Lenore Loqueque Homewares

Date Particulars Debit Credit

Oct. 7 Accounts Receivable P30,000.00
Sales P30,000.00
8 Purchases 60,000.00
Accounts Payable 60,000.00
9 Transportation in 2,540.00
Cash 2,540.00
10 Purchases 90,000.00
Transportation in 6,000.00
Accounts Payable 96,000.00
13 Office Supplies 24,000.00
Accounts Payable 24,000.00
14 Accounts Receivable 24,000.00
Sales 24,000.00
14 Accounts Payable 6,000.00
Return Purchases and Allowances 6,000.00
17 Cash 30,000.00
Accounts Receivable 30,000.00
18 Accounts Payable 4,000.00
Office Supplies 4,000.00
19 Cash 18,000.00
Sales 18,000.00
20 Accounts Payable 96,000.00
Cash 96,000.00
21 Accounts Payable 54,000.00
Cash 54,000.00
24 Sales Returns and Allowances 2,000.00
Accounts Receivable 2,000.00
 Virginia Ruben Candles
Date Particulars Debit Credit
Aug. 1 Accounts Receivable P21,000.00
Sales P21,000.00
3 Purchases 38,000.00
Accounts Payable 38,000.00
5 Transportation in 290.00
Cash 290.00
6 Supplies 6,360.00
Accounts Payable 6,360.00
8 Purchases 36,000.00
Transportation in 200.00
Accounts Payable 36,200.00
12 Accounts Payable 6,000.00
Purchase Returns and Allowances 6,000.00
15 Accounts Receivable 12,000.00
Sales 12,000.00
16 Accounts Payable 2,000.00
Supplies 2,000.00
17 Cash 10,000.00
Sales 10,000.00
18 Sales Returns and Allowances 2,000.00
Accounts Receivable 2,000.00
24 Accounts Payable 38,000.00
Cash 38,000.00
25 Cash 19,000.00
Accounts Receivable 19,000.00
Date Particulars Debit Credit
Dec. 7 Accounts Receivables P30,000.00
Sales P30,000.00
8 Purchases 60,000.00
Accounts Payable 60,000.00
9 Transportation in 254.00
Cash 254.00
10 Purchases 95,400.00
Transportation in 600.00
Accounts Payable 96,000.00
13 Supplies 24,000.00
Accounts Payable 24,000.00
14 Accounts Receivables 24,000.00
Sales 24,000.00
14 Accounts Payable 6,000.00
Purchase Returns and Allowances 6,000.00
17 Cash 30,000.00
Accounts Receivables 30,000.00
18 Accounts Payable 4,000.00
Supplies 4,000.00
19 Cash 18,000.00
Sales 18,000.00
20 Accounts Payable 96,000.00
Cash 96,000.00
21 Accounts Payable 54,000.00
Cash 54,000.00
24 Sales Returns and Allowances 2,000.00
Accounts Receivables 2,000.00
 Cash Basis

Ramos Distibutors
Date Particulars Debit Credit
May 4 Accounts Receivables P162,000.00
Sales P162,000.00
5 Accounts Receivables 710,000.00
Sales 710,000.00
6

7 Sales Returns and Allowances 12,000.00

Accounts Receivables 12,000.00
9 Cash 147,000.00
Sales Discount 3,000.00
Accounts Receivables 150,000.00
10 Transportation out 2,000.00
Cash 2,000.00
12 Cash 695,800.00
Sales Discount 14,200.00
Accounts Receivables 710,000.00
18 Accounts Receivables 150,000.00
Sales 150,000.00
21

23 Cash 147,000.00
Sales Discount 3,000.00
Accounts Receivables 150,000.00

Accrual Basis

Ramos Distibutors
Date Particulars Debit Credit
May 4 Accounts Receivables P162,000.00
Transportation Out 2,000.00
Sales P162,000.00
Accounts Payable 2,000.00
5 Accounts Receivables 710,000.00
Sales 710,000.00

7 Sales Returns and Allowances 12,000.00

Accounts Receivables 12,000.00
9 Cash 147,000.00
Sales Discount 3,000.00
Accounts Receivables 150,000.00
10 Accounts Payable 2,000.00
Cash 2,000.00
12 Cash 695,800.00
Sales Discount 14,200.00
Accounts Receivables 710,000.00
18 Accounts Receivables 150,000.00
Sales 150,000.00
21

