Wagwag Enterprises.xlsx

WAGWAG ENTERPRISES PRACTICE SET -CCM

PURCHASE JOURNAL Date 200x Sept. 1

Sept. 6

Sept. 7 Sept. 10 Sept. 11 Sept. 14 Sept. 16

Sept. 20 Sept. 21

Sept. 23 Sept. 29 Sept. 30

Customer FAX Esteban YANG's Capital Goods LEE New City Various Creditors Various Creditors New City Esteban Various Creditors Andy & Son HANZ YANG's Various Creditors Capital Goods HANZ Roberto Various Creditors Various Creditors Cute FAX LEE Roberto Esteban

P.O. #

PR

Purchases (debit)

Accounts Payable (credit)

# 781 # 782 # 783 # 784 # 785 # 786

^ ^ ^ ^ ^ ^ CPJ CPJ ^ ^ CPJ ^ ^ ^ CPJ ^ ^ ^ CPJ CPJ ^ ^ ^ ^ ^

4,500.00 6,300.00 6,000.00 16,000.00 9,000.00 6,000.00 45,000.00 18,000.00 45,000.00 17,000.00 90,000.00 35,000.00 28,000.00 34,000.00 67,000.00 34,000.00 42,000.00 50,000.00 34,500.00 6,000.00 9,700.00 14,000.00 46,000.00 20,000.00 3,000.00

4,500.00 6,300.00 6,000.00 16,000.00 9,000.00 6,000.00 45,000.00 18,000.00 45,000.00 17,000.00 90,000.00 35,000.00 28,000.00 34,000.00 67,000.00 34,000.00 42,000.00 50,000.00 34,500.00 6,000.00 9,700.00 14,000.00 46,000.00 20,000.00 3,000.00

686,000.00 (510)

686,000.00 (310)

# 787 # 788 # 789 # 790 # 791 # 792 # 793 # 794

# 797 # 798 # 799 # 800 # 801

checking note: missing P.O. # 795 & 796 -

ACCOUNTS PAYABLE LEDGERS 1 Name: Address: Date 200x Sept. 16 Sept. 21

ANDY & SON 42 Otek, Baguio City Explanation

Ref.

P.O. # 789 Paid in full

PJ CPJ

Name: Address: Date 200x Sept. 6 Sept. 7 Sept. 21 Sept. 23

CAPITAL GOODS 5 Happy Homes, Baguio City Explanation Ref.

Name: Address: Date 200x Sept. 30

CUTE 50 Woodville, La Trinidad, Benguet Explanation Ref.

Name: Address: Date

ESTEBAN 43 Bakakeng, Baguio City Explanation

Terms: Debit

Credit 35,000.00

35,000.00

2/10, n/30 Balance 35,000.00 -

2

P.O. 784 Paid in full P.O. 792 Paid in full

PJ CPJ PJ

Terms: Debit

Credit 16,000.00

16,000.00 34,000.00 34,000.00

2/10, n/30 Balance 16,000.00 34,000.00 -

3

P.O. 797

Terms: Debit

PJ

Credit 9,700.00

2/10, n/30 Balance 9,700.00

4 Terms: Ref.

Debit

Credit

1/10, n/30 Balance

200x Sept. 1 Sept. 9 Sept. 11 Sept. 30

P.O. # 782 Paid in full P.O. # 788 P.O. # 801

PJ CPJ PJ PJ

6,300.00 6,300.00 17,000.00 3,000.00

6,300.00 17,000.00 20,000.00

5 Name: Address: Date 200x 31-Aug Sept. 3 Sept. 4 Sept. 30

FAX 16 Badihoy Rd., Baguio City Explanation

Ref.

Beg. Balance P.O. # 781 Paid in Full Paid the balance P.O. # 798

SAP PJ CPJ CPJ PJ

Terms: Debit

Credit 16,700.00 4,500.00

4,500.00 16,700.00 14,000.00

2/10, n/30 Balance 16,700.00 21,200.00 16,700.00 14,000.00

6 Name: Address: Date 200x Sept. 16 Sept. 20 Sept. 21 Sept. 21 Sept. 24

HANZ 100 Everlasting Q.M., Baguio City Explanation Ref.

Name: Address: Date 200x 31-Aug Sept. 6 Sept. 9 Sept. 30

LEE 15 Campo Sioco, Baguio City Explanation Ref.

P.O. # 790 CM P.O. # 793 Paid in full Paid in full

PJ CPJ PJ CPJ CPJ

Terms: Debit

Credit 28,000.00

1,200.00 42,000.00 26,800.00 42,000.00

2/10, n/30 Balance 28,000.00 26,800.00 68,800.00 42,000.00 -

7

Beg. Balance P.O. # 785 Paid in full P.O. # 799

SAP PJ CPJ PJ

Terms: Debit

Credit 15,600.00 9,000.00

9,000.00 46,000.00

n/30 Balance 15,600.00 24,600.00 15,600.00 61,600.00

8 Name: Address: Date 200x Sept. 6 Sept. 11 Sept. 23

NEW CITY 60 Tacay Rd., Baguio City Explanation

Ref.

