DATE PARTICULARS F DEBIT

NOV 1 CASH IN BANK P3, 950, 000

PETTY CASH FUND P50, 000
H. SANTOS, CAPITAL

1 PREPAID RENT P120, 000

CASH IN BANK

1 RENOVATION EXPENSE P100, 000

CASH IN BANK

1 TAXES AND LICENSES EXPENSE P4, 500

CASH IN BANK

3 PURCHASES P2, 750, 000

CASH IN BANK

FREIGHT IN P15, 000

CASH IN BANK

3 COMPUTER EQUIPMENT P40, 000

CASH IN BANK

3 OFFICE SUPPLIES P75, 000

ACCOUNTS PAYABLE

3 ADVERTISING EXPENSE P2, 000

CASH IN BANK

4 CASH IN BANK P100, 000

PURCHASE RETURNS AND ALLOWANCES

5 ACCOUNTS PAYABLE P75, 000

PURCHASE DISCOUNT
CASH IN BANK

5 ACCOUNTS RECEIVABLE P875, 000

SALES

6 ACCOUNTS RECEIVABLE P2, 500

CASH IN BANK

6 SALES RETURNS AND ALLOWANCES P4, 500

CASH IN BANK
 7 CASH IN BANK P270, 000
SALES

7 PURCHASES P1, 000, 000

ACCOUNTS PAYABLE

FREIGHT IN P10, 000

CASH IN BANK

8 CASH IN BANK P1, 053, 500

SALES DISCOUNT P21, 500
SALES

9 CASH IN BANK P857, 500

SALES DISCOUNT P17, 500
ACCOUNTS RECEIVABLE

10 ACCOUNTS RECEIVABLE P53, 000

SALES

12 FREIGHT OUT P5, 000

CASH IN BANK

12 CASH IN BANK P60, 000

ACCOUNTS RECEIVABLE P40, 000
SALES

13 CASH IN BANK P350, 000

SALES

14 FREIGHT OUT P3, 000

CASH IN BANK

14 CASH IN BANK P40, 000

ACCOUNTS RECEIVABLE

15 SALARIES AND WAGES EXPENSE P29, 250

CASH IN BANK

16 UNCOLLECTIBLE ACCOUNTS P53, 000

EST. UNCOLLECTIBLE ACCOUNTS

16 ACCOUNTS PAYABLE P1, 000, 000

PURCHASE DISCOUNT
CASH IN BANK
17 H. SANTOS, DRAWING P500, 000
CASH IN BANK

18 CASH IN BANK P75, 000

SALES

19 FREIGHT OUT P2, 500

CASH IN BANK

19 CASH IN BANK P180, 000

UNEARNED INCOME

20 NO ENTRY

20 PREPAID INSURANCE P6, 000

CASH IN BANK

21 REPAIRS AND MAINTENANCE EXPENSE P1, 500

CASH IN BANK

21 CASH IN BANK P320, 000

SALES

22 ACCOUNTS RECEIVABLE P275, 000

SALES

23 UTILITIES EXPENSE P1, 000

CASH IN BANK

24 CASH IN BANK P269, 500

SALES DISCOUNT P5, 500
ACCOUNTS RECEIVABLE

25 ACCOUNTS RECEIVABLE P105, 000

SALES

26 FREIGHT OUT P5, 000

CASH IN BANK

27 CASH IN BANK P102, 900

SALES DISCOUNT P2, 100
ACCOUNTS RECEIVABLE

29 FREIGHT OUT P5, 000

 CASH IN BANK

30 UTILITIES EXPENSE P4, 000

CASH IN BANK

30 UTILITIES EXPENSE P2, 500

CASH IN BANK

30 SALARIES AND WAGES EXPENSE P29, 250

CASH IN BANK
CREDIT

P4, 000, 000

P120, 000

P100, 000

P4, 500

P2, 750, 000

P15, 000

P40, 000

P75, 000

P2, 000

P100, 000

P1, 500
P73, 500

P875, 000

P2, 500

P4, 500
 P270, 000

P1, 000, 000

P10, 000

P1, 075, 000

P875, 000

P53, 000

P5, 000

P100, 000

P350, 000

P3, 000

P40, 000

P29, 250

P53, 000

P50, 000
P950, 000
P500, 000

P75, 000

P2, 500

P180, 000

P6, 000

P1, 500

P320, 000

P275, 000

1, 000

P275, 000

P105, 000

P5, 000

P105, 000
 P5, 000

P4, 000

P2, 500

P29, 250

C
 CASH IN BA
DATE PARTICULARS F
NOV 1 Initial Investment
4 Received cash from Purchase Return and Allowances
7 Sales
8 Sales
9 Payment from customer
12 Payment from customer
13 Sales
14 Collection from customer
18 Sales
19 Advance Payment from Customer
21 Sales
24 Collection from customer
27 Collection from customer

