General Journal

Date Account Title PR Debit Credit

2/1/2013 Cash 113,000.00
Accounts Receivable 113,000.00

2/2/2013 Accounts Payable 64,000.00

Cash 62,080.00
Purchase Discount 1,920.00

2/4/2013 Purchases 170,000.00

Input Tax 20,400.00
Accounts Payable 190,400.00

2/5/2013 Accounts Receivable - Gonzales Company 302,400.00

Sales 270,000.00
Output Tax 32,400.00

2/7/2013 Advertising Expense 6,000.00

Cash 6,000.00

2/7/2013 Cash 280,000.00

Sales 250,000.00
Output Tax 30,000.00

2/8/2013 Accounts Payable - Feb. 4 190,400.00

Purchase Discount 5,100.00
Input Tax 612.00
Cash 184,688.00

2/9/2013 Transportation In - Feb. 4 4,000.00

Cash 4,000.00

2/10/2013 Sales Return & Allowances 70,000.00

Output Tax 8,400.00
Accounts Receivable - Gonzales Company 78,400.00

2/12/2013 Cash 217,952.00

Sales Discounts 5,400.00
Output Tax 648.00
Accounts Receivable - Gonzales Company 224,000.00

2/14/2013 Interest Expense 26,000.00

Cash 26,000.00

2/15/2013 Salaries Expense 51,000.00

Cash 51,000.00
2/16/2013 Accounts Receivable - Ronzales Company 439,040.00
Sales 392,000.00
Output Tax 47,040.00

2/18/2013 Transportation Out - Feb. 16 4,000.00

Cash 4,000.00

2/19/2013 Supplies Expense 21,000.00

Cash 21,000.00

2/20/2013 Purchases 125,000.00

Input Tax 15,000.00
Accounts Payable 140,000.00

2/22/2013 Miscellaneous Expense 7,000.00

Cash 7,000.00

2/23/2013 Cash 430,259.20

Sales Discount 7,840.00
Output Tax 940.80
Accounts Receivable - Ronzales Company 439,040.00

2/24/2013 Purchases 373,000.00

Input Tax 44,760.00
Accounts Payable - Agustin Company 417,760.00

2/24/2013 Transportation In - La Paz Express 9,000.00

Cash 9,000.00

2/25/2013 Accounts Receivable - Ronzales Company 470,400.00

Sales 420,000.00
Output Tax 50,400.00

2/26/2013 Sales Returns & Allowances 71,000.00

Output Tax 8,520.00
Accounts Receivable - Ronzales Company 79,520.00

2/28/2013 Buenaflor, Withdrawals 400,000.00

Cash 400,000.00

2/28/2013 Accounts Payable - Agustin Company 28,000.00

Purchase Returns & Allowances 25,000.00
Input Tax 3,000.00

2/28/2013 VAT Output 141,331.20

VAT Input 76,548.00
VAT Payable 64,783.20
 Sales Journal
Debit Credits
Sales Invoice Post Accounts
Date Account Debited Output Tax
No. Ref. Receivable
2/5/2013 Gonzales Company 302,400.00 32,400.00
2/16/2013 Ronzales Company 439,040.00 47,040.00
2/25/2013 Ronzales Company 470,400.00 50,400.00

Total 1,211,840.00 129,840.00

Credits
Sales

270,000.00
392,000.00
420,000.00

1,082,000.00
 Purchases Journal
Credits Debits

R.R Accounts
Date Account Credited PR Purchases VAT Input Tax
No. Payable
2/4/2013 Purchased merchandise 190,400.00 170,000.00 20,400.00
2/20/2013 Lozada Company 140,000.00 125,000.00 15,000.00
2/24/2013 Agustin Company 417,760.00 373,000.00 44,760.00

Total 748,160.00 668,000.00 80,160.00

urnal
Debits
Other Account
Supplies Account Title PR Amount
 Cash Receipts Journal

Debits
O.R
Date Description Cash Output Tax Sales Discounts
NO.
2/1/2013 113,000.00
2/7/2013 280,000.00 32,400.00
2/12/2013 217,952.00 648.00
2/23/2013 430,259.20 940.80

Total 1,041,211.20 32,692.80

Cash Receipts Journal
Other Accounts
Credits
Accounts Output Tax Sales Account Title f Amount
Receivable
 Cash Disbursement Journal
Credits

