Guia Mae V.

Estellena Grade XII - ABM - C

Requirement # 1
Kayakoto Company
General Ledger

Account: Cash Account No. 110

Date Explanation J.R. Debit Credit Balance
2016
February 1 33,000.00 3,300.00

Account: Accounts Receivable Account No. 120

Date Explanation J.R. Debit Credit Balance
2016
February 1 192,000.00 192,000.00

Account: Merchandise Inventory Account No. 130

Date Explanation J.R. Debit Credit Balance
2016
February 1 413,000.00 413,000.00

Account: Supplies Account No. 140

Date Explanation J.R. Debit Credit Balance
2016
February 1 51,000.00 51,000.00

Account: Prepaid Insurance Account No. 150

Date Explanation J.R. Debit Credit Balance
2016
February 1 48,000.00 48,000.00

Account: Land Account No. 160

Date Explanation J.R. Debit Credit Balance
2016
February 1 460,000.00 460,000.00

Account: Building Account No. 170

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,750,000.00 1,750,000.00

Account: Accumulated Depreciation - Building Account No. 175

Date Explanation J.R. Debit Credit Balance

1
Guia Mae V. Estellena Grade XII - ABM - C
2016
February 1 350,000.00 350,000.00

Account: Equipment Account No. 180

Date Explanation J.R. Debit Credit Balance
2016
February 1 2,310,000.00 2,310,000.00

Account: Accumulated Depreciation - Equipment Account No. 185

Date Explanation J.R. Debit Credit Balance
2016
February 1 630,000.00 630,000.00

Account: Accounts Payable Account No. 210

Date Explanation J.R. Debit Credit Balance
2016
February 1 108,000.00 108,000.00

Account: Mortgage Payable Account No. 230

Date Explanation J.R. Debit Credit Balance
2016
February 1 2,600,000.00 2,600,000.00

Account: Kayakoto, Capital Account No. 310

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,569,000.00 1,569,000.00

2
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 2
Kayakoto Company
General Journal
page 1
Date Account Titles and Explanation P.R. Debit Credit
2016
February 1 Cash 110 113,000.00
Accounts Receivable 120 113,000.00
February 2 Accounts Payable 210 64,000.00
Purchases Discount 530 1,920.00
Cash 110 62,080.00
February 4 Purchases 510 170,000.00
Accounts Payable 210 170,000.00
February 5 Accounts Receivable 120 270,000.00
Sales 410 270,000.00
February 7 Advertising Expense 670 6,000.00
Cash 110 6,000.00
February 7 Cash 110 250,000.00
Sales 410 250,000.00
February 8 Accounts Payable 210 170,000.00
Purchases Discount 530 5,100.00
Cash 110 164,900.00
February 9 Transportation In 540 4,000.00
Cash 110 4,000.00
February 10 Sales Returns and Allowances 420 70,000.00
Accounts Receivable 120 70,000.00
February 12 Cash 110 196,000.00
Sales Discount 430 4,000.00
Accounts Receivable 120 200,000.00
February 14 Interest Expense 680 26,000.00
Cash 110 26,000.00
February 15 Salaries Expense 610 51,000.00
Cash 110 51,000.00
February 16 Accounts Receivable 120 392,000.00
Sales 410 392,000.00
February 18 Transportation Out 660 4,000.00
Cash 110 4,000.00
February 19 Supplies 140 21,000.00
Cash 110 21,000.00
February 20 Purchases 510 125,000.00
Accounts Payable 210 125,000.00
February 22 Miscellaneous Expense 690 7,000.00
Guia Mae V. Estellena Grade XII - ABM - C
Cash 110 7,000.00

page 2
February 23 Cash 110 384,160.00
Sales Discount 430 7,840.00
Accounts Receivable 120 392,000.00
February 24 Purchases 510 373,000.00
Accounts Payable 210 373,000.00
February 24 Transportation In 540 9,000.00
Cash 110 9,000.00
February 25 Accounts Receivable 120 420,000.00
Sales 410 420,000.00
February 26 Sales Returns and Allowances 420 71,000.00
Accounts Receivable 120 71,000.00
February 27 Kayakoto, Withdrawals 320 400,000.00
Cash 110 400,000.00
February 28 Accounts Payable 210 25,000.00
Purchases Returns and Allowances 520 25,000.00
Guia Mae V. Estellena Grade XII - ABM - C
Requirement # 2
Kayakoto Company
General Ledger

