1.

general journal

101 CASH
102 SUPPLIES
103 EQUIPMENT
104 CAPITAL
105 MERCHANDISE
106 A/P
107 AR
108 FREIGHT IN
109 FREIGHT 0N

DATE DESCRIPTION REF DEBIT

04/01/19 CASH 101 39000
CAPITAL(LOPEZ, CAPITAL) 104
04/02/19 EQUIPMENT 103 10000
CASH (BOUGHT COMPUTER) 101
04/02/19 PURCHASES 105 15900
A/P (LOWTOWN SUPPLY CO.) 106
04/03/19 SUPPLIES 102 700
CASH (OFFICE SUPPLIES) 101
04/04/19 A/R 107 15200
SALES (SOLD MERCHANDISE) 105
5 FREIGHT OUT 109 200
CASH 108
6 A/P 106 300
PURCHASES RETURN AND ALLOWANCES 105
11 A/P 106 15600
CASH 101
PURCHASES DISCOUNT
13 CASH 14896
SALES DISCOUNT 304
A/R
14 PURCHASES 14400
CASH (BOUGHT MERCHANDISE)
15 SALARIES 1500
CASH
16 CASH 12000
NOTES PAYABLE
17 CASH 500
PURCHASE RETURN AND ALLOWANCES
18 PURCHASES 14200
A/P
20 FREGHT IN 700
CASH
23 CASH 16400
SALES
26 PURCHASES 12300
CASH
27 A/P 9000

Page 1
 1. general journal

CASH
28 LOPES DRAWINGS 2008
CASH
29 SALES RETURN AND ALLOWANCES 900
CASH
30 A/R 13700
SALES
30 ADVERTISING 1000
30 UTILITIES 400
RENT 3500
SALARIES 1500
CASH

Page 2
 1. general journal

CREDIT

39000

10000

15900

700

15200

200

300

15288
312

15200

14400

1500

12000

500

14200

700

16400

12300

Page 3
 1. general journal

9000

2008

900

13700

6400

Page 4
 2.general ledger

CAPITAL(LOPE
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT DATE
04/01/19 39000 39000 04/01/19
04/02/19 10000 29000
04/03/19 700 28300
04/05/19 200 28100
04/11/19 15288 12812
04/13/19 14896 27708

9400

SUPPLIES A/R
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT DATE
04/03/19 700 700 04/04/19
04/13/19
04/30/19

700

SALARIES NOTES PA
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT DATE
04/15/19 1500 1500 04/16/19
04/30/19 1500 3000

3000

RENT
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT
04/30/19 3500 3500

Page 5
2.general ledger

3500

Page 6
 2.general ledger

CAPITAL(LOPEZ, CAPITAL) EQUIPMENT

BALANCE BALANCE
DEBIT CREDIT DEBIT CREDIT DATE DEBIT
39000 39000 04/02/19 10000

3900

A/R SALES (SOLD MERCHANDISE

BALANCE BALANCE
DEBIT CREDIT DEBIT CREDIT DATE DEBIT
15200 15200 04/04/19
15200 0 04/23/19
13700 13700 04/30/19

13700

NOTES PAYABLE FREGHT IN

BALANCE BALANCE
DEBIT CREDIT DEBIT CREDIT DATE DEBIT
12000 0 12000 04/20/19 700

12000

Page 7
 2.general ledger

EQUIPMENT PURCHASES
BALANCE BALANCE
CREDIT DEBIT CREDIT DATE DEBIT CREDIT
10000 04/02/19 15900
04/14/19 14400
04/18/19 14200
04/26/19 12300

10000

SALES (SOLD MERCHANDISE) FREIGHT OUT

BALANCE BALANCE
CREDIT DEBIT CREDIT DATE DEBIT CREDIT
15200 15200 04/05/19 200
16400 31600
13700 45300

45300

FREGHT IN LOPES DRAWINGS

BALANCE BALANCE
CREDIT DEBIT CREDIT DATE DEBIT CREDIT
700 04/28/19 2008

700

Page 8
 2.general ledger

PURCHASES A/P (LOWTOWN SUPPLY CO.)

