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  • Baaccen Shinang-1

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    Prince Pierre
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    The periodic inventory system document shows inventory and accounts payable transactions for various dates throughout the year for Jack Company. It records purchases, sales, freight charges, and payments to and from accounts payable. The trial balance includes assets like cash, accounts receivable, inventory and land. It also includes liabilities like accounts payable, interest payable and mortgage payable. Revenue and expense accounts are listed like sales, purchases, salaries and depreciation. The total debits equal the total credits. The adjustments section will include any needed adjustments to accounts to make the trial balance balanced before preparing the financial statements.

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    BAACCEN_SHINANG-1.xlsx

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    The periodic inventory system document shows inventory and accounts payable transactions for various dates throughout the year for Jack Company. It records purchases, sales, freight charges, and payments to and from accounts payable. The trial balance includes assets like cash, accounts receivable, inventory and land. It also includes liabilities like accounts payable, interest payable and mortgage payable. Revenue and expense accounts are listed like sales, purchases, salaries and depreciation. The total debits equal the total credits. The adjustments section will include any needed adjustments to accounts to make the trial balance balanced before preparing the financial statements.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    62 views6 pages

    Baaccen Shinang-1

    Uploaded by

    Prince Pierre
    The periodic inventory system document shows inventory and accounts payable transactions for various dates throughout the year for Jack Company. It records purchases, sales, freight charges, and payments to and from accounts payable. The trial balance includes assets like cash, accounts receivable, inventory and land. It also includes liabilities like accounts payable, interest payable and mortgage payable. Revenue and expense accounts are listed like sales, purchases, salaries and depreciation. The total debits equal the total credits. The adjustments section will include any needed adjustments to accounts to make the trial balance balanced before preparing the financial statements.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 6

    Periodic Inventory System

    Dec-03 Purchases 56000


    Accounts Payable 56000
    Dec-04 Purchases 44800
    Accounts Payable 44800
    Dec-05 Freight-in 2000
    Cash 2000
    Dec-06 AR 22000
    Sales 22000
    AR 1000
    Cash 1000
    Dec-07 AR 1500
    Cash 1500
    Dec-08 Supplies 1800
    Cash 1800
    Dec-10 Accounts Payable 23072
    Purchase Discount 1120
    Cash 21952
    Dec-14 Accounts Payable 14694.4
    Purchase Discount 1792
    Cash 12902.4
    Dec-15 Freight out 5000
    Cash 5000
    Dec-17 AR 523871.2
    Sales 523871.2
    Dec-17 Accounts Payable 3600
    Purchase Returns 3600
    Dec-18 Accounts Payable 22568.28
    Purchase Discount 293.28
    Cash 22275
    Dec-19 AP 30105.6
    Purchase Discount 602.112
    Cash 29503.488
    Cash 1500
    AR 1500

    Dec-25 Cash 13068


    Sales Discount 220
    AR 13288
    Dec-27 Cash 518632.488
    Sales Discount 5238.712
    AR 523871.2
    Depot Wholesale Supply Jack Company
    23072 56000 14694.4
    3600
    30105.6
    26672 56000
    29328

    Cash AR
    300000 70000
    2000 22000
    1000 1000
    1800 523871.2
    21952 1500
    12902.4
    5000 618371.2
    22275 79712
    1500 29503.488
    13068 1500
    518632.488 Supplies
    833200.488 97932.888 25000
    735267.6 1800
    26800

    AP Sales Discount
    23072 65000 8765
    14694.4 56000 220
    3600 44800 5238.712
    22568.28 14223.71
    30105.6
    94040.28 165800
    71759.72

    Purchases Purchase Discount


    200000
    56000
    44800
    300800

    Purchase Returns
    4200
    3600
    7800
    Jack Company
    44800

    AR

    1500
    13288
    523871.2
    538659.2

    Supplies

    les Discount

    hase Discount
    1800
    1120
    1792
    293.28
    602.112
    5607.392
    Trial Balance
    Account Title Dr. Cr.
    Cash 735267.6
    Petty Cash Fund 10700
    AR 79712
    Allowance for Bad Debts 2500
    Notes Receivable 150000
    Office Supplies Inventory 26800
    Merchandise Inventory 100000
    Prepaid Insurance 5000
    Prepaid Rent 10000
    Building 1000500
    Accu-Dep- Building 187833.33
    Office Equipment 50000
    Accu-Dep-Office Equipment 5670
    Land 1500000
    AP 71759.72
    NP 30125
    Unearned Rent Revenue 46000
    Interest Payable 1200
    Mortgage Payable 500311
    Sales 1234678
    Earned Rent Revenue 46000
    Sales Discount 14223.7
    Sales Returns 5913
    Purchases 300800
    Purchase Discount 5607.392
    Purchase Returns 7800
    Salaries Expense 36000
    Miscellaneous Expense 1722.67
    Interest Expense 2100
    Freight-in 4000
    Freight-out 7000
    Depreciation Expense 89833.33
    De Veyra, Capital 1449216.67
    Total 4132072.3 3586201.112
    Adjustments Adjusted Trial Balance
    Dr. Cr. Dr. Cr.
    Unadjusted Trial Balance
    Dr. Cr.
    300000
    10700
    70000
    2500
    150000
    25000
    100000
    5000
    10000
    1000500
    187833.33
    50000
    5670
    1500000
    65000
    30125
    46000
    1200
    500311
    1234678
    46000
    8765
    5913
    200000
    1800
    4200
    36000
    1722.67
    2100
    2000
    2000
    89833.33
    1449216.67
    3572034 3572034

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