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ALFRESCO MARKETING

Schedule of Accounts Receivable


As of June 30, 2011

International Supermarket P 8,550.00


Vasquez Grocery 11,100.00
Paula's Mini Mart 3,015.00
Fairview Grand Hotel 6,300.00

TOTAL ---------------------------------------------- P 28,965.00

ALFRESCO MARKETING
Schedule of Accounts Payable
As of June 30, 2011

Ever Bright Candles P 5,400.00


Nature's Best Products 11,700.00
Woder Care Beauty Products 19,800.00

TOTAL ---------------------------------------------- P 36,900.00


ALFRESCO MARKETING
TEN COLUMN WORKSHEET
For the month ended June 30, 2011

TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BA


Debit Credit Debit Credit Debit Credit Debit Credit Debit
102 Cash in Bank P 30,841.17 j.) 3,847.50 P 26,993.67
103 Petty Cash Fund 2,000.00 f.) 1,905.35 94.65
104 Accounts Receivable 28,965.00 28,965.00
107 Merchandise Inventory Beginning 57,790.00 57,790.00 57,790.00
201 Furnitures & Equipment 69,387.50 69,387.50
202 Delivery Equipment 87,333.00 87,333.00
301 Deposit for Rent 10,000.00 10,000.00
302 Deposit for Utilities 2,000.00 2,000.00
401 Accounts Payable P 36,900.00 d.) 700.00 37,600.00
402 Notes Payable 15,120.00 15,120.00
411.1 Input Tax 9,103.49 9,103.49
411.2 Output Tax 8,636.91 8,636.91
501 Mabuhay, Capital 274,510.00 274,510.00
502 Mabuhay, Personal 200.00 200.00
601 Sales 73,198.67 73,198.67 73,198.67
602 Sales Discount 1,222.56 1,222.56 1,222.56
701 Purchases 64,285.72 64,285.72 64,285.72
703 Purchase Discount 48.21 48.21 48.21
704 Purchase Returns & Allowances 3,214.29 3,214.29 3,214.29
805 Gas & Oil 446.43 f.) 350.00 796.43 796.43
808 Rent Expense 500.00 b1)10,000.00 9,500.00 9,500.00
810 Salaries Expense 47,347.00 47,347.00 47,347.00
811 Supplies Expense 313.35 f.) 308.00 e.) 250.00 371.35 371.35
814 Repairs & Maintenance Expense 892.86 f.) 1,247.35 2,140.21 2,140.21

809 SS & EC Premium Expense a1) 3,795.40 3,795.40 3,795.40


403 SS & EC Premiums Payable a1) 3,795.40 3,795.40
807 Medicare Premium Expense a2) 662.50 662.50 662.50
404 Medicare Premiums Payable a2) 662.50 662.50
806 Pag-ibig Premium Expense a3) 500.00 500.00 500.00
405 Pag-ibig Premium Payable a3) 500.00 500.00
408 Rent Payable b1)10,000.00 10,000.00
813 Utilities Expense b2) 1,500.00 1,500.00 1,500.00
409 Utilities Payable b2) 1,500.00 1,500.00
804 Depreciation-Delivery Equipment c1)15,466.60 15,466.60 15,466.60
202.1 Accumulated Depreciation-Delivery Equipment c1)15,466.60 15,466.60
803 Depreciation-Furniture & Equipment c2)10,108.13 10,108.13 10,108.13
201.1 Accumulated Depreciation-Furniture & Equipt. c2)10,108.13 10,108.13
903 Bank Charges d.) 700.00 700.00 700.00
109 Prepaid Supplies e.) 250.00 250.00
411 VAT Payable g.) 466.58 466.58
812 Taxes & Licenses Expense g.) 466.58 466.58 466.58
902 Interest Expense h.) 226.80 226.80 226.80
407 Interest Payable h.) 226.80 226.80
503 Income and Expense Summary i.) 71,800.00 71,800.00 71,800.00
101 Cash on Hand j.) 3,847.50 3,847.50
107 Merchandise Inventory Ending i.) 71,800.00 71,800.00
216,412.70 148,727.75
Net Loss 67,684.95
Totals P 412,128.08 P 412,128.08 P 121,228.86 P 121,228.86 P 526,854.09 P 526,854.09 P 216,412.70 P 216,412.70 P
BALANCE SHEET
Debit Credit
P 26,993.67
94.65
28,965.00

69,387.50
87,333.00
10,000.00
2,000.00
37,600.00
15,120.00
9,103.49
8,636.91
274,510.00
200.00

3,795.40

662.50

500.00
10,000.00

1,500.00
15,466.60

10,108.13

250.00
466.58

226.80

3,847.50
71,800.00
310,441.39 378,126.34
67,684.95
378,126.34 P 378,126.34
ALFRESCO MARKETING
INCOME STATEMENT
For the month ended June 30, 2011

Net Sales (Note 1) P 71,976.11


Cost of Sales (Note 2) (47,013.22)
Gross Income P 24,962.89
Expenses (Note 3) (92,647.84)
Net Loss P (67,684.95)

