Journal Entry
ALFRESCO MARKETING
Journal Entry
June 30, 2018
June 1,
Furniture and Equipment
2018
201
Mabuhay, Capital
₱
30,000.00
₱
30,000.00
501
To record purchase of laptop recorded as additional investment
June 2,
Rent Payable
2018
Utilities Payable
408
₱
10,000.00
409
₱ 1,000.00
Creditable Income Tax Withheld
410
₱ 500.00
Cash in Bank
102
₱
10,500.00
To record rent and utilities payable less 5% creditable Income Tax
Withheld for the month of May
June 2,
VAT Payable
2018
411
Cash in Bank
₱ 2,058.15
₱ 2,058.15
102
To record payment to BIR for the VAT
June 2,
Withholding Taxes Payable
2018
406
Cash in Bank
₱ 729.88
₱ 729.88
102
To record payment to BIR for withholding tax
June 2,
Cash on Hand
2018
101
₱ 3,158.75
Sales Discount
602
₱ 166.25
Output Tax
411.2
₱ 356.25
Sales
601
₱ 2,968.75
To record sales to Dr. Eva Perez with a 5% sales discount
June 3,
Cash on Hand
2018
Accounts Receivable
101
₱ 1,235.00
104
₱ 3,705.00
Output Tax
411.2
₱ 529.29
Sales
601
₱ 4,410.71
To record sales to Philippine Christian House in terms of 25% dp with
check number PNB 1008848
June 4,
Cash in Bank
2018
102
₱ 6,547.50
Sales Discount
602
₱ 180.80
Output Tax
411.2 ₱ 21.70
Accounts Receivable
₱ 6,750.00
104
To record collection of pending payment of International Supermarket
for May in terms of 3/7, n/15 with check number 789321
June 4,
Repairs & Maintenance Expense
2018
814
Petty Cash Fund
₱ 1,000.00
₱ 1,000.00
103
To record repair and maintenance expense on petty cash fund
June 6,
Cash in Bank
2018
102
Accounts Receivable
104
₱ 9,825.00
₱ 9,825.00
To record collection of pending payment of Zen's Spa with check
number 542310
June 6,
Cash in Bank
2018
102
Cash on Hand
₱
24,393.75
₱
24,393.75
101
To record collections deposits from June 1 to 6 including the deposit
in transit
June 7,
Mabuhay, Personal
2018
502
Petty Cash Fund
₱ 200.00
₱ 200.00
103
To record petty cash withdrawal of Mr. Mabuhay for personal use
June 7,
Cash on Hand
2018
Accounts Receivable
101
₱ 4,050.00
104
₱
12,150.00
Output Tax
411.2
₱ 1,735.71
Sales
601
₱
14,464.29
To record sales from Shop Here Supermarket in terms of 25% dp with
BPI Check 980314
June 8,
Pag-ibig Premiums Expense
2018
806
₱ 1,000.00
SS and EC Premiums Expense
809
₱ 8,950.00
Medicare Premiums Expense
807
₱ 5,940.00
Cash on Hand
To record payment of pag-ibig, SS and Ec, and Medicare premiums
expense
101
₱
15,890.00
June 8,
Accounts Payable
2018
401
₱ 2,700.00
Purchase Discount
703
₱ 54.00
Cash in Bank
102
₱ 2,646.00
To record settlement of accounts payable to Ever Bright Candles
June 8,
Gas and Oil
2018
VAT Payable
Petty Cash Fund
805
₱ 446.43
411
₱ 53.57
₱ 500.00
103
To record petty cash fund paid on gas and oil
June 9,
Cash on Hand
2018
101
₱ 3,800.00
Output Tax
411.2
₱ 407.14
Sales
601
₱ 3,392.86
To record sold gooods to Joni Bulatao on cash
June 9,
Creditable Income Tax Withheld
2018
410
Cash on Hand
₱ 500.00
₱ 500.00
101
To record payment of creditable income tax withheld to BIR
June 9,
Accounts Payable
2018
401
Cash on Hand
To record settlement of accounts of the month of May to Nature's Best
101
₱ 5,850.00
₱ 5,850.00
June 10,
Cash on Hand
2018
101
Accounts Receivable
₱ 3,705.00
₱ 3,705.00
104
To record the payment of Philippine Christian House with PNB Chk.
