Bida-Tech Company Chart of Accounts Account Naccount Name

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BIDA-TECH COMPANY

Chart of Accounts

Account NAccount Name


100 Cash
105 Accounts Receivable
105-A Allowance for Bad Debts
109 Subscriptions Receivable
110 Merchandise Inventory
115 Prepaid Insurance
116-A Prepaid Income Tax
116-B Deferred Input Tax
117 Office Supplies
118 Store Supplies
119 Prepaid Advertising Expense
120 Rent Deposit
140 Office Furniture and Fixtures
140-A Accum. Depreciation-Off. Furn. & Fixtures
141 Store Furniture and Fixtures
141-A Accum. Depreciation-Store Furn. & Fixtures
145 Office Equipment
145-A Accum. Depreciation-Office Equipment
150 Store Equipment
150-A Accum. Depreciation-Store Equipment
200 Accounts Payable
201 Salaries Payable
202 Accrued Expenses
203 Interest Payable
207 SSS Premium Payable
208 Philhealth Premium Payable
209 PAGIBIG Premium Payable
210 VAT Payable
211 Income Tax Withheld
212 Withholding Tax on Compensation
213 Income Tax Payable
214 Notes Payable
300 Ordinary Share Capital
301 Subscribed Share
302 Share Premium
306 Retained Earnings
310 Income Summary
400 Sales
401 Sales Returns and Allowances
402 Sales Discounts
403 Output Tax
500 Purchases
501 Purchases Returns and Allowances
502 Purchases Discounts
504 Freight In
505 Input Tax
600 Salaries Expense
601 SSS Employer Share Expense
602 PhilHealth Employer Share Expense
603 PAGIBIG Employer Share Expense
604 Rent Expense
605 Insurance Expense
606 Office Supplies Expense
607 Store Supplies Expense
608 Depreciation Expense-Office Furn. & Fixtures
609 Depreciation Expense-Store Furn. & Fixtures
610 Depreciation Expense-Office Equipment
611 Depreciation Expense-Store Equipment
612 Advertising Expense
613 Utilities Expense
614 Interest Expense
615 Taxes and Licenses
616 Bad Debts Expense
617 Income Tax Expense
Date Account Titles and Explanations PR Debit
12/8/2020 Accounts Payable- Samsung 200 22,400.00
Purchase Return and Allowance 501
Input Tax 505
to record the return of defective goods to the supplier

12/13/2020 Sales Return and Allowance 401 25,000.00


Output Tax 403 3,000.00
Accounts Receivable-I-Bank
to record the return of defective goods by customers

12/20/2020 Subscription Receivable 209 165,000.00


Subscribed Share 301
Share Premium 302
Subscription of Ordinary Share Capital

12/29/2020 Accounts Payable- Avery Computers 200 16,800.00


Purchase Return and Allowance 501
Input Tax 505
to record the return of defective goods to the supplier

12/31/2020 Utilities Expense 613 10,500.00


Accrued Expense 202
to record accrual of utilities
Credit

20,000.00
2,400.00

28,000.00

150,000.00
15,000.00

15,000.00
1,800.00

10,500.00
Debits Credit
Voucher
Date Inv. No. Name of Creditor Accounts
No. Purchases Input Tax
Payable
12/3/2020 No. 0987 E-Trading 1865 400,000.00 48,000.00 448,000.00
No. 10812 Samsung 1866 350,000.00 42,000.00 392,000.00
12/9/2020 No. 3546 Arenas Trading 1867 450,000.00 54,000.00 504,000.00
12/22/2020 No. 1234 Avery Computers 1868 450,000.00 54,000.00 504,000.00
12/30/2020 No. 11098 Samsung 270,000.00 32,400.00 302,400.00

12/31/2020 Total 1,920,000.00 230,400.00 2,150,400.00


Debits Credit
Sales
Date Name of Customer Accounts
Invoice Output Tax Sales
Receivable
12/1/2020 No. 0068 Brandon 268,800.00 28,800.00 240,000.00
12/3/2020 No. 0069 UA 168,000.00 18,000.00 150,000.00
12/5/2020 No. 0070 St. Anne Academy 560,000.00 60,000.00 500,000.00
12/11/2020 No. 0071 I-Bank 280,000.00 30,000.00 250,000.00
12/26/2020 No. 0073 St. Anne Academy 218,400.00 23,400.00 195,000.00
- -
12/31/2020 Total 1,495,200.00 160,200.00 1,335,000.00
Debits
Voucher
Date Chk. No. Payee/Description PR
No. Accounts Payable

