Page Number GJ1

Date DESCRIPTION REF# Debit Credit

Sept 01 CASH 201 P 49,000.00 P
CO, CAPITAL 401 49,000.00
To record initial investment of Ms. Soriano

Sept 02 EQUIPMENT 214 20,000.00

CASH 201 20,000.00
To record Purchase of equipment paid in cash

Sept 03 PURCHASES 701 25,900.00

ACCOUNTS PAYABLE 503 25,900.00
To record bought merchandise from Valencia Supply Co. on account

Sept 03 SUPPLIES 210 1,500.00

CASH 201 1,500.00
To record bought supplies paid in cash

Sept 04 ACCOUNT RECEIVABLE 204 25,200.00

SALES 501 25,200.00
To record sold merchandise on account

Sept 05 FREIGHT OUT 605 400.00

CASH 201 400.00
To record Freight paid in cash

Sept 06 ACCOUNTS PAYABLE 301 800.00

PURCHASES RETURNDS AND ALLOWANCES 207 800.00
To record return merchandise to Valencia Supply Co.

Sept 10 ACCOUNTS PAYABLE 301 25,100.00

CASH 201 24,598.00
PURCHASES DISCOUNTS 207 502.00
To record Full payment Valentia Supply Co.

Sept 12 CASH 201 24,696.00

SALES DISCOUNT 605 504.00
ACCOUNT RECEIVABLE 304 25,200.00
To record Full payment of sold merchandise

Sept 14 PURCHASES 601 24,400.00

CASH 201 24,400.00
To record bought Merchandise paid in cash

Page Number GJ2

Date DESCRIPTION REF# Debit Credit
Sept 15 SALARIES 712 5,000.00
CASH 301 5,000.00
To record payment of salaries paid in cash

Sept 16 CASH 201 P 42,000.00 P

NOTES PAYABLE 302 42,000.00
To record barrowed money on notes from PS bank

Sept 17 CASH 201 800.00

PURCHASES RETURNDS AND ALLOWANCES 207 800.00
To record refund Received on merchandise bought in cash

Sept 19 PURCHASES 701 24,200.00

ACCOUNTS PAYABLE 503 24,200.00
To record bought merchandise from David supply Co. on account

Sept 21 FREIGHT IN 207 800.00

CASH 201 800.00
To record payment of freight from purchases last Sept 19

Sept 24 CASH 201 26,400.00

SALES 501 26,400.00
To record sold merchandise paid in cash

Sept 25 PURCHASES 701 22,300.00

CASH 201 22,300.00
To record bought merchandise paid in cash

Sept 26 ACCOUNTS PAYABLE 701 19,000.00

CASH 301 19,000.00
To record partial payment to David supply Co.

Sept 27 CO, DRAWINGS 402 20,000.00

CASH 201 20,000.00
To record S. Co withdrawal for personal used

Sept 28 SALE RETURN & ALLOWANCES 503 1,500.00

CASH 201 1,500.00
To record Returned merchandise to customer

Sept 29 ACCOUNT RECEIVABLE 204 23,700.00

SALES 301 23,700.00
To record sold merchandise on account

Page Number GJ3

Date DESCRIPTION REF# Debit Credit
Sept 30 ADVERTISING EXPENSE 604 2,000.00
UTILITIES 607 1,400.00
RENT EXPENSE 608 2,500.00
SALARIES 609 5,000.00
CASH 201 10,900.00
To record payment of operating expenses

Page Number GJ4

Date DESCRIPTION REF# Debit Credit
Sept 30 Sales 75,300.00
Income Summary 73,296.00
 Sales Returned & allowances 1,500.00
Sales Discount 504.00

Merchandise Inv. End 31,798.00

Purchased returned & allowances 1,600.00
Purchased Discount 502.00
Income Summary 63,700.00
Purchases 96,800.00
Freight In 800.00

Income Summary 16,300.00

Freight out 400.00
Advertising Expense 2,000.00
Salaries 10,000.00
Rent Expense 2,500.00
Utilities 1,400.00