Date Ck. NO. Description Cash Input Tax

2/2/2013 Payments of accounts due 62,080.00

2/7/2013 Payment of advertising expense 6,000.00
2/8/2013 Payment of amount due from Feb. 4 184,688.00 612.00
2/9/2013 Payment for freight - Feb. 4 4,000.00
2/14/2013 Payment of interest on mortgage 26,000.00
2/15/2013 Payment for salaries 51,000.00
2/18/2013 Payment for freight - Feb. 16 4,000.00
2/19/2013 Payment for supplies 21,000.00
2/22/2013 Payment for miscellaneous expense 7,000.00
2/24/2013 Payment for freight - La Paz Express 9,000.00
2/28/2013 Withdrawal of Buenaflor 400,000.00

Total 774,768.00 612.00

 Cash Disbursement Journal
Credits Debits
Other Accounts
Purchase Accounts Input Tax Purchases Account Title PR
Discount Payable
1,920.00 64,000.00
Advertising Expense
5,100.00 190,400.00
Transportation in
Interest Expense
Salaries Expense
Transportation out
Supplies Expense
Miscellaneous Expense
Transportation In
Buenaflor, Withdrawal

7,020.00 254,400.00
er Accounts
Amount

6,000.00

4,000.00
26,000.00
51,000.00
4,000.00
21,000.00
7,000.00
9,000.00
400,000.00

528,000.00
 General Ledger
Cash
Date Particulars Debit Credit
2/1/2013 Beg. Balance 33,000.00
2/1/2013 Collection from customers on account 113,000.00
2/2/2013 Payment of accounts due 62,080.00
2/7/2013 Paid advertising expense 6,000.00
2/7/2013 Sold merchandise for cash 280,000.00
2/8/2013 Payment of amount due - Feb. 4 184,688.00
2/9/2013 Payment for freight - Iloilo Freight - Feb. 4 4,000.00
2/12/2013 Collection from Gonzales Co. 217,952.00
2/14/2013 Payment of interest 26,000.00
2/15/2013 Payment of salaries 51,000.00
2/18/2013 Payment of freight - Feb. 16 4,000.00
2/19/2013 Purchased supplies for cash 21,000.00
2/22/2013 Payment of miscellaneous expenses 7,000.00
2/23/2013 Collection from Ronzales Co. 430,259.20
2/24/2013 Payment for freight - La Paz Express - Agustin 9,000.00
2/28/2013 Withdrawal of Buenaflor 400,000.00
1,074,211.20 774,768.00

General Ledger
Prepaid Insurance
Date Particulars Debit Credit
2/1/2013 Beg. Balance 48,000.00

General Ledger
Equipment
Date Particulars Debit Credit
2/1/2013 Beg. Balance 2,310,000.00

General Ledger
 Buenaflor, Capital
Date Particulars Debit Credit
2/1/2013 Beg. Balance 1,569,000.00

General Ledger
Sales Discounts
Date Particulars Debit Credit
2/12/2013 Collection from Gonzales Co. 5,400.00
2/23/2013 Collection from Ronzales Co. 7,840.00

General Ledger
Purchase Discount
Date Particulars Debit Credit
2/2/2013 Payment of accounts due 1,920.00
2/8/2013 Payment of accounts due - Feb. 4 5,100.00

General Ledger
Salaries Expense
Date Particulars Debit Credit
2/15/2013 Payment of salaries 51,000.00
 General Ledger
Miscellaneous Expense
Date Particulars Debit Credit
2/22/2013 Payment of miscellaneous expenses 7,000.00
 General Ledger
Accounts Receivable
Balance Date Particulars Debit
2/1/2013 Beg. Balance 192,000.00
2/1/2013 Collection from customers on account
2/5/2013 Sold merchandise on account - Gonzales Co. 302,400.00
2/10/2013
2/10/2013 Returns from Gonzales Co.
2/16/2013 Sold merchandise on account - Ronzales Co. 439,040.00
2/23/2013 Collection from Ronzales Co.
2/25/2013 Sold merchandise on account - Ronzales Co. 470,400.00
2/26/2013 Returns from Ronzales co.
1,403,840.00

