Ifrs 15 Deloitte 8104d
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GENERAL JOURNAL Jan-17 1
Cash Land Building
P200,000 P500,000 P800,000 Papasa Ako, Capital To record initial investment.
3
Equipment
60,000 Cash To record purchase of equipment for cash
5
Office Supplies Cash
30,000 To record office supplies for cash
7
Merchandise Inventory 200,000 s Payable To record purchase on from Pray Muna Company
8
s Receivable Sales To record sales of merchandise to Tiwala Lang Company
200,000
Cost of Goods Sold Merchandise Inventory To record cost of merchandise sold
100,000
9
s Payable 50,000 Merchandise Inventory To record the returned merchandise purchased last January 7
10
Merchandise Inventory 10,000 Cash To record paid transportation cost on merchandise purchased
12
s Payable Merchandise Inventory Cash To record collection of payment from mechandise sold
14
Prepaid Insurance Cash
150,000
3,000
To record insurance bought good for 3 months 15
Cash
50,000 Notes Payable To record notes issued for borrowed cash
16
18
Sales Returns and Allowances 40,000 s Receivable To record return of merchandise from Tiwala Lang Company Merchandise Inventory Cost of goods sold
20,000
Freight Out Cash
10,000 To record payment of freight charges for merchandise sold
19
Cash Sales Discount s Receivable To record collections of sold merchandise on
20
Merchandise Inventory Cash To record purchases of merchandise for cash
21
Cash
156,800 3,200
50,000
100,000 Sales To record merchandise sold for cash
Cost of goods sold Merchandise Inventory
50,000
22
Notes Payable Cash
30,000
24
Salaries Expense Cash
10,000 To record payment of salaries to workers
25
Merchandise Inventory Cash
150,000
s Payable To record purchases for cash and balance on credit 26
s Payable Cash
50,000 To record payment of merchandise bought on
27
28
Cash 20,000 s Receivable 80,000 Sales To record merchandise sold for cash and balance on Cost of goods sold Merchandise Inventory
50,000
Cash
50,000 s Receivable To record collection of merchandise sold on
29
Advertising Expense Cash To record payment of advertising expense
5,000
29
Interest Expense Cash
5,000 To record payment of interest
30
Papasa Ako, Withdrawal Cash To record withdrawal of owner
20,000
Adjustments A1
Supplies Expense Office Supplies
20,000
A2
Depreciation Expense - Building Accumulated Depreciation - Building
5,000
A3
Depreciation Expense - Equipment
1,000
Accumulated Depreciation - Equipment
A4
Insurance Expense Prepaid Insurance
A5
Salaries Expense Salaries Payable
A6
Bad Debts Expense Allowance for Bad Debts
1,000
10,000
7,136
P1,500,000
60,000
30,000
200,000
ny
200,000
100,000
50,000
uary 7
10,000
hased
4,500 145,500
3,000
50,000
40,000
pany
20,000
10,000
old
160,000
50,000
100,000
50,000
30,000
10,000
50,000
100,000
50,000
100,000
ount
50,000
50,000
5,000
5,000
20,000
20,000
5,000
1,000
1,000
10,000
7,136
General Ledger
110 1 3 5 10 12 14 15 18 19 20 21 22 24 25 26 27 28 29
Cash
Debit P200,000
Credit
Balance P200,000
P60,000 30,000 10,000 145,500 3,000 50,000 10,000 156,800 50,000 100,000 30,000 10,000 50,000 50,000 20,000 50,000 5,000 5,000 20,000
30
120 8 16 19 27 28
s Receivable
125 31
Allowance for Bad Debts
Debit P200,000
Credit
98,300
Balance P200,000
P40,000 160,000 80,000
Debit
50,000
30,000
Credit 7,136
Balance 7,136
130 7 8 9 10 12 16 20 21 25 27
Merchandise Inventory
140 5
Office Supplies
Debit P200,000
Credit 100,000 50,000
10,000 4,500 20,000 50,000 50,000 150,000 50,000
Debit P30,000
Credit 20,000
150 14 31
Balance P200,000
Prepaid Insurance
Debit P3,000
Credit
175,500
Balance P30,000 10,000
Balance P3,000 1,000 2,000
160 1
Land
Debit P500,000
Credit
Balance P500,000
170 1
Building
