SALES JOURNAL

Invoice Dr. Accounts Receivable Dr. Cost of Goods Sold

Date Account Debited Ref
No.
Cr. Sales Revenue Cr. Inventory
7 Aurora Company P41, 250 P18, 750
18 Audrey Company P5, 500 P2, 500
24 Joel Company P3, 960 P1, 800
 PURCHASES JOURNAL
Dr. Inventory
Date Account Debited Terms Ref
Cr. Accounts Payable
4 Jude Corp. 2/10, n/30 P25, 000
23 Plusminus Corp. 30 days P3, 000
 CASH RECEIPTS JOURNAL
Dr. Sales Cr. Sales Cr. Accounts Dr. Cost of Goods Sold
Date Account Credited Ref Dr. Cash Cr. Other Accounts
Discount Revenue Receivable Cr. Inventory
1 P200, 000 Dy Capital P200, 000
16 Aurora Company P40, 425 P825 P41, 250
22 Happy Company P22, 000 P22, 000 P10, 000
 CASH DISBURSEMENT JOURNAL
Other Account
Date Chk. No Account Debited Ref Accounts Payable Dr. Inventory Dr. Cash Cr.
Dr.
1 Computershop Inc. Office Equipment P45, 000 P45, 000
2 Prepaid Expense P30, 000 P30, 000
8 Jude Corp. P25, 000 P500 P24, 500
15 Salaries Expense P7, 000 P7, 000
19 Mickey Incorp. P25, 000 P25, 000
25 Utilities Expense P7, 400 P7, 400
31 Dy Drawings P10, 000 P10, 000
 GENERAL JOURNAL
Date Account Number Account Title and Explanation Ref Debit Credit
26 4101 Sales Return and Allowances P1, 320
1300 Inventory 600
1200 Accounts Receivable P1, 320
5100 Cost of Sales 600
Received 2 defective calculators from
Joel Company
 GL Account - < Cash > Acount Number: 1000 GL Account < Inventory > Account Number: 1300
Date Debit Credit Date Date Debit Credit Date
1 P200, 000 P45, 000 1 4 P25, 000 P18, 750 7
16 40, 425 30, 000 2 19 25, 000 500 8
22 22, 000 24, 500 8 23 3, 000 2, 500 18
P262, 425 7,000 15 31 600 10, 000 22
25, 000 19 P53, 600 1, 800 24
7, 400 25 P 33, 550
10, 000 31 Balance: P 20, 050
P148, 900
Balance: P113, 525

GL Account < Accounts Receivable> Account Number: 1200 GL Account < Office Equipment> Account Number: 1600
Date Debit Credit Date Date Debit Credit Date
7 P41, 250 41, 250 16 1 P 45, 000
18 5, 500 1, 320 26 P 45, 000
24 3, 960 P42, 570
P50, 710 Balance: P 45, 000

Balance: P8, 140

Gl Account < Prepaid Expense> Account Number: 1400 GL Account < Account Payable> Account Number: 2000
Date Debit Credit Date Date Debit Credit Date
2 P30, 000 8 P 25, 000 P 25, 000 4
P30, 000 P 25, 000 3, 000 23
P 28,000
Balance: P 3, 000
Balance: P30, 000
 GL Account < Dy, Capital> Account Number: 3100 GL Account < Sales Return and Allowances> Account Number: 4101
Date Debit Credit Date Date Debit Credit Date
P 200, 000 1 26 P 1,320
P 200, 000 P 1,320
Balance: P 200, 000
Balance: P 1,320
GL Account < Dy, Drawings> Account Number: 3000
Date Debit Credit Date GL Account < Sales Discount> Account Number: 4102
31 P 10, 000 Date Debit Credit Date
P 10, 000 16 P 825
P825
Balance: P 10, 000
Balance: P 825
GL Account < Sales> Account Number: 4100
Date Debit Credit Date GL Account < Cost of Sales> Account Number: 5100
P 41, 250 7 Date Debit Credit Date
5, 500 18 7 P 18, 750 P 600 31
22, 000 22 18 2, 500 P 600
3, 960 24 22 10, 000
P 72, 710 24 1, 800
P 33, 050
Balance: P72, 710
Balance: P 32, 450
GL Account < Salaries Expense> Account Number: 6100
Date Debit Credit Date
15 P 7, 000 GL Account < Utilities Expense> Account Number: 6200
P 7, 000 Date Debit Credit Date
25 P 7, 400
Balance: P 7, 000 P7, 400