12/4/2020 No. 0133 LBC

12/6/2020 No. 0134 LBC

12/8/2020 No. 0135 Avery Computers 145,600.00


12/9/2020 No. 0136 Filing and Payment of 1601E
12/9/2020 No. 0137 Filing and Payment of 1601C
12/9/2020 No. 0138 Remittance of SSS Contribution
12/9/2020 No. 0139 Remittance of Philhealth Contribution
12/9/2020 No. 0140 Remittance of PAG-IBIG Contribution
12/10/2020 No. 0141 LBC

12/12/2020 No. 0142 E-Trading 448,000.00


12/12/2020 No. 0143 Samsung 369,600.00
12/15/2020 No. 0144 Payement of Salaries

12/17/2020 No. 0145 Refund of Defective Goods

12/18/2020 No. 0146 Arenas Trading 504,000.00


12/19/2020 No. 0147 BIR- VAT Payable
12/23/2020 No. 0148 Relkin Enterprise

12/23/2020 No. 0149


12/27/2020 No. 0150 Good Luck

12/30/2020 No. 0151 Payment of Salaries

12/30/2020 No. 0152 Payment of Rent

12/31/2020 Total 1,467,200.00


Credit Other Accounts
Purchase Income Tax
Input Tax Cash Debit Credit PR
Discount Withheld
6,720.00 Freight In
Input Tax
7,840.00 Freight In
Input Tax
3,900.00 1,261.00 140,439.00
14,950.00 Income Tax Withheld
1,666.80 Withholding Tax on Compensation
12,780.00 SSS Premiums Payable
3,480.00 Philhealth Premiums Payable
1,200.00 PAGIBIG Premiums Payable
4,480.00 Freight In
Input Tax
12,000.00 3,880.00 432,120.00
9,900.00 3,201.00 356,499.00
55,800.00 Salaries Expense
SSS Premiums Payable
16,800.00 Sales Return and Allowances
Output Tax
13,500.00 4,365.00 486,135.00
58,338.00 VAT Payable
33,600.00 Store Supplies
Input Tax
116,000.00 Salaries Expense
39,200.00 Office Supplies
Input Tax
55,506.20 Salaries Expense
PAGIBIG Premiums Payable
Philhealth Premiums Payable
Withholding Tax on Compensation
3,750.00 80,250.00 Rent Expense
Input Tax

39,300.00 - 16,457.00 1,923,804.00


Amount

Debit Credit

6,000.00
720.00
7,000.00
840.00

14,950.00
1,666.80
12,780.00
3,480.00
1,200.00
4,000.00
480.00

60,000.00
4,200.00
15,000.00
1,800.00

58,338.00
30,000.00
3,600.00
116,000.00
35,000.00 President Vice Pres Total
4,200.00 Basic Pay 28,000.00 23,000.00 51,000.00
60,000.00 Fixed Allowance 2,000.00 2,000.00 4,000.00
600.00 Total Compensation 30,000.00 25,000.00 55,000.00
1,740.00 Less: Nontaxable Compensation
2,153.80 SSS Contribution 800.00 800.00 1,600.00
75,000.00 Philhealth Contribution 420.00 345.00 765.00
9,000.00 PAGIBIG Contribution 100.00 100.00 200.00
Taxable Compensation 28,680.00 23,755.00 52,435.00
Less: Lower Limit 20,833.00 20,833.00 41,666.00
7,847.00 2,922.00 10,769.00
Withholding Tax Rate 20% 20% 20%
Withholding Tax on Compensation 1,569.40 584.40 2,153.80
Debits
Date OR No. Payor/Description PR
Cash

12/3/2020 No. 0078 Ola Trading 228,942.00


12/11/2020 No. 0079 Brandon 261,648.00
12/12/2020 No. 0080 UA 163,530.00
12/13/2020 No. 0081 Sold Merchandise for Cash 50,400.00
12/14/2020 No. 0082 St. Anne Academy 277,500.00
12/17/2020 No. 0083 Sold Merchandise for Cash 201,600.00
12/20/2020 No. 0084 St. Anne Academy 277,500.00
12/20/2020 No. 0085 Sold Merchandise for Cash 392,000.00
12/20/2020 No. 0086 Downpayment for Ordinary Share Subscriptions 82,500.00
12/23/2020 No. 0087 I-Bank 99,900.00
12/29/2020 No. 0088 Sold Merchandise for Cash 201,600.00

12/31/2020 Totals 2,237,120.00


Debits Credit
Output Sales Prepaid Account
Output Tax Sales
Tax Discount Income Tax Receivable
4,200.00 2,058.00 235,200.00
4,800.00 2,352.00 268,800.00
3,000.00 1,470.00 168,000.00
5,400.00 45,000.00
2,500.00 280,000.00
21,600.00 180,000.00
2,500.00 280,000.00
42,000.00 350,000.00

