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JOURNAL ENTRIES

1 Cash 113, 000


Accounts Receivable 13, 000
#
2 Accounts Payable 64, 000
Cash 62, 080
Purchase Discount 1, 920
#
4 Purchased 170, 000
Acoounts Payable 170, 000
#
5 Accounts Receivable 270, 000
Sales 270, 000
#
7 Advertising Expense 6, 000
Cash 6, 000
#
7 Cash 250, 000
Sales 250, 000
#
8 Accounts Payable 170, 000
Cash 164, 900
Purchase Discount 5, 100
#
9 Transportation Ill 4, 000
Cash 4, 000
#
10 Sales Return and Allowances 70,000
Accounts Receivable 70,000
#
12 Sales Discounts 4,000
Cash 196,000
Accounts Receivable 200,000
#
14 Interest Expense 26,000
Cash 26,000
#
15 Salaries Expense 51,000
Cash 51,000
#
16 Account Receivable 392,000
Sales 392,000
#
18 Transportation Out 4,000
Cash 4,000
#
19 Supplies 21,000
Cash 21,,000
#
20 Purchase 125,000
Accounts Payable 125,000
#
22 Miscellsneous Expense 7,000
Cash 7,000
#
23 Cash 384,000
Sales Discounts 7,840
Account Receivable 392,000
#
24 Purchase 373,000
Accounts Payable 373,000
#
24 Transportation In 9,000
Cash 9,000
#
25 Account Receivable 420,000
Sales 420,000
#
26 Sles Return and Allowances 71,000
Account Receivable 71,000
#
28 Buenaflor, Withdrawals 400,000
Cash 400,000
#
28 Accounts Payable 25,000
Purchase Return and Allowances 25,000
#
Cash Account Receivable Accounts Payable
Cash Balance 33, Feb.2 62,080 Feb.1 192,000 Feb.1 113,000 Feb.2 64,000
Feb.1 113,000 Feb.7 6,000 Feb.5 270,000 Feb.10 70,000 Feb.8 170,000 Feb.4
Feb.7 250,000 Fe.8 164,900 Feb.16 392,000 Feb.12 200,000 Feb.28 25,000 Feb.20
Feb.12 196,000 Feb.9 4,000 Feb.25 420,000 Feb.23 392,000 Feb.24
Feb.23 384,160 Feb.14 26,000 Feb.26 71,000 259,000
Feb.15 51,000 ### 846,000
Feb.18 4,000 428,000
Feb.19 21,000
Feb.22 7,000 Buenaflor, Withdrawals
Feb.24 9,000 Sales Feb.28 400,000
Feb.28 400,000 Feb.5 270,000 400,000
976,160 754,980 Feb.7 250,000
221,180 Feb.16 392,000
Feb.25 420,000 Sales Return and Allowances
1,332,000 Feb.10 70,000
Supplies Feb.26 71,000
51,000 141,000
Feb.19 21,000
72,000

Purchases Purchases Returns and Allowances


Feb.4 170,000 Feb.28 25,000
Feb.20 125,000 25,000
Feb.24 373,000
668,000
Transpotation In
Feb.9 4,000 Feb.15
PurchasesDiscounts Feb.24 9,000
Feb.2 1,920 13,000
Feb.8 5,100
7,020

Transpotation Out Advertising Expense


Feb.18 4,000 Feb.7 6,000 Feb.22
4,000 6,000

Interest Expense
Feb.14 26,000
26,000
108,000
170,000
125,000
373,000
776,000
517,000

