RBSG Distributors

CHART OF ACCOUNTS

Use for Journalization and Posting to the Ledger

1000 ASSETS 4000 INCOME

1001 CASH 4001 SALES
1005 ACCOUNTS RECEIVABLE 4005 SALES RETURNS & ALLOWANCES
1015 MERCHANDISE INVENTORY 4010 SALES DISCOUNTS
1020 SUPPLIES 5000 EXPENSES
1050 EQUIPMENT 5001 PURCHASES
2000 LIABILITIES 5002PURCHASE RETURNS AND ALLOWANCES
2001 ACCOUNTS PAYABLE 5003 PURCHASE DISCOUNT
2002 NOTES PAYABLE 5004 FREIGHT IN
3000 EQUITY 5003 ADVERTISING
3001 RBSG, CAPITAL 5006 FREIGHT OUT
3002 RBSG, DRAWINGS 5010 RENT
5030 SALARIES
5040 UTILITIES
6001 INCOME SUMMARY
 RBSG Distributors
CHART OF ACCOUNTS

Use for Financial Statements Preparation

1000 ASSETS 400 INCOME

1001 CASH & CASH EQUIVALENTS 401 NET SALES
1005 RECEIVABLES 405
1015 INVENTORIES 410
1020 PREPAID EXPENSES 500 EXPENSES
1050 PROPERTY PLANT & EQUIPMENT 501
2000 LIABILITIES 502
COST OF GOODS SOLD
2001 ACCOUNTS PAYABLE 503
2002 NOTES PAYABLE 504
3000 EQUITY 505 ADVERTISING
3001 RBSG, CAPITAL 506 FREIGHT OUT
3002 RBSG, DRAWINGS 510 RENT
530 SALARIES
540 UTILITIES
601 INCOME SUMMARY
DATE
MAY
DATE ACCOUNT TITLES AND EXPLANATION F DEBIT
1 CASH 1001 ₱ 40,000.00
RBSG, CAPITAL 3001
INITIAL INVESTMENT

2 SUPPLIES 1020 1,700

CASH 1001
BOUGHT OFFICE SUPPLIES

3 PURCHASES 5001 15,900

ACCOUNTS PAYABLE 2001
BOUGHT MERCHANDISE ON ACCOUNT

3 EQUIPMENT 1050 10,000

CASH 1001
BOUGHT COMPUTER EQUIPMENT

4 ACCOUNTS RECEIVABLE 1005 16,200

SALES 1015
SOLD MERCHANDISE ON ACCOUNT

5 FREIGHT OUT 5006 1,200

CASH 1001
PAID FREIGHT OUT

6 ACCOUNTS PAYABLE 2001 1,300

PURCHASE RETURN
RECEIVED CREDITAND ALLOWANCES
FROM THE MERCHANDISE 5,002
RETURNED

10 ACCOUNTS PAYABLE 2001 14,600

PURCHASE DISCOUNTS 5003
CASH 1001
PAID GANDA.COM

13 CASH 1001 15,876

SALES DISCOUNT 324
ACCOUNTS RECEIVABLE 1005
COLLECTED CASH FROM MAY 4

15 CASH 1001 12,000

NOTES PAYABLE 2002
BORROWED MONEY FROM THE LANDBANK

15 SALARIES 5030 1,500

CASH 1001
PAID SALARIES

16 PURCHASES 5001 14,400

CASH 1001
BOUGHT MERCHANDISE

17 CASH 1001 500

PURCHASE RETURN AND ALLOWANCES 5002
RECEIVE A REFUND FROM A SUPPLIER
19 PURCHASES 5001 14,200
ACCOUNTS PAYABLE 2001
BOUGHT MERCHANDISE