900.00 100,800.00
21,600.00 180,000.00

- 12,000.00 11,780.00 1,332,800.00 90,600.00 755,000.00


Credit
Other accounts PR Amount

Subscription Receivable 82,500.00


Date Account Titles and Explanations PR Debit Credit
Account: Ola Trading
Balance
Date Item Ref Debit Credit
Debit
11/25/2020 Sales SJ 1 235,200.00 235,200.00
3/12/2020 Collection CRJ1 235,200.00 -

Account: Brandon
Date Item Ref Debit Credit Balance
12/1/2020 Sales SJ 1 268,800.00 268,800.00
12/11/2020 Collection CRJ1 268,800.00 -

Account: UA
Date Item Ref Debit Credit Balance
12/3/2020 Sales SJ 1 168,000.00 168,000.00
12/12/2020 Collection CRJ1 168,000.00 -

Account: St. Anne Academy


Date Item Ref Debit Credit Balance
12/5/2020 Sales SJ 1 560,000.00 560,000.00
12/14/2020 Collection CRJ1 280,000.00 280,000.00
12/20/2020 Collection CRJ1 280,000.00 -
12/26/2020 Sales SJ 1 218,400.00 218,400.00

Account: I-Bank
Date Item Ref Debit Credit Balance
12/11/2020 Sales SJ1 280,000.00 280,000.00
12/13/2020 Sales Return GJ1 28,000.00 252,000.00
12/23/2020 Collection CRJ1 100,800.00 151,200.00
Account: Avery Computers
Date Item Ref. Debit Credit Balance
11/29/2020 Purchases PJ 1 145,600.00 145,600.00
12/8/2020 Payment CDJ1 145,600.00 -
12/22/2020 Purchases PJ 1 504,000.00 504,000.00
12/29/2020 Purchase Return GJ 1 16,800.00 487,200.00

Account: E-Trading
Date Item Ref. Debit Credit Balance
12/3/2020 Purchases PJ 1 448,000.00 448,000.00
12/12/2020 Payment CDJ1 448,000.00 -

Account: Samsung
Date Item Ref. Debit Credit Balance
12/3/2020 Purchases PJ 1 392,000.00 392,000.00
12/8/2020 Purchase Return GJ 1 22,400.00 369,600.00
12/12/2020 Payment CDJ 1 369,600.00 -
12/30/2020 Purchases PJ1 302,400.00 302,400.00

Account: Arenas Trading


Date Item Ref. Debit Credit Balance
12/9/2020 Purchases PJ 1 504,000.00 504,000.00
12/18/2020 Payment CDJ 1 504,000.00 -
BIDA-TECH Company
Schedule of Accounts Receivable
31-Dec-20

St. Anne Academy ₱218,400.00


I-Bank 151,200.00
Total ₱369,600.00

BIDA-TECH Company
Schedule of Accounts Payable
31-Dec-20

Avery Computers ₱487,200.00


Samsung 302,400.00
Total ₱789,600.00
GENERAL LEDGER
BALANCE SHEET ACCOUNTS

Account Name: Cash No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 1,352,670.80 1,352,670.80
12/3/2020 Ola Trading CRJ 1 228,942.00 1,581,612.80
12/4/2020 LBC CDJ 1 6,720.00 1,574,892.80
12/6/2020 LBC CDJ 1 7,840.00 1,567,052.80
12/8/2020 Avery Computers CDJ 1 140,439.00 1,426,613.80
12/9/2020 Filing and Payment of 1601E CDJ 1 14,950.00 1,411,663.80
12/9/2020 Filing and Payment of 1601C CDJ 1 1,666.80 1,409,997.00
12/9/2020 Remittance CDJ 1 12,780.00 1,397,217.00
12/9/2020 Remittance CDJ 1 3,480.00 1,393,737.00
12/9/2020 Remittance CDJ 1 1,200.00 1,392,537.00
12/10/2020 LBC CDJ 1 4,480.00 1,388,057.00
12/11/2020 Brandon CRJ 1 261,648.00 1,649,705.00
12/12/2020 UA CRJ 1 163,530.00 1,813,235.00
12/12/2020 E-Trading CDJ 1 432,120.00 1,381,115.00
12/12/2020 Samsung CDJ 1 356,499.00 1,024,616.00
12/13/2020 Sold Merchandise for Cash CRJ 1 50,400.00 1,075,016.00
12/14/2020 St. Anne Academy CRJ 1 277,500.00 1,352,516.00
12/15/2020 Payment of Salaries CDJ 1 55,800.00 1,296,716.00
12/17/2020 Refund of Defective Goods CDJ 1 16,800.00 1,279,916.00
12/17/2020 Sold Merchandise for Cash CRJ 1 201,600.00 1,481,516.00
12/18/2020 Arenas Trading CDJ 1 486,135.00 995,381.00
12/19/2020 BIR- VAT Payable CDJ 1 58,338.00 937,043.00
12/20/2020 St. Anne Academy CRJ 1 277,500.00 1,214,543.00
12/20/2020 Sold Merchandise for Cash CRJ 1 392,000.00 1,606,543.00
12/20/2020 Downpayment for Subscriptions CRJ 1 82,500.00 1,689,043.00
12/23/2020 Relkin Enterprise CDJ 1 33,600.00 1,655,443.00
12/23/2020 I-Bank CRJ 1 99,900.00 1,755,343.00
12/23/2020 Payment of 13th Month Pay CDJ 1 116,000.00 1,639,343.00
12/27/2020 Good Luck CDJ 1 39,200.00 1,600,143.00
12/29/2020 Sold Merchandise for Cash CRJ 1 201,600.00 1,801,743.00
12/30/2020 Payment of Salaries CDJ 1 55,506.20 1,746,236.80
12/30/2020 Payment of Rent CDJ 1 80,250.00 1,665,986.80