108873
June 10,
Furniture and Equipment
2018
201
₱
13,500.00
411.1 ₱ 1,620.00
Input Tax
Accounts Payable
₱
15,120.00
401
To record the purchase of furniture to Hall of Fame
June 11,
Petty Cash Fund
2018
103
Cash on Hand
₱ 1,700.00
₱ 1,700.00
101
To record the replenishment of Petty Cash Fund
June 11,
Cash on Hand
2018
Accounts Receivable
101
₱ 3,700.00
104
₱
11,100.00
Output Tax
411.2
₱ 1,585.71
Sales
601
₱
13,214.29
To record sales from Vasquez Grocery with PCIB Chk 542347 for the
down payment
June 11,
Purchases
2018
VAT Payable
Accounts Payable
701
₱
20,892.86
411
₱ 2,507.14
401
₱
23,400.00
To record the purchase of goods from Nature Best Co.'s
June 13,
Supplies Expense
2018
811
₱ 275.00
411.1 ₱ 33.00
Input Tax
Petty Cash Fund
₱ 308.00
103
To record the purchase of supplies on petty cash
June 13,
Cash in Bank
2018
102
Cash on Hand
₱
15,225.00
₱
15,225.00
101
To record the collections deposited
June 14,
Cash on Hand
2018
101
Accounts Receivable
₱
12,150.00
₱
12,150.00
104
To record the collections of accounts receivable from Shop Here
Supermarket with BPI Chk 980346
June 14,
Accounts Payable
2018
401
Cash on Hand
₱
11,700.00
₱
11,700.00
101
To record the 50% account due payment to Nature's Best Co on
account
June 15,
Cash on Hand
2018
Accounts Receivable
Output Tax
101
₱ 1,005.00
104
₱ 3,015.00
411.2
₱ 430.71
Sales
₱ 3,589.29
601
To record the sold goods to Paula's Mini Mart on cash
June 15,
Salaries Expense
2018
810
₱
54,000.00
Withholding Taxes Payable
406
₱ 364.94
Pag-ibig Premiums Payable
405
₱ 250.00
SS and EC Premiums Payable
403
₱ 1,453.25
MCR Premiums Payable
404
₱ 1,485.00
Cash in Bank
102
₱
50,446.81
To record salaries expense on cash in bank
June 15,
Purchases
2018
701
₱
38,571.43
411.1 ₱ 4,628.57
Input Tax
Accounts Payable
₱
43,200.00
401
To record the purchases to Wonder Cash on account
June 17,
Repairs & Maintenance Expense
2018
814
₱ 403.62
411.1 ₱ 48.43
Input Tax
Petty Cash fund
₱ 452.05
103
To record repair service expense to Extelcom on petty cash fund
June 17,
Cash on Hand
2018
101
₱ 2,850.00
Output Tax
411.2
₱ 305.36
Sales
601
₱ 2,544.64
To record sales from Marietta Milan
June 18,
Cash in Bank
2018
102
Cash on Hand
₱
16,005.00
₱
16,005.00
101
To record the collections deposited
June 20,
Accounts Receivable
2018
104
₱ 3,600.00
Input Tax
411.1
₱ 385.71
Purchase Return & Allowances
704
₱ 3,214.29
To record the return good to Wonder Care on account
June 22,
Repairs & Maintenance Expense
2018
814
₱ 710.10
411.1 ₱ 85.20
Input Tax
Petty Cash Fund
₱ 795.30
103
To record petty cash paid for repairs.