20 RBSG, DRAWING 3002 3,008

CASH 1001
WITHDRAWALS

22 ACCOUNTS RECEIVABLE 1001 17,400

SALES 4001
SOLD MERCHANDISE

24 ACCOUNTS PAYABLE 2001 10,000

CASH 1001
PARTIAL PAYMENT

26 PURCHASES 5001 12,300

CASH 1001
BOUGHT MERCHANDISE

28 FREIGHT IN 5004 700

CASH 1015
PAID FREIGHT IN, MAY 19

29 ACCOUNTS RECEIVABLE 1005 14,700

SALES 4001
SOLD MERCHANDISE ON ACCOUNT

30 SALES RETURN AND ALLOWANCE 1015 1,900

CASH 1001
REFUND FROM THE CUSTOMERS

30 ADVERTISING 5003 1,000

UTILITIES 5040 1,400
RENT EXPENSE 5010 4,500
SALARIES 5030 2,500
CASH 1001
PAID VARIOUS EXPENSE
 CREDIT

₱ 40,000.00

1,700

15,900

10,000

16,200

1,200

1,300

292
14,308

16,200

12,000

1,500

14,400

500
14,200

3,008

17,400

10,000

12,300

700

14,700

1,900

9,400
 PERIODIC LEDGER

PAGE NUMBER
Account 1001 CASH
Date Item Post Debit Credit Balance
Debit Credit
MAY 1 INITIAL INVESTMENT (FE) GJ-1 ₱ 40,000.00 ₱ 40,000.00
1 2 BOUGHT OFFICE SUPPLIES (OE) GJ-1 ₱ 1,700.00 38,300
3 BOUGHT COMPUTER EQIPMENT (IE) GJ-1 10,000 28,300
1 5 PAID FREIGHT OUT (OE) GJ-1 1,200 27,100
1 10 PAID GANDA.COM (OE) GJ-1 14,308 12,792
1 13 COLLECTED MONEY
BORROWED CASH FROM
FROM MAY
THE4 LANDBANK
(OE) GJ-1 15,876 28,668
15 (FE) GJ-1 12,000 40,668
1 15 PAID SALARIES (OE) GJ-1 1,500 39,168
1 16 BOUGHT MERCHANDISE
RECEIVE A REFUND FROM(OE)
A SUPPLIER GJ-1 14,400 24,768
1 17 (OE) GJ-1 500 25,268
20 WITHDRAWALS (FE) GJ-1 3,008 22,260
1 24 PARTIAL PAYMENT (OE) GJ-1 10,000 12,260
1 26 BOUGHT MERCHANDISE (OE) GJ-1 12,300 -40
1 28 PAID FREIGHT ON MAY 19 (OE) GJ-1 700 -740
1 30 REFUND FROM A CUSTOMER (OE) GJ-1 1,900 -2,640
1 30 PAID VARIOUS EXPENSES (OE) GJ-1 9,400 -₱ 12,040.00

PAGE NUMBER
Account 1005 ACCOUNTS RECEIVABLE
Date Item Post Debit Credit Balance
Debit Credit
MAY 4 SOLD MERCHANDISE ON ACCOUNT GJ-1 ₱ 16,200.00 ₱ 16,200.00
13 COLLECTED CASH FROM MAY 4 GJ-1 ₱ 16,200.00 0
22 SOLD MERCHANDISE GJ-1 17,400 17,400
29 SOLD MERCHANDISE ON ACCOUNT GJ-1 14,700 ₱ 32,100.00

PAGE NUMBER
Account 1020 SUPPLIES
Date Item Post Debit Credit Balance
Debit Credit
MAY 2 BOUGHT OFFICE SUPPLIES GJ-1 ₱ 1,700.00 ₱ 1,700.00

PAGE NUMBER
Account 1050 EQUIPMENT
Date Item Post Debit Credit Balance
Debit Credit
MAY 3 BOUGHT COMPUTER EQUIPMENT GJ-1 ₱ 10,000.00 ₱ 10,000.00

PAGE NUMBER
Account 2001 ACCOUNTS PAYABLE
Date Item Post Debit Credit Balance
Debit Credit
MAY 3 BOUGHT MERCHANDISE
RECEIVED CREDIT FROMON
THEACCOUNT GJ-1 ₱ 15,900.00 ₱ 15,900.00
6 MERCHANDISE RETURNED GJ-1 ₱ 1,300.00 14,600
10 PAID GANDA.COM GJ-1 14,600 0
19 BOUGHT MERCHANDISE GJ-1 14,200 14,200
24 PARTIAL PAYMENT GJ-1 10,000 ₱ 4,200.00

PAGE NUMBER

15
 PERIODIC LEDGER

Account 2002 NOTES PAYABLE

Date Item Post Debit Credit Balance
Debit Credit
MAY 15 BORROWED MONEY FROM THE LANDBANK GJ-1 ₱ 12,000.00 ₱ 12,000.00

