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Kimkat Enterprise Journal Entry: Date Items Debit Credit Post Ref
Kimkat Enterprise Journal Entry: Date Items Debit Credit Post Ref
Journal Entry
Supples (120)
Post
Date Items Debit Credit
Ref.
3-Apr purchase ₱ 700.00
Equipment (150)
Date Items Post Debit Credit
Ref.
2-Apr purchase ₱ 10,000.00
Sales (401)
Post
Date Items Debit Credit
Ref.
4-Apr sale ₱ 15,200.00
23-Apr sale ₱ 16,400.00
30-Apr sale ₱ 13,700.00
30-Apr closing ₱ 45,300.00
Salaries (530)
Post
Date Items Debit Credit
Ref.
15-Apr payment ₱ 2,800.00
30-Apr payment ₱ 1,500.00
30-Apr closing ₱ 4,300.00
Utilities (540)
Post
Date Items Debit Credit
Ref.
30-Apr payment ₱ 400.00
4-3- closing ₱ 400.00
₱ 39,000.00
₱ 29,000.00
₱ 28,300.00
₱ 28,100.00
₱ 12,812.00
₱ 27,708.00
₱ 13,308.00
₱ 10,508.00
₱ 22,508.00
₱ 23,008.00
₱ 22,308.00
₱ 38,708.00
₱ 26,408.00
₱ 17,408.00
₱ 15,400.00
₱ 14,500.00
₱ 8,100.00
Balance
Debit Credit
₱ 15,200.00
₱ -
₱ 13,700.00
Balance
Debit Credit
₱ 15,900.00
₱ 3,900.00
₱ 3,600.00
₱ 3,288.00
₱ 17,688.00
₱ 17,188.00
₱ 31,388.00
₱ 32,088.00
₱ 21,588.00
₱ 33,888.00
₱ 22,888.00
Balance
Debit Credit
₱ 700.00
Balance
Debit Credit
₱ 10,000.00
Balance
Debit Credit
₱ 15,900.00
₱ 15,600.00
₱ -
₱ 14,200.00
₱ 5,200.00
Balance
Debit Credit
₱ 12,000.00
Balance
Debit Credit
₱ 39,000.00
₱ 40,196.00
₱ 38,188.00
Balance
Debit Credit
₱ 2,008.00
₱ -
Balance
Debit Credit
₱ 15,200.00
₱ 31,600.00
₱ 45,300.00
₱ -
Balance
Debit Credit
₱ 900.00
₱ -
Balance
Debit Credit
₱ 304.00
₱ -
Balance
Debit Credit
₱ 12,000.00
₱ 22,500.00
₱ 33,500.00
₱ -
Balance
Debit Credit
₱ 1,000.00
₱ -
Balance
Debit Credit
₱ 200.00
₱ -
Balance
Debit Credit
₱ 3,500.00
₱ -
Balance
Debit Credit
₱ 2,800.00
₱ 4,300.00
₱ -
Balance
Debit Credit
₱ 400.00
₱ -
Balance
Debit Credit
₱ 44,096.00
₱ 1,196.00
₱ -
KIMKAT ENTERPRISE
UNADJUSTED TRIAL BALANCE
APR. 30, 2008
Account # Account Title Debit
101 Cash ₱ 8,100.00
105 Accounts Receivable ₱ 13,700.00
115 Merchandise Inventory ₱ 22,888.00
120 Supplies ₱ 700.00
150 Equipment ₱ 10,000.00
201 Accounts Payable
202 Notes Payable
301 KIMKAT, CAPITAL
302 KIMKAT, DRAWINGS ₱ 2,008.00
401 Sales
405 Sales Returns & Allowances ₱ 900.00
410 Sales Discounts ₱ 304.00
501 Cost of Goods Sold ₱ 33,500.00
503 Advertising Expense ₱ 1,000.00
506 Freight Out ₱ 200.00
510 Rent Expense ₱ 3,500.00
530 Salaries ₱ 4,300.00
540 Utilities ₱ 400.00