Account: Cash Account No. 110

Date Explanation J.R. Debit Credit Balance
2016
February 1 33,000.00 33,000.00
February 1 J-1 113,000.00 146,000.00
February 2 J-1 62,080.00 83,920.00
February 7 J-1 6,000.00 77,920.00
February 7 J-1 250,000.00 327,920.00
February 8 J-1 164,900.00 163,020.00
February 9 J-1 4,000.00 159,020.00
February 12 J-1 196,000.00 355,020.00
February 14 J-1 26,000.00 329,020.00
February 15 J-1 51,000.00 278,020.00
February 18 J-1 4,000.00 274,020.00
February 19 J-1 21,000.00 253,020.00
February 22 J-1 7,000.00 246,020.00
February 23 J-2 384,160.00 630,180.00
February 24 J-2 9,000.00 621,180.00
February 27 J-2 400,000.00 221,180.00

Account: Accounts Receivable Account No. 120

Date Explanation J.R. Debit Credit Balance
2016
February 1 192,000.00 192,000.00
February 1 J-1 113,000.00 79,000.00
February 5 J-1 270,000.00 349,000.00
February 10 J-1 70,000.00 279,000.00
February 12 J-1 200,000.00 79,000.00
February 16 J-1 392,000.00 471,000.00
February 23 J-2 392,000.00 79,000.00
February 25 J-2 420,000.00 499,000.00
February 26 J-2 71,000.00 428,000.00

Account: Merchandise Inventory Account No. 130

Date Explanation J.R. Debit Credit Balance
2016
February 1 413,000.00 413,000.00

5
Guia Mae V. Estellena Grade XII - ABM - C

Account: Supplies Account No. 140

Date Explanation J.R. Debit Credit Balance
2016
February 1 51,000.00 51,000.00
February 19 J-1 21,000.00 72,000.00

Account: Prepaid Insurance Account No. 150

Date Explanation J.R. Debit Credit Balance
2016
February 1 48,000.00 48,000.00

Account: Land Account No. 160

Date Explanation J.R. Debit Credit Balance
2016
February 1 460,000.00 460,000.00

Account: Building Account No. 170

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,750,000.00 1,750,000.00

Account: Accumulated Depreciation - Building Account No. 175

Date Explanation J.R. Debit Credit Balance
2016
February 1 350,000.00 350,000.00

Account: Equipment Account No. 180

Date Explanation J.R. Debit Credit Balance
2016
February 1 2,310,000.00 2,310,000.00

Account: Accumulated Depreciation - Equipment Account No. 185

Date Explanation J.R. Debit Credit Balance
2016
February 1 630,000.00 630,000.00

Account: Accounts Payable Account No. 210

Date Explanation J.R. Debit Credit Balance
2016
February 1 108,000.00 108,000.00
February 2 J-1 64,000.00 44,000.00

6
Guia Mae V. Estellena Grade XII - ABM - C
February 4 J-1 170,000.00 214,000.00
February 8 J-1 170,000.00 44,000.00
February 20 J-1 125,000.00 169,000.00
February 24 J-2 373,000.00 542,000.00
February 28 J-2 25,000.00 517,000.00

Account: Mortgage Payable Account No. 230

Date Explanation J.R. Debit Credit Balance
2016
February 1 2,600,000.00 2,600,000.00

Account: Kayakoto, Capital Account No. 310

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,569,000.00 1,569,000.00

Account: Kayakoto, Withdrawals Account No. 320

Date Explanation J.R. Debit Credit Balance
2016
February 27 J-2 400,000.00 400,000.00