CO, Capital 6,704.00

Income Summary 6,704.00
To close Net Loss

CO, Capital 20,000.00

CO, Drawing 20,000.00
To closed withdrawal account

Page number General Ledger 1

Account 201 CASH BALANCE
Date Item Pos Debit Credit Debit Credit
t
Sept 01 CO, CAPITAL GJ1 P 49,000.00 P P 49,000.00 P
 Sept 02 EQUIPMENT GJ1 20,000.00 29,000.00
Sept 03 SUPPLIES GJ1 1,500.00 27,500.00
Sept 05 FREIGHT OUT GJ1 400.00 27,100.00
Sept 10 ACCOUNTS PAYABLE GJ1 24,598.00 2,502.00
Sept 12 RECEIVABLES GJ1 24,696.00 27,198.00
Sept 14 PURCHASES GJ1 24,400.00 2,798.00
Sept 15 SALARIES GJ1 5,000.00 (2,202.00)
Sept 16 NOTES PAYABLE GJ2 42,000.00 39,798.00
Sept 17 MERCHANDISE INVENTORY GJ2 800.00 40,598.00
Sept 21 Freight In GJ2 800.00 39,798.00
Sept 24 SALES GJ2 26,400.00 66,198.00
Sept 25 Purchases GJ2 22,300.00 43,898.00
Sept 26 ACCOUNTS PAYABLE GJ2 19,000.00 24,898.00
Sept 27 CO, DRAWINGS GJ2 20,000.00 4,898.00
Sept 28 SALE RETURN & ALLOWANCES GJ2 1,500.00 3,398.00
Sept 30 OPERATING EXPENSE GJ3 10,900.00 (7,502.00)

Account 204 ACCOUNTS RECEIVABLE BALANCE

Date Item Post Debit Credit Debit Credit
Sept 04 SALES GJ1 P 25,200.00 P P 25,200.00 P
Sept 12 CASH GJ1 25,200.00 0
Sept 29 SALES GJ2 23,700.00 23,700.00

Account 307 MERCHANDISE INVENTORY BALANCE

Date Item Post Debit Credit Debit Credit
9-30 Closing GJ4 P 31,798.00 P P 31,798.00 P

Page number General Ledger 2

Account 210 SUPPLIES BALANCE
Date Item Post Debit Credit Debit Credit
Sept 03 CASH GJ1 P 1,500.00 P 1,500.00
 Account 214 EQUIPMENT BALANCE
Date Item Post Debit Credit Debit Credit
Sept 02 CASH GJ1 P 20,000.00 P 20,000.00

Account 301 ACCOUNTS PAYABLE BALANCE

Date Item Post Debit Credit Debit Credit
Sept 03 PURCHASES GJ1 P 25,900.00 P 25,900.00
Sept 06 PURCHASES R & A GJ1 800.00 25,200.00
Sept 10 CASH GJ1 25,200.00 0
Sept 19 PURCHASES GJ2 24,200.00 24,200.00
Sept 26 PURCHASES GJ2 19,000.00 5,200.00

Account 302 NOTES PAYABLE BALANCE

Date Item Post Debit Credit Debit Credit
Sept 16 CASH GJ2 P 42,000.00 P 42,000.00

Account 401 CO, CAPITAL BALANCE

Date Item Post Debit Credit Debit Credit
Sept 01 CASH GJ1 P P 49,000.00 P P 49,000.00
Sept Closing GJ4 6,704.00 42,296.00
Sept Closing GJ4 20,000.00 22,296.00

Page number General Ledger 3

Account 402 CO, DRAWINGS BALANCE
Date Item Post Debit Credit Debit Credit
Sept 27 CASH GJ2 P 20,000.00 P P 20,000.00 P
Sept Closing GJ4 20,000.00 0
 Account 501 SALES BALANCE
Date Item Post Debit Credit Debit Credit
Sept 04 Accounts Receivables GJ1 P P 25,200.00 P P 25,200.00
Sept 24 CASH GJ2 26,400.00 51,600.00
Sept 29 Accounts Receivables GJ3 23,700.00 75,300.00
Sept 30 Closing GJ4 75,300.00 0

Account 503 SALE RETURN & ALLOWANCES BALANCE

Date Item Post Debit Credit Debit Credit
Sept 28 CASH GJ2 P 1,500.00 P P 1,500.00 P
GJ4 1,500.00 0