P.O. # 786 P.O. # 787 Paid in full

PJ PJ CPJ

Name: Address: Date 200x 31-Aug Sept. 4 Sept. 21 Sept. 23 Sept. 30

ROBERTO 830 Leonard Wood, Baguio City Explanation Ref.

Name: Address: Date 200x 31-Aug

YANG'S 2 Rizal Park, Baguio City Explanation

Ref.

Beg. Balance P.O. # 783 Paid in full CM P.O. # 791 Paid in full

SAP PJ CPJ CPJ PJ CPJ

Terms: Debit

Credit 6,000.00 45,000.00

6,000.00

2/10, n/30 Balance 6,000.00 51,000.00 45,000.00

9

Beg. Balance Paid the balance P.O. # 794 Paid in full P.O. # 800

SAP CPJ PJ CRJ PJ

Terms: Debit

Credit 13,000.00

13,000.00 50,000.00 50,000.00 20,000.00

1/15, n/30 Balance 13,000.00 50,000.00 20,000.00

10

Sept. 3 Sept. 9 Sept. 16 Sept. 28

Terms: Debit

Credit 11,000.00 6,000.00

6,000.00 500.00 34,000.00 34,000.00

2/10, n/30 Balance 11,000.00 17,000.00 11,000.00 10,500.00 44,500.00 10,500.00

WAGWAG ENTERPRISES Schedule of Accounts Payable September 30, 200x

Cute Esteban FAX LEE New City Roberto YANG's Total

9,700.00 20,000.00 14,000.00 61,600.00 45,000.00 20,000.00 10,500.00 180,800.00

Checking: 56,300.00 686,000.00 (561,500.00) 180,800.00

CASH PAYMENT JOURNAL Date 200x Sept. 1

Sept. 2

Sept. 4

Sept. 6 Sept. 7 Sept. 8

Sept. 9

Sept. 10

Sept. 11 Sept. 14 Sept. 15 Sept. 18

Sept. 20

Sept. 21 Sept. 23

Check No.

Particulars Rent Expense Office Supplies Store Supplies Advertising FAX YANG's Salaries FAX Roberto Office Supplies Capital Goods Various Creditors Freight In Misc. General Expense Advertising Store Supplies YANG's LEE Esteban Juan Wagwag, Drawing Freight In Various Creditors Office Supplies Misc. General Expense Salaries Various Creditors Advertising Misc. General Expense Prepaid Insurance Misc. General Expense Misc. Selling Expense Salaries Advertising Various Creditors HANZ Juan Wagwag, Drawing Advertising Supplies Misc. Selling Expense Andy & Son HANZ Capital Goods

PR

Account Code

Accounts Payable (debit)

650 170 160 620 ^ ^

4,500.00 6,000.00 610

^ ^

16,700.00 13,000.00 170

^ PJ

16,000.00 45,000.00 520 710 620 160

CM ^ ^ ^

500.00 9,000.00 6,300.00 330 520

PJ

18,000.00 170 710 610

PJ

90,000.00 620 710 190 710 680 610 620 67,000.00 1,200.00

PJ CM ^ 330 630 680 ^ ^ ^

35,000.00 26,800.00 34,000.00

Sept. 24

Sept. 27 Sept. 28 Sept. 29

New City Roberto Various Creditors Sales R & A HANZ Misc. General Expense Advertising Supplies Misc. General Expense YANG's Various Creditors

6,000.00 50,000.00 34,500.00

^ ^ PJ CM ^

42,000.00 710 630 710

^ PJ

34,000.00 6,000.00 561,500.00 (310)

CASH PAYMENT JOURNAL Cash (credit) 25,000.00 650.00 1,500.00 900.00 4,410.00 5,880.00 70,000.00 16,700.00 13,000.00 720.00 15,680.00 45,000.00 700.00 2,800.00 60.00 100.00

Purchase Discount Purchase R & A (credit) (credit)

Sundry (debit) 25,000.00 650.00 1,500.00 900.00

90.00 120.00 70,000.00

720.00 320.00 700.00 2,800.00 60.00 100.00 500.00

9,000.00 6,237.00 10,000.00 500.00 18,000.00 300.00 940.00 70,000.00 90,000.00 900.00 3,000.00 3,100.00 1,500.00 7,500.00 70,000.00 4,000.00 67,000.00

63.00 10,000.00 500.00 300.00 940.00 70,000.00 900.00 3,000.00 3,100.00 1,500.00 7,500.00 70,000.00 4,000.00 1,200.00

10,000.00 1,000.00 150.00 34,300.00 26,264.00 33,320.00

10,000.00 1,000.00 150.00 700.00 536.00 680.00

checking -

6,000.00 49,500.00 34,500.00 2,500.00 41,160.00 1,200.00 150.00 120.00 34,000.00 6,000.00 845,241.00 (110)

500.00 2,500.00 840.00 1,200.00 150.00 120.00

3,849.00 (540)

1,700.00 (530)

289,290.00 (^)

-

SALES JOURNAL Date 200x Sept. 2

Sept. 4 Sept. 6

Sept. 8

Sept. 11 Sept. 13

Sept. 18

Sept. 22 Sept. 24

Sept. 29 Sept. 30

Customer J&B Mc Cario R&S Various Customers Dagupan, Inc. EverGood ODOC B&S Kool TONY WEAR Various Customers Abanao Shop B&C ODOC EverGood K&S Mc Cario Various Customers Abanao Shop HC Dagupan, Inc. Kool ODOC Various Customers Dagupan, Inc. R&S Various Customers

Inv. No.

