AMV BOOKSTORE & EDUCATIONAL SUPPLY

STATEMENT OF FINANCIAL POSITION

DECEMBER 31, 2015

ASSETS
CASH
ACCOUNTS RECEIVABLE - MR. CO
INVENTORY
PREPAID INSURANCE
SUPPLIES
LAND

LIABILITIES:
ACCOUNTS PAYABLE - MRS. BETICON
MORTGAGE PAYABLE - PNB

OWNER'S EQUITY:
ALCANTARA, CAPITAL

TOTAL LIABILITIES & OWNER'S EQUITY

AJE ON AMV'S BOOKS FOR THE YEAR 2015

1. AN ALLOWANCE OF 4% OF GROSS ACCOUNTS RECEIVABLE IS TO BE EST
2. INVENTORY IS OVERSTATED BY 10,000
3. ONLY 4,000 OF SUPPLIES WAS LEFT
AMV BOOKSTORE & EDUCATIONAL SUPPLY
STATEMENT OF FINANCIAL POSITION
DECEMBER 31, 2015

TOTAL
₱ 250,000.00
₱ 100,000.00
₱ 50,000.00
₱ 24,000.00
₱ 5,000.00
₱ 300,000.00 ₱ 729,000.00

₱ 62,000.00
₱ 25,000.00 ₱ 87,000.00

₱ 642,000.00 ₱ 642,000.00

₱ 729,000.00

V'S BOOKS FOR THE YEAR 2015

ROSS ACCOUNTS RECEIVABLE IS TO BE ESTABLISHED
ORY IS OVERSTATED BY 10,000
4,000 OF SUPPLIES WAS LEFT
 SOURCE DOCUMENTS ACCOUNTING PRACTICE
DATE PARTICULARS
January 5, 2016 PUBLISHING HOUSE B
January 7, 2016 PUBLISHING HOUSE B
February 13, 2016 PUBLISHING HOUSE B
February 14, 2016 WALK-IN CUSTOMER
February 14, 2016 WALK-IN CUSTOMER
February 20, 2016 PUBLISHING HOUSE B
March 2, 2016 MR. TABAG
March 3, 2016 WALK-IN CUSTOMER
March 4, 2016 MR. TABAG
March 19, 2016 WALK-IN CUSTOMER
March 19, 2016 WALK-IN CUSTOMER
April 7, 2016 MR. VOLFANGO
April 7, 2016 MS. MADRID
April 9, 2016 MR. VOLFANGO
April 14, 2016 WALK-IN CUSTOMER
April 14, 2016 WALK-IN CUSTOMER
April 30, 2016 BOOKSTORE D
May 3, 2016 BOOKSTORE D
May 17, 2016 MS. MADRID
June 7, 2016 BOOKSTORE C
June 27, 2016 MS. STA. MARIA
June 30, 2016 BOOKSTORE C
June 30, 2016 MR. MENESES
June 30, 2016 MR. VERGARA
July 9, 2016 MR. HIZON
July 14, 2016 PUBLISHING HOUSE A
July 19, 2016 PUBLISHING HOUSE A
July 30, 2016 MR. ALCANTARA
August 20, 2016 MS. STA. MARIA
August 21, 2016 MR. HIZON
September 11, 2016 DELIVERY SERVICES A
September 11, 2016 BOOKSTORE A
September 19, 2016 BOOKSTORE A
September 20, 2016 BOOKSTORE A
November 17, 2016 BOOKSTORE B
November 18, 2016 BOOKSTORE B
November 19, 2016 J. DOMINGO - PAYROLL MASTER
November 30, 2016 BOOKSTORE B
November 30, 2016 ELECTRIC COMPANY A
December 2, 2016 J. DOMINGO - PAYROLL MASTER
December 9, 2016 MRS. HINAYON
December 12, 2016 MR. HIZON
December 14, 2016 MR. HIZON
December 15, 2016 BANK A
December 17, 2016 BANK B
December 17, 2016 WALK-IN CUSTOMER
December 17, 2016 MR. CO
December 17, 2016 WALK-IN CUSTOMER
 SOURCE DOCUMENTS ACCOUNTING PRACTICE SET
TERMS TRANSACTIONS
N/30 POLITICAL LAW BOOKS
PAYMENTS FOR ACCOUNTS PAYABLE
N/60 CRIMINAL LAW BOOKS

SALES
PAYMENTS FOR ACCOUNTS PAYABLE
N/30

ACCOUNTS RECEIVABLE PAYMENT CASH

SALES
SALES
N/45
1/30, N/60
ACCOUNTS RECEIVABLE PAYMENT CASH

SALES
2/10, N/30 CHILDREN'S BOOKS
PAYMENTS FOR ACCOUNTS PAYABLE
ACCOUNTS RECEIVABLE PAYMENT CASH
3/15, N/45 COOK BOOKS
2/10, EOM
PAYMENTS FOR ACCOUNTS PAYABLE
PERSONAL DRAWING
PERSONAL DRAWING
FOB DESTINATION, FREIGHT COLLECT ADDITIONAL 6000 PHP FOR THE FREIGHT
FOB DESTINATION, FREIGHT COLLECT ADDITIONAL 2000PHP ELEMENTARY TEXTBOOKS
PAYMENTS FOR ACCOUNTS PAYABLE
ADDITIONAL INVESTMENT
ACCOUNTS RECEIVABLE PAYMENT CASH
ACCOUNTS RECEIVABLE PAYMENT CASH
FREIGHT COLLECT - BOOKSTORE A
FOB DESTINATION, FREIGHT COLLECT ADDITIONAL 4000PHP FICTION BOOKS
PAYMENTS FOR ACCOUNTS PAYABLE
 PAYMENTS FOR ACCOUNTS PAYABLE
N/90 AUTOBIOGRAPHIES
AUTOBIOGRAPHIES
PAYMENTS FOR ACCOUNTS PAYABLE
PAYMENTS FOR ACCOUNTS PAYABLE
UTILITIES EXPENSE
SALARIES EXPENSE
ACCOUNTS RECEIVABLE PAYMENT CASH
N/60
PURCHASE RETURNS - DEFECTIVE GOODS
PAYMENT OF MORTGAGE PAYABLE
PAYMENT OF INTEREST PAYABLE