Balance: P7, 400

 Business / Bank
Date Transactions Amount Journal Journal Entry
forms toSlip
Deposit be filled up
Rachelle Dy made initial contribution to the business by Dr. Cash 200, 000
1-Jul P200, 000 Cash Receipt Journal
depositing money in the company's bank account. Official ReceiptBank Cr. Dy Capital 200, 000
Purchased laptop from Commputershop Inc. for the office Check Dr. Office Equipment 45, 000
1-Jul use. P45, 000 Check Cash Disbursement Journal
Cr. Cash 45, 000
Payment term: COD (Cash on Delivery). Voucher
Official Receipt
Bank Dr. Prepaid Expenses 30, 000
2-Jul Paid advance rental for 6 months. P30, 000 Check Cash Disbursement Journal
Cr. Cash 30,000
Received 200 reamms of bond papers (inventory) from Check Voucher
Bank
Jude Corp. Check Dr. Inventory 25, 000
4-Jul Payment terms: 2/10, P25, 000 Check Purchase Journal
Cr. Accounts Payable 25, 000
n/30. Voucher
Delivered 150 reams of bond papers to Aurora Company. Dr. Accounts Receivable 41, 250
Payment terms: Sales Invoice Dr. Cost of Sales 18, 750
7-Jul P41, 250 Sales Journal
2/10, n/20. Delivery Receipt Cr. Sales 41, 250
Cost of Merchandise was P18, 750. Cr. Inventory 18, 750
Official Receipt
Dr. Accounts Payable 25, 000
Bank
8-Jul Paid the July 4 purchases. P24, 500 Cash Disbursement Journal Cr. Cash 24, 500
Check
Cr. Inventory 500
Check Voucher
Bank Check Dr. Salaries Expense 7, 000
15-Jul Paid salary of employee. P15, 000
Check Voucher Cash Disbursement Journal Cr. Cash 7, 000
Dr. Cash 40, 425
16-Jul Received payment from the July 7 sales. P40, 425 Official Receipt Cash Receipt Journal Dr. Sales Discount 825
Cr. Accounts Receivable 41, 250
Sold 20 reams of bond papaers to Audrey Company.
Audrey picked up the merchandise from the store. Dr. Accounts Receivable 5, 500
18-Jul Payment term: 15 days. P5, 500 Sales Invoice Sales Journal Dr. Cost of Sales 2, 500
Cost of merchandise was P2, Cr. Sales 5, 500
500. Cr. Inventory 2, 500
Purchase Order
Receiving Report
Received 10 boxes of ballpoint pens from Mickey Inc. Dr. Inventory 25, 000
19-Jul P25, 000 Cash Disbursement Journal
Payment of terms: COD. Cr. Cash 25, 000
 Receiving Report
Received 10 boxes of ballpoint pens from Mickey Inc. Bank Dr. Inventory 25, 000
19-Jul P25, 000 Cash Disbursement Journal
Payment of terms: COD. Check Cr. Cash 25, 000
Check
Voucher
Over the counter sale of 4 boxes of ballpoint pends to Dr. Cash 22, 000
22-Jul Happy Company. P22, 000 Official Receipt Cash Receipt Journal Dr. Cost of Sales 10, 000
Cost of merchandise was P10, 000. Cr. Sales 22, 000
Cr. Inventory 10, 000
Purchase Order
23-Jul Received 10 calculators from Plusminus Corporation. P3, 000 Purchase Journal Dr. Inventory 3, 000
Payment term: 30 days. Receiving Report Cr. Accounts Payable 3, 000
Sold 6 calculators to Joel Company. Joel picked up the Dr. Accounts Receivable 3, 960
24-Jul merchandise from the store. P3, 960 Sales Invoice Sales Journal Dr. Cost of Sales 1, 800
Payment term: 15 days. Cr. Sales 3, 960
Cost of merchandise was P1, 800. Cr. Inventory 1, 800
Official Receipt
Bank Dr. Utilities Expense 7, 400
25-Jul Paid electricilty bill. P7, 400 Cash Disbursement Journal
Check Cr. Cash 7, 400
Check Voucher
Dr. Sales Return and Allowances 1, 320
Dr.
Received2 defective calculators from zjoel Company.
26-Jul P1, 320 Receiving Report General Journal Inventory 600
Cost p fdefective calculators is 600.
Cr. Accounts Receivable 1, 320
Cr. Cost of Sales 600