PR

# 0201 # 0202 # 0203 CS Inv. # 0204 # 0205 # 0206 # 0207 # 0208 # 0209 # 0210 CS Inv. # 0211 # 0212 # 0213 # 0214 # 0215 # 0216 CS Inv. # 0217 # 0218 # 0219 # 0220 # 0221 CS Inv. # 0222 # 0223 CS Inv.

^ ^ ^ ^ ^ ^

^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^ ^

Accounts Receivable (debit)

Sales (credit)

6,900.00 10,000.00 5,000.00 79,000.00 9,600.00 2,500.00 5,000.00 31,000.00 65,000.00 14,000.00 24,000.00 68,000.00 86,000.00 74,000.00 25,000.00 44,500.00 39,500.00 18,000.00 109,800.00 50,000.00 69,000.00 19,000.00 60,000.00 4,300.00 74,000.00 86,000.00 120,000.00 43,500.00

6,900.00 10,000.00 5,000.00 79,000.00 9,600.00 2,500.00 5,000.00 31,000.00 65,000.00 14,000.00 24,000.00 68,000.00 86,000.00 74,000.00 25,000.00 44,500.00 39,500.00 18,000.00 109,800.00 50,000.00 69,000.00 19,000.00 60,000.00 4,300.00 74,000.00 86,000.00 120,000.00 43,500.00

1,242,600.00 (130)

1,242,600.00 (420)

checking -

ACCOUNTS RECEIVABLE LEDGERS 1 Name: Address: Date 200x Sept. 13 Sept. 14 Sept. 22 Sept. 24

ABANAO SHOP 42 Abanao, Baguio City Explanation

Ref.

S.I. # 0211 Paid in full S.I. # 0217 Paid in full

SJ CRJ SJ CRJ

Name: Address: Date 200x 31-Aug Sept. 13 Sept. 14

B&C 16 Harrison Rd., Baguio City Explanation Ref.

Name: Address: Date 200x Sept. 8

B&S 1489 Magsaysay St., Baguio City Explanation Ref.

Name: Address: Date 200x Sept. 6 Sept. 14

DAGUPAN INC. 84 Lake Drive, Baguio City Explanation

Ref.

Debit

S.I. # 0204 Paid in full

SJ CRJ

9,600.00

Terms: Debit

Credit

86,000.00 86,000.00 50,000.00 50,000.00

2

Beg. Balance S.I. # 0212 Paid in full

SAR SJ CRJ

Terms: Debit

Credit

11,600.00 74,000.00 74,000.00

3

S.I. # 0207

SJ

Terms: Debit

Credit

31,000.00

4 Terms: Credit

9,600.00

Sept. 24 Sept. 28 Sept. 29

S.I. # 0219 Paid in full S.I. # 0222

SJ CRJ SJ

19,000.00 19,000.00 86,000.00

5 Name: Address: Date 200x 31-Aug Sept. 3 Sept. 6 Sept. 14 Sept. 18 Sept. 28

EVERGOOD 542 Session Rd., Baguio City Explanation Ref.

Name: Address: Date 200x Sept.22 Sept.24

HC 3018 Bonifacio St., Baguio City Explanation Ref.

Name: Address: Date 200x Sept. 2 Sept. 10

J&B 135 Leonard Wood, Baguio City Explanation Ref.

Name: Address:

K&S 44 Otek St., Baguio City

Beg. Balance Paid in full S.I. # 0205 Paid in full S.I. # 0214 Paid in full

SAR CRJ SJ CRJ SJ CRJ

Terms: Debit

Credit

10,000.00 10,000.00 2,500.00 2,500.00 44,500.00 44,500.00

6

S.I. # 0218 Paid in full

SJ CRJ

Terms: Debit

Credit

69,000.00 69,000.00

7

S.I. # 0201 Paid in full

SJ CRJ

Terms: Debit

Credit

6,900.00 6,900.00

8 Terms:

Date 200x Sept. 18 Sept. 28

9

10

S.I. # 0215 Paid in full

Ref. SJ CRJ

Name: Address: Date 200x Sept. 8 Sept. 24 Sept. 28

KOOL 99 Rivera St., Baguio City Explanation

Ref.

S.I. # 0208 S.I. # 0220 Paid in full

SJ SJ CRJ

Name: Address: Date 200x 31-Aug

MC CARIO 871 Brookside, Baguio City Explanation

Ref.

