AQUARIUS COMPANY

Worksheet
August 31, 2018
UNADJUSTED TRIAL BALANCE
Debit Credit
Cash 9,122,500
Accounts Receivable 544,500
Allowance for DA
Merchandise Inventory, end
Advances of Employees 5,700
Prepaid Rent 36,000
Prepaid Interest 36,000
Store Supplies 36,428
Rent Deposit 12,000
Office Equipment 69,643
Accumulated Depr'n- Office Equipment
Furnitures & Fixtures 38,000
Accumulated Depr'n- Furnitures & Fixtures
Delivery Van 654,679
Accumulated Depr'n- Delivery Van
Accounts Payable 5,153,700
Vat Output
Vat Input
Vat Payable 361,799
SSS/PHIC/HDMF Payable 680
Withholding Tax Payable 100
Customer's deposit 80,000
Accrued Expenses
Notes Payable 300,000
AQUA, Capital 1,000,000
AQUA, Drawing 4,300
Sales 11,261,161
Sales discount 98,330
Sales Returns and Allowances 23,214
Commission Income 13,571
Purchases 7,467,322
Purchase discount 84,929
Purchase Returns and Allowances 21,473
Freight In 12,857
Freight out 17,800
Commission Expense
Salaries Expense 66,800
Taxes and Licenses 8,300
Professional Service Expense 6,500
SSS/PHIC/HDMF contribution 900
Light & water 5,140
Miscellaneous Expense 10,500
Depreciation Expense
Gasoline & Oil Expense
Interest Expense
Doubtful Account
Rent Expense
Store Supplies Expense
TOTAL 18,277,413 18,277,413
NET INCOME
OVERALL TOTAL
REF. ADJUSTMENTS ADJUSTED TRIAL BALANCE
Debit Credit Debit Credit
7 120,000 9,002,500
544,500
1 16,335 16,335

5,700
2 12,000 24,000
5 3,000 33,000
3 16,350 20,078
12,000
69,643
2,321 2,321
38,000
633 633
654,679
5,456 5,456
5,153,700
-
-
361,799
680
100
80,000
611,200 611,200
300,000
1,000,000
7 120,000 124,300
11,261,161
98,330
23,214
13,571
7,467,322
84,929
21,473
 12,857
17,800
6 588,700 588,700
66,800
8,300
6,500
900
6 6,700 11,840
10,500
4 8,410 8,410
6 15,800 15,800
5 3,000 3,000
1 16,335 16,335
2 12,000 12,000
3 16,350 16,350
787,295 787,295 18,913,358 18,913,358
 INCOME STATEMENT BALANCE SHEET
Debit Credit Debit Credit
9,002,500
544,500
16,335
355,200 355,200
5,700
24,000
33,000
20,078
12,000
69,643
2,321
38,000
633
654,679
5,456
5,153,700
-
-
361,799
680
100
80,000
611,200
300,000
1,000,000
124,300
11,261,161
98,330
23,214
13,571
7,467,322
84,929
21,473
 12,857
17,800
588,700
66,800
8,300
6,500
900
11,840
10,500
8,410
15,800
3,000
16,335
12,000
16,350
8,384,958 11,736,334 10,883,600 7,532,224
3,351,376 0 0 3,351,376
11,736,334 11,736,334 10,883,600 10,883,600
ASSETS

CASH. (1) ACCO

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 1,689,850 8.31.18 CDJ-1 1,918,340 8.01.18
08.31.18 SJ-1 5,736,500 8.31.18 CDJ-1 120,000 8.31.18
08.31.18 CRJ-1 3,614,490

TOTAL 11,040,840 2,038,340 TOTAL

BAL. 9,002,500 BAL.

MERCHANDISE INVENTORY (4) ADVA

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 CLE-3 355,200 8.01.18

BAL 355,200 BAL

PREPAID INTEREST (7) S

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.01.18 BEG 16,000 08.31.18 ADJ-2 8.01.18
08.28.18

BAL 16,000 BAL.

