SALES JOURNAL

Date Dr. Accounts Receivable/

Accounts Debited Invoice No. Ref.
Cr. Sales
2-Jan B. Bandonell 316 / 240,000.00
8-Jan G. Sevidal 317 / 310,000.00
13-Jan M. Cerda 318 / 130,000.00
18-Jan R. Loyola Company 319 / 460,000.00
23-Jan B. Bandonell 320 / 110,000.00
29-Jan M. Cerda 321 / 170,000.00

1,420,000.00
(120)/(410)
HOME
 CASH R

DEBITS

DATE DESCRIPTION O.R. NO. CASH

4-Jan Cash from R. Layola 205800
5-Jan Cash Sales 430000
10-Jan Cash fron B. Bandonell 235200
22-Jan Cash from M. Cerda 127400
25-Jan Cash from G. Sevidal 280000
27-Jan Cash Loan 170000
30-Jan Cash Sale 1310000
2758400
/110
 CASH RECEIPT JOURNALS

DEBITS CREDITED
ACCOUNTS
SALES DISCOUNT RECIEVABLE SALES
4200 210000
430000
4800 240000
2600 130000
280000

1310000
11600 860000 1740000
/430 120 410
CREDITED
HOME
OTHER-ACCOUNTS
Account Title P.R Amount

Notes Payable 210 170000

OME
 PURCHASES JOURNALS
Credits
R.R. Accounts
DATE No. Account Credited P.R Payable
3-Jan 316 T. Arenas Company / 90000
11-Jan L. Viray Company / 120000
17-Jan E. Samonte Company / 190000
25-Jan A. Braganza Company / 340000
28-Jan L. Viray Company / 270000
30-Jan T. Arenas Company / 360000
1370000
220
HASES JOURNALS HOME
Debits
Purchases Office OTHER-ACCOUNTS
Supply Account Title P.R Amount
90000
120000
190000
340000
270000
360000
1370000
510
 CASH DISBURSEMENT J

Credits
CK.
DATE No. Description CASH
7-Jan 83 Paid E. Samonte Company 126100
11-Jan 84 Paid T. Arenas Company 77600
12-Jan 85 Purchased merchandise 70000
14-Jan 86 Paid Interest 10000
15-Jan 87 Paid Salaries 80000
19-Jan 88 Pangan, Withdrawal 100000
21-Jan 89 Bought Office Supply 40000
22-Jan 90 Paid Frieght In 20000
26-Jan 91 Paid E- Samonte 90000

613700
110
CASH DISBURSEMENT JOURNALS

Credits Debits
Accounts OTHER-ACCOUNTS
Purchases Discount Payable Purchases Account Title P.R
3900 130000
2400 80000
70000
Interest expense 650
Salaries Expense 610
Pangan, Widrawal 310
Office Supply 150
Freight In 540
90000

6300 300000 70000

530 220 510
 HOME

R-ACCOUNTS
Amount

10000
80000
100000
40000
20000

250000
 Accounts Payable - E. SAMONTE COMPANY Customer ID Number
Date REF Debit Credit
28-Dec PTB ₱ 130,000.00
7-Jan CD 130000
17-Jan P 190000
26-Jan CD 90000

Accounts Payable - L. VIRAY Customer ID Number

Date REF Debit Credit
11-Jan P ₱ 120,000.00
28-Jan P 270000

Accounts Payable - T. ARENAS COMPANY Customer ID Number

Date REF Debit Credit
3-Jan P ₱ 90,000.00
9-Jan GJ 10000
11-Jan CD 80000
30-Jan P 360000

Accounts Payable - A. BRAGANZA Customer ID Number

Date REF Debit Credit
25-Jan PJ ₱ 340,000.00
 2000-00001
HOME
Balance
₱ 130,000.00
0
190000
₱ 100,000.00
₱ 100,000.00

2000-00002
Balance
₱ 120,000.00
₱ 390,000.00

₱ 390,000.00

2000-00003
Balance
₱ 90,000.00
80000
0
₱ 360,000.00
₱ 360,000.00

2000-00004
Balance
₱ 340,000.00

₱ 340,000.00
 Accounts Receivable - B. BANDONELL Customer ID Number
Date REF Debit Credit
2-Jan S ₱ 240,000.00
10-Jan CR 240000
23-Jan S 110000

