CASH

Date Explanation J.R. Debit Credit

2021
Jan. 1 Beginning Balance
Jan. 31 CR-35 2,758,400.00
31 CD-36 613,700.00

ACCOUNTS RECEIVABLE
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
24 GJ-13 30,000.00
31 S-16 1,420,000.00
31 CR-35 860,000.00

MERCHANDISE INVENTORY
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
Ending Balance

PREPAID RENT
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
Jan. 31 Adjusting Entry GJ-13 30,000.00

OFFICE SUPPLIES
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
 CD-43 40,000.00
Adjusting Entry GJ-13 130,000.00

OFFICE EQUIPMENT
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance

ACCUMULATED DEPRECIATION
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
Adjusting Entry GJ-13 10,000.00

NOTES PAYABLE
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
CR-35 170,000.00

ACCOUNTS PAYABLE
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance
GJ-13 10,000.00
P-25 1,370,000.00
CD-43

SALARIES PAYABLE
 Date Explanation J.R. Debit Credit
2021
Jan. 1 Adjusting Entry GJ-13 90,000.00

PANGAN, CAPITAL
Date Explanation J.R. Debit Credit
2021
Jan. 1 Beginning Balance

PANGAN, WITHDRAWALS
Date Explanation J.R. Debit Credit
2021
Jan. 19 CD-43 100,000.00

INCOME SUMMARY
Date Explanation J.R. Debit Credit

SALES
Date Explanation J.R. Debit Credit
2021
Jan. 31 Credit Sales S-16 1,420,000.00
Cash Sales CR-35 1,740,000.00
 SALES RETURNS & ALLOWANCES
Date Explanation J.R. Debit Credit
2021
Jan. 24 Returns from G. Sevidal GJ-13 30,000.00

PURCHASES
Date Explanation J.R. Debit Credit
2021
Jan. 31 P-25 1,370,000.00
31 CD-43 70,000.00

PURCHASES RETURNS & ALLOWANCES

Date Explanation J.R. Debit Credit

Jan. 9 GJ-13 10,000.00

PURCHASES DISCOUNTS
Date Explanation J.R. Debit Credit

Jan. 31 CD-43 6,300.00

TRANSPORTATION IN
Date Explanation J.R. Debit Credit
2021
Jan. 22 CD-43 20,000.00
 SALARIES EXPENSE
Date Explanation J.R. Debit Credit
2021
Jan. 15 CD-43 80,000.00
GJ-13 90,000.00

RENT EXPENSE
Date Explanation J.R. Debit Credit
2021
Jan. 31 Adjusting Enty GJ-13 30,000.00

OTHER SUPPLIES EXPENSE

Date Explanation J.R. Debit Credit
2021
Jan. 31 Adjusting Entry GJ-13 130,000.00

DEPRECIATION EXPENSE
Date Explanation J.R. Debit Credit
2021
Jan. 31 Adjusting Entry GJ-13 10,000.00

INTEREST EXPENSE
Date Explanation J.R. Debit Credit
 2021
Jan. 14 CD-43 10,000.00
Balance

240,000.00
2,998,400.00
2,384,700.00

Balance

210,000.00
180,000.00
1,600,000.00
740,000.00

Balance

730,000.00
470,000.00

Balance

90,000.00
60,000.00

Balance

160,000.00
 200,000.00
70,000.00

Balance

1,000,000.00

Balance

250,000.00
260,000.00

Balance

400,000.00
570,000.00

Balance

130,000.00
120,000.00
1,490,000.00
1,190,000.00
Balance

90,000.00

Balance

1,650,000.00

Balance

100,000.00

Balance

Balance

1,420,000.00
3,160,000.00
Balance

30,000.00

Balance

1,370,000.00
1,440,000.00

Balance

10,000.00

Balance

6,300.00

Balance

20,000.00
Balance

80,000.00
170,000.00

Balance

30,000.00

Balance

130,000.00

Balance

10,000.00

Balance
10,000.00
 R. LOYOLA
Date Explanation J.R. Debit Credit

Dec. 28 210,000.00
Jan. 4 CR-35 210,000.00
Jan. 18 Invoice # 319 S-16 460,000.00

B. BANDONELL
Date Explanation J.R. Debit Credit
2021
Jan. 2 Invoive # 316 S-16 240,000.00
10 240,000.00
23 Invoice #320 S-16 110,000.00

G. SEVIDAL
Date Explanation J.R. Debit Credit
2021
Jan. 8 Invoice # 317 S-16 310,000.00
24 Credit Memo GJ-13 30,000.00
25 CR-35 280,000.00

