General Ledger Gener

Page Number: GL1 Page Number: GL1

Account 101 Cash Account

Date Item Post Debit Credit Debit Credit Date Item

April 1 GJ-1 P50,700 P50,700 April 4
2 GJ-1 P10,000 40,000 13
3 GJ-1 700 39,300 30
5 GJ-1 200 39,100
11 GJ-1 15,190 23,910
13 GJ-2 14,896 38,806 Gener
14 GJ-2 16,000 22,806 Page Number: GL1
15 GJ-2 2,000 20,806 Account
16 GJ-2 12,000 32,806
17 GJ-2 500 33,806 Date Item
20 GJ-2 500 32,806 April 4
23 GJ-3 16000 48,806
26 GJ-3 12,000 36,806
27 GJ-3 9,000 27,806
28 GJ-3 2,000 25,806
29 GJ-3 500 25,306
30 GJ-3 6,000 P19,306
 General Ledger
mber: GL1
Account 105 Accounts Receivable

Post Debit Credit Debit Credit

GJ-1 15,200 15,200
GJ-1 P15,200 0
GJ-1 13,000 700 P13000

General Ledger
mber: GL1
Account 120 Supplies

Post Debit Credit Debit Credit

GJ-1 P700 P700
 PERPETUAL METHOD PERPETUAL METHOD PERPETUAL METHOD
Apple Distributors Apple Distributors Apple Distributors
Trial Balance Statement of Financial Performance Statement of Changes in Equity
30-Apr-18 For the period ended April 30,2018 For the period ended April 20,2018
Account No. Account Title Debit Credit
101 Cash P19,306 Net Sales P43,396 J. Perez Capital April 1 xxxx
105 Accounts Receivable 13,000 Less: Cost of Sales 33,000 Initial Investment P50,000
115 Merchandise Inventory 24,390 Gross Profit 12,246 Less: Drawings 2,000
120 Supplies 700 Less: Operating Expenses Add Net Profit 2,196
150 Equipment 10,000 Advertising P1,000 J. Perez Capital April 30 50,196
201 Accounts Payable P5,200 Freight out 200
202 Notes Payable 12,000 Rent 3,000
301 Perez, Capital 50,000 Salaries 3,500
302 Perez, Drawing 2,000 Utilities 500 8,200
401 Sales 44,200 Net Profit P2,196
405 Sales return and allowances 500
410 Sales discounts 304
501 Cost of good sold 33,000
503 Advertising expense 1,000
506 Freight out 200
510 Rent expense 3,000
530 Salaries expense 3,500
540 Utilities expense 500
Total P111,400 P111,400

PERPETUAL METHOD PERPETUAL METHOD and PERIODIC METHOD

Apple Distributors Apple Distributors
Statement of Financial Position Statement of Cash Flow
For the period ended April 20,2018 For the period ended April 20,2018
Ref: April
Assets Cash Flow from Operating activities
Cash received from:
Current Asset: Sales P16,000 23
Cash and Cash Equivalent P19,306 Receivable collection 14,896 13
Receivable 13,000 Refund from purchase 500 17
Inventories 24,390 Payment for:
Supplies 700 Office Supples -700 3
Total Current Assets 57,396 Freight on Cold Goods -200 5
Goods Bought -52,190 11,14,26,27
30 except
Non-Current Asset: Operating Expenses -8,000 freight
Property, Plant and Equipment 10,000 Refund form customers -500 SRA
Total Assets P 67,396 Freight on Purchases -500 PRA
Net Cash flow form Operating activities P30,694
Liabilities and Equity
Cash Flow from Investing activities
Current Liabilites Computer and Equipment purchased P(10,000)
Accounts Payable P5,200 Net Cash flow form Investing activities P(10,000)

Non-current Liabilities Cash Flow from Financing activities

Notes Payable 12,000 Initial Investment P50,000
Total Liabilities P17,200 Borrowings 12,000
Drawings -2,000
Owner's Equity Net Cash Flow from Financing activities 60,000
J.Perez, Capital 50,196
Total Liabilities and Equity P67,396
 CLOSING ENTRIES- PERPETUAL METHOD
Page: GJ4
Date Description Ref Debit Credit
Apr-30 Sales 401 44,200
Income Summary 601 43,396
Sales Return and Allowances 405 500
Sales Discount 410 304