Debit P800,000
Credit
Balance P800,000
175 31
Accumulated Depreciation - Building
Credit 5,000
Balance 5,000
Debit
180 3
Equipment
Debit P60,000
185 Accumulated Depreciation - Equipment
210 7 9 12 25 26
s Payable
220 15
Notes Payable
Debit
Debit
Credit
Balance P60,000
Credit 1,000
Balance 1,000
Credit P200,000
Balance P200,000
P50,000 150,000 100,000 50,000
Debit
50,000
Credit P50,000
Balance P50,000
30,000
230 31
Salaries Payable
310 1
Papasa Ako, Capital
320 30
Papasa Ako, Withdrawals
Debit
Debit
Debit P20,000
20,000
Credit 10,000
Balance 10,000
Credit P1,500,000
Balance P1,500,000
Credit
Balance P20,000
330
Income Summary
410 8 21 27
Sales
420 16
Sales Returns and Allowances
430
Sales Discounts
Debit
Debit
Credit
Balance
Credit P200,000 100,000 100,000
Balance
400,000
Debit P40,000
Credit
Balance P40,000
Debit
Credit
Balance
19
P3,200
510 7
Purchases
520 9
Purchase Returns and Allowances
530 12
Purchase Discounts
Debit
P3,200
Credit
Balance
Debit
Credit
Balance
Debit
Credit
Balance
540 10
Freight In
610 24 31
Salaries Expense
620
Supplies Expense
Debit
Credit
Balance
Debit P10,000 10,000
Credit
Balance P10,000 20,000
Debit 20,000
Credit
Balance 20,000
630 31
Insurance Expense
Debit 1,000
Credit
Balance 1,000
640 31
Depreciation Expense - Building
Debit 5,000
Credit
Balance
650 31
Depreciation Expense - Equipment
Debit 1,000
Credit
Balance
660 18
Freight Out
Debit P10,000
Credit
Balance P10,000
670 29
Advertising Expense
Debit P5,000
Credit
Balance P5,000
680 29
Interest Expense
Debit 5,000
Credit
Balance 5000
690 31
Bad Debts Expense
Debit 7,136
Credit
Balance 7,136
700 8 16 21 27
Cost of Goods Sold
Debit P100,000
Credit
Balance P100,000
20,000 50,000 50,000
180,000
# 110 120 125 130 140 150 160 170 175 180 185 210 220 230 310 320 330 410 420 430 610 620 630 640 650 660 670 680 690 700
Cash s Receivable Allowance for Bad Debts Merchandise Inventory Office Supplies Prepaid Insurance Land Building Accumulated Depreciation – Building Equipment Accumulated Depreciation – Equipment s Payable Notes Payable Salaries Payable Papasa Ako, Capital Papasa Ako, Withdrawals Income Summary Sales Sales Returns and Allowances Sales Discounts Salaries Expense Supplies Expense Insurance Expense Depreciation Expense – Building Depreciation Expense – Equipment Freight Out Advertising Expense Interest Expense Bad Debts Expense Cost of Goods Sold NET INCOME
Unadjusted Trial Balance 98,300.00 30,000.00 175,500.00 30,000.00 3,000.00 500,000.00 800,000.00 60,000.00 50,000.00 20,000.00 1,500,000.00 20,000.00 400,000.00 40,000.00 3,200.00 10,000.00
10,000.00 5,000.00 5,000.00 180,000.00 1,970,000
1,970,000
Papasa Ako Company Worksheet For the month ended, January 31, 2017 Adjusments
Adjusted Trial Balance 98,300.00 30,000.00 7,136 20,000 1,000
Income Statement
7,136.00 175,500.00 10,000.00 2,000.00 500,000.00 800,000.00
5,000
5,000.00 60,000.00
1,000
1,000.00 50,000.00 20,000.00 10,000.00 1,500,000.00
10,000 20,000.00
400,000.00
10,000 20,000 1,000 5,000 1,000
7,136 44136
44136
40,000.00 3,200.00 20,000.00 20,000.00 1,000.00 5,000.00 1,000.00 10,000.00 5,000.00 5,000.00 7,136.00 180,000.00 1,993,136.00
1,993,136.00
40,000.00 3,200.00 20,000.00 20,000.00 1,000.00 5,000.00 1,000.00 10,000.00 5,000.00 5,000.00 7,136.00 180,000.00 297,336.00 102,664.00 400,000.00
Income Statement
Balance Sheet 98,300.00 30,000.00 7,136.00 175,500.00 10,000.00 2,000.00 500,000.00 800,000.00 5,000.00 60,000.00 1,000.00 50,000.00 20,000.00 10,000.00 1,500,000.00 20,000.00 400,000.00
400,000.00
1,695,800.00
400,000.00
1,695,800.00
1,593,136.00 102,664.00 1,695,800.00
Cash Land Building
P200,000 P500,000 P800,000 Papasa Ako, Capital To record initial investment.