Account 505 SALES DISCOUNT BALANCE

Date Item Post Debit Credit Debit Credit
Sept 12 A/R GJ1 P 504.00 P P 504.00 P
Sept 30 GJ4 504.00 0

Page number General Ledger 4

Account 701 PURCHASES BALANCE
Date Item Post Debit Credit Debit Credit
9-3 A/p GJ1 P 25,900.00 P 25,900.00
9-14 Cash GJ1 24,400.00 50,300.00
9-19 A/P GJ2 24,200.00 74,500.00
9-25 Cash GJ2 22,300.00 96,800.00
9-30 Closing GJ4 96,800.00 0

Account 704 PURCHASES RETURNDS BALANCE

AND ALLOWANCES
Date Item Post Debit Credit Debit Credit
9-6 A/P GJ1 P P 800.00 P P 800.00
9-17 Cash GJ2 800.00 1,600.00
GJ4 1,600.00 0

Account 705 PURCHASES DISCOUNTS BALANCE

Date Item Post Debit Credit Debit Credit
9-10 A/P GJ1 P P 502.00 P P 502.00
GJ4 502.00 0

Account 607 UTILITIE BALANCE

Date Item Post Debit Credit Debit Credit
Sept 30 CASH GJ3 P 1,400.00 P 1,400.00
Sept 30 Closing GJ4 1,400.00 0

Page number General Ledger 5

Account 608 RENT EXPENSE BALANCE
Date Item Post Debit Credit Debit Credit
Sept 30 CASH GJ3 P 2,500.00 P 2,500.000
Sept 30 Closing GJ4 2,500.00

Account 708 ADVERTISING EXPENSE BALANCE

Date Item Post Debit Credit Debit Credit
P 2,000.00 P 2,000.00 P
2,000.00 0

Account 709 FREIGHT OUT BALANCE

Date Item Post Debit Credit Debit Credit
P 400.00 P P 400.00 P
400.00 0

Account 707 FREIGHT IN BALANCE

Date Item Post Debit Credit Debit Credit
9-21 Cash GJ2 P 800.00 P P 800.00 P
800.00 0

Account 609 SALARIES BALANCE

Date Item Post Debit Credit Date Item
Sept 15 CASH GJ1 P 5,000.00 P Sept 15 CASH
Sept 30 CASH GJ3 5,000.00 Sept 30 CASH
Sept 30 Closing GJ4 10,000.00 Sept 30 Closing
Account 609 SALARIES BALANCE Account
Account 801 INCOME SUMMARY BALANCE
Date Item Post Debit Credit Debit Credit
P P 73,296.00 P P 73,296.00
63,700.00 9,596.00
16,300.00 (6,704.00)
6,704.00 0

SARJE DISTRIBUTOR
STATEMENT OF COST OF GOODS SOLD
FOR THE MONTH ENDED SEPTEMBER 30, 2019
Merchandize Inventory August 31, 2020 P 0 P
PURCHASES 96,800.00
Add: Freight In 800.00
Goods Available for Sale 97,600.00
Less:
PURCHASES RETURNDS AND ALLOWANCES 1,600.00
PURCHASES DISCOUNTS 502.00
Merchandize Inventory September 30, 2019 31,798.00 33,900.00
COST OF GOOD SOLD P 63,700.00

SARJE DISTRIBUTOR
Preliminary Trial Balance
FOR THE MONTH ENDED SEPTEMBER 30, 2019
REF# Account Titles Debit Credit
201 CASH P (7,502.00) P
204 ACCOUNT RECEIVABLE 23,700.00
207 MERCHANDISE INVENTORY
210 SUPPLIES 1,500.00
214 EQUIPMENT 20,000.00
301 ACCOUNTS PAYABLE 5,200.00
302 NOTES PAYABLE 42,000.00
401 CO, CAPITAL 49,000.00
402 CO, DRAWINGS 20,000.00
501 SALES 75,300.00
503 SALE RETURN & ALLOWANCES 1,500.00
505 SALES DISCOUNT 504.00
701 PURCHASES 96,800.00
702 PURCHASES RETURNDS AND ALLOWANCES 1,600.00
703 PURCHASES DISCOUNTS 502.00
704 UTILITIES 1,400.00
705 RENT EXPENSE 2,500.00
706 ADVERTISING EXPENSE 2,000.00
707 FREIGHT OUT 400.00
708 FREIGHT IN 800.00
709 SALARIES 10,000.00
TOTAL P 173,602.00 P 173,602.00