Beg. Balance S.I. # 0202 CM for Sales Returns Paid in full S.I. # 0216 Paid in full

SAR SJ CRJ CRJ SJ CRJ

Sept. 7 Sept. 10 Sept. 18 Sept. 28

11

Explanation

Name: Address: Date 200x Sept. 6 Sept. 7 Sept. 13 Sept. 14 Sept. 24 Sept. 29

Credit

39,500.00 39,500.00

Terms: Debit

Credit

65,000.00 60,000.00 60,000.00

Terms:

ODOC 42 Badihoy Rd., Baguio City Explanation Ref. S.I. # 0206 Paid in full S.I. # 0213 CM S.I. # 0221 CM

Debit

SJ CRJ SJ CRJ SJ CRJ

Debit

Credit

9,000.00 10,000.00 150.00 9,850.00 18,000.00 18,000.00

Terms: Debit

Credit

5,000.00 5,000.00 25,000.00 25,000.00 4,300.00 150.00

12 Name: Address: Date 200x Sept. 2 Sept. 10 Sept. 29

R&S 02 Harrison Rd., Baguio City Explanation Ref.

Name: Address: Date 200x 31-Aug Sept. 3 Sept. 8

TONY 1 Marcoville, Baguio City Explanation

Ref.

Debit

Beg. Balance Paid in full S.I. 0209

SAR CRJ SJ

8,000.00

Name: Address: Date 200x 31-Aug Sept. 3 Sept. 8

WEAR 57 Ferguson Rd., Baguio City Explanation Ref.

S.I. # 0203 Paid in full S.I. # 0223

SJ CRJ SJ

Terms: Debit

Credit

5,000.00 5,000.00 120,000.00

13 Terms: Credit

8,000.00 14,000.00

14

Beg. Balance Paid in full S.I. # 0210

SAR CRJ SJ

Terms: Debit

Credit

5,000.00 5,000.00 24,000.00

ERS

2/10, n/30

WAGWAG ENTERPRISES Schedule of Accounts Receivable September 30, 200x

Balance 86,000.00 50,000.00 -

2/10, n/30 Balance 11,600.00 85,600.00 11,600.00

2/10, n/30 Balance 31,000.00

2/10, n/30 Balance 9,600.00 -

B&C B&S Dagupan Kool Mc Cario ODOC R&S TONY WEAR Total

19,000.00 86,000.00

2/10, n/30 Balance 10,000.00 2,500.00 44,500.00 -

2/10, n/30 Balance 69,000.00 -

2/10, n/30 Balance 6,900.00 -

2/10, n/30

Balance 39,500.00 -

2/10, n/30 Balance 65,000.00 125,000.00 65,000.00

2/10, n/30 Balance 9,000.00 19,000.00 18,850.00 9,000.00 27,000.00 9,000.00

2/10, n/30 Balance 5,000.00 25,000.00 4,300.00 4,150.00

2/10, n/30 Balance 5,000.00 120,000.00

2/10, n/30 Balance 8,000.00 14,000.00

2/10, n/30 Balance 5,000.00 24,000.00

AG ENTERPRISES f Accounts Receivable ember 30, 200x

11,600.00 31,000.00 86,000.00 65,000.00 9,000.00 4,150.00 120,000.00 14,000.00 24,000.00 364,750.00

Checking: 43,600.00 1,242,600.00 (921,450.00) 364,750.00

CASH RECEIPTS JOURNAL Date

Particulars

OR No.

200x Sept. 3

EverGood TONY WEAR Sept. 4 Various Customers Sept. 7 ODOC Mc Cario Sept. 10 J&B Mc Cario R&S Sept. 11 Various Customers Sept. 14 Abanao Shop B&C Dagupan Inc. EverGood ODOC Sept. 18 Various Customers Sept. 24 Abanao Shop HC Various Customers Purchase R & A Sept. 28 EverGood K&S Mc Cario Dagupan Inc. Kool Sept. 29 ODOC Sept. 30 Various Customers Sept. 29 Purchase R & A

CM

CM

PR ^ ^ ^ SJ ^ ^ ^ ^ ^ SJ ^ ^ ^ ^ ^ SJ ^ ^ SJ 530 ^ ^ ^ ^ ^ ^ SJ 530

Cash (debit)

Sales Discount (debit)

9,800.00 7,840.00 4,900.00 79,000.00 4,900.00

200.00 160.00 100.00

6,762.00 9,653.00 4,900.00 68,000.00 84,280.00 72,520.00 9,408.00 2,450.00

138.00 197.00 100.00

109,800.00 49,000.00 67,620.00 74,000.00 440.00 43,610.00 38,710.00 17,640.00 18,620.00 58,800.00

100.00

1,720.00 1,480.00 192.00 50.00

1,000.00 1,380.00

890.00 790.00 360.00 380.00 1,200.00

43,500.00 937.00 887,090.00 (110)

10,437.00 (440)

S JOURNAL Sales R & A (debit)

150.00

25,000.00

Accounts Receivable Sundry (credit) (credit) 10,000.00 8,000.00 5,000.00 79,000.00 5,000.00 150.00 6,900.00 9,850.00 5,000.00 68,000.00 86,000.00 74,000.00 9,600.00 2,500.00 25,000.00 109,800.00 50,000.00 69,000.00 74,000.00 440.00

