KASHATO SHIRTS

WORKSHEET
October 31, 2015
UNADJUSTED ADJUSTED INCOME
TRIAL BALANCE ADJUSTMENTS TRIAL BALANCE STATEMENT
NO. ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT
100 Cash 854,252.66 22,400.00 876,652.66
101 Petty Cash 16,000.00 16,000.00
110 Notes Receivable 33,600.00 33,600.00
111 Interest Receivable 0.00 134.40 134.40
112 Accounts Receivable 188,160.00 22,400.00 165,760.00
113 Allowance for Uncollectible Accounts 2,688.00 4,771.20 7,459.20
120 Merchandise Inventory 871,200.00 871,200.00 871,200.00
130 Supplies 32,272.00 22,772.00 9,500.00
140 Prepaid Insurance 12,750.00 2,750.00 10,000.00
141 Prepaid Rent 150,000.00 50,000.00 100,000.00
150 Furniture and Fixtures 676,000.00 676,000.00
151 Accum. Dep. - Furniture & Fixture 74,250.00 7,056.00 81,306.00
152 Equipment 735,000.00 735,000.00
153 Accum. Dep. - Equipment 134,500.00 12,250.00 146,750.00
154 Service Vehicle 410,000.00 410,000.00
155 Accum. Dep. - Service Vehicle 33,000.00 5,500.00 38,500.00
160 Rent Deposit 150,000.00 150,000.00
161 Utilities Deposit 18,500.00 18,500.00
200 Notes Payable 0.00
201 Interest Payable 0.00
202 Accounts Payable 482,048.00 482,048.00
210 Salaries Payable
211 SSS and EC Contribution Payable 0.00 15,650.00 15,650.00
212 Philhealth Contribution Payable 0.00 5,175.00 5,175.00
213 PAG-IBIG Contribution Payable 0.00 1,800.00 1,800.00
214 Withholding Tax Payable 0.00 34,721.02 34,721.02
220 Rent Payable
221 Utilities Payable
230 Value Added Tax Payable 123,050.40 123,050.40
230-1 Input Vat 0.00
230-2 Output Vat 14,052.00 14,052.00
240 Voucher's Payable 662,444.42 662,444.42
300 Therese Ballada , Capital 2,501,008.67 2,501,008.67
301 Therese Ballada, Withdrawals 205,000.00 205,000.00
400 Sales 1,896,200.00 1,896,200.00
401 Sales Discounts 5,640.00 5,640.00 5,640.00
402 Sales Returns and Allowances 4,000.00 4,000.00 4,000.00
410 Interest Income 1,600.00 134.40 1,734.40
500 Purchases 684,400.00 684,400.00 684,400.00
501 Transportation IN 4,000.00 4,000.00 4,000.00
502 Purchases Discounts 10,400.00 10,400.00
503 Purchases Returns and Allowances 10,000.00 10,000.00
600 Advertising Expense 8,000.00 8,000.00 8,000.00
601 Supplies Expense 22,772.00 22,772.00 22,772.00
602 Insurance Expense 2,750.00 2,750.00 2,750.00
603 Rent Expense 50,000.00 50,000.00 50,000.00
604 Utilities Expense 22,300.00 22,300.00 22,300.00
605 Repairs and maintenance Expense 7,400.00 7,400.00 7,400.00
610 Salaries Expense 233,000.00 233,000.00 233,000.00
611 SSS and EC Contribution Expense 10,563.60 10,563.60 10,563.60
612 Philhealth Contribution Expense 2,587.50 2,587.50 2,587.50
613 PaG-IBIG Contribution Expense 900.00 900.00 900.00
620 Uncollectible Accounts Expense 4,771.20 4,771.20 4,771.20
630 Dep. Exp. - Furniture and Fixture 7,056.00 7,056.00 7,056.00
631 Dep. Exp. - Equipment 12,250.00 12,250.00 12,250.00
632 Dep. Exp - Service vehicle 5,500.00 5,500.00 5,500.00
640 Miscellaneous Expense 784.00 784.00 784.00
650 Interest Expense 3,833.33 3,833.33 3,833.33
TOTALS 5,340,143.09 5,340,143.09 790,078.02 790,078.02 5,369,854.69 5,369,854.69 1,963,707.63
NET INCOME 654,986.77
0.00 2,618,694.40
 INCOME BALANCE SHEET
STATEMENT
CREDIT DEBIT CREDIT
876,652.66
16,000.00
33,600.00
134.40
165,760.00
7,459.20
700,360.00 700,360.00
9,500.00
10,000.00
100,000.00
676,000.00
81,306.00
735,000.00
146,750.00
410,000.00
38,500.00
150,000.00
18,500.00

482,048.00

15,650.00
5,175.00
1,800.00
34,721.02

123,050.40
 14,052.00

2,501,008.67
205,000.00
1,896,200.00

1,734.40

10,400.00
10,000.00

2,618,694.40 4,106,507.06 3,451,520.29

654,986.77
2,618,694.40 4,106,507.06 4,106,507.06
 Kashato Shirt Company
Income Statement
For the Month Ended Oct. 31, 2015

