DATE

PARTICULARS F DEBIT CREDIT

Rosalinda's Boutique
CHART OF ACCOUNTS

ASSETS
Current Assets
Cash 100
Accounts Receivables 110
Merchandise Inventory 115
Supplies 120

LIABILITIES
Current Liabilities
Accounts Payable 300

OWNER'S EQUITY
Rosalinda, Capital 400
Rosalinda, Drawings 410

REVENUES
Sales 500
Sales Discount 510
Sales Returns and Allowances 520

EXPENSES
Purchases 600
Purchase Discount 610
Purchase Returns and Allowances 620
Freight-in 630
Salaries Expense 700
Utilities Expense 710
Freight-out 720

Income Summary 800

 DATE
PARTICULARS F DEBIT CREDIT
2015
May 1 Purchases 600 9,000.00
Freight-in 630 250.00
Cash 100 250.00
Accounts Payable 300 9,000.00
To record purchase of merchandise

2 Accounts Receivable 110 4,000.00

Freight-out 720 300.00
Cash 100 300.00
Sales 500 4,000.00
To record merchandise sold

5 Accounts Payable 300 600.00

Purchase Returns and Allowances 620 600.00
To record returned merchandise
7 Accounts Receivable 110 2,600.00
Sales 500 2,600.00
To record sales

9 Cash 100 3,960.00

Sales Discount 510 40.00
Accounts Receivable 110 4,000.00
To record collections

10 Accounts Payable 300 8,400.00

Purchase Discount 610 168.00
Cash 100 8,232.00
To record payment of credit

11 Supplies 120 900.00

Cash 100 900.00
To record purchase of supplies

12 Purchases 600 2,700.00

Cash 100 2,700.00
To record purchase of inventory

15 Cash 100 230.00

Purchase Returns and Allowances 620 230.00
To record returned inventory
24 Cash 100 6,200.00
Sales 500 6,200.00
To record sales

29 Sales Returns and Allowances 520 100.00

Cash 100 100.00
To record refunds of returned inventory

30 Cash 100 2,600.00

Accounts Receivable 110 2,600.00
To record collections

31 Utilities Expense 710 1,250.00

Cash 100 1,250.00
To record payment for utilities

Salaries Expense 700 3,000.00

Cash 100 3,000.00
To record payment for salaries
 General Ledger
ACCOUNT: Cash ACCOUNT NO. 100

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 1 Balance Forwarded √ 10,000.00 10,000.00
Freight-in GJ-1 250.00 9,750.00
2 Freight-out GJ-1 300.00 9,450.00
9 Collections GJ-1 3,960.00 13,410.00
10 Purchases GJ-1 8,232.00 5,178.00
11 Supplies GJ-1 900.00 4,278.00
12 Purchases GJ-1 2,700.00 1,578.00
15 Returned inventory GJ-1 230.00 1,808.00
24 Collections GJ-1 6,200.00 8,008.00
29 Returned inventory GJ-1 100.00 7,908.00
30 Collections GJ-1 2,600.00 10,508.00
31 Utilities GJ-1 1,250.00 9,258.00
Salaries GJ-1 3,000.00 6,258.00

General Ledger
ACCOUNT: Accounts Receivable ACCOUNT NO. 110

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 2 GJ-1 4,000.00 4,000.00
7 GJ-1 2,600.00 6,600.00
9 GJ-1 4,000.00 2,600.00
30 GJ-1 2,600.00 0.00

General Ledger
ACCOUNT: Merchandise Inventory ACCOUNT NO. 115

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 31 CE GJ-1 5,000.00 5,000.00
 General Ledger
ACCOUNT: Supplies ACCOUNT NO. 120

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 11 GJ-1 900.00 900.00

General Ledger
ACCOUNT: Accounts Payable ACCOUNT NO. 300

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 1 Okay Wholesaler GJ-1 9,000.00 9,000.00
5 Okay Wholesaler GJ-1 600.00 8,400.00
10 Okay Wholesaler GJ-1 8,400.00 0.00

General Ledger
ACCOUNT: Rosalinda, Capital ACCOUNT NO. 400

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 1 Balance Forwarded √ 10,000.00 10,000.00
31 CE GJ-1 2,158.00 12,158.00
CE GJ-1 0.00 12,158.00

General Ledger
ACCOUNT: Rosalinda, Drawings ACCOUNT NO. 410

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit

General Ledger
ACCOUNT: Sales ACCOUNT NO. 500

Date Post. Balance

Description Debit Credit
2015 Ref. Debit Credit
May 2 GJ-1 4,000.00 4,000.00
7 GJ-1 2,600.00 6,600.00
24 GJ-1 6,200.00 12,800.00
31 CE GJ-1 12,800.00 0.00

General Ledger
ACCOUNT: Sales Discount ACCOUNT NO. 510
 DATE
PARTICULARS F DEBIT CREDIT
2015
May 31 Sales 500 12,800.00
Income Summary 800 12,660.00
Sales Returns & Allowances 520 100.00
Sales Discounts 510 40.00
To close revenues & other sales
transactions to income summary account

Merchandise Inventory, end 115 5,000.00

Purchase Returns & Allowances 620 830.00
Purchase Discounts 610 168.00
Income Summary 800 5,952.00
Merchandise Inventory, beg. 115 0.00
Purchases 600 11,700.00
Freight-in 630 250.00
To close inventory & purchases
transactions to income summary account

Income Summary 800 4,550.00

Salaries Expense 700 3,000.00
Utilities Expense 710 1,250.00
Freight-out 720 300.00
To close expenses to income summary

Income Summary 800 2,158.00

Rosalinda, Capital 400 2,158.00
To close income summary to capital

Rosalinda, Capital 400 0.00

Rosalinda, Drawings 410 0.00
To close withdrawal to capital
 Rosalinda's Boutique
TRIAL BALANCE
May 31, 2015

ACCOUNT TITLE DEBIT CREDIT

1 Cash 100 Php6,258.00 Php -
2 Accounts Receivables 110 -
3 Merchandise Inventory 115
4 Supplies 120 900.00
5 Accounts Payable 300 -
6 Rosalinda, Capital 400 10,000.00
7 Rosalinda, Drawings 410 -
8 Sales 500 12,800.00
9 Sales Discount 510 40.00
### Sales Returns and Allowances 520 100.00
### Purchases 600 11,700.00
### Purchase Discount 610 168.00
### Purchase Returns and Allowances 620 830.00
### Freight-in 630 250.00
### Salaries Expense 700 3,000.00
### Utilities Expense 710 1,250.00
### Freight-out 720 300.00
### Php23,798.00 Php23,798.00

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 Rosalinda's Boutique
POST-CLOSING TRIAL BALANCE
For the month ended May 31, 2015

POST-CLOSING TRIAL BALANCE

ACCOUNT TITLE DEBIT CREDIT
1 Cash 100 Php6,258.00 Php -
2 Accounts Receivables 110 0.00
3 Merchandise Inventory 115 5,000.00
4 Supplies 120 900.00
5 Accounts Payable 300 0.00
6 Rosalinda, Capital 400 12,158.00
### Php12,158.00 Php12,158.00
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