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Last September 1, 2012 Michellie Gregorio opened a new merchandising business called Little Angel.

Here are the transactions that took place on the first month of operation September 1 1. M, Gregorio started her business with the initial investment of Cash 857, 900 Accounts receivable 78, 500 Allowance for bad debts 2, 355 Pre-paid insurance 7, 600 Notes receivable 50, 000 Interest receivable 235. 54 Supplies 16, 200 Furniture and Fixtures 35, 000 Accumulated depreciation furniture and fixtures 233. 32 Equipment 350, 500 Accumulated depreciation equipment 4, 591. 68 Account payables 36, 500 Notes payables 50, 500 Salaries payables 15, 000 Utilities payables 6, 000 Interest payables 131. 82 Rent payables 10, 000 M. Gregorio, Capital 1, 270, 623. 72 2. Made an additional investment of 700, 000 and 100, 000 merchandise 3. Paid rent in advance for 8 months 30, 000 4. Bought furniture and shelves from CDC modern fixtures on credit 30, 000 5. Purchased goods from Fendi 35, 000 3/10, 2/20, n/3o a. FOB shipping point, freight prepaid 1, 000 September 2 6. Purchased goods from Fantasia Taylor Shop 20, 000 5 2/10, n/45 7. Purchased goods from Nestle Corporation 25, 000 10 and 5 n/60 8. Purchased goods from Toy World 24, 000 10 7/5, n/30 9. Sold goods to Mark Angeles 3, 000 in cash 10.Sold goods to Lisa Benett 2, 500 in cash September 3 11.Sold goods to Sarah Dessen 8, 000 2/5, n/50 12.Sold goods to Marc Angelo Balba 22, 000 2 2/10, n/45 13.Returned purchased goods to Fendi 8, 000 14.Paid Fendi in half 15.Sold goods to Amelia Bones 2, 800 in cash September 4 16.Sold goods to Janica Javier 10, 000 3/5, 2/10, n/40 17.Sold goods to Janelle John 12, 000 3/5, 2/10, n/60 18.Sold goods to Jolie Mckinley 4, 000 in cash 19.Sold goods to Melvin San Jose 3, 000 in cash 20.Received returns from Angelo Balba 2, 000 September 5 21.Collected full payment from Sarah Dessen 22.Received returns from Janelle John 500 23.Sold goods to Perla Endaya 12, 000 2 and 3/10, n/30 24.Sold goods to Erick Manalo 13, 000- 5 and 2/5, n/45 25.Sold goods to Mellie Santos 4, 000 September 6 26.Collected 6, 500 payment from Janelle John

27.Purchased goods from Fantasia Taylor Shop 12, 000 in cash 28.Collected full payment from Erick Manalo 29.Paid 10, 000 for the helpers wages 30.Collected 15, 000 from Angelo Balba September 7 31.Bought computer from Epson Corporation 25, 000 32.Paid 20, 000 to CDC modern fixtures 33.Sold goods to Riza Punzalan 1, 500 in cash 34.Paid the following payables: A. Account payables - Dermachine Corp. B. Notes Payables - Xavier Med C. Interest payables D. Salaries Payable E. Utilities Payable F. Rent Payable 35.Sold goods to Vina Scott 8, 000- 3 and 2/5, n/30 September 8 36.Purchased goods from Little Things Clothesline 50, 000 2 2/10, n/100 37.Purchased goods from Fendi 30, 000 5 and 2 n/45 38.Sold goods to Dave Villaroel 15, 000 6 2/10, n/20 39.Sold goods to Sarah Dessen 25, 000 2/10, n/45 40.Sold goods to Angelo Balba 26, 000 3 n/60 September 9 41.Paid 20, 000 to Little Things Clothesline 42.Sold goods to Annika Cheu 2, 000 in cash 43.Sold goods to Liza Scott 3, 000 in cash 44.Sold goods to Elizabeth Cullen 5, 000 in cash 45.Sold goods to Isabel Swan 3, 000 in cash September 10 46.Collected full payment from Vina Scott 47.Paid Fantasia Taylor Shop in full 48. Purchased goods from Fantasia Taylor Shop 70, 000 20 10/10, n/60 49.Purchased goods from Baby things 45, 000 10 5/10, 3/20, n/60 collect 700 50.Sold goods to Janica Javier 27, 000- 4, n/60 September 11 51.Paid the full payment to CDC modern fixtures 52.Paid half payment to Fantasia Taylor Shop 53.Returned purchased goods to Baby things 5, 000 54.Collected half payment from Janica Javier 55.Sold goods to Janelle John 14, 000 3/5, 2/10, n.40 September 12 56.Collected full payment from Janica Javier 57.Paid Nestle Corporation in full 58.Withdraw 3, 000 for personal use 59.Bought office supplies 3, 000 60.Sold goods to Perla Endaya 26, 000 2/10, n/40 September 13 61.Collected payment from Dave Villaroel 62.Sold goods to Lyka Bautista 4, 000 in cash 63.Purchased goods from Toy World 40, 000 5 and 3 10/5, 5/20, n/60 64.Sold goods to Erick Manalo 30, 000 3 and 2 5/10, 3/15, n/40 65.Sold goods to Arnold Sy 5, 000 in cash