OFFICE EQUIPMENT. (10) ACCUMULATED DEP

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 69,643
BAL. 69,643

ACCUMULATED DEPRECIATION - F & F (13)

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 ADJ-2 633 08.25.18
08.25.18

BAL 633 BAL

LIABILITIES

ACCOUNTS PAYABLE. (16)

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 CDJ-1 1,835,800 8.01.18 beg 2,318,000 08.31.18
08.28.18 GJ-1 12,000 08.31.18 PJ-1 4,687,800 08.03.18
08.12.18 GJ-1 4,300 08.10.18
08.31.18

TOTAL 1,852,100 7,005,800 TOTAL

BAL 5,153,700

VAT PAYABLE (19) SSS/PJIC/HD

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 GJ-1 361,799 08.10.18

CUSTOMERS DEPOSIT. (22) ACC

DEBIT CREDIT DEBIT
 Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 50,000
08.28.18 CRJ - 1 30,000

BAL. 80,000

OWNER'S EQUITY

AQUA CAPITAL. (25) AQ

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.31.18 CLE-3 124,300 8.01.18 beg 500,000 8.01.18
08.20.18 CRJ-1 500,000 08.31.18
08.31.18 CLE-3 3,351,376

BAL. 4,227,076 BAL

REVENUES

SALES (27) SA
DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 CE-3 11,261,161 8.01.18 beg 3,443,304 8.01.18
08.31.18 SJ-1 7,817,857 08.31.18

BAL. 0 BAL

COMMISSION INCOME (30)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
08.31.18 CE-3 13,571 8.01.18 beg 13,571

BAL. -
EXPENSES

PURCHASES (31) PURCHASE R

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 3,974,018 08.31.18 CE-3 7,467,322 08.31.18
08.31.18 PJ-1 3,493,304

BAL. 0

FREIGHT IN (34)
DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 6,964 08.31.18 CLE-3 12,857 8.01.18
08.31.18 CDJ-18 5,893 08.03.18
08.16.18

BAL. 0 BAL.

SALARIES EXPENSE (37) TAX

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
8.01.18 beg 27,300 08.31.18 CLE-3 66,800 8.01.18
08.31.18 CDJ-18 39,500

BAL. 0 BAL.

SSS/PHIC/HDMF CONTRIBUTION (40) LIG

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.01.18 beg 900 08.01.18
08.31.18

BAL. 900 BAL

DEPRECIATION EXPENSE (43) GAS

DEBIT CREDIT DEBIT
 Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 ADJ-2 8,410 08.31.18 CLE-3 8,410 08.31.18

BAL. 0 BAL

DOUBTFUL ACCOUNTS (46) R

DEBIT CREDIT DEBIT
Date Ref AMOUNT Date Ref AMOUNT Date
08.31.18 ADJ-2 16,335 08.31.18 CLE-3 16,335 08.31.18

BAL 0 BAL

INC
DEBIT
Date
08.31.18
08.31.18

08.31.18
 ACCOUNTS RECEIVABLE. (2) ALLOWANCE FOR DA (3)
DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 393,400 08.31.18 crj-1 2,863,900
SJ-1 3,019,500 08.31.18 gj-2 4,500

3,412,900 2,868,400
544,500

ADVANCES OF EMPLOYEES (5) PREPAID RENT. (6)

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 6,100 8/31/2018 cdj-1 400 8.01.18 beg

5,700 BAL.

STORE SUPPLIES. (8) RENT DEPOSIT (9)

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 13,839 8.31.18 adj-1 16,350 8.01.18 beg
PJ-1 22,589

20,078 BAL.

ACCUMULATED DEPRECIATION - OFFICE EQUIPMENT (11) FURNITURE & FIXTURES (1

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
08.31.18 ADJ-2 2,321 08.08.18 CDJ-1
 BAL 2,321 BAL

DELIVERY VAN (14) ACCUMULATED DEPRECIATION - DELIV

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
PJ-1 669,643 08.29.18 CDJ-1 13,179
CDJ-1 8,929 08.29.30 GJ-1 10,714

654,679

VAT OUTPUT (17) VAT INPUT (18)

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
CRJ-1 5,294 8.01.18 beg 406,819 8.01.18 beg
CDJ-1 804 8.31.18 SJ-1 938,143 08.31.18 PJ-1
GJ-1 482
GJ-1 1,338,382

1,344,962 1,344,962 TOTAL

BAL 0 BAL.

SSS/PJIC/HDMF PREMIUM PAYABLE. (20) WITHHOLDING TAX PAYABLE.