ACCOUNTS RECEIVABLE PAYMENT CASH

SALES
 AMOUNT TYPES
₱ 40,000.00 PURCHASE INVOICE
₱ 29,000.00 CASH DISBURSEMENT VOUCHER
₱ 70,000.00 PURCHASE INVOICE
₱ 200,000.00 CASH SALES INVOICE
₱ 200,000.00 OFFICIAL RECEIPT
₱ 65,000.00 CASH DISBURSEMENT VOUCHER
₱ 100,000.00 CREDIT SALES INVOICE
₱ 50,000.00 CASH SALES INVOICE
₱ 75,000.00 OFFICIAL RECEIPT
₱ 50,000.00 OFFICIAL RECEIPT
₱ 50,000.00 OFFICIAL RECEIPT
₱ 30,000.00 CREDIT SALES INVOICE
₱ 20,000.00 CREDIT SALES INVOICE
₱ 30,000.00 OFFICIAL RECEIPT
₱ 70,000.00 CASH SALES INVOICE
₱ 70,000.00 OFFICIAL RECEIPT
₱ 25,000.00 PURCHASE INVOICE
₱ 24,500.00 CASH DISBURSEMENT VOUCHER
₱ 19,800.00 OFFICIAL RECEIPT
₱ 10,000.00 PURCHASE INVOICE
₱ 10,000.00 CREDIT SALES INVOICE
₱ 10,000.00 CASH DISBURSEMENT VOUCHER
₱ 10,000.00 CASH DISBURSEMENT VOUCHER
₱ 15,000.00 CASH DISBURSEMENT VOUCHER
₱ 95,000.00 CREDIT SALES INVOICE
₱ 15,000.00 PURCHASE INVOICE
₱ 12,000.00 CASH DISBURSEMENT VOUCHER
₱ 40,000.00 OFFICIAL RECEIPT
₱ 10,000.00 OFFICIAL RECEIPT
₱ 60,000.00 OFFICIAL RECEIPT
₱ 4,000.00 CASH DISBURSEMENT VOUCHER
₱ 37,000.00 PURCHASE INVOICE
₱ 20,000.00 CASH DISBURSEMENT VOUCHER
₱ 5,000.00 CASH DISBURSEMENT VOUCHER
₱ 55,000.00 PURCHASE INVOICE
₱ 5,000.00 CREDIT MEMO
₱ 33,000.00 CASH DISBURSEMENT VOUCHER
₱ 28,000.00 CASH DISBURSEMENT VOUCHER
₱ 30,000.00 CASH DISBURSEMENT VOUCHER
₱ 50,000.00 CASH DISBURSEMENT VOUCHER
₱ 77,000.00 OFFICIAL RECEIPT
₱ 25,000.00 CREDIT SALES INVOICE
₱ 1,000.00 CREDIT MEMO
₱ 15,000.00 CASH DISBURSEMENT VOUCHER
₱ 4,000.00 CASH DISBURSEMENT VOUCHER
₱ 400,000.00 CASH SALES INVOICE
₱ 80,000.00 OFFICIAL RECEIPT
₱ 400,000.00 OFFICIAL RECEIPT
 JOURNAL ENTRIES
DATE
JAN. 1, 2016 AMV, CAPITAL
ALLOWANCE FOR BAD DEBTS
TO ADUST THE BAD DEBTS
AMV, CAPITAL
INVENTORY
TO ADJUST THE OVERSTATED INVENTORY
AMV, CAPITAL
SUPPLIES
TO ADJUST THE SUPPLIES
PREPAID RENT
CASH
PAID RENT GOOD FOR 2 YEARS IN ADVANCE
(5000*24)
JAN. 5, 2016 PURCHASES-PUBLISHING HOUSE B
ACCOUNTS PAYABLE
PURCHASED POLITICAL LAW BOOKS FROM PUBLISHING
HOUSE B ON ACCOUNT
JAN. 7, 2016 ACCOUNTS PAYABLE - PUBLISHING HOUSE B
CASH
PAYMENT OF ACCOUNTS PAYABLE TO PUBLISHING
HOUSE B
FEB. 13, 2016 PURCHASES - PUBLISHING HOUSE B
ACCOUNTS PAYABLE
PURCHASED CRIMINAL LAW BOOKS FROM PUBLISHING
HOUSE B ON ACCOUNT
FEB. 14, 2016 CASH
SALES
SOLD MERCHANDISE TO WALK-IN CUSTOMER
FEB. 20, 2016 ACCOUNTS PAYABLE - PUBLISHING HOUSE B
CASH
PAYMENT OF ACCOUNTS PAYABLE TO PUBLISHING
HOUSE B
MAR. 2, 2016 ACCOUNTS RECEIVABLE - MR. TABAG
SALES

SOLD MERCHANDISE TO MR. TABAG ON ACCOUNT

MAR. 3, 2016 CASH
SALES
SOLD MERCHANDISE TO WALK-IN CUSTOMER
MAR. 4, 2016 CASH
ACCOUNTS RECEIVABLE - MR. TABAG
PAYMENT OF ACCOUNTS RECEIVABLE FROM MR.
TABAG
MAR. 19, 2016 CASH
SALES
SOLD MERCHANDISE TO WALK-IN CUSTOMER
APR. 7, 2016 ACCOUNTS RECEIVABLE - MR. VOLFANGO
SALES
SOLD MERCHANDISE TO MR. VOLFANGO ON ACCOUNT(
N /45 )
ACCOUNTS RECEIVABLE - MS. MADRID
SALES
SOLD MERCHANDISE TO MS. MADRID ON ACCOUNT
(1/30, N/60)
APR. 9, 2016 CASH
ACCOUNTS RECEIVABLE - MR. VOLFANGO
PAYMENT OF ACCOUNTS RECEIVABLE FROM MR.
VOLFANGO ON APRIL 7
APR. 14, 2016 CASH
SALES
SOLD MERCHANDISE TO WALK-IN CUSTOMER
APR. 30, 2016 PURCHASES - BOOKSTORE D
ACCOUNTS PAYABLE - BOOKSTORE D
PURCHASED CHILDREN BOOKS FROM BOOKSTORE D ON
ACCOUNT
MAY 3, 2016 ACCOUNTS PAYABLE - BOOKSTORE D
CASH
PURCHASE DISCOUNTS
PAYMENT OF ACCOUNTS PAYABLE TO BOOKSTORE D
ON APRIL 30
MAY 7, 2016 CASH
SALES DISCOUNT
ACCOUNTS RECEIVABLE - MS. MADRID
PAYMENT OF ACCOUNTS RECEIVABLE FROM MS.
MADRID
JUNE 7, 2016 PURCHASES - BOOKSTORE C
ACCOUNTS PAYABLE - BOOKSTORE C
PURCHASED COOK BOOKS FROM BOOKSTORE C ON
ACCOUNT (3/15, N/45)
JUNE 27, 2016 ACCOUNTS RECEIVABLE - MS. STA. MARIA
SALES