Account: Sales Account No. 410

Date Explanation J.R. Debit Credit Balance
2016
February 5 J-1 270,000.00 270,000.00
February 7 J-1 250,000.00 520,000.00
February 16 J-1 392,000.00 912,000.00
February 25 J-2 420,000.00 1,332,000.00

Account: Sales Returns and Allowances Account No. 420

Date Explanation J.R. Debit Credit Balance
2016
February 10 J-1 70,000.00 70,000.00
February 26 J-2 71,000.00 141,000.00

Account: Sales Discounts Account No. 430

Date Explanation J.R. Debit Credit Balance
2016
February 12 J-1 4,000.00 4,000.00
February 23 J-2 7,840.00 11,840.00

Account: Purchases Account No. 510

Date Explanation J.R. Debit Credit Balance

7
Guia Mae V. Estellena Grade XII - ABM - C
2016
February 5 J-1 170,000.00 170,000.00
February 7 J-1 125,000.00 295,000.00
February 16 J-1 373,000.00 668,000.00

Account: Purchases Returns and Allowances Account No. 520

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-2 25,000.00 25,000.00

Account: Purchases Discounts Account No. 530

Date Explanation J.R. Debit Credit Balance
2016
February 2 J-1 1,920.00 1,920.00
February 8 J-1 5,100.00 7,020.00

Account: Transportation In Account No. 540

Date Explanation J.R. Debit Credit Balance
2016
February 9 J-1 4,000.00 4,000.00
February 24 J-2 9,000.00 13,000.00

Account: Salaries Expense Account No. 610

Date Explanation J.R. Debit Credit Balance
2016
February 15 J-1 51,000.00 51,000.00

Account: Transportation Out Account No. 660

Date Explanation J.R. Debit Credit Balance
2016
February 18 J-1 4,000.00 4,000.00

Account: Advertising Expense Account No. 670

Date Explanation J.R. Debit Credit Balance
2016
February 7 J-1 6,000.00 6,000.00

Account: Interest Expense Account No. 680

Date Explanation J.R. Debit Credit Balance
2016
February 14 J-1 26,000.00 26,000.00
8
Guia Mae V. Estellena Grade XII - ABM - C

Account: Miscellaneous Expense Account No. 690

Date Explanation J.R. Debit Credit Balance
2016
February 14 J-1 7,000.00 7,000.00

9
Requirement # 3
Kayakoto Company
Worksheet
For the Month Ended Febraury 28, 2016

UNADJUSTED TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT

P.R. ACCOUNT TITLE Debit Credit Debit Credit Debit Credit Debit
110 Cash 221,180.00 221,180.00
120 Accounts Receivable 428,000.00 428,000.00
130 Merchandise Inventory 413,000.00 e. 397,000.00 e. 413,000.00 397,000.00 413,000.00
140 Supplies 72,000.00 d. 58,000.00 14,000.00
150 Prepaid Insurance 48,000.00 b. 2,000.00 46,000.00
160 Land 460,000.00 460,000.00
170 Building 1,750,000.00 1,750,000.00
175 Accumulated Depreciation - Building 350,000.00 c. 9,000.00 359,000.00
180 Equipment 2,310,000.00 2,310,000.00
185 Accumulated Depreciation - Equipment 630,000.00 c. 12,000.00 642,000.00
210 Accounts Payable 517,000.00 517,000.00
220 Salaries Payable a. 51,000.00 51,000.00
230 Mortgage Payable 2,600,000.00 2,600,000.00
310 Kayakoto, Capital 1,569,000.00 1,569,000.00
320 Kayakoto, Withdrawals 400,000.00 400,000.00
330 Income Summary e. 413,000.00 e. 397,000.00 16,000.00
410 Sales 1,332,000.00 1,332,000.00
420 Sales Returns and Allowances 141,000.00 141,000.00 141,000.00
430 Sales Discounts 11,840.00 11,840.00 11,840.00
510 Purchases 668,000.00 668,000.00 668,000.00
520 Purchases Returns and Allowances 25,000.00 25,000.00
530 Prurchases Discounts 7,020.00 7,020.00
540 Transportation In 13,000.00 13,000.00 13,000.00
610 Salaries Expense 51,000.00 a. 51,000.00 102,000.00 102,000.00
620 Supplies Expense d. 7,000.00 58,000.00 58,000.00
630 Insurance Expense b. 2,000.00 2,000.00 2,000.00
640 Depreciation Expense - Building c. 9,000.00 9,000.00 9,000.00
650 Depreciation Expense - Equipment c. 12,000.00 12,000.00 12,000.00
660 Transportation Out 4,000.00 4,000.00 4,000.00
670 Advertising Expense 6,000.00 6,000.00 6,000.00
680 Interest Expense 26,000.00 26,000.00 26,000.00
690 Miscellaneous Expense 7,000.00 7,000.00 7,000.00
7,030,020.00 7,030,020.00 413,000.00 482,000.00 7,102,020.00 7,102,020.00 1,472,840.00
Profit 288,180.00
1,761,020.00
E STATEMENT BALANCE SHEET
Credit Debit Credit
221,180.00
428,000.00
397,000.00 397,000.00
14,000.00
46,000.00
460,000.00
1,750,000.00
359,000.00
2,310,000.00
642,000.00
517,000.00
51,000.00
2,600,000.00
1,569,000.00
400,000.00

