Date Transaction Debit Credit

Jan 30 Cash 5 0 00 0 0
Equipment 1 0 00 0 0
Supplies 2 00 0 0
Capital 6 2 0 0 0 0
Notes: MM receives P500,000 cash,
P100,000 worth of office equipment,
and P20,000 worth of office supplies
from its owner Chloe Santos.

Feb 28 Land and Building 3 0 00 0 0

Loan Payable 3 0 0 0 0 0
Notes: Purchase a land and building
costing P300,000 in exchange for loan.

Mar 1 Merchandise inventory 4 0 00 0 0

Deliver Expenses 50 0 0
Capital 3 9 5 0 0 0
Notes: Bought its first merchandise inventory
worth P400,000 and paid delivery charges of
P5,000 on cash basis.

Apr 5 Account receivable 5 00 0 0

Sales 5 0 0 0 0
Notes: Sold merchandise to David Co worth
P50.000 payable on account. Cost of inventory
50% of sales.

Apr 15 Cash 4 50 0 0
Sales 4 5 0 0 0
Notes: Sold 10 units of inventory at P9,000 each
in cash and half were paid through notes. Cost
of inventory is 50% of sales.

May 1 Prepaid expenses 3 00 0 0

Cash 3 0 0 0 0
Notes: Merchandise Market paid P30,000 cash
for a 24-month insurance policy.

May 5 Cash 5 00 0 0
Accounts receivable 5 0 0 0 0
Notes:Received the whole payment from David
Co.
Jun 30 Merchandise Inventory 4 00 0 0
Accounts Payable 4 0 0 0 0
Notes: Bought inventory on account from
Suppliers Depot costing P40,000, term 5/10,
n/30.

Jul 9 Accounts Payable 4 00 0 0

Cash 4 0 0 0 0
Notes: Paid Supplies Depot in full.

Jul 20 Notes Receivable 90 0 0

Account receivable 9 0 0 0
Notes: Received the payment from Rhian Lee
for the notes.

Aug 1 Salaries Expenses 5 00 0 0

Cash 5 0 0 0 0
Notes: Merchandise Market paid its 5 store
employees P10,000 each.

Aug 6 Merchandise Inventory 2 00 0 0

Delivery expenses 50 0
Accounts Payable 2 0 0 0 0
Capital 2 0 5 0 0

Notes:Bought inventory from supplier Depot worth

P20,000, paid P10,000 cash and the balance is
paid on account. Additionally, paid P500 freight
charges.

Aug 15 Accounts receivable 8 00 0 0

Sales 8 0 0 0 0
Accounts receivable
P80,000 on account, term 2/20, n/60. Cost of
inventory is 50% of sales.

Aug 16 Accounts Payable 2 05 0 0

Cash 2 0 5 0 0
Notes: Paid the balance on Suppliers Depot's
account.

Aug 30 Sales 3 00 0 0
 Equipment 3 0 0 0 0
Notes: Sold office equipment due to its
obsolescence worth P30,000.

Sep 4 Accounts receivable 8 00 0 0

Cash 8 0 0 0 0
Notes: Ricky Mo paid his outstanding account in
full.

Sep 15 Notes receivable 7 00 0 0

Accounts receivable 7 0 0 0 0
Notes: Sold 7 units of inventory to Jimmy Choi at
10,000 each, he made a 60% downpayment and
the balance is on account. Cost of inventory is 50%
of sales.

Oct 15 Capital 1 00 0 0
Cash 1 0 0 0 0
Notes: Chloe Santos withdrew P10,000 cash.

Nov 1 Selling Expenses 50 0 0

Cash 5 0 0 0
Notes: Paid selling expenses costing P5,000

Nov 5 Utilities Expenses 1 00 0 0

Cash 1 0 0 0 0
Notes: Paid office electricity and water bills
costing P10,000

Nov 30 Admistrative Expenses 50 0 0

Cash 5 0 0 0
Notes: Paid administrative expense costing P5,000

Dec 1 Accounts receivable 1 0 00 0 0

Sales 1 0 0 0 0 0
Notes; Received order of inventory worth P100,000
from Kate Ting on account, term 3/10. n/30.Cost of
inventory is 50% of sales.

Dec 15 Merchandise inventory 8 00 0 0

Deliver expenses 10 0 0
Cash 8 0 0 0 0
Accounts payable 8 1 0 0 0
 Notes: Bought inventory on account worth
P80,000. Paid the frieght with cash worth P1,000

Dec 16 Accounts receivable 8 10 0 0

Cash 8 1 0 0 0
Notes: received full payment of Kate Ting.

Dec 30 Advertising expenses 1 00 0 0

Cash 1 0 0 0 0
Notes: Paid advertising company with P10,000 in
cash

TOTAL: P1 3 4 3 5 0 0 P1 3 4 3 5 0 0

Dela Cruz Company

Trail Balance
December 31 2023

Cash P 4 00 0 0
Equipment 3 00 0 0
Supplies 2 00 0 0
Capital P1 0 2 5 0 0 0
Loan Payable 3 0 00 0 0
Merchandise Inventory 2 0 00 0
Delivery Expenses 15 0 0
Account Receivable 1 4 90 0 0
Sales 1 8 0 0 0 0
Prepaid Expenses 3 00 0 0
Accounts Payable 2 00 0 0
Notes Receivable 1 6 00 0 0
Salaries Expenses 5 00 0 0
Selling Expenses 50 0 0
Utilities Expenses 1 00 0 0
Administrative Expenses 50 0 0
Advertising Expenses 1 00 0 0
Land and Building 3 0 00 0 0
Total:
Dela Cruz Company
Statement of Financial Position
As on December 30 2023
Assets:
Cash P1 0 4 0 0 0
Accounts Receivable P1 0 0 0
 Notes Receivable P1 4 0 0 0 0
Equipment P3 0 0 0 0
Land and Building P3 0 0 0 0 0
Supplies P2 0 0 0
Merchandise Inventory P9 2 0 0 0

Equity:
Capital P6 2 0 0 0 0

Total Assets: P6 7 8 0 0 0
Total Equity: P6 2 0 0 0 0

Total Liabilities and Equity: P6 7 8 0 0 0