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
cdj-1 620 8.01.18 beg 620 08.09.18 CDJ 8- 124
8.31.18 cdj-1 680

BAL 680

ACCRUED EXPENSES (23) NOTES PAYABLE (24)

DEBIT CREDIT DEBIT
 Ref AMOUNT Date Ref AMOUNT Date Ref
08.31.18 ADJ-1 611,200

BAL 611,200

AQUA DRAWING. (26)

DEBIT CREDIT
Ref AMOUNT Date Ref AMOUNT
beg 4,300 08.31.18 CE-3 124,300
ADJ-2 120,000

SALES DISCOUNT (28) SALES RETURNS & ALLOWANCE

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 54,214 08.31.18 CE-3 98,330 8.01.18 beg
CRJ-9 44,116 08.03.18 CDJ-1
08.10.18 CDJ-1

0 BAL.
 PURCHASE RETURNS & ALLOWANCES (32) PURHASE DISCOUNT (33
DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
CE-3 21,473 8.01.18 beg 12,277 08.31.18 CE-3
08.21.18 CRJ-1 5,357
812.18 GJ-1 3,839

BAL -

FREIGHT OUT (35) COMMISSION EXPENSE (3

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 1,500 08.31.18 CLE-3 17,800 08.01.18 BEG
CDJ 8-119 10,500
CDJ 8-129 5,800

0 BAL.

TAXES AND LICENSES (38) PROFESSIONAL SERVICE EXPEN

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
beg 8,300 08.31.18 CLE-3 8,300 08.31.18 BEG

0 BAL.

LIGHT AND WATER (41) MISCELLANEOUS EXPENSE (

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
BEG 5,140 08.31.18 CLE-3 11,840 8.01.18 beg
ADJ-1 6,700

0 BAL.

GAS AND OIL EXPENSE (44) INTEREST EXPENSE (45)

DEBIT CREDIT DEBIT
 Ref AMOUNT Date Ref AMOUNT Date Ref
ADJ-2 15,800 08.31.18 CLE-3 15,800 08.31.18 ADJ-2

0 BAL

RENT EXPENSE (47) STORE SUPPLIES EXPENSE (

DEBIT CREDIT DEBIT
Ref AMOUNT Date Ref AMOUNT Date Ref
ADJ-2 12,000 08.31.18 CLE-3 12,000 08.31.18 ADJ-2

0 BAL

INCOME SUMMARY (49)

DEBIT CREDIT
Ref AMOUNT Date Ref AMOUNT
CLE-3 7,373,777 08.31.18 CLE-3 11,153,188
CLE-3 783,235 08.31.18 CLE-3 355,200
8,157,012 11,508,388
CLE-3 3,351,376 08.31.18 BAL 3,351,376

0
 ALLOWANCE FOR DA (3)
DEBIT CREDIT
AMOUNT Date Ref AMOUNT
08.31.18 ADJ-2 16,335

BAL 16,335

PREPAID RENT. (6)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
36,000 08.31.18 adj-1 12,000

24,000

RENT DEPOSIT (9)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
12,000

12,000

FURNITURE & FIXTURES (12)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
38,000
 38,000

ACCUMULATED DEPRECIATION - DELIVERY VAN (15)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
08.31.18 GJ-2 5,456

BAL 5,456

VAT INPUT (18)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
479,214 08.21.18 CRJ-1 643
502,264 08.31.18 CDJ-1 2,505
08.12.18 GJ-1 461
08.28.18 GJ-1 1,286
08.31.18 GJ-1 976,583

981,478 981,478
-

WITHHOLDING TAX PAYABLE. (21)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
2,805 8.01.18 beg 2,805
08.31.18 CDJ 8-136 100
2,805 2,905

BAL. 100

NOTES PAYABLE (24)

DEBIT CREDIT
 AMOUNT Date Ref AMOUNT
08.31.18 CRJ-1 300,000

BAL 300,000

SALES RETURNS & ALLOWANCES (29)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
12,500 08.31.18 CE-3 23,214
6,696
4,018

0
 PURHASE DISCOUNT (33)
DEBIT CREDIT
AMOUNT Date Ref AMOUNT
84,929 8.01.18 beg 58,746
08.31.18 CDJ - 1 26,183

Bal. -

COMMISSION EXPENSE (36)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
588,700 08.31.18 CL-3 588,700

PROFESSIONAL SERVICE EXPENSE (39)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
6,500 08.31.18 CLE-3 6,500

