JOURNAL VOUCHER SUMMARY FOR AUGUST 2018

DATE JV# DM/CM AMOUNT EXPLANATION

8.03.18 08-001 006 7,500 1 defective printer returned by
Aquamarine Beach Resort per SI
no. 00017
8.10.18 08-002 007 5,000 Allowance granted to Strong Values
School for slightly damaged items
stated at list price. Per SI no. 00019

8.12.18 08-003 008 4,300 Returned to Zoro company various

defective items bought per RR No.
1007
8.20.18 08-004 none To set up the vat payable (VAT
Output less Vat Input is equal to
VAT payable) see note below
8.21.18 08-005 009 6,000 Returned two (2) defective printers
to Murato Enterprise per RR No.
1008
8.28.18 08-006 010 12,000 Received credit memo from Toyota
Company for the allowance granted
for slightly damaged Delivery Van
per RR no. 1010
ADDITIONAL DATA FOR ADJUSTMENT
1 The company's policy is to provide allowance for doubtful account equal to 3% of the o
2 Prepaid rent that has expired in August is P12,000.
3 Physical count of store supplies revealed a balance of P 20,078
4 Estimated life of the following assets:
Office Equipment 5 years depreciation starts in july
Furnitures & Fixtures 5 years depreciation starts in August
Delivery Van 10 years depreciation starts in August
5 Prepaid interest of P36,000 is for 1 year interest of the notes payable, only 1 month has
6 Accrued Expenses:
Light and water 6,700
Gasoline and Oil 15,800
Unpaid commission of salesmen 588,700
7 The owner withdraw P120,000 for personal use which was not recorded.
8 Physical count of merchandise revealed that a total of P355,200 goods were unsold.
ount equal to 3% of the outstanding A/R.

ayable, only 1 month has expired.

recorded.
0 goods were unsold.
SALES JOURNAL. AUGUST 2018

CUSTOMERS
DATE Inv. No. Terms
8.01.18 Aquamarine Beach Resort 00017 COD

8.03.18 Bright Senior High School 00018 2/10, n/30 FOB

destination
8.07.18 Strong Values School 00019 Less: 10%, 2/10, N/30
FOB SP
8.16.18 Cyberspace Outsourcing Co., 00020 Less: 15% COD FOB
destination
8.25.18 Opamin Accounting Office 00021 2/10, N/30, FOB SP.
8.27.18 Clarito and Tan Associates 00022 30% down payment bal
Accounting Firm 30 days
8.28.19 Ms. April Anne Mangubat 00023 COD

8.31.18 Walk-in customer 00024 COD

TOTAL
Debit Debit Credit Credit
CASH A/R Sales VAT Output
156,000 139,286 16,714

1,575,000 1,406,250 168,750

900,000 803,571 96,429

5,440,000 4,857,143 582,857

450,000 401,786 48,214

40,500 94,500 120,536 14,464

40,000 35,714 4,286

60,000 53,571 6,429

5,736,500 3,019,500 7,817,857 938,143

CASH RECEIPTS JOURNAL AUGUST
DATE PARTICULARS OR # CASH Sales Discount
DEBIT Debit

8.08.18 Bright Senior High School 12008 1,543,500 28,125

8.10.18 Leo Company 12009 325,000

8.17.18 Strong Values School 12010 877,590 15,991

8.20.18 Mr. Aqua 12011 500,000

8.21.18 Murato Enterprise 12012 6,000

8.23.18 Mangubat Auditing Firm 12013 68,400

8.28.18 UM Cooperative 12014 50,000

8.31.18 Sabado Bank 12015 264,000

TOTAL 3,634,490 44,116

Vat output A/R SUNDRIES
Debit Credit F Debit Credit

3,375 1,575,000

325,000

1,919 895,500

Aqua capital 500,000

Purchase Return & Allow 5,357

Vat Input 643

68,400

Customer deposit 50,000

Notes Payable 300,000

Prepaid Interest 36,000

5,294 2,863,900 36,000 856,000
PURCHASE JOURNAL. AUGUST 2018
DATE SUPPLIERS RR# TERMS

8.02.18 High Tech Company 1006 Less: 15% 3/10, n/45,

FOB SP
8.13.18 Zoro Company 1007 3/10; n/45 FOB dest.

