Professional Documents
Culture Documents
ALFRESCO MARKETING
Schedule of Accounts Payable
As of June 30, 2011
69,387.50
87,333.00
10,000.00
2,000.00
37,600.00
15,120.00
9,103.49
8,636.91
274,510.00
200.00
3,795.40
662.50
500.00
10,000.00
1,500.00
15,466.60
10,108.13
250.00
466.58
226.80
3,847.50
71,800.00
310,441.39 378,126.34
67,684.95
378,126.34 P 378,126.34
ALFRESCO MARKETING
INCOME STATEMENT
For the month ended June 30, 2011
ASSETS
Current Assets:
Cash on Hand P 3,847.50
Cash in Bank 26,993.67
Accounts Receivable 28,965.00
Petty Cash Fund 94.65
Merchandise Inventory 71,800.00
Prepaid Supplies 250.00
Total P 131,950.82
Non-Current Assets:
Property & Equipment (Note 1) P 131,145.77
Other Assets (Note 2) 12,000.00 143,145.77
Total Assets P 275,096.59
Current Liabilities:
Trade & other Payables (Note 3) P 68,471.54
Owner's Equity:
Mariano, Mabuhay Capital 206,625.05 P 275,096.59
Note 1:
Furniture & Equipment P 69,387.50
Less: Accumulated Depreciation - Furniture & Fixtures (10,108.13) P 59,279.37
Delivery Equipment P 87,333.00
Less: Accumulated depreciation - Equipment (15,466.60) 71,866.40
Total Property & Equipment P 131,145.77
Note 3:
Accounts Payable P 37,600.00
Notes Payable 15,120.00
SS and EC Premium Payable 3,795.40
Medicare Premium Payable 662.50
Pag-ibig Premium Payable 500.00
Rent Payable 10,000.00
Utilities Payable 1,500.00
Vat Payable (466.58)
Interest Payable 226.80
Output Tax 8,636.91
Input Tax (9,103.49)
Total P 68,471.54
Closing Entries:
1.) Sales
Purchase Returns & Allownaces P 73,198.67
Purchase Discount 3,214.29
Income & Expense Summary 48.21 P 76,461.17
Note 3:
Accounts Payable P 37,600.00
Notes Payable 15,120.00
SS and EC Premium Payable 3,795.40
Medicare Premium Payable 662.50
Pag-ibig Premium Payable 500.00
Rent Payable 10,000.00
Utilities Payable 1,500.00
Vat Payable (466.58)
Interest Payable 226.80
Output Tax 8,636.91
Input Tax (9,103.49)
Total P 68,471.54