June 22,
Cash on Hand
2018
Accounts Receivable
101
₱ 4,200.00
104
₱
12,600.00
Output Tax
411.2
₱ 1,800.00
Sales
601
₱
15,000.00
To record sales from Fairview Grand Hotel with BPI Chk 412859
June 23,
Cash on Hand
2018
101
₱ 2,850.00
Accounts Receivable
104
₱ 8,550.00
Output Tax
411.2
₱ 1,221.43
Sales
601
₱
10,178.57
To record sales from International Supermarket with Citibank Chk
789340
June 23,
Accounts Payable
2018
401
Cash in Bank
₱
19,800.00
₱
19,800.00
102
To record the payment on half of the account to Wonder Care
June 25,
Purchases
2018
701
₱ 4,821.43
411.1 ₱ 578.57
Input Tax
Cash on Hand
₱ 5,400.00
101
To record purchases from Ever Bright
June 27,
Cash on Hand
2018
101
Accounts Receivable
₱ 6,300.00
₱ 6,300.00
104
To record the collections of accounts receivable from Shop Here
Supermarket with BPI Chk 980346
June 27,
Cash in Bank
2018
102
Cash on Hand
To record collections deposited
101
₱
13,350.00
₱
13,350.00
June 28,
Gas and Oil
2018
805
₱ 312.50
411.1 ₱ 37.50
Input Tax
Petty Cash Fund
₱ 350.00
103
To record petty cash fund paid on gas and oil
June 29,
Cash on Hand
2018
101
₱ 3,847.50
Output Tax
411.2
₱ 412.23
Sales
601
₱ 3,435.27
To record the sold goods on cash
June 30,
Salaries Expense
2018
810
₱
54,000.00
SS and EC Premiums Payable
403
₱ 364.94
Pag-ibig Premiums Payable
405
₱ 250.00
MCR Premiums Payable
404
₱ 1,453.25
Withholding Taxes Payable
406
₱ 1,485.00
Cash on Hand
101
₱
50,446.81
To record cash paid on employee's salary
General Ledger
ALFRESCO MARKETING
Journal Entry
June 30, 2018
Account: Cash on Hand
Balance
Date
Particulars
F
Debit
Credit
Debit
Credit
2
To record sales to Dr. Eva Perez with a 5% sales
discount
101 3,158.75
3,158.75
3
To record sales to Philippine Christian House in
terms of 25% dp with check number PNB
1008848
101 1,235.00
4,393.75
6
To record collections deposits from June 1 to 6
including the deposit in transit
101
7
To record sales from Shop Here Supermarket in
terms of 25% dp with BPI Check 980314
101 4,050.00
8
To record payment of pag-ibig, SS and Ec, and
Medicare premiums expense
101
9
To record sold gooods to Joni Bulatao on cash
101 3,800.00
9
To record payment of creditable income tax
withheld to BIT
101
500.00
(24,146.25)
9
To record settlement of accounts of the month of
May to Nature's Best
101
5,850.00
(29,996.25)
10
To record the payment of Philippine Christian
House with PNB Chk. 108873
101 3,705.00
11
To record the replenishment of Petty Cash Fund
101
11
To record sales from Vasquez Grocery with PCIB
101 3,700.00
Chk 542347 for the down payment
13
To record the collections deposited
101
14
To record the collections of accounts receivable
from Shop Here Supermarket with BPI Chk
