Cash on hand

DR

Cash in Bank
CR

Beg bal
Adj.

20,000.00
3,312.37

End Bal.

3,312.37

DR
20,000.00

beg.
deposit
CRJ

55,330.20
20,000.00 Adj. Ent.
36,870.42
40,274.03
36,961.66
36,961.66

End Bal.

Furniture & Equip.

DR
beg bal
6/2/2008 GJ
6/10/2008 GJ

CR
71,926.59
3,312.37

Accum Depr. F & E

CR

DR

CR

26,500.00
36,000.00
4,575.00

650.00

67,075.00

650.00

PAGIBIG
DR

W/holding tax
CR

DR
1,000.00

CR
1,633.58

500.00

1,633.58
816.79
816.79

500.00

1,633.58

1,000.00

Mabuhay Personal
DR

Income and Expense Summary

CR

200.00
200.00

DR

CR

Petty cash fund

DR

CR
2,000.00 Adj. Ent.

Beg. Bal.
SJ

Accounts Receivable
DR
7,231.06
43,460.37 CRJ

2,000.00

Delivery Equip.
DR
90,000.00

DR

32,446.35

18,245.08

Accum. Depr - DE
CR

DR

Interest payable

Deposit for rent

CR

90,000.00

DR

Allow for bad debts

CR

DR
3,000.00

10,000.00

3,000.00

10,000.00

Rent payable
CR

DR
beg. Bal
Reversing ent

10,000.00

Utilities payable
CR
10,000.00

DR
Reversing ent

1,500.00

Allow for bad debts

Notes Receivable

Interest Receivable

CR

DR

CR

DR

CR

Deposit for utilities

DR
CR
2,000.00

DR

Deposit for rent

Accounts Payable

528
20266.5
2,000.00

Utilities payable
1500

DR

VAT Payable
DR
500

500.00

Notes Payabl
CR
20,266.50
37,721.64

37,193.64

Creditable income tax w/held

DR
CR

CR
beg. Bal

Merchandise Inve
DR

CR

Input tax
CR

2058.15

DR
2,058.15

GJ
PJ
CPJ

Merchandise Inventory
DR
CR
43917.3

Prepaid Insurance
DR

Prepaid supplies
CR

DR
beg. Bal

CR
313.35
rev. entry

313.35

43917.3

Notes Payable
DR

SS & Ec Premuims payable

DR
CR

CR
5124

DR
3152

825.00

3152

825.00

5124

Input tax
DR

4682.47

412.50

412.50

Output Tax
CR

549
4041.61 GJ
148.43

DR
CRJ

Mabuhay Capital
CR

SJ
56.57

PH Premium payable
CR

5156.86

DR

CR
213,206.68
36,000.00

5130.47

249,206.68

26.39

Sales
DR

Sales Discount
CR
42973.91

PAGIBIG Cont.
DR

CR

DR

CR
219.94

Medicare prem. Exp

DR
CR

Sales return and allow

DR
CR

Purchases
DR
33680.03

Rent expense
DR

SS & EC Prem. Exp.

DR
CR

CR
10000

CR

10000

chases

Freight in
CR

DR

Prem. Exp.
CR

DR

Purchase Discount
CR

DR

CR

DR

Salaries
16500
16500
33000

Supplies expense
313.35

Purchase Discount
CR
102.33

Purchases return and allowances

DR
CR
471.43

Supplies expense

Advertising
DR

Taxes and licenses

CR

DR

Utilities Expense
CR

DR

Advertising
DR

Bad Debts
CR

DR

CR

Repair and maintenance

DR
CR
892.86

Utilities Expense
DR
1500
552.05

1500

CR

Depreciation - F&E
DR

Depr. DE
CR

DR

CR

DR

Interest Income
DR

CR

Interest Expense
CR

Gas and oil

DR

CR
446.43

Bank charges
DR

CR

BUENO MARKETING

Unadjusted traial balance

Debit
Credit
40,274.03
2,000.00
18,245.08
43,917.30
67,075.00
650.00
90,000.00
3,000.00
10,000.00
2,000.00
37,193.64
5,124.00
1,100.00
412.50
500.00
1,633.58