Net Sales
Gross Sales
Sales Discounts 5,640.00
Sales Returns and Allowances 4,000.00
Less:
Net Sales
Cost of Goods Sold
Merchandise Iinventory 10/1/10 871,200.00
Add:Purchases 684,400.00
Purchases Discounts 10,400.00
Purchases Returns and Allowances 10,000.00
Less: 20,400.00
Add:Transportation IN 4,000.00
Available for Sale
Less:Merchandise Iinventory 10/31/10
Cost of Sales
Gross Profit
Operating Expenses
Selling Expenses
Advertising Expense 8,000.00
Supplies Expense 22,772.00
Insurance Expense 2,750.00
Total:Selling Expenses
Rent Expense 50,000.00
Utilities Expense 22,300.00
Repairs and maintenance Expense 7,400.00
Salaries Expense 233,000.00
SSS and EC Contribution Expense 10,313.60
Philhealth Contribution Expense 2,587.50
PaG-IBIG Contribution Expense 900.00
Uncollectible Accounts Expense 4,771.20
Dep. Exp. - Furniture and Fixture 7,056.00
Dep. Exp. - Equipment 12,250.00
Dep. Exp - Service vehicle 5,500.00
Miscellaneous Expense 784.00
Interest Expense 3,833.33
Total:Admistrative Expenses
Total:Operating Expense

Add: Interest Income

Profit
y

1, 2015

1,896,200.00

9,640.00
1,886,560.00

1,539,200.00
700,360.00
838,840.00

33,522.00

360,695.63
394,217.63

1,734.40
655,236.77
 Kashato Shirt Company
Statement of Changes in Equity
For the Month Ended Oct. 31, 2015

Therese Ballada , Owners Equity 10/1/13

Add:Profit
Total
Less:Withdrawal
Therese Ballada , Owners Equity 10/31/13
 2,501,008.67
655236.77
3,156,245.44
205,000.00
2,951,245.44
 Kashato Shirt Company
Balance Sheet
Oct. 31, 2015

ASSETS
Current Assets
Cash 876,653.66
Petty Cash 16,000.00
Notes Receivable 33,600.00
Interest Receivable 134.40
Accounts Receivable 165,760.00
Allowance for Uncollectible Accounts
Merchandise Inventory 700,360.00
Supplies 9,500.00
Prepaid Insurance 10,000.00
Prepaid Rent 100,000.00
Total Current Assets
Non-current Assets
Furniture and Fixtures 676,000.00
Accum. Dep. - Furniture & Fixture
Equipment 735,000.00
Accum. Dep. - Equipment
Service Vehicle 410,000.00
Accum. Dep. - Service Vehicle
Rent Deposit 150,000.00
Utilities Deposit 18,500.00
Total Non-current Assets
Total Assets

LIABILITIES
Current Liabilities
Accounts Payable
SSS and EC Contribution Payable
Philhealth Contribution Payable
PAG-IBIG Contribution Payable
Withholding Tax Payable

Value Added Tax Payable

Total Liabilities
OWNERS EQUITY
Therese Ballada , Owners Equity 10/31/13
Total Liabilities and Owners Equity
pany

7,459.20

1,904,548.86

81,306.00

146,750.00

38,500.00

1,722,944.00
3,627,492.86

482,049.00
15,400.00
5,175.00
1,800.00
34,721.02
14,052.00
123,050.40
676,247.42
Y
2951245.44
3,627,492.86 0.00
 Kashato Shirts
Bank Reconciliation
31-Oct-15

Balance per book

Add: Note collected by bank
Adjusted book balance

Balance per Bank

Add: Deposit in Transit
Total
Less: Outstanding Checks
Check No. 81213 16,800.00
Check No. 81214 8,176.00
Check No. 81215 8,960.00
Adjusted bank balance
 876,653.66
22,400.00
854,253.66

₱865,588.66
45,000.00

33,963.00
₱876,625.66 (₱22,372.00)
 Kashato Shirt Company
Post closing Trial Balance
31-Oct-15

Cash 876,653.66
Petty Cash 16,000.00
Notes Receivable 33,600.00
Interest Receivable 134.40
Accounts Receivable 165,760.00
Allowance for Uncollectible Accounts
Merchandise Inventory 700,360.00
Supplies 9,500.00
Prepaid Insurance 10,000.00
Prepaid Rent 100,000.00
Furniture and Fixtures 676,000.00
Accum. Dep. - Furniture & Fixture
Equipment 735,000.00
Accum. Dep. - Equipment
Service Vehicle 410,000.00
Accum. Dep. - Service Vehicle
Rent Deposit 150,000.00
Utilities Deposit 18,500.00
Accounts Payable
SSS and EC Contribution Payable
Philhealth Contribution Payable
PAG-IBIG Contribution Payable
Withholding Tax Payable

Value Added Tax Payable

Therese Ballada , Owners Equity 10/31/13
Total 3,901,508.06
 7,459.20

81,306.00

146,750.00

38,500.00

482,049.00
15,400.00
5,175.00
1,800.00
34,721.02
14,052.00
123,050.40
2951245.44
3,901,508.06
 KASHATO SHIRTS
STATEMENT OF CASH FLOWS
For the month ended October 31, 2015

CASH FLOWS FROM OPERATING ACTIVITIES

Cash received from clients
Payments to suppliers
Payments to employess
Payments to office rent
Payments for maintenance
Payments to office rent
Payments for merchandise inventory
Net cash provided by (used in ) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire service vehicle
Payments to acquire equipment
Payments to acquire equipment
Payments to acquire equipment
Net cash provided by (used in ) financing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received as investments by owner
Payments for withdrawals by owner
Net Increase in Cash
Cash balance 3/01/10
Cash balance 3/31/10
S
015

87808
26880

2688

1120