980346
101 12,150.00
20,000.00
(15,606.25)
(11,556.25)
15,890.00
(27,446.25)
(23,646.25)
(26,291.25)
1,700.00
(27,991.25)
(24,291.25)
15,225.00
(39,516.25)
(27,366.25)
14
To record the 50% account due payment to
Nature's Best Co on account
15
To record the sold goods to Paula's Mini Mart on
101 1,005.00
cash
(38,061.25)
17
To record sales from Marietta Milan
101 2,850.00
(35,211.25)
18
To record the collections deposited
101
22
To record sales from Fairview Grand Hotel with
BPI Chk 412859
101 4,200.00
(47,016.25)
23
To record sales from International Supermarket
with Citibank Chk 789340
101 2,850.00
(44,166.25)
25
To record purchases from Ever Bright
101
27
To record the collections of accounts receivable
from Shop Here Supermarket with BPI Chk
980346
101 6,300.00
27
To record collections deposited
101
29
To record the sold goods on cash
101 3,847.50
30
To record cash paid on employee's salary
101
Account:
Cash In Bank
Date
Particulars
101
11,700.00
(39,066.25)
16,005.00
(51,216.25)
5,400.00
(49,566.25)
(43,266.25)
13,350.00
(56,616.25)
(52,768.75)
50,446.81
(103,215.56)
Balance
F
Debit
Credit
Debit
2
To record rent and utilities payable less 5%
creditable Income Tax Withheld for the month of 102
May
Credit
10,500.00
10,500.00
2
To record payment to BIR for the VAT
102
2,058.15
12,558.15
2
To record payment to BIR for withholding tax
102
729.88
13,288.03
4
To record collection of pending payment of
International Supermarket for May in terms of 3/7, 102 6,547.50
n/15 with check number 789321
6
To record collection of pending payment of Zen's
102 9,825.00
Spa with check number 542310
6
To record collections deposits from June 1 to 6
including the deposit in transit
102 20,000.00
6,740.53
3,084.47
23,084.47
8
To record settlement of accounts payable to Ever
Bright Candles
13
To record the collections deposited
15
To record salaries expense on cash in bank
18
To record the collections deposited
23
To record the payment on half of the account to
Wonder Care
27
To record collections deposited
102
2,646.00 20,438.47
102 15,225.00
102
35,663.47
50,446.81
102 16,005.00
102
14,783.34
1,221.66
19,800.00
18,578.34
102 13,350.00
5,228.34
Account: Petty Cash Fund
Balance
Date
Particulars
F Debit
Credit
Debit Credit
4
To record repair and maintenance expense on petty cash fund
1,000.00
1000.00
7
To record petty cash withdrawal of Mr. Mabuhay for personal
use
200.00
1200.00
8
to record petty cash fund paid on gas and oil
500.00
1700.00
11
To record the replenishment of Petty Cash Fund
13
To record the purchase of supplies on petty cash
308.00
308.00
17
To record repair service expense to Extelcom on petty cash
fund.