SARJE DISTRIBUTOR
STATEMENT OF PERFORMANCE
FOR THE MONTH ENDED SEPTEMBER 30, 2019
Sales P 75,300.00
Less: SALE RETURN & ALLOWANCES P 1,500.00
SALES DISCOUNT 504.00 2,004.00
Net SALE P 73,296.00
Less COST OF GOODS SOLD 63,700.00
GROSS PROFIT P 9,596.00
Less: Operating expense
ADVERTISING EXPENSE 2,000.00
FREIGHT OUT 400.00
UTILITIES 1,400.00
RENT EXPENSE 2,500.00
SALARIES 10,000.00 16,400.00
Net Loss (P 6,704.00)

SARJE DISTRIBUTOR
STATEMENT OF EQUITY
FOR THE MONTH ENDED SEPTEMBER 30, 2019

S. CO, Capital P 49,000.00

Less: S. CO Drawing 20,000.00
Total A Santos Capital P 29,000.00
Less: Net Loss ( 6,704.00)
Total S. CO Capital SEPTEMBER 30, 2019 P 22,296.00

SARJE DISTRIBUTOR
STATEMENT OF FINANCIAL POSITION
FOR THE MONTH ENDED SEPTEMBER 30, 2019
ASSETS
Current Assets
CASH P (7,502.00)
RECEIVABLES 23,700.00
INVENTORIES 31,798.00
PREPAID EXPENSES 1,500.00
Total Current Assets P 49,496.00
Non-Current assets
PROPERTY PLANT & EQUIPMENT 20,000.00
Total Non-current Assets 20,000.00
Total Assets P 69,496.00

LIABILITIES & OWNERS EQUITY

Current Liabilities:
ACCOUNTS PAYABLE P 5,200.00
Non-Current Liabilities
NOTES PAYABLE 42,000.00
Total Liabilities 47,200.00
Owners’ Equity
CO, CAPITAL 22,296.00
Total Liabilities & Owners Equity P 69,496.00

SARJE DISTRIBUTOR
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED SEPTEMBER 30, 2019
CASH FLOW FROM OPERATING ACTIVITIES
CASH RECEIVED FROM:
RECEIVABLES P 24,696.00
SALES 26,400.00
REFUND 800.00
CASH PAYMENT FOR:
OFFICE SUPPLIES (1,500.00
FREIGHT OUT (400.00)
PURCHASES (90,298.00)
OPERATING EXPENSES (15,900.00)
FREIGHT ON PURCHASES (800.00)
 RETURNED CUSTOMER (1,500.00)
NET CASH FLOW FROM OPERATING ACTIVITIES (58,502.00)

CASH FLOW FROM INVESTING ACTIVITIES

BOUGHT EQUIPMENT (20,000.00)
CASH FLOW FROM FINACING ACTIVITIES
INITIAL INVESTMENT 49,000.00
LOANS 42,000.00
DRAWING (20,000.00)
NET CASH FLOW FROM INVESTING ACTIVITIES 71,000.00

INCREASE IN CASH & CASH EQUIVALENT P (7,502.00)

CASH & CASH EQUIVALENT Beginning 0
CASH & CASH EQUIVALENT, May 31, 2021 P (7,502.00)

SARJE DISTRIBUTOR
POST – CLOSING TRIAL BALANVE
FOR THE MONTH ENDED SEPTEMBER 30, 2019
Account Titles REF Debit Credit
#
CASH 301 P (7,502.00) P
ACCOUNTS RECEIVABLE, 304 23,700.00
MERCHANDISEM INVENTORY 307 31,798.00
SUPPLIES 310 1,500.00
EQUIPMENT 314 20,000.00
ACCOUNTS PAYABLE 401 5,200.00
NOTES PAYABLE 402 42,000.00
BAUTISTA, CAPITAL 501 22,296.00
T O T A L P 69,496.00 P 69,496.00