Opening Balances

PURCHASE MERCHANDISE ON ACCOUNT

FREIGHT IN
RETURNED DEFECTIVE MERCHANDISE-CHRISTY'S WHOLESALE OUTLET
PAID LAST MONTH'S WAGES
BANK DEPOSIT
SOLD MERCHANDISE ON ACCOUNT
SALES
FREIGHT COST
RETURNED DEFECTIVE MERCHANDISE-MR. UMAPAS
SALES
PAID UP THE ACCOUNT-AB ENTERPRISE
PURCHASE MERCHANDISE ON ACCOUNT-CHRISTY'S WHOLESALE OUTLET
SOLD MERCHANDISE IN CASH-EQUATE COMPANY
SALES
FREIGHT COST
COLLECTION-MR. UMAPAS
SALARIES EXPENSE
RENTAL
MONTHLY AMORTIZATION
INTEREST EXPENSE
PURCHASE MERCHANDISE ON ACCOUNT-ZACK MANUCFATURING
GASOLINE EXPENSE
SOLD MERCHANDISE CASH- LOYAL CUSTOMER
FREIGHT COST
PAID FULL- CHRISTY'S WHOLESALE OUTLET
PURCHASE MERCHANDISE ON ACCOUNT-TAN TRADING
FREIGHT COST
SOLD MERCHANDISE IN CASH-DEF COMPANY
SALES
ADVERTISING
OWNER'S WITHDRAWAL
ADJUSTMENTS:
DEPRECIATION EXPENSE
ACCUM.DEPN

SUPPLIES EXPENSE
SUPLIES ON HAND

INCOME TAX EXPENSE

INCOME TAX PAYABLE

SALARIES EXPENSE
WAGES PAYABLE

COMMISSION EXPENSE
COMMISSION PAYABLE

TELEPHONE EXPENSE
ACCOUNTS PAYABLE
Cash on hand Cash in bank Accounts receivable PURCHASES
57,600.00 432,750.00 95,300.00 359,600.00
500,000.00

(20,000.00)

(57,600.00) 57,600.00
504,000.00
(450,000.00)

(22,400.00)
20,000.00

448,000.00

(200,000.00)
(5,000.00)
(504,000.00)

(20,000.00)
(20,000.00)
(1,000.00)
350,000.00

(1,000.00)

(392,000.00) 350,000.00
(5,000.00)
896,000.00
(800,000.00)

(30,000.00)

- 912,350.00 72,900.00 557,600.00

36,180.00

10,350.00

10,270.00
(10,270.00)

40,000.00

15,700.00

5,755.00
Supplies on hand VAT input tax Rental deposit Delivery equipment
16,500.00 2,500.00 40,000.00 250,000.00
60,000.00

2,400.00

42,000.00
3,264.00

42,000.00

2,880.00

16,500.00 155,044.00 40,000.00 250,000.00

(10,350.00)
Office equipment Furniture&Fixtures Accum. Depn. Accounts Payable
65,600.00 45,780.00 (36,180.00) (124,500.00)
(560,000.00)

22,400.00

94,000.00
(400,000.00)

(392,000.00)

507,600.00

65,600.00 45,780.00 (36,180.00) (852,500.00)

(36,180.00)

(5,755.00)
VAT payable Wages Payable Commission Payable Loans Payable
(10,650.00) (40,000.00) (12,500.00) (100,000.00)

12,500.00

20,000.00

(10,650.00) (27,500.00) (12,500.00) (80,000.00)

 -

(40,000.00) -

(15,700.00) -

-
De Vera Capital FREIGHT IN CASH VAT output tax
(1,041,800.00)

7,000.00 (7,000.00)
(2,400.00)
(12,500.00)

(54,000.00)

(6,500.00)

(94,000.00)
(48,000.00)
224,000.00 (24,000.00)

504,000.00
(40,000.00)
(2,400.00)

(30,464.00)
168,000.00 (18,000.00)

(507,600.00)

(96,000.00)

(26,880.00)
30,000.00

(1,011,800.00) 7,000.00 171,056.00 (244,800.00)

SALES COST OF SALES FREIGHT EXPENSE WAGES EXPENSE

(450,000.00)
450,000.00
6,500.00
20,000.00
(20,000.00)

(200,000.00)
200,000.00
5,000.00

40,000.00

(150,000.00)
1,000.00

5,000.00
(800,000.00)
800,000.00

(1,580,000.00) 1,430,000.00 17,500.00 40,000.00

RENT EXPENSE INTEREST EXPENSE GASOLINE EXPENSE ADVERTISING EXPENSE

22,400.00

1,000.00

27,200.00

24,000.00

22,400.00 1,000.00 27,200.00 24,000.00

TOTAL
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
 DJ TRADING & MERCHANDISING CO.
BALANCE SHEET
AS OF AUGUST 31,2017
CURRENT ASSETS:
CASH 171,056.00
CASH IN BANK 912,350.00
PURCHASES 557,600.00
FREIGHT IN 7,000.00
ACCOUNTS RECEIVABLE 72,900.00
SUPPLIES ON HAND 6,150.00
VAT INPUT TAX 155,044.00
RENTAL DEPOSIT 40,000.00
NON-CURRENT ASSETS:
DELIVERY EQUIPMENT 250,000.00
OFFICE EQUIPMENT 65,600.00
FURNITURES & FIXTURES 45,780.00
TOTAL ASSETS:

LIABILITIES & EQUITY:

ACCOUNTS PAYABLE 858,255.00
VAT PAYABLE 10,650.00
WAGES PAYABLE 27,500.00
COMMISSION PAYABLE 28,200.00
LOANS PAYABLE 80,000.00
INCOME TAX PAYABLE 10,270.00
VAT OUTPUT TAX 244,800.00
ACCUM.DEPN. 72,360.00
TOTAL LIABILITES:

EQUITY:
DEVERA CAPITAL
TOTAL LIABILITES & EQUITY
G & MERCHANDISING CO.
ALANCE SHEET
F AUGUST 31,2017

2,283,480.00

1,332,035.00

951,445.00
2,283,480.00
 DJ TRADING & MERCHANDISING CO.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED AUGUST 31,2017
DEVERA CAPITAL 1,011,800.00
NET INCOME/LOSS (60,355.00)
DEVERA CAPITAL 951,445.00
ANDISING CO.
ES IN EQUITY
UGUST 31,2017
 DJ TRADING & MERCHANDISING CO.
INCOME STATEMENT
FOR THE YEAR ENDED AUGUST 31,2017
SALES
LESS:
COST OF SALES
GROSS MARGIN:

LESS: OPERATING EXPENSES:

FREIGHT EXPENSE 17,500.00
WAGES EXPENSE 40,000.00
RENT EXPENSE 22,400.00
INTEREST EXPENSE 1,000.00
GASOLINE EXPENSE 27,200.00
ADVERTISING EXPENSE 24,000.00
DEPRECIATION EXPENSE 36,180.00
SUPPLIES EXPENSE 10,350.00
INCOME TAX EXPENSE 10,270.00
COMMISSION EXPENSE 15,700.00
TELEPHONE EXPENSE 5,755.00
NET INCOME/LOSS
ANDISING CO.
MENT
UGUST 31,2017
1,580,000.00

1,430,000.00
150,000.00

210,355.00
(60,355.00)
ACCOUN TITLE UNADJUSTED ADJUSTMENTS
DEBIT CREDIT DEBIT
CASH 171,056.00
CASH IN BANK 912,350.00
COST OF SALES 1,430,000.00
PURCHASES 557,600.00
FREIGHT IN 7,000.00
ACCOUNTS RECEIVABLE 72,900.00
SUPPLIES ON HAND 16,500.00
VAT INPUT TAX 155,044.00
RENTAL DEPOSIT 40,000.00
DELIVERY EQUIPMENT 250,000.00 #NAME?
OFFICE EQUIPMENT 65,600.00
FURNITURES & FIXTURES 45,780.00
ACCOUNTS PAYABLE 852,500.00
VAT PAYABLE 10,650.00
WAGES PAYABLE 27,500.00
COMMISSION PAYABLE 12,500.00
LOANS PAYABLE 80,000.00
VAT OUTPUT TAX 244,800.00
ACCUM.DEPN. 36,180.00
DEVERA CAPITAL 1,011,800.00
SALES 1,580,000.00
FREIGHT EXPENSE 17,500.00
WAGES EXPENSE 40,000.00
RENT EXPENSE 22,400.00
INTEREST EXPENSE 1,000.00
GASOLINE EXPENSE 27,200.00
ADVERTISING EXPENSE 24,000.00
3,855,930.00 3,855,930.00

ADJUSTMENTS:
DEPRECIATION EXPENSE 36,180.00
SUPPLIES EXPENSE 10,350.00
INCOME TAX EXPENSE 10,270.00
INCOME TAX PAYABLE
COMMISSION EXPENSE 15,700.00
TELEPHONE EXPENSE 5,755.00
78,255.00
ADJUSTMENTS ADJUSTED INCOME STATEMENT
CREDIT DEBIT CREDIT DEBIT CREDIT
171,056.00
912,350.00
1,430,000.00 1,430,000.00
557,600.00
7,000.00
72,900.00
10,350.00 6,150.00
155,044.00
40,000.00
250,000.00
65,600.00
45,780.00
5,755.00 858,255.00
10,650.00
27,500.00
15,700.00 28,200.00
80,000.00
244,800.00
36,180.00 72,360.00
1,011,800.00
1,580,000.00 1,580,000.00
17,500.00 17,500.00
40,000.00 40,000.00
22,400.00 22,400.00
1,000.00 1,000.00
27,200.00 27,200.00
24,000.00 24,000.00

36,180.00 36,180.00
10,350.00 10,350.00
10,270.00 10,270.00
10,270.00 10,270.00
15,700.00 15,700.00
5,755.00 5,755.00
78,255.00 3,923,835.00 3,923,835.00 1,640,355.00 1,580,000.00
(60,355.00)
 BALANCE SHEET
DEBIT CREDIT
171,056.00
912,350.00

557,600.00
7,000.00
72,900.00
6,150.00
155,044.00
40,000.00
250,000.00
65,600.00
45,780.00
858,255.00
10,650.00
27,500.00
28,200.00
80,000.00
244,800.00
72,360.00
1,011,800.00

10,270.00

2,283,480.00 2,343,835.00
(60,355.00)
2,283,480.00