1,332,000.00

25,000.00
7,020.00
 1,761,020.00 6,026,180.00 5,738,000.00
288,180.00
1,761,020.00 6,026,180.00 6,026,180.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 4

Kayakoto Company
Income Statement
For the Month Ended February 28, 2017

Net Sales
Gross Sales 1,332,000.00
Less: Sales Returns and Allowances 141,000.00
Sales Discounts 11,840.00 152,840.00
Net Sales 1,179,160.00
Cost of Sales

Merchandise Inventory, 02/01/2016 413,000.00

Purchases 668,000.00

Less: Purchases Returns and Allowances 25,000.00

Purchases Discounts 7,020.00 32,020.00
Net Purchases 635,980.00
Transportation In 13,000.00
Net Cost of Purchases 648,980.00
Goods Available for Sale 1,061,980.00
Less: Merchandise Inventory, 02/28/2016 397,000.00
Cost of Sales 664,980.00
Gross Profit 514,180.00
Operating Expenses

Selling Expenses
Supplies Expense 58,000.00
Transportation Out 4,000.00
Advertising Expense 6,000.00
Total Selling Expenses 68,000.00
Administrative Expenses
Salaries Expense 102,000.00
Insurance Expense 2,000.00
Depreciation Expense - Building 9,000.00
Depreciation Expense - Equipment 12,000.00
Miscellaneous Expense 7,000.00
Guia Mae V. Estellena Grade XII - ABM - C
Total Administrative Expenses 132,000.00
Total Operating Expenses 200,000.00
Operating Profit 314,180.00
Finance Cost 26,000.00
Profit 288,180.00

Love Company
Statement of Changes in Equity
For the Month Ended January 31, 2017

Love, Owner's Equity, 01/01/2017 130,000.00

Add:Profit -
Total 130,000.00
Less:Withdrawals 2,000.00
Love, Owner's Equity, 01/31/2017 128,000.00

Love Company
Statement of Finacial Position
January 31, 2017

ASSETS
Current Assets
Cash 118,000.00
Accounts R 10,000.00
Prepaid Re 20,000.00
Office Supp 600.00
Total Current Assets 148,600.00
Property and Equipment (Net)
Office Equ 15,000.00
Less: Acc 2,000.00 13,000.00
Total Assets 161,600.00

LIABILITIES
Current Liabilities
Accounts P 12,000.00
Salaries Pa 5,000.00
Total Current Liabilities 17,000.00
Guia Mae V. Estellena Grade XII - ABM - C
OWNER'S EQUITY
Love, Capital, 01/31/2017 -
Total Liabilities and Owner's Equtiy 17,000.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 4

Kayakoto Company
Statement of Changes in Equity
For the Month February 28, 2016

Kayakoto, Owner's Equity, 02/01/2016 1,569,000.00

Add: Profit 288,180.00
Total 1,857,180.00
Less: Withdrawals 400,000.00
Kayakoto, Owner's Equity, 02/28/2016 1,457,180.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 4