Account
Cash on Hand
Cash in Bank
Petty Cash Fund
Accounts Receivable
Merchandise Inventory Beg.
Furniture & Equipment
Accum. Depr. - Fur & Equip.
Delivery Equipment
Accum. Depr. - Del. Equip.
Deposit for Rent
Deposit for Utilities
Accounts Payable
Notes Payable
SS & EC Premiums Payable
PhilHealth Premiums Payable
PAGIBIG Premiums Payable
Withholding Tax Payable
Rent Payable
Utilities Payable
Input Tax
4,682.47
Output Tax
Mabuhay Capital
Mabuhay Personal
200.00
Sales
Sales Discount
219.94
Purchases
33,680.03
Purchase Discount
Purchases Return and Allowances
Gas and Oil Expense
446.43
Salaries Expense
33,000.00
Supplies Expense
313.35
Utilities Expense
552.05
Repair and Maintenance Expen
892.86
347,498.54
SS EC Expense
Philhealth Expense
Pagibig Expense
Rent Expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Prepaid supplies
Interest expense
Interest payable
Cost of sales
VAT Payable
Merchandise inv end
Income and expense summary

5,130.47
249,206.68

For the Month Ended June

Adjustment
Debit
Credit
3,312.37
4,012.37
1,453.30
43,917.30
832.19
1,500.00

2,052.00
412.50
500.00

155.70
5,130.47

10,000.00
1,500.00
4,838.17

42,973.91

102.33
471.43
312.50
275.00
1,500.00
710.10

275.00

###
2,052.00
412.50
500.00
10,000.00
832.19
1,500.00
700.00
275.00
51.24
51.24
973.31
292.30
44,890.61
72,609.68

72,609.68
-

BUENO MARKETING
WORKSHEET
For the Month Ended June 30, 2006
Adjusted trial balance
Account
Debit
Credit
Cash on Hand
3,312.37
Cash in Bank
36,261.66
Petty Cash Fund
546.70
Accounts Receivable
18,245.08
Merchandise Inventory Beg.
Furniture & Equipment
67,075.00
Accum. Depr. - Fur & Equip.
1,482.19
Delivery Equipment
90,000.00
Accum. Depr. - Del. Equip.
4,500.00
Deposit for Rent
10,000.00
Deposit for Utilities
2,000.00
Accounts Payable
37,193.64
Notes Payable
5,124.00
SS & EC Premiums Payable
3,152.00
PhilHealth Premiums Payable
825.00
PAGIBIG Premiums Payable
1,000.00
Withholding Tax Payable
1,633.58
Rent Payable
10,000.00
Utilities Payable
1,500.00
Input Tax
Output Tax
Mabuhay Capital
249,206.68
Mabuhay Personal
200.00
Sales
42,973.91
Sales Discount
219.94
Purchases
33,680.03
Purchase Discount
102.33
Purchases Return and Allowances
471.43
Gas and Oil Expense
758.93
Salaries Expense
33,000.00
Supplies Expense
313.35
Utilities Expense
2,052.05
Repair and Maintenance Expen
1,602.96
SS EC Expense
Philhealth Expense
Pagibig Expense
Rent Expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Prepaid supplies
Interest expense
Interest payable
Cost of sales
VAT Payable
Merchandise inv end
Income and expense summary

2,052.00
412.50
500.00
10,000.00
832.19
1,500.00
700.00
275.00
51.24

Income statement
Debit
Credit

200.00
42,973.91
219.94
33,680.03
102.33
471.43
758.93
33,000.00
313.35
2,052.05
1,602.96
2,052.00
412.50
500.00
10,000.00
832.19
1,500.00
700.00
51.24

51.24
973.31
292.30
44,890.61
360,481.61

###

973.31

87,875.19

44,520.98
43,354.21

87,875.19

87,875.19

BS
Account
Debit
Cash on Hand
3,312.37
Cash in Bank
36,261.66
Petty Cash Fund
546.70
Accounts Receivable
18,245.08
Merchandise Inventory Beg.
Furniture & Equipment
67,075.00
Accum. Depr. - Fur & Equip.
Delivery Equipment
90,000.00
Accum. Depr. - Del. Equip.
Deposit for Rent
10,000.00
Deposit for Utilities
2,000.00
Accounts Payable
Notes Payable
SS & EC Premiums Payable
PhilHealth Premiums Payable
PAGIBIG Premiums Payable
Withholding Tax Payable
Rent Payable
Utilities Payable
Input Tax
Output Tax
Mabuhay Capital
Mabuhay Personal
Sales
Sales Discount
Purchases
Purchase Discount
Purchases Return and Allowances
Gas and Oil Expense
Salaries Expense
Supplies Expense
Utilities Expense
Repair and Maintenance Expen
SS EC Expense
Philhealth Expense
Pagibig Expense
Rent Expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Prepaid supplies
Interest expense
Interest payable
Cost of sales
VAT Payable
Merchandise inv end