PAGE NUMBER
Account 3001 RBSG, CAPITAL
Date Item Post Debit Credit Balance
Debit Credit
MAY 1 INITIAL INVESTMENT GJ-1 ₱ 40,000.00 ₱ 40,000.00
MAY 31 TO CLOSE INCOME TO CAPITAL ₱ 7,568.00 ₱ 47,568.00
MAY 31 TO CLOSE DRAWING ACCOUNT ₱ 3,008.00 ₱ 44,560.00
31 TO CLOSE INCOME

PAGE NUMBER
Account 3002 RBSG, DRAWINGS
Date Item Post Debit Credit Balance
Debit Credit
MAY 20 WITHDRAWALS GJ-1 ₱ 3,008.00 ₱ 3,008.00
MAY 31 TO CLOSE DRAWING ACCOUNT ₱ 3,008.00 0

PAGE NUMBER
Account 4001 SALES
Date Item Post Debit Credit Balance
Debit Credit
MAY 4 SOLD MERCHANDISE ON ACCOUNT GJ-1 ₱ 16,200.00 ₱ 16,200.00
22 SOLD MERCHANDISE GJ-1 17,400 33,600
29 SOLD MERCHANDISE ON ACCOUNT GJ-1 14,700 ₱ 48,300.00
MAY 31 TO CLOSE THE SALES ACCOUNT ₱ 48,300.00 0

PAGE NUMBER
Account 4005 SALES RETURNS & ALLOWANCES
Date Item Post Debit Credit Balance
Debit Credit
MAY 30 REFUND FROM A CUSTOMER GJ-1 ₱ 1,900.00 ₱ 1,900.00
MAY 31 TO CLOSE THE SALES ACCOUNT ₱ 1,900.00 0

PAGE NUMBER
Account 4005 SALES DISCOUNTS
Date Item Post Debit Credit Balance
Debit Credit
MAY 13 COLLECTED CASH FROM MAY 13 GJ-1 ₱ 324.00 ₱ 324.00
MAY 31 TO CLOSE THE SALES ACCOUNT ₱ 324.00 0

PAGE NUMBER
Account 5001 PURCHASES
Date

16
 PERIODIC LEDGER

Date Item Post Debit Credit Balance

Debit Credit
MAY 3 BOUGHT MERCHANDISE ON ACCOUNT GJ-1 ₱ 15,900.00 ₱ 15,900.00
16 BOUGHT MERCHANDISE GJ-1 14,400 30,300
19 BOUGHT MERCHANDISE GJ-1 14,200 ₱ 44,500.00
26 BOUGHT MERCHANDISE GJ-1 12,300 ₱ 56,800.00
31 TO CLOSE THE COST OF GOODS SOLD ₱ 56,800.00 0

PAGE NUMBER
Account 5001 PURCHASES RETURN AND ALLOWANCES
Date Item Post Debit Credit Balance
RECEIVED CREDIT FROM THE MERCHANDISE Debit Credit
MAY 6 RETURNED GJ-1 ₱ 1,300.00 ₱ 1,300.00
17 RECEIVE A REFUND FROM A SUPPLIER GJ-1 500 1,800
31 TO CLOSE THE COST OF GOODS SOLD ₱ 1,800.00 0

PAGE NUMBER
Account 5001 PURCHASE DISCOUNTS
Date Item Post Debit Credit Balance
Debit Credit
MAY 10 PAID GANDA.COM GJ-1 ₱ 292.00 ₱ 292.00
31 TO CLOSE THE COST OF GOODS SOLD ₱ 292.00 0

PAGE NUMBER
Account 5001 FREIGHT IN
Date Item Post Debit Credit Balance
Debit Credit
MAY 28 PAID FREIGHT IN, MAY 19 GJ-1 ₱ 700.00 ₱ 700.00
31 TO CLOSE THE COST OF GOODS SOLD ₱ 700.00 0

PAGE NUMBER
Account 5003 ADVERTISING
Date Item Post Debit Credit Balance
Debit Credit
MAY 30 PAID VARIOUS EXPENSES GJ-1 1,000 ₱ 1,000.00
31 TO CLOSE THE EXPENSE ACCOUNT ₱ 1,000.00 0

PAGE NUMBER
Account 5006 FREIGHT OUT
Date Item Post Debit Credit Balance
Debit Credit

17
 PERIODIC LEDGER

MAY 5 PAID FREIGHT OUT GJ-1 ₱ 1,200.00 ₱ 1,200.00

31 TO CLOSE THE EXPENSE ACCOUNT ₱ 1,200.00 0

PAGE NUMBER
Account 5010 RENT EXPENSE
Date Item Post Debit Credit Balance
Debit Credit
MAY 30 PAID VARIOUS EXPENSES GJ-1 ₱ 4,500.00 ₱ 4,500.00
MAY 31 TO CLOSE THE EXPENSE ACCOUNT ₱ 4,500.00 0