SOLD MERCHANDISE TO MS. STA. MARIA ON ACCOUNT

JUNE 30, 2016 ACCOUNTS PAYABLE - BOOKSTORE C
CASH
PAYMENT OF ACCOUNTS PAYABLE TO BOOKSTORE C
ON JUNE 7 TRANSACTION
AMV, DRAWING
 CASH
WITHDRAWN CASH BY MENESES
AMV, DRAWING
CASH
WITHDRAWN CASH BY MR. VERGARA
JULY 9 ,2016 ACCOUNTS RECEIVABLE - MR. HIZON
SALES

SOLD MERCHANDISE TO MR. HIZON ON ACCOUNT

FREIGHT OUT
ACCOUNTS RECEIVABLE - MR. HIZON
PAID FREIGHT OUT - FOB DESTINATION, FREIGHT
COLLECT
JULY 14, 2016 PURCHASES- PUBLISHING HOUSE A
ACCOUNTS PAYABLE - PUBLISHING HOUSE A
PURCHASED ELEMENTARY TEXTBOOKS FROM
PUBLISHING HOUSE A ON ACCOUNT
ACCOUNTS PAYABLE - PUBLISHING HOUSE A
CASH
PAID FREIGHT IN - FREIGHT COLLECT FOR THE
PURCHASES TO PUBLISHING HOUSE A
JULY 19, 2016 ACCOUNTS PAYABLE - PUBLISHING HOUSE A
CASH

PAID PUBLISHING HOUSE A FOR JULY 14 TRANSACTION

JULY 30, 2016 CASH
AMV, CAPITAL

ADDITIONAL INVESTMENT FROM MR. ALCANTARA

AUG. 20, 2016 CASH
ACCOUNTS RECEIVABLE - MS. STA. MARIA
RECEIVED PAYMENT FROM MS. STA. MARIA
AUG. 21, 2016 CASH
ACCOUNTS RECEIVABLE - MR. HIZON
RECEIVED PAYMENT FROM MR. HIZON
SEPT 11, 2016 PURCHASES - BOOKSTORE A
ACCOUNTS PAYABLE - BOOKSTORE A
PURCHASED FICTION BOOKS TO BOOKSTORE A ON
ACCOUNT
FREIGHT IN
CASH
PAID FREIGHT COLLECT FOR THE PURCHASES TO
BOOKSTORE A
SEPT. 19, 2016 ACCOUNTS PAYABLE - BOOKSTORE A
CASH
 PAID PARTIAL PAYMENT TO BOOKSTORE A
SEPT 20,2016 ACCOUNTS PAYABLE - BOOKSTORE A
CASH
PAID PURCHASES TO BOOKSTORE A FOR SEPT. 11
TRANSACTION
NOV. 17, 2016 PURCHASES - BOOKSTORE B
ACCOUNTS PAYABLE - BOOKSTORE B
PURCHASED AUTOBIOGRAPHIES TO BOOKSTORE B
ON ACCOUNT
NOV. 18, 2016 ACCOUNTS PAYABLE - BOOKSTORE B
PURCHASE RETURN & ALLOWANCES
RETURN DEFECTIVE AUTOBIOGRAPHIES TO
BOOKSTORE B
NOV. 19, 2016 SALARIES EXPENSE
CASH

PAID SALARIES TO J. DOMINGO - PAYROLL MASTER

NOV. 30, 2016 ACCOUNTS PAYABLE - BOOKSTORE B
CASH
PAID PURCHASES TO BOOKSTORE B FOR NOV 17
TRANSACTION
UTILITIES EXPENSE
CASH
PAID ELECTRIC COMPANY A
DEC. 2, 2016 SALARIES EXPENSE
CASH
PAID SALARIES TO J. DOMINGO - PAYROLL MASTER

DEC. 9, 2016 CASH

SALES
SALES FROM WALK-IN CUSTOMER
DEC. 12, 2016 ACCOUNTS RECEIVABLE - MR. HIZON
SALES
SOLD MERCHANDISE TO MR. HIZON ON ACCOUNT
(N/60)
DEC. 14, 2016 SALES RETURNS & ALLOWANCES
ACCOUNTS RECEIVABLE
SALES RETURNS OF DEFECTIVE GOODS FROM MR.
HIZON
DEC. 15, 2016 MORTGAGE PAYABLE - BANK A
CASH
PAID MORTGAGE PAYABLE TO BANK A
DEC. 17, 2016 INTEREST EXPENSE
CASH
PAID INTEREST PAYABLE TO BANK B
 CASH
SALES
SOLD MERCHANDISE TO A WALK-IN CUSTOMER
CASH
ACCOUNTS RECEIVABLE - MR. CO
RECEIVED PAYMENT FROM MR. CO
ADJUSTMENTS
DEC. 31, 2016 RENT EXPENSE
PREPAID RENT
TO ADJUST THE PREPAID RENT (5000*12)
INSURANCE EXPENSE
PREPAID INSURANCE
TO ADJUST THE PREPAID INSURANCE
BAD DEBTS EXPENSE
ALLOWANCE FOR BAD DEBTS
TO ADJUST THE BAD DEBTS
SUPPLIES EXPENSE
SUPPLIES
TO ADJUST THE SUPPLIES
JOURNAL ENTRIES
DEBIT CREDIT
₱ 4,000.00
₱ 4,000.00

