PR ACCOUNT TITLES PR

101 Cash 401

105 Accounts Receivable 402
115 Merchandise Inventory 403
120 Supplies 501
150 Equipment 502
151 Accumulated Depreciation - Equipment 503
201 Accounts Payable 504
202 Notes Payable 506
301 A. Dela Cruz, Capital 510
302 A. Dela Cruz, Drawings 520
530
540
600

1 - Assets
2 - Liabilities
3 - Equity
4 - Revenue
5 - Expenses
 ACCOUNT TITLES
Sales
Sales Returns and Allowances *FOB Shipping Point - BUYER
Sales Discounts *FOB Destination - SELLER
Purchases
Purchase Returns and Allowances
Purchase Discounts
Freight In
Freight Out
Rent Expense
Depreciation Expense - Equipment
Salaries Expense
Supplies Expense
Income Summary
 ALPHA MERCHANDISING
GJ-1
DATE
2023
JAN 1

7
10

12

14

15

16

17

18

19
20

24

25

26

28

29

30
 ALPHA MERCHANDISING

PARTICULARS PR

Cash 101
A. Dela Cruz, Capital 301
To record initial investment

Purchases 501
Accounts Payable 201
To record purchased merchandise on account from AZ Suppliers - 2/10, n/30

Freight In 504
Cash 101
Freight charges

Supplies 120
Cash 101
Purchased supplies on cash

Accounts Receivable 105

Sales 401
To recognize sales on account to Ken Co., - 2/10, n/30

Freight Out 506

Cash 101
Freight charge

Accounts Payabale 201

Purchase Returns and Allowances 502
To record return merchandise from AZ Suppliers

Cash 101
 Notes Payable 202
To record borrowed money from XYZ Bank

Equipment 150
Accounts Payable 201
To record purchased store equipment - 2/10, n/30

Accounts Payable 201

Purchase Discount 503
Cash 101
To record payment in full

Cash 101
Sales Discount 403
Accounts Receivable 105
To record collection from Ken Co., in full

Purchases 501
Cash 101
To record purchase merchandise

A. Dela Cruz, Drawings 302

Cash 101
To record withdrawal for personal use

Cash 101
Purchase Returns and Allowances 502
To record refund from supplier

Purchases 501
Accounts Payable 201
To record purchase from XY Distributor - 2/10, n/30

Freight In 504
 Cash 101
To record freight charge

Accounts Payable 101

Cash 540
To record paymentfor equipment bought

Cash 101
Sales 401
To record sold merchandise

Freight Out 506

Cash 101
To record freight charge

Purchases 501
Accounts Payable 201
To record purchase from Optimus Suppliers - 2/10, n30

Sales Return and Allowances 402

Cash 101
To record refund to cash customers

Accounts Payable 201

Purchase Discounts 503
Cash 101
To record payment in full to XY Distributor

Salary Expense 530

Rent Expense 510
Cash 101
Payment for salary and rent

Accounts Receivable 105

Sales 401
To record sold merchandise on accountto Quest Ent.,
 DEBIT CREDIT

₱ 58,000
₱ 58,000

15,500
15,500

400
400

1,500
1,500

14,300
14,300

200
200

500
500

15,000
 15,000

12,000
12,000

15,000
300
14,700

14,014
286
14,300

3,700
3,700

5,000
5,000

330
330

9,500
9,500

150
 150

6,000
6,000

15,400
15,400

250
250

4,800
4,800

204
204

9,500
190
9,310

3,500
4,000
7,500

12,500
12,500
 ASSETS
Account No. 150 Account Title: CASH

DATE PR DEBIT CREDIT

JAN 1 GJ-1 ₱ 58,000
2 GJ-1 ₱ 400
3 GJ-1 1,500
4 GJ-1 200
7 GJ-1 15,000
12 GJ-1 14,700
14 GJ-1 14,014
15 GJ-1 3,700
16 GJ-1 5,000
17 GJ-1 330
19 GJ-1 150
20 GJ-1 6,000
24 GJ-1 15,400
GJ-1 250
26 GJ-1 204
28 GJ-1 9,310
29 GJ-1 7,500

ASSETS
Account No. 105 Account Title: ACCOUNTS RECEIV

DATE PR DEBIT CREDIT

JAN 4 GJ-1 ₱ 14,300
14 GJ-1 ₱ 14,300
30 GJ-1 12,500

ASSETS
Account No. 115 Account Title: MERCHANDISE INV

DATE PR DEBIT CREDIT

Jan 31 CLOSING GJ-1 ₱ 5,305
Title: CASH
RUNNING BALANCE
DEBIT CREDIT
₱ 58,000 F-initial investment
57,600 O-freight on purchases
56,100 O-office supplies
55,900 O-freight on goods sold
70,900 F-borrowings
56,200 O-goods bought
70,214 O-receivable collection
66,514 O-goods bought
61,514 F-drawings
61,844 O-refund from purchases
61,694 O-freight on purchase
55,694 I-equipment bought
71,094 O-sales
70,844 O-freight on goods sold
70,640 O-refund to customers
61,330 O-goods bought
₱ 53,830 O-operating expenses