Account Balance

PETTY CASH
DATE PARTICULARS F
1 Initial investment
Account Balance

ACCOUNTS REC
DATE PARTICULARS F
5 Collection from customer
6 Collection from customer
10 Collection from customer
12 Collection from customer
22 Collection from customer
25 Collection from customer

Account Balance
 OFFICE SUP
DATE PARTICULARS F
3 Payment for office suppplies
Account Balance

PREPAID R
DATE PARTICULARS F
1 Prepayment of rent
Account Balance

PREPAID INSU
DATE PARTICULARS F
20 Prepayment of insurance
Account Balance

EST. UNCOLLECTIBL
DATE PARTICULARS F

COMPUTER EQU
DATE PARTICULARS F
3 Acquisition of equipment
Account Balance

ACCOUNTS PA
DATE PARTICULARS F
5 Purchase on account
16 Purchase on account

UNEARNED IN
DATE PARTICULARS F

H. SANTOS, C
DATE PARTICULARS F

H. SANTOS, DR
DATE PARTICULARS F

Account Balance
 SALES
DATE PARTICULARS F

SALES RETURNS AND

DATE PARTICULARS F
Sales returns and allowances
Account Balance

SALES DISCO
DATE PARTICULARS F
Sales Discount
Sales Discount
Sales Discount
Sales Discount
Account Balance

PURCHAS
DATE PARTICULARS F
Purchases
Purchases
Account Balance

PURCHASE RETURNS A
DATE PARTICULARS F

PURCHASE DIS
DATE PARTICULARS F

FREIGHT
DATE PARTICULARS F
Payment for freight in
 Payment for freight in
Account Balance

RENOVATION E
DATE PARTICULARS F
Payment for renovation
Account Balance

ADVERTISING E
DATE PARTICULARS F
Payment for advertisement
Account Balance

TAXES AND LICENS

DATE PARTICULARS F
Payment for taxes and licenses
Account Balance

SALARIES AND WAG

DATE PARTICULARS F
Payment for salaries and wages
Payment for salaries and wages
Account Balance

FREIGHT O
DATE PARTICULARS F
Payment for freight out
Payment for freight out
Payment for freight out
Payment for freight out
Payment for freight out
Account Balance

REPAIRS AND MAINTEN

DATE PARTICULARS F
Payment for repairs and maintenance
Account Balance

UTILITIES EXP
DATE PARTICULARS F
Payment for utilities
Payment for utilities
Payment for utilities
Account Balance

UNCOLLECTIBLE A
DATE PARTICULARS F
Uncollectible account
Account Balance
 CASH IN BANK
DEBIT DATE PATICULARS
P3, 950, 000 1 Prepayment of rent
P100, 000 1 Payment for renovation
P270, 000 1 Payment for taxes and licenses
P1, 053, 500 3 Purchases
P857, 500 3 Payment for freight in
P60, 000 3 Payment for Acquisition of Equipment
P350, 000 3 Payment for advertisement
P40, 000 5 Payment of account
P75, 000 6 Payment for freight in
P180, 000 6 Sales returns and allowances
P320, 000 8 Payment for freight in
P269, 500 12 Payment for freight out
P102, 900 14 Payment for freight out
15 Payment for salaries and wages
16 Payment of account
17 Withdrawal
19 Payment for freight out
20 Prepayment of insurance
21 Payment for repairs and maintenance
23 Payment for utilities
26 Payment for freight out
29 Payment for freight out
30 Payment for utilities
30 Payment for utilities
30 Payment for salaries and wages
P7, 623, 990
P2, 962, 400