601 Income Summary ₱ -
TOTAL ₱ 101,500.00
Credit
₱ 5,200.00
₱ 12,000.00
₱ 39,000.00
₱ 45,300.00
₱ 101,500.00
KIMKAT ENTERPRISE
STATEMENT OF PERFORMANCE
FOR THE PERIOD ENDED Apr. 30, 2008
Sales ₱ 45,300.00
Less:
Sales Returns and Allowances ₱ 900.00
Sales Discounts ₱ 304.00
Net Sales ₱ 44,096.00
Less:
Cost of Goods Sold ₱ 33,500.00
Gross Profit ₱ 10,596.00
Less:
Operating Expenses
Advertising ₱ 1,000.00
Freight Out ₱ 200.00
Rent Expense ₱ 3,500.00
Salaries ₱ 4,300.00
Utilities ₱ 400.00
Total Operating Exp. ₱ 9,400.00
Net Income ₱ 1,196.00
KIMKAT ENTERPRISE
Statement of Owners Equity
FOR THE PERIOD ENDED Apr. 30, 2008
KIMKAT, CAPITAL - Apr. 1 ₱ 39,000.00
Add (Net Income) ₱ 1,196.00
Less (KIMKAT, DRAWINGS - Apr. 30) ₱ 2,008.00
Total Owners Equity ₱ 38,188.00
KIMKAT ENTERPRISE
Stament of Financial Position
Apr. 30, 2008
Current Assets
Cash ₱ 8,100.00
Accounts Receivable ₱ 13,700.00
Merchandise Inventory ₱ 22,888.00
Supplies ₱ 700.00
Total Current Assets ₱ 45,388.00
Non-current Assets
Equipment ₱ 10,000.00
Total Non-current Assest ₱ 10,000.00
Total Assets ₱ 55,388.00
Liabilities
Accounts Payable ₱ 5,200.00
Notes Payable ₱ 12,000.00
Total Liabilities ₱ 17,200.00
Total KIMKAT, CAPITAL - Apr. 30 ₱ 38,188.00
Total Liabilities and Owners Equity ₱ 55,388.00
KIMKAT ENTERPRISE
STATEMENT OF CASH FLOW
FOR THE PERIOD ENDED Apr. 30, 2008
CASH FLOW FROM OPERATING ACTIVITIES
CASH RECEIVED FROM
Sales ₱ 16,400.00
Receivable Collections ₱ 14,896.00
Refund from purchases ₱ 500.00
PAYMENT FOR
Office Supplies ₱ 700.00
Freight on Sold Goods ₱ 200.00
Goods Bought ₱ 50,988.00
Operating Expenses ₱ 9,200.00
Refund to Customers ₱ 900.00
Freight on Purchases ₱ 700.00
Net Cash Flow from Operating Activities ₱ 30,892.00
₱ 900.00
₱ 304.00
₱ 44,096.00
₱ 33,500.00
₱ 1,000.00
₱ 200.00
₱ 3,500.00
₱ 4,300.00
₱ 400.00
₱ 1,196.00
₱ 2,008.00
KIMKAT ENTERPRISE
Post Closing Trial Balance
Acct. # Account Titles Debit Credit
101 Cash ₱ 8,100.00
105 Accounts Receivable ₱ 13,700.00
115 Merchandise Inventory ₱ 22,888.00
120 Supplies ₱ 700.00
150 Equipment ₱ 10,000.00
201 Accounts Payable ₱ 5,200.00
202 Notes Payable ₱ 12,000.00
301 KIMKAT, CAPITAL ₱ 38,188.00
302 KIMKAT, DRAWINGS
401 Sales
405 Sales Returns & Allowances
410 Sales Discounts
501 Cost of Goods Sold
503 Advertising Expense
506 Freight Out
510 Rent Expense
530 Salaries
540 Utilities
601 Income Summary
₱ 55,388.00 ₱ 55,388.00