Kayakoto Company
Statement of Finacial Position
February 28, 2016

ASSETS
Current Assets
Cash 221,180.00
Accounts Receivable 428,000.00
Merchandise Inventory 397,000.00
Supplies 14,000.00
Prepaid Insurance 46,000.00
Total Current Assets 1,106,180.00
Property and Equipment (Net)
Land 460,000.00
Building 1,750,000.00
Less: Accumulated Depreciation 359,000.00 1,391,000.00

Office Equipment 2,310,000.00

Less: Accumulated Depreciation 642,000.00 1,668,000.00 3,519,000.00
Total Assets 4,625,180.00

LIABILITIES
Current Liabilities
Accounts Payable 517,000.00
Salaries Payable 51,000.00
Total Current Liabilities 568,000.00
Non-current Liabilities 2,600,000.00
Mortgage Payable 3,168,000.00
Total Liabilities

OWNER'S EQUITY
Kayakoto, Capital, 02/28/2016 1,457,180.00
Total Liabilities and Owner's Equtiy 4,625,180.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 5

Kayakoto Company
Post-Closing Trial Balance
February 28, 2016

Cash 221,180.00
Accounts Receivable 428,000.00
Merchandise Inventory 397,000.00
Supplies 14,000.00
Prepaid Insurance 46,000.00
Land 460,000.00
Building 1,750,000.00
Accumulated Depreciation - Building 359,000.00
Equipment 2,310,000.00
Accumulated Depreciation - Equipment 642,000.00
Accounts Payable 517,000.00
Salaries Payable 51,000.00
Mortgage Payable 2,600,000.00
Kayakoto, Capital 1,457,180.00
5,626,180.00 5,626,180.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 5
Kayakoto Company
Adjusting Entries
page 3
Adj. Account Titles and Explanation P.R. Debit Credit
a. Salaries Expense 610 51,000.00
Salaries Payable 220 51,000.00
b. Insurance Expense 630 2,000.00
Prepaid Insurance 150 2,000.00
c. Depreciation Expense - Building 640 9,000.00
Accumulated Depreciation - Building 175 9,000.00
Depreciation Expense - Equipment 650 12,000.00
Accumulated Depreciation - Equipment 185 12,000.00
d. Supplies Expense 620 58,000.00
Supplies 140 58,000.00
e. Income Summary 330 413,000.00
Merchandise Inventory, 02/01/2016 130 413,000.00
Merchandise Inventory, 02/28/2016 130 397,000.00
Income Summary 330 397,000.00
Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 1, 2, 6
Kayakoto Company
General Ledger

Account: Cash Account No. 110

Date Explanation J.R. Debit Credit Balance
2016
February 1 33,000.00 33,000.00
February 1 J-1 113,000.00 146,000.00
February 2 J-1 62,080.00 83,920.00
February 7 J-1 6,000.00 77,920.00
February 7 J-1 250,000.00 327,920.00
February 8 J-1 164,900.00 163,020.00
February 9 J-1 4,000.00 159,020.00
February 12 J-1 196,000.00 355,020.00
February 14 J-1 26,000.00 329,020.00
February 15 J-1 51,000.00 278,020.00
February 18 J-1 4,000.00 274,020.00
February 19 J-1 21,000.00 253,020.00
February 22 J-1 7,000.00 246,020.00
February 23 J-2 384,160.00 630,180.00
February 24 J-2 9,000.00 621,180.00
February 27 J-2 400,000.00 221,180.00

Account: Accounts Receivable Account No. 120

Date Explanation J.R. Debit Credit Balance
2016
February 1 192,000.00 192,000.00
February 1 J-1 113,000.00 79,000.00
February 5 J-1 270,000.00 349,000.00
February 10 J-1 70,000.00 279,000.00
February 12 J-1 200,000.00 79,000.00
February 16 J-1 392,000.00 471,000.00
February 23 J-2 392,000.00 79,000.00
February 25 J-2 420,000.00 499,000.00
February 26 J-2 71,000.00 428,000.00