₱ 10,000.00
₱ 10,000.00

₱ 1,000.00
₱ 1,000.00

₱ 120,000.00
₱ 120,000.00

₱ 40,000.00
₱ 40,000.00

₱ 29,000.00
₱ 29,000.00

₱ 70,000.00
₱ 70,000.00

₱ 200,000.00
₱ 200,000.00

₱ 65,000.00
₱ 65,000.00

₱ 100,000.00
₱ 100,000.00

₱ 50,000.00
₱ 50,000.00

₱ 75,000.00
₱ 75,000.00
₱ 50,000.00
₱ 50,000.00

₱ 30,000.00
₱ 30,000.00

₱ 20,000.00
₱ 20,000.00

₱ 30,000.00
₱ 30,000.00

₱ 70,000.00
₱ 70,000.00

₱ 25,000.00
₱ 25,000.00

₱ 25,000.00
₱ 24,500.00
₱ 500.00

₱ 19,800.00
₱ 200.00
₱ 20,000.00

₱ 10,000.00
₱ 10,000.00

₱ 10,000.00
₱ 10,000.00

₱ 10,000.00
₱ 10,000.00

₱ 10,000.00
 ₱ 10,000.00

₱ 15,000.00
₱ 15,000.00

₱ 95,000.00
₱ 95,000.00

₱ 6,000.00
₱ 6,000.00

₱ 15,000.00
₱ 15,000.00

₱ 2,000.00
₱ 2,000.00

₱ 12,000.00
₱ 12,000.00

₱ 40,000.00
₱ 40,000.00

₱ 10,000.00
₱ 10,000.00

₱ 60,000.00
₱ 60,000.00

₱ 37,000.00
₱ 37,000.00

₱ 4,000.00
₱ 4,000.00

₱ 20,000.00
₱ 20,000.00
₱ 5,000.00
₱ 5,000.00

₱ 55,000.00
₱ 55,000.00

₱ 5,000.00
₱ 5,000.00

₱ 33,000.00
₱ 33,000.00

₱ 28,000.00
₱ 28,000.00

₱ 30,000.00
₱ 30,000.00

₱ 50,000.00
₱ 50,000.00

₱ 77,000.00
₱ 77,000.00

₱ 25,000.00
₱ 25,000.00

₱ 1,000.00
₱ 1,000.00

₱ 15,000.00
₱ 15,000.00

₱ 4,000.00
₱ 4,000.00
 ₱ 400,000.00
₱ 400,000.00

₱ 80,000.00
₱ 80,000.00

ADJUSTMENTS
₱ 60,000.00
₱ 60,000.00

₱ 8,000.00
₱ 8,000.00

₱ 9,800.00
₱ 9,800.00

₱ 3,500.00
₱ 3,500.00
 GENERAL LEDGER
CASH
DATE ITEM DEBIT DATE
JAN 1 INITIAL BALANCE ₱ 250,000.00 JAN 1
FEB 14 SALES - WALK-IN CUSTOMER ₱ 200,000.00 7
MAR 3 SALES - WALK-IN CUSTOMER ₱ 50,000.00 FEB 20
4 ACCOUNTS RECEIVABLE - MR. TABAG ₱ 75,000.00 MAY 3
19 SALES - WALK-IN CUSTOMER ₱ 50,000.00
APR 9 ACCOUNTS RECEIVABLE - MR. VOLFANGO ₱ 30,000.00 JUN 30
14 SALES - WALK-IN CUSTOMER ₱ 70,000.00 30
7 ACCOUNTS RECEIVABLE - MS. MADRID ₱ 19,800.00 30

JUL 30 AMV, CAPITAL ₱ 40,000.00 JUL 14

AUG 20 ACCOUNTS RECEIVABLE - MS. STA. MARIA ₱ 10,000.00 19

21 ACCOUNTS RECEIVABLE - MR. HIZON ₱ 60,000.00 SEP 11
DEC 9 SALES - WALK-IN CUSTOMER ₱ 77,000.00 19
17 SALES - WALK-IN CUSTOMER ₱ 400,000.00 20
17 ACCOUNTS RECEIVABLE - MR. CO ₱ 80,000.00 NOV 19
₱ 1,411,800.00 30
30
DEC 2
15
17

₱ 935,300.00
ACCOUNTS RECEIVABLE
DATE ITEM DEBIT DATE
JAN 1 ACCOUNTS RECEIVABLE - MR. CO ₱ 100,000.00 MAR 4

MAR 2 ACCOUNTS RECEIVABLE - MR. TABAG ₱ 100,000.00 APR 9

APR 7 ACCOUNTS RECEIVABLE - MR. VOLFANGO ₱ 30,000.00 MAY 7

7 ACCOUNTS RECEIVABLE - MS. MADRID ₱ 20,000.00 JUL 9

JUN 27 ACCOUNTS RECEIVABLE - MS. STA. MARIA ₱ 10,000.00 AUG 20

JUL 9 ACCOUNTS RECEIVABLE - MR. HIZON ₱ 95,000.00 21
DEC 14 ACCOUNTS RECEIVABLE - MR. HIZON ₱ 25,000.00 DEC 17

₱ - 15
₱ 380,000.00
₱ 98,000.00
ALLOWANCE FOR BAD DEBTS
DATE ITEM DEBIT DATE
JAN 1
DEC 31
 INVENTORY
DATE ITEM DEBIT DATE
JAN 1 INVENTORY - BEGINNING ₱ 50,000.00 DEC 31

₱ 40,000.00

PREPAID INSURANCE
DATE ITEM DEBIT DATE
JAN 1 PREPAID INSURANCE ₱ 24,000.00 DEC 31

₱ 16,000.00
SUPPLIES
DATE ITEM DEBIT DATE
JAN 1 SUPPLIES ₱ 4,000.00 DEC 31

₱ 500.00
LAND
DATE ITEM DEBIT DATE
JAN 1 LAND ₱ 300,000.00

₱ 300,000.00
PREPAID RENT
DATE ITEM DEBIT DATE
JAN 1 PREPAID RENT ₱ 120,000.00 DEC 31

₱ 60,000.00
LIABILITIES
ACCOUNTS PAYABLE
DATE ITEM DEBIT DATE
JAN 7 PUBLISHING HOUSE B ₱ 29,000.00 JAN 1

FEB 20 PUBLISHING HOUSE B ₱ 65,000.00 JAN 5

MAY 3 BOOKSTORE D ₱ 25,000.00 FEB 13

JUN 30 BOOKSTORE C ₱ 10,000.00 APR 30
JUL 14 FREIGHT COLLECT ₱ 2,000.00 JUN 7

19 PUBLISHING HOUSE A ₱ 12,000.00 JUL 14

SEP 19 BOOKSTORE A ₱ 20,000.00 SEP 11
20 BOOKSTORE A ₱ 5,000.00 NOV 18
PURCHASE RETURN & ALLOWANCES -
NOV 18 BOOKSTORE B ₱ 5,000.00
30 BOOKSTORE B ₱ 28,000.00
₱ 201,000.00