M. CERDA
Date Explanation J.R. Debit Credit
2021
Jan. 13' Invoice # 318 S-16 130,000.00
22 CR-35 130,000.00
29 Invoice # 321 S-16 170,000.00
Balance

210,000.00
-
460,000.00

Balance

240,000.00
-
110,000.00

Balance

310,000.00
280,000.00
-

Balance

130,000.00
-
170,000.00
 E. SAMONTE
Date Explanation J.R. Debit Credit

Dec. 29 Purchased on account

Jan. 7 Payment of Purchases CD-43 130,000.00
17 Purchased on account 190,000.00
26 Payment of Purchases 90,000.00

T. ARENAS
Date Explanation J.R. Debit Credit
2021
Jan. 2 Purchased on account 90,000.00
9 Return of Merchandise' 10,000.00
11 Payment of Purchases 80,000.00
29 Purchased on account 360,000.00

L. VIRAY
Date Explanation J.R. Debit Credit
2021
Jan. 10 Purchased on account 120,000.00
27 Purchased on account 270,000.00

A. BRAGANZA
Date Explanation J.R. Debit Credit
2021
Jan. 24 Purchased on account 340,000.00
Balance

130,000.00
-
190,000.00
100,000.00

Balance

90,000.00
80,000.00
-
360,000.00

Balance

120,000.00
390,000.00

Balance

340,000.00
 Ricardo Pangan Company
Cash Receipts Journal

2021 SUNDRY ACCOUNTS

Sales Accounts
OR Cash Sales Account POST
Date Description Discount Receivable Credit
No. Debit Credit Title Ref.
Debit Credit

Jan. 4 R. Loyola ₱ 205,800.00 ₱ 4,200.00 ₱ 210,000.00 /

Jan. 5 Cash Sales ₱ 430,000.00 ₱ 430,000.00 /

Jan. 10 B. Bandowell ₱ 235,200.00 ₱ 4,800.00 ₱ 240,000.00 /

Jan. 22 M. Cerda ₱ 127,400.00 ₱ 2,600.00 ₱ 130,000.00 /

Jan. 25 G. Sevidal ₱ 280,000.00 ₱ 280,000.00 /

Jan. 27 First Morayta Bank ₱ 170,000.00 Notes Payable 210 ₱ 170,000.00

Jan. 30 Cash Sales ₱ 1,310,000.00 ₱ 1,310,000.00 /

₱ 2,758,400.00 ₱ 11,600.00 ₱ 860,000.00 ₱ 1,740,000.00 / ₱ 170,000.00

(110) (430) (120) (410)

 Ricardo Pangan Company
Cash Disbursement Journal

2021 SUNDRY ACCOUNTS

Check PAYEE/ POST Cash in Bank Purchase Discount Accounts Payable Purchases Account POST
Date No. Debit
Description Ref. Credit Credit Debit Debit Title Ref.

Jan. 7 83 E. Samonte Company ₱ 126,100.00 ₱ 3,900.00 ₱ 130,000.00 /

Jan. 11 84 T. Arenas Company ₱ 77,600.00 ₱ 2,400.00 ₱ 80,000.00 /

Jan. 12 85 Purchased merchandise ₱ 70,000.00 ₱ 70,000.00 /

Jan. 14 86 Paid interes expense ₱ 10,000.00 Interest Expense 650 ₱ 10,000.00

Jan. 15 87 Payment of salaries ₱ 80,000.00 Salaries Expense 610 ₱ 80,000.00

Jan. 19 88 Withdrawal ₱ 100,000.00 Pangan, Withdrawals 320 ₱ 100,000.00

Jan. 21 89 Purchased office supplies ₱ 40,000.00 Office Supplies 150 ₱ 40,000.00

Jan. 22 90 Paid transportation in ₱ 20,000.00 Transportation In 540 ₱ 20,000.00

Jan. 26 91 E. Samonte Company ₱ 90,000.00 ₱ 90,000.00 /

₱ 613,700.00 ₱ 6,300.00 ₱ 300,000.00 ₱ 70,000.00 ₱ 250,000.00

 Ricardo Pangan Company
Sales Journal
2021
Accounts
POST Sales
Date Invoice No. Name of Customers / Account Debited Terms Receivable
Ref. Credit
Debit