452.05
760.05
22
To record petty cash paid for repairs.
795.30
1555.35
28
To record petty cash fund paid on gas and oil
350.00
1905.35
1,700.00
0.00 0.00
Account: Accounts Receivable
Balance
Date
Particulars
F Debit
Credit
Debit
3
To record sales to Philippine Christian House in terms
of 25% dp with check number PNB 1008848
4
To record collection of pending payment of
International Supermarket for May in terms of 3/7,
n/15 with check number 789321
3,705.00
Credit
3,705.00
6,750.00
3045.00
6
To record collection of pending payment of Zen's Spa
with check number 542310
7
To record sales from Shop Here Supermarket in terms
of 25% dp with BPI Check 980314
10
To record the payment of Philippine Christian House
with PNB Chk. 108873
11
To record sales from Vasquez Grocery with PCIB Chk
542347 for the down payment
14
To record the collections of accounts receivable from
Shop Here Supermarket with BPI Chk 980346
15
To record the sold goods to Paula's Mini Mart on cash
3,015.00
20
To record the return good to Wonder Care on account
3,600.00
1,140.00
22
To record sales from Fairview Grand Hotel with BPI
Chk 412859
12,600.00
13,740.00
23
To record sales from International Supermarket with
Citibank Chk 789340
8,550.00
22,290.00
27
To record the collections of accounts receivable from
Shop Here Supermarket with BPI Chk 980346
9,825.00
12870.00
12,150.00
720.00
3,705.00
11,100.00
4425.00
6,675.00
12,150.00
5475.00
2460.00
6,300.00 15,990.00
Account: Furniture & Equipment
Balance
Date
Particulars
F
Debit
Credit
Debit
1
To record purchase of laptop recorded as additional
investment
201 30,000.00
30,000.00
10
To record the purchase of furniture to Hall of Fame
201 13,500.00
43,500.00
Account: Accounts Payable
Date
Particulars
F
Debit
Credit
Balance
Credit
Debit
Credit
8
To record settlement of accounts payable to Ever
Bright Candles
401 2,700.00
2,700.00
9
To record settlement of accounts of the month of May
401 5,850.00
to Nature's Best
8,550.00
10
To record the purchase of furniture to Hall of Fame
401
15,120.00
6570.00
11
To record the purchase of goods from Nature Best
Co.'s
401
23,400.00
29970.00
14
To record the 50% account due payment to Nature's
Best Co on account
401 11,700.00
15
To record the purchases to Wonder Cash on account
401
23
To record the payment on half of the account to
Wonder Care
401 19,800.00
Account:
18270.00
43,200.00
61470.00
41670.00
SS and EC Premiums Payable
Balance
Date
Particulars
F
Debit
Credit
Debit
Credit
15
To record salaries expense on cash in bank
403
1,453.25
1453.25
30
To record cash paid on employee's salary
403
364.94
1818.19
Account:
MCR Premiums Payable
Date
Particulars
Balance
F
Debit Credit
Debit Credit
15
To record salaries expense on cash in bank
404
1,485.00
1485.00
30
To record cash paid on employee's salary
404
1,453.25
2938.25
Account:
Pag-ibig Premiums Payable
Balance
Date
Particulars
F
Debit
Credit
Debit
Credit
15
To record salaries expense on cash in bank
405
250.00
250.00
30
To record cash paid on employee's salary
405
250.00
500.00
Account:
Withholding Taxes Payable
Balance
Date
Particulars
F
Debit
Credit
Debit
2
To record payment to BIR for withholding tax
406 729.88
15
To record salaries expense on cash in bank
406
364.94
30
To record cash paid on employee's salary
406
1,485.00
Credit
729.88
364.94
1120.06
Account: Creditable Income Tax Withheld
Balance
Date
Particulars
F
Debit Credit
Debit Credit
2
To record rent and utilities payable less 5% creditable Income
Tax Withheld for the month of May
410
9
To record payment of creditable income tax withheld to BIT
410 500.00
500.00
500.00
0.00 0.00
Account: VAT Payable
Date
Particulars
F
Debit
Credit Balance
Debit
2
To record payment to BIR for the VAT
411 2,058.15
2,058.15
8
To record petty cash fund paid on gas and oil
411 53.57
2,111.72
11
To record the purchase of goods from Nature Best Co.'s
411 2,507.14
4,618.86
Credit
Account: Input Tax
Balance
Date
Particulars
F
Debit
Credit
Debit
Credit
10
To record the purchase of furniture to Hall of Fame
411.1 1,620.00
1,620.00
13
To record the purchase of supplies on petty cash
411.1 33.00
1,653.00
15
To record the purchases to Wonder Cash on account
411.1 4,628.57
6,281.57
17
To record repair service expense to Extelcom on petty
cash fund.