MORTGAGE PAYABLE
DATE ITEM DEBIT DATE
DEC 15 PAYMENT - BANK A ₱ 15,000.00 JAN 1
 CAPITAL
AMV, CAPITAL
DATE ITEM DEBIT DATE
JAN 1 ALLOWANCE FOR BAD DEBTS ₱ 4,000.00 1
1 INVENTORY ₱ 10,000.00 30
1 SUPPLIES ₱ 1,000.00
₱ 15,000.00

AMV, DRAWING
DATE ITEM DEBIT DATE
JUN 30 MR. MENESES ₱ 10,000.00
30 MR. VERGARA ₱ 15,000.00

₱ 25,000.00
INCOME
SALES
DATE ITEM DEBIT DATE
FEB 14
MAR 2
3
19
APR 7
7
14
JUN 27
JUL 9
DEC 9
14
17

SALES RETURNS & ALLOWANCES

DATE ITEM DEBIT DATE
DEC 15 ACCOUNTS RECEIVABLE - MR. HIZON ₱ 1,000.00

SALES DISCOUNT
DATE ITEM DEBIT DATE
MAY 7 ACCOUNTS RECEIVABLE - MS. MADRID ₱ 200.00

PURCHASES
DATE ITEM DEBIT DATE
JAN 5 PURCHASES - PUBLISHING HOUSE B ₱ 40,000.00
FEB 13 PURCHASES - PUBLISHING HOUSE B ₱ 70,000.00
APR 30 PURCHASES - BOOKSTORE D ₱ 25,000.00
JUN 7 PURCHASES - BOOKSTORE C ₱ 10,000.00
JUL 14 PURCHASES- PUBLISHING HOUSE A ₱ 15,000.00
SEP 11 PURCHASES - BOOKSTORE A ₱ 37,000.00
NOV 17 PURCHASES - BOOKSTORE B ₱ 55,000.00
₱ 252,000.00
FREIGHT-IN
DATE ITEM DEBIT DATE
SEP 11 FREIGHT COLLECT - BOOKSTORE A ₱ 4,000.00

FREIGHT-OUT
DATE ITEM DEBIT DATE
JUL 9 FREIGHT COLLECT - MR. HIZON ₱ 6,000.00

PURCHASE RETURNS & ALLOWANCES

DATE ITEM DEBIT DATE

NOV 18

PURCHASE DISCOUNTS
DATE ITEM DEBIT DATE
MAY 3

UTILITIES EXPENSE
DATE ITEM DEBIT DATE
NOV 30 ELECTRIC COMPANY A ₱ 30,000.00

SALARIES EXPENSE
DATE ITEM DEBIT DATE
NOV 19 J. DOMINGO - PAYROLL MASTER ₱ 33,000.00
DEC 2 J. DOMINGO - PAYROLL MASTER ₱ 50,000.00
₱ 83,000.00

BAD DEBTS EXPENSE

DATE ITEM DEBIT DATE
DEC 31 BAD DEBTS EXPENSE ₱ 9,800.00

INSURANCE EXPENSE
DATE ITEM DEBIT DATE
DEC 31 PREPAID INSURANCE ₱ 8,000.00
 SUPPLIES EXPENSE
DATE ITEM DEBIT DATE
DEC 31 SUPPLIES ₱ 3,500.00

RENT EXPENSE
DATE ITEM DEBIT DATE
DEC 31 PREPAID RENT ₱ 60,000.00

INTEREST EXPENSE
DATE ITEM DEBIT DATE
DEC 17 INTEREST EXPENSE ₱ 4,000.00
ER

ITEM CREDIT
PREPAID RENT ₱ 120,000.00
ACCOUNTS PAYABLE- PUBLISHING B ₱ 29,000.00
ACCOUNTS PAYABLE- PUBLISHING B ₱ 65,000.00
ACCOUNTS PAYABLE- BOOKSTORE D ₱ 24,500.00
₱ -
ACCOUNTS PAYABLE - BOOKSTORE C ₱ 10,000.00
AMV, DRAWING ₱ 10,000.00
AMV, DRAWING ₱ 15,000.00
FOB FREIGHT COLLECT - PUBLISHING
HOUSE A ₱ 2,000.00
ACCOUNTS PAYABLE - PUBLISHING HOUSE
A ₱ 12,000.00
FREIGHT-IN ₱ 4,000.00
ACCOUNTS PAYABLE - BOOKSTORE A ₱ 20,000.00
ACCOUNTS PAYABLE - BOOKSTORE A ₱ 5,000.00
SALARIES EXPENSE ₱ 33,000.00
ACOUNTS PAYABLE - BOOKSTORE B ₱ 28,000.00
UTILITIES EXPENSE ₱ 30,000.00
SALARIES EXPENSE ₱ 50,000.00
MORTGAGE PAYABLE - BANK A ₱ 15,000.00
INTEREST EXPENSE - BANK B ₱ 4,000.00
₱ 476,500.00

ABLE
ITEM CREDIT
ACCOUNTS RECEIVABLE - MR. TABAG ₱ 75,000.00

ACCOUNTS RECEIVABLE - MR. VOLFANGO ₱ 30,000.00

ACCOUNTS RECEIVABLE - MS. MADRID ₱ 20,000.00

FREIGHT COLLECT - MR. HIZON ₱ 6,000.00

ACCOUNTS RECEIVABLE - MS. STA. MARIA ₱ 10,000.00

ACCOUNTS RECEIVABLE - MR. HIZON ₱ 60,000.00
ACCOUNTS RECEIVABLE - MR. CO ₱ 80,000.00
SALES RETURN AND ALLOWANCES - MR.
HIZON ₱ 1,000.00
₱ 282,000.00