r, Withdrawals

urn and Allowances

Sales Discounts
Feb.12 4,000
Feb.23 7,840
11,840

Salaries Expense
51,000
51,000
Miscellaneous Expense
7,000
7,000
TRIAL BALANCE

Cash 221,180
Accounts Receivable 428,000
Merchandise Inventory 413,000
Supplies 72,000
Prepaid Insurance 48,000
Land 460,000
Building 250,000
Accumulated Depreciation-Building 350,000
Equipment 2,310,000
Accumuated Depreciation-Equipment 630,000
Accounts Payable 7,000
Salaries Payable
Mortgage Payable 2,600,000
Buenaflor,Capital 1,569,000
Buenaflor,Withdrawals 400,000
Income Summary
Sales 1,332,000
Sales Return and Allowances 141,000
Sales Discounts 11,840
Purchases 668,000
Purchases Return and Allowances 25,000
Purchases Discounts 7,020
Transportation In 13,000
Salaries Expense 1,000
Supplies Expense
Insurance Expense
Depreciation Expense-Building
Depreciation Expense-Equipment
Transportation Out 4,000
Advertising Expense 6,000
Interest Expense 20,000
Miscellaneous Expense 7,000
7,030,000 7,030,000
ADJUSTING JOURNAL ENTRIES

Salaries Expense 51,000


Salaries Payables 51,000
#

Insurance Expense 2,000


Prepaid Insurance 2,000
Depreciation Expense-Building 9,000
Accumulated Depreciation-Building 9,000
Depreciation Expense-Equipment 12,000
Accumulated Depreciation-Equipment 12,000
Supplies Expense 14,000
Supplies 14,000
#

Income Summary 413,000


Merchandise Inventory,Beg. 413,000
Merchandise Inventory End 397,000
Income Summary 397,000
#
ADJUSTED TRIAL BALANCE

Cash 221, 180


Accounts Receivable 428, 000
Merchandise Inventory 413, 000
Supplies 58, 000
Prepaid Insurance 46, 000
Land 460, 000
Building 1, 750, 000
Accumulated Depreciation Building 359, 000
Equipment 2, 310, 000
Accumulated Depreciation Equipment 642, 000
Accounts Payable 517, 000
Salaries Payable 51, 000
Mortgage Payable 2, 600, 000
Buenaflor Capital 1, 569, 000
Buenaflor Withdrawals 400, 000
Income Summary
Sales 1, 332, 000
Sales Return And Allowances 141, 000
Sales Discounts 11, 840
Purchases 668, 000
Purchases Return and Allowances 25, 000
Purchase Discounts 7, 020
Transportation In 13, 000
Salaries Expense 102, 000
Supplies Expense 14, 000
Insurance Expense 2, 000
Depreciation Expense Building 9, 000
Depreciation Expense Equipment 12, 000
Transportation Out 4, 000
Advertising Expense 6, 000
Interest Expense 26, 000
Miscellaneous Expense 7, 000
7, 102, 020 7, 102, 020
Teresita Buenaflor Shoes
Statement of Financial Position
For the month ended February 28, 2018
ASSETS
Current Asset
Cash 221,180
Account Receivable 428,000
Merchandising Inventory Ending 397,000
Supplies 58,000
Prepaid Insurance 46,000
Total Current Asset 1,150,180
Non Current Asset
Land 460,000
Building 1,750,000
Accumulated Depreciation Building -359,000
Equipment 2,310,000
Acumulated Depreciation Equipment -642,000
Total Non-Current Asset 3,519,000
Total Assets 4,669,180
LIABILITIES AND EQUITY
Current Liabilities
Account Payable 517,000
Salaries Payable 51,000
Total Current Liabilities 568,000
Non - Current Liabilities
Mortgage Payable 2,600,000
Total Non-Current Liabilities 2,600,000
Total Liabilities 3,168,000
Equity
Buenaflor,Capital 1,501,180
Total Liabilities and Equity 4,669,180
Teresita Buenaflor Shoes
Statement of Comprehensive Income
For the month ended February 28, 2018