Accounts Receivable - R. LAYOLA Customer ID Number

Date REF Debit Credit
28-Dec S ₱ 210,000.00
4-Jan CR 210000
18-Jan S 460000

Accounts Receivable - G. SEVIDAL Customer ID Number

Date REF Debit Credit
8-Jan S ₱ 310,000.00
24-Jan GJ 30000
25-Jan CR 280000

Accounts Receivable - M. CERDA Customer ID Number

Date REF Debit Credit
13-Jan S ₱ 130,000.00
22-Jan CR 130000
29-Jan S 170000
 1200-00001
HOME
Balance
₱ 240,000.00
0
110000

110000

1200-00002
Balance
₱ 210,000.00
0
460000

460000

1200-00003
Balance
₱ 310,000.00
₱ 280,000.00
0

1200-00004
Balance
₱ 130,000.00
0
170000

170000
 Ricardo Pangan Company
Scedule of Accounts Receivable
31-Jan-22
B. Bandonell Company ₱110,000.00
R. Loyola Company ₱460,000.00
M. Cerda ₱170,000.00
TOTAL ₱740,000.00

Ricardo Pangan Company

Scedule of Accounts Payable
31-Jan-22
E. Samonte Company ₱100,000.00
L. Viray Company ₱390,000.00
A. Braganza ₱340,000.00
T. Arenas Company ₱360,000.00
TOTAL ₱1,190,000.00
 R

Date
9-Jan

24-Jan
 RICARDO PANGAN
GENERAL JOU
Particulars
Accounts Payable - T. Arenas Company
Purchases Return & Allowances
Returned goods

Sales Return & Allowances

Accounts Receivable - G. Sevidal
Received Returned Goods.

T ACCOUNTS HERE ======>

 HOME

Ref Debit Credit

120 ₱ 10,000.00
410 10,000.00

210 30,000.00
530 30,000.00
110

RED COLOR MEANS

ADJUSTED ACCOUNTS
 Cash Accounts Recievable
DEBIT CREDIT DEBIT CREDIT
240,000.00 210,000.00
2,758,400.00 1,420,000.00
613,700.00 860,000.00
30,000.00

2,998,400.00 613,700.00 1,630,000.00 890,000.00

2,384,700.00 740,000.00

Prepaid Rent Office Supplies

DEBIT CREDIT DEBIT CREDIT
90,000.00 30000 160,000.00
40,000.00
130,000.00

90,000.00 30,000.00 200,000.00 130,000.00

60,000.00 70,000.00

Accumulated Depr. Office Equip. Notes Payable

DEBIT CREDIT DEBIT CREDIT
250000 400000
10,000.00 170,000.00
 260,000.00 570,000.00
260,000.00 570,000.00

Salaries Payable Pangan, Capital

DEBIT CREDIT DEBIT CREDIT
90000 1650000

90,000.00 - 1,650,000.00
90,000.00 1,650,000.00

Sales Sales Return & Allowances

DEBIT CREDIT DEBIT CREDIT
1420000 30,000.00
1,740,000.00

- 3,160,000.00 30,000.00 -
3,160,000.00 30,000.00

Purchases Purchases Return & Allowances

DEBIT CREDIT DEBIT CREDIT
70,000.00 10000
1,370,000.00
 1,440,000.00 - - 10,000.00
1,440,000.00 10,000.00

Frieght In Salaries Expense

DEBIT CREDIT DEBIT CREDIT
20,000.00 80,000.00
90,000.00

20,000.00 - 170,000.00 -
20,000.00 170,000.00

Depreciation Expense Interest Expense

DEBIT CREDIT DEBIT CREDIT
10,000.00 10,000.00

10,000.00 - 10,000.00 -
10,000.00 10,000.00
 Merchandise Inventory
DEBIT CREDIT
730,000.00

730,000.00
730,000.00

Office Equipment
DEBIT CREDIT
1,000,000.00

1,000,000.00
1,000,000.00

Accounts Payable
DEBIT CREDIT
130000
300,000.00
10,000.00 1,370,000.00
 310,000.00 1,500,000.00
1,190,000.00

Pangan, Widrawals
DEBIT CREDIT
100,000.00

100,000.00
100,000.00

Sales Discount
DEBIT CREDIT
11,600.00

11,600.00 -
11,600.00

Purchases Discount
DEBIT CREDIT
6300
 - 6,300.00
6,300.00

Rent Expense
DEBIT CREDIT
30,000.00

30,000.00
30,000.00

Office Supply Expense

DEBIT CREDIT
130,000.00

130,000.00
 TERESITA BUENAFLOR SHO

ADJUSTED TRIAL BALANC

For the month of Febuary

Account Titles
CASH
ACCOUNTS RECIEVABLE-CONTROL ACCOUNT
MERCHANDISING INVENTORY
PREPAID RENT
OFFICE SUPPLY
OFFICE EQUIPMENT
ACCUMULATED DEPRECIATION
ACCOUNTS PAYABLE
SALARIES PAYABLE
NOTES PAYABLE
PANGAN, CAPITAL
PANGAN, WIDRAWAL
SALES
SALES RETURN AND ALLOWANCES
SALES DISCOUNT
PURCHASES
PURCHASES RETURN AND ALLOWANCES
PURCHASES DISCOUNT
FREIGHT IN
SALARIES EXPENSE
RENT EXPENSE
OFFICE SUPPLY EXPENSE
DEPRECIATION EXPENSE
INTEREST EXPENSE