411.1 48.43
6,330.00
20
To record the return good to Wonder Care on account
411.1
22
To record petty cash paid for repairs.
25
To record purchases from Ever Bright
411.1 578.57
6,608.06
28
To record petty cash fund paid on gas and oil
411.1 37.50
6,645.56
385.71 5,944.29
85.20
6,029.49
Account: Output Tax
Balance
Date
Particulars
F
Debit Credit
Debit Credit
2
To record sales to Dr. Eva Perez with a 5% sales discount
411.2
356.25
356.25
3
To record sales to Philippine Christian House in terms of
25% dp with check number PNB 1008848
411.2
4
To record collection of pending payment of International
Supermarket for May in terms of 3/7, n/15 with check
number 789321
411.2 21.70
7
To record sales from Shop Here Supermarket in terms of
25% dp with BPI Check 980314
411.2
1,735.71
2599.55
9
To record sold gooods to Joni Bulatao on cash
411.2
407.14
3006.69
11
To record sales from Vasquez Grocery with PCIB Chk
542347 for the down payment
411.2
1,585.71
4592.40
15
To record the sold goods to Paula's Mini Mart on cash
411.2
430.71
5023.11
17
To record sales from Marietta Milan
411.2
305.36
5328.47
22
To record sales from Fairview Grand Hotel with BPI Chk
412859
411.2
1,800.00
7128.47
23
To record sales from International Supermarket with Citibank
411.2
Chk 789340
1,221.43
8349.90
29
To record the sold goods on cash
412.23
8762.13
529.29
411.2
885.54
863.84
Account: Rent Payable
Balance
Date
Particulars
F
Debit
Credit
Debit
2
To record rent and utilities payable less 5% creditable
Income Tax Withheld for the month of May
808 10,000.00
Credit
10,000.00
Account: Utilities Payable
Balance
Date
Particulars
F
Debit
Credit
Debit
2
To record rent and utilities payable less 5% creditable
Income Tax Withheld for the month of May
813 1,000.00
1,000.00
F
Balance
Account: Mabuhay, Capital
Date
Particulars
Debit Credit
Credit
Debit Credit
1
To record purchase of laptop recorded as additional
investment
501
30,000.00
30000.00
Account: Mabuhay, Personal
Balance
Date
Particulars
F
Debit Credit
Debit Credit
7
To record petty cash withdrawal of Mr. Mabuhay for personal
use
502 200.00
200.00
Account: Sales
Balance
Date
Particulars
F
Debit Credit
Debit Credit
2
To record sales to Dr. Eva Perez with a 5% sales discount
601
2,968.75
2968.75
3
To record sales to Philippine Christian House in terms of
25% dp with check number PNB 1008848
601
4,410.71
7379.46
7
To record sales from Shop Here Supermarket in terms of
25% dp with BPI Check 980314
601
14,464.29
21843.75
9
To record sold gooods to Joni Bulatao on cash
601
3,392.86
25236.61
11
To record sales from Vasquez Grocery with PCIB Chk
542347 for the down payment
601
13,214.29
38450.90
15
To record the sold goods to Paula's Mini Mart on cash
601
3,589.29
42040.19
17
To record sales from Marietta Milan
601
2,544.64
44584.83
22
To record sales from Fairview Grand Hotel with BPI Chk
412859
601
15,000.00
59584.83
23
To record sales from International Supermarket with
Citibank Chk 789340
601
10,178.57
69763.40
29
To record the sold goods on cash
601
3,435.27
73198.67
Account: Sales Discount
Balance
Date
Particulars
F
Debit Credit
Debit Credit
2
To record sales to Dr. Eva Perez with a 5% sales discount
602 166.25
166.25
4
To record collection of pending payment of International
Supermarket for May in terms of 3/7, n/15 with check number
789321
602 180.80
347.05
Account: Purchases
Balance
Date
Particulars
F
Debit
Credit
Debit
Credit
11
To record the purchase of goods from Nature Best Co.'s 701 20,892.86
20,892.86
15
To record salaries expense on cash in bank
701 38,571.43
59,464.29
25
To record purchases from Ever Bright
701 4,821.43
64,285.72
Account: Purchase Discount
Balance
Date
Particulars
F
Debit Credit
Debit Credit
8
To record settlement of accounts payable to Ever Bright Candles 703
54.00
54.00
Account: Purchase Returns & Allowances
Balance
Date
Particulars
F
Debit Credit
Debit Credit
20
To record the return good to Wonder Care on account
704
3,214.29
3214.29
Account:
Gas and Oil
Date
Particulars
Balance
F
Debit
Credit
Debit
8
To record petty cash fund paid on gas and oil
805 446.43
446.43
28
To record petty cash fund paid on gas and oil
805 312.50
758.93
Credit
Account: Pag-ibig Premiums Expense
Balance
Date
Particulars
F
Debit
Credit
Debit
To record payment of pag-ibig, SS and Ec, and Medicare
premiums expense
8
Account:
Medicare Premiums Expense
Date
Particulars
806 1,000.00
Credit
1,000.00
Balance
F
Debit Credit
Debit Credit
8
To record payment of pag-ibig, SS and Ec, and Medicare
premiums expense
Account:
SS and EC Premiums Expense
807 5,940.00
5,940.00
Balance
Date
Particulars
F
Debit
Credit
Debit
8
To record payment of SS and EC premiums expense
Account:
Salaries Expense
Date
Particulars
F Debit
8,950.00
8,950.00
Credit Balance
Credit
Debit
Credit
15
To record salaries expense on cash in bank
54,000.00
54,000.00
30
To record cash paid on employee's salary
54,000.00
108,000.00
Account:
Supplies Expense
Balance
Date
Particulars
F
Debit
Credit
Debit
13
To record the purchase of supplies on petty cash
811 275.00
Credit
275.00
Account: Repair & Maintenance Expense
Balance
Date
Particulars
F
Debit
Credit
Debit
4
To record repair and maintenance expense on petty cash
fund
17
To record repair service expense to Extelcom on petty cash
fund.
814 403.62
1,403.62
22
To record petty cash paid for repairs.
814 710.10
2,113.72
1,000.00
1,000.00
Credit
Trial Balance
ALFRESCO Marketing
Trial Balance
June 30,2018
Account Title
Account No.
