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Checked Competentperpetual RBSG Distributors
Checked Competentperpetual RBSG Distributors
Checked Competentperpetual RBSG Distributors
₱ 265,808.00 265808
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 CASH FROM
BORROWED MONEY 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 (OE) GJ-1 14,400 24,768
1 17 RECEIVE A REFUND FROM A SUPPLIER (OE) GJ-1 500 25,268
20 WITHDRAWALS (FE) GJ-1 3,008 22,260
1 22 SOLD MERCHANDISE (OE) GJ-1 17,400 39,660
1 24 PARTIAL PAYMENT (OE) GJ-1 10,000 29,660
1 26 BOUGHT MERCHANDISE (OE) GJ-1 12,300 17,360
1 28 PAID FREIGHT ON MAY 19 (OE) GJ-1 700 16,660
1 30 REFUND FROM A CUSTOMER (OE) GJ-1 1,900 14,760
1 30 PAID VARIOUS EXPENSES (OE) GJ-1 9,400 ₱ 5,360.00
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
29 SOLD MERCHANDISE ON ACCOUNT GJ-1 14,700 ₱ 14,700.00
PAGE NUMBER
Account 1015 MERCHANDISE INVENTORY
Date Item Post Debit Credit Balance
Debit Credit
MAY 3 BOUGHT MERCHANDISE ON ACCOUNT GJ-1 ₱ 15,900.00 ₱ 15,900.00
4 SOLD MERCHANDISE
RECEIVED ON ACCOUNT
CREDIT FROM THE MERCHANDISE GJ-1 ₱ 13,200.00 2,700
6 RETURNED GJ-1 1,300 1,400
10 PAID GANDA.COM GJ-1 292 1,108
16 BOUGHT MERCHANDISE GJ-1 14,400 15,508
17 RECEIVE A REFUND FROM A SUPPLIER GJ-1 500 15,008
19 BOUGHT MERCHANDISE GJ-1 14,200 29,208
22 SOLD MERCHANDISE GJ-1 11,500 17,708
26 BOUGHT MERCHANDISE GJ-1 12,300 30,008
28 PAID FREIGHT ON MAY 19 GJ-1 700 30,708
29 SOLD MERCHANDISE ON ACCOUNT GJ-1 12,000 ₱ 18,708.00
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
MERCHANDISE GJ-1 ₱ 15,900.00 ₱ 15,900.00
6 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
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 -₱ 2,724.00 ₱ 37,276.00
MAY 31 TO CLOSE DRAWING ACCOUNT ₱ 3,008.00 ₱ 34,268.00
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 COST OF GOODS SOLD
Date Item Post Debit Credit Balance
Debit Credit
MAY 4 SOLD MERCHANDISE ON ACCOUNT GJ-1 ₱ 13,200.00 ₱ 13,200.00
22 SOLD MERCHANDISE GJ-1 11,500 24,700
29 SOLD MERCHANDISE ON ACCOUNT GJ-1 12,000 ₱ 36,700.00
MAY 31 TO CLOSE THE EXPENSE ACCOUNT ₱ 36,700.00 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
MAY 31 TO CLOSE THE EXPENE ACCOUNT ₱ 1,000.00 0
PAGE NUMBER
Account 5006 FREIGHT OUT
Date Item Post Debit Credit Balance
Debit Credit
MAY 5 PAID FREIGHT OUT GJ-1 ₱ 1,200.00 ₱ 1,200.00
MAY 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 ₱ 48,800.00 ₱ 48,800.00
MAY 31 TO CLOSE THE SALES ACCOUNT ₱ 46,076.00 2,724
MAY 31 TO CLOSE INCOME TO CAPITAL -₱ 2,724.00 0
RBSG DISTRIBUTORS
PRELIMINARY TRIAL BALANCE
Month Date, Year
REF ACCOUNT TITLES DEBIT
1001 CASH ₱ 5,360.00
1005 ACCOUNTS RECEIVABLE ₱ 14,700.00
1015 MERCHANDISE INVENTORY ₱ 18,708.00
1020 SUPPLIES ₱ 1,700.00
1050 EQUIPMENT ₱ 10,000.00
2001 ACCOUNTS PAYABLE
2002 NOTES PAYABLE
3001 RBSG, CAPITAL
3002 RBSG, DRAWINGS ₱ 3,008.00
4001 SALES
4005 SALES RETURNS & ALLOWANCES ₱ 1,900.00
4010 SALES DISCOUNTS ₱ 324.00
5001 COST OF GOODS SOLD ₱ 36,700.00
5003 ADVERTISING 1,000
5006 FREIGHT OUT 1,200
