DATE ACCOUNT TITLE AND EXPLANATION PR DEBIT CREDIT

2018
June 1 Cash 110 75,000.00
JADE, Capital 310 75,000.00
to record intial investment

2 Equipment 150 8500

Cash 110 8500
bought equipment on cash

2 Purchases 510 16000

Accounts Payable 210 16000
bought merchandise on account

3 Supplies 140 1,300.00

Cash 110 1,300.00
bought supplies on cash

4 Account Receivable 120 16000.00

Sales 410 16000.00
sold merchandise on account

5 Transportation Out 550 500

Cash 110 500
Paid Transportation

6 Accounts Payable 210 500

Purchase Return and Allowances 530 500
Received Credit

10 Accounts Payable 210 15500

Cash 110 15190
Purchase Discount 520 310.00
cash and purchases on account

11 Cash 110 15680

Sales Discount 420 320
Accounts Receivable 120 16000
collected cash from sales

12 Purchases 510 15,000.00

Cash 110 15,000.00
Bought merchandise on cash

13 Salaries Expense 570 2500

Cash 110 2500
salaries on Cash
110
14 Cash 220 20000
Notes Payable 20000
Borrowed money from bank

17 Cash 110 1,500.00

Purchase Return and Allowances 530 1,500.00
to record cash from sales

20 Purchases 510 10000.00

Accounts Payable 210 10,000.00
To record purchase on account

21 Transportation In 540 900.00

Cash 110 900.00
to record transportation on cash

22 Cash 110 15000

Sales 410 15000
to record cash on sales

25 Purchases 510 15,000.00

Cash 110 15000
to record purchases on cash

26 Accounts Payable 210 10000.00

Cash 110 9800.00
Purchase Discount 200
to record accounts payable on cash

27 Jade, Drawing 320 2018

Cash 110 2018
to record withdrawal on cash

28 Sales Return and Allowances 430 500

Cash 110 500
to record sales on cash

29 Account Receivable 120 15000

Sales 410 15000
to record sales on account

30 Salaries Expense 570 1000

Utilities Expense 580 600
Rent Expense 560 3500
Advertising Expense 590 2000
Cash 110 7100
To record Expenses on cash
 CASH 110
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 1 to record initial investment GJ-1 75000.00 75000.00
2 to record bought equipment on cash GJ-1 8,500.00 66,500.00
3 to record bought supplies on cash GJ-1 1,300.00 65,200.00
5 to record transportation on cash GJ-1 500.00 64,700.00
10 to record cash and purchases on account GJ-1 15,190.00 49,510.00
11 to record collected cash from sales GJ-1 15,680.00 65,190.00
12 to record bought merchandise on cash GJ-1 15,000.00 50,190.00
13 to record salaries on cash GJ-1 2,500.00 47,690.00
14 to record borrowed money from bank GJ-1 20,000.00 67,690.00
17 to record cash from sales GJ-1 1,500.00 69,190.00
21 to record transportation on cash GJ-1 900.00 68,290.00
22 to record cash on sales GJ-1 15,000.00 83,290.00
25 to record purchases on cash GJ-1 15,000.00 68,290.00
26 to record accounts payable on cash GJ-1 9,800.00 58,490.00
27 to record withdrawal on cash GJ-1 2,018.00 56,472.00
28 to record sales on cash GJ-1 500.00 55,972.00
30 to record expenses on cash GJ-1 7,100.00 48,872.00

48,872.00

ACCOUNTS RECEIVABLE 120

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 4 to record sold merchandise on account GJ-1 16,000.00 16,000.00
11 to record collected cash from sales GJ-1 16,000.00 -
29 to recored sales on account GJ-1 15,000.00 15,000.00

MERCHANDISE INVENTORY 130

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE

SUPPLIES 140
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 3 to record bought supplies on cash GJ-1 1,300.00 1,300.00

1,300.00

EQUIPMENT 150
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
 2018
JUNE 2 to record bought equipment on cash GJ-1 8,500.00 8,500.00

8,500.00

ACCOUNTS PAYABLE 210

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 2 to record bought merchandise on account GJ-1 16,000.00 16,000.00
6 to record a received credit GJ-1 500.00 15,500.00
10 to record cash purchase on account GJ-1 15,500.00 -
20 to record purchase on account GJ-1 10,000.00 10,000.00
26 to record accounts payable on cash GJ-1 10,000.00 10,000.00
-

NOTES PAYABLE 220

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 14 to record borrowed money from bank GJ-1 20,000.00 20,000.00

20,000.00

JADE, CAPITAL 310

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 1 to record initial investment GJ-1 75,000.00 75,000.00

75,000.00

JADE, DRAWING 320

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUN 27 to record withdrawal on cash GJ-1 2,018.00 2,018.00

2,018.00

SALES 410
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 4 to record sold merchandise on account GJ-1 16,000.00 16,000.00
22 to record sales on cash GJ-1 15,000.00 31,000.00
29 to record sales on account GJ-1 15,000.00 46,000.00

46,000.00

SALES DISCOUNT 420

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 11 to record collected cash from sales GJ-1 320.00 320.00

320.00

SALES RETURN AND ALLOWANCES 430

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 28 to record sales on cash GJ-1 500.00 500.00

500.00

PURCHASES 510
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 2 to record bought merchandise on account GJ-1 16,000.00 16,000.00
12 to record bought merchandise on cash GJ-1 15,000.00 31,000.00
20 to record purchases on account GJ-1 10,000.00 41,000.00
25 to record purchases on cash GJ-1 15,000.00 56,000.00