PAGE NUMBER
Account 5030 SALARIES
Date Item Post Debit Credit Balance
Debit Credit
MAY 15 PAID SALARIES GJ-1 ₱ 1,500.00 ₱ 1,500.00
30 PAID VARIOUS EXPENSES GJ-1 2,500 4,000
MAY 31 TO CLOSE THE EXPENSE ACCOUNT ₱ 4,000.00 0

PAGE NUMBER
Account 5040 UTILITIES
Date Item Post Debit Credit Balance
Debit Credit
MAY 30 PAID VARIOUS EXPENSES GJ-1 ₱ 1,400.00 ₱ 1,400.00
MAY 31 TO CLOSE THE EXPENSE ACCOUNT ₱ 1,400.00 0

PAGE NUMBER
Account 6000 INCOME SUMMARY
Date Item Post Debit Credit Balance
Debit Credit
MAY 31 TO CLOSE THE EXPENSE ACCOUNT ₱ 38,508.00 ₱ 38,508.00
MAY 31 TO CLOSE THE SALES ACCOUNT ₱ 46,076.00 -7,568
MAY 31 TO CLOSE INCOME TO CAPITAL ₱ 7,568.00 0

18
 RBSG DISTRIBUTORS
PRELIMINARY TRIAL BALANCE
Month Date, Year
REF
1001
1005
1020
1050
2001
2002
3001
3002
4001
4005
4010
5001
5002
5003
5004
5003
5006
5010
5030
5040
 RBSG DISTRIBUTORS
PRELIMINARY TRIAL BALANCE
Month Date, Year
ACCOUNT TITLES DEBIT CREDIT
CASH -₱ 12,040.00
ACCOUNTS RECEIVABLE ₱ 32,100.00
SUPPLIES ₱ 1,700.00
EQUIPMENT ₱ 10,000.00
ACCOUNTS PAYABLE ₱ 4,200
NOTES PAYABLE ₱ 12,000.00
RBSG, CAPITAL ₱ 40,000.00
RBSG, DRAWINGS ₱ 3,008.00
SALES ₱ 48,300.00
SALES RETURNS & ALLOWANCES ₱ 1,900.00
SALES DISCOUNTS ₱ 324.00
PURCHASES ₱ 56,800.00
PURCHASE RETURN AND ALLOWANCES 1,800
PURCHASE DISCOUNTS 292
FREIGHT IN ₱ 700.00
ADVERTISING 1,000
FREIGHT OUT 1,200
RENT EXPENSE 4,500
SALARIES 4,000
UTILITIES 1,400
TOTAL ₱ 106,592.00 ₱ 106,592.00
\
 PERIODIC COGS

RBSG DISTRIBUTORS
STATEMENT OF GOODS SOLD
MAY 31, 20xx

INVENTORY BEGINNING, MAY 1 0

ADD: PURCHASE ₱ 56,800.00
LESS: PURCHASE RETURN AND ALLOWANCES 1,800
PURCHASE DISCOUNTS 292 -2,092
TOTAL ₱ 54,708.00
ADD: FREIGHT IN 700
GOODS AVAILABLE FOR SALE ₱ 55,408.00
LESS: MERCHANDISE INVENTORY, MAY 31 29,000
COST OF GOODS SOLD ₱ 26,408.00

21
 RBSG DISTRIBUTORS
Statement of Performance
For the month ended        MAY 31 20xx                  

SALES
LESS: SALES RETURN AND ALLOWANCES
SALES DISCOUNTS
NET SALES
LESS: COST OF GOODS SOLD
GROSS PROFIT
LESS: EXPENSES
ADVERTISING
FREIGHT OUT
RENT EXPENSE
SALARIES
UTILITIES
NET PROFIT
 G DISTRIBUTORS
ment of Performance
ded        MAY 31 20xx                  

₱ 48,300.00
₱ 1,900.00
₱ 324.00 -₱ 2,224.00
₱ 46,076.00
-₱ 26,408.00
₱ 19,668.00

1,000
1,200
4,500
4,000
1,400 -12,100
₱ 7,568.00
 RBSG DISTRIBUTORS
Statement of Changes in Equity
For the month ended
RBSG CAPITAL, BEGINNING
ADD: NET PROFIT
TOTAL
LESS: RBSB, DRAWINGS
RBSB CAPITAL, MAY 31, 2021
IBUTORS
nges in Equity

