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Kimberly-Clark Transaction

The document details the financial transactions and accounts for Kimberly-Clark for June 2021, including cash flow, purchases, sales, and expenses. It includes a trial balance, income statement, statement of changes in owner's equity, and closing entries. The financial data reflects the company's financial position and performance for the month, showing a net income and changes in capital.

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39 views14 pages

Kimberly-Clark Transaction

The document details the financial transactions and accounts for Kimberly-Clark for June 2021, including cash flow, purchases, sales, and expenses. It includes a trial balance, income statement, statement of changes in owner's equity, and closing entries. The financial data reflects the company's financial position and performance for the month, showing a net income and changes in capital.

Uploaded by

raymart fajiculay
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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KIMBERLY-CLARK

Date DESCRIPTION PR DR/DEBIT CR/CREDIT


2021

June 1 Cash 101 ₱300,000.00


Rizalino Capital 301 ₱300,000.00
Initial investment.

June 2 Purchases 401 ₱137,500.00


Cash 101 ₱137,500.00
Bought merchandise on cash basis.

June 3 Equipment 105 ₱36,000.00


Cash 101 ₱36,000.00
Bought equipment.

June 4 Cash 101 ₱6,000.00


SUBSIDIARY LEDGER OF KIMBERLY-CLARK

ACCOUNT TITLE: CASH


ACCOUNT NUMBER: 101
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 1 Initial Investment GJ1 ₱300,000.00 ₱300,000.00
June 2 Merchandise GJ1 ₱137,500.00 ₱162,500.00
June 3 Equipment GJ1 ₱36,000.00 ₱126,500.00
June 4 Refund GJ1 ₱6,000.00 ₱132,500.00
June 7 Freight in GJ1 ₱2,100.00 ₱130,400.00
June 9 Sold merchandise GJ1 ₱139,700.00 ₱270,100.00
June 11 Merchandise GJ1 ₱134,700.00 ₱135,400.00
June 12 Refund for defective merchandise GJ1 ₱10,800.00 ₱124,600.00
June 13 Paid Allday GJ1 ₱108,000.00 ₱16,600.00
June 14 BPI - Notes Payable GJ1 ₱150,000.00 ₱166,600.00
June 15 Paid salaries GJ1 ₱15,000.00 ₱151,600.00
June 19 Supplies GJ1 ₱2,100.00 ₱149,500.00
June 22 Freight out GJ1 ₱1,500.00 ₱148,000.00
June 26 Paid Robinson GJ1 ₱41,062.00 ₱106,938.00
June 28 Withdrawal GJ1 ₱36,000.00 ₱70,938.00
June 29 Collection GJ1 ₱30,500.00 ₱101,438.00
June 30 Month-end expenses GJ1 ₱48,850.00 ₱52,588.00

ACCOUNT TITLE: ACCOUNTS RECEIVABLE


ACCOUNT NUMBER: 102
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 10 GJ1 ₱156,800.00 ₱156,800.00
June 18 GJ1 ₱30,500.00 ₱187,300.00
June 29 GJ1 ₱30,500.00 ₱156,800.00

ACCOUNT TITLE: SUPPLIES


ACCOUNT NUMBER: 103
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 19 GJ1 ₱2,100.00 ₱2,100.00

ACCOUNT TITLE: EQUIPMENT


ACCOUNT NUMBER: 105
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 3 GJ1 ₱36,000.00 ₱36,000.00

ACCOUNT TITLE: ACCOUNTS PAYABLE


ACCOUNT NUMBER: 201
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 5 GJ1 ₱136,500.00 ₱136,500.00
June 13 GJ1 ₱108,000.00 ₱28,500.00
June 16 GJ1 ₱43,500.00 ₱72,000.00
June 23 GJ1 ₱1,600.00 ₱70,400.00
June 26 GJ1 ₱41,900.00 ₱28,500.00

ACCOUNT TITLE: NOTES PAYABLE


ACCOUNT NUMBER: 202
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June14 GJ1 ₱150,000.00 ₱150,000.00

ACCOUNT TITLE: RIZALINO CAPITAL


ACCOUNT NUMBER: 301
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 1 GJ1 ₱300,000.00 ₱300,000.00

ACCOUNT TITLE: RIZALINO DRAWING


ACCOUNT NUMBER: 302
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 28 GJ1 ₱36,000.00 ₱36,000.00

ACCOUNT TITLE: PURCHASES


ACCOUNT NUMBER: 401
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 2 GJ1 ₱137,500.00 ₱137,500.00
June 5 GJ1 ₱136,500.00 ₱274,000.00
June 11 GJ1 ₱134,700.00 ₱408,700.00
June 16 GJ1 ₱43,500.00 ₱452,200.00