150.00

44,500.00 39,500.00 18,000.00 19,000.00 60,000.00 150.00 43,500.00 937.00

25,300.00 (430)

921,450.00 (130)

1,377.00 (^)

checking -

GENERAL JOURNAL Date Particulars 200x Sept. 16 Juan Wagwag, Drawings Merchandise Inventory

F

Debit

330 150

4,500.00

Sept. 20 Juan Wagwag, Drawings Merchandise Inventory

330 150

5,000.00

Sept. 29 Juan Wagwag, Drawings Merchandise Inventory

330 150

8,000.00

8) Misc. General Expense Office Supplies Store Supplies Petty Cash Fund

710 170 160

100.00 120.00 100.00

1) Merchandise Inventory, Sept 30 Income Summary

150 410

190,000.00

2) Store Supplies Used Store Supplies

640 160

1,600.00

3) Office Supplies Used Office Supplies

690 170

2,290.00

4) Advertising Supplies Used Advertising Supplies

630 180

1,500.00

5) Insurance Expense Prepaid Insurance

700 190

6,200.00

6) Bad Debts Expense Allowance for Bad Debts

670 140

18,237.50

7) Depreciation Expense Accum. Depn. - Furniture

660 210

6,000.00

420

1,242,600.00

Credit

4,500.00

5,000.00

8,000.00

Sept. 30 Adjusting Entries:

320.00

190,000.00

1,600.00

2,290.00

1,500.00

6,200.00

18,237.50

6,000.00

Closing Entries: 1) Sales

Purchase R & A Purchase Discount Income Summary

430 440 410

3,077.00 3,849.00

2) Income Summary Merchandise Inventory, beg. Sales Returns and Allowances Sales Discount Purchases Freight In Salaries Advertising Advertising Supplies Used Store Supplies Used Rent Expense Depreciation Expense Bad Debts Expense Misc. Selling Expense Office Supplies Used Insurance Expense Misc. General Expense

410 150 430 440 510 520 610 620 630 640 650 660 670 680 690 700 710

1,407,934.50

3) Income Summary Juan Wagwag, Capital

410 320

31,591.50

4) Juan Wagwag, Capital Juan Wagwag, Drawings

320 330

37,500.00

1,249,526.00

388,500.00 27,800.00 10,437.00 686,000.00 1,200.00 210,000.00 5,860.00 1,500.00 1,600.00 25,000.00 6,000.00 18,237.50 7,650.00 2,290.00 6,200.00 9,660.00