8.19.18 Murato Enterprise 1008 COD FOB SP

8.22.18 High Tech Company 1009 3/10, n/45, FOB

destination
8.25.18 Toyota Company 1010 2/5, n/30 FOB SP

8.28.19 Paper Tree '1011 COD

TOTAL
 DEBITS CREDIT SUNDRIES
PURCHASES INPUT TAX ACCTS. PAYABLE ACCOUNT TITLE F
872,768 104,732 977,500

66,964 8,036 75,000

53,571 6,429 60,000

2,500,000 300,000 2,800,000

80,357 750,000 Delivery Van

2,711 25,300 Store Supplies

3,493,304 502,264 4,687,800

SUNDRIES
DEBIT CREDIT

669,643

22,589

692,232
CASH DIBURSEMENT JOURNAL AUGUST 2018
CREDITS
DATE PAYEE CV No. CK No. CASH Purch disc.

8.02.18 Aboitiz Shipping (VAT) 8-117 532117 6,600

8.03.18 Aquamarine Beach Resort 8-118 532118 7,500

8.03.18 Allied Cargo 8-119 532119 10,500

8.05.18 Davao Light and Power Co. 8-120 532120 5,115

Davao City Water district

8.07.18 8-121 532121 465
8.08.18 EWT Construction Co. 8-122 532122 38,000

8.09.18 BIR 8-124 532123 2,805

8.10.18 SSS/PHIC/HDMF 8-125 532124 1,520

8.12.18 High Tech Company 8-126 532125 948,175 26,183

8.15.18 Payroll Master 8-127 532126 18,500

8.16.18 Allied Cargo 8-129 532127 5,800

8.19.18 Murato Enterprise 8-130 532128 60,000

8.20.18 Zoro Company 8-131 532129 35,000

8.25.18 Aboitiz Shipping (VAT) 8-133 532130 10,000

8.28.18 Paper Tree (Vat) 8-134 532131 25,300

8.29.18 Toyota Company 8-135 532132 723,240

8.31.18 Payroll Master 8-136 532133 19,820

TOTAL 1,918,340 26,183

 DEBITS
A/P Freight In Freight Out Salaries Light & Water Sales Returns Input tax
Expense
5,893 707

6,696

10,500

4,755 360

385 80

977,500 (3,142)

18,500

5,800

60,000

35,000

1,071

25,300

738,000 (1,581)

21,000

1,835,800 5,893 16,300 39,500 5,140 6,696 (2,505)

 DEBIT Credit Debit Credit SUNDRIES
SSS/PHIC/HDMF payable w/holding tax payable Account Title F

Vat Output

Furnitures

2,805

620 SS/PHIC/HDMF contribution

Delivery Van

Delivery Van

680 100 Advances of Employees

620 680 2,805 100

SUNDRIES
Debit Credit

804

38,000

900

8,929

13,179

400

48,633 13,579
AQUARIUS COMPANY
GENERAL JOURNAL

DATE JV NO. PARTICULARS F

8.03.18 08-001 no entry (refer to CDJ CV#8-118 )

08.10.18 08-002 Sales Returns & allowances

Vat Output
A/R- Strong values School
Allowance for slightly damaged goods per SI No. 00019/ CM 007

08.12.08 08-003 A/P- Zoro Company

Purchase Returns and Allow
Vat Input
Returned defective MDSE to Zoro company per DM No. 008

08.20.18 08-004 Vat Output

Vat Input
Vat Payable
To set up VAT Payable

08.21.18 08-005 no entry (refer to CRJ)

(See CRJ OR # 12012 ) DM 009

08.28.18 08-006 A/P-Toyota Company

Delivery Van
Input Tax
Allowance for slightly damaged items DM 010

GENERAL JOURNAL ADJUSTING JOURNAL ENTRIES

DATE JV NO. PARTICULARS F

GENERAL JOURNAL CLOSING ENTRIES

DATE JV NO. PARTICULARS F

 PAGE 1

DEBIT CREDIT

4,018
482
4,500

4,300
3,839
461

1,338,382
976,583
361,799

12,000
10,714
1,286

PAGE 2

DEBIT CREDIT
 PAGE 3

DEBIT CREDIT
 CASH. (1)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 1,686,850 8.31.18 CDJ 1,918,340
8.31.18 SJ 5,736,500
8.31.18 CDJ 3,634,490

TOTAL 11,057,840
BAL. 9,139,500

ACCOUNTS RECEIVABLE. (2)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 393,400 8.31.18 CRJ 2,863,900
8.31.18 SJ 3,019,500 8.10.18 GJ1 4,500

TOTAL 3,412,900 2,868,400

BAL. 544,500

STORE SUPPLIES. (3)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 13,839
8.28.19 PJ 22,589

36,