₱ 40,000.00
₱ 7,568.00
₱ 47,568.00
-₱ 3,008.00
₱ 44,560.00
 RBSG DISTRIBUTORS
Statement of Financial Position
As of                            
REF ACCOUNT TITLES
ASSETS
CURRENT ASSETS
1001 CASH & CASH EQUIVALENTS -₱ 12,040.00
1005 RECEIVABLE ₱ 32,100.00
1015 INVENTORIES ₱ 29,000.00
1020 PREPAID EXPENSES ₱ 1,700.00
TOTAL CURRENT ASSETS ₱ 50,760.00
NON-CURRENT ASSETS
1050 PROPERTY PLANT & EQUIPMENT ₱ 10,000.00
TOTAL NON-CURRENT ASSETS ₱ 10,000.00
TOTAL ASSETS ₱ 60,760.00
LIABILITIES
CURRENT LIABILITIES
2001 ACCOUNTS PAYAB;E ₱ 4,200.00
NON-CURRENT LIABILITIES
2002 NOTES PAYABLE ₱ 12,000.00
TOTAL LIABILITIES ₱ 16,200.00
OWNER'S EQUITY
3001 RBSG, CAPITAL ₱ 44,560.00
TOTAL LIABILITIES AND OWNER'S EQUITY ₱ 60,760.00
 RBSG DISTRIBUTORS
Statement of Cash Flow
As of          MAY 31 20xx                  
(IN PESOS)
CASH FLOW FROM OPERATING ACTIVITIES
INFLOW/CASH RECEIVED FROM
RECEIVABLE COLLECTION
RECEIVED REFUND - SUPPLIER

TOTAL
OUTFLOW/PAYMENT FOR
PAYMENT FOR SUPPLIES
PAYMENT FOR FREIGHT OUT
PAYMENT FOR MERCHANDISE INVENTORY (May10,16,24,26)
PAYMENT FOR SALARIES
PAYMENT FOR FREIGHT ON - PURCHASE
REFUND BY THE CUSTOMER
PAYMENT FOR VARIOUS EXPENSES
TOTAL
NET CASH FLOW FROM OPERATING ACTIVITIES

CASH FLOW FROM INVESTING ACTIVITIES

PURCHASE OF EQUIPMENT
NET CASH FLOW FROM INVESTING ACTIVIES

CASH FLOW FROM FINANCING ACTIVITIES

INVESTMENT OF THE OWNER
CASH WITHRAWALS
LOAN FROM THE BANK
NETN CASH FLOW FROM FINANCING ACTIVITIES

TOTAL CASH
₱ 15,876.00
500 1
2
16,376 3
5
-₱ 1,700.00 10
-1,200 13
-51,008 15
-1,500 15
-700
-1,900 16
-9,400 17
-₱ 67,408.00
-₱ 51,032.00 20
22
24
-10,000 26
-10,000 28
30
30
₱ 40,000.00
-3,008
12,000
₱ 48,992.00

