Modern Applia

Worksh
Dec-3
Unadjusted Trial Adjustments
Account Titles Balance
Dr. Cr. Dr.
Cash ₱ 255,430.00
Notes Receivable 60,000.00
Accounts Receivable 275,600.00
Merchandise Inventory 1,578,650.00
Prepaid Insurance 12,000.00
Office Supplies 6,250.00
Vat Input Tax 22,400.00
Delivery Equipment 500,000.00
Accumulated Depreciation ₱ 50,000.00
Store Equipment 150,000.00
Accumulated Depreciation 15,000.00
Office Equipment 50,000.00
Accumulated Depreciation 10,000.00
Accounts Payable 945,650.00
Notes Payable 100,000.00
Vat Output Tax 30,800.00 (g) 30,800
Mary Modern, Capital 1,505,945.00
Mary Modern, Drawing 60,000.00
Sales 3,760,600.00
Sales Returns & Allowances 37,500.00
Sales Discounts 50,650.00
Purchases 2,625,250.00
Purchases Returns & Allowances 26,250.00
Purchases Discounts 40,560.00
Transportation In 60,250.00
Sales Salary Expense 215,675.00 (e) 10,000
Advertising Expense 33,000.00 (e) 3,000
Commission Expense 75,250.00
Delivery Expense 112,500.00
Misc. Selling Expense 12,450.00
Office Salary Expense 125,900.00 (e) 5,000
Rent Expense 110,000.00 (e) 10,000
Insurance Expense 12,000.00
Office Supplies Expense 16,800.00
Tax Expense 10,250.00
Misc. General Expense 6,200.00
Interest Income 1,200.00
Interest Expense 12,000.00
Total ₱ 6,486,005.00 ₱ 6,486,005.00

Ending Inventory, December 31 (a) 1,650,620

Income Summary
Interest Receivable (b) 1,800
Insurance Expense (c) 5,900
Office Supplies Expense (d) 1,400
Accrued Sundry Payables
Bad Debts Expense (f) 37,606
Allowance for Doutful accounts
Vat Payable
Totals ₱ 1,756,126.00

Answered by: John Gabriel Bondoy of University of Perpetual Help - Molino (ABM 12 - 02)
Modern Appliance Store
Worksheet
Dec-31
Adjustments Adjusted Trial Statement of Comprehensive
Balance Income
Cr. Dr. Cr. Dr. Cr.
₱ 255,430.00
60,000.00
275,600.00
1,578,650.00
(c) 5,900 6,100.00
(d) 1,400 4,850.00
(g) 22,400 -
500,000.00
₱ 50,000.00
150,000.00
15,000.00
50,000.00
10,000.00
945,650.00
100,000.00
-
1,505,945.00
60,000.00
3,760,600.00
37,500.00
50,650.00
2,625,250.00
26,250.00
40,560.00
60,250.00
225,675.00
36,000.00
75,250.00
112,500.00
12,450.00
130,900.00
120,000.00
12,000.00
16,800.00
10,250.00
6,200.00
(b) 1,800 3,000.00
12,000.00
 1,650,620.00
(a) 1,650,620 1,650,620.00
1,800.00
5,900.00
1,400.00
(e) 28,000 28,000.00
37,606.00
(f) 37,606 37,606.00
(g) 8,400 8,400.00
₱ 1,756,126.00 ₱ 8,181,631.00 ₱ 8,181,631.00

o (ABM 12 - 02)
Statement of Financial
Position
Dr. Cr.