299,443.20

General Ledger
Land
Date Particulars Debit
Balance 2/1/2013 Beg. Balance 460,000.00
48,000.00

General Ledger
Accumulated Depreciation-Equipment
Date Particulars Debit
Balance 2/1/2013 Beg. Balance
2,310,000.00

General Ledger
Buenaflor, Withdrawal
 Date Particulars Debit
Balance 2/28/2013 Withdrawal of Buenaflor 400,000.00
1,569,000.00

General Ledger
Income Summary
Date Particulars Debit
Balance
5,400.00
13,240.00

General Ledger
Transportation In
Date Particulars Debit
Balance 2/9/2013 Payment for freight - Iloilo Freight - Feb. 4 4,000.00
1,920.00 2/24/2013 Payment for freight - La Paz Express - Agustin 9,000.00
7,020.00

General Ledger
Insurance Expense
Date Particulars Debit
Balance
51,000.00

General Ledger
 Input VAT
Date Particulars Debit
Balance 2/4/2013 Purchased merchandise 20,400.00
7,000.00 2/8/2013 Paid amount due - Feb. 4
2/20/2013 Purchased merchandise on account - Lozada Co. 15,000.00
2/24/2013 Purchased merchandise on account - Agustin Co. 44,760.00

2/28/2013 Returned merchandise purchased - Agustin Co.

Total 80,160.00
 General Ledger
Merchandise Inventory
Credit Balance Date Particulars
2/1/2013 Beg. Balance
113,000.00

78,400.00
224,000.00

439,040.00

79,520.00
933,960.00 469,880.00

General Ledger
Credit Balance Building
460,000.00 Date Particulars
2/1/2013 Beg. Balance

pment General Ledger

Credit Balance Accounts Payable
630,000.00 630,000.00 Date Particulars
2/1/2013 Beg. Balance
2/2/2013 Payment of accounts due
2/4/2013 Purchased merchandise
2/8/2013 Payment of amount due - Feb. 4
2/20/2013 Purchased merchandise on account - Lozada Co.
2/24/2013 Purchased merchandise on account - Agustin Co.
2/28/2013 Returned mrechandised purchased - Agustin

General Ledger
Credit Balance Sales
400,000.00 Date Particulars
2/5/2013 Sold merchandise on account - Gonzales Co.
2/7/2013 Sold merchandise for cash
2/16/2013 Sold merchandise on account - Ronzales Co.
2/25/2013 Sold merchandise on account - Ronzales Co.

General Ledger
Credit Balance Purchases
Date Particulars
2/4/2013 Purchased merchandise
2/20/2013 Purchased merchandise on account - Lozada Co.
2/24/2013 Purchased merchandise on account - Agustin Co.

General Ledger
Credit Balance Transportation Out
4,000.00 Date Particulars
13,000.00 2/18/2013 Payment of freight - Feb. 16

General Ledger
Credit Balance Depreciation Expense
Date Particulars
 General Ledger
Credit Balance Output VAT
Date Particulars
612.00 2/5/2013 Sold merchandise on account - Gonzales Co.
2/7/2013 Sold merchandise in cash
2/10/2013 Returns from Gonzales Co.
2/12/2013 Collection from Gonzales Co.
3,000.00 2/16/2013 Sold merchandise on account - Ronzales Co.
2/23/2013 Collection from Ronzales Co.
3,612.00 76,548.00 2/25/2013 Sold merchandise on account - Ronzales Co.
2/26/2013 Returns from Ronzales Co.
eneral Ledger General Led
handise Inventory Supplies
Debit Credit Balance Date
413,000.00 413,000.00 2/1/2013

eneral Ledger General Led

Building Acc. Depreciation
Debit Credit Balance Date
1,750,000.00 1,750,000.00 2/1/2013

eneral Ledger General Led

counts Payable Salaries Pay
Debit Credit Balance Date
108,000.00
64,000.00
190,400.00
190,400.00
140,000.00
417,760.00
28,000.00
282,400.00 856,160.00 573,760.00

eneral Ledger General Led

 Sales Sales Return & Al
Debit Credit Balance Date
270,000.00 270,000.00 2/10/2013
250,000.00 520,000.00 2/26/2013
392,000.00 912,000.00
420,000.00 1,332,000.00
1,332,000.00