BALANCE BALANCE BALANCE
DEBIT CREDIT DATE DEBIT CREDIT DEBIT
15900 04/02/19 15900
30300 04/09/19 300
44500 04/11/19 15600
56800 04/18/19 14200
04/27/19 9000

56800

REIGHT OUT PURCHASES RETURN AND ALLOWANCES

BALANCE BALANCE BALANCE
DEBIT CREDIT DATE DEBIT CREDIT DEBIT
200 04/09/19 300
04/17/19 500

200

ES DRAWINGS SALES RETURN AND ALLOWANCES

BALANCE BALANCE BALANCE
DEBIT CREDIT DATE DEBIT CREDIT DEBIT
2008 04/29/19 900 900

2008 900

Page 9
 2.general ledger

PLY CO.) MERCHANDISE INVENTORY

BALANCE BALANCE BALANCE
CREDIT DATE DEBIT CREDIT DEBIT CREDIT
15900 04/30/19 25000 25000
15600
0
14200
5200

5200 25000

ALLOWANCES PURCHASES DISCOUNT

BALANCE BALANCE BALANCE
CREDIT DATE DEBIT CREDIT DEBIT CREDIT
300 04/11/19 0 312 0 312
800

800 312

OWANCES ADVERTISING
BALANCE BALANCE BALANCE
CREDIT DATE DEBIT CREDIT DEBIT CREDIT
04/30/19 1000 1000

1000

Page 10
 2.general ledger

SALES DISCOUNT
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT
04/13/19 304 304

304

UTILITIES
BALANCE BALANCE
DATE DEBIT CREDIT DEBIT CREDIT
04/30/19 400 400

400

Page 11
 3. cost of good sold

DOLE DITRIBUTORS
COST OF GOOD SOLD
FOR THE PERIOD ENDED APRIL 30, 2016

PURCHASES 56,800.00
LESS: PURCHASE RETURN & DISCOUNT -800.00
PURCHASE DISCOUNT -312.00
NET PURCHASE: 55,688.00
ADD: FREIGHT IN 700.00 DOUBLE LINES
TOTAL AVAILABLE FOR SALE 56,388.00
LESS: MERCHANDISE INVENTORY 25,000.00
TOTAL COST OF GOOD SOLD 31,388.00

Page 12
 4. INCOME STATEMENT

DOLE DITRIBUTORS
INCOME STATEMENT/ STATEMENT OF PERFORMANCE
FOR THE PERIOD ENDED APRIL 30, 2016

SALES 45,300.00
LESS: SALES RET AND ALLOWANCES -900.00
SALES DISCOUNT -304.00
NET SALES: 44,096.00
LESS: COST OF GOOD SOLD -31,388.00
GROSS PROFIT FROM SALES 12,708.00
LESS: OPERATING EXPENSE
FREIGHT OUT 200.00
RENT 3,500.00
SALARIES 3000 DOUBLE LINES
UTILITIES 400
ADVERTISEMENT 1000
NET INCOME 4608

Page 13
 5. owner equity

DOLE DITRIBUTORS
STATEMENT OF EQUITY
FOR THE PERIOD ENDED APRIL 30, 2016

BEGINNING CAPITAL 39,000.00

LESS: DRAWINGS 2008.00 DOUBLE LINES
TOTAL 36,992.00
ADD: NET INCOME 4,608.00
ENDING BALANCE 41,600.00

Page 14
 6. balance sheet

DOLE DITRIBUTORS
BALANCE SHEET
FOR THE PERIOD ENDED APRIL 30, 2016

ASSET
CURRENT:
CASH 9,400.00
A/R 13,700.00
SUPPLIES 700.00
MERCHANDISED INVENTORY 25,000.00 48,800.00 Underline bu
NON CURRENT: double
lines,hehe
EQUIPMENT 10,000.00 10,000.00
TOTAL ASSETS: 58,800.00

LIABILITIES AND EQUITY

CURRENT: A/P 5200
NON CURRENT: N/P 12000 17,200.00

OWNERS EQUITY
Underline bu
R. CAPITAL 41600 41,600.00 double
lines,hehe
TOTAL LIABILITIE AND OWNERS EQUITY 58800.00

