GENERAL JOURNAL PAGE 1

Date Particulars F Debit

1-Oct Cash in Bank 102 200,000
Cash on Hand 101 50,000
Merchandise Inventory 104 50,000
Concepcion, Capital 301
Owner's Investment

2 Prepaid Rent 106 18,000

Cash in Bank 102
Advance payment for two month's rent

Taxes and Licenses 620 1,200

Cash on Hand 101
Paid taxes and licenses to the BIR

3 Purchases (13,440 / 1.12) 501 12,000

Input Tax (12,000 * .12) 207 1,440
Accounts Payable 201
2/10, n/30

5 Store Supplies (1,792 / 1.12) 105 1,600

Input Tax (1,600 * .12) 207 192
Accounts Payable 201
1/10, n/30

8 Accounts Receivable 103 11,760

Sales (11,760 / 1.12) 401
Output Tax (10,500 * .12) 208
1/10, n/30

12 Accounts Payable 201 13,440

Purchase Discount (12,000 * .02) 503
Input Tax (240 * .12) 207
Cash in Bank 102
Paid in full our account with Subic

GENERAL JOURNAL PAGE 2

14 Purchases (28,000 / 1.12) 501 25,000

Input Tax (25,000 * .12) 207 3,000
Accounts Payable 201
1/10, n/30
15 Accounts Payable 201 1,792
Store Supplies (1,600 * .01) 105
Input Tax (16 * .12) 207
Cash on Hand 101
Paid in full our account with Goodwill Bookstore

Cash in Bank 102 35,840

Sales (35,840 / 1.12) 401
Output Tax (32,000 * 0.12) 208
Cash Sales

16 Accounts Receivable 103 8,960

Sales (8,960 / 1.12) 401
Output Tax (8,000 * .12) 208
Sold merchandise to Robinson's. Terms n/30

18 Cash in Bank 102 11,642

Sales Discount (10,500 * .01) 402 105
Output Tax (105 * .12) 208 12.6
Accounts Receivable 103
Received a check from Rustan

20 Freight In 502 5,800

Input Tax 207 696
Cash in Bank 102
Issued a check for Freight Forwarders

25 Cash in Bank 102 100,000

Notes Payable 202
Received a 10%, 90-day note from Citibank

28 Accounts Payable 201 28,000

Cash in Bank 102
Paid Evergreen in full

29 Cash in Bank 102 28,000

Sales (28,000 / 1.12) 401
Output Tax (25,000 * .12) 208
Cash sales

30 Concepcion, Drawings 302 5,000

Cash in Bank 102
Owner's drawing

Store Salaries Expense 615 12,000

Withholding Tax Payable 204
SS and Philhealth Payable 205
Pag-ibig Premiums Payable 206
Cash in Bank 102
 Paid salaries for sales clerk

Office Salaries Expense 614 12,000

Withholding Tax Payable 204
SS and Philhealth Payable 205
Pag-ibig Premiums Payable 206
Cash in Bank 102
Paid salaries for office clerk

31 Output Tax 208 9,047

Input Tax 207
VAT Payable 203

VAT Payable 203 3,750

Cash on Hand 101
 ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME: PETER CO
ADDRESS :

DATE EXPLANATION F DEBIT

1-Oct INV NO 101, 2/10, N/30
7-Oct ALLOWANCE GRANTED 2,000

ACCOUNTS PAYABLE SUBSIDIARY LEDGER

NAME: JAMES INC.
ADDRESS :

DATE EXPLANATION F DEBIT

4-Oct INV NO 102, 2/10, N/30
6 RETURNED ONE AIR CON 16,800

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME: JUDE ENTERPRISES
ADDRESS :

DATE EXPLANATION F DEBIT

8-Oct 2/10, N/30 161,200
12-Oct RETURNED ONE AIRCON
 Cash on Hand
Credit DATE ITEM F DEBIT DATE ITEM F
1-May BALANCE 50,000
2-May
15-May
300,000 31-May
50,000
31-May BALANCE 43,276

18,000

Cash in Bank
DATE ITEM F DEBIT DATE ITEM F
1,200 1-May BALANCE 200,000
2-May GJ 1
15 GJ2 35,840 12 GJ 1
18 GJ3 11,642 20 GJ2
25 GJ3 100,000 28 GJ3
13,440 29 GJ1 28,000 30 GJ3
375,482
31-Oct BALANCE 283,575

1,792 Accounts Receivable

DATE ITEM F DEBIT DATE ITEM F
8-May BALANCE 11,760
16-May 8,960
10,500 18-May GJ3
1,260 20,720
31-May BALANCE 8,960

240
29 Merchandise Inventory
13,171 DATE ITEM F DEBIT DATE ITEM F

1-May BALANCE 50,000

50,000
31-May BALANCE 50,000

28,000

Store Supplies
 DATE ITEM F DEBIT DATE ITEM F
16
1.92 5-May BALANCE 1,600
1,774 15-May
1,600
31-May BALANCE 1,584