Net Sales
Gross Sales 1, 332, 000
Less: Sales R and A 141, 000
Sales Discounts 11, 840 152, 840
Net Sales 1, 179, 160
Cost of SaLes
March Inventory Expense 413, 000
Purchases 668, 000
Less: Purchases R and A 25, 000
Purchase Discounts 7, 080 32, 020
Net Purchases 635, 980
Transportation In 13, 000
Net Cost of Purchases 648, 980
Goods Available for Sale 1, 061, 980
Less: March Inventory End 397, 000
Cost of Sales 664, 980
Gross Profit 514, 180
Operating Expenses
Salaries Expense 108, 000
Supplies Expense 14, 000
Insurance Expense 2, 000
Depreciation Expense Building 9, 000
Depreciation Expense Equipment 12, 000
Transportation Out 4, 000
Advertising Expense 6, 000
Interest Expense 26, 000
Miscellaanous Expense 7, 000
182, 000
332, 180
Teresita Buenaflor Shoes
Statement of Changes in Equity
For the March ended February 28, 2018

Buenaflor, Capital 1, 159, 000


Add: Profit 332, 180
Total 1, 901, 180
Less: Withdrawals 400, 000
Buenaflor Ending Capital 1, 501, 180
Cash Balance, Feb.1,2018 33,000
Cash Flow From Operating Activities
Add: Cash Inflows from Operating Activities
Payments Received from Payments 943,160
Deduct: Cash Outflows from Operating Activities
Transpotation In and Out 17,000
Payments for Salaries 51,000
Payments rfrom Supplies 21,000
Payments for Activities 6,000
Payments for Intetest 26,000
Payments for Miscelleneous 7,000
Payments to Supplies 226,980
Net Cash Flow from Operating Activities 588,180
Cash Flow from Financing Activities
Add: Cash Inflowsfrom Financing Activities
Buenaflor, Capital
Deduct: Cash Outflows from Financing Activities
Buenaflor, Withdrawals 400,000
Netcash flows from Financing Activities

Cash Balance February 28, 2018 221,180


Closing Journal Entries

Merchandising Inventory End 397,000


Sales 1,332,000
Purchases Returns and Allowances 25,000
Purchases Discounts 7,000
Income Summary 1,761,020
#
Income Summary 1,428,840
Merchandising Inventory Beginning 413,000
Sales R and A 141,000
Sales Discounts 11,840
Purchases 668,000
Transportation In 13,000
Salaries Expense 102,000
Salaries Supplies 14,000
Insurance Expenses 2,000
Transportation out 4,000
Depreciation Expense Building 9,000
Depreciation Expense Equipment 12,000
Interest Expense 26,000
Micellenous Expense 7,000
Advertising Expense 6,000
#
Income Summary 332,000
Buenaflor,Capital 332,000
#
Buenaflor,Capital 400,000
Buenaflor,Withdrawals 400,000
Post Closing Journal Entries

Cash 281, 180


Accounts Receivable 428, 000
Mercahndising Inventory End 397, 000
Supplies 58, 000
Prepaid Insurance 46, 000
Land 460, 000
Building 1, 750, 000
Accumulated Depreciation Building 359, 000
Equipment 2, 310, 000
Accumulated Depreciation Equipment 642, 000
Accounts Payable 517, 000
Salaries Payable 51, 000
Mortgage Payable 2, 600, 000
Buenaflor, Capital 1, 501, 180
5, 670, 180 5, 670, 180
Cash Balance February 1, 2018 33, 000
Cash Flow from Operating Activities
Add: Cash Inflows from Operating Activities 943, 160
Total 976, 160
Payments to Employees (51, 000)
Payments for Advertising (6, 000)
Payments for Supplies (21, 000)
Payments for Transportation Out (4, 000)
Payments for Interest (26, 000)
Payments for Miscllanoues (7, 000)
Payments for Transportation In (13, 000)
GRADE 12 ABM N5
Canete, Erwin Jay Z.
Del Castillo, Juphet V.
Tano, Ephraim V.
Canoy, Claygel
Remo, Vanessa Seth
Ypanto, April Brenda