Professional Documents
Culture Documents
1 Cash
Ms. Brew Capital
To record Ms. Brew's Investment. 1
2 Delivery Truck
Cash
Notes Payable
To record purchase of delivery truck. 2
2 Purchases
Accounts Payable 3
To record purchase of merchandise on account.
3 Cash
Accounts Receivable
Sales
To record sale of merchandise on cash and on account. 4
5 Supplies
Cash
To record purchase of supplies. 5
6 Cash
Loans Payable
To record availment of Bank Loan. 6
12 Cash
Accounts Receivable
Sales
To record sale of merchandise 2/3 on cash basis and 1/3 on account. 7
24 Purchases
Cash
Accounts Payable
To record purchase of merchandise 1/2 on cash basis and 1/2 on account. 8
26 Accounts Payable
Purchase Returns
To record return of merchandise purchased. 9
28 Salaries Expense
Rent Expense
Cash
To record payment of salaries and rental expense 10
Utilities Expense
Cash
To record payment of utilities expense. 11
29 Advertising Expense
Cash
To record advertising expense paid. 12
30 Cash
Accounts Receivable
To record collection of August 5 accounts receivable. 13
Depreciation Expense
Accumulated Depreciation
To record deprciation expense for the month 14
checking:
Acct. No. Debit Credit Theories
100 600,000 1 D
300 600,000 2 D
3 D
4 C
150 1,000,000 5 D
100 200,000 6 C
210 800,000 7 C
8 B
9 B
510 500,000 10 A
200 500,000 11 D
12 C
13 A
100 250,000 14 D
110 150,000 15 A
400 400,000 16 B
17 B
18 C
130 50,000 19 D
100 50,000 20 B
21 B
22 C
100 180,000 23 C
220 180,000 24 A
25 C
100 100,000
110 50,000
400 150,000
510 120,000
100 60,000
200 60,000
200 3,000
515 3,000
520 10,000
515 8,000
100 18,000
530 5,000
100 5,000
535 2,500
100 2,500
100 150,000
110 150,000
540 50,000
155 50,000
310 5,000
100 5,000
3,233,500 3,233,500
Account Name: Cash
Transactions
Date Particulars P.R.
Dr.
1 Ms. Brew Investment GJ 1 600,000
2 Downpayment for the Delivery Truck Purchased GJ 1
3 Sold Merchandise GJ 1 250,000
5 Purchased Supplies GJ 1
6 Proceeds of Bank Loan GJ 1 180,000
12 Sold Merchandise GJ 1 100,000
24 Purchase of Merchandise GJ 1
28 Payment of Salaries and Rental Expensse GJ 1
28 Payment of Utilities Expense GJ 1
29 Payment of Advertising Expense GJ 1
30 Collection of Accounts Receivable GJ 1 150,000
30 Ms. Brew Withdrawals GJ 1
Sales 550,000
Less: Cost of Sales
Purchases 620,000
Purchases Returns (3,000)
Inventory (175,000) 442,000
Gross Profit 108,000
Less: Operating Expenses
Salaries Expense 10,000
Rent Expense 8,000
Utilities Expense 5,000
Advertising Expense 2,500
Depreciation Expense 50,000 75,500
Net Income 32,500
*Currency: Php
*Currency: Php
KOPS Coffee Merchandise
Statement of Financial Position
For the period of August 31, 2018
Assest Liabilities and Owner's Equity
Current Assests Liabilities
Cash 939,500 Current Liability
Accounts Receivable 50,000 Accounts Payable
Inventory 175,000 Notes Payable
Supplies 50,000 Total Current Liability
Total Current Assest 1,214,500
Non-Current Liability
Non-Current Assets Loans Payable
Delivery Truck 1,000,000 Total Non-Current Liability
Accumulated Depreciation (50,000) Total Liabilities
Total Non-Current Assest 950,000
Ms. Brew Capital
Total Assets 2,164,500 Total Liabilities and Owner's Equity
*Currency: Php
557,000
800,000
1,357,000
180,000
180,000
1,537,000
627,500
2,164,500