Transactions for the Tacenda's Bookstore for January 2019 follows:

Jan 1 The organization invested ₱500,000 for their new business

2 Recorded an inventory worth ₱30,000 bought in cash.

3 Sold merchandise to Ms. Corpuz worth ₱75 000.

5 Purchased vacuum cleaner for ₱2, 800, air conditioner for 38 000, computer set
for 19 000

10 Purchased merchandise on credit from Vinmill Publishers, terms 2/15, n/30, FOB
destination, ₱70,000.

12 Sold merchandise on credit to Gurang Book Shop, terms 1/15, n/30, FOB shipping
point, ₱30,000.

15 Paid Mr. Trinidad a two-month advance for the rented building amounting to
₱30,000.

16 Purchased merchandise on credit from Made Hardy Bookstore, terms 2/15, n/30,
FOB shipping point, ₱45,000

18 Received freight bill from LBC from shipment received on January 16, ₱600.

19 Sold merchandise on credit to Quitoras Books, terms 1/15, n/30, FOB destination,
₱50,000.

21 Purchased merchandise from Vinmill Publishers, terms 2/15, n/30, FOB shipping
point, ₱26,500

23 Received freight bill from LBC for sale on January 19, ₱300.

24 Paid Vinmill Publishers for purchase on account on January 10.

26 Sold merchandise to Mr. Villianueva amounting to ₱45 000.

27 Received payment in full for Gurang Book Shop purchase on January 12

30 Paid Made Hardy Bookstore in full amount owed on January 16 purchase

31 Received an electricity bill for the month January amounting to ₱5,000.

Transactions for the Tacenda's Bookstore for Fenruary 2019 follows:

1 Received cash refund for faulty merchandise worth of ₱4000 against Vinmill
publishers on January 10

3 Received payment from Quitoras Book Shop for the purchase on January 19.

5 Paid Vinmill Publishers in full for the amount owed on purchase on January 21.

6 Purchased office supplies from Benitez Supplies for ₱5,000, terms n/10

7 Sold merchandise to Sir Tran Trading on credit, terms 2/10, n/30, FOB shipping
point, ₱8,000

11 Issued a credit memo to Sir Tran Trading for returned merchandise, ₱2,500

13 Sold merchandise for cash, ₱9,000

15 Paid for purchase of feb 6.

16 Paid freight entity for freight charges for January 18 & 23

17 Received payment of amount owed by Sir Tran Trading for purchase of feb 7, less
credits of feb 11

20 Paid Made Hardy Bookstore for the balance on the January 16 purchase

22 Sold Merchandise for cash, ₱10,000

january transactions
Jan 1 cash 500000
capital 500000
2 purchases 150000
cash 150000
3 cash 75000
sales 75000
5 equipment 59800
cash 59800
10 purchases 40000
accounts payable 40000
12 accounts receivable 30000
sales 30000
15 prepaid rent 30000
cash 30000
16 purchases 45000
accounts payable 45000
18 freight in 600
accounts payable 600
19 accounts receivable 50000
sales 50000
21 purchases 26500
accounts payable 26500
23 freight in 300
accounts payable 300
24 accounts payable 40000
purchase discount 800
cash 39200
26 cash 45000
sales 45000
27 cash 29700
sales discount 300
accounts receivable 30000
30 accounts payable 45000
cash 44100
purchase discount 900
31 utilities expense 5000
utilities payable 5000
 february transactions
725000 1172200
Feb 1 cash 4000
purchase return 4000
3 cash 49500
Sles discount 500
accounts receivable 50000
5 accounts payable 26500
cash 25970
purchase discount 530
6 purchases 5000
accounts payable 5000
7 accounts receivable 8000
sales 8000
9 accounts payable 1500
purchase return 1500
11 sales return 2500
accounts receivable 2500
13 cash 9000
sales 9000
15 accounts payable 3500
cash 3500
16 freight in 900
cash 900
17 cash 5390
sales discount 110
accounts receivable 5500
20 accounts payable 45000
cash 45000
22 cash 10000
sales 10000
trial balance: unadjusted
january

cash 326600
accounts receivable 50000

prepaid rent 30000

equipment- vaccumm 2800
equipment -computer 19000
equipmet- air conditioner 38000
purchases 261500
accounts payable 27400
utilities payable 5000
sales 200000
capital 500000
sales return
sales discount 300
purchase return
purchase dsicount 1700
freight in 900
utilities expense 5000

adjuting entries january

*tacenda paid 5000 for utilities payable received on january 31

utilities payable 5000

cash 5000
rent expense 15000
prepeaid rent 15000
depreciation expense-air conditioner 25
accum dep air conditioner
25
depreciation expense- vaccum 8.33
accum dep-vacuum
8.33

depreciation expense-computer 20.83

acc dep- computer 20.83
merchandise inventory 62400
income summary
62400
based on physical count, the merchandise at the end of the
january amounts to 62400

Trial
balance:adjusted:january

cash 321600
accounts reciavble 50000

prepaid rent 15000

cvacuum 2800
computer 19000
air conditioner 38000
purchases 261500
accumulated dep-computer 20.83
accum dep vacuum 8.33
accum dep air con 25
accounts payable 27400
utilties payable
capital 500000
sales 200000
sales return
sales discount 300
purchase return
purchase discount 1700
freigth in 900
utilities expense 5000
dep expense computer 20.83
dep expense vaccum 8.33
dep expenseair con 25

rent expense 15000

merchandise inventory 62400
income summary 62400
closing entries:
januray

sales 200000
purchase discount 1700

income summary 201700

purchases 261500
sales discount 300
freight in 900
utilities expense 5000
dep expense
computer 20.83
dep expense vacuum 8.33
dep expense 25
rent expense 15000
income summary 282754.2

capital -18654.2
income summary -18654.2

income satement changes in equity

sales 200000 capital beginning 500000

less:sales discount -300 add: net income/loss -18654.2

net sales: 199700 less drawings 0
less: cogs 198300 capital ending 481345.8
groos profit 1400
less operating expense 20054.16

net income/loss -18654.2

cogs computation: January
merchadise inventory, beg 0
add: purchases 261500
freight in 900
(purchase discount -1700 260700
cogas 260700
less: merchandise inv, end 62400
cogs 198300

finanacial position

currrent assets

cash 321600
account receivable 50000
prepaid rent 15000
merchandise ineventory 62400
total current assets 449000

non current

eq 59800
accum dep -54.16
total non current 59745.84

total assets 508745.8

LIABILITY
current liability
accounts payable 27400
utilities payable

EQUITY

capital 481345.8

total liab and equity 508745.8