La Suerte Commercial

Preliminary Trial Balance

January 31, 20A
Cash in Bank 1,011,180
Accounts Receivable 395,000
Merchandise Inventory 200,000
Supplies on Hand 50,000
Prepaid Advertising 60,000
Transportation Equipment 1,800,000
Accounts Payable 298,500
Advances from customers 100,000
Y. Gutierrez, Capital 2,800,000
Y. Gutierrez, Drawing 20,000
Sales 885,900
Sales Discount 5,220
Sales Returns and Allowances 4,500
Purchases 500,000
Purchase Discounts 1,500
Purchase Returns and Allowances 4,500
Freight-in 2,500
Freight-out 4,700
Salaries Expense 15,000
Utilities Expense 5,800
ADDITIONAL INFORMATION:
 
Unsold inventory at year end, per physical
count, P150,000.00

The transportation equipment has a life of 20

years without salvage value. Straight line
method is use in depreciating the same.

Rent expense is for January and February.

Accrued salaries at month end, P5,000.00

 
The sales account included advances from a
customer, Ms. D, P15,000.00. The goods shall be
delivered on February.

Doubtful account is estimated to be 5,000.

Advances from customers account pertains to

advances made by Mr. C for goods to be
delivered in January (50%) and February
(50%).

The advertising is for 1 year starting January.

The transportation equipment has a life of 20 years
without salvage value. Straight line method is use in
depreciating the same

DATE PARTICULARS PR DEBIT CREDIT

Depreciation Expense 7,500
Accumulated Depreciation-TE 7,500
#
Rent expense is for January and February.

DATE PARTICULARS PR DEBIT CREDIT

Prepaid Rent 5,000
Rent Expense 5,000
#
Accrued salaries at month end, P5,000.00

DATE PARTICULARS PR DEBIT CREDIT

Salaries Expense 5,000
Accrued Salaries Expense 5,000
#
The sales account included advances from a customer,
Ms. D, P15,000.00. The goods shall be delivered on
February

DATE PARTICULARS PR DEBIT CREDIT

Sales 15,000
Advances from Customers 15,000
#
Doubtful account is estimated to be 5,000.

DATE PARTICULARS PR DEBIT CREDIT

Doubtful Accounts 5,000
Allowance for Doubtful Accounts 5,000
#
Advances from customers account pertains to advances
made by Mr. C for goods to be delivered in January
(50%) and February (50%).

DATE PARTICULARS PR DEBIT CREDIT

Advances from Customers 50,000
Sales 50,000
#
The advertising is for 1 year starting January.

DATE PARTICULARS PR DEBIT CREDIT

Advertising Expense 5,000
Prepaid Advertising 5,000
#
 La Suerte Commercial
Final Trial Balance
January 31, 20A
Cash in Bank 1,011,180
Accounts Receivable 395,000
Allowance for Doubtful Accounts 5,000
Merchandise Inventory 200,000
Supplies on Hand 50,000
Prepaid Advertising 55,000
Prepaid Rent 5,000
Transportation Equipment 1,800,000
Accumulated Depreciation-TE 7,500
Accounts Payable 298,500
Accrued Salaries Expense 5,000
Advances from customers 65,000
Y. Gutierrez, Capital 2,800,000
Y. Gutierrez, Drawing 20,000
Sales 920,900
Sales Discount 5,220
Sales Returns and Allowances 4,500
Purchases 500,000
Purchase Discounts 1,500
Purchase Returns and Allowances 4,500
Freight-in 2,500
Freight-out 4,700
Salaries Expense 20,000
Utilities Expense 5,800
Taxes and Licenses 6,500
Rent Expense 5,000
Depreciation Expense 7,500
Advertising Expense 5,000
Doubtful Accounts 5,000
TOTAL 4,107,900 4,107,900