ABC TRADING CORPORATION
GENERAL JOURNAL
Page 1
DATE
PARTICULARS PR DEBIT CREDIT
2020
ABC TRADING CORPORATION
GENERAL JOURNAL
Page 2
DATE
PARTICULARS PR DEBIT CREDIT
2020
ABC TRADING CORPORATION
GENERAL JOURNAL
Page 3
DATE
PARTICULARS PR DEBIT CREDIT
2020
ABC TRADING CORPORATION
SALES JOURNAL
PAGE 1
ACCOUNTS
DATE INVOICE ACCOUNTS SALES OUTPUT VAT
PR RECEIVABLE
NO. DEBITED
2020 credit credit debit
TOTAL ___________ ___________ ___________
( ) ( ) ( )
ABC TRADING CORPORATION
CASH RECEIPTS JOURNAL
Page 1
ACCOUNTS OUTPUT SALES
DATE OR INVOICE P SALES DISCOUNT CASH
ACCOUNTS CREDITED RECEIVABLE VAT
NO. NO. R
2020 credit credit credit debit debit
TOTAL _________ _________ _________ _________ _________
( ) ( ) ( ) ( ) ( )
ABC TRADING CORPORATION
PURCHASE JOURNAL
PAGE 1
PURCHASE ACCOUNTS
DATE INVOICE INPUT VAT
ACCOUNTS CREDITED PR S PAYABLE
NO.
2020 debit debit credit
TOTAL _________ _________ _________
( ) ( ) ( )
ABC TRADING CORPORATION
CASH DISBURSEMENT JOURNAL
Page 1
SSS,
PH,
Pag- Withh
ACCOU PURC
IBIG olding
Salaries NTS HASE
DATE CHECK SUNDRY Contri Tax Cash
CHECK Expense PAYAB DISCO
VOUCHE ACCOUNTS DEBITED PR butio Payabl
R NO. NO. LE UNT
n e
Payab
le
debit/ debit/
2020 debit/ (credit) debit debit credit credit
(credit) (credit)
_________ _____ _____
Total
_ _ _____ ______ ______ _ ______
( ) ( ) ( ) ( ) ( ) ( ) ( )
ABC TRADING CORPORATION
GENERAL LEDGER
Account: CASH 111 Account: ACCOUNTS RECEIVABLE 113
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
P
Account: MERCHANDISE INVENTORY 115 Account: INPUT VAT 118
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: STORE EQUIPMENT 121 Account: ACCUMULATED DEPRECIATION-STORE 121A
Date Item PR Debit Credit Balance EQUIPMENT
Date Item PR Debit Credit Balance
Account: OFFICE EQUIPMENT 122 Account: ACCUMULATED DEPRECIATION-OFFICE EQUIPMENT 122A
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: ACCOUNTS PAYABLE 211 Account: WITHHOLDING TAX PAYABLE 212
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: EXPANDED WITHHOLD TAX PAYABLE 213 Account: SSS, PHILHEALTH AND PAG-IBIG CONTRI PAYABLE 214
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: UTILITIES PAYABLE 215 Account: OUTPUT VAT 218
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: CASH DIVIDEND PAYABLE 219 Account: ORDINARY SHARE CAPITAL, P100 PAR 311
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: RETAINED EARNINGS 312 Account: INCOME SUMMARY 313
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: SALES 411 Account: SALES RETURNS AND ALLOWANCES 412
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: SALES DISCOUNT 413 Account: PURCHASES 511
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: PURCHASE RETURNS AND ALLOWANCES 512 Account: PURCHASE DISCOUNT 513
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: PURCHASE RETURNS AND ALLOWANCES 512 Account: PURCHASE DISCOUNT 513
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: SALARIES EXPENSE 522 Account: SSS, PHILHEALTH AND PAG-IBIG CONTRIBUTIONS 523
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: RENT EXPENSE 531 Account: UTILITIES EXPENSE 532
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: SUPPLIES EXPENSE 533 Account: TRANSPORTATION EXPENSE 534
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: DEPRECIATION EXPENSE-STORE 541 Account: DEPRECIATION EXPENSE-OFFICE EQUIPMENT 542
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: MISCELLANEOUS EXPENSE 111 Account: INCOME TAX EXPENSE 561
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
ABC TRADING CORPORATION
ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER
Account: LIGHT CO. Account: SUNSET CO.