Title: ACCOUNTS RECEIVABLE

RUNNING BALANCE
DEBIT CREDIT
₱ 14,300
-
₱ 12,500
Title: MERCHANDISE INVENTORY
RUNNING BALANCE
DEBIT CREDIT
₱ 5,305
 ASSETS
Account No. 120 Account Title: SUPPLIES

DATE PR DEBIT CREDIT

JAN 3 GJ-1 ₱ 1,500
31 GJ-1 700

ASSETS
Account No. 150 Account Title: EQUIPMENT

DATE PR DEBIT CREDIT

JAN 10 GJ-1 ₱ 12,000

ASSETS
Account No. 151 Account Title: ACCUMULATED DEPRECIATION

DATE PR DEBIT CREDIT

JAN 31 GJ-1 ₱ 200.00
Title: SUPPLIES
RUNNING BALANCE
DEBIT CREDIT
₱ 1,500
₱ 800

Title: EQUIPMENT
RUNNING BALANCE
DEBIT CREDIT
₱ 12,000

itle: ACCUMULATED DEPRECIATION - EXPENSE

RUNNING BALANCE
DEBIT CREDIT
₱ 200.00
 LIABILITIES
Account No. 201 Account Title: ACCOUNTS PAYABLE

DATE PR DEBIT CREDIT

JAN 2 GJ-1 ₱ 15,500
5 GJ-1 ₱ 500
10 GJ-1 12,000
12 GJ-1 15,000
18 GJ-1 9,500
20 GJ-1 6,000
25 GJ-1 4,800
28 GJ-1 9,500

LIABILITIES
Account No. 202 Account Title: NOTES PAYABLE

DATE PR DEBIT CREDIT

JAN 7 GJ-1 ₱ 15,000
Title: ACCOUNTS PAYABLE
RUNNING BALANCE
DEBIT CREDIT
₱ 15,500
15,000
27,000
12,000
21,500
15,500
20,300
₱ 10,800

Title: NOTES PAYABLE

RUNNING BALANCE
DEBIT CREDIT
₱ 15,000
 EQUITY
Account No. 301 Account Title: A. DELA CRUZ, CAPI

DATE PR DEBIT CREDIT

JAN 2 GJ-1 ₱ 58,000
31 CLOSING ₱ 5,435
31 CLOSING ₱ 5,000

EQUITY
Account No. 302 Account Title: A. DELA CRUZ, DRAW

DATE PR DEBIT CREDIT

JAN 16 GJ-1 ₱ 5,000
31 CLOSING ₱ 5,000
Title: A. DELA CRUZ, CAPITAL
RUNNING BALANCE
DEBIT CREDIT
₱ 58,000
₱ 63,435
₱ 58,435

Title: A. DELA CRUZ, DRAWINGS

RUNNING BALANCE
DEBIT CREDIT
₱ 5,000
₱ -
 REVENUE
Account No. 401 Account Title: SALES

DATE ITEM PR DEBIT CREDIT

JAN 4 GJ-1 ₱ 14,300
24 GJ-1 15,400
30 GJ-1 12,500
31 CLOSING GJ-1 ₱ 42,200

REVENUE
Account No. 402 Account Title: SALES RETURN AN

DATE ITEM PR DEBIT CREDIT

JAN 26 GJ-1 ₱ 204
31 CLOSING GJ-1 ₱ 204

REVENUE
Account No. 403 Account Title: SALES DISCOUNT

DATE PR DEBIT CREDIT

JAN 14 GJ-1 ₱ 286
31 CLOSING GJ-1 ₱ 286
Title: SALES
RUNNING BALANCE
DEBIT CREDIT
₱ 14,300
29,700
₱ 42,200
₱ -

Title: SALES RETURN AND ALLOWANCES

RUNNING BALANCE
DEBIT CREDIT
₱ 204
₱ -

Title: SALES DISCOUNT

RUNNING BALANCE
DEBIT CREDIT
₱ 286
₱ -
 EXPENSES
Account No. 501 Account Title: PURCHASES

DATE PR DEBIT CREDIT

JAN 2 GJ-1 ₱ 15,500
15 GJ-1 3,700
18 GJ-1 9,500
25 GJ-1 4,800
31 CLOSING ₱ 33,500

EXPENSES
Account No. 502 Account Title: PURCHASE RETURNS A

DATE PR DEBIT CREDIT

JAN 5 GJ-1 ₱ 500
17 GJ-1 330
31 CLOSING GJ-1 ₱ 830

EXPENSES
Account No. 503 Account Title: PURCHASE DISCOUN

DATE PR DEBIT CREDIT

JAN 12 GJ-1 ₱ 300
28 GJ-1 190
31 CLOSING GJ-1 ₱ 490
Title: PURCHASES
RUNNING BALANCE
DEBIT CREDIT
₱ 15,500
19,200
28,700
₱ 33,500
₱ -