Account Name: Accounts Receivable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 235,200.00 235,200.00
12/1/2020 Brandon SJ1 268,800.00 504,000.00
12/3/2020 UA SJ1 168,000.00 672,000.00
12/3/2020 Ola Trading CRJ 1 235,200.00 436,800.00
12/5/2020 St. Anne Academy SJ1 560,000.00 996,800.00
12/11/2020 I-Bank SJ1 280,000.00 1,276,800.00
12/11/2020 Brandon CRJ 1 268,800.00 1,008,000.00
12/12/2020 UA CRJ 1 168,000.00 840,000.00
12/13/2020 I-Bank GJ 1 28,000.00 812,000.00
12/14/2020 St. Anne Academy CRJ 1 280,000.00 532,000.00
12/20/2020 St. Anne Academy CRJ 1 280,000.00 252,000.00
12/23/2020 I-Bank CRJ 1 100,800.00 151,200.00
12/26/2020 St. Anne Academy SJ1 218,400.00 369,600.00

Account Name: Allowance for Bad Debts No.


Post Balance
Date Item Ref. Debit Credit Debit

Account Name: Subscriptions Receivable No.


Post Balance
Date Item Ref. Debit Credit Debit
12/20/2020 Ordinary Share Caputal GJ1 165,000.00 165,000.00
12/20/2020 Downpayment for Subscription CRJ1 82,500.00 82,500.00

Account Name: Merchandise Inventory No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 600,000.00 600,000.00
Account Name: Prepaid Insurance No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 240,000.00 240,000.00

Account Name: Prepaid Income Tax No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 11,200.00 11,200.00
12/3/2020 Ola Trading CRJ 1 2,058.00 13,258.00
12/11/2020 Brandon CRJ 1 2,352.00 15,610.00
12/12/2020 UA CRJ 1 1,470.00 17,080.00
12/14/2020 St. Anne Academy CRJ 1 2,500.00 19,580.00
12/20/2020 St. Anne Academy CRJ 1 2,500.00 22,080.00
12/23/2020 I-Bank CRJ 1 900.00 22,980.00

Account Name: Deferred Income Tax No.


Post Balance
Date Item Ref. Debit Credit Debit
Account Name: Office Supplies No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 145,600.00 145,600.00
11/27/2020 Good Luck CDJ 1 35,000.00 180,600.00

Account Name: Store Supplies No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 123,200.00 123,200.00
12/23/2020 Relkin Enterprise CDJ 1 30,000.00 153,200.00

Account Name: Rent Deposit No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 450,000.00 450,000.00
Account Name: Office Furnitures and Fixtures No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 200,000.00 200,000.00

Account Name: Accum. Depreciation-Off. Furn. & FixtureNo.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Store Furnitures and Fixtures No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 250,000.00 250,000.00

Account Name: Accum. Depreciation- Store Furn. & FixtuNo.


Post Balance
Date Item Ref. Debit Credit
Post
Date Item Ref. Debit Credit Debit

Account Name: Office Equipment No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 300,000.00 300,000.00

Account Name: Accum. Depreciation-Office Equipment No.


Post Balance
Date Item Ref. Debit Credit Debit

Account Name: Store Equipment No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 480,000.00 480,000.00
Account Name: Accum. Depreciation-Store Equipment No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Accounts Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 145,600.00
12/3/2020 E-Trading PJ 1 448,000.00
12/3/2020 Samsung PJ 1 392,000.00
12/8/2020 Avery Computers CDJ 1 145,600.00
12/8/2020 Samsung GJ 1 22,400.00
12/9/2020 Arenas Trading PJ 1 504,000.00
12/12/2020 E-Trading CDJ 1 448,000.00
12/12/2020 Samsung CDJ 1 369,600.00
12/18/2020 Arenas Trading CDJ 1 504,000.00
12/22/2020 Avery Computers PJ 1 504,000.00
12/29/2020 Avery Computers GJ1 16,800.00
12/30/2020 Samsung PJ 1 302,400.00

Account Name: Accrued Expense No.


