Cash Receipt Journal Page 35

Sales Journal Page 16

Date O.R. Description Debit Credit

No. Cash Sales Discount Accounts Sales Other Accounts
Date Invoice No. Purchase JournalDebited
Accounts Post Ref. Accounts ReceivablePage 25 Cr.
Dr./ Sales
Receivable Account Title PR Amount
2018                  
Jan 4Date  R.R. No.
R. Loyola ₱ Accounts Credited
205,800.00 ₱ 4,200.00 ₱ PR210,000.00   Credit     Debit
 
2018
  5   Sold Merchandise ₱ 430,000.00     ₱Accounts Payable
430,000.00     Purchases
 
Jan 2 316 B. Bandonell ₱ 240,000.00
  102018  B. Bandonell ₱ 235,200.00 ₱ 4,800.00 ₱ 240,000.00        
8 317 G. Sevidal ₱ 310,000.00
  Jan22   3 M. Cerda ₱ 127,400.00
T. Arenas Company₱ 2,600.00 ₱ /130,000.00  ₱ 90,000.00     ₱ 90,000.00
 
13 318 M. Cerda ₱ 130,000.00
  25   11 G. Sevidal ₱ 280,000.00  
L. Viray Company ₱ /280,000.00  ₱ 120,000.00     ₱ 120,000.00
 
18 319 R. Loyola ₱ 460,000.00
  27   First Marayta Bank ₱ 170,000.00       Notes Payable 210 ₱ 170,000.00
17
23 320 E. Samoonte Company B. Bandonell / ₱ 190,000.00 ₱ ₱110,000.00
190,000.00
  30   Sold Merchandise ₱ 1,310,000.00 _____________ _____________ ₱ 1,310,000.00      
25
29 321 A. Braganza CompanyM. Cerda / ₱ 340,000.00 ₱ ₱170,000.00
340,000.00
        ₱ 2,758,400.00 ₱ 11,600.00 ₱ 860,000.00 ₱ 1,740,000.00      
28 L. Viray Company / ₱ 270,000.00 ₱ ₱ 270,000.00
1,420,000.00
30 T. Arenas Company / ₱ 360,000.00 ₱ 360,000.00
₱ 1,370,000.00 ₱ 1,370,000.00
 Cash Disbursement Journal Page 43
Ricardo Pangan Company
Ricardo Pangan Company
Date Ck. Description Changes of Owner’s EquityCredit Income
Ricardo Pangan Statement
Company Debit
No. For the Year Ended Cash ForWorksheet
the
Dec. 31,2018 Purchase Discount Year Ended Dec. Payable
Accounts 31,2018 Purchases Other Accounts
Net Sales General Journal For the Month Ended January 31, 2018 PageAmount
13
Account Title PR
2018     Pangan, Owner's
Gross Sales Equity, 1/1/2018 ₱ 1,650,000 ₱   3,160,000  
Unadjusted Trial Balance   Adjustments   Adjusted  Trial balance   Income Statement   Balance Sheet
Jan 7 Account
Date
83 Title
E. SamonteLess: Sales
Compny Returns and ₱ Account
Allowances Titles
126,100.00 ₱ 3,900.00 ₱ Post Reference
130,000.00   ₱ Debit
30,000     Credit  
Add: Profit Debit Credit Debit Credit ₱ Debit
1,064,700 Credit Debit Credit Debit Credit
  11 2018
84 T. Arenas Company Sales Discount ₱  
77,600.00 ₱ 2,400.00 ₱ 2,384,7  
80,000.00    11,600      
41,600  
2,384,7 2,384,7
Cash Jan 9 Total Net
Accounts
Sales Payable
00 ₱ 00   220
2,714,700 ₱   10,000.00    
00  3,118,400
  12 85 Purchased merchandise ₱   70,000.00         ₱ 70,000.00    
    Purchase Returns
740,0 and Allowances 740,0 520   ₱ 740,010,000.00
  14 86 Interest on the Notes Payable ₱ 10,000.00   100,000       Interest 650 ₱ 10,000.00
Accounts  Receivable   Less: WithdrawalsReturned 00 merchandise   from T. Arenas.   
₱
00         00    
Expense
      730,0 730,0   730,0  470,0 470,0  
  15 87 Sales
PaidPangan,
salariesOwner's Equity, 1/31/2018₱ 80,000.00   ₱ 2,614,700   420   Salaried 610 ₱ 80,000.00
  Cost of
Merchandise 24
Inventory Sales Returns00and Allowances       00   ₱ 00 30,000.0000 00    
Merchandise Expense
    AccountsInventory,
Receivable
90,0
1/1/18
60,0 120 ₱ 730,000
  ₱ 60,030,000.00
  19 88 Pangan withdram from the ₱ 100,000.00       Pangan, 320 ₱ 100,000.00
Prepaid   Rent   PurchasesReceived00 returned merchandise   from G.  Sevidal. a. 30000 ₱ 001,440,000           00    
business Withdrawals
           