31-Jul Over the counter cash withdrawal by the owner, Rachel P10, 000 Withdrawal Slip Cash Disbursement Journal Dr. Dy Drawimgs 1, 000
Dy, for her personal expenses. Cr.Cash 1, 000
 Trial Balance Adjustments Adjusted Trial Balance SFP
Account Number Account Name
Debit Credit Debit Credit Debit Credit Debit
1000 Cash P113, 525 P113, 525 P113, 525
1200 Accounts Receivable 8, 140 8, 140 8, 140
1300 Inventory 20, 050 20, 050 20, 050
1400 Prepaid Expense 30, 000 A) 5, 000 25, 000 25, 000
1600 Office Equipment 45, 000 45, 000 45, 000
1601 Accumulated Depreciation - Office Equipment B)750 750
2000 Accounts Payable P 3, 000 P 3, 000
2201 Salaries Payable C) 7, 000 7, 000
3000 Dy Drawings 10, 000 10, 000 10, 000
3100 Dy Capital 200, 000 200, 000
4100 Sales 72, 710 72, 710
4101 Sales Return and Allowances 1, 320 1, 320
4102 Sales Discount 825 825
5100 Cost of Sales 32, 450 32, 450
6100 Salaries Expense 7, 000 C) 7, 000 14,000
6200 Utilities Expense 7, 400 7, 400
P 275, 710 P 275, 710

6300 Rental Expense A) 5, 000 5, 000

6500 Depreciation Expense - Office Equipment B) 750 750
P 283, 460 P 283, 460 P 221, 715
SFP SCI
Credit Debit Credit

P 3, 000
7, 000

72, 710
1, 320
825
32, 450
14,000
7, 400

5, 000
750
P 10, 000 P 61, 745 P 72, 710
 Tindahan Co.
Statement of Financial Position
As of July 31, 2Oxx
Assets
Current Assets
Cash P 113, 525
Accounts Receivable 8, 140
Inventory 20, 050
Prepaid Expense 25, 000
Total Current Assets P 166, 715

Non- Current Assets

Office Equipment P 45, 000
Accumulated Depreciation 750
Total Non- Current Assets P 44, 250
TOTAL ASSETS P 210, 965

Liabilities
Current Liabilities
Accounts Payable P 3, 000
Salaries Payable 7, 000
Total Current Liabilities P 10, 000
TOTAL LIABILITIES P 10, 000

Equity
Dy, Capital P 200, 965
TOTAL EQUITY P 200, 965
TOTAL LIABILITIES AND EQUITY P 210, 965
 Tindahan Co.
Statement of Comprehensive Income
As of July 31, 2Oxx
Sales
Sales Return and Allowances
Sales Discount
Net Sales
Cost of Sales
Gross Profit
Operating Expense
Net Income
 Tindahan Co.
ment of Comprehensive Income
As of July 31, 2Oxx
P 72, 710
1, 320
825
P 70, 565
32, 450
P 38, 115
27, 150
P 10, 965
 Tindahan Co.
Statement of Cash Flow
As of July 31, 2Oxx
Cash generated from Operating Activities
Cash received from customers for goods sold P 262, 425
Cash payment to suppliers (94, 500)
Salaries paid to employees (14, 000)
Utility payment ( 7, 400)
Payment for rent (5, 000)
Net Cash generated from Operating Activities P 141, 525
Cash generated from Investing Activities
Cash payment for the purchase of computer equipment (P45, 000)
Net Cash generated from Investing Activities (P45, 000)
Cash generated from Financing Activities
Investment from owner P200, 000
Cash withdrawal from owner (10, 000)
Net Cash generated from Financing Activities P 190, 000
Net Cash Balance P 286, 525
Cash Balance July 1 P113, 525
Ending Cash Balance July 31 P 173, 000
 Tindahan Co.
Statement of Changes in Owner's Equity
As of July 31, 2Oxx
Dy Capital, July 1, 20XX P 200,000
Add:
Net Income 10, 965
Less:
Dy, Drawings P 10,000
Dy, Ending Capital July 31, 20xx P 200, 965