Post Balance
Date Item Ref. Debit Credit
Post
Date Item Ref. Debit Credit Debit
12/31/2020 Utilities GJ1 10,500.00

Account Name: Interest Payable No.


Post Balance
Date Item Ref. Debit Credit Debit

Account Name: SSS Premium Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 12,780.00
12/9/2020 Remittance CDJ 1 12,780.00
12/15/2020 Payment of Salaries CDJ 1 4,200.00

Account Name: Philhealth Premium Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 3,480.00
12/9/2020 Remittance CDJ 1 3,480.00
12/30/2020 Payment of Salaries CDJ 1 1,740.00

Account Name: PAGIBIG Premium Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 1,200.00
12/9/2020 Remittance CDJ 1 1,200.00
12/30/2020 Payment of Salaries CDJ 1 600.00

Account Name: VAT Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 58,338.00
12/19/2020 BIR-Vat Payable CDJ 1 58,338.00

Account Name: Income Tax Withheld No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 14,950.00
12/8/2020 Avery Computers CDJ 1 1,261.00
12/9/2020 Remittance CDJ 1 14,950.00
12/12/2020 E-Trading CDJ 1 3,880.00
12/12/2020 Samsung CDJ 1 3,201.00
12/18/2020 Arenas Trading CDJ 1 4,365.00
12/30/2020 Payment of Rent CDJ 1 3,750.00

Account Name: Withholding Tax on Compensation No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 1,666.80
12/9/2020 Remittance CDJ 1 1,666.80
12/30/2020 Payment of Salaries CDJ 1 2,153.80

Account Name: Income Tax Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Notes Payable No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 400,000.00
Account Name: Ordinary Share Capital No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 3,000,000.00

Account Name: Subscribed Share No.


Post Balance
Date Item Ref. Debit Credit Debit
12/20/2020 Ordinary Share Caputal GJ1 150,000.00

Account Name: Share Premium No.


Post Balance
Date Item Ref. Debit Credit Debit
12/20/2020 Ordinary Share Caputal GJ1 15,000.00
Account Name: Retained Earnings No.
Post Balance
Date Item Ref. Debit Credit Debit

GENERAL LEDGER
INCOME STATEMENT ACCOUNT

Account Name: Income Summary No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Sales No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 9,400,000.00
12/1/2020 Brandon SJ1 240,000.00
12/3/2020 UA SJ1 150,000.00
12/5/2020 St. Anne Academy SJ1 500,000.00
12/11/2020 I-Bank SJ1 250,000.00
12/13/2020 Sold Merchandise for Cash CRJ1 45,000.00
12/17/2020 Sold Merchandise for Cash CRJ1 180,000.00
12/20/2020 Sold Merchandise for Cash CRJ1 350,000.00
12/26/2020 St. Anne Academy SJ1 195,000.00
12/29/2020 Sold Merchandise for Cash CRJ1 180,000.00
Account Name: Sales Return And Allowances No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 65,000.00 65,000.00
12/13/2020 I-Bank GJ 1 25,000.00 90,000.00
12/17/2020 Refund of Defective Goods CDJ 1 15,000.00 105,000.00

Account Name: Sales Discount No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 38,024.00 38,024.00
12/3/2020 Ola Trading CRJ 1 4,200.00 42,224.00
12/11/2020 Brandon CRJ 1 4,800.00 47,024.00
12/12/2020 UA CRJ 1 3,000.00 50,024.00

Account Name: Output Tax No.


Post Balance
Date Item Ref. Debit Credit Debit
12/1/2020 Brandon SJ1 28,800.00
12/3/2020 UA SJ1 18,000.00
12/5/2020 St. Anne Academy SJ1 60,000.00
12/11/2020 I-Bank SJ1 30,000.00
12/13/2020 I-Bank GJ 1 3,000.00
12/13/2020 Merchandise sold for Cash CRJ1 5,400.00
12/17/2020 Merchandise sold for Cash CRJ1 21,600.00
12/17/2020 Return of Defective Goods CDJ 1 1,800.00
12/20/2020 Merchandise sold for Cash CRJ1 42,000.00
12/26/2020 St. Anne Academy SJ1 23,400.00
12/29/2020 Merchandise sold for Cash CRJ1 21,600.00
Account Name: Purchases No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 5,950,000.00 5,950,000.00
12/3/2020 E-Trading PJ 1 400,000.00 6,350,000.00
12/3/2020 Samsung PJ 1 350,000.00 6,700,000.00
12/9/2020 Arenas Trading PJ 1 450,000.00 7,150,000.00
12/22/2020 Avery Computers PJ 1 450,000.00 7,600,000.00
12/30/2020 Samsung PJ 1 270,000.00 7,870,000.00