NOTE:
ASSET = LIABILTIES + OWNERS EQUITY
DMU XA MABABALANCE KPAG HINDI MU GINAWA OWNERS EQUITY

Page 15
 6. balance sheet

Underline bu
double
lines,hehe

Underline bu
double
lines,hehe

Page 16
 7. cash flow

DOLE DITRIBUTORS
CASHFLOW STATEMENT
FOR THE PERIOD ENDED APRIL 30, 2016

1. CASHFLOW FROM OPERATING EXPENSE

CASH RECIEVED FROM:

COLLECTION FROM CusTOMER 14,896.00
RETURN FROM SUPPLIER 500.00
CASH SALES 16,400.00 31,796.00
CASH PAYMENT
PURCHASE OFFICE SUPPLIES 700.00
FREIGHT OUT 200.00
PAID SUPPLIER 15,288.00
PURCHASE MERCHANDISED 14,400.00
SALARIES AND WAGES 1,500.00
FREIGHT IN 700.00
PAID SUPPLIER 12,300.00
9,000.00
REFUND 900.00
OPERATING EXPENSE 6,400.00 61,388.00
2. CASH FLOW INVESTING ACTIVITIES
PURCHASE EQUIPMENT 10,000.00 10,000.00

3. CASH FLOW FROM FINANCIAL ACTIVITIES

INITIAL INVESTMENT 39,000.00
LOAN FROM BANK 12,000.00
DRAWINGS -2,008.00 48,992.00

DOUBLE LINES
INCREASE IN CASH 9400
BEGINNING BALANCE 0
ENDING BALANCE 9400

Page 17
 8. closing JOURNAL entries

DOLE DITRIBUTORS
CLOSING JOURNAL ENTRIES
FOR THE PERIOD ENDED APRIL 30, 2016
DATE
04/30/19 SALES 45,300.00
SALES RETURN AND ALLOWANCES 900.00
SALES DISCOUNT 304.00
INCOME SUMMARY 44,096.00
TO CLOSED SALES ACCOUNT

04/30/19 INCOME SUMMARY 31,388.00

MERCHADISE INVENTORY 25,000.00
PURCHASE RETURN AND ALLOWANCES 800.00
PURCHASE DISCOUNT 312.00
PURCHASES 56,800.00
FREIGHT IN 700.00
TO CLOSE PURCHASE ACCOUNT

04/30/19 INCOME SUMMARY 8,100.00

FREIGHT OUT 200.00
RENT EXPENSE 3,500.00
ADVETISEMENT EXPENSE 1,000.00
SALARIES EXP. 3,000.00
UTILITY EXP. 400.00
TO CLOSED OPERATING EXPENSE

04/30/19 INCOME SUMMARY 4,608.00

LOPEZ CAPITAL 4,608.00
TO CLOSED INCOME

04/30/19 LOPEZ, CAPITAL 2,008.00

LOPEZ DRAWINGS 2,008.00

NOTE: DAPAT BALANCE BOTh DEBIT AND CREDIT

Page 18
 8. closing JOURNAL entries

NOTE: DAPAT BALANCE BOTh DEBIT AND CREDIT

Page 19
 10. POST CLOSING TRIAL BALANCE

DOLE DITRIBUTORS
POST CLOSING TRIAL BALANCE TIP: KUNG AN
FOR THE PERIOD ENDED APRIL 30, 2016 STATEMENT U

CASH 9,400.00
ACCOUNTS RECEIVABLE 13,700.00
MERCHANDISE INVENTORY 25,000.00
SUPPLIES 700.00
EQUIPMENT 10,000.00
ACCOUNTS PAYABLE 5,200.00
NOTES PAYABLE 12,000.00
LOPEZ, CAPITAL 41,600.00
58,800.00 58,800.00

DOUBLE
DOUBLE LINE LINE

Page 20
 10. POST CLOSING TRIAL BALANCE

TIP: KUNG ANU NAKALAGAY SA INCOME

STATEMENT UN DIN PAGKAKASUNOD DITO.

DOUBLE
LINE

Page 21