PETTY CASH FUND

DEBIT DATE PARTICULARS
P50, 000
P50, 000

ACCOUNTS RECEIVABLE
DEBIT DATE PARTICULARS
P875, 000 9 Received payment from customer
P2, 500 14 Received payment from customer
P53, 000 24 Received payment from customer
P40, 000 27 Received payment from customer
P275, 000
P105, 000
P1, 350, 500
P55, 500
 OFFICE SUPPLIES
DEBIT DATE PARTICULARS
P75, 000
P75, 000

PREPAID RENT
DEBIT DATE PARTICULARS
P120, 000
P120, 000

PREPAID INSURANCE
DEBIT DATE PARTICULARS
P6, 000
P6, 000

EST. UNCOLLECTIBLE ACCOUNTS

DEBIT DATE PARTICULARS
16 Uncollectible account
Account Balance

COMPUTER EQUIPMENT
DEBIT DATE PARTICULARS
P40, 000
P40, 000

ACCOUNTS PAYABLE
DEBIT DATE PARTICULARS
P750, 000 3 Purchase on account
P1, 000, 000 7 Purchase on account
P1, 750, 000
Account Balance

UNEARNED INCOME
DEBIT DATE PARTICULARS
Advance payment from customer
Account Balance

H. SANTOS, CAPITAL
DEBIT DATE PARTICULARS
Initial investment
Account Balance

H. SANTOS, DRAWING
DEBIT DATE PARTICULARS
P500, 000
P500, 000
 SALES
DEBIT DATE PARTICULARS
SALES
SALES
SALES
SALES
SALES
SALES
SALES
SALES
SALES
SALES
Account Balance

SALES RETURNS AND ALLOWANCES

DEBIT DATE PARTICULARS
P4, 500
P4, 500

SALES DISCOUNT
DEBIT DATE PARTICULARS
P21, 500
P17, 500
P5, 500
P2, 100
P46, 600

PURCHASES
DEBIT DATE PARTICULARS
P2, 750, 000
P1, 000, 000
P3, 750, 000

PURCHASE RETURNS AND ALLOWANCE

DEBIT DATE PARTICULARS
Purchase returns and allowances
Account Balance

PURCHASE DISCOUNT
DEBIT DATE PARTICULARS
Purchase Discount
Purchase Discount
Account Balance

FREIGHT IN
DEBIT DATE PARTICULARS
P15, 000
 P10, 000
P25, 000

RENOVATION EXPENSE
DEBIT DATE PARTICULARS
P100, 000
P100, 000

ADVERTISING EXPENSE
DEBIT DATE PARTICULARS
P2, 000
P2, 000

TAXES AND LICENSES EXPENSE

DEBIT DATE PARTICULARS
P4, 500
P4, 500

SALARIES AND WAGES EXPENSE

DEBIT DATE PARTICULARS
P29, 250
P29, 250
P58, 500

FREIGHT OUT
DEBIT DATE PARTICULARS
P5, 000
P3, 000
P2, 500
P5, 000
P5, 000
P20, 500

REPAIRS AND MAINTENANCE EXPENSE

DEBIT DATE PARTICULARS
P1, 500
P1, 500

UTILITIES EXPENSE
DEBIT DATE PARTICULARS
P1, 000
P4, 000
P2, 500
P7, 500

UNCOLLECTIBLE ACCOUNTS
DEBIT DATE PARTICULARS
P53, 000
P53, 000
 F CREDIT
P120, 000
P100, 000
P4, 500
P2, 750, 000
P15, 000
P40, 000
P2, 000
P73, 500
P2, 500
P4, 500
P10, 000
P5, 000
3, 000
P29, 250
P950, 000
P500, 000
P2, 500
P6, 000
P1, 500
P1, 000
5000
P5, 000
P4, 000
P2, 500
P29, 250
P4, 666, 000

F CREDIT

F CREDIT
870500 P875, 000
P40, 000
P275, 000
P105, 000

P1, 290, 000

F CREDIT

F CREDIT

F CREDIT

F CREDIT
P53, 000
P53, 000

F CREDIT

F CREDIT
P750, 000
P1, 000, 000
P1, 750, 000
P0

F CREDIT
P180, 000
P180, 000

F CREDIT
P4, 000, 000
P4,000, 000

F CREDIT
F CREDIT
P875, 000
P270, 000
1, 075, 000
53, 000
100, 000
350, 000
75, 000
320, 000
275, 000
105, 000
P3, 498, 000

