Kashato Shirts - Solutions - Copy - baixardoc
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KASHATO SHIRTS WORKSHEET October 31, 2008 UNADJUSTED ADJUSTED TRIAL BALANCE ADJUSTMENTS TRIAL BALANCE NO. ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT 100 Cash 854,253.66 22,400.00 876,653.66 101 Petty Cash 16,000.00 16,000.00 110 Notes Receivable 33,600.00 33,600.00 111 Interest Receivable 0.00 134.40 134.40 112 Accounts Receivable 188,160.00 22,400.00 165,760.00 113 Allowance for Uncollectible Accounts 2,688.00 4,771.20 7,459.20 120 Merchandise Inventory 871,200.00 871,200.00 130 Supplies 32,272.00 22,772.00 9,500.00 140 Prepaid Insurance 12,750.00 2,750.00 10,000.00 141 Prepaid Rent 150,000.00 50,000.00 100,000.00 150 Furniture and Fixtures 676,000.00 676,000.00 151 Accum. Dep. - Furniture & Fixture 74,250.00 7,056.00 81,306.00 152 Equipment 735,000.00 735,000.00 153 Accum. Dep. - Equipment 134,500.00 12,250.00 146,750.00 154 Service Vehicle 410,000.00 410,000.00 155 Accum. Dep. - Service Vehicle 33,000.00 5,500.00 38,500.00 160 Rent Deposit 150,000.00 150,000.00 161 Utilities Deposit 18,500.00 18,500.00 200 Notes Payable 0.00 201 Interest Payable 0.00 202 Accounts Payable 482,049.00 482,049.00 210 Salaries Payable 211 SSS and EC Contribution Payable 0.00 15,400.00 15,400.00 212 Philhealth Contribution Payable 0.00 5,175.00 5,175.00 213 PAG-IBIG Contribution Payable 0.00 1,800.00 1,800.00 214 Withholding Tax Payable 0.00 34,721.02 34,721.02 220 Rent Payable 221 Utilities Payable 230 Value Added Tax Payable 123,050.40 123,050.40 230-1 Input Vat 0.00 230-2 Output Vat 14,052.00 14,052.00 240 Voucher's Payable 662,195.42 662,195.42 300 Therese Ballada , Capital 2,501,008.67 2,501,008.67 301 Therese Ballada, Withdrawals 205,000.00 205,000.00 400 Sales 1,896,200.00 1,896,200.00 401 Sales Discounts 5,640.00 5,640.00 402 Sales Returns and Allowances 4,000.00 4,000.00 410 Interest Income 1,600.00 134.40 1,734.40
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Transcript of Kashato Shirts - Solutions - Copy - baixardoc
KASHATO SHIRTS
WORKSHEET
October 31, 2008
UNADJUSTED ADJUSTED
TRIAL BALANCE ADJUSTMENTS TRIAL BALANCE
NO. ACCOUNT TITLE DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
100 Cash 854,253.66 22,400.00 876,653.66
101 Petty Cash 16,000.00 16,000.00
110 Notes Receivable 33,600.00 33,600.00
111 Interest Receivable 0.00 134.40 134.40
112 Accounts Receivable 188,160.00 22,400.00 165,760.00
113 Allowance for Uncollectible Accounts 2,688.00 4,771.20 7,459.20
120 Merchandise Inventory 871,200.00 871,200.00
130 Supplies 32,272.00 22,772.00 9,500.00
140 Prepaid Insurance 12,750.00 2,750.00 10,000.00
141 Prepaid Rent 150,000.00 50,000.00 100,000.00
150 Furniture and Fixtures 676,000.00 676,000.00
151 Accum. Dep. - Furniture & Fixture 74,250.00 7,056.00 81,306.00
152 Equipment 735,000.00 735,000.00
153 Accum. Dep. - Equipment 134,500.00 12,250.00 146,750.00
154 Service Vehicle 410,000.00 410,000.00
155 Accum. Dep. - Service Vehicle 33,000.00 5,500.00 38,500.00
160 Rent Deposit 150,000.00 150,000.00
161 Utilities Deposit 18,500.00 18,500.00
200 Notes Payable 0.00
201 Interest Payable 0.00
202 Accounts Payable 482,049.00 482,049.00
210 Salaries Payable
211 SSS and EC Contribution Payable 0.00 15,400.00 15,400.00
212 Philhealth Contribution Payable 0.00 5,175.00 5,175.00
213 PAG-IBIG Contribution Payable 0.00 1,800.00 1,800.00
214 Withholding Tax Payable 0.00 34,721.02 34,721.02
220 Rent Payable
221 Utilities Payable
230 Value Added Tax Payable 123,050.40 123,050.40
230-1 Input Vat 0.00
230-2 Output Vat 14,052.00 14,052.00
