OUTPUT 1:

Bank Reconciliation Statement of Villain Corp.

For the year end 2020

Balance Per Bank Statement P 762,000

Add: Deposit in transit 130,000
Less: Outstanding Checks (41,000)
Bank Error (3,000)
Adjusted Balance P 848,000

Balance Per Book P 900, 000

Add: Collected Note 68, 000
Book Error (18K – 14K) 4,000
Less: Service Charge (110, 0000)
Notes Payable (14,000)
Adjusted Balance P 848,000

OUTPUT 2:
Accounts Receivable P 100,000
Sales P 100,000

Cash P 390,000
Accounts Receivable 200,000
Sales P 590,000

Cash P 190,000
Accounts Receivable P 190,000

Bad Debts P 22,000

Accounts Receivable P 22,000

OUTPUT 3:

Sales 400,000
Sales Return (2,000)
Sales Discount (24,00)
NET SALES REVENUE P 374,000

Beginning Inventory 180,000

Net Purchases 180,000
Cost of goods available for sale 1,065,000
Ending Inventories (260,000)
COST OF GOOD SOLD P 360,000
 Gross Purchases 200,000
Freight-in 60,000
Total cost of purchases 260,000
Purchase Returns (80,000)
NET PURCHASES P 180,000

Salaries Expense 18,000

Rent Expense 15,000
TOTAL EXPENSES P 33,000

OUTPUT 4:
1. Equipment
1,000,000 - 400,000 = P 60,000
10

ACCUMULATED CARRYING
YEAR COMPUTATION DEPRECIATION
DEPRECIATION VALUE
1,000,000
2020 (1M-400K)/10 60,000 60,000 940,000
2021 (1M-400K)/10 60,000 120,000 880,000
2022 (1M-400K)/10 60,000 180,000 820,000
2023 (1M-400K)/10 60,000 240,000 760,000
2024 (1M-400K)/10 60,000 300,000 700,000
2025 (1M-400K)/10 60,000 360,000 640,000
2026 (1M-400K)/10 60,000 420,000 580,000
2027 (1M-400K)/10 60,000 480,000 520,000
2028 (1M-400K)/10 60,000 540,000 460,000
2029 (1M-400K)/10 60,000 600,000 400,000

2. Furniture
200,000 - 0 = P 50,000
4

ACCUMULATED CARRYING
YEAR COMPUTATION DEPRECIATION
DEPRECIATION VALUE
200,000
2020 (200K-0)/4 50,000 50,000 150,000
2021 (200K-0)/4 50,000 100,000 100,000
2022 (200K-0)/4 50,000 150,000 50,000
2023 (200K-0)/4 50,000 200,000 0
3. Building
3,000,000 – 600,000 = P 120,000
20

ACCUMULATED CARRYING
YEAR COMPUTATION DEPRECIATION
DEPRECIATION VALUE
3,000,000
2020 (3M-600K)/20 120,000 120,000 2,880,000
2021 (3M-600K)/20 120,000 240,000 2,760,000
2022 (3M-600K)/20 120,000 360,000 2,640,000
2023 (3M-600K)/20 120,000 480,000 2,520,000
2024 (3M-600K)/20 120,000 600,000 2,400,000
2025 (3M-600K)/20 120,000 720,000 2,280,000
2026 (3M-600K)/20 120,000 840,000 2,160,000
2027 (3M-600K)/20 120,000 960,000 2,040,000
2028 (3M-600K)/20 120,000 1,080,000 1,920,000
2029 (3M-600K)/20 120,000 1,200,000 1,800,000
2030 (3M-600K)/20 120,000 1,320,000 1,680,000
2031 (3M-600K)/20 120,000 1,440,000 1,560,000
2032 (3M-600K)/20 120,000 1,560,000 1,440,000
2033 (3M-600K)/20 120,000 1,680,000 1,320,000
2034 (3M-600K)/20 120,000 1,800,000 1,200,000
2035 (3M-600K)/20 120,000 1,920,000 1,080,000
2036 (3M-600K)/20 120,000 2,040,000 960,000
2037 (3M-600K)/20 120,000 2,160,000 840,000
2038 (3M-600K)/20 120,000 2,280,000 720,000
2039 (3M-600K)/20 120,000 2,400,000 600,000

4. Machinery
400,000 – 80,000 = P 64,000
5

ACCUMULATED CARRYING
YEAR COMPUTATION DEPRECIATION
DEPRECIATION VALUE
400,000
2020 (400K-80K)/5 64,000 64,000 336,000
2021 (400K-80K)/5 64,000 160,000 272,000
2022 (400K-80K)/5 64,000 224,000 208,000
2023 (400K-80K)/5 64,000 288,000 144,000
2024 (400K-80K)/5 64,000 352,000 80,000