Account Name: Purchase Return and Allowance No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 12,000.00
12/8/2020 Samsung GJ 1 20,000.00
12/29/2020 Avery Computers GJ1 15,000.00

Account Name: Purchase Discounts No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 36,000.00
12/8/2020 Avery Computers CDJ 1 3,900.00
12/12/2020 E-Trading CDJ 1 12,000.00
12/12/2020 Samsung CDJ 1 9,900.00
12/18/2020 Arenas Trading CDJ 1 13,500.00
Account Name: Freight In No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 68,000.00 68,000.00
12/4/2020 LBC CDJ 1 6,000.00 74,000.00
12/6/2020 LBC CDJ 1 7,000.00 81,000.00
12/10/2020 LBC CDJ 1 4,000.00 85,000.00

Account Name: Input Tax No.


Post Balance
Date Item Ref. Debit Credit Debit
12/3/2020 E-Trading PJ 1 48,000.00 48,000.00
12/3/2020 Samsung PJ 1 42,000.00 90,000.00
12/4/2020 LBC CDJ 1 720.00 90,720.00
12/6/2020 LBC CDJ 1 840.00 91,560.00
12/8/2020 Samsung GJ 1 2,400.00 89,160.00
12/9/2020 Arenas Trading PJ 1 54,000.00 143,160.00
12/10/2020 LBC CDJ 1 480.00 143,640.00
12/22/2020 Avery Computers PJ 1 54,000.00 197,640.00
12/23/2020 Relkin Enterprise CDJ 1 3,600.00 201,240.00
12/27/2020 Good Luck CDJ 1 4,200.00 205,440.00
12/29/2020 Avery Computers GJ1 1,800.00 203,640.00
12/30/2020 Samsung PJ 1 32,400.00 236,040.00
12/30/2020 Payment of Rent CDJ 1 9,000.00 245,040.00

Account Name: Salaries Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 1,320,000.00 1,320,000.00
12/15/2020 Payment of Salaries CDJ 1 60,000.00 1,380,000.00
12/23/2020 Payment of 13th Month Pay 116,000.00 1,496,000.00
12/30/2020 Payment of Salaries CDJ 1 60,000.00 1,556,000.00
Account Name: SSS Employer Share Expense No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 94,380.00 94,380.00

Account Name: Philhealth Employer Share Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 19,140.00 19,140.00

Account Name: PAGIBIG Employer Share Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 6,600.00 6,600.00
Account Name: Rent Expense No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 825,000.00 825,000.00
12/30/2020 Payment of Rent CDJ 1 75,000.00 900,000.00

Account Name: Insurance Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Office Supplies Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Store Supplies Expense No.


Post Balance
Date Item Ref. Debit Credit
Post
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Depreciation Expense-Office Furn & FixtuNo.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Depreciation Expense- Store Furn. & Fixt No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Depreciation Expense-Office Equipment No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance
Account Name: Depreciation Expense-Store Equipment No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Advertising Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 150,000.00 150,000.00

Account Name: Utilities Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 110,000.00 110,000.00
12/31/2020 Utilities GJ1 10,500.00 120,500.00
Account Name: Interest Expense No.
Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance

Account Name: Taxes and Licenses No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance 52,000.00 52,000.00

Account Name: Bad Debt Expense No.


Post Balance
Date Item Ref. Debit Credit Debit
11/30/2020 Beginning Balance
Account Name: Income Tax Expense No.
Post Balance
Date Item Ref. Debit Credit Debit
100
Balance
Credit

105
Balance
Credit
150-A
Balance
Credit

109
Balance
Credit

110
Balance
Credit
115
Balance
Credit

116-A
Balance
Credit

116-B
Balance
Credit
117
Balance
Credit

118
Balance
Credit

120
Balance
Credit
140
Balance
Credit

140-A
Balance
Credit

141
Balance
Credit

141-A
Balance
Credit

145
Balance
Credit

145-A
Balance
Credit

150
Balance
Credit
150-A
Balance
Credit

200
Balance
Credit
145,600.00
593,600.00
985,600.00
840,000.00
817,600.00
1,321,600.00
873,600.00
504,000.00
-
504,000.00
487,200.00
789,600.00