240 Voucher's Payable 662,195.42 662,195.42
300 Therese Ballada , Capital 2,501,008.67 2,501,008.67
301 Therese Ballada, Withdrawals 205,000.00 205,000.00
400 Sales 1,896,200.00 1,896,200.00
401 Sales Discounts 5,640.00 5,640.00
402 Sales Returns and Allowances 4,000.00 4,000.00
410 Interest Income 1,600.00 134.40 1,734.40
500 Purchases 684,400.00 684,400.00
501 Transportation IN 4,000.00 4,000.00
502 Purchases Discounts 10,400.00 10,400.00
503 Purchases Returns and Allowances 10,000.00 10,000.00
600 Advertising Expense 8,000.00 8,000.00
601 Supplies Expense 22,772.00 22,772.00
602 Insurance Expense 2,750.00 2,750.00
603 Rent Expense 50,000.00 50,000.00
604 Utilities Expense 22,300.00 22,300.00
605 Repairs and maintenance Expense 7,400.00 7,400.00
610 Salaries Expense 233,000.00 233,000.00
611 SSS and EC Contribution Expense 10,563.60 10,563.60
612 Philhealth Contribution Expense 2,587.50 2,587.50
613 PaG-IBIG Contribution Expense 900.00 900.00
620 Uncollectible Accounts Expense 4,771.20 4,771.20
630 Dep. Exp. - Furniture and Fixture 7,056.00 7,056.00
631 Dep. Exp. - Equipment 12,250.00 12,250.00
632 Dep. Exp - Service vehicle 5,500.00 5,500.00
640 Miscellaneous Expense 784.00 784.00
650 Interest Expense 3,833.33 3,833.33
TOTALS 5,340,144.09 5,339,894.09 789,829.02 789,829.02 5,369,855.69 5,369,605.69
NET INCOME
250.00
INCOME BALANCE SHEET
STATEMENT
DEBIT CREDIT DEBIT CREDIT
876,653.66
16,000.00
33,600.00
134.40
165,760.00
7,459.20
871,200.00 700,360.00 700,360.00
9,500.00
10,000.00
100,000.00
676,000.00
81,306.00
735,000.00
146,750.00
410,000.00
38,500.00
150,000.00
18,500.00
482,049.00
15,400.00
5,175.00
1,800.00
34,721.02
123,050.40
14,052.00
2,501,008.67
205,000.00
1,896,200.00
5,640.00
4,000.00
1,734.40
684,400.00
4,000.00
10,400.00
10,000.00
8,000.00
22,772.00
2,750.00
50,000.00
22,300.00
7,400.00
233,000.00
10,563.60
2,587.50
900.00
4,771.20
7,056.00
12,250.00
5,500.00
784.00
3,833.33
1,963,707.63 2,618,694.40 4,106,508.06 3,451,271.29
654,986.77 655,236.77
2,618,694.40 2,618,694.40 4,106,508.06 4,106,508.06
Kashato Shirt Company
Income Statement
For the Month Ended Oct. 31, 2010
Net Sales
Gross Sales
Sales Discounts 5,640.00
Sales Returns and Allowances 4,000.00
Less:
Net Sales
Cost of Goods Sold
Merchandise Iinventory 10/1/10 871,200.00
Add:Purchases 684,400.00
Purchases Discounts 10,400.00
Purchases Returns and Allowances 10,000.00
Less: 20,400.00
Add:Transportation IN 4,000.00
Available for Sale
Less:Merchandise Iinventory 10/31/10
Cost of Sales
Gross Profit
Operating Expenses
Selling Expenses
Advertising Expense 8,000.00
Supplies Expense 22,772.00
Insurance Expense 2,750.00
Total:Selling Expenses
Rent Expense 50,000.00
Utilities Expense 22,300.00
Repairs and maintenance Expense 7,400.00
Salaries Expense 233,000.00
SSS and EC Contribution Expense 10,313.60
Philhealth Contribution Expense 2,587.50
PaG-IBIG Contribution Expense 900.00
Uncollectible Accounts Expense 4,771.20
Dep. Exp. - Furniture and Fixture 7,056.00
Dep. Exp. - Equipment 12,250.00
Dep. Exp - Service vehicle 5,500.00
Miscellaneous Expense 784.00
Interest Expense 3,833.33
Total:Admistrative Expenses
Total:Operating Expense
Add: Interest Income
Profit
1,896,200.00
9,640.00
1,886,560.00
1,539,200.00
700,360.00
838,840.00
33,522.00
360,695.63
394,217.63
1,734.40
655,236.77
Kashato Shirt Company
Statement of Changes in Equity
For the Month Ended Oct. 31, 2010
Therese Ballada , Owners Equity 10/1/13
Add:Profit
Total
Less:Withdrawal
Therese Ballada , Owners Equity 10/31/13
2,501,008.67
655236.77
3,156,245.44
205,000.00
2,951,245.44
