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Mr. Hanamichi Sakuragi started a retailing business called Slam Dunk Enterprise with an initial investment of P800,000. Throughout the month, he purchased equipment, supplies, merchandise and paid various business expenses totaling P300,000. Revenue from merchandise sales amounted to P190,000. By month's end, his cash balance was P658,000 with merchandise inventory of P70,000 and accounts receivable of P150,000.

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Lara Lewis Achilles
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99 views2 pages

1-Jun 3-Jun 5-Jun 6-Jun 7-Jun 10-Jun 12-Jun 13-Jun 14-Jun 15-Jun 17-Jun 18-Jun 20-Jun 25-Jun 27-Jun 30-Jun

Mr. Hanamichi Sakuragi started a retailing business called Slam Dunk Enterprise with an initial investment of P800,000. Throughout the month, he purchased equipment, supplies, merchandise and paid various business expenses totaling P300,000. Revenue from merchandise sales amounted to P190,000. By month's end, his cash balance was P658,000 with merchandise inventory of P70,000 and accounts receivable of P150,000.

Uploaded by

Lara Lewis Achilles
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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1-Jun Mr. Hanamichi Sakuragi invested P 800,000 to start a retailing business which he calls Slam Dunk Enterprise .

3-Jun Paid for the business permits and other fees, P 5,000.
5-Jun Purchased equipment, P 50,000 for cash.
6-Jun Purchased supplies on account, P 10,000.
7-Jun Paid rent for June, P 8,000.
10-Jun Purchased merchandise from the supplier on account, P 200,000.
12-Jun Paid the transportation cost of the merchandise, P 3,000.
13-Jun Purchased merchandise from the supplier for cash, P 100,000.
14-Jun Sold merchandise to customers for cash, P 40,000.
15-Jun Paid salaries of employee, P 5,000.
17-Jun Sold merchandise to customers on account, P 150,000.
18-Jun Paid delivery costs of merchandise sold to customers, P2,000.
20-Jun Made partial payment to supplier in June 10 transaction, P 60,000.
25-Jun Collected partial payment from customers in June 17 transaction, P 80,000.
27-Jun Mr. Sakuragi withdrew cash for personal use, P 20,000.
30-Jun Paid salaries of employee, P 4,500 and electricity bill, P 4,500.

Additional date:
Monthly depreciation for equipment is P 500.
Supplies used amounted to P 6,000.
The merchandise inventory at the end of the month amounted to P 205,000.
ASSETS LIABLITY OWNER'S EQUITY
Accounts Merchandise Accum. Accounts Sakuragi, Sakuragi, Sales Cost of Salaries Taxes and Rent Utilities Delivery Depreciation Supplies
Date Cash Supplies Equipment Purchases Freight-in
Receivable Inventory Deprn. Payable Capital Withdrawal Revenue goods sold expense licenses expense Expense expense expense Expense

1-Jun 800,000 800,000


3-Jun (5,000) 5,000
5-Jun (50,000) 50,000
6-Jun 10,000 10,000
7-Jun (8,000) 8,000
10-Jun 200,000 200,000
12-Jun (3,000) 3,000
13-Jun (100,000) 100,000
14-Jun 40,000 40,000
15-Jun (5,000) 5,000
17-Jun 150,000 150,000
18-Jun (2,000) 2,000
19-Jan (60,000) (60,000)
25-Jun 80,000 (80,000)
27-Jun (20,000) 20,000
30-Jun (9,000) 4,500 4,500
30-Jun 500 500
30-Jun (6,000) 6,000

Balance 658,000 70,000 0 4,000 50,000 500 150,000 800,000 20,000 190,000 300,000 3,000 9,500 5,000 8,000 4,500 2,000 500 6,000

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