Professional Documents
Culture Documents
FINAL EXAM
IN
IT 103.1
Submitted by:
Janica C. Sia
Submitted to:
Prof. Carlo Pinto, CPA
GENERAL JOURNAL
Date:
Sept. 1 Cash
Account Title:
Debit
500,000
Sia, Capital
2 Prepaid Rent
Cash
2 Store Equipment
Cash
2 Furniture & Fixtures
Cash
3 Supplies
Cash
3 Novellino Purchases
Accounts Payable- Novellino Corp.
500,000
20,000
20,000
8,000
8,000
11,500
11,500
8,500
8,500
10,000
10,000
9,600
5 Cash
1,600
9,600
Credit
1,600
4,500
Novellino Sales
6 Franzia Purchases
Cash
7 Cash
Accounts Receivable- DJ Duran
Maria Clara Sales
4,500
15,600
15,600
3,000
5,000
8,000
14,000
10,000
14,000
200
9,800
Date:
Account Title:
Sept. 9 Accounts Receivable- JE Poniente
Franzia Sales
Debit
11,900
11,900
10 Advertising Expense
Cash
1,000
11 Cash
5,000
1,000
5,000
3,750
3,750
19,500
19,500
13 Cash
Accounts Receivable- JS Reyes
Carlo Rossi Sales
6,450
4,000
14 Sia, Withdrawals
Cash
3,500
5,700
7,200
17 Cash
Credit
10,450
3,500
5,700
7,200
11,900
11,900
16,000
16,000
18 Utilities Expense
Utilities Payable
2,000
19 Cash
3,750
2,000
3,750
950
950
Date:
Account Title:
Sept. 21 Accounts Payable- Paul Masson Corp.
Purchase Discounts
Cash
Debit
19,500
390
19,110
2,400
23 Cash
6,000
2,400
Novellino Sales
6,000
9,100
24 Cash
Accounts Receivable- JS Reyes
Franzia Sales
3,100
2,000
25 Sia, Withdrawals
Cash
1,000
25 Novellino Purchases
Freight-in
Accounts Payable- Novellino Corp.
Cash
1,000
100
26 Cash
Credit
8,400
700
5,100
1,000
1,000
100
12,350
12,350
9,600
1,500
29 Cash
Sales Discounts
Accounts Receivable- DJ Duran
8,932
168
30 Utilities Expense
Cash
9,600
1,500
9,100
200
200
Date:
Sept. 30 Salaries Expense
Cash
Account Title:
30 Rent Expense
Prepaid Rent
Debit
2,000
Credit
2,000
10,000
10,000
30 Supplies Expense
Supplies
2,000
1,150
1,000
2,000
1,150
1,000
GENERAL LEDGER
Cash
500,000
1,600
4,500
3,000
5,000
6,450
11,900
16,000
3,750
6,000
3,100
12,350
8,932
20,000
8,000
11,500
8,500
9,600
15,600
14,000
9,800
1,000
3,500
19,110
700
1,000
100
1,500
200
2,000
456,472
Accounts Receivable
5,000
5,000
11,900
11,900
3,750
3,750
4,000
950
5,700
9,100
9,100
2,000
9,600
20,350
Supplies
8,500
6,500
2,000
Prepaid Rent
20,000
10,000
10,000
Sales
1,600
4,500
8,000
11,900
3,750
10,450
5,700
16,000
6,000
8,400
5,100
12,350
9,600
103,350
Sales Discount
168
168
Sales Returns & Allow.
950
950
Purchases
10,000
9,600
15,600
14,000
19,500
7,200
1,000
1,500
78,400
Purchase Discounts
200
390
590
Purchase Disc & Allow.
2,400
2,400
Freight-in
100
100
Salaries Expense
2,000
2,000
Advertising Expense
1,000
1,000
Supplies Expense
2,000
2,000
Rent Expense
10,000
10,000
Utilities Expense
2,000
200
2,200
Tabaco Winery
Adjusted Trial Balance
September 30, 2013
Cash
Accounts Receivable
Supplies
Prepaid Rent
Furniture and Fixtures
Accumulated Depreciation- Furniture and Fixtures
Store Equipment
Accumulated Depreciation- Store Equipment
Accounts Payable
Utilities Payable
Sia, Capital
Sia, Withdrawals
Sales
Sales Discounts
Sales Returns & Allowances
Purchases
Purchase Discounts
Purchase Returns & Allowances
Freight-in
Salaries Expense
Supplies Expense
Advertising Expense
Utilities Expense
Rent Expense
Depreciation Expense-Furniture & Fixtures
Depreciation Expense-Store Equipment
Tabaco Winery
456,472
20,350
6,500
10,000
11,500
1,150
8,000
1,000
5,800
2,000
500,000
4,500
103,350
168
950
78,400
590
2,400
100
2,000
2,000
1,000
2,200
10,000
1,150
1,000
616,290
616,290
Income Statement
For the month ended September 30, 2013
Net Sales
Gross Sales
Less: Sales Returns and Allowances
Sales Discounts
Net Sales
Cost of Sales
Merchandise Inventory, 09/01/13
Purchases
Less: Purchase Returns and Allowances
Purchase Discounts
Net Purchases
Freight-in
Net Cost of Purchases
Goods Available for Sale
Less: Merchandise Inventory, 09/30/13
Cost of Sales
Gross Profit
Operating Expenses
Salaries Expense
Rent Expense
Utilities Expense
Advertising Expense
Depreciation Expense- Furniture & Fixtures
Depreciation Expense- Store Equipment
Supplies Expense
Total Operating Expenses
Profit
103,350
950
168
1,118
102,232
0
78,400
2,400
590
Tabaco Winery
2,990
75,410
100
75,510
75,510
75,510
26,722
2,000
10,000
2,200
1,000
1,150
1,000
2,000
19,350
7,372
PHP 500,000
7,372
PHP 507,372
4,500
502,872
Tabaco Winery
Statement of Financial Position
September 30, 2013
Assets
Current Assets
Cash
Accounts Receivable
Supplies
Prepaid Rent
Total Current Assets
Non-Current Assets
Furniture and Fixtures
Less: Accumulated Depreciation
Store Equipment
Less: Accumulated Depreciation
Total Assets
PHP 456,472
20,350
6,500
10,000
PHP 493,322
11,500
1,150
8,000
1,000
10,350
7,000
PHP 17,350
PHP 510,672
Liabilities
Current Liabilities
Accounts Payable
Utilitites Payable
Total Current Liabilities
PHP 5,800
2,000
PHP 7,800
Owner's Equity
502,872
PHP 510,672