Income Summary 601 41,200

Cost of Good Sold 33,000
Advertising 1,000
Freight out 200
Rent 3,000
Salaries 3,500
Utilities 500

Income Summary 2,196

J. Perez, Capital 2,196

J. Perez, Capital 2,000

J. Perez, Drawing 2,000

Apple Distributors
Post- Closing Trial Balance
April 30,2018

Acct No. Assets

101 Cash and Cash Equivalents P19,306

105 Receivable 13,000
115 Inventories 24,390
120 Supplies 700
150 Equipment 10,000
201 Accounts Payable P5,200
202 Notes Payable 12,000
301 Perez, Capital 50,196
Total P67,396 P67,396
 PERIODIC METHOD PERIODIC METHOD
Apple Distributors Apple Distributors
Trial Balance Statement of Cost of Good Sold
30-Apr-18 For the period ended April 30,2018
Account
Account Title Debit Credit
No.
101 Cash P19,306 Merchandise Inventory, April 1 xxxx
105 Accounts Receivable 13,000 Purchases P58,200
120 Supplies 700 Less: Purchase Return and Allowances -1,000
150 Equipment 10,000 Purchase Discount -310
201 Accounts Payable P5,200 Add: Freight In 500
202 Notes Payable 12,000 Less: Merchandise Inventory, April 30 -30,000
301 Perez, Capital 50,000 Cost of Good Sold P27,390
302 Perez, Drawing 2,000
401 Sales 44,200 PERIODIC METHOD
405 Sales return and allowances 500 Apple Distributors
410 Sales discounts 304 Statement of Financial Performance
501 Purchases 58,200 For the period ended April 30,2018
502 Purchase Return and Allowances 1,000
503 Purchase Discount 310 Net Sales P43,396
504 Freight in 500 Less: Cost of Sales -27,390
503 Advertising expense 1,000 Gross Profit 16,006
506 Freight out 200 Less: Operating Expenses
510 Rent expense 3,000 Advertising P1,000
530 Salaries expense 3,500 Freight out 200
540 Utilities expense 500 Rent 3,000
Total P112,710 P112,710 Salaries 3,500
Utilities 500 8,200
Net Profit P7,806
 PERIODIC METHOD PERIODIC METHOD
Apple Distributors Apple Distributors
Statement of Financial Position Statement of Changes in Equity
For the period ended April 20,2018 For the period ended April 20,2018

Assets J. Perez Capital April 1 xxxx

Initial Investment P50,000
Current Asset: Less: Drawings 2,000
Cash and Cash Equivalent P19,306 Add Net Profit 7,806
Receivable 13,000 J. Perez Capital April 30 P55,806
Inventories 30,000
Supplies 700
Total Current Assets 63,006

Non-Current Asset:
Property, Plant and Equipment 10,000
Total Assets P73,006

Liabilities and Equity

Current Liabilites
Accounts Payable P5,200

Non-current Liabilities
Notes Payable 12,000
Total Liabilities P17,200

Owner's Equity
J.Perez, Capital 55,806
Total Liabilities and Equity P73,006
 CLOSING ENTRIES- PERIODIC METHOD
Page: GJ4
Date Description Ref Debit
Apr-30 Sales 401 44,200
Income Summary 601
Sales Return and Allowances 405
Sales Discount 410

Merchandise Inventory End 30,000

Purchase Return and Allowances 1,000
Purchase Discounts 310
Income Summary (COGS) 27,390
Purchases
Freight In

Income Summary 601 8,200

Advertising
Freight out
Rent
Salaries
Utilities

Income Summary 7,806

J. Perez, Capital

J. Perez, Capital 2,000

J. Perez, Drawing

Apple Distributors
Post- Closing Trial Balance
April 30,2018

Acct No. Assets

101 Cash and Cash Equivalents P19,306

105 Receivable 13,000
115 Inventories 30,000
120 Supplies 700
150 Equipment 10,000
201 Accounts Payable
202 Notes Payable
301 Perez, Capital
Total P73,006
THOD

Credit

43,396
500
304

58,200
500

1,000
200
3,000
3,500
500

7,806

2,000

P5,200
12,000
55,806
P73,006