D DEBTS
ITEM CREDIT
ALLOWANCE FOR BAD DEBTS ₱ 4,000.00
ALLOWANCE FOR BAD DEBTS ₱ 9,800.00
₱ 13,800.00
 ITEM CREDIT
INVENTORY - ADJUSTMENT ₱ 10,000.00

NCE
ITEM CREDIT
PREPAID INSURANCE ₱ 8,000.00

ITEM CREDIT
SUPPLIES ₱ 3,500.00

ITEM CREDIT

T
ITEM CREDIT
PREPAID RENT ₱ 60,000.00

BLE
ITEM CREDIT
MRS. BETICON ₱ 62,000.00

POLITICAL BOOKS- PUBLISHING HOUSE B ₱ 40,000.00

CRIMINAL LAW BOOKS - PUBLISHING
HOUSE B ₱ 70,000.00
CHILDREN'S BOOK - BOOKSTORE D ₱ 25,000.00
COOKBOOKS - BOOKSTORE C ₱ 10,000.00
ELEMENTARY TEXTBOOKS - PUBLISHING
HOUSE A ₱ 15,000.00
FICTION BOOKS - BOOKSTORE A ₱ 37,000.00
AUTOBIOGRAPHIES - BOOKSTORE B ₱ 55,000.00

₱ 314,000.00

₱ 113,000.00

ABLE
ITEM CREDIT
MORTGAGE PAYABLE - PNB ₱ 25,000.00
 ₱ 10,000.00

L
ITEM CREDIT
CAPITAL -- BEGINNING ₱ 642,000.00
ADDITIONAL INVESTMENT ₱ 40,000.00
₱ 682,000.00

₱ 667,000.00
G
ITEM CREDIT

ITEM CREDIT
WALK-IN CUSTOMER ₱ 200,000.00
MR. TABAG ₱ 100,000.00
WALK-IN CUSTOMER ₱ 50,000.00
WALK-IN CUSTOMER ₱ 50,000.00
MR. VOLFANGO ₱ 30,000.00
MS. MADRID ₱ 20,000.00
WALK-IN CUSTOMER ₱ 70,000.00
MS. STA. MARIA ₱ 10,000.00
MR. HIZON ₱ 95,000.00
WALK-IN CUSTOMER ₱ 77,000.00
MR. HIZON ₱ 25,000.00
WALK-IN CUSTOMER ₱ 400,000.00
₱ 1,127,000.00

OWANCES
ITEM CREDIT

NT
ITEM CREDIT

ITEM CREDIT
 ITEM CREDIT

ITEM CREDIT

LLOWANCES
ITEM CREDIT
DEFECTIVE AUTOBIOGRAHIES - BOOKSTORE
B ₱ 5,000.00

UNTS
ITEM CREDIT
ACCOUNTS PAYABLE - BOOKSTORE D ₱ 500.00

NSE
ITEM CREDIT

NSE
ITEM CREDIT

NSE
ITEM CREDIT

NSE
ITEM CREDIT
NSE
ITEM CREDIT

E
ITEM CREDIT

NSE
ITEM CREDIT
 SUBSIDIARY LEDGER
ACCOUNTS RECEIVABLE
AMV EDUCATIONAL SUPPLY
NAME: MR. ERNESTO CO
ADDRESS
DATE PARTICULARS DEBIT
JAN 1 ACCOUNTS RECEIVABLE ₱ 100,000.00
DEC 17 ACCOUNTS RECEIVABLE

NAME: MR. ENRICO TABAG

ADDRESS
DATE PARTICULARS DEBIT
MAR 2 ACCOUNTS RECEIVABLE ₱ 100,000.00
4 PAYMENT - ACCOUNTS RECEIVABLE

NAME: MR. JOSEPH VOLFANGO

ADDRESS
DATE PARTICULARS DEBIT
APR 7 ACCOUNTS RECEIVABLE ₱ 30,000.00
9 PAYMENT- ACCOUNTS RECEIVABLE

NAME: MS. LADY MADRID

ADDRESS
DATE PARTICULARS DEBIT
APR 7 ACCOUNTS RECEIVABLE ₱ 20,000.00
MAY 7 PAYMENT- ACCOUNTS RECEIVABLE

NAME: MS. KRISTINE STA. MARIA

ADDRESS
DATE PARTICULARS DEBIT
JUN 27 ACCOUNTS RECEIVABLE ₱ 10,000.00
AUG 20 PAYMENT- ACCOUNTS RECEIVABLE

NAME: MR. CARLO KRISTOFFER HIZON

ADDRESS
DATE PARTICULARS DEBIT
JUL 9 ACCOUNTS RECEIVABLE ₱ 95,000.00
FREIGHT COLLECT
AUG 21 PAYMENT- ACCOUNTS RECEIVABLE
DEC 14 ACCOUNTS RECEIVABLE ₱ 25,000.00
 17 SALES RETURN & ALLOWANCES

SUBSIDIARY LEDGER
ACCOUNTS PAYABLES
AMV EDUCATIONAL SUPPLY
NAME: MRS. JO BETICON
ADDRESS
DATE PARTICULARS DEBIT
JAN 1 ACCOUNTS PAYABLE

NAME: PUBLISHING HOUSE B

ADDRESS
DATE PARTICULARS DEBIT
JAN 5 ACCOUNTS PAYABLE - POLITICAL BOOKS
7 PAYMENT - ACCOUNTS PAYABLE ₱ 29,000.00
FEB 13 ACCOUNTS PAYABLE - CRIMINAL LAW BOOKS
20 PAYMENT - ACCOUNTS PAYABLE ₱ 65,000.00

NAME: BOOKSTORE D
ADDRESS
DATE PARTICULARS DEBIT
APR 30 ACCOUNTS PAYABLE- CHILDREN'S BOOKS
MAY 3 PAYMENT - ACCOUNTS PAYABLE ₱ 25,000.00

NAME: BOOKSTORE C
ADDRESS
DATE PARTICULARS DEBIT
JUN 7 ACCOUNTS PAYABLE - COOKBOOKS
JUN 30 PAYMENT - ACCOUNTS PAYABLE ₱ 10,000.00

NAME: PUBLISHING HOUSE A

ADDRESS
DATE PARTICULARS DEBIT
JUL 14 ACCOUNTS PAYABLE - ELEMENTARY BOOKS
FREIGHT COLLECT ₱ 2,000.00
19 PAYMENT - ACCOUNTS PAYABLE ₱ 12,000.00