21
Guia Mae V. Estellena Grade XII - ABM - C

Account: Merchandise Inventory Account No. 130

Date Explanation J.R. Debit Credit Balance
2016
February 1 413,000.00 413,000.00
February 28 J-3 397,000.00 16,000.00
February 28 J-4 397,000.00 413,000.00
February 28 J-4 413,000.00 0.00

Account: Supplies Account No. 140

Date Explanation J.R. Debit Credit Balance
2016
February 1 51,000.00 51,000.00
February 19 J-1 21,000.00 72,000.00
February 28 J-3 58,000.00 14,000.00

Account: Prepaid Insurance Account No. 150

Date Explanation J.R. Debit Credit Balance
2016
February 1 48,000.00 48,000.00
February 28 2,000.00 46,000.00

Account: Land Account No. 160

Date Explanation J.R. Debit Credit Balance
2016
February 1 460,000.00 460,000.00

Account: Building Account No. 170

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,750,000.00 1,750,000.00

Account: Accumulated Depreciation - Building Account No. 175

Date Explanation J.R. Debit Credit Balance
2016
February 1 350,000.00 350,000.00
February 28 J-3 9,000.00 359,000.00

Account: Equipment Account No. 180

Date Explanation J.R. Debit Credit Balance

22
Guia Mae V. Estellena Grade XII - ABM - C
2016
February 1 2,310,000.00 2,310,000.00

Account: Accumulated Depreciation - Equipment Account No. 185

Date Explanation J.R. Debit Credit Balance
2016
February 1 630,000.00 630,000.00
February 28 J-3 12,000.00 642,000.00

Account: Accounts Payable Account No. 210

Date Explanation J.R. Debit Credit Balance
2016
February 1 108,000.00 108,000.00
February 2 J-1 64,000.00 44,000.00
February 4 J-1 170,000.00 214,000.00
February 8 J-1 170,000.00 44,000.00
February 20 J-1 125,000.00 169,000.00
February 24 J-2 373,000.00 542,000.00
February 28 J-2 25,000.00 517,000.00

Account: Salaries Payable Account No. 220

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 51,000.00 51,000.00

Account: Mortgage Payable Account No. 230

Date Explanation J.R. Debit Credit Balance
2016
February 1 2,600,000.00 2,600,000.00

Account: Kayakoto, Capital Account No. 310

Date Explanation J.R. Debit Credit Balance
2016
February 1 1,569,000.00 1,569,000.00
February 28 J-4 288,180.00 1,857,180.00
February 28 J-4 400,000.00 1,457,180.00

Account: Kayakoto, Withdrawals Account No. 320

Date Explanation J.R. Debit Credit Balance
2016

23
Guia Mae V. Estellena Grade XII - ABM - C
February 27 J-2 400,000.00 400,000.00
February 28 J-4 400,000.00 0.00

Account: Income Summary Account No. 330

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 413,000.00 413,000.00
February 28 J-3 397,000.00 16,000.00
February 28 J-4 1,761,020.00 1,745,020.00
February 28 J-4 1,472,840.00 288,180.00
February 28 J-4 288,180.00 0.00

Account: Sales Account No. 410

Date Explanation J.R. Debit Credit Balance
2016
February 5 J-1 270,000.00 270,000.00
February 7 J-1 250,000.00 520,000.00
February 16 J-1 392,000.00 912,000.00
February 25 J-2 420,000.00 1,332,000.00
February 28 J-4 1,332,000.00 0.00

Account: Sales Returns and Allowances Account No. 420

Date Explanation J.R. Debit Credit Balance
2016
February 10 J-1 70,000.00 70,000.00
February 26 J-2 71,000.00 141,000.00
February 28 J-4 141,000.00 0.00

Account: Sales Discounts Account No. 430

Date Explanation J.R. Debit Credit Balance
2016
February 12 J-1 4,000.00 4,000.00
February 23 J-2 7,840.00 11,840.00
February 28 J-4 11,840.00 0.00