23 Cash 147,000.00
Sales Discount 3,000.00
Accounts Receivables 150,000.00
 Cash Basis

Cammayo Retailers
Date Particulars Debit Credit
May 4 Purchases P162,000.00
Accounts Payable P162,000.00
5 Purchases 710,000.00
Accounts Payable 710,000.00
6 Transportation in 8,000.00
Cash 8,000.00
7 Accounts Payable 12,000.00
Purchase Returns and Allowances 12,000.00
9 Accounts Payable 150,000.00
Purchase Discounts 3,000.00
Cash 147,000.00
10

12 Accounts Payable 710,000.00

Purchase Discount 14,000.00
Cash 695,800.00
18 Purchases 150,000.00
Accounts Payables 150,000.00
21 Transporation in 3,000.00
Cash 3,000.00
23 Accounts Payable 150,000.00
Purchase Discount 3,000.00
Cash 147,000.00

Accrual Basis

Cammayo Retailers
Date Particulars Debit Credit
May 4 Purchases P162,000.00
Accounts Payable P162,000.00

5 Purchases 710,000.00
Transportation In 8,000.00
Accounts Payable 718,000.00
6 Accounts Payable 8,000.00
Cash 8,000.00
7 Accounts Payable 12,000.00
Purchase Returns and Allowances 12,000.00
9 Accounts Payable 150,000.00
Purchase Discounts 3,000.00
Cash 147,000.00
10
12 Accounts Payable 710,000.00
Purchase Discount 14,000.00
Cash 695,800.00
18 Purchases 150,000.00
Accounts Payables 150,000.00
21 Transporation in 3,000.00
Cash 3,000.00
23 Accounts Payable 150,000.00
Purchase Discount 3,000.00
Cash 147,000.00
 Mariano Lerin Bookstore - Cash Basis

Date Particulars Debit Credit Date

Mar. 2 Purchases P74,000.00 Mar. 2
Accounts Payable P74,000.00
3 Accounts Receivables 10,000.00 3
Sales 10,000.00
5 Cash 7,000.00 5
Sales 7,000.00
6 Purchases 42,000.00 6
Accounts Payable 42,000.00
7 No entry 7

9 Accounts Receivables 38,000.00 9

Sales 38,000.00
10 Purchases 26,000.00 10
Transportation in 500.00
Accounts Payable 26,500.00
11 No entry 11

12 Accounts Payable 74,000.00 12

Purchase Discount 1,480.00
Cash 72,520.00
13 Cash 9,900.00 13
Sales Discount 100.00
Accounts Receivables 10,000.00
14 Accounts Payable 21,000.00 14
Purchase Discount 420.00
Cash 20,580.00
15 Accounts Payable 3,000.00 15
Purchase Returns and Allowances 3,000.00
16 Supplies 4,780.00 16
Accounts Payable 4,780.00
17 Cash 18,810.00 17
Sales Discount 190.00
Accounts Receivables 19,000.00
18 Accounts Payable 23,500.00 18
Purchase Discount 460.00
Cash 23,040.00
19 Accounts Receivables 7,800.00 19
Sales 7,800.00
20 Accounts Payable 1,280.00 20
Supplies 1,280.00
22 Sales Returns and Allowances 1,800.00 22
Accounts Receivables 1,800.00
25 Accounts Payable 3,500.00 25
Cash 3,500.00
26 Transportation in 861.00 26
 Cash 861.00
27 Cash 5,880.00 27
Sales Discount 120.00
Accounts Receivables 6,000.00
28 Accounts Payable 21,000.00 28
Cash 21,000.00
31 Cash 9,730.00 31
Sales 9,730.00
Mariano Lerin Bookstore - Accrual Basis

Particulars Debit Credit

Purchases P74,000.00
Accounts Payable P74,000.00
Accounts Receivables 10,000.00
Sales 10,000.00
Cash 7,000.00
Sales 7,000.00
Purchases 42,000.00
Accounts Payable 42,000.00
Transportation In 570.00
Accounts Payable 570.00
Accounts Receivables 38,000.00
Sales 38,000.00
Purchases 26,000.00
Transportation in 500.00
Accounts Payable 26,500.00
Transportation Out 291.00
Accounts Payable 291.00
Accounts Payable 74,000.00
Purchase Discount 1,480.00
Cash 72,520.00
Cash 9,900.00
Sales Discount 100.00
Accounts Receivables 10,000.00
Accounts Payable 21,000.00
Purchase Discount 420.00
Cash 20,580.00
Accounts Payable 3,000.00
Purchase Returns and Allowances 3,000.00
Supplies 4,780.00
Accounts Payable 4,780.00
Cash 18,810.00
Sales Discount 190.00
Accounts Receivables 19,000.00
Accounts Payable 23,500.00
Purchase Discount 470.00
Cash 23,030.00
Accounts Receivables 7,800.00
Sales 7,800.00
Accounts Payable 1,280.00
Supplies 1,280.00
Sales Returns and Allowances 1,800.00
Accounts Receivables 1,800.00
Accounts Payable 3,500.00
Cash 3,500.00
Accounts Payable 861.00
 Cash 861.00
Cash 5,880.00
Sales Discount 120.00
Accounts Receivables 6,000.00
Accounts Payable 21,000.00
Cash 21,000.00
Cash 9,730.00
Sales 9,730.00
 Leopoldo Valdes School Chairs
Partial Income Statement
For the Year Ended Dec. 31 2019

