GENERAL JOURNAL

DATE(2018) TRANSACTIONS REF. DEBIT CREDIT

FEB. 1 Cash 110 ₱ 113,000
Accounts Receivable 120 ₱ 113,000

2 Accounts Payable 210 64,000

Cash 110 62,080
Purchase Discounts 530 1,920

4 Purchases 510 170,000

Accounts Payable 210 170,000

5 Accounts Receivable 120 270,000

Sales 410 270,000

7 Advertising Expense 670 6,000

Cash 110 6,000

Cash 110 250,000

Sales 410 250,000

8 Accounts Payable 210 170,000

Cash 110 164,900
Purchase Discounts 530 5,100

9 Transportation In 540 4,000

Cash 110 4,000

10 Sales Return and Allowances 420 70,000

Accounts Receivable 120 70,000

12 Cash 110 196,000

Sales Discounts 430 4,000
Accounts Receivable 120 200,000

14 Interest Expense 680 26,000

Cash 110 26,000

15 Salaries Expense 610 51,000

Cash 110 51,000

16 Accounts Receivable 120 392,000

Sales 410 392,000
 GENERAL JOURNAL
DATE(2018 REF
TRANSACTIONS DEBIT CREDIT
) .
FEB. 18 Transportation Out 660 ₱ 4,000
Cash 110 ₱ 4,000

19 Supplies 140 21,000

Cash 110 21,000

20 Purchases 510 125,000

Accounts Payable 210 125,000

22 Miscellaneous Expense 690 7,000

Cash 110 7,000

23 Cash 110 384,160

Sales Discounts 430 7,840
Accounts Receivable 120 392,000

24 Purchases 510 373,000

Accounts Payable 210 373,000

Transportation In 540 9,000

Cash 110 9,000

25 Accounts Receivable 120 420,000

Sales 410 420,000
 26 Sales Returns and Allowances 420 71,000
Accounts Receivable 120 71,000

28 Buenaflor, Withdrawals 320 400,000

Cash 110 400,000

Accounts Payable 210 25,000

Purchase Returns and Allowances 520 25,000

T-ACCOUNTS
Cash
Beg. Bal. ₱ 33,000 ₱ 62,080 2/2
2/1 113,000 6,000 2/7
2/7 250,000 164,900 2/8
2/12 196,000 4,000 2/9
2/23 384,160 26,000 2/14
51,000 2/15
4,000 2/18
21,000 2/19
7,000 2/22
9,000 2/24
400,000 2/28
₱ 976,160 ₱ 754,980
₱ 221,180.00

Accounts Receivable
Beg.
Bal. ₱ 192,000 ₱ 113,000 2/1
2/1
2/5 270,000 70,000 0
2/16 392,000 200,000 2/1
 2
2/2
2/25 420,000 392,000 3
2/2
71,000 6
1,274,000 846,000
₱ 428,000.00

Merchandise Inventory
Beg.
Bal. ₱ 413,000
413,000 -
₱ 413,000.00

Supplies
Beg.
Bal. ₱ 51,000
2/19 21,000
72,000 -
₱ 72,000.00
Prepaid Insurance
Beg.
Bal. ₱ 48,000
48,000 -
₱ 48,000.00

Land
Beg.
Bal. ₱ 460,000
460,000 -
₱ 460,000.00

Building
Beg.
Bal. ₱ 1,750,000
1,750,000 -
₱ 1,750,000.00

Accumulated Depreciation- Building

 Beg.
₱ 350,000 Bal.
- 350,000
₱ 350,000.00

Equipment
Beg.
Bal. ₱ 2,310,000
2,310,000 -
₱ 2,310,000.00

Accumulated Depreciation- Equipment

Beg.
₱ 630,000 Bal.
- 630,000
₱ 630,000.00

Accounts Payable

2/2 ₱ 64,000 ₱ 108,000 Beg. Bal.

2/8 170,000 170,000 2/4
2/28 25,000 125,000 2/20
373,000 2/24
259,000 776,000
₱ 517,000.00

Salaries Payable

₱ -

Mortgage Payable
₱ 2,600,000 Beg. Bal.
- 2,600,000

₱2,600,000.00
 Buenaflor, Capital
₱ 1,569,000 Beg. Bal.
- 1,569,000
₱1,569,000.00