MISCELLANEOUS EXPENSE (42)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
10,500 8.31.18 CL-3 10,500

INTEREST EXPENSE (45)

DEBIT CREDIT
 AMOUNT Date Ref AMOUNT
3,000 08.31.18 CLE-3 3,000

STORE SUPPLIES EXPENSE (48)

DEBIT CREDIT
AMOUNT Date Ref AMOUNT
16,350 08.31.18 CLE-3 16,350

0
GENERAL JOURNAL

DATE JV NO. PARTICULARS F

8.03.18 08-001 NO ENTRY (refer to CDJ CV#8-118 )

08.10.18 08-002 Sales Returns & allowances GL-29

Vat Output GL-17
A/R- Strong values School GL-2
Allowance for slightly damaged goods per SI No. 00019/ CM 007

08.12.08 08-003 A/P- Zoro Company GL-16

Purchase Returns and Allowance GL-33
Vat Input GL-18
Returned defective MDSE to Zoro company per DM No. 008

08.20.18 08-004 Vat Output GL-17

Vat Input GL-18
Vat Payable GL-19
To set up VAT Payable

08.21.18 08-005 NO ENTRY (refer to CRJ)

(See CRJ OR # 12012 ) DM 009

08.28.18 08-006 A/P-Toyota Company GL-16

Delivery Van GL-14
VAT Input GL-18
Allowance for slightly damaged items DM 010
 PAGE 1 GENERAL JOURNAL

DEBIT CREDIT DATE JV NO.

8/31/2018 1

4,018
482 8/31/2018 2
4,500

4,300 8/31/2018 3
3,839
461

8/31/2018 4
1,338,382
976,583
361,799

8/31/2018 5

12,000
10,714 8/31/2018 6
1,286
ADJUSTING JOURNAL ENTRIES PAGE 2

PARTICULARS F DEBIT CREDIT

Doubtful Account GL-46 16,335
Allowance for DA GL3 16,335
Provision for the allowance for doubtful accounts
#
Rent Expense GL-47 12,000
Prepaid Rent GL-6 12,000
Recognized expired portion
#
Store Supplies Expense GL-48 16,350
Store Supplies GL-8 16,350
Recognized used portion.
#
Depreciation Expense GL-43 8,410
Accumulated Depreciation -O.E GL-11 2,321
Accumulated Depreciation - F & F GL-13 633
Accumulated Depreciation - D.V GL-15 5,456
Provision for depreciation.
#
Interest Expense GL-45 3,000
Prepaid Interest GL-7 3,000
Recognized expired portion.
#
Light and Water GL-41 6,700
Gasoline and Oil GL-44 15,800
Commision expense GL-36 588,700
Accrued Expenses GL-23 611,200
Unpaid accrued expenses
#
GENERAL JOURNAL CLOSING ENTRIES

DATE JV NO. PARTICULARS F

8/31/2018 1 Sales
Commission Income
Sales Returns & Allowances
Sales Discounts
Income Summary GL-49
Close all sales transactions.
#
8/31/2018 2 MDSE Inventory end
Income Summary GL-49
To set-up inventory end.
#
8/31/2018 3 Income Summary GL-49
Purchase Discount
Purchase Returns & Allowances
Purchases
Frieght-in
Close all purchase transactions
#
8/31/2018 4 Income Summary GL-49
Freight In
Freight out
Commission Expense
Salaries Expense
Taxes and Licenses
Professional Service Expense
SSS/PHIC/HDMF contribution
Light & water
Miscellaneous Expense
Depreciation Expense
Gasoline & Oil Expense
Interest Expense
Doubtful Account
Rent Expense
Store Supplies Expense
Close all operating expenses
#
8/31/2018 5 Income Summary GL-49
Aqua, Capital GL-25
 Close income summary to capital
#
8/31/2018 6 Aqua, Capital GL-25
Aqua, Drawings GL-26
Close withdrwals to capital
#
 PAGE 3

DEBIT CREDIT
11,261,161
13,571
23,214
98,330
11,153,188

355,200
355,200

7,373,777
84,929
21,473
7,467,322
12,857

783,235
12,857
17,800
588,700
66,800
8,300
6,500
900
11,840
10,500
8,410
15,800
3,000
16,335
12,000
16,350