Note 1: Sales P 73,198.67


Less: Sales Discount (1,222.56)
Net Sales P 71,976.11

Note 2: Merchandise Inventory Beginning P 57,790.00


Add Net Cost of Purchases:
Purchases P 64,285.72
Less:
Purchase Discount P 48.21
Purchase Returns & Allowances 3,214.29 (3,262.50) P 61,023.22
Total Goods Available for Sale 118,813.22
Less: Merchandise Inventory End (71,800.00)
Cost of Sales P 47,013.22

Note 3: Gas & Oil P 796.43


Rent Expense 9,500.00
Salaries Expense 47,347.00
Repairs & Maintenance Expense 2,140.21
Supplies Expense 371.35
SS & EC Premium Expense 3,795.40
Medicare Premium Expense 662.50
Pag-ibig Premium Expense 500.00
Utilities Expense 1,500.00
Depreciation Expense-Delivery Equipt. 15,466.60
Depreciation Expense-Furniture & Equipt. 10,108.13
Bank Charges 700.00
Taxes & Licenses Expense (466.58)
Interest Expense 226.80 P 92,647.84
ALFRESCO MARKETING
CAPITAL STATEMENT
For the month ended June 30, 2011

Mariano Mabuhay, Capital Beginning P 274,510.00


Less: Net Loss -67,684.95
Total P 206,825.05
Less: Mariano Mabuhay, Personal -200.00
Mariano Mabuhay, Capital End P 206,625.05
ALFRESCO MARKETING
STATEMENT OF FINANCIAL POSITION
For the month ended June 30, 2011

ASSETS

Current Assets:
Cash on Hand P 3,847.50
Cash in Bank 26,993.67
Accounts Receivable 28,965.00
Petty Cash Fund 94.65
Merchandise Inventory 71,800.00
Prepaid Supplies 250.00
Total P 131,950.82

Non-Current Assets:
Property & Equipment (Note 1) P 131,145.77
Other Assets (Note 2) 12,000.00 143,145.77
Total Assets P 275,096.59

LIABILITIES & OWNER'S EQUITY

Current Liabilities:
Trade & other Payables (Note 3) P 68,471.54
Owner's Equity:
Mariano, Mabuhay Capital 206,625.05 P 275,096.59

Note 1:
Furniture & Equipment P 69,387.50
Less: Accumulated Depreciation - Furniture & Fixtures (10,108.13) P 59,279.37
Delivery Equipment P 87,333.00
Less: Accumulated depreciation - Equipment (15,466.60) 71,866.40
Total Property & Equipment P 131,145.77

Note 2: Other Assets


Deposit for Rent P 10,000.00
Deposit for Utilities 2,000.00
Total P 12,000.00

Note 3:
Accounts Payable P 37,600.00
Notes Payable 15,120.00
SS and EC Premium Payable 3,795.40
Medicare Premium Payable 662.50
Pag-ibig Premium Payable 500.00
Rent Payable 10,000.00
Utilities Payable 1,500.00
Vat Payable (466.58)
Interest Payable 226.80
Output Tax 8,636.91
Input Tax (9,103.49)
Total P 68,471.54
Closing Entries:
1.) Sales
Purchase Returns & Allownaces P 73,198.67
Purchase Discount 3,214.29
Income & Expense Summary 48.21 P 76,461.17

2.) Income & Expense Summary


Merchandise Inventory Beginning P 57,740.00
Sale Discount 1,222.56
Purchases 64,285.72
Gas & Oil 796.43
Rent Expense 9,500.00
Salaries Expense 47,347.00
Repairs & Maintenance Expense 2,140.21
Supplies Expense 371.35
SS and Ec Premium Expense 3,795.40
MCR Premium Expense 662.50
Pag-ibig Premium Expense 500.00
Utilities Expense 1,500.00
Depreciation Expense - Delivery Equipt. 15,166.60
Depreciation Expense - Furniture & Equipt. 10,108.13
Bank Charges 700.00
Taxes & Licenses Expense (166.58)
Interest Expense 226.80

3.) Mariano Mabuhay, Capital P 67,684.95


Income & Expense Summary 67,684.95

4.) Mariano Mabuhay, Capital 200.00


Mariano Mabuhay, Personal 200.00
Note 1:
Furniture & Equipment P 69,387.50
Less: Accumulated Depreciation - Furniture & Fixtures (10,108.13) P 59,279.37
Delivery Equipment P 87,333.00
Less: Accumulated depreciation - Equipment (15,466.60) 71,866.40
Total Property & Equipment P 131,145.77

Note 2: Other Assets


Deposit for Rent P 10,000.00
Deposit for Utilities 2,000.00
Total P 12,000.00

Note 3:
Accounts Payable P 37,600.00
Notes Payable 15,120.00
SS and EC Premium Payable 3,795.40
Medicare Premium Payable 662.50
Pag-ibig Premium Payable 500.00
Rent Payable 10,000.00
Utilities Payable 1,500.00
Vat Payable (466.58)
Interest Payable 226.80
Output Tax 8,636.91
Input Tax (9,103.49)
Total P 68,471.54