Account: Purchases Account No. 510

Date Explanation J.R. Debit Credit Balance
2016
February 5 J-1 170,000.00 170,000.00

24
Guia Mae V. Estellena Grade XII - ABM - C
February 7 J-1 125,000.00 295,000.00
February 16 J-1 373,000.00 668,000.00
February 28 J-4 668,000.00 0.00

Account: Purchases Returns and Allowances Account No. 520

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-2 25,000.00 25,000.00
February 28 J-4 25,000.00 0.00

Account: Purchases Discounts Account No. 530

Date Explanation J.R. Debit Credit Balance
2016
February 2 J-1 1,920.00 1,920.00
February 8 J-1 5,100.00 7,020.00
February 28 J-4 7,020.00 0.00

Account: Transportation In Account No. 540

Date Explanation J.R. Debit Credit Balance
2016
February 9 J-1 4,000.00 4,000.00
February 24 J-2 9,000.00 13,000.00
February 28 J-4 13,000.00 0.00

Account: Salaries Expense Account No. 610

Date Explanation J.R. Debit Credit Balance
2016
February 15 J-1 51,000.00 51,000.00
February 28 J-3 51,000.00 102,000.00
February 28 J-4 102,000.00 0.00

Account: Supplies Expense Account No. 620

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 58,000.00 58,000.00
February 28 J-4 58,000.00 0.00

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Guia Mae V. Estellena Grade XII - ABM - C
Account: Insurance Expense Account No. 630
Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 2,000.00 2,000.00
February 28 J-4 2,000.00 0.00

Account: Depreciation Expense - Building Account No. 640

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 9,000.00 9,000.00
February 28 J-4 9,000.00 0.00

Account: Depreciation Expense - Equipment Account No. 650

Date Explanation J.R. Debit Credit Balance
2016
February 28 J-3 12,000.00 12,000.00
February 28 J-4 12,000.00 0.00

Account: Transportation Out Account No. 660

Date Explanation J.R. Debit Credit Balance
2016
February 18 J-1 4,000.00 4,000.00
February 28 J-4 4,000.00 0.00

Account: Advertising Expense Account No. 670

Date Explanation J.R. Debit Credit Balance
2016
February 7 J-1 6,000.00 6,000.00
February 28 J-4 6,000.00 0.00

Account: Interest Expense Account No. 680

Date Explanation J.R. Debit Credit Balance
2016
February 14 J-1 26,000.00 26,000.00
February 28 J-4 26,000.00 0.00

Account: Miscellaneous Expense Account No. 690

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Guia Mae V. Estellena Grade XII - ABM - C
Date Explanation J.R. Debit Credit Balance
2016
February 14 J-1 7,000.00 7,000.00
February 28 J-4 7,000.00 0.00

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Guia Mae V. Estellena Grade XII - ABM - C

Requirement # 5
Kayakoto Company
Closing Entries
page 4
Date Account Titles and Explanation P.R. Debit Credit
2016
February 28 Merchandise Inventory, 02/28/2016 130 397,000.00
Sales 410 1,332,000.00
Purchases Returns and Allowances 520 25,000.00
Purchases Discounts 530 7,020.00
Income Summary 330 1,761,020.00
February 28 Income Summary 330 1,472,840.00
Merchandise Inventory, 02/01/2016 130 413,000.00
Sales Returns and Allowances 420 141,000.00
Sales Discounts 430 11,840.00
Purchases 510 668,000.00
Transportation In 540 13,000.00
Salaries Expense 610 102,000.00
Supplies Expense 620 58,000.00
Insurance Expense 630 2,000.00
Depreciation Expense - Building 640 9,000.00
Depreciation Expense - Equipment 650 12,000.00
Transportation Out 660 4,000.00
Advertising Expense 670 6,000.00
Interest Expense 680 26,000.00
Miscellaneous Expense 690 7,000.00
February 28 Income Summary 330 228,180.00
Kayakoto, Capital 310 228,180.00
February 28 Kayakoto, Capital 310 400,000.00
Kayakoto, Withdrawals 320 400,000.00