M & M Appliance Center

General Journal
Date Particulars F Debit
2006
Jan. 1 Cash in Bank 111 17,887.50
Petty Cash Fund 112 10,000.00
Notes Receivable 113 10,000.00
Accounts Receivable 114 20,671.90
Interest Receivable 115 12.00
Merchandise Inventory 116 74,672.50
Supplies Inventory 117 5,337.00
Prepaid Insurance 118 1,015.00
Excess Input Tax 119 600.00
Land 121 50,000.00
Building 122 150,000.00
Delivery Equipment 123 75,500.00
Furniture and Equipment 124 16,008.80
Allowance for Bad Debts 114.1
Accum. Depn.- Building 122.1
Accum. Depn.- Delivery Equipment 123.1
Accum. Depn.- Furniture & Equipment 124.1
Accounts Payable 211
Utilities Payable 212
SS, MCR, EC Premium Payable 214
Withholding Tas Payable 215
Loans Payable 217
Notes Payable 230
Marquez, Capital 311
#
Interst Income 811 12.00
Interest Receivable 115
#
Selling Expense 611 419.00
General Expense 711 419.00
Utilities Payable 212
#
28 Sales Return and Allowances 412 446.43
Output Tax 220 53.57
Accounts Receivable 114
#
31 Adjusting Entries:
a General Expense 954.30
Allowance for Bad Debts
#
b Selling Expense 150.00
General Expense 300.00
Supplies Inventory
#
c Selling Expense 705.59
General Expense 316.70
Accum. Depn.- Building
Accum. Depn.- Delivery Equipment
Accum. Depn.- Furniture & Equipment
#
d Selling Expense 374.00
General Expense 348.70
SS, MCR, EC Premium Payable
#
e Selling Expense 445.00
General Expense 445.00
Utilities Payable
#
f Selling Expense 169.17
General Expense 169.16
Prepaid Insurance
#
g Output Tax 8,309.57
Input Tax
VAT Payable
#
h Bank Charge 25.00
Cash in Bank
#
i Income Tax Provision 5,400.04
Tax Payable
#
j Merchandise Inventory 75,500.00
Income and Expense Summary
#
Credit

1,033.60
6,000.00
3,888.89
1,467.44
34,068.30
838.00
3,971.10
1,100.00
8,333.33
120,000.00
2,330,040.04

12.00

838.00

500.00

954.30
 450.00

500.00
388.89
133.40

722.70

890.00

338.33

5,254.96
3,054.61

25.00

5,400.04

75,500.00