Title: PURCHASE RETURNS AND ALLOWANCES

RUNNING BALANCE
DEBIT CREDIT
₱ 500
₱ 830
₱ -

Title: PURCHASE DISCOUNT

RUNNING BALANCE
DEBIT CREDIT
₱ 300
₱ 490
₱ -
 EXPENSES
Account No. 504 Account Title: FREIGHT IN

DATE PR DEBIT CREDIT

JAN 2 GJ-1 ₱ 400
19 GJ-1 150
31 CLOSING ₱ 550

EXPENSES
Account No. 506 Account Title: FREIGHT OUT

DATE PR DEBIT CREDIT

JAN 4 GJ-1 ₱ 200
24 GJ-1 250
31 CLOSING GJ-1 ₱ 450
Title: FREIGHT IN
RUNNING BALANCE
DEBIT CREDIT
₱ 400
₱ 550
₱ -

Title: FREIGHT OUT

RUNNING BALANCE
DEBIT CREDIT
₱ 200
₱ 450
₱ -
 DATE PARTICULARS PR DEBIT
2023
Jan 31 Sales 401 ₱ 42,200
Sales Returns and Allowances 402
Sales Discounts 403
Income Summary 600
To close revenue accounts

31 Purchase Returns and Allowances 502 830

Purchase Discounts 503 490
Merchandise Inventory 115 5,305
Income Summary 600 27,425
Purchases 501
Freight In 504
To close Cost of Goods Sold

31 Income Summary 600 8,850

Freight Out 506
Rent Expense 510
Depreciation Expense - Equipment 520
Supplies Expense 540
Salaries Expense 530
To close Operating Expense

31 Income Summary 600 5,435

A. Dela Cruz, Capital 301
To close Net Income

31 A. Dela ruz, Capital 301 5,000

A. Dela Cruz, Drawings 302
To close Withdrawal
 CREDIT

₱ 204
286
41,710

33,500
550

450
4,000
200
700
3,500

5,435

5,000
 EXPENSES
Account No. 510 Account Title: RENT EXPENSE

DATE PR DEBIT CREDIT

JAN 29 GJ-1 ₱ 4,000
31 CLOSING ₱ 4,000

EXPENSES
Account No. 520 Account Title: DEPRECIATION EXPENSE - E

DATE PR DEBIT CREDIT

JAN GJ-1 ₱ 200
31 CLOSING ₱ 200

EXPENSES
Account No. 530 Account Title: SALARIES EXPENSE

DATE PR DEBIT CREDIT

JAN 29 GJ-1 ₱ 3,500
31 CLOSING ₱ 3,500

EXPENSES
Account No. 540 Account Title: SUPPLIES EXPENSE

DATE PR DEBIT CREDIT

JAN 31 GJ-1 ₱ 700
31 CLOSING ₱ 700

Account No. 600 Account Title: INCOME SUMMARY

 DATE PR DEBIT CREDIT
JAN 31 CLOSING GJ-1 ₱ 41,710
₱ 27,425
₱ 8,850
₱ 5,435
Title: RENT EXPENSE
RUNNING BALANCE
DEBIT CREDIT
₱ 4,000
₱ -

itle: DEPRECIATION EXPENSE - EQUIPMENT

RUNNING BALANCE
DEBIT CREDIT
₱ 200
₱ -

Title: SALARIES EXPENSE

RUNNING BALANCE
DEBIT CREDIT
₱ 3,500
₱ -

Title: SUPPLIES EXPENSE

RUNNING BALANCE
DEBIT CREDIT
₱ 700
₱ -

Title: INCOME SUMMARY

RUNNING BALANCE
DEBIT CREDIT
₱ 41,710
 ALPHA MERCHANDISING
UNADJUSTED TRIAL BALANCE
January 31, 2023

PR ACCOUNT TITLE DEBIT CREDIT

101 Cash ₱ 53,830
105 Accounts Receivable 12,500
120 Supplies 1,500
150 Equipment 12,000
201 Accounts Payable ₱ 10,800
202 Notes Payable 15,000
301 A. Dela Cruz, Capital 58,000
302 A. Dela Cruz, Drawings 5,000
401 Sales 42,200
402 Sales Returns and Allowances 204
403 Sales Discounts 286
501 Purchases 33,500
502 Purchase Returns and Allowances 830
503 Purchase Discounts 490
504 Freight In 550
506 Freight Out 450
510 Rent Expense 4,000
530 Salaries Expense 3,500
TOTAL ₱ 127,320 ₱ 127,320
 ALPHA MERCHANDISING
ADJUSTED TRIAL BALANCE
January 31, 2023