F CREDIT

F CREDIT

F CREDIT

F CREDIT
P100, 000
P100, 000

F CREDIT
P50, 000
P1, 500
P51, 500

F CREDIT
F CREDIT

F CREDIT

F CREDIT

F CREDIT

F CREDIT

F CREDIT

F CREDIT

F CREDIT
 THE WOODEN FURNITURE
UN-ADJUSTED TRIAL BALANCE
NOVEMBER 30, 2022

ACCOUNT TITLES DEBIT CREDIT

Cash in Bank P2, 962, 400
Petty Cash Fund P50, 000
Accounts Receivable P55, 500
Office Supplies P75, 500
Prepaid Rent P120, 000
Prepaid Insurance P6, 000
Est. Unollectible Account P53, 000
Computer Equipment P40, 000
Unearned Sales P180, 000
H. Santos, Capital P5, 000, 000
H. Santos, Drawing P500, 000
Sales P3, 498, 000
Sales Returns and Allowances P4, 500
Sales Discount P46, 600
Purchases P3, 750, 000
Purchase Returns and Allowances P100, 000
Purchase Discount P51, 500
Freight In P25, 000
Renovation Expense P100, 000
Advertising Expense P2, 000
Taxes and Licenses Expense P4, 500
Salaries and Wages Expense P58, 500
Freight Out P20, 500
Repairs and Maintenance Expense P1, 500
Utilities Expense P7, 500
Uncollectible Accounts P53, 000
Total P7, 882, 500 P7, 882, 500
 THE WOODEN FURNITURE
ADJUSTMENTS
NOVEMBER 30, 2022

ACCOUNT TITLES DEBIT CREDIT

Rent Expense P30,000

Prepaid Rent P30,000

Depreciation Expense P3, 333.3

Accumulated Depreciation P3, 333.3

Office Supplies Expense 15,000

Office Supplies 15,000

Salaries & Wages Expense P10,000

Accrued Salaries Wages P10,000

Insurance Expense P1,000

Prepaid Insurance P1,000
 THE WOODEN FURNITURE
ADJUSTED TRIAL BALANCE
FOR THE MONTH ENDED- NOVEMBER 30

ACCOUNT TITLES DEBIT CREDIT

Cash in Bank P2, 962, 400
Petty Cash Fund P50, 000
Accounts Receivable P55, 500
Office Supplies P60, 000
Prepaid Rent P90, 000
Prepaid Insurance P5, 000
Est. Unollectible Account P53, 000
Computer Equipment P40, 000
Unearned Sales P180, 000
H. Santos, Capital P4, 000, 000
H. Santos, Drawing P500, 000
Sales P3, 498, 000
Sales Returns and Allowances P4, 500
Sales Discount P46, 600
Purchases P3, 750, 000
Purchase Returns and Allowances P100, 000
Purchase Discount P51, 500
Freight In P25, 000
Renovation Expense P100, 000
Advertising Expense P2, 000
Taxes and Licenses Expense P4, 500
Salaries and Wages Expense P48, 500
Freight Out P20, 500
Repairs and Maintenance Expense P1, 500
Utilities Expense P7, 500
Uncollectible Accounts P53, 000
Rent Expense P30, 000
Depreciation Expense- Computer Equipmen P3, 333.3
Acc. Depreciation- Computer Equipment P3, 333.3
Office Supplies Expense P15, 000
Accrued Salaries and Wages P10, 000
Insurance Expense P1, 000
Total P7, 885, 833.3 P7, 885, 833.3
 THE WOODEN FURNITURE
STATEMENT OF COST OF GOODS SOLD
FOR THE MONTH ENDED- NOVEMBER 30

Merchandise Inventory - Feb. 1 0

Add: Net Cost of Purchases
Purchases P3, 750, 000
Less: Purchase Ret. & Allowances (P100, 000)
Purchase Discount (P51, 500)
Add: Freight-In P25, 000
Total Goods Available for Sale P3, 623, 500
Less: Merchandise Inventory - End 1, 067, 500
Cost of Goods Sold 2, 556, 000
 THE WOODEN FURNITURE
STATEMENT OF FINANCIAL PERFORMANCE (INCOME STATEMENT)
FOR THE MONTH ENDED- NOVEMBER 30

Revenue
Sales
Less: Sales Ret. & Allowances P4, 500
Sales Discounts 46, 600
Net Sales