TOTAL
 HOME

Trial Balance
Debit Credit
2,384,700.00
740,000.00
730,000.00
90,000.00
200,000.00
1,000,000.00
250,000.00
1,190,000.00

570,000.00
1,650,000.00
100,000.00
3,160,000.00
30,000.00
11,600.00
1,440,000.00
10,000.00
6,300.00
20,000.00
80,000.00

10,000.00

6,836,300.00 6,836,300.00
 THE JUAN

ADJUSTED TRIA

For the year ended

Account Titles
CASH
ACCOUNTS RECIEVABLE-CONTROL ACCOUNT
MERCHANDISING INVENTORY
PREPAID RENT
OFFICE SUPPLY
OFFICE EQUIPMENT
ACCUMULATED DEPRECIATION
ACCOUNTS PAYABLE
SALARIES PAYABLE
NOTES PAYABLE
PANGAN, CAPITAL
PANGAN, WIDRAWAL
SALES
SALES RETURN AND ALLOWANCES
SALES DISCOUNT
PURCHASES
PURCHASES RETURN AND ALLOWANCES
PURCHASES DISCOUNT
FREIGHT IN
SALARIES EXPENSE
RENT EXPENSE
OFFICE SUPPLY EXPENSE
DEPRECIATION EXPENSE
INTEREST EXPENSE

TOTAL
 THE JUAN CO.

ADJUSTED TRIAL BALANCE

For the year ended July 31, 201A

Adjustments Adjusted Trial Balance
Debit Credit Debit
₱ 2,384,700.00
₱ 740,000.00
₱ 730,000.00
₱ 30,000.00 ₱ 60,000.00
₱ 130,000.00 ₱ 70,000.00
₱ 1,000,000.00
₱ 10,000.00

₱ 90,000.00

₱ 100,000.00

₱ 30,000.00
₱ 11,600.00
₱ 1,440,000.00

₱ 20,000.00
₱ 90,000.00 ₱ 170,000.00
₱ 30,000.00 ₱ 30,000.00
₱ 130,000.00 ₱ 130,000.00
₱ 10,000.00 ₱ 10,000.00
₱ 10,000.00

₱ 260,000.00 ₱ 260,000.00 ₱ 6,936,300.00

 HOME

Adjusted Trial Balance

Credit

₱ 260,000.00
₱ 1,190,000.00
₱ 90,000.00
₱ 570,000.00
₱ 1,650,000.00

₱ 3,160,000.00

₱ 10,000.00
₱ 6,300.00

₱ 6,936,300.00
 R

Date
2/31/2022
 RICARDO PANGAN
ADJUSTING EN
Particulars
Rent Expense
Prepaid Rent
To record Accrued rent on January

Office Supplies Expense

Office Supplies
To record used Supplies for the month of january

Depreciation Expense - Office Equipment

Accumulated Depreciation- Office Equipment
Depreciation for Office Equipment

Salaries Expense
Salaries Payable
Accrured Salaries
 HOME

Ref Debit Credit

120 ₱ 30,000.00
410 30,000.00

210 130,000.00
530 130,000.00

510 10,000.00
210 10,000.00

510 90,000.00
210 90,000.00
 RICARDO PANGAN COMPANY.
Statement of Changes in Owner's Equity HOME

PANGAN, CAPITAL ₱ 1,650,000.00

Add: Net Income for the period ₱ 1,064,700.00
Additional Capital 0
₱ 2,714,700.00

Less: Drawings 100000 ₱ 2,714,700.00

BUENAFLOR, CAPITAL, 02/28/22 ₱ 2,614,700.00
 RICARDO PANGAN COMPANY
STATEMENT OF FINANTIAL POSITION
FEBUARY, 28, 2022
ASSETS
Current Assets
CASH ₱ 2,384,700.00
ACCOUNTS RECIEVABLE-CONTROL ACCOUNT 740000
MERCHANDISING INVENTORY 470000
PREPAID RENT 60000
OFFICE SUPPLY 70000