Jan. 2 316 B. Bandonell / ₱ 240,000.00 ₱ 240,000.00

Jan. 8 317 G. Sevidal / ₱ 310,000.00 ₱ 310,000.00
Jan. 13 318 M. Cerda / ₱ 130,000.00 ₱ 130,000.00
Jan. 18 319 R. Loyola / ₱ 460,000.00 ₱ 460,000.00
Jan. 23 320 B. Bandonell / ₱ 110,000.00 ₱ 110,000.00
Jan. 29 321 M. Cerda / ₱ 170,000.00 ₱ 170,000.00
₱ 1,420,000.00 ₱ 1,420,000.00
(120) (410)
 Ricardo Pangan Company
Purchases Journal
2021
Accounts
Purchase POST Purchases
Date Name of Supplier/ Account Credited Terms Payable
Invoice No. Ref. Debit
Credit

Jan. 3 T. Arenas Company / ₱ 90,000.00 ₱ 90,000.00

Jan. 10 L. Viray Company / ₱ 120,000.00 ₱ 120,000.00
Jan. 17 E. Samonte Company / ₱ 190,000.00 ₱ 190,000.00
Jan. 24 A. Braganza Company / ₱ 340,000.00 ₱ 340,000.00
Jan. 27 L. Viray Company / ₱ 270,000.00 ₱ 270,000.00
Jan. 29 T. Arenas Company / ₱ 360,000.00 ₱ 360,000.00
₱ 1,370,000.00 ₱ 1,370,000.00
(220) (510)
 Ricardo Pangan Company
General Journal

POST
Date Account Title Debit Credit
Ref.

Jan. 9 Accounts Payable 220 ₱ 10,000.00

Purchases Returns and Allowances 520 ₱ 10,000.00
Returned of merchandise to T. Arenas Company

Jan. 24 Sales Retuns and Allowances 420 ₱ 30,000.00

Accounts Receivable 120 ₱ 30,000.00
Returns from G. Sevidal

Jan. 31 Rent Expense 620 ₱ 30,000.00

Prepaid Rent 140 ₱ 30,000.00
To adjust prepaid rent

Office Supplies Expense 630 ₱ 130,000.00

Office Supplies 150 ₱ 130,000.00
To adjust the office supplies

Depreciation Expense 640 ₱ 10,000.00

Accumulated Depreciation 165 ₱ 10,000.00
To record depreciation of equipment

Salaries Expense 610 ₱ 90,000.00

Salaries Payable 230 ₱ 90,000.00
To record salaries payable
 Ricardo Pangan Capital
WORKSHEET
FOR THE MONTH ENDED, JANUARY 31, 2021

Unadjusted Trial Balance Adjustments

Account Title Debit Credit Debit Credit
Cash 2,384,700.00
Accounts Receivable 740,000.00
Merchandise Inventory 730,000.00
Prepaid Rent 90,000.00 30,000.00
Office Supplies 200,000.00 130,000.00
Office Equipment 1,000,000.00
Accumulated Depreciation 250,000.00 10,000.00
Notes Payable 570,000.00
Accounts Payable 1,190,000.00
Salaries Payable 90,000.00
Pangan, Capital 1,650,000.00
Pangan, Withdrawals 100,000.00
Sales 3,160,000.00
Sales Returns and Allowances 30,000.00
Sales Discounts 11,600.00
Purchases 1,440,000.00
Purchases Returns and Allowances 10,000.00
Purchases Discounts 6,300.00
Transportation In 20,000.00
Salaries Expense 80,000.00 90,000.00
Rent Expense 30,000.00
Office Supplies Expense 130,000.00
Depreciation Expense 10,000.00
Interest Expense 10,000.00
6,836,300.00 6,836,300.00 260,000.00 260,000.00
Profit
 ardo Pangan Capital
WORKSHEET
NTH ENDED, JANUARY 31, 2021

Adjusted Trial Balance Income Statement Balance Sheet

Debit Credit Debit Credit Debit Credit
2,384,700.00 2,384,700.00
740,000.00 740,000.00
730,000.00 730,000.00 470,000.00 470,000.00
60,000.00 60,000.00
70,000.00 70,000.00
1,000,000.00 1,000,000.00
260,000.00 260,000.00
570,000.00 570,000.00
1,190,000.00 1,190,000.00
90,000.00 90,000.00
1,650,000.00 1,650,000.00
100,000.00 100,000.00
3,160,000.00 3,160,000.00
30,000.00 30,000.00
11,600.00 11,600.00
1,440,000.00 1,440,000.00
10,000.00 10,000.00
6,300.00 6,300.00
20,000.00 20,000.00
170,000.00 170,000.00
30,000.00 30,000.00
130,000.00 130,000.00
10,000.00 10,000.00
10,000.00 10,000.00
6,936,300.00 6,936,300.00 2,581,600.00 3,646,300.00 4,824,700.00 3,760,000.00
1,064,700.00 1,064,700.00
3,646,300.00 4,824,700.00