Date Particulars Debit Credit

2017
Dec 1 Cash 1000000
TM, Capital 1000000
To record initial investment

2 Purchases 50000
Input Tax 6000
Cash 56000
To record purchase of inventory

2 Purchases 70000
Input Tax 8400
Accounts Payable 78400
To record purchase of inventory

2 Office Equipment 132000

Input Tax 15840
Cash 147840
To record purchase of office supplies

Dec 5 Office Supplies 10000

Input Tax 1200
Cash 11200
To record purchase of office supplies

7 Cash 56000
Output Tax 6000
Sales 50000
To record sales of inventory

7 Purchases 40000
Freight-in 2000
Input Tax 5040
Cash 47040
To record purchase of inventory

12 Accounts Payable 56000

Cash 56000
To record payment of purchase on account

15 Salaries Expense 16500

SSS Premiums Payable 1100
Philhealth Premiums Payable 412.5
Pag-Ibig Premiums Payable 300
 Cash 14687.5
To record payment of salaries

15 Notes Receivable 22400

Cash 100
Sales 20000
Output Tax 2400
Interest Income 100
To record sales with promissory note

19 Accounts Receivable 112000

Sales 100000
Output Tax 12000
To record sales on account

22 Cash 112000
Accounts Receivable 112000
To record payment of sales

23 Purchases 60000
Input Tax 7200
Accounts Payable 67200
To record purchase on account

26 Cash 490000
Interest Expense 10000
Loans Payable 500000
To record proceeds received

26 Cash 22400
Output Tax 2400
Sales 20000
To record sales of inventory

27 Accounts Payable 67200

Cash 67200
To record payment of purchase on account

27 Cash 78400
Sales 70000
Output Tax 8400
To record sales of inventory

28 Accounts Receivable 33600

Sales 30000
 Output Tax 3600
To record sales on account

29 Utilities Payable 20000

Input Tax 2400
Cash 22400
To record payment for utilities

29 Rental Expense 30000

Input Tax 3600
Cash 33600
To record payment of rent

29 Salaries Expense 16500

SSS Premiums Payable 2332
Philhealth Premiums Payable 412.5
Pag-Ibig Premiums Payable 300
Withholding Tax Payable 2000
Cash 11455.5
To record payment for salaries
 110- CASH 120- ACCOUNTS RECEIVABLE 210- ACCOUNTS PAYABLE
Date Ref Debit Credit Date Ref Debit Credit Date Ref Debit Credit
1 1 1000000 19 3 112000 2 1 78400
2 1 56000 22 3 112000 12 2 78400
2 1 147840 28 4 33600 23 3 67200
5 1 11200 145600 112000 27 4 67200
7 2 56000 112000 145600 145600
7 2 47040 33600 145600
12 2 78400 0
15 2 14687.5 130- NOTES RECEIVABLE 230- LOANS PAYABLE
15 3 100 Date Ref Debit Credit Date Ref Debit Credit
22 3 112000 15 3 22400 26 3 500000
26 3 490000
26 4 22400 160- OFFICE SUPPLIES 240- WITHHOLDING TAX PAYABLE
27 4 67200 Date Ref Debit Credit Date Ref Debit Credit
27 4 78400 5 1 10000 29 5 2000
29 4 22400
29 5 33600 170- OFFICE EQUIPMENT 420- INTEREST INCOME
29 5 11455.5 Date Ref Debit Credit Date Ref Debit Credit
1758900 489823 2 1 132000 15 3 100
489823
1269077 310- TM, CAPITAL
Date Ref Debit Credit
1 1 1000000
 520- INPUT TAX 530- PURCHASES 550-RENT EXPENSE
Date Ref Debit Credit Date Ref Debit Credit Date Ref Debit Credit
2 1 6000 2 1 50000 29 5 30000
2 1 8400 2 1 70000
2 1 15840 7 2 40000 270- PAGIBIG PREMIUMS PAYABLE
5 1 1200 23 3 60000 Date Ref Debit Credit
7 2 5040 220000 15 2 300
23 3 7200 29 5 300
29 4 2400 540- FREIGHT-IN 250- PHILHEALTH PREMIUMS PAYABLE
29 5 3600 Date Ref Debit Credit Date Ref Debit Credit
49680 7 2 2000 15 2 412.5
29 5 412.5
510- OUTPUT TAX 550- SALARIES EXPENSE 825
Date Ref Debit Credit Date Ref Debit Credit 250- SSS PREMIUMS PAYABLE
7 2 6000 15 2 16500 Date Ref Debit Credit
15 3 2400 29 5 16500 15 2 1100
19 3 12000 33000 29 5 2332
26 4 2400 3432
27 4 8400 550-UTILITIES EXPENSE
28 4 3600 Date Ref Debit Credit
34800 29 3 20000
410- SALES
Date Ref Debit Credit 550-INTEREST EXPENSE
7 2 50000 Date Ref Debit Credit
15 3 20000 26 3 10000
19 3 100000
26 4 20000
27 4 70000
28 4 30000
290000
1 Bad Debts Expense 1680
Allowance for Bad Debts 1680

2 Depreciation Expense 1000

Accumulated Depreciation 1000

3 Prepaid Rent 15000

Rent Expense 15000

4 Rental Receivable 5000

Rental Income 5000

5 Output Tax 34800

VAT- Payable 14880
Input Tax 49680
Acct. Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Title Account Name
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit

110 Cash 1269077 1269077 1269077

120 Accounts Receivable 33600 33600 33600
130 Notes Receivable 22400 22400 22400
160 Office Supplies 10000 10000 10000
170 Office Equipment 132000 132000 132000
230 Loans Payable 500000 500000 500000
240 Withholding Tax Payable 2000 2000 2000
250 SSS Premiums Payable 3432 3432 3432
260 PhilHealth Premiums Payable 825 825 825
270 PagIbig Premiums Payable 600 600 600
310 TM, Capital 1000000 1000000 1000000
410 Sales 290000 290000 290000
420 Interest Income 100 100 100
510 Output Tax 34800 34800
520 Input Tax 49680 49680
530 Purchases 220000 220000 220000
540 Freight-in 2000 2000 2000
550 Salaries Expense 33000 33000 33000
560 Utilities Expense 20000 20000 20000
570 Interest Expense 10000 10000 10000
580 Rent Expense 30000 15000 15000 15000
Adjustments:
590 Bad Debts Expense 1680 1680 1680
121 Allowance for Bad Debts 1680 1680 1680
Depreciation Expense 1000 1000 1000
171 Accumulated Depreciation 1000 1000 1000
Prepaid Rent 15000 15000 15000
140 Rental Receivable 5000 5000 5000
430 Rental Income 5000 5000 5000
290 VAT Payable 14880 14880 14880
Totals 1831757 1831757 72360 72360 1804637 1804637 302680 295100 1501957 1509537
Net Loss 7580 7580
Totals 302680 302680 1509537 1509537