3
Equipment
60,000 Cash To record purchase of equipment for cash
5
Office Supplies Cash
30,000 To record office supplies for cash
7
Merchandise Inventory 200,000 s Payable To record purchase on from Pray Muna Company
8
s Receivable Sales To record sales of merchandise to Tiwala Lang Company
200,000
Cost of Goods Sold Merchandise Inventory To record cost of merchandise sold
100,000
9
s Payable 50,000 Merchandise Inventory To record the returned merchandise purchased last January 7
10
Merchandise Inventory 10,000 Cash To record paid transportation cost on merchandise purchased
12
s Payable Merchandise Inventory Cash To record collection of payment from mechandise sold
14
Prepaid Insurance Cash
150,000
3,000
To record insurance bought good for 3 months 15
Cash
50,000 Notes Payable To record notes issued for borrowed cash
16
18
Sales Returns and Allowances 40,000 s Receivable To record return of merchandise from Tiwala Lang Company Merchandise Inventory Cost of goods sold
20,000
Freight Out Cash
10,000 To record payment of freight charges for merchandise sold
19
Cash Sales Discount s Receivable To record collections of sold merchandise on
20
Merchandise Inventory Cash To record purchases of merchandise for cash
21
Cash
156,800 3,200
50,000
100,000 Sales To record merchandise sold for cash
Cost of goods sold Merchandise Inventory
50,000
22
Notes Payable Cash
30,000
24
Salaries Expense Cash
10,000 To record payment of salaries to workers
25
Merchandise Inventory Cash
150,000
s Payable To record purchases for cash and balance on credit 26
s Payable Cash
50,000 To record payment of merchandise bought on
27
28
Cash 20,000 s Receivable 80,000 Sales To record merchandise sold for cash and balance on Cost of goods sold Merchandise Inventory
50,000
Cash
50,000 s Receivable To record collection of merchandise sold on
29
Advertising Expense Cash To record payment of advertising expense
5,000
29
Interest Expense Cash
5,000 To record payment of interest
30
Papasa Ako, Withdrawal Cash To record withdrawal of owner
20,000
Adjustments A1
Supplies Expense Office Supplies
20,000
A2
Depreciation Expense - Building Accumulated Depreciation - Building
5,000
A3
Depreciation Expense - Equipment
1,000
Accumulated Depreciation - Equipment
A4
Insurance Expense Prepaid Insurance
A5
Salaries Expense Salaries Payable
A6
Bad Debts Expense Allowance for Bad Debts
1,000
10,000
7,136
P1,500,000
60,000
30,000
200,000
ny
200,000
100,000
50,000
uary 7
10,000
hased
4,500 145,500
3,000
50,000
40,000
pany
20,000
10,000
old
160,000
50,000
100,000
50,000
30,000
10,000
50,000
100,000
50,000
100,000
ount
50,000
50,000
5,000
5,000
20,000
20,000
5,000
1,000
1,000
10,000
7,136
General Ledger
110 1 3 5 10 12 14 15 18 19 20 21 22 24 25 26 27 28 29
Cash
Debit P200,000
Credit
Balance P200,000
P60,000 30,000 10,000 145,500 3,000 50,000 10,000 156,800 50,000 100,000 30,000 10,000 50,000 50,000 20,000 50,000 5,000 5,000 20,000
30
120 8 16 19 27 28
s Receivable
125 31
Allowance for Bad Debts
Debit P200,000
Credit
98,300
Balance P200,000
P40,000 160,000 80,000
Debit
50,000
30,000
Credit 7,136
Balance 7,136
130 7 8 9 10 12 16 20 21 25 27
Merchandise Inventory
140 5
Office Supplies
Debit P200,000
Credit 100,000 50,000
10,000 4,500 20,000 50,000 50,000 150,000 50,000
Debit P30,000
Credit 20,000
150 14 31
Balance P200,000
Prepaid Insurance
Debit P3,000
Credit
175,500
Balance P30,000 10,000
Balance P3,000 1,000 2,000
160 1
Land
Debit P500,000
Credit
Balance P500,000
170 1
Building
Debit P800,000
Credit
Balance P800,000
175 31
Accumulated Depreciation - Building