-₱ 12,040.00
INITIAL INVESTMENT (FE) GJ-1 ₱ 40,000.00 ₱ 40,000.00 PAGE NUMBER
BOUGHT OFFICE SUPPLIES (OE) GJ-1 -₱ 1,70 38,300
BOUGHT COMPUTER EQIPMENT (IE) GJ-1 ### 28,300 Date
PAID FREIGHT OUT (OE) GJ-1 -1,200 27,100
PAID GANDA.COM (OE) GJ-1 ### 12,792 MAY
COLLECTED CASH FROM MAY 4 (OE GJ-1 15,876 28,668 1
BORROWED MONEY FROM THE LAND GJ-1 12,000 40,668
PAID SALARIES (OE) GJ-1 -1,500 39,168 1
1
BOUGHT MERCHANDISE (OE) GJ-1 ### 24,768 1
RECEIVE A REFUND FROM A SUPPLIGJ-1 500 25,268
1
WITHDRAWALS (FE) GJ-1 -3,008 22,260 1
SOLD MERCHANDISE (OE) GJ-1 17,400 39,660 1
PARTIAL PAYMENT (OE) GJ-1 ### 29,660
BOUGHT MERCHANDISE (OE) GJ-1 ### 17,360 1
PAID FREIGHT ON MAY 19 (OE) GJ-1 -700 16,660 1
REFUND FROM A CUSTOMER (OE) GJ-1 -1,900 14,760 1
PAID VARIOUS EXPENSES (OE) GJ-1 -9,400 ₱ 5,360.00 1
1
 BOUG
PAGE NUMBER
INITIA
HT
BOUG
L
Accou
OFFIC
HT 1001 CASH
Date INVES
nt
E Item
COMP
BORR Post Debit Credit Balance
TMEN
SUPP
UTER
PAID
COLL
OWED Debit Credit
1 T (FE)
LIES
EQIPM
FREIG
ECTE
MONE GJ-1 ### ₱40,000.00
2 (OE)
ENT
HT
PAID
D
Y GJ-1 ### 38,300
RECEI
3 (IE)
OUT
GAND
CASH
FROM
VE A GJ-1 10,000 28,300
5 (OE)
A.CO
FROM
THE
BOUG
REFU GJ-1 1,200 27,100
10 M
HT(OE)
MAY
LAND
PAID
ND 4 GJ-1 14,308 12,792
13 (OE)
BANK
SALA
MERC
FROM GJ-1 15,876 28,668
15 (FE)
RIES
HANDI
A GJ-1 12,000 40,668
15 (OE)
SE
SUPP
WITH
PARTI
BOUG GJ-1 1,500 39,168
16 (OE)
LIER
DRAW
AL
HT
PAID
REFU GJ-1 14,400 24,768 51,008
17 (OE)
ALS
PAYM
MERC
FREIG
ND GJ-1 500 25,268
20 (FE)
ENT
HANDI
HT
FROM
PAID ON GJ-1 3,008 22,260
24 (OE)
SE
MAY
A
VARIO GJ-1 10,000 12,260
26 (OE)
19
CUST
US GJ-1 12,300 -40
28 (OE)
OMER
EXPE GJ-1 700 -740
30 (OE)
NSES GJ-1 1,900 -2,640
30 (OE) GJ-1 9,400 ###
 RBSG DISTRIBUTORS
CLOSING JOURNAL ENTRIES

(IN PESOS)
DATE DESCRIPTION REF DR CR
MAY 31 SALES (SALES ACCOUNT) 4001 ₱ 48,300.00
SALES DISCOUNTS 4010 ₱ 324.00
SALES RETURN AND ALLOWANCE 4005 ₱ 1,900.00
INCOME SUMMARY ₱ 46,076.00
TO CLOSE THE SALES ACCOUNT

MAY 31 INCOME SUMMARY (EXPENSE) 6001 ₱ 38,508.00

COST OF GOODS SOLD 501 ₱ 26,408.00
ADVERTISING 5003 1,000
FREIGHT OUT 5006 1,200
RENT EXPENSE 5010 4,500
SALARIES 5030 4,000
UTILITIES 5040 1,400
TO CLOSE THE EXPENSE ACCOUNT

MAY 31 MERCHANDISE INVENTORY 1015 29,000

PURCHASE RETURN AND ALLOWANCE 5002 1,800
PURCHASE DISCOUNTS 5003 292
INCOME SUMMARY 6001 ₱ 26,408.00
PURCHASES 5001 ₱ 56,800.00
FREIGHT IN 5004 ₱ 700.00
TO CLOSE THE COST OF GOODS SOLD

MAY 31 INCOME SUMMARY (INCOME) 6001 ₱ 7,568.00

RBSG, CAPITAL 3001 ₱ 7,568.00
TO CLOSE INCOME TO CAPITAL

MAY 31 RBSG,CAPITAL 3001 ₱ 3,008.00

RBSG, DRAWINGS 3002 ₱ 3,008.00
TO CLOSE DRAWING ACCOUNT
31,092

₱ 57,500.00
 POST – CLOSING TRIAL BALANCE
AS OF
(IN PESOS)
REF ACCOUNT TITLE S DEBIT CREDIT
1001 CASH -₱ 12,040.00
1005 ACCOUNTS RECEIVABLE ₱ 32,100.00
1015 MERCHANDISE INVENTORY ₱ 29,000.00
1020 SUPPLIES ₱ 1,700.00
1050 EQUIPMENT ₱ 10,000.00
2001 ACCOUNTS PAYABLE ₱ 4,200
2002 NOTES PAYABLE ₱ 12,000.00
3001 RBSG, CAPITAL ₱ 44,560.00
TOTAL ₱ 60,760.00 ₱ 60,760.00