Credit

1,482.19
4,500.00

#VALUE!
5,124.00
3,152.00
825.00
1,000.00
1,633.58
10,000.00
1,500.00

249,206.68

275.00

44,890.61
###
Income and expense summary #VALUE!

51.24
292.30
#VALUE!

#VALUE!

#VALUE!

BUENO MARKETING
List of Adjusting Entries
June 30, 2008
a

SS EC exp
Philhealth exp
PAGIBIG
SS EC payable
Philhealth payable
PAGIBIG Payable
to accrue SS EC and PH
Rent Expense
Utilities expense
Rent Payable
Utilities Payable
to accrue ent and utilities
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Accum. Depr. F & E
Accum. Depr. DE
to record depreciation

10,000.00
1,500.00
10,000.00
1,500.00

832.19
1,500.00
832.19
1,500.00

700.00

Prepaid supplies
Supplies expense
to record unused supplies

275.00

Supplies expense
Repair and maintenance
Gas and Oil
Input tax
Petty cash fund
to adjust petty cash

275.00
710.10
312.50
155.70

Output VAT
Input VAT
VAT payable
to close output against input VAT

Interest expense
Interest payable
to accrue interest

2,052.00
412.50
500.00

Bank Charges
Cash in bank
to record bank charges

2,052.00
412.50
500.00

Merchandise inv. - end

Cost of sales
Merchandise inv. - beg.
to record ending inventory
Cash on hand

700.00

275.00

1,453.30

51.24
51.24

44,890.61
973.31
43,917.30

3,312.37

Cash in bank

3,312.37

BUENO MARKETING
Sales Journal

Date
June 2,
June 3,
June 6,
June 9,
June 11,
June 15,
June 17,
June 22,
June 23,
June 29,

2008
2008
2008
2008
2008
2008
2008
2008
2008
2008

Customer
Emma perez
Phil. Christian House
Care Supermarket
Joni Bolatao
Vasquez grocery
Mang pandong
Marieta Mallari
Fairview
International SM
Merle Anastacio

Terms
COD
25%DP
25%DP
COD
25%DP
25%DP
COD
25%DP
25%DP
COD

Inv #
0008
0018
0019
0020
0021
0022
0023
0024
0025
0026

A/R debit

Cash Sales (dr) Sales credit

1,433.60

1,332.80

1,280.00
10,071.15
4,655.80
415.00
8,593.79
5,662.42
1,285.00
4,713.26
5,107.49
1,190.00

153.60
1,208.54
558.69
49.80
1,031.25
679.49
154.20
565.59
612.90
142.80

4,670.40

42,973.91

5,156.86

11,279.69
5,214.49
464.80
9,625.04
6,341.91
1,439.20
5,278.85
5,720.39

43,460.37

Output Tax

BUENO MARKETING
Cash Receipts Journal
Date
June 2,
June 2,
June 4,
June 5,
June 6,
June 9,
June 10,
June 11,
June 14,
June 15,
June 17,
June 22,
June 23,
June 27,
June 29,

2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008
2008

Received from
Emma perez
Phil Christian house
International SM
vasquez
care supermarket
Joni Bolatao
Phil Christian house
vasquez
care supermarket
mang pandong
marieta mallari
fairview
international SM
fairview
merle anastacio

Explaination
cash sales
25% down payment
Full payment
Full payment
25% down payment
cash sales
Full payment
25% down payment
Full payment
25% down payment
cash sales
25% down payment
25% down payment
partial payment
cash sales

OR

CI
0008

0009

Cash in bank
(dr)
1,433.60
2,819.92
3,779.79
3,374.14
1,303.62
464.80
8,290.57
2,406.26
3,910.87
1,585.48
1,439.20
1,319.71
1,430.10
1,979.57
1,332.80
36,870.42

Sales
Accounts
Cash
discount Receivable (CR) sales (Cr)

Sundry Credit
Account Amount

1,433.60
68.87

2,819.92
3,856.92
3,374.14
1,303.62

Output ta

(8.26)

Output ta

(18.13)

464.80
151.07

8,459.77
2,406.26
3,910.87
1,585.48
1,439.20
1,319.71
1,430.10
1,979.57
1,332.80

219.94

32,446.35

4,670.40

(26.39)

BUENO MARKETING
Purchases Journal
Date
Purchases from
June 4, 2008 Evergreen manufacturing Co.
### Evergreen manufacturing Co.