NAME: BOOKSTORE A
ADDRESS
DATE PARTICULARS DEBIT
SEP 11 FICTION BOOKS - BOOKSTORE A
SEP 19 PAYMENT - ACCOUNTS PAYABLE ₱ 20,000.00
20 PAYMENT - ACCOUNTS PAYABLE ₱ 5,000.00

NAME: BOOKSTORE B
ADDRESS
DATE PARTICULARS DEBIT
NOV 18 ACCOUNTS PAYABLE - AUTOBIOGRAPHIES
NOV 18 PURCHASE RETURN & ALLOWANCES ₱ 5,000.00
30 PAYMENT - ACCOUNTS PAYABLE ₱ 28,000.00

NAME: BANK A - PNB

ADDRESS
DATE PARTICULARS DEBIT
JAN 1 MORTGAGE PAYABLE
DEC 15 PAYMENT - MORTGAGE PAYABLE ₱ 15,000.00
E
PLY

CREDIT BALANCE

₱ 80,000.00
₱ 20,000.00

CREDIT BALANCE

₱ 75,000.00
₱ 25,000.00

CREDIT BALANCE

₱ 30,000.00
₱ -

CREDIT BALANCE

₱ 20,000.00
₱ -

CREDIT BALANCE

₱ 10,000.00
₱ -

CREDIT BALANCE

₱ 6,000.00 ₱ 89,000.00
₱ 60,000.00 ₱ 29,000.00
₱ 54,000.00
 ₱ 1,000.00 ₱ 53,000.00
₱ 53,000.00

PLY

CREDIT BALANCE
₱ 62,000.00
₱ 62,000.00

CREDIT BALANCE
₱ 40,000.00
₱ 11,000.00
₱ 70,000.00 ₱ 81,000.00
₱ 16,000.00
₱ 16,000.00

CREDIT BALANCE
₱ 25,000.00

₱ -

CREDIT BALANCE
₱ 10,000.00

₱ -

CREDIT BALANCE
₱ 15,000.00

₱ 1,000.00
₱ 1,000.00
 CREDIT BALANCE
₱ 37,000.00
₱ 17,000.00
₱ 12,000.00
₱ 12,000.00

CREDIT BALANCE
₱ 55,000.00
₱ 50,000.00
₱ 22,000.00
₱ 22,000.00

CREDIT BALANCE
₱ 25,000.00
₱ 10,000.00
₱ 10,000.00
 UNADJUSTED TRIAL BALANCE
TRANSACTIONS
DEBIT CREDIT
CASH ₱ 935,300.00
ACCOUNTS RECEIVABLE ₱ 98,000.00
ALLOWANCE FOR DOUBTFUL ACCOUNTS ₱ 4,000.00
INVENTORY ₱ 40,000.00
PREPAID INSURANCE ₱ 24,000.00
SUPPLIES ₱ 4,000.00
LAND ₱ 300,000.00
PREPAID RENT ₱ 120,000.00
ACCOUNTS PAYABLE ₱ 113,000.00
MORTGAGE PAYABLE ₱ 10,000.00
AMV, CAPITAL ₱ 667,000.00
AMV, DRAWING ₱ 25,000.00
SALES ₱ 1,127,000.00
SALES RETURNS & ALLOWANCES ₱ 1,000.00
SALES DISCOUNTS ₱ 200.00
PURCHASES ₱ 252,000.00
FREIGHT IN ₱ 4,000.00
FREIGHT OUT ₱ 6,000.00
PURCHASE RETURNS & ALLOWANCES ₱ 5,000.00
PURCHASE DISCOUNTS ₱ 500.00
UTILITIES EXPENSE ₱ 30,000.00
SALARIES EXPENSE ₱ 83,000.00
INTEREST EXPENSE ₱ 4,000.00
₱ 1,926,500.00 ₱ 1,926,500.00
ADJUSTMENTS
BAD DEBTS EXPENSE
INSURANCE EXPENSE
SUPPLIES EXPENSE
RENT EXPENSE
 10 COLUMN WORKSHEET
ADJUSTMENTS ADJUSTED TRIAL BALANCE
DEBIT CREDIT DEBIT CREDIT
₱ 935,300.00
₱ 98,000.00
₱ 9,800.00 ₱ 13,800.00
₱ 40,000.00
₱ 8,000.00 ₱ 16,000.00
₱ 3,500.00 ₱ 500.00
₱ 300,000.00
₱ 60,000.00 ₱ 60,000.00
₱ 113,000.00
₱ 10,000.00
₱ 667,000.00
₱ 25,000.00
₱ 1,127,000.00
₱ 1,000.00
₱ 200.00
₱ 252,000.00
₱ 4,000.00
₱ 6,000.00
₱ 5,000.00
₱ 500.00
₱ 30,000.00
₱ 83,000.00
₱ 4,000.00

₱ 38,000.00 ₱ 38,000.00
₱ 8,000.00 ₱ 8,000.00
₱ 3,500.00 ₱ 3,500.00
₱ 60,000.00 ₱ 60,000.00
₱ 109,500.00 ₱ 81,300.00 ₱ 1,964,500.00 ₱ 1,936,300.00
 INCOME STATEMENT BALANCE SHEET
DEBIT CREDIT DEBIT CREDIT
₱ 935,300.00 ₱ -
₱ 98,000.00 ₱ -
₱ - ₱ 13,800.00
₱ 40,000.00 ₱ 97,000.00 ₱ -
₱ - ₱ 16,000.00 ₱ -
₱ - ₱ 500.00 ₱ -
₱ - ₱ 300,000.00 ₱ -
₱ - ₱ 60,000.00 ₱ -
₱ - ₱ - ₱ 113,000.00
₱ - ₱ - ₱ 10,000.00
₱ - ₱ - ₱ 667,000.00
₱ - ₱ 25,000.00 ₱ -
₱ 1,127,000.00 ₱ - ₱ -
₱ 1,000.00 ₱ - ₱ - ₱ -
₱ 200.00 ₱ - ₱ - ₱ -
₱ 252,000.00 ₱ - ₱ - ₱ -
₱ 4,000.00 ₱ - ₱ - ₱ -
₱ 6,000.00 ₱ - ₱ - ₱ -
₱ 5,000.00 ₱ - ₱ -
₱ 500.00 ₱ - ₱ -
₱ 30,000.00 ₱ - ₱ - ₱ -
₱ 83,000.00 ₱ - ₱ - ₱ -
₱ 4,000.00 ₱ - ₱ - ₱ -
₱ - ₱ - ₱ -
₱ - ₱ - ₱ -
₱ 9,800.00 ₱ - ₱ - ₱ -
₱ 8,000.00 ₱ - ₱ - ₱ -
₱ 3,500.00 ₱ - ₱ - ₱ -
₱ 60,000.00 ₱ - ₱ - ₱ -
₱ 501,500.00 ₱ 1,132,500.00 ₱ 1,531,800.00 ₱ 803,800.00
₱ 631,000.00 ₱ 728,000.00
₱ 1,132,500.00 ₱ 1,531,800.00
 AMV BOOKSTORE
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED DECEMBER 31, 2016
NET SALES
GROSS SALES
LESS: SALES RETURNS & ALLOWANCES
SALES DISCOUNT