5010 RENT EXPENSE 4,500
5030 SALARIES 4,000
5040 UTILITIES 1,400
TOTAL ₱ 104,500.00
CREDIT
₱ 4,200
₱ 12,000.00
₱ 40,000.00
₱ 48,300.00
₱ 104,500.00
RBSG DISTRIBUTORS
Statement of Performance
For the month ended MAY 31 20xx
SALES ₱ 48,300.00
LESS: SALES RETURN AND ALLOWANCES ₱ 1,900.00
SALES DISCOUNTS ₱ 324.00 -₱ 2,224.00
NET SALES ₱ 46,076.00
LESS: COST OF GOODS SOLD -₱ 36,700.00
GROSS PROFIT ₱ 9,376.00
LESS: EXPENSES
ADVERTISING 1,000
FREIGHT OUT 1,200
RENT EXPENSE 4,500
SALARIES 4,000
UTILITIES 1,400 -12,100
NET LOSS: -₱ 2,724.00
RBSG DISTRIBUTORS
Statement of Changes in Equity
For the month ended
RBSG CAPITAL, BEGINNING ₱ 40,000.00
LESS: NET LOSS -₱ 2,724.00
TOTAL ₱ 37,276.00
LESS: RBSB, DRAWINGS -₱ 3,008.00
RBSB CAPITAL, MAY 31, 2021 ₱ 34,268.00
RBSG DISTRIBUTORS
Statement of Financial Position
As of
REF ACCOUNT TITLES
ASSETS
CURRENT ASSETS
1001 CASH & CASH EQUIVALENTS ₱ 5,360.00
1005 RECEIVABLE ₱ 14,700.00
1015 INVENTORIES ₱ 18,708.00
1020 PREPAID EXPENSES ₱ 1,700.00
TOTAL CURRENT ASSETS ₱ 40,468.00
NON-CURRENT ASSETS
1050 PROPERTY PLANT & EQUIPMENT ₱ 10,000.00
TOTAL NON-CURRENT ASSETS ₱ 10,000.00
TOTAL ASSETS ₱ 50,468.00
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 ₱ 34,268.00
TOTAL LIABILITIES AND OWNER'S EQUITY ₱ 50,468.00
RBSG DISTRIBUTORS
Statement of Cash Flow
As of MAY 31 20xx
(IN PESOS)
CASH FLOW FROM OPERATING ACTIVITIES
INFLOW/CASH RECEIVED FROM
RECEIVABLE COLLECTION ₱ 15,876.00
RECEIVED REFUND - SUPPLIER 500 1 INITIAL INVESTMENT (FE) GJ-1 ₱ 40,000.00 ₱ 40,000.00
SALES 17,400 2 BOUGHT OFFICE SUPPLIES (OE) GJ-1 -₱ 1,70038,300
TOTAL 33,776 3 BOUGHT COMPUTER EQIPMENT (IE)GJ-1 -10,000 28,300
OUTFLOW/PAYMENT FOR 5 PAID FREIGHT OUT (OE) GJ-1 -1,200 27,100
PAYMENT FOR SUPPLIES -₱ 1,700.00 10 PAID GANDA.COM (OE) GJ-1 -14,308 12,792
PAYMENT FOR FREIGHT OUT -1,200 13 COLLECTED CASH FROM MAY 4 (OE)GJ-1 15,876 28,668
PAYMENT FOR MERCHANDISE INVENTORY (May10,16,24,26) 51,008 15 BORROWED MONEY FROM THE LAND GJ-1 12,000 40,668
PAYMENT FOR SALARIES -1,500 15 PAID SALARIES (OE) GJ-1 -1,500 39,168
PAYMENT FOR FREIGHT ON - PURCHASE -700
REFUND BY THE CUSTOMER -1,900 16 BOUGHT MERCHANDISE (OE) GJ-1 -14,400 24,768
PAYMENT FOR VARIOUS EXPENSES -9,400 17 RECEIVE A REFUND FROM A SUPPLIGJ-1 500 25,268
TOTAL ₱ 67,048.00
NET CASH FLOW FROM OPERATING ACTIVITIES -₱ 33,632.00 20 WITHDRAWALS (FE) GJ-1 -3,008 22,260
22 SOLD MERCHANDISE (OE) GJ-1 17,400 39,660
CASH FLOW FROM INVESTING ACTIVITIES 24 PARTIAL PAYMENT (OE) GJ-1 -10,000 29,660
PURCHASE OF EQUIPMENT -10,000 26 BOUGHT MERCHANDISE (OE) GJ-1 -12,300 17,360
NET CASH FLOW FROM INVESTING ACTIVIES -10,000 28 PAID FREIGHT ON MAY 19 (OE) GJ-1 -700 16,660
30 REFUND FROM A CUSTOMER (OE) GJ-1 -1,900 14,760
CASH FLOW FROM FINANCING ACTIVITIES 30 PAID VARIOUS EXPENSES (OE) GJ-1 -9,400 ₱ 5,360.00
INVESTMENT OF THE OWNER ₱ 40,000.00
CASH WITHRAWALS -3,008
LOAN FROM THE BANK 12,000
NETN CASH FLOW FROM FINANCING ACTIVITIES ₱ 48,992.00
(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 6001 ₱ 46,076.00
TO CLOSE THE SALES ACCOUNT