31,591.50

37,500.00

GENERAL LEDGER

CASH Date 200x 31-Aug Sept. 30

Oct. 1

Explanation

F

152499.00

GJ CRJ

110,650.00 887,090.00 997,740.00

GJ

152,499.00

Opening Entry

Debit

Date Sept. 30

PETTY CASH Date 200x 31-Aug

Explanation

F

Debit 1,500.00

Date Sept. 30

1,180.00 1,500.00 Oct. 1

Opening Entry

GJ

1,180.00

ACCOUNTS RECEIVABLE Date 200x 31-Aug Sept. 30

Oct. 1

Explanation

F

364,750.00

GJ SJ

Opening Entry

Debit 43,600.00 1,242,600.00 1,286,200.00

Date Sept. 30

364,750.00

ALLOWANCE FOR BAD DEBTS Date

Explanation

Sept. 30

Balance

F

Debit 18,237.50

Date 200x Sept. 30

Sept. 30

MERCHANDISE INVENTORY Date 200x 31-Aug Sept. 30

Explanation

F

AE1

Debit 406,000.00 190,000.00

Date Sept. 16 Sept. 20 Sept. 29 Sept. 30

190,000.00 596,000.00 Oct. 1

Opening Entry

190,000.00

STORE SUPPLIES Date 200x 31-Aug Sept. 1 Sept. 6 Sept. 30

Oct. 1

Explanation

F

1,500.00

CPJ CPJ AE8

Opening Entry

Debit 1,400.00 1,500.00 100.00 100.00 3,100.00

Date Sept. 30

1,500.00

OFFICE SUPPLIES Date 200x 31-Aug Sept. 1 Sept. 6 Sept. 10 Sept. 30

Oct. 1

Explanation

450.00

Opening Entry

F

CPJ CPJ CPJ AE8

Debit 950.00 650.00 720.00 300.00 120.00 2,740.00 450.00

Date Sept. 30

ADVERTISING SUPPLIES Date 200x 31-Aug Sept. 20 Sept. 24

Oct. 1

Explanation

900.00

F

CRJ CRJ

Opening Entry

Debit

Date

1,250.00 1,000.00 150.00 2,400.00

Sept. 30

900.00

PREPAID INSURANCE Date 200x 31-Aug Sept. 15

Oct. 1

Explanation

F

1,550.00

GJ CPJ

Opening Entry

Debit

Date

4,650.00 3,100.00 7,750.00

Sept. 30

1,550.00

FURNITURE Date 200x 31-Aug Oct. 1

Explanation

F

60,000.00

Debit 60,000.00

Opening Entry

Date Sept. 30

60,000.00

ACCUM. DEPRECIATION - FURNITURE Date

Explanation

Sept. 30

Balance

F

Debit 36,000.00

Date 200x 31-Aug Sept. 30

36,000.00 Oct. 1

ACCOUNTS PAYABLE Date

Explanation

Sept. 30

F CPJ

Balance

Debit 561,500.00 180,800.00 742,300.00

Date 200x 31-Aug Sept. 30

Oct. 1

JUAN WAGWAG, CAPITAL Date

Explanation

Sept. 30

F CE4

Balance

Debit 37,500.00 537,791.50 575,291.50

Date 200x 31-Aug Sept. 30

Oct. 1

JUAN WAGWAG, DRAWING Date 200x Sept. 10 Sept. 20 Sept. 16 Sept. 20 Sept. 29

Explanation

F CPJ CPJ GJ GJ GJ

Debit 10,000.00 10,000.00 4,500.00 5,000.00 8,000.00 37,500.00

Date Sept. 30

INCOME SUMMARY

Date

Explanation

Sept. 30

F CE2 CE3

Debit 1,407,934.50 31,591.50 1,439,526.00

Date 200x Sept. 30

SALES Date

Explanation

Sept. 30

F CE1

Debit 1,242,600.00

Date 200x Sept. 30

SALES RETURNS AND ALLOWANCES Date 200x Sept. 23 Sept. 30

Explanation

F CPJ CRJ

Debit 2,500.00 25,300.00 27,800.00

Date Sept. 30

SALES DISCOUNT Date 200x Sept. 30

Explanation

F CRJ

Debit 10,437.00

Date Spt. 30

PURCHASES Date 200x Sept. 30

Explanation

F

Debit

Date

PJ

686,000.00

Sept. 30

FREIGHT IN Date 200x Sept. 8 Sept. 10

Explanation

F

Debit

CPJ CPJ

700.00 500.00 1,200.00

Date Sept. 30

PURCHASE RETURNS AND ALLOWANCES Date

Explanation

Sept. 30

F CE1

Debit 3,077.00

Date 200x Sept. 27 Sept. 30 Sept. 30

3,077.00

PURCHASE DISCOUNT Date Sept. 30

Explanation

F CE1

Debit 3,849.00

Date 200x Sept. 30

SALARIES Date 200x Sept. 4 Sept. 11 Sept. 18

Explanation

F CPJ CPJ CPJ

Debit

Date

70,000.00 70,000.00 70,000.00 210,000.00

Sept. 30

ADVERTISING Date 200x Sept. 2 Sept. 6 Sept. 14 Sept. 20

Explanation

F CPJ CPJ CPJ CPJ

Debit 900.00 60.00 900.00 4,000.00 5,860.00

Date Sept. 30

ADVERTISING SUPPLIES USED Date 200x Sept. 30

Explanation

F AE4

Debit 1,500.00

Date Sept. 30

STORE SUPPLIES USED

Date 200x Sept. 30

Explanation

F AE2

Debit

Date

1,600.00

Sept. 30

RENT EXPENSE Date 200x Sept. 1

Explanation

F CPJ

Debit 25,000.00

Date Sept. 30

DEPRECIATION EXPENSE Date 200x Sept. 30

Explanation

F AE7

Debit 6,000.00

Date Sept. 30

BAD DEBTS EXPENSE Date 200x Sept. 30

Explanation

F AE6

Debit 18,237.50

Date Sept. 30

MISCELLANEOUS SELLING EXPENSE Date 200x Sept. 18 Sept. 20

Explanation

F CPJ CPJ

Debit 7,500.00 150.00 7,650.00

Date Sept. 30

OFFICE SUPPLIES USED Date 200x Sept. 30

Explanation

F AE3

Debit 2,290.00

Date Sept. 30

INSURANCE EXPENSE Date 200x Sept. 30

Explanation

F AE5

Debit 6,200.00

Date Sept. 30

MISCELLANEOUS GENERAL EXPENSE Date 200x Sept. 8 Sept. 10

Explanation

F CPJ CPJ

Debit 2,800.00 940.00

Date Sept. 30

Sept. 15 Sept. 18 Sept. 24 Sept. 27 Sept. 30

CPJ CPJ CPJ CPJ AE8

3,000.00 1,500.00 1,200.00 120.00 100.00 9,660.00

GENERAL LEDGER

CASH