Terms
n/60
n/60

INV #
310
338

Purchases (Dr) Input tax (Dr)

10,499.40
1,259.93
23,180.63
2,781.68
33,680.03
4,041.61

A/P (cr)
11,759.33
25,962.31
37,721.64

BUENO MARKETING
Cash Payment Journal

Date
Paid to
CV #
2-Jun Sy Development Co00038

Sundry
Cash in
Purchase
Accounts
CHK # Bank ( cr) Disc. (cr) payable (dr)
Account
debit
668860 11,000.00
Rent expense
10,000.00
Utilities Expense
1,500.00
Creditable w/helding tax

2-Jun BIR

00039

668861

2,058.15

Vat payable

2,058.15

2-Jun BIR

00040

668862

1,633.58

Withholding tax payable

1,633.58

7-Jun HDMF

00041

668863

1,000.00

PAGIBIG payable

1,000.00

7-Jun SSS

00042

668864

3,152.00

SS EC payable

3,152.00

7-Jun Philhealth

00043

668865

825.00

7-Jun Colgate

00044

668866

5,615.84

9-Jun BIR

00045

668867

500.00

Creditable tax w/held

500.00

11-Jun janet Lopez

00046

668868

1,700.00

mabuhay personal
repair & maintenance
Input tax
Gas and oil

200.00
892.86
160.71
446.43

14-Jun Evergreen

00047

668869

7,268.02

16-Jun Janet Lopez

00048

668870

15,683.21

17-Jun Extelcom

00049

668871

552.05

21-Jun Evergreen

00050

668872

7,268.03

30-Jun Janet Lopez

00051

668873

13,670.71

###

Philhealth payable
102.33

credit

500.00

825.00

5,730.45 Input tax

12.28

7,268.02
salaries exp.
Withholding tax payable
Utilities exp.

16,500.00
816.79
552.05

7,268.03
salarie exp
Withholding tax payable
SS EC payable
Philhealth payable
pagibig payable
102.33

20,266.50

16,500.00
816.79
412.50
500.00

BUENO MARKETING
INCOME STATEMENT
For The Month Ended June 30, 2008

Sales
Sales discount
Net Sales
Cost of sales
Beg. Inventory
Purchases
Purchase Discount
Purchase Return
End Inventory

42,973.91
219.94
42,753.97
43,917.30
33,680.03
(102.33)
(471.43)
(44,890.61)

Gross Profit
Administrative Expenses:
Gas and oil
Salaries
Supplies expense
Utilities Expense
Repair and maintenance
SS EC exp
Philhealth exp
PAGIBIG
Rent expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Interest expense
Mabuhay personal
Net Income (Loss)

32,132.96
10,621.01

758.93
33,000.00
313.35
2,052.05
1,602.96
2,052.00
412.50
500.00
10,000.00
832.19
1,500.00
700.00
51.24
200.00

53,975.22
(43,354.21)

BUENO MARKETING
BANK RECONCILIATION
For the Month June 30, 2008

Unadjusted balance per Bank

Add:
Deposit in Transit

43,529.70
3,312.37

Error on over debit of withdrawals:

Check #
Amount
668860
500.00
668867
1,200.00

1,700.00

Outstanding checks:
Check #
668868
668872

8,968.03

Less:

Adjusted Balance per Bank

Unadjusted Balance per Books

Amount
1,700.00
7,268.03

39,574.04

40,274.03

Less:
Bank service charge
Adjusted Balance per Books

700.00
39,574.03

BUENO MARKETING
BALANCE SHEET
As of June 30, 2008
Current Assets:
Cash on hand
Accounts Receivable
Merchandise Inventory
Prepaid supplies
Property, Plant and Equipment
Other Assets
TOTAL ASSETS
Current Liabilities:
Accounts payable
SS & Ec Premuims payable
PH Premium payable
PAGIBIG
W/holding tax
Rent payable
Utilities payable
Interest payable
VAT Payable