ACCOUNT TITLE: PURCHASES RETURNS AND ALLOWANCES


ACCOUNT NUMBER: 402
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 4 GJ1 ₱6,000.00 ₱6,000.00
June 23 GJ1 ₱1,600.00 ₱7,600.00
ACCOUNT TITLE: PURCHASE DISCOUNT
ACCOUNT NUMBER: 403
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 26 GJ1 ₱838.00 ₱838.00

ACCOUNT TITLE: SALES


ACCOUNT NUMBER: 410
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 9 GJ1 ₱139,700.00 ₱139,700.00
June 10 GJ1 ₱156,800.00 ₱296,500.00
June 18 GJ1 ₱30,500.00 ₱327,000.00

ACCOUNT TITLE: SALES RETURNS AND ALLOWANCES


ACCOUNT NUMBER: 415
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 12 GJ1 ₱10,800.00 ₱10,800.00

ACCOUNT TITLE: SALES DISCOUNTS


ACCOUNT NUMBER: 420
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT

ACCOUNT TITLE: FREIGHT IN


ACCOUNT NUMBER: 501
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 7 GJ1 ₱2,100.00 ₱2,100.00

ACCOUNT TITLE: FREIGHT OUT


ACCOUNT NUMBER: 502
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 22 GJ1 ₱1,500.00 ₱1,500.00

ACCOUNT TITLE: SALARIES EXPENSE


ACCOUNT NUMBER: 503
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 15 GJ1 ₱15,000.00 ₱15,000.00
June 30 GJ1 ₱15,000.00 ₱30,000.00

ACCOUNT TITLE: ADVERTISING EXPENSE


ACCOUNT NUMBER: 504
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 30 GJ1 ₱9,200.00 ₱9,200.00

ACCOUNT TITLE: TELEPHONE EXPENSE


ACCOUNT NUMBER: 505
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 30 GJ1 ₱1,650.00 ₱1,650.00

ACCOUNT TITLE: RENT EXPENSE


ACCOUNT NUMBER: 506
BALANCE
DATE REMARKS REFERENCE DEBIT CREDIT
DEBIT CREDIT
June 30 GJ1 ₱20,000.00 ₱20,000.00
KIMBERLY-CLARK
TRIAL BALANCE
JUNE 30, 2021
PR DESCRIPTION DR/DEBIT CR/CREDIT
101 Cash 52,588.00
102 Accounts Receivable 156,800.00
103 Supplies 2,100.00
105 Equipment 36,000.00
201 Accounts Payable 28,500.00
202 Notes Payable 150,000.00
301 Rizalino Capital 300,000.00
302 Rizalino Drawing 36,000.00
401 Purchases 452,200.00
402 Purchases Returns and Allowances 7,600.00
403 Purchase Discount 838.00
410 Sales 327,000.00
415 Sales Returns and Allowances 10,800.00
420 Sales Discount -
501 Freight In 2,100.00
502 Freight Out 1,500.00
503 Salaries Expense 30,000.00
504 Advertising Expense 9,200.00
505 Telephone Expense 1,650.00
506 Rent Expense 20,000.00

₱810,938.00 ₱813,938.00
KIMBERLY CLARK
INCOME STATEMENT
JUNE 30, 2021
REVENUE
Service Income
LESS: OPERATING EXPENSES
Salaries Expense 5,000
Advertising Expense 1,200
Utility Expense 1,800
Rent Expense 5,000
TOTAL EXPENSES
NET INCOME

KIMBERLY CLARK
STATEMENT OF CHANGES IN OWNER'S EQUITY
JUNE 30, 2021

Beginning Capital
Less: Drawing

Add: Net Income


ENDING CAPITAL
₱25,000.00

13,000
₱12,000.00

₱300,000.00
5,000
295,000
12,000
₱307,000.00
KIMBERLY CLARK
CLOSING ENTRY
JUNE 2019 PARTICULARS PR DEBIT CREDIT

30 Service Income 25,000


Income Summary & Expense 25,000
To close service income account

30 Income Summary & Expense 13,000


Salaries Expense 5,000
Advertising Expense 1,200
Utility Expense 1,800
Rent Expense 5,000
To close expense account

30 Income Summary & Expense 12,000


Von Capital 12,000
To close profit to capital

30 Von Capital 5,000


Von's Drawing 5,000
To close withdrawal account
KIMBERLY CLARK
POST-CLOSING TRIAL BALANCE
JUNE 30, 2021
PR DESCRIPTION DR/DEBIT CR/CREDIT
101 Cash 271,000
102 Accounts Receivable 3,500
103 Nursery Supplies 22,500
201 Furnitures & Fixtures 13,000
202 Play Equipment 23,000
301 Accounts Payable 26,000
401 Von, Capital 307,000
TOTAL 333,000 333,000

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