32,000
3,840

8,000
960 Office Furniture
DATE ITEM F DEBIT DATE ITEM F

1-May GJ 1 40,000 7-May GJ2

11 GJ2
40,000
11,760 31-May BALANCE 37,450

6,496

Prepaid Rent
100,000 DATE ITEM F DEBIT DATE ITEM F

2-May BALANCE 18,000

28,000 18,000
31-May BALANCE 18,000

25,000
3,000

5,000 Jay, Capital

DATE ITEM F DEBIT DATE ITEM F
1-Oct BALANCE
10-Oct GJ 2
600
540
240
10,620
 600
540
240
10,620 Jay, Drawing
DATE ITEM F DEBIT DATE ITEM F

5,297
3,750

3,750
CREDIT BALANCE
44,800 44,800
42,800

CREDIT BALANCE
168,000 168,000
151,200

CREDIT BALANCE
161,200
26,880 134,320
 101 Accounts Payable 201
CREDIT DATE ITEM F DEBIT DATE ITEM F CREDIT

1,200 3-May BALANCE GJ1 13,440

1,774 12-May 13,440 5 1,792
3,750 15 1,792 14 28,000
6,724 28 28,000
43,232 43,232
Oct-31 BALANCE 0

102
CREDIT
Notes payable 202
18,000 DATE ITEM F DEBIT DATE ITEM F CREDIT
13,171
6,496 25-May BALANCE 100,000
28,000
26,240 100,000
91,907 31-Oct BALANCE 100,000

103
CREDIT

11,760
11,760 Withholding Taxes Payable 203
DATE ITEM F DEBIT DATE ITEM F CREDIT

Oct-30 GJ4 8,400

104
CREDIT

SS and Philhealth Payable 204

DATE ITEM F DEBIT DATE ITEM F CREDIT

Oct-30 , 6,300
106 Oct-31 11,900
CREDIT 18,200

16
16

Pag - Ibig Contributions Payable 206

DATE ITEM F DEBIT DATE ITEM F CREDIT

107 Oct-30 GJ 4 2,800

CREDIT Oct-31 GJ4 2,800
5,600
1,786
764
2,550

Sales 401

DATE ITEM F DEBIT DATE ITEM F CREDIT

106
CREDIT Oct-5 GJ 1 60,000
8-Oct GJ 2 144,000
Oct-13 GJ2 150,000
354,000

Sales Returns and Allowances 402

DATE ITEM F DEBIT DATE ITEM F CREDIT
301
CREDIT 12-Oct GJ2 24,000
120,000
6,000
126,000
 Sales Discount 403
DATE ITEM F DEBIT DATE ITEM F CREDIT
302
CREDIT 18-Oct GJ3 2,400

Interest Income 404

DATE ITEM F DEBIT DATE ITEM F CREDIT

Oct-20 GJ3 300

Interest expense 512

DATE ITEM F DEBIT DATE ITEM F CREDIT

3-Oct GJ1 300

17 GJ3 60
360
 Purchases 501
DATE ITEM F DEBIT DATE ITEM F CREDIT

4-Oct 150,000
15 80,000
230,000

Purchase Discount 502

DATE ITEM F DEBIT DATE ITEM F CREDIT

14-Oct GJ 3 2,700

Purchase Returns and Allowances 503

DATE ITEM F DEBIT DATE ITEM F CREDIT

6-Oct GJ 1 15,000

Input Tax 504

DATE ITEM F DEBIT DATE ITEM F CREDIT

1-Oct GJ 1 4,800 6-Oct GJ 1 1,800

2 GJ 1 1,440 7 GJ 2 214
 4 GJ 1 18,000 11 GJ2 92
4 GJ 1 780 14 GJ3 324
8 GJ2 268
15 GJ3 9,600
34,888 2,430
32,458

Output tax 505

DATE ITEM F DEBIT DATE ITEM F CREDIT

12-Oct GJ 2 2,880 5-Oct GJ 1 7,200

18 GJ3 288 8 GJ2 17,280
13 GJ3 18,000
3,168 42,480
39,312

Freight in 506
DATE ITEM F DEBIT DATE ITEM F CREDIT

4-Oct GJ 1 6,500

Freight out 507

DATE ITEM F DEBIT DATE ITEM F CREDIT

8-Oct GJ 2 2,232
 Salaries Expense 508
DATE ITEM F DEBIT DATE ITEM F CREDIT

30-Oct GJ4 140,000

SSS Premiums Expense 509

DATE ITEM F DEBIT DATE ITEM F CREDIT

31-Oct GJ 4 11,900

Philhealth Premiums Expense 510

DATE ITEM F DEBIT DATE ITEM F CREDIT

31-Oct GJ4 2,800

Pag - Ibig Contributions Expense 511

DATE ITEM F DEBIT DATE ITEM F CREDIT

31-Oct GJ 4 2,800
 PURCHASE JOURNAL
DATE PURCHASED FROM PURCHASE CREDIT PURCHASES
INVOICE # TERMS
DEBIT
3-May Subic 422 2/10, n/30 12,000