Cost of Sales
Merchandise Inventory, 1/1/2019 1,200,000.00
Purchases 4,300,000.00
Less: Purchases Returns and Allowances 129,000.00
Purchases Discounts 215,000.00 344,000.00
Net Purchases 3,956,000.00
Transportation In 172,000.00
Net Cost of Purchases 4,128,000.00
Goods Available for Sale 5,328,000.00
Less: Merchandising Inventory, 12/31/2019 1,900,000.00
Cost of Sales 3,428,000.00
Cost of Sales
Merchandise Inventory, 1/1/2019 300,000.00
Purchases 1,320,000.00
Less: Purchases Returns and Allowances 46,200.00
Purchase Discounts 26,400.00 72,600.00
Net Purchases 1,247,400.00
Transportation In 39,600.00
Net Cost of Purchases 1,287,000.00
Goods available for sale 1,587,000.00
Less Merchandise Inventory, 1/31/ 2019 327,000.00
Cost Of Sales 1,260,000.00
 Journal Entry

Date Particulars Debit Credit

Feb. 1 Cash 113,000.00
Accounts Receivable 113,000.00
2 Accounts Payable 64,000.00
Purchase Discount 1,920.00
Cash 62,080.00
4 Purchases 170,000.00
Accounts Payable 170,000.00
5 Accounts Receivable 270,000.00
Sales 270,000.00
7 Advertising Expense 6,000.00
Cash 6,000.00
7 Cash 250,000.00
Sales 250,000.00
8 Accounts Payable 170,000.00
Purchase Discount 5,100.00
Cash 164,900.00
9 Transportation In 4,000.00
Cash 4,000.00
10 Sales Returns and Allowances 70,000.00
Accounts Receivable 70,000.00
12 Cash 196,000.00
Sales Discount 4,000.00
Accounts Receivable 200,000.00
14 Interest Expense 26,000.00
Cash 26,000.00
15 Salaries Expense 51,000.00
Cash 51,000.00
16 Accounts Receivable 392,000.00
Sales 392,000.00
18 Transportation out 4,000.00
Cash 4,000.00
19 Supplies 21,000.00
Cash 21,000.00
20 Purchases 125,000.00
Accounts Payable 125,000.00
22 Miscellaneous Expense 7,000.00
Cash 7,000.00
23 Cash 384,160.00
Sales Discount 7,840.00
Accounts Receivable 392,000.00
24 Purchases 373,000.00
Accounts Payable 373,000.00
24 Transportation In 9,000.00
Cash 9,000.00
25 Accounts Receivable 420,000.00
 Sales 420,000.00
26 Sales Returns and Allowances 71,000.00
Accounts Receivable 71,000.00
28 Buenaflor, Withdrawals 400,000.00
Cash 400,000.00
28 Accounts Payable 25,000.00
Purchase Returns and Allowances 25,000.00
 GENERAL LEDGER

Cash - 110 Accumulated Depreciation - Equipment - 185

Feb. 1 33,000.00 2 62,080.00 Feb. 1
1 113,000.00 7 6,000.00
7 250,000.00 8 164,900.00
12 196,000.00 9 4,000.00 Accounts Payable
23 384,160.00 14 26,000.00 Feb. 2 64,000.00 1
15 51,000.00 8 170,000.00 4
18 4,000.00 28 25,000.00 20
19 21,000.00 24
22 7,000.00 259,000.00
24 9,000.00
28 400,000.00
976,160.00 754,980.00 Mortgage Payable - 230
221,180.00 Feb. 1

Accounts Receivable - 120

Feb. 1 192,000.00 1 113,000.00 Buenaflor, Capital - 310
5 270,000.00 10 70,000.00 Feb. 1
16 392,000.00 12 200,000.00
25 420,000.00 23 392,000.00
26 71,000.00 Buenaflor, Withdrawals - 320
1,274,000.00 846,000.00 Feb. 28 400,000.00
428,000.00 400,000.00