Buenaflor, Withdrawals
2/28 ₱ 400,000

400,000 -
₱400,000.00

Income Summary

₱ -

Sales
₱ 270,000 2/5
250,000 2/7
392,000 2/16
420,000 2/25

- 1,332,000
₱1,332,000.00

Sales Returns and Allowances

2/10 ₱ 70,000
2/26 71,000
141,000 -
₱141,000.00

Sales Discounts
2/12 ₱ 4,000
2/23 7,840
11,840 -
₱ 11,840.00
 Purchases
2/4 ₱ 170,000
2/20 125,000
2/24 373,000
668,000 -

₱668,000.00

Purchases Returns and Allowances

₱ 25,000 2/28
- 25,000

₱ 25,000.00

Purchases Discount
₱ 1,920 2/2
5,100 2/8
- 7,020
₱ 7,020.00

Transportation In

2/9 ₱ 4,000
2/24 9,000
13,000 -
₱ 13,000.00

Salaries Expense
2/15 ₱ 51,000
51,000 -
₱ 51,000.00

Supplies Expense

- -
₱ -
 Insurance Expense

- -
₱ -

Depreciation Expense- Building

- -
₱ -

Depreciation Expense- Equipment

- -
₱ -

Transportation Out
2/18 ₱ 4,000
4,000 -
₱ 4,000.00

Advertising Expense
2/7 ₱ 6,000

6,000 -
₱ 6,000.00

Interest Expense
2/14 ₱ 26,000

26,000 -
₱ 26,000.00

Miscellaneous Expense
2/22 ₱ 7,000
 7,000 -
₱ 7,000.00

Teresita Buenaflor Shoes

Trial Balance
As of February 28,2018

110 Cash ₱ 221,180

120 Accounts Receivable 428,000
130 Merchandise Inventory 413,000
140 Supplies 72,000
150 Prepaid Insurance 48,000
160 Land 460,000
170 Building 1,750,000
175 Accumulated Depreciation-Building ₱ 350,000
180 Equipment 2,310,000
185 Accumulated Depreciation- Equipment 630,000
210 Accounts Payable 517,000
220 Salaries Payable

230 Mortgage Payable 2,600,000

310 Buenaflor, Capital 1,569,000
320 Buenaflor, Withdrawals 400,000
330 Income Summary

410 Sales 1,332,000

420 Sales Returns and Allowances 141,000
430 Sales Discounts 11,840
510 Purchases 668,000
520 Purchases Returns amd Allowances 25,000
530 Purchases Discounts 7,020
540 Transportation In 13,000
610 Salaries Expense 51,000
620 Supplies Expense

630 Insurance Expense

640 Depreciation Expense- Building

650 Depreciation Expense- Equipment

660 Transportation Out 4,000

670 Advertising Expense 6,000
680 Interest Expense 26,000
690 Miscellaneous Expense 7,000

₱7,030,020.00 ₱7,030,020.00

Teresita Buenaflor Shoes

Adjusting Journal Entries
As of February 28,2018

PARTICULARS DEBIT CREDIT

a. Salaries Expense ₱ 51,000

` Salaries Payable ₱ 51,000

b
. Insurance Expense 2,000

Prepaid Insurance 2,000

c. Depreciation Expense 9,000

Accumulated Depreciation- Building 9,000

Depreciation Expense 12,000

Accumulated Depreciation- Equipment 12,000

d
. Supplies Expense 58,000

Supplies 58,000

e. Merchandise Inventory (2/28/2018) 397,000

Income Summary 397,000

 Teresita Buenaflor Shoes
Adjusted Trial Balance
As of February 28,2018
110 Cash ₱ 221,180
120 Accounts Receivable 428,000
130 Merchandise Inventory 413,000
140 Supplies 14,000
150 Prepaid Insurance 46,000
160 Land 460,000
170 Building 1,750,000
175 Accumulated Depreciation-Building ₱ 359,000
180 Equipment 2,310,000
Accumulated Depreciation-
185
Equipment 642,000
210 Accounts Payable 517,000
220 Salaries Payable 51,000
230 Mortgage Payable 2,600,000
310 Buenaflor, Capital 1,569,000
320 Buenaflor, Withdrawals 400,000
330 Income Summary
410 Sales 1,332,000
420 Sales Returns and Allowances 141,000
430 Sales Discounts 11,840
510 Purchases 668,000
520 Purchases Returns amd Allowances 25,000
530 Purchases Discounts 7,020
540 Transportation In 13,000
610 Salaries Expense 102,000
620 Supplies Expense 58,000
630 Insurance Expense 2,000
640 Depreciation Expense- Building 9,000
650 Depreciation Expense- Equipment 12,000
660 Transportation Out 4,000
670 Advertising Expense 6,000
680 Interest Expense 26,000
690 Miscellaneous Expense 7,000

₱ 7,102,020.00 ₱ 7,102,020.00