202
Balance
Credit
10,500.00

203
Balance
Credit

207
Balance
Credit
12,780.00
-
4,200.00

208
Balance
Credit
3,480.00
-
1,740.00

209
Balance
Credit
1,200.00
-
600.00

210
Balance
Credit
58,338.00
-

211
Balance
Credit
14,950.00
16,211.00
1,261.00
5,141.00
8,342.00
12,707.00
16,457.00

212
Balance
Credit
1,666.80
-
2,153.80

213
Balance
Credit

214
Balance
Credit
400,000.00
300
Balance
Credit
3,000,000.00

301
Balance
Credit
150,000.00

302
Balance
Credit
15,000.00
306
Balance
Credit

310
Balance
Credit

400
Balance
Credit
9,400,000.00
9,640,000.00
9,790,000.00
10,290,000.00
10,540,000.00
10,585,000.00
10,765,000.00
11,115,000.00
11,310,000.00
11,490,000.00
401
Balance
Credit

402
Balance
Credit

403
Balance
Credit
28,800.00
46,800.00
106,800.00
136,800.00
133,800.00
139,200.00
160,800.00
159,000.00
201,000.00
224,400.00
246,000.00
500
Balance
Credit

501
Balance
Credit
12,000.00
32,000.00
47,000.00

502
Balance
Credit
36,000.00
39,900.00
51,900.00
61,800.00
75,300.00
504
Balance
Credit

505
Balance
Credit

600
Balance
Credit
601
Balance
Credit

602
Balance
Credit

603
Balance
Credit
604
Balance
Credit

605
Balance
Credit

606
Balance
Credit

607
Balance
Credit

608
Balance
Credit

609
Balance
Credit

610
Balance
Credit
611
Balance
Credit

612
Balance
Credit

613
Balance
Credit
614
Balance
Credit

615
Balance
Credit

616
Balance
Credit
617
Balance
Credit
Account Unadjusted Trial Balance Ad
No. Account Name Debit Credit Debit
100 Cash 1,665,986.80
105 Accounts Receivable 369,600.00
105-A Allowance for Bad Debts
109 Subscriptions Receivable 82,500.00
110 Merchandise Inventory 600,000.00 h.)
115 Prepaid Insurance 240,000.00
116-A Prepaid Income Tax 22,980.00
117 Office Supplies 180,600.00
118 Store Supplies 153,200.00
119 Prepaid Advertising Expense f.)
120 Rent Deposit 450,000.00
140 Office Furniture and Fixtures 200,000.00
140-A Accum. Depreciation-Off. Furn. & Fixtures
141 Store Furniture and Fixtures 250,000.00
141-A Accum. Depreciation-Store Furn. & Fixtures
145 Office Equipment 300,000.00
145-A Accum. Depreciation-Office Equipment
150 Store Equipment 480,000.00
150-A Accum. Depreciation-Store Equipment
200 Accounts Payable 789,600.00
202 Accrued Expenses 10,500.00
203 Interest Payable
207 SSS Premium Payable 4,200.00
208 Philhealth Premium Payable 1,740.00
209 PAGIBIG Premium Payable 600.00
210 VAT Payable
211 Income Tax Withheld 16,457.00
212 Withholding Tax on Compensation 2,153.80
214 Notes Payable 400,000.00
300 Ordinary Share Capital 3,000,000.00
301 Subscribed Share 150,000.00
302 Share Premium 15,000.00
306 Retained Earnings
310 Income Summary h.)
400 Sales 11,490,000.00
401 Sales Returns and Allowances 105,000.00
402 Sales Discounts 50,024.00
403 Output Tax 246,000.00 j.)
500 Purchases 7,870,000.00
501 Purchases Returns and Allowances 47,000.00
502 Purchases Discounts 75,300.00
504 Freight In 85,000.00
505 Input Tax 245,040.00
600 Salaries Expense 1,556,000.00
601 SSS Employer Share Expense 94,380.00 i.)
602 PhilHealth Employer Share Expense 19,140.00 i.)
603 PAGIBIG Employer Share Expense 6,600.00 i.)
604 Rent Expense 900,000.00
605 Insurance Expense d.)
606 Office Supplies Expense b.)
607 Store Supplies Expense c.)
608 Depreciation Expense-Office Furn. & Fixtures e.)
609 Depreciation Expense-Store Furn. & Fixtures e.)
610 Depreciation Expense-Office Equipment e.)
611 Depreciation Expense-Store Equipment e.)
612 Advertising Expense 150,000.00
613 Utilities Expense 120,500.00
614 Interest Expense g.)
615 Taxes and Licenses 52,000.00
616 Bad Debts Expense a.)
617 Income Tax Expense
TOTALS ₱16,248,550.80 ₱16,248,550.80