Merchandise Inventory - 130 Sales - 410

Feb. 1 413,000.00 Feb. 5
413,000.00 7
16
Supplies - 140 25
Feb. 1 51,000.00
19 21,000.00
72,000.00 Sales Returns and Allowances - 420
Feb. 10 70,000.00
Prepaid Insurance - 150 26 71,000.00
Feb. 1 48,000.00 141,000.00
48,000.00
Sales Discount - 430
Land - 160 Feb. 12 4,000.00
Feb. 1 460,000.00 23 7,840.00
460,000.00 11,840.00

Building - 170 Purchases - 510

Feb. 1 1,750,000.00 Feb. 4 170,000.00
1,750,000.00 20 125,000.00
24 373,000.00
Accumulated Depreciation - Building - 175 668,000.00
 Feb. 1 350,000.00
350,000.00 Purchase Returns and Allowances - 520
Feb. 28
Equipment - 180
Feb. 1 2,310,000.00
2,310,000.00
L LEDGER

ation - Equipment - 185 Purchase Discounts - 530

630,000.00 Feb. 2 1,920.00
630,000.00 8 5,100.00
7,020.00
s Payable
108,000.00 Transportation In - 540
170,000.00 Feb. 9 4,000.00
125,000.00 24 9,000.00
373,000.00 13,000.00
776,000.00
517,000.00 Salaries Expense - 610
Feb. 15 51,000.00
Payable - 230 51,000.00
2,600,000.00
2,600,000.00 Transportation Out - 660
Feb. 18 4,000.00
Capital - 310 4,000.00
1,569,000.00
1,569,000.00 Advertising Expense -670
Feb. 7 6,000.00
thdrawals - 320 6,000.00

Interest Expense - 680

14 26,000.00
s - 410 26,000.00
270,000.00
250,000.00 Miscellaneous Expense - 690
392,000.00 Feb. 22 7,000.00
420,000.00 7,000.00
1,332,000.00

d Allowances - 420

a.
ount - 430
b.

c.

ses - 510

d.
nd Allowances - 520
25,000.00
25,000.00
 Unadjusted Trial Balance Adjustments
Debit Credit Debit
Cash 221,180.00
Accounts Receivable 428,000.00
Merchandise Inventory 413,000.00
Supplies 72,000.00
Prepaid Insurance 48,000.00 (b)
Land 460,000.00
Building 1,750,000.00
Accumulated Depreciation - Building 350,000.00 (c )
Equipment 2,310,000.00
Accumulated Depreciation - Equipment 630,000.00 (c )
Accounts Payable 517,000.00
Salaries Payable (a)
Mortgage Payable 2,600,000.00
Buenaflor, Capital 1,569,000.00
Buenaflor, Withdrawals 400,000.00
Income Summary
Sales 1,332,000.00
Sales Returns and Allowances 141,000.00
Sales Discounts 11,840.00
Purchases 668,000.00
Purchases Returns and Allowances 25,000.00
Purchase Discount 7,020.00
Transportation In 13,000.00
Salaries Expense 51,000.00 (a) 51,000.00
Supplies Expense (d) 58,000.00
Insurance Expense (b) 2,000.00
Depreciation Expense - Building (c ) 9,000.00
Depreciation Expense - Equipment (c ) 12,000.00
Transportation Out 4,000.00
Advertising Expense 6,000.00
Interest Expense 26,000.00
Miscellaneous Expense 7,000.00
7,030,020.00 7,030,020.00 132,000.00

Particulars Dr Cr
Salaries Expense 51,000.00
Salaries Payable 51,000.00
Insurance Expense 2,000.00
Prepaid Insurance 2,000.00
Depreciation Expense - Building 9,000.00
Depreciation Expense - Equipment 12,000.00
Accumulated Depreciation - Building 9,000.00
Accumulated Depreciation - Equipment 12,000.00
Supplies Expense 58,000.00
Supplies 58,000.00
Adjustments Adjusted Trial Balance
Credit Debit Credit
221,180.00
428,000.00
413,000.00
58,000.00 14,000.00
2,000.00 46,000.00
460,000.00
1,750,000.00
9,000.00 359,000.00
2,310,000.00
12,000.00 642,000.00
517,000.00
51,000.00 51,000.00
2,600,000.00
1,569,000.00
400,000.00
-
1,332,000.00
141,000.00
11,840.00
668,000.00
25,000.00
7,020.00
13,000.00
102,000.00
58,000.00
2,000.00
9,000.00
12,000.00
4,000.00
6,000.00
26,000.00
7,000.00
132,000.00 7,102,020.00 7,102,020.00