Less: Cost of Goods Sold

Gross Profit from Sales (Gross Margin)
Add: Rent Income
Gross Income
Less: Expenses
Renovation Expense P100, 000
Advertising Expense P2, 000
Taxes and Licenses Expense P4, 500
Salaries and Wages Expense P48, 500
Freight Out P20, 500
Repairs and Maintenance Expense P1, 500
Utilities Expense P7, 500
Uncollectible Accounts P53, 000
Rent Expense P30, 000
Depreciation Expense- Computer Equipment P3, 333.3
Office Supplies Expense P15, 000
Insurance Expense P1, 000
Operating Income
OME STATEMENT)
ER 30

3, 498, 000

3, 446, 900

2, 556, 000
890, 900
0
890, 900

306, 833.3
584, 066.7
 THE WOODEN FURNITURE
STATEMENT OF CHANGES OF OWNER'S EQUITY
FOR THE MONTH ENDED- NOVEMBER 30

H. SANTOS, CAPITAL, BEG. P4, 000, 000

ADD: ADDITIONAL INVESTMENT P0
NET PROFIT P584, 066.7
TOTAL

LESS: DRAWING P500, 000

NET LOSS P0
H. SANTOS, CAPITAL, END- NOVEMBER 30 P4, 084, 066.7
 THE WOODEN FURNITURE
STATEMENT OF FINANCIAL POSITION
AS OF- NOVEMBER 30

ASSETS
Current Assets
Cash in Bank 2, 962 400
Petty Cash Fund P50, 000
Merchandise Inventory-End 1, 067, 500
Accounts Receivable 55, 500
Est. Unollectible Account 53, 000
2500
Office Supplies P60, 000
Prepaid Rent P90, 000
Prepaid Insurance P5, 000
Total Current Assets 4, 237, 400

Non-Current Assets
Computer Equipment P40, 000
Accumulated Depreciation- 3, 333.3
Total Non-Current Assets 36, 666.7

Total Assets 4, 274, 066.7

WOODEN FURNITURE
T OF FINANCIAL POSITION
OF- NOVEMBER 30

LIABILITIES AND OWNER'S EQUITY

Liabilities
Current Liabilities
Unearned Sales P180, 000
Accrued Salaries and Wages 10, 000
Total Current Liabilities P190, 000

Owner's Equity
H. Santos, Capital End P4, 084, 066.7

Total Liabilities & Owner's Equity 4, 274, 066.7

 THE WOODEN FURNITURE
STATEMENT OF CASH FLOW
FOR THE MONTH ENDED- NOVEMBER 30

INFLOW/RECEIPTS/INCOME
Initial Investment
Received cash from Purchase Return and Allowances
Sales
Sales
Payment from customer
Payment from customer
Sales
Collection from customer
Sales
Advance Payment from Customer
Sales
Collection from customer
Collection from customer
Total Inflows

Outflows / Payments
Prepayment of rent
Payment for renovation
Payment for taxes and licenses
Purchases
Payment for freight in
Payment for Acquisition of Equipment
Payment for advertisement
Payment of account
Payment for freight in
Sales returns and allowances
Payment for freight in
Payment for freight out
Payment for freight out
Payment for salaries and wages
Payment of account
Withdrawal
Payment for freight out
Prepayment of insurance
Payment for repairs and maintenance
Payment for utilities
Payment for freight out
Payment for freight out
Payment for utilities
Payment for utilities
Payment for salaries and wages
Total Outflows

Cash- November 30
WOODEN FURNITURE
MENT OF CASH FLOW
ONTH ENDED- NOVEMBER 30

P3, 950, 000

P100, 000
P270, 000
P1, 053, 500
P857, 500
P60, 000
P350, 000
P40, 000
P75, 000
P180, 000
P320, 000
P269, 500
P102, 900
P7, 623, 990

P120, 000
P100, 000
P4, 500
P2, 750, 000
P15, 000
P40, 000
P2, 000
P73, 500
P2, 500
P4, 500
P10, 000
P5, 000
3, 000
P29, 250
P950, 000
P500, 000
P2, 500
P6, 000
P1, 500
P1, 000
5000
P5, 000
P4, 000
 P2, 500
P29, 250
P4, 666, 000

P2, 962, 400