LESS: COST OF SALES

BEGINNING INVENTORY
ADD: GROSS PURCHASES
FREIGHT IN
LESS: PURCHASE RETURNS & ALLOWANCES
PURCHASE DISCOUNTS
TOTAL GOODS AVAILABLE FOR SALE
LESS: ENDING INVENTORY
GROSS PROFIT
LESS: OPERATING EXPENSES
UTILITIES EXPENSE
SALARIES EXPENSE
BAD DEBTS EXPENSE
INSURANCE EXPENSE
SUPPLIES EXPENSE
INTEREST EXPENSE
RENT EXPENSE
FREIGHT OUT
NET INCOME
OKSTORE
REHENSIVE INCOME
DECEMBER 31, 2016

₱ 1,127,000.00
-₱ 1,000.00
-₱ 200.00 ₱ 1,125,800.00

₱ 40,000.00
₱ 252,000.00
₱ 4,000.00
-₱ 5,000.00
-₱ 500.00
₱ 290,500.00
-₱ 97,000.00 ₱ 193,500.00
₱ 932,300.00

-₱ 30,000.00
-₱ 83,000.00
-₱ 9,800.00
-₱ 8,000.00
-₱ 3,500.00
-₱ 4,000.00
-₱ 60,000.00
-₱ 6,000.00 -₱ 204,300.00
₱ 728,000.00
 AMV BOOKSTORE
STATEMENT OF CHANGES IN OWNER'S EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2016

AMV, CAPITAL - BEGINNING ₱ 642,000.00

ADD (DEDUCT)
ADDITIONAL INVESTMENTS ₱ 40,000.00
ADJUSTMENTS ₱ 15,000.00
AMV, DRAWING -₱ 25,000.00
NET INCOME ₱ 728,000.00 ₱ 728,000.00
AMV, CAPITAL - END ₱ 1,370,000.00
 AMV BOOKSTORE & EDUCATIONAL SUPPLY
STATEMENT OF FINANCIAL POSITION
DECEMBER 31, 2016

ASSETS
CASH
ACCOUNTS RECEIVABLE (NET)
ACCOUNTS RECEIVABLE - MR. CO ₱ 20,000.00
ACCOUNTS RECEIVABLE - MR. TABAG ₱ 25,000.00
ACCOUNTS RECEIVABLE - MR. HIZON ₱ 53,000.00
LESS: ALLOWANCE FOR DOUBTFUL ACCOUNTS -₱ 13,800.00
INVENTORY
PREPAID INSURANCE
PREPAID RENT
SUPPLIES
LAND
TOTAL ASSETS

LIABILITIES AND OWNER'S EQUITY

LIABILITIES:
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE - MRS. BETICON ₱ 62,000.00
ACCOUNTS PAYABLE - PUBLISHING HOUSE B ₱ 16,000.00
ACCOUNTS PAYABLE - PUBLISHING HOUSE A ₱ 1,000.00
ACCOUNTS PAYABLE - BOOKSTORE A ₱ 12,000.00
ACCOUNTS PAYABLE - BOOKSTORE B ₱ 22,000.00
MORTGAGE PAYABLE - PNB

OWNER'S EQUITY:
AMV, CAPITAL

TOTAL LIABILITIES & OWNER'S EQUITY

SUPPLY
ION

₱ 935,300.00

₱ 84,200.00
₱ 97,000.00
₱ 16,000.00
₱ 60,000.00
₱ 500.00
₱ 300,000.00
₱ 1,493,000.00

TY

₱ 113,000.00
₱ 10,000.00

₱ 1,370,000.00

₱ 1,493,000.00
 ABC COMPANY
STATEMENT OF CASH FLOW
FOR THE YEAR ENDED DECEMBER 31, 2016

CASH FLOW FROM OPERATIONAL ACTIVITIES

NET INCOME
ADD (DEDUCT)
BAD DEBTS EXPENSE ₱9,800.00
TOTAL
ADD (DEDUCT)
DECREASE IN RECEIVABLES ₱2,000.00
INCREASE IN INVENTORY -₱57,000.00
INCREASE IN PREPAID RENT -₱60,000.00
DECREASE IN PREPAID INSURANCE ₱8,000.00
DECREASE IN SUPPLIES ₱3,500.00
INCREASE IN ACCOUNTS PAYABLE ₱51,000.00

NET CASH FLOW FROM OPERATING ACTIVITIES

CASH FLOW FROM INVESTING ACTIVITIES

LAND

NET CASH FLOW FROM INVESTING ACTIVITIES

CASH FLOW FROM FINANCING ACTIVITIES

DECREASE IN MORTGAGE PAYABLE -₱15,000.00
ADDITIONAL INVESTMENT ₱40,000.00
AMV, DRAWING -₱25,000.00

NET CASH FLOW FROM OPERATING ACTIVITIES

ADD: CASH, BEGINNING

CASH - END
OMPANY
OF CASH FLOW
D DECEMBER 31, 2016

IONAL ACTIVITIES
₱728,000.00

₱9,800.00
₱737,800.00

-₱52,500.00

₱685,300.00

TING ACTIVITIES
₱0.00

₱0.00

CING ACTIVITIES

₱0.00

₱0.00

₱685,300.00
₱250,000.00
₱935,300.00