PR ACCOUNT TITLE DEBIT CREDIT

101 Cash ₱ 53,830
105 Accounts Receivable 12,500
120 Supplies 800
150 Equipment 12,000
151 Accumulated Depreciation - Equipment 200
201 Accounts Payable 10,800
202 Notes Payable 15,000
301 A. Dela Cruz, Capital 58,000
302 A. Dela Cruz, Drawings 5,000
401 Sales 42,200
402 Sales Returns and Allowances 204
403 Sales Discounts 286
501 Purchases 33,500
502 Purchase Returns and Allowances 830
503 Purchase Discounts 490
504 Freight In 550
506 Freight Out 450
510 Rent Expense 4,000
520 Depreciation Expense - Equipment 200
530 Salaries Expense 3,500
540 Supplies Expense 700
TOTAL ₱ 127,520 ₱ 127,520
,
 ALPHA MERCHANDISING
COST OF GOODS SOLD
For the month ended January 31, 2023

Merchandise Inventory, beginning ₱ -

Purchases 33,500
Total ₱ 33,500
Less: Purchase Returns and Allowances ₱ 830
Purchase Discount 490 1,320
Net Purchases ₱ 32,180
Add: Freight In 550
Total Cost of Goods Available for Sale ₱ 32,730
Less: Merchandise Inventory, end 5,305
COST OF GOODS SOLD ₱ 27,425
 ALPHA MERCHANDISING
STATEMENT OF PERFORMANCE
For the month ended January 31, 2023

Sales ₱ 42,200
Less: Sales Returns and Allowances ₱ 204
Sales Discount 286 ₱ 490
Net Sales 41,710
Less: Cost of Goods Sold 27,425
Gross Profit ₱ 14,285
Less: Operating Expenses
Freight Out 450
Rent 4,000
Depreciation 200
Supplies 700
Salaries 3,500 8,850
NET INCOME ₱ 5,435
 ALPHA MERCHANDISING
STATEMENT OF EQUITY
For the month ended January 31, 2023

A. Dela Cruz Capital, beginning ₱ -

Add: Initial Investment 58,000
Less: A. Dela Cruz, Drawings ₱ 5,000
Total ₱ 53,000
Add: Profit 5,435
A. DELA CRUZ, CAPITAL, ENDING ₱ 58,435
 ALPHA MERCHANDISING
STATEMENT OF FINANCIAL POSITION
For the month ended January 31, 2023

ASSETS
Current Assets
Cash ₱ 53,830
Accounts Receivable 12,500
Merchandise Inventory 5,305
Supplies 800 72,435
Non-Current Assets
Equipment 12,000
Less: Accumulated Depreciation 200 ₱ 11,800
TOTAL ASSETS 84,235

LIABILITIES AND OWNER'S EQUITY

Liabilities
Current Liabilities
Accounts Payable 10,800
Non-Current Liabilities
Notes Payable 15,000
TOTAL LIABILITIES 25,800

Equity
A. Dela Cruz, Capital 58,435

TOTAL LIABILITIES AND OWNER'S EQUITY 84,235

 ALPHA MERCHANDISING
STATEMENT OF CASH FLOWS
For the month ended January 31, 2023

Cash Flow from Operating Activities

Cash Received from:
Sales ₱ 15,400.00
Receivable Collection 14,014
Refund from Purchases 330 ₱ 29,744
Payment for:
Office Supplies -1,500
Freight on Goods Sold - freight out -450
Goods Bought - purchases -27,710
Operating Expenses -7500
Refund to Customers - SRA -204
Freight on Purchases -550 - 37,914
Net Cash Flow from Operating Activities -₱ 8,170

Cash Flow from Investing Activities

Equipment bought - 6,000

Cash Flow from Financing Acitivities

Initial Investment 58,000
Borrowings 15,000
Drawings - 5,000
Net Cash Flow from Financing Activities ₱ 68,000

Increase in Cash and Cash Equivalents, beginning ₱ 53,830

Add: Cash and Cash Equivalents, beginning -
CASH AND CASH EQUIVALENTS, ENDING ₱ 53,830
 ALPHA MERCHANDISING
POST CLOSING TRIAL BALANCE
January 31, 2023

101 Cash ₱ 53,830

105 Accounts Receivable 12,500
115 Merchandise Inventory 5,305
120 Supplies 800
150 Equipment 12,000
151 Accumulated Depreciation - Equipment ₱ 200
201 Accounts Payable 10,800
202 Notes Payable 15,000
301 A. Dela Cruz, Capital 58,435
TOTAL ₱ 84,435 ₱ 84,435