Credit 5,000
Balance 5,000
Debit
180 3
Equipment
Debit P60,000
185 Accumulated Depreciation - Equipment
210 7 9 12 25 26
s Payable
220 15
Notes Payable
Debit
Debit
Credit
Balance P60,000
Credit 1,000
Balance 1,000
Credit P200,000
Balance P200,000
P50,000 150,000 100,000 50,000
Debit
50,000
Credit P50,000
Balance P50,000
30,000
230 31
Salaries Payable
310 1
Papasa Ako, Capital
320 30
Papasa Ako, Withdrawals
Debit
Debit
Debit P20,000
20,000
Credit 10,000
Balance 10,000
Credit P1,500,000
Balance P1,500,000
Credit
Balance P20,000
330
Income Summary
410 8 21 27
Sales
420 16
Sales Returns and Allowances
430
Sales Discounts
Debit
Debit
Credit
Balance
Credit P200,000 100,000 100,000
Balance
400,000
Debit P40,000
Credit
Balance P40,000
Debit
Credit
Balance
19
P3,200
510 7
Purchases
520 9
Purchase Returns and Allowances
530 12
Purchase Discounts
Debit
P3,200
Credit
Balance
Debit
Credit
Balance
Debit
Credit
Balance
540 10
Freight In
610 24 31
Salaries Expense
620
Supplies Expense
Debit
Credit
Balance
Debit P10,000 10,000
Credit
Balance P10,000 20,000
Debit 20,000
Credit
Balance 20,000
630 31
Insurance Expense
Debit 1,000
Credit
Balance 1,000
640 31
Depreciation Expense - Building
Debit 5,000
Credit
Balance
650 31
Depreciation Expense - Equipment
Debit 1,000
Credit
Balance
660 18
Freight Out
Debit P10,000
Credit
Balance P10,000
670 29
Advertising Expense
Debit P5,000
Credit
Balance P5,000
680 29
Interest Expense
Debit 5,000
Credit
Balance 5000
690 31
Bad Debts Expense
Debit 7,136
Credit
Balance 7,136
700 8 16 21 27
Cost of Goods Sold
Debit P100,000
Credit
Balance P100,000
20,000 50,000 50,000
180,000
# 110 120 125 130 140 150 160 170 175 180 185 210 220 230 310 320 330 410 420 430 610 620 630 640 650 660 670 680 690 700
Cash s Receivable Allowance for Bad Debts Merchandise Inventory Office Supplies Prepaid Insurance Land Building Accumulated Depreciation – Building Equipment Accumulated Depreciation – Equipment s Payable Notes Payable Salaries Payable Papasa Ako, Capital Papasa Ako, Withdrawals Income Summary Sales Sales Returns and Allowances Sales Discounts Salaries Expense Supplies Expense Insurance Expense Depreciation Expense – Building Depreciation Expense – Equipment Freight Out Advertising Expense Interest Expense Bad Debts Expense Cost of Goods Sold NET INCOME
Unadjusted Trial Balance 98,300.00 30,000.00 175,500.00 30,000.00 3,000.00 500,000.00 800,000.00 60,000.00 50,000.00 20,000.00 1,500,000.00 20,000.00 400,000.00 40,000.00 3,200.00 10,000.00
10,000.00 5,000.00 5,000.00 180,000.00 1,970,000
1,970,000
Papasa Ako Company Worksheet For the month ended, January 31, 2017 Adjusments
Adjusted Trial Balance 98,300.00 30,000.00 7,136 20,000 1,000
Income Statement
7,136.00 175,500.00 10,000.00 2,000.00 500,000.00 800,000.00
5,000
5,000.00 60,000.00
1,000
1,000.00 50,000.00 20,000.00 10,000.00 1,500,000.00
10,000 20,000.00
400,000.00
10,000 20,000 1,000 5,000 1,000
7,136 44136
44136
40,000.00 3,200.00 20,000.00 20,000.00 1,000.00 5,000.00 1,000.00 10,000.00 5,000.00 5,000.00 7,136.00 180,000.00 1,993,136.00
1,993,136.00
40,000.00 3,200.00 20,000.00 20,000.00 1,000.00 5,000.00 1,000.00 10,000.00 5,000.00 5,000.00 7,136.00 180,000.00 297,336.00 102,664.00 400,000.00
Income Statement
Balance Sheet 98,300.00 30,000.00 7,136.00 175,500.00 10,000.00 2,000.00 500,000.00 800,000.00 5,000.00 60,000.00 1,000.00 50,000.00 20,000.00 10,000.00 1,500,000.00 20,000.00 400,000.00
400,000.00
1,695,800.00
400,000.00
1,695,800.00
1,593,136.00 102,664.00 1,695,800.00
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