WORKSHEET

UNADJUSTED TRIAL ADJUSTED STATEMENT STATEMENT OF

ADJUSTMENTS
F BALANCE TRIAL BALANCE OF INCOME FINANCIAL POSITION
Cash on Hand 111 P 179 702 P 179 702 P 179 702
Cash in Bank 112 23 050 23 050 23 050
Accounts Receivable 113 24 000 24 000 24 000
Merchandise Inventory 114 18 000 18 000 18 000
Advance Rentals 115 8 000 P 4 000 4 000 4 000
Store Furniture 116 10 000 10 000 10 000
Store Equipment 117 11 880 11 880 11 880
Accounts Payable 118 P 24 000 P 24 000 P 24 000
Notes Payable 119 46 000 46 000 46 000
Withholding Taxes Payable 211 840 840 840
SSS Contributions Payable 212 1 600 1 600 1 600
Medicare Contributions Payable 311 500 500 500
C. Dela Cruz, Capital 312 173 000 173 000 173 000
C. Dela Cruz, Drawing 411 800 800 800
Sales 511 167 950 167 950 P 167 950
Sales Returns & Allowances 512 1 200 1 200 P 1 200
Sales Discounts 513 140 140 140
Purchases 514 128 400 128 400 128 400
Purchases Returns Allowances 515 2 200 2 200 2 200
Purchases Discounts 516 342 342 342
Freight In 620 620 620
Wages Expense 10 000 10 000 10 000
Taxes and Licenses 580 580 580
Interest Income 30 30 30
Interest Expense 90 . 90 90
P 416 462 P 416 462
Acc. Depreciation- Furniture 416.67 416.67 416.67
Bad Debts Expense P 2 400 2 400 2 400
Allowance for Bad Debts 2 400 2 400 2 400
Depn. Expense- Equipment 330 330 330
Acc. Depreciation-Equipment 330 330 330
Rent Expense 4 000 4 000 4 000
Depn. Expense-Furniture 416.67 416.67 . 416.67 . . .
P419 608.67 P419 608.67 148 176.67 P 170 522 P 271 342 249 086.67
Net Income 22 345.33 22 345.33
P 170 522 P 271 342