Non-Current Assets

Office Equipment 1000000

Less: Accumulated Depreciation - Office Equipment (260,000.00)
740,000.00
TOTAL ASSETS
LIABILITIES AND OWNER'S EQUITY
Current Liabilities
ACCOUNTS PAYABLE ₱ 1,190,000.00
SALARIES PAYABLE 90000
NOTES PAYABLE 570000

₱ 1,850,000.00
TOTAL LIABILITIES

Owner's Equity
BUENAFLOR, CAPITAL ₱ 1,650,000.00
BUENAFLOR, WIDRAWALS 100000
TOTAL LIABILITIES AND OWNER'S EQUITY
NET INCOME
 HOME

₱ 3,724,700.00

₱ 740,000.00

₱ 4,464,700.00

₱ 1,850,000.00

₱ 1,850,000.00

₱ 1,550,000.00

₱ 3,400,000.00
₱ 1,064,700.00
₱ 4,464,700.00
 Account Titles
CASH
ACCOUNTS RECIEVABLE-CONTROL ACCOUNT
MERCHANDISING INVENTORY
PREPAID RENT
OFFICE SUPPLY
OFFICE EQUIPMENT
ACCUMULATED DEPRECIATION
ACCOUNTS PAYABLE
SALARIES PAYABLE
NOTES PAYABLE
PANGAN, CAPITAL
PANGAN, WIDRAWAL
SALES
SALES RETURN AND ALLOWANCES
SALES DISCOUNT
PURCHASES
PURCHASES RETURN AND ALLOWANCES
PURCHASES DISCOUNT
FREIGHT IN
SALARIES EXPENSE
RENT EXPENSE
OFFICE SUPPLY EXPENSE
DEPRECIATION EXPENSE
INTEREST EXPENSE

TOTAL
 TERESITA BUENAFLO

WORKSHEET
For the month ended
Trial Balance Adjustments
Debit Credit Debit
₱ 2,384,700.00
₱ 740,000.00
₱ 730,000.00
₱ 90,000.00
₱ 200,000.00
₱ 1,000,000.00
₱ 250,000.00
₱ 1,190,000.00

₱ 570,000.00
₱ 1,650,000.00
100000
₱ 3,160,000.00
₱ 30,000.00
₱ 11,600.00
₱ 1,440,000.00
₱ 10,000.00
₱ 6,300.00
₱ 20,000.00
₱ 80,000.00 ₱ 90,000.00
₱ 30,000.00
₱ 130,000.00
₱ 10,000.00
₱ 10,000.00

₱ 6,836,300.00 ₱ 6,836,300.00 ₱ 260,000.00

 TERESITA BUENAFLOR SHOES

WORKSHEET
For the month ended febuary
Adjustments Adjusted Trial Balance
Credit Debit Credit
₱ 2,384,700.00
₱ 740,000.00
₱ 730,000.00
₱ 30,000.00 ₱ 60,000.00
₱ 130,000.00 ₱ 70,000.00
₱ 1,000,000.00
₱ 10,000.00 ₱ 260,000.00
₱ 1,190,000.00
₱ 90,000.00 ₱ 90,000.00
₱ 570,000.00
₱ 1,650,000.00
₱ 100,000.00
₱ 3,160,000.00
₱ 30,000.00
₱ 11,600.00
₱ 1,440,000.00
₱ 10,000.00
₱ 6,300.00
₱ 20,000.00
₱ 170,000.00
₱ 30,000.00
₱ 130,000.00
₱ 10,000.00
₱ 10,000.00

₱ -
₱ 260,000.00 ₱ 6,936,300.00 ₱ 6,936,300.00
NET INCOME
 Income Statement Balance Sheet
Debit Credit Debit
2,384,700.00
740,000.00
730,000.00 470,000.00 470,000.00
60,000.00
70,000.00
1,000,000.00

100,000.00
3,160,000.00
30,000.00
11,600.00
1,440,000.00
10,000.00
6,300.00
20,000.00
170,000.00
30,000.00
130,000.00
10,000.00
10,000.00

₱ -
₱ 2,581,600.00 ₱ 3,646,300.00 ₱ 4,824,700.00
₱ 1,064,700.00
₱ 3,646,300.00 ₱ 3,646,300.00 ₱ 4,824,700.00
 HOME

Balance Sheet
Credit

260,000.00
1,190,000.00
90,000.00
570,000.00
1,650,000.00

₱ 3,760,000.00
₱ 1,064,700.00
₱ 4,824,700.00
 RICARDO PANGAN COMPANY
INCOME STATEMENT
FOR THE MONTH ENDED, January

NET SALES
Gross Sale
Less: Sales Return & Allowances
Sales Discounts
Net Sales

COST OF SALES
Merchandise Inventory, 02/1/22
Purchases
Less: Purchases Return & Allowances (10000.00)
Purchases Discounts (6300.00)
NET PURCHASES
Transportation In
Net cost of purchases
Goods Available For Sale
Less: Merchandise Inventory, 02/28/22
Cost of Sales
GROSS PROFIT