  21 89 AcquiredLess:
officePurchase
suppliesRets.
200,0& Allow. ₱ 40,000.00₱ 10,000   70,0
    Office Supplies 150 70,0 ₱ 40,000.00
Office
  Supplies
22 90 Freight chargesPurchase 00 Discounts ₱   20,000.00   6,300b.  130000 00 16,300
         
Freight In 00
540 ₱  
20,000.00
NetCompny
Purchases 1,000,0 1,000,0
₱ ₱ 1,423,700 1,000,0
  26 91 E. Samonte ₱ 90,000.00 _____________ 90,000.00 _____________      
Office Equipment 00       00       00  
Transportation In 20,000
        ₱ 613,700.00 ₱ 6,300.00 ₱ 300,000.00 260,0 ₱ 70,000.00       260,0
Accumulated Depreciation Net Cost of Purchases
  250,000     c. 10000 Ricardo Pangan
  Comppany 00 1,443,700  
                   00
 
Goods Available for Sale Balance Sheeet 570,0 2,173,700 570,0
Notes Payable Less: Merchandise   Inventory,570,000
1/31/18     Dec. 31,2018
  00   470,000     00
Cost of Sales 1,190,0 1,703,700 1,190,0
AccountsGross Payable   Assets
1,190,000       00      
Profit ₱ 1,414,700 00
Current Assets 90,0 90,0
Operating Expenses
CashPayable
Salaries     d. 90000 ₱   2,384,700 00       00
Accounts Receivable Salaries Ricardo
ExpensePangan Company ₱ ₱ 170,000 740,000 1,650,0
Ricardo Pangan Company
1,650,0
Pangan, Capital Inventory RentSchedule
Merchandise Expense  of Accounts Receivable
1,650,000     ₱  30,000 470,000 00 Schedule
  of Accounts
  Payable   00
Prepaid Rent Office Supplies January
Expense
100,0 31, 2018 ₱ 100,0
130,00060,000 January 31, 2018 100,0
Office
Pangan, Supplies
Withdrawals 00
Depreciation Expense     ₱00 70,000
10,000       00  
Income SummaryTotal Current Assets
Interest Expense         100,000       ₱ 3,724,700
   
Non-Current AssetsR. Loyola ₱ 460,000.00 E. Samonte Company
3,160,0 3,160,0 ₱ 100,000.00
Total Operating Expense ₱ 350,000
SalesOffice Equipment B. Bandonell   ₱ ₱3,160,000
1,000,000
110,000.00       T. Arenas Company
00   00 ₱    
360,000.00
Less:Profit
Accumulated M. Depreciation
Cerda 30,0
₱ ₱
170,000.00260,000 30,0 Company
L. Viray 30,0 ₱ ₱ 740,000
₱ 1,064,700
390,000.00
Sales
TotalReturns
Assets and Allowances 00     00A. Braganza   00   ₱  
4,464,700
₱  
340,000.00
11,6 Liabilities 11,6 11,6
₱ 740,000.00
SalesNotes
Discount
Payable 00     ₱00 570,000   00      
1,440,0 1,440,0 1,440,0 ₱ 1,190,000.00
Accounts Payable ₱ 1,190,000
Purchases
Salaries Payable 00     ₱00 90,000   00      
Purchase Returns and 10,0 10,0
Allowances   10,000       00   00    
6,3 6,3
Purchase Discounts   6,300       00   00    
20,0 20,0 20,0
Transportation In 00     00   00      
Closing Entries

Date Total Liabilities Account Titles and Explanation PR Debit Credit

₱ 1,850,000
Owner's Equity
2018 Pangan, Capital ₱ 2,164,700
Total Liabilities and Owner's Equity ₱ 4,464,70
Dec. 31 Merchandise Inventory, End 470,000

Sales 3,160,000

Purchases Returns & Allowances 10,000

Purchases Discounts 6,300

Income Summary 3,646,300

Ricardo Pangan Company
Post- Closing Trial Balance
To temporary accounts with credit
Dec. 31, 2018

balances and to establish the ending

Cash ₱ 2,384,700
Accounts Receivable merchandise inventory. 740,000
Merchandise Inventory 470,000
Dec. 31 Prepaid
Income Rent
Summary 60,000 2,581,600
Office Supplies 70,000
Merchandise Inventory, Beg.
Office Equipment 1,000,000 730,000
Accumulated Depreciation ₱ 260,000
Sales Returns & Allowances
Notes Payable 30,000
570,000.00
Accounts Payable 1,190,000.00
Sales Discount
Salaries Payable 11,60090,000.00

Pangan, Capital   2,614,700.00

Purchases 1,440,000
₱ 4,724,700 ₱ 4,724,700
Transportation In 20,000

Salaries Expense 170,000

Rent Expense 30,000

Office Supplies Expense 130,000