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: TWINKLE CORP. Account: SUNSHINE CO.
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Aug 30 On account SJ 25,000 25,000
Account: EMCORE COMPANY Account: FONDER CORP.
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
ABC TRADING CORPORATION
ACCOUNTS PAYABLE SUBSIDIARY LEDGER
Account: CBA CO. Account: FED CO.
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Account: IHG CO. Account: UST CO.
Date Item PR Debit Credit Balance Date Item PR Debit Credit Balance
Aug 30 On account PJ 30,000 30,000
Account: ZYX CO.
Date Item PR Debit Credit Balance
ABC TRADING CORPORATION
WORKSHEET
For the month ended September 30, 2020
TRIAL BALANCE ADJUSTMENTS STATEMENT OF STATEMENT OF
ACCOUNT TITLES
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
ABC TRADING CORPORATION
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED SEPTEMBER 30, 2020
Sales ₱___________
Sales Returns and Allowances ___________
Sales Discounts ___________
Net Sales ₱___________
Purchases ₱___________
Purchases Returns and Allowances ___________
Purchases Discounts ___________
Net Purchases ₱___________
Merchandise Inventory, Beg. ___________
Merchandise Inventory, End ___________
Cost of Goods Sold ___________
Gross Profit ₱___________
Salaries Expense ₱___________
SSS, PhilHealth, and Pag-IBIG
___________
Contributions
Rent Expense ___________
Utilities Expense ___________
Supplies Expense ___________
Transportation Expense ___________
Depreciation Expense - Store
___________
Equipment
Depreciation Expense - Office
___________
Equipment
Total Expenses ___________
NET INCOME (LOSS) ₱___________
ABC TRADING CORPORATION
STATEMENT OF FINANCIAL POSITION
SEPTEMBER 30, 2020
ASSETS
Cash ₱___________
Accounts Receivable ___________
Merchandise Inventory ___________
TOTAL CURRENT ASSETS ₱___________
Store Equipment ₱___________
Accumulated Depreciation-Store Equipment ___________ ₱___________
Office Equipment ₱___________
Accumulated Depreciation-Office Equipment ___________ ___________
TOTAL NONCURRENT ASSETS ___________
TOTAL ASSETS ₱___________
LIABILITIES
Accounts Payable ₱___________
Withholding Taxes Payable ___________
Expanded Withholding Taxes Payable ___________
SSS, PhilHealth, Pag-IBIG Contribution ___________
Payable
Output VAT ___________
Utilities Payable ___________
Cash Dividends Payable ___________
TOTAL LIABILITIES ₱___________
SHAREHOLDERS’ EQUITY
Ordinary Share Capital, P100 par ₱___________
Retained Earnings ___________
TOTAL SHAREHOLDERS’ EQUITY ___________
TOTAL LIABILIES AND SHAREHOLDERS’ ₱___________
EQUITY
ABC TRADING CORPORATION
STATEMENT OF CASH FLOWS
FOR THE MONTH ENDED SEPTEMBER 30, 2020
CASH IN ACTIVITIES
_____________________________________________________ ₱_______________
_____________________________________________________ ______________
TOTAL CASH IN ₱_______________
CASH OUT ACTIVITIES
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
_____________________________________________________ ______________
TOTAL CASH OUT ______________
Net Increase (Decrease) in Cash ₱_______________
Add: Cash Balance-September 1 ______________
Cash Balance-September 30 ₱_______________
ABC TRADING CORPORATION
Post-Closing Trial Balance
SEPTEMBER 30, 2020
ACCOUNT TITLES Debit Credit