56,000.00

PURCHASE DISCOUNTS 520

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 10 to record cash and purchases on account GJ-1 310.00 310.00
26 to record accounts payable on cash GJ-1 200.00 510.00
510.00

PURCHASE RETURN AND ALLOWANCES 530

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 6 to record a received credit GJ-1 500.00 500.00
17 to record cash from sales GJ-1 1,500.00 2,000.00
2,000.00

TRANSPORTATION IN 540
DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
 2018 21 to record transportation on cash GJ-1 900 900
JUNE

900.00

TRANSPORTATION OUT 550

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 5 to record transportation on cash GJ-1 500.00 500.00

500.00

RENT EXPENSE 560

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 30 to record rent expense 3,500.00 3,500.00

3,500.00

SALARIESE EXPENSE 570

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 13 to record salaries on cash GJ-1 2,500.00 2,500.00
30 to record salaries expense GJ-1 1,000.00 3,500.00
3,500.00

UTILITIES EXPENSE 580

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 30 to record utilities expense GJ-1 600.00 600.00

600.00

ADVERTISING EXPENSE 590

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE 30 to record advertising expense GJ-1 2,000.00 2,000.00

2,000.00

INCOME SUMMARY 601

DATE ACCOUNT TITLE AND EXPLANATION J.R DEBIT CREDIT BALANCE
2018
JUNE
 JADE MERCHANDISING
Trial Balance
June 30, 2016

Account No. Account Title Debit Credit

110 CASH 48,872.00
120 ACCOUNT RECEIVABLE 15,000.00
130 MERCANDISE INVENTORY
140 SUPPLIES 1,300.00
150 EQUIPMENT 8,500.00
210 ACCOUNTS PAYABLE -
220 NOTES PAYABLE 20,000.00
310 JADE, CAPITAL 75,000.00
320 JADE, DRAWING 2,018.00
410 SALES 46,000.00
420 SALES DISCOUNT 320.00
430 SALES RETURN AND ALLOWANCES 500.00
510 PURCHASES 56,000.00
520 PURCHASE DISCOUNTS 510.00
530 PURCHASE RETURN AND ALLOWES 2,000.00
540 TRANSPORTATION IN 900.00
550 TRANSPORTATION OUT 500.00
560 RENT EXPENSE 3,500.00
570 SALARIES EXPENSE 3,500.00
580 UTILITIES EXPENSE 600.00
590 ADVERTISING EXPENSE 2000.00

TOTAL 143,510.00 143,510.00

 JADE Merchandising
Cost of Goods Sold
For the month ended June 30,2018

Merchadise Inventory, June 1 -

Purchases ₱ 56,000.00
Less: Purchase Discounts 510.00
Purchase Returns and Allowances 2,000.00
Transportation-In 900.00
Less: Merchandise Invetory Ending 25,000.00
Cost of Good Sold ₱ 29,390.00
 JADE Merchandising
Statement of Performance
For the month ended June 30, 2018

Sales ₱ 46,000.00
Less: Sales Discount ₱ 320.00
Sales Returns and Allowances 500.00 820.00
Net Sales 45,180.00
less: Cost of Good Sold 29,390.00
Gross Profit 15,790.00
Less: Operating Expenses
Transportation-Out 500.00
Rent Expenses 3,500.00
Salaries Expense 3,500.00
Utilities Expense 600.00
Advertising Expense 2,000.00 10,100.00
Net Income ₱ 5,690.00
 JADE Merhchandising
Statement of Changes in Equity
For the month ended June 30, 2018

JADE Capital, June 1

Add: Investment ₱ 75,000.00
Add: Net Income ₱ 5,690.00
Less: JADE Drawing 2,018.00
Increase in Capital 3,672.00
JADE Capital, June 30 ₱ 78,672.00
 JADE MERCHANDISING
Statement of Financial Position
For the month ended June 30, 2018

ASSETS
Current Assets
Cash 48,872.00
Accounts Recievable 15,000.00
Merchandise Inventory 25,000.00
Supplies 1,300.00
Total Current Assets 90,172.00

Non Current Assets

Equipment 8,500.00

Total Assets ₱ 98,672.00

LIABILITIES
Current Liabilities
Accounts Payable -

Non Current Liabilities

Notes Payable 20,000.00

Total Liabilities 20,000.00

OWNER'S EQUITY
JADE, Capital 78,672.00

Total Liabilities and Equity ₱ 98,672.00

 Statement of Cash Flow
For the month ended June 30, 2018

Cash Flow from Operating Activities

Cash Received from:
Receivable Collection ₱ 14,700.00
Refund 1,000.00
Sales 15,000.00
Payment for:
Supplies Bought -1,000.00
Transportation on Sold Goods -500.00
Goods Bought -55,970.00
Operating Expenses -8,600.00
Transportation on Goods Bought -900.00
Refund to Customer -500.00
Total Cash Flow from Operating Services -₱ 36,770.00

Cash Flow from Investing Activities

Equipment Bought -₱ 9,000.00

Cash Flow from Financing Activities

Initial Investment ₱ 50,000.00
Borrowing 22,000.00
Drawing -2018
Total Cash Flow from Financing Activties ₱ 69,982.00

Increase in Cash and Cash Equivalents ₱ 24,212.00

Add: Cash and Cash Equivalents, June 1
Cash and cash Equivalents, June 30 ₱ 24,212.00