prepared by:
Alladin

MANILAD MERALCO

Bill No: 56478 Bill No: 254963

Date: August 20, 2023 Date: August 20, 2023
Payee: DRESSNY INC. Payee: DRESSNY INC.

Description Amount Description Amount

Water ₱2,000.00 Electricity Usage ₱3,600.00
Consumption for for July
July Total ₱3,600.00
Total ₱2,000.00 Prepared by:
Prepared by: Alladin
Alladin
 ______________________________
GENERAL JOURNAL 1

Date Particulars PR Debit Credit

 ______________________________
GENERAL JOURNAL 2

Date Particulars PR Debit Credit

1
 ______________________________
GENERAL JOURNAL 3

Date Particulars PR Debit Credit