SALES JOURNAL
DATE SOLD TO INVOICE # CREDIT ACCOUNTS
TERMS RECEIVBLE
DEBIT
8-May RUSTAN 510 1/10, n/30 11,760
16-May ROBINSON'S N/30 8,960

20,720
 GENERAL JOURNAL
DATE PARTICULARS F DEBIT CREDIT
1-May Cash in Bank 102 200,000
Cash on Hand 101 50,000
Merchandise Inventory 104 50,000
Concepcion, Capital 301 300,000
Owner's Investment

2 Prepaid Rent 106 18,000

Cash in Bank 102 18,000
Advance payment for two month's rent

5 Store Supplies (1,792 / 1.12) 105 1,600

Input Tax (1,600 * .12) 207 192
Accounts Payable 201 1,792
1/10, n/30
 PURCHASE JOURNAL
DATE PURCHASED FROM INVOICE # F MERCHANDISE
INVENTORY
DEBIT

1-Oct Centro Co.

SALES JOURNAL
DATE PURCHASED FROM INVOICE # F ACCOUNTS
RECEIVABLE
DEBIT
 GENERAL JOURNAL
DATE PARTICULARS DEBIT
INPUT ACCOUNTS CASH
TAX PAYABLE PURCHASES
DEBIT CREDIT CREDIT
1,440 13,440

- - -

CASH OUTPUT
SALES SALES TAX
DEBIT CREDIT CREDIT
10,500 1,260
8,000 960

- 18,500 2,220
 ACCOUNTS PAYABLE SUBSIDIARY LEDGER
NAME: SUBIC
ADDRESS :

DATE EXPLANATION F DEBIT

3-May INV NO 422, 2/10, N/30
12 PAID SUBIC IN FULL 13,440

ACCOUNTS PAYABLE SUBSIDIARY LEDGER

NAME: JAMES INC.
ADDRESS :

DATE EXPLANATION F DEBIT

4-May INV NO 102, 2/10, N/30

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME: ROBINSON'S
ADDRESS :

DATE EXPLANATION F DEBIT

16-May

ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER

NAME: RUSTAN
ADDRESS :

DATE EXPLANATION F DEBIT

8-May INV NO 150, 1/10, N/30 11,760
18 RECEIVED CHECK FOR THE AMOUNT OWED
INPUT ACCOUNTS
TAX PAYABLE CASH
DEBIT CREDIT PURCHASES
CREDIT

CASH
SALES SALES OUTPUT COST OF SALES (DEBIT)
DEBIT CREDIT TAX MERCHANDISE INVENTORY ( CREDIT)
CREDIT
CREDIT
 CASH DISBURSEMENTS JOURNAL
DATE PAID TO EXPLANATION VOUCHER CASH
# ON HAND
CREDIT
2-May ROBINSON'S LANDHOLDINGS ADVANCE PAYMENT
BIR PAID FOR TAXES 1,200

12 SUBIC FULL PAYMENT OF ACCOUNT

15 GOODWILL FULL PAYMENT OF ACCOUNT

20 FREIGHT FORWARDERS ISSUED A CHECK

CASH RECEIPTS JOURNAL

DATE RECEIVED FROM EXPLANATION OR CASH
# ON HAND
DEBIT
15-May VARIOUS CASH SALES
18 RUSTAN COLLECTION
CREDIT BALANCE
13,440 13,440
-

CREDIT BALANCE
168,000 168,000

CREDIT BALANCE

CREDIT BALANCE
11,760
11,760 -
 CASH DISBURSEMENTS JOURNAL
DATE PAID TO EXPLANATION VOUCHER CASH
#
CREDIT

CASH RECEIPTS JOURNAL

DATE RECEIVED FROM EXPLANATION OR CASH
#
DEBIT
S JOURNAL
CASH PURCHASE ACCOUNTS CASH SUNDRY
IN BANK DISCOUNT PAYABLE PURCHASES ACCOUNT TITLE
CREDIT CREDIT F DEBIT DEBIT F DEBIT
18,000 PREPAID RENT 18,000
TAXES & LICENSES 1,200

13,171 240 13,440 INPUT TAX

1,792 STORE SUPPLIES

INPUT TAX
5,800

CASH SALES ACCOUNTS CASH SUNDRY

IN BANK DISCOUNT RECEIVABLE SALES ACCOUNT TITLE
DEBIT DEBIT F CREDIT CREDIT F DEBIT
35,840 32,000 OUTPUT TAX
11,642 105 11,760 OUTPUT TAX 13
S JOURNAL
PURCHASE ACCOUNTS CASH SUNDRY
DISCOUNT PAYABLE PURCHASES ACCOUNT TITLE
CREDIT F DEBIT DEBIT F DEBIT

SALES ACCOUNTS CASH SUNDRY

DISCOUNT RECEIVABLE SALES ACCOUNT TITLE
CREDIT F DEBIT DEBIT F DEBIT
CREDIT

29

16
2

CREDIT
3,840
CREDIT

CREDIT