3,351,376
3,351,376
124,300
124,300
AQUARIUS COMPANY
Post-Closing Trial Balance
August 31, 2018 POST-CLOSING TRIAL BALANCE
Debit Credit
Cash 9,002,500
Accounts Receivable 544,500
Allowance for DA 16,335
Merchandise Inventory, end 355,200
Advances of Employees 5,700
Prepaid Rent 24,000
Prepaid Interest 33,000
Store Supplies 20,078
Rent Deposit 12,000
Office Equipment 69,643
Accumulated Depr'n- Office Equipment 2,321
Furnitures & Fixtures 38,000
Accumulated Depr'n- Furnitures & Fixtures 633
Delivery Van 654,679
Accumulated Depr'n- Delivery Van 5,456
Accounts Payable 5,153,700
Vat Payable 361,799
SSS/PHIC/HDMF Payable 680
Withholding Tax Payable 100
Customer's deposit 80,000
Accrued Expenses 611,200
Notes Payable 300,000
Aqua, Capital 4,227,076
TOTAL 10,759,300 10,759,300
 AQUAMARINE COMPANY
INCOME STATEMENT
For the month ended August 31, 2018

REVENUES:
Sales P
Less: Sales Discount 98,330
Sales Returns and Allowances 23,214
Net Sales

LESS: COST OF SALES

Purchases 7,467,322
Less: Purchase Discount 84,929
Purchase Returns and Allowances 21,743
Add: Freight In
Goods available for sale
Less: MDSE Inventory end
ADD: Commission Income
GROSS PROFIT

Less: Operating expenses

Freight out P
Commission Expense
Salaries Expense
Taxes and Licenses
Professional Service Expense
SSS/PHIC/HDMF contribution
Light & water
Miscellaneous Expense
Depreciation Expense
Gasoline & Oil Expense
Doubtful Account
Rent Expense
Store Supplies Expense
Less: Interest Expense
Net Income
 AQUAMARINE COMPANY
INCOME STATEMENT
As of August 31, 2018

A S S E T S

Current Assets:
Cash P
Accounts Receivable 544,500
Less: allowance for doubtful accounts 16,335
MDSE Inventory, end
Advances of Employees
Prepaid Rent
Prepaid Interest
Store Supplies
Rent Deposit

Non-Current Assets:
Office Equipment 69,643
Accumulated Depr'n- Office Equipment 2,321
Furnitures & Fixtures 38,000
Accumulated Depr'n- Furnitures & Fixtures 633
Delivery Van 654,679
Accumulated Depr'n- Delivery Van 5,456

TOTAL ASSETS

LIABILITIES AND OWNER'S EQUITY

Current Liabilities:
Accounts Payable P
Vat Payable
SSS/PHIC/HDMF Payable
Withholding Tax Payable
Customer's deposit
Accrued Expenses
Notes Payable
TOTAL LIABILITIES

Owner's Equity:
 Aqua, Capital P
Add: Net Income
Total
Less: Aveflor withdrawal
Capital Balance End

TOTAL LIABILITIES AND OWNER'S EQUITY

AQUAMARINE COMPANY
STATEMENT OF CHANGES IN OWNER'S EQUITY
For the month ended August 31, 2018

Mr. Aqua, Capital, Beginning P

Add: Net Income
Subtotal

Less: Mr. Aqua, Drawings

Mr. Aqua, Capital - ending P
NE COMPANY
STATEMENT
ded August 31, 2018

11,261,161

121,544
P 11,139,617

7,360,920
12,857
7,373,777
355,200 7,018,577
13,571
P 4,134,611

17,800
588,700
66,800
8,300
6,500
900
11,840
10,500
8,410
15,800
16,335
12,000
16,350
3,000 780,235
P 3,354,376
NE COMPANY
STATEMENT
ust 31, 2018

T S

9,002,500

528,165
355,200
5,700
24,000
33,000
20,078
12,000 P 9,980,643

67,322

37,367

649,223 P 753,912

P 10,734,555

EQUITY

5,153,700
361,799
680
100
80,000
611,200
300,000
6,507,479
 1,000,000
3,351,376
4,351,376
124,300
4,227,076

P 10,734,555

NE COMPANY
GES IN OWNER'S EQUITY
ded August 31, 2018

1,000,000
3,351,376
4,351,376

124,300
4,227,076