Net Income

ADJUS

a.) Bad Debt Expense

b.) Office Supplies Exp

c.) Store Supplies Expe

d.) Insurance Expense

Depreciation E
e.) F

Depreciation Expe
Depreciation Exp

Depreciation Exp

f.) Prepaid Advertising

g.) Interest Expense

h.) Income Summary

Merchandise Inven

i.) SSS Employer Share


Philhealth Employe
PAGIBIG Employer

j.) Output Tax


Adjustment Adjusted Trial Balance Income Statement
Debit Credit Debit Credit Debit
1,665,986.80
369,600.00
a.) 18,480.00 18,480.00
82,500.00
880,000.00 h.) 600,000.00 880,000.00
d.) 120,000.00 120,000.00
22,980.00
b.) 144,480.00 36,120.00
c.) 107,240.00 45,960.00
50,000.00 50,000.00
450,000.00
200,000.00
e.) 40,000.00 40,000.00
250,000.00
e.) 50,000.00 50,000.00
300,000.00
e.) 30,000.00 30,000.00
480,000.00
e.) 48,000.00 48,000.00
789,600.00
10,500.00
g.) 16,000.00 16,000.00
i.) 8,580.00 12,780.00
i.) 1,740.00 3,480.00
i.) 600.00 1,200.00
j.) 960.00 960.00
16,457.00
2,153.80
400,000.00
3,000,000.00
150,000.00
15,000.00

600,000.00 h.) 880,000.00 280,000.00


11,490,000.00
105,000.00 105,000.00
50,024.00 50,024.00
246,000.00
7,870,000.00 7,870,000.00
47,000.00
75,300.00
85,000.00 85,000.00
j.) 245,040.00
1,556,000.00 1,556,000.00
8,580.00 102,960.00 102,960.00
1,740.00 20,880.00 20,880.00
600.00 7,200.00 7,200.00
900,000.00 900,000.00
120,000.00 120,000.00 120,000.00
144,480.00 144,480.00 144,480.00
107,240.00 107,240.00 107,240.00
40,000.00 40,000.00 40,000.00
50,000.00 50,000.00 50,000.00
30,000.00 30,000.00 30,000.00
48,000.00 48,000.00 48,000.00
f.) 50,000.00 100,000.00 100,000.00
120,500.00 120,500.00
16,000.00 16,000.00 16,000.00
52,000.00 52,000.00
18,480.00 18,480.00 18,480.00
-
₱2,361,120.00 ₱2,361,120.00 ₱16,496,910.80 ₱16,496,910.80 ₱11,543,764.00

TOTALS

ADJUSTING ENTRIES

Bad Debt Expense 18,480.00


Allowance for Bad Debts 18,480.00

Office Supplies Expense 144,480.00


Office Supplies 144,480.00

Store Supplies Expense 107,240.00


Store Supplies 107,240.00

Insurance Expense 120,000.00


Prepaid Insurance 120,000.00

Depreciation Expense-Office Furn. &


Fixtures 40,000.00
Accum. Depreciation- Office Furn. &
Fixtures 40,000.00

Depreciation Expense-Store Furn. & Fixtures


50,000.00
Accum. Depreciation- Store Furn. &
Fixtures 50,000.00
Depreciation Expense-Office Equipment
30,000.00
Accum. Depreciation- Office
Equipment 30,000.00

Depreciation Expense-Store Equipment


48,000.00

Accum. Depreciation- Store Equipment 48,000.00

Prepaid Advertising Expense 50,000.00


Advertising Expense 50,000.00

Interest Expense 16,000.00


Interest Payable 16,000.00

Income Summary 600,000.00


Merchandise Inventory 600,000.00

Merchandise Inventory 880,000.00


Income Summary 880,000.00

SSS Employer Share Expense 8,580.00


Philhealth Employer Share Expense 1,740.00
PAGIBIG Employer Share Expense 600.00
SSS Premium Payable 8,580.00
Philhealth Premium Payable 1,740.00
PAGIBIG Premium Payable 600.00

Output Tax 246,000.00


Input Tax 245,040.00
Vat Payable 960.00
Income Statement Balance Sheet
Credit Debit Credit
1,665,986.80
369,600.00
18,480.00
82,500.00
880,000.00
120,000.00
22,980.00
36,120.00
45,960.00
50,000.00
450,000.00
200,000.00
40,000.00
250,000.00
50,000.00
300,000.00
30,000.00
480,000.00
48,000.00
789,600.00
10,500.00
16,000.00
12,780.00
3,480.00
1,200.00
960.00
16,457.00
2,153.80
400,000.00
3,000,000.00
150,000.00
15,000.00

280,000.00
11,490,000.00

47,000.00
75,300.00
₱11,892,300.00 ₱4,953,146.80 ₱4,604,610.80
₱11,543,764.00
₱348,536.00 ₱348,536.00
₱4,953,146.80 ₱4,953,146.80

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