OPERATING EXPENSES
Selling Expenses
Salaries Expense
Rent Expense
Total selling Expenses
Adminisrative Expenses
OFFICE SUPPLY EXPENSE
DEPRECIATION EXPENSE
Total Operating Expenses
Operating Profit
FINANCE COST
NET PROFIT
MPANY
NT HOME
January

₱ 3,160,000.00
(30000.00)
(11600.00) (41600.00)
₱ 3,118,400.00

₱ 730,000.00
1,440,000.00

(16300.00)
1,423,700.00
20,000.00
1,443,700.00
₱ 2,173,700.00
(470000.00)
1,703,700.00
₱ 1,414,700.00

₱ 170,000.00
₱ 30,000.00
200,000.00

130,000.00
10,000.00
140,000.00 (340000.00)
₱ 1,074,700.00
-₱ 10,000.00
₱ 1,064,700.00
 RICARDO PANGAN COMPANY
CLOSING ENTRIES
Date Particulars Ref
28-Feb Merchandise Inventory, End
Sales
Purchases Returns & Allowances
Purchases Discounts
Income Summary

Income Summary
Merchandise Inventory Beg.
Sales Return & A llowances
Sales Discounts
Purchases
Transportation In
SALARIES EXPENSE
RENT EXPENSE
OFFICE SUPPLY EXPENSE
DEPRECIATION EXPENSE
INTEREST EXPENSE

Income Summary
Buenaflor, Capital

Buenaflor, Capital
Buenaflor, Widrawals
RICARDO PANGAN COMPANY
HOM
CLOSING ENTRIES
Debit Credit
470,000.00
3,160,000.00
10,000.00
6,300.00
3,646,300.00

2,581,600.00
730,000.00
30,000.00
11,600.00
1,440,000.00
20,000.00
170,000.00
30,000.00
130,000.00
10,000.00
10,000.00

1,064,700.00
1,064,700.00

100000
100000
HOME

INCOME SUMMARY
3,646,300.00
2,581,600.00

2,581,600.00 3,646,300.00
1,064,700.00 1,064,700.00
0

Merchandise Inventory
730,000.00 730,000.00
470,000.00

470,000.00 0

PURCHASES RETURNS & ALLOWANCES

10,000.00 10,000.00

SALES DISCOUNT
11,600.00 11,600.00

SALARIES EXPENSE
170,000.00 170,000.00

DEPRECIATION EXPENSE- OFFICE EQUIPMENT

10000 10000
0
 BUENAFLOR, CAPITAL SALES
1650000 3,160,000.00
1,064,700.00
100000

100000 2,714,700.00
2,614,700.00

PURCHASES DISCOUNTS SALES RETURN & ALLOWANC

6,300.00 6,300.00 30,000.00

PURCHASES TRANSPORTATION IN
1,440,000.00 1,440,000.00 20000

SUPPLIES EXPENSE INTEREST EXPENSE

130000 130000 10,000.00

WIDRAWAL. PANGAN
100000 100000
0
 SALES
3,160,000.00

ES RETURN & ALLOWANCES

30,000.00

TRANSPORTATION IN
20000

INTEREST EXPENSE
10,000.00

0
 RICARDO PANGAN COMPANY
POST-CLOSING TRIAL BALANCE
For the year month ended JANUARY 31

Account Titles
CASH
ACCOUNTS RECIEVABLE-CONTROL ACCOUNT
MERCHANDISING INVENTORY
PREPAID RENT
OFFICE SUPPLY
OFFICE EQUIPMENT
ACCUMULATED DEPRECIATION
ACCOUNTS PAYABLE
SALARIES PAYABLE
NOTES PAYABLE
PANGAN, CAPITAL

TOTAL
GAN COMPANY
HOME
TRIAL BALANCE
ended JANUARY 31
Adjusted Trial Balance
Debit Credit
₱ 2,384,700.00
₱ 740,000.00
₱ 470,000.00
₱ 60,000.00
₱ 70,000.00
₱ 1,000,000.00
₱ 260,000.00
₱ 1,190,000.00
₱ 90,000.00
₱ 570,000.00
₱ 2,614,700.00

₱ 4,724,700.00 ₱ 4,724,700.00
OME