No. 110

Checking: debit

Explanation

F CPJ

Balance

PETTY CASH

Credit 845,241.00 152,499.00 997,740.00

Cash Totals

997,740.00 14,841,369.00

No. 120 Explanation

F AE8

Balance

UNTS RECEIVABLE

Credit 320.00 1,180.00 1,500.00

No. 130 Explanation

F

Credit

CRJ

921,450.00 364,750.00 1,286,200.00

Balance

ANCE FOR BAD DEBTS

No. 140

Explanation

F

18,237.00

AE6

Credit 18,237.50

-

Opening Entry

18,237.50

ANDISE INVENTORY

No. 150

Explanation

F GJ GJ GJ CE2

Balance

TORE SUPPLIES

Credit 4,500.00 5,000.00 8,000.00 388,500.00 190,000.00 596,000.00

No. 160 Explanation

F AE2

Balance

Credit 1,600.00 1,500.00

3,100.00

FFICE SUPPLIES

No. 170 Explanation

F AE3

Balance

Credit 2,290.00 450.00

2,740.00

RTISING SUPPLIES

No. 180 Explanation

F AE4

Balance

Credit 1,500.00 900.00 2,400.00

PAID INSURANCE

No. 190 Explanation

F AE5

Balance

FURNITURE

Credit 6,200.00 1,550.00 7,750.00

No. 200 Explanation

F

Balance

Credit 60,000.00

PRECIATION - FURNITURE

No. 210

Explanation

F

36,000.00

AE7

Credit 30,000.00 6,000.00

36,000.00 Opening Entry

36,000.00

OUNTS PAYABLE

No. 310 Explanation

F

180,800.00

PJ

Opening Entry

538,000.00

No. 320 F

CE3

Opening Entry

OME SUMMARY

Credit 543,700.00 31,591.50 575,291.50 537,791.50

WAGWAG, DRAWING Explanation

56,300.00 686,000.00 742,300.00 180,800.00

WAGWAG, CAPITAL Explanation

Credit

No. 330 F CE4

Credit 37,500.00

37,500.00

No. 410

Explanation

F

Credit

AE1 CE1

190,000.00 1,249,526.00 1,439,526.00

SALES

No. 420 Explanation

F

Credit

SJ

1,242,600.00

URNS AND ALLOWANCES Explanation

No. 430 F CE2

Credit 27,800.00 27,800.00

ALES DISCOUNT

No. 440 Explanation

F CE2

Credit 10,437.00

PURCHASES

No. 510 Explanation

F CE2

FREIGHT IN

Credit 686,000.00

No. 520 Explanation

F CE2

Credit 1,200.00 1,200.00

TURNS AND ALLOWANCES Explanation

No. 530 F CRJ CRJ CPJ

CHASE DISCOUNT

Credit 440.00 937.00 1,700.00 3,077.00

No. 540 Explanation

F CPJ

Credit 3,849.00

SALARIES

No. 610 Explanation

F CE2

210,000.00

210,000.00

ADVERTISING

No. 620 Explanation

F CE2

Credit 5,860.00

5,860.00

ISING SUPPLIES USED

RE SUPPLIES USED

Credit

Explanation

No. 630 F CE2

Credit 1,500.00

No. 640

Explanation

F CE2

ENT EXPENSE

Credit 1,600.00

No. 650 Explanation

F CE2

ECIATION EXPENSE

Credit 25,000.00

No. 660 Explanation

F CE2

DEBTS EXPENSE

Credit 6,000.00

No. 670 Explanation

F CE2

Credit 18,237.50

EOUS SELLING EXPENSE Explanation

No. 680 F CE2

Credit 7,650.00 7,650.00

CE SUPPLIES USED

No. 690 Explanation

F CE2

URANCE EXPENSE

Credit 2,290.00

No. 700 Explanation

F CE2

EOUS GENERAL EXPENSE Explanation

Credit 6,200.00

No. 710 F CE2

Credit 9,660.00

9,660.00

credit 845,241.00 14,841,369.00

Should be 152,499.00

Discrepancy -

Petty Cash Record Date Sept. 2 Sept. 7 Sept. 8 Sept. 9 Sept. 9 Sept. 10 Sept. 11 Sept. 20 Sept. 22 Sept. 24 Sept. 27

Expenses Advertising Store Supplies Replenished Office Supplies Misc. General Expense Replenished Misc. Selling Expense Replenished Misc. General Expense Advertising Supplies Replenished Misc. General Expense Office Supplies Store Supplies

Amount 60.00 100.00 (160.00) 300.00 960.00 (1,260.00) 150.00 (150.00) 1,200.00 150.00 (1,350.00) 100.00 120.00 100.00

WAGW 10-Col For the month e Trial Balance Debit Credit Cash Petty Cash Accounts Receivable Allowance for Bad debts Merchandise Inventory, beg. Merchandise Inventory, end Store Supplies Office Supplies Advertising Supplies Prepaid Insurance Furniture Accum. Depn. -Furniture Accounts Payable Juan Wagwag, Capital Juan Wagwag, Drawing Income Summary Sales Sales Returns and Allowances Sales Discount Purchases Freight In Purchase Returns & Allowances Purchase Discount Salaries Advertising Advertising Supplies Used Store Supplies Used Rent Expense Depreciation Expense Bad Debts Expense Misc. Selling Expense Office Supplies Used Insurance Expense Misc. General Expense

152,499.00 1,500.00 364,750.00 388,500.00 190,000.00 100.00 120.00

3,000.00 2,620.00 2,400.00 7,750.00 60,000.00 30,000.00 180,800.00 543,700.00 37,500.00 1,242,600.00 27,800.00 10,437.00 686,000.00 1,200.00 3,077.00 3,849.00 210,000.00 5,860.00

1,500.00 1,600.00 25,000.00 6,000.00 18,237.50 7,650.00 2,290.00 6,200.00 100.00

9,560.00 2,004,026.00

NET INCOME

Adjustments Debit

2,004,026.00

226,147.50

WAGWAG ENTERPRISES 10-Column Worksheet For the month ended September 30, 200x Adjustments Credit