September 14 66.Purchased good from Nestle Corporation 27, 000 5 5/5, 3/10, n/40 67.Sold goods to Lisa Mary 2, 500 in cash 68.Sold goods to Nina Reyes 7, 000 in cash 69.Sold goods to Vina Scott 10, 000 2 3/5, 2/15, n/30 70.Purchased goods from Kiddo Company 20, 000 3 10/5, 5/10, 3/20, n/30 September 15 71.Returned purchased goods to Nestle Corporation 4, 000 72.Paid 30, 000 to Toy World 73.Paid Fendi in full 74.Sold goods to Dave Villaroel 75.Sold goods to Ziara Kane 7, 000 in cash September 16 76.Paid Nestle Corporation in full 77.Paid Kiddo Company 10, 000 78.Sold goods to Jane Auden 5, 000 in cash 79.Sold goods to Sarah Dessen 12, 000 15 5/10, 2/15, n/30 80.Collected full payment from Angelo Balba September 17 81.Paid Baby Things in full 82.Collected full payment from Perla Endaya 83.Sold goods to Gina Ong 2, 900 in cash 84.Purchased goods from Fendi 25, 000 5 2/10, n/40 85.Sold goods to Edilberto Hosea 7, 000 in cash September 18 86.Sold goods to Angelo Balba 10, 000 7/5, 2/10, n/30 87.Sold goods to Janica Javier 14, 000- 5 and n/30 88.Paid telephone bill 2, 000 89.Collect payment from Sarah Dessen 90.Sold goods to Riza Bolz 4, 000 in cash September 19 91.Collected 10, 000 from Mrs. Sarah Dessen 92.Collected full payment from Mrs. Janelle John 93.Paid full payment to Toy World 94.Bought office supplies 500 95.Paid Kiddo Company in full September 20 96.Purchased goods from Fantasia Taylor Shop 29, 000 15 2/5, n/30 97.Sold goods to Angelo Balba 17, 000 5 3/5, n/30 98.Sold goods to Alex Blue 4, 000 in cash 99.Sold goods to Joanna Esquivel 3, 500 in cash 100. Paid Fantasia Taylor Shop in full September 101. 102. 103. 21 Collected payment from Angelo Balba Paid Fantasia Taylor Shop in full Collected the following: A. Accounts receivables- Mark Verso B. Notes receivables- Anabelle Chase C. Interest receivesd Sold goods to Melissa Arquel 2, 500 in cash Sold goods to Janica Javier 15, 000 2 3/5, 2/10, n/30

104. 105.

September 22

106. 107. 108. 109. 110. September 111. 112. 113. 114. 115. September 116. 117. 118. 119. 120. September 121. 122. 123. 124. 125. September 126. 127. 128. 129. 130. September 131. 132. 133. 134. 135.

Purchased goods from Kiddo Company 25, 000 5 7/10, 3/20. n/60 Sold goods to Larrence Vispo 12, 000 in cash Sold goods to Janelle John 24, 000 5 5/0, 3/15, n/60 Sold goods to Perla Endaya 15, 000 3/10, n/40 Purchased goods from Toy World 20, 000 5 and 3 3/10, 2/15, n/30 23 Sold goods to Mary Jenkins 4, 000 in cash Sold goods to Dave Villaroel 27, 000 5 n/30 Paid Toy World in full Purchased goods from Nestle Corporation 25, 000 10 n/30 Sold goods to Roy Abuego 4, 000 in cash 24 Withdraw 4, 000 for personal use Paid insurance in advance for 8 months 20, 000 Collected 10, 000 from Dave Villaroel Sold goods to Eugene Jacoby 4, 000 in cash Paid Fendi 15, 000 25 Collected payment from Vina Scott Paid electric bill 1, 200 Collected payment from Perla Endaya Sold goods to Amelia Lin 10, 000 in cash Paid Nestle Corporation in full 26 Paid Fendi in full Collected payment from Angelo Balba Sold goods to Janica Javier 14, 000 2 5/5, 3/15, n/25 Sold goods to Alejandro Estet 7, 000 in cash Sold goods to Janelle John 17, 000 5 n/40 27 Collected full payment from Perla Endaya Paid water bill 700 Collected half payment from Janica Javier Sold goods to Dave VIllaroel 12, 500 2 n/40 Sold goods to Carla David 4, 000 in cash

September 28 136. Sold goods to Sarah Dessen 4, 000 in cash 137. Purchased goods from Fantasia Taylor Shop 20, 000 5 7/5, 3/10, n/30 138. Sold goods to Percy Potter 9, 000 in cash 139. Collected full payment from Janelle John 140. Collected payment from Dave Villaroel September 141. 142. 143. 144. 145. September 146. 147. 148. 149. 29 Paid Kiddo Company in full Returned purchased goods to Fantasia Taylor Shop 2, 000 Collected full payment from Janica Javier Sold goods to Zane Gregorio 5, 000 in cash Sold goods to Angelo Balba 15, 000 5 n/30 30 Sold goods to Penelope Auden 4, 000 in cash Collected full payment from Dave Villaroel Paid Fantasia Taylor Shop in full Sold goods to Taylor Hatley 13, 500 in cash

150.

Paid salaries 20, 000

To adjust the trial balance of Ms. Gs Little Angel using the four months ending December 31, 2012: a. The accounts receivables have an estimated bad debts of 5% per annum b. The accounts receivables have an interest rate of 10% per annum c. Pre-paid rent represent 8 months starting September 1, 2012 d. Pre-paid insurance represents 8 months starting September 1, 2012 e. 40% of supplies still on hand f. Depreciation (see schedule) g. Accounts payable has an interest rate of 10% per annum h. The following still unpaid: Salaries 10, 000 and Utilities 2, 500 i. Merchandise inventory ending

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