Debit
Credit
Cash on Hand
101
103,215.56
Cash in Bank
102
5,228.34
Petty Cash Fund
103
1,905.35
Accounts Receivable
104
15,990.00
Furniture and Equipment
201
43,500.00
Accounts Payable
401
41,670.00
SS and EC Premiums Payable
403
1,818.19
MCR Premiums Payable
404
2,938.25
Pag-ibig Premiums Payable
405
500.00
Withholding Taxes Payable
406
1,120.06
Rent Payable
408
10,000.00
Utilities Payable
409
1,000.00
Creditable Income Tax Withheld
410
-
Vat Payable
411
4,618.86
Input Tax
411.1
6,645.56
Output Tax
411.2
8,762.13
Mabuhay, Capital
501
30,000.00
Mabuhay, Personal
502
Sales
601
Sales Discount
602
347.05
Purchases
701
64,285.72
Purchase Discount
703
54.00
Purchase Returns and Allowances
704
3,214.29
Gas and Oil
805
-
200.00
73,198.67
758.93
Pag-ibig Premiums Expense
806
1,000.00
Medicare Premiums Expense
807
5,940.00
SS and EC Premiums Expense
809
8,950.00
Salaries Expense
810
108,000.00
Supplies Expense
811
275.00
Repairs & Maintenance Expense
814
2,113.72
TOTAL
273,624.84
273,624.84
ADJUSTING ENTRY
Alfresco Marketing
Adjusting Entry
June 30, 2018
a. SS and EC Premium Expense
6,043.50
SS and EC Premium Payable
Medicare Premium Expense
6,043.50
2,970.00
Medicare Premium Payable
Pag-ibig Premium Expense
500
10,000.00
Rent Payable
250
250
1905.8
Petty Cash Fund
g. Output tax
10,000.00
700
Supplies Expense
f Cash in Bank
500
700
Cash in Bank
e. Prepaid Supplies
2,970.00
Pag-ibig Premium Payable
b. Rent Expense
d. Bank Charges
VAT Payable
1905.8
8762.13
444.14
Input Tax
Utilities Expense
9206.27
1,000.00
Utilities Payable
1,000.00
h. Interest Expense
1587.6
Interest Payable
c. Depreciation- Delivert Equipment
1587.6
7,466.60
Accumulated Depreciation- Delivery
Equi[ment
7,466.60
Mechandising
i. Inventory
71800
Income summary
Depreciation- Furniture and
Equipment
Accumulated Depreciation- Furniture
and Equipment
71800
1,886.13
1,886.13
j. Cash on Hand
Cash in Bank
3847.5
3847.5
BANK RECONCILIATION STATEMENT
ALFRESCO MARKETING
Bank Reconciliation Statement
June 30, 2018
6,729.41
Cash balance as per bank statement, June 30,
2018
Add: Deposit in transit
3847.50
Lack Deposit
111.15
1005.00
Bank Charges
700.00
₱ 13033.57
Adjusted cash balance
Less: Uncleared Check
Overpayment by Dr. Eva Perez
Adjusted cash balance
19800.00
166.25
(₱ 6932.71)
STATEMENT OF FINANCIAL POSITION
ALFRESCO MARKETING
Statement of Financial Position
June 30, 2018
ASSETS
Current Assets
Cash on Hand
Cash in Bank
Petty Cash Fund
Accounts Receivable
Merchandise Inventory
Prepaid Supplies
Total Current Assets
Noncurrent Assets
Furniture and Equipment
Depreciation - Furniture & Equipment
Accumulated Depreciation - Furniture & Equipment
Delivery Equipment
Depreciation - Delivery
Accumulated Depreciation - Delivery Expense
Total Noncurrent Assets
Other Assets
Deposit for Rent
Deposit for Utilities
TOTAL ASSETS:
LIABILITIES
Current Liabilities
Accounts Payable
SS and EC Premiums Payable
MCR Premiums Payable
Pag-ibig Premiums Payable
Withholding Taxes Payable
Rent Payable
Utilities Payable
Interest Payable
Creditable Income Tax Withheld
VAT Payable
Input Tax
Output Tax
Total Current Liabilities
Mabuhay, Capital
TOTAL LIABILITIES AND CAPITAL
(30,495.00)
23,987.10
(1,811.15)
28,965.00
129,590.00
563.35
150,799.30
70,000.00
1,883.13
(2,495.63)
90,000.00
7,466.60
(10,133.60)
156,720.50
10,000.00
2,000.00
12,000.00
₱ 319,519.80
52,020.00
8,950.00
5,940.00
1,000.00
729.88
10,000.00
1,500.00
1,587.60
0.00
(444.14)
0.00
0.00
81,283.34
238,236.46
₱ 319,519.80
INCOME STATEMENT
ALFRESCO MARKETING
Income Statement
For the month ended June 30, 2018
Revenue
Sales
Less: Sales Discount
Net Sales:
Purchases
Less: Purchase Returns & Allowances
Purchase Discount
Net Purchases:
73,198.67
347.05
72,851.62
64,285.72
3,214.29
54.00
Gross Profit:
Expenses
Salaries Expense
Supplies Expense
Repairs and Maintenance
Gas and Oil
SS and EC Premiums Expense
Medicare Premiums Expense
Pag-ibig Premiums Expense
Rent Expense
Utilities Expense
Interest Expense
Bank Charge
Total Expenses
Income & Expense Summary
Net Loss:
3,268.29
61,017.43
11,834.19
108,000.00
25.00
2,113.72
758.93
6,043.50
2,970.00
500.00
10,000.00
1,000.00
1,587.60
700.00
133,698.75
71,800.00
(₱ 50,064.56)