eneral Ledger General Led

Purchases Purchase Return &
Debit Credit Balance Date
170,000.00 170,000.00 2/28/2013
125,000.00 295,000.00
373,000.00 668,000.00

eneral Ledger General Led

nsportation Out Supplies Exp
Debit Credit Balance Date
4,000.00 4,000.00 2/19/2013

eneral Ledger General Led

eciation Expense Advertising Ex
Debit Credit Balance Date
2/7/2013
eneral Ledger General Led
Output VAT Value-Added Tax
Debit Credit Balance Date
32,400.00 2/28/2013
30,000.00
8,400.00
648.00
47,040.00
940.80
50,400.00
8,520.00
18,508.80 159,840.00 141,331.20
 General Ledger
Supplies
Particulars Debit Credit Balance
Beg. Balance 51,000.00 51,000.00

General Ledger
Acc. Depreciation-Building
Particulars Debit Credit Balance
Beg. Balance 350,000.00 350,000.00

General Ledger
Salaries Payable
Particulars Debit Credit Balance

General Ledger
 Sales Return & Allowances
Particulars Debit Credit Balance
Returns from Gonzales Co. 70,000.00 70,000.00
Returns from Ronzales Co. 71,000.00 141,000.00

General Ledger
Purchase Return & Allowances
Particulars Debit Credit Balance
Returned merchandise purchased - Agustin 25,000.00 25,000.00

General Ledger
Supplies Expense
Particulars Debit Credit Balance
Purchase supplies for cash 21,000.00 21,000.00

General Ledger
Advertising Expenses
Particulars Debit Credit Balance
Paid advertising expense 6,000.00 6,000.00
 General Ledger
Value-Added Tax Payable
Particulars Debit Credit Balance
76,548.00 141,331.20 64,783.20
 General Ledger
Mortage Payable
Date Particulars Debit Credit
2/1/2013 Beg. Balance 2,600,000.00
 General Ledger
Interest Expense
Date Particulars Debit Credit
2/14/2013 Payment of interest on mortgage payable 26,000.00
 Balance
2,600,000.00
Balance
26,000.00
 Unadjusted Trial Balance Adjustments
Account Title
Debit Credit Debit Credit
Cash 299,443.20
Accounts Receivable 469,880.00
Merchandise Inventory 413,000.00
Supplies 51,000.00 14,000.00
Prepaid insurance 48,000.00
Land 460,000.00
Building 1,750,000.00
Accumulated Depreciation - Building 350,000.00 9,000.00
Equipment 2,310,000.00
Accumulated Depreciation - Equipment 630,000.00 12,000.00
Accounts Payable 573,760.00
Salaries Payable 51,000.00
Mortgage Payable 2,600,000.00
VAT Payable 64,783.20
Buenaflor, Capital 1,569,000.00
Buenaflor, Withdrawals 400,000.00
Income Summary
Sales 1,332,000.00
Sales Return and Allowances 141,000.00
Sales Discounts 13,240.00
Purchases 668,000.00
Purchase Return and Allowancecs 25,000.00
Purchase Discount 7,020.00
Transportation In 13,000.00
Salaries Expense 51,000.00 51,000.00
Supplies Expense 21,000.00 14,000.00
Insurance Expense 2,000.00
Depreciation Expense - Building 9,000.00
Depreciation Expense - Equipment 12,000.00
Transportation out 4,000.00
Advertising Expense 6,000.00
Interest Expense 26,000.00
Miscellaneous Expense 7,000.00
Total 7,151,563.20 7,151,563.20
-
Adjustments:
Merchandise Inventory, Feb. 28
Insurance Payable 2,000.00

Total 88,000.00 88,000.00

 Adjusted Trial Balance

Debit Credit
299,443.20
469,880.00
413,000.00
65,000.00
48,000.00
460,000.00
1,750,000.00
359,000.00
2,310,000.00
642,000.00
573,760.00
51,000.00
2,600,000.00
64,783.20
1,569,000.00
400,000.00

1,332,000.00
141,000.00
13,240.00
668,000.00
25,000.00
7,020.00
13,000.00
-
7,000.00
2,000.00
9,000.00
12,000.00
4,000.00
6,000.00
26,000.00
7,000.00

2,000.00

7,174,563.20 7,174,563.20