320.00

Adjusted Trial Balance Debit Credit 152,499.00 1,180.00 364,750.00

18,237.50

1,600.00 2,290.00 1,500.00 6,200.00

Income Statement Debit Credit

152,499.00 1,180.00 364,750.00 18,237.50

388,500.00 190,000.00 1,500.00 450.00 900.00 1,550.00 60,000.00

6,000.00

388,500.00 190,000.00 1,500.00 450.00 900.00 1,550.00 60,000.00 36,000.00 180,800.00 543,700.00

37,500.00 190,000.00

37,500.00 190,000.00 1,242,600.00

27,800.00 10,437.00 686,000.00 1,200.00

190,000.00 1,242,600.00 27,800.00 10,437.00 686,000.00 1,200.00

3,077.00 3,849.00 210,000.00 5,860.00 1,500.00 1,600.00 25,000.00 6,000.00 18,237.50 7,650.00 2,290.00 6,200.00 9,660.00 226,147.50

Balance Sheet Debit

2,218,263.50

3,077.00 3,849.00 210,000.00 5,860.00 1,500.00 1,600.00 25,000.00 6,000.00 18,237.50 7,650.00 2,290.00 6,200.00 9,660.00

2,218,263.50

1,407,934.50 31,591.50

1,439,526.00

810,329.00

1,439,526.00

1,439,526.00

810,329.00

Balance Sheet Credit

18,237.50

36,000.00 180,800.00 543,700.00

778,737.50 31,591.50

810,329.00

WAGWAG ENTERPRISES Income Statement For the Month Ended September 30, 200x

Net Sales Cost of Sales Gross Income Selling Expenses Administrative Expenses Net Income before tax

(note 1) (note 2)

1,204,363.00 878,774.00 325,589.00 251,610.00 42,387.50 31,591.50

(note 3) (note 4)

Note 1: Sales Less: Sales Returns and Allowances Sales Discount Net Sales

1,242,600.00 27,800.00 10,437.00

38,237.00 1,204,363.00

Note 2: Merchandise Inventory, beg. Add: Purchases Freight In Cost of Delivered Goods Less: Purchase Returns and Allowances Purchase Discount Total Goods Available for Sale Less: Merchandise Inventory, end Cost of Sales

388,500.00 686,000.00 1,200.00 3,077.00 3,849.00

687,200.00 1,075,700.00 6,926.00 1,068,774.00 190,000.00 878,774.00

Note 3: Salaries Advertising Advertising Supplies Used Store Supplies Used Rent Expense Misc. Selling Expense Total Selling Expenses

210,000.00 5,860.00 1,500.00 1,600.00 25,000.00 7,650.00 251,610.00

Note 4: Depreciation Expense Bad Debts Expense Office Supplies Used

6,000.00 18,237.50 2,290.00

Insurance Expense Misc. General Expense Total Administrative Expenses

6,200.00 9,660.00 42,387.50

WAGWAG ENTERPRISES Statement of Changes in Owner's Equity For the Month Ended September 30, 200x

Juan Wagwag, Capital Beg. Add: Net Income Total Less: Juan Wagwag, Drawing Juan Wagwag, Capital End

543,700.00 31,591.50 575,291.50 37,500.00 537,791.50

WAGWAG ENTERPRISES Statement of Financial Position September 30, 200x

ASSETS Current Assets: Cash Petty Cash Fund Accounts Receivable Less: Allowance for Bad Debts Merchandise Inventory Store Supplies Office Supplies Advertising Supplies Prepaid Insurance Total Non-Current Assets: Furniture Less: Accum. Depn. - Furniture TOTAL ASSETS

152,499.00 1,180.00 364,750.00 18,237.50

60,000.00 36,000.00

346,512.50 190,000.00 1,500.00 450.00 900.00 1,550.00 694,591.50

24,000.00 718,591.50

LIABILITY AND OWNER'S EQUITY Current Liabity: Accounts Payable Owner's Equity: Juan Wagwag, Capital TOTAL LIABILITY AND OWNER'S EQUITY

180,800.00 537,791.50 718,591.50

WAGWAG ENTERPRISES Statement of Cash Flow For the Month Ended September 30, 200x

Cash, Beginning Balance Add: Cash Receipts Total Less: Cash Payments Cash, Ending Balance

110,650.00 887,090.00 997,740.00 845,241.00 152,499.00

WAGWAG ENTERPRISES Post Closing Trial Balance September 30, 200x

Accounts Cash Petty Cash Accounts Receivable Allowance for Bad debts Merchandise Inventory Store Supplies Office Supplies Advertising Supplies Prepaid Insurance Furniture Accum. Depn. -Furniture Accounts Payable Juan Wagwag, Capital Total

Debit 152,499.00 1,180.00 364,750.00

Credit

18,237.50 190,000.00 1,500.00 450.00 900.00 1,550.00 60,000.00

772,829.00

36,000.00 180,800.00 537,791.50 772,829.00