(Note 1)
(Note 2)

40,120.73
18,245.08
44,890.61
275.00

(Note 3)
(Note 4)

(Note 5)

Non Current Liabilities:

Notes Payable

Owner's equity:
Mabuhay Capital
TOTAL LIABILITIES AND OWNER'S EQUITY

103,531.42
151,092.81
12,000.00
266,624.23

37,193.64
3,152.00
825.00
1,000.00
1,633.58
10,000.00
1,500.00
51.24
292.30

55,647.76

5,124.00

5,124.00

205,852.47

205,852.47
266,624.23

BUENO MARKETING
Notes
As of June 30, 2008
Note 1:
Cash on Hand
Cash in Bank
Petty Cash Fund

Note 2:
Vasquez grocery
Mang pandong
Fairview
International SM

Note 3:
Furn & equip
Accum Depr - F & E
Delivery equip
Accum Depr - DE

Note 4:
Other Assets:
Deposit for rent
Deposit for Utilities

Note 5:
Evergeen Mfg. Co.

3,312.37
36,261.66
546.70
40,120.73

7,218.79
4,756.43
1,979.57
4,290.29
18,245.08

67,075.00
(1,482.19)
90,000.00
(4,500.00)
151,092.81

10,000.00
2,000.00
12,000.00

37,193.64

BUENO MARKETING
Post Closing Trial balace
As of June 30, 2008

Cash on hand
Cash in Bank
Petty Cash Fund
Accounts Receivable
Merchandise Inventory
Prepaid supplies
Furn & Equip
Accum Depr - F & E
Delivery equip
Accum Depr - DE
Deposit for rent
Deposit for utilities
Accounts payable
Notes Payable
SS & Ec Premuims payable
PH Premium payable
PAGIBIG
W/holding tax
Rent payable
Utilities payable
VAT payable
Interest payable
Mabuhay Capital
TOTAL

3,312.37
36,261.66
546.70
18,245.08
44,890.61
275.00
67,075.00
1,482.19
90,000.00
4,500.00
10,000.00
2,000.00
37,193.64
5,124.00
3,152.00
825.00
1,000.00
1,633.58
10,000.00
1,500.00
292.30
51.24
205,852.47
272,606.42

272,606.42

BUENO MARKETING
Closing Entries
As of June 30, 2008
Sales
Purchase Discount
Purchases return and allowances
Cost of sales
Income and expense summary
Mabuhay Personal
Sales Discount
Purchases
Gas and oil
Salaries
Supplies expense
Utilities Expense
Repair and maintenance
SS EC exp
Philhealth exp
pagibig exp
Rent expense
Depreciation - Furn. & equip.
Depreciation - Delivery equip
Bank charges
Interest expense

42,973.91
102.33
471.43
973.31
43354.2075

TOTAL

87,875.19

200.00
219.94
33,680.03
758.93
33,000.00
313.35
2,052.05
1,602.96
2,052.00
412.50
500.00
10,000.00
832.19
1,500.00
700.00
51.24
87,875.19

janet lopez
pilar
jess
daisy
willy

Gross pay withholding tax SS

3,000.00
213.60
4,000.00
281.72
3,000.00
7.28
3,500.00
253.81
3,000.00
60.38
16,500.00
816.79

PH

Pagibig

others

Gross pay withholding tax SS

PH
Pagibig
others
3,000.00
213.60
200.00
75.00
100.00
4,000.00
281.72
266.70
100.00
###
3,000.00
7.28
200.00
75.00
100.00
3,500.00
253.81
233.30
87.50
100.00
3,000.00
60.38
200.00
75.00
100.00
16,500.00
816.79
1,100.00
412.50
500.00
employers share
2,052.00
412.50
500.00
3,152.00
825.00
1,000.00
janet lopez
pilar
jess
daisy
willy

Total
net pay
213.60
2,786.40
281.72
3,718.28
7.28
2,992.72
253.81
3,246.19
60.38
2,939.62
816.79
15,683.21

Total
net pay
588.60
2,411.40
748.42
3,251.58
382.28
2,617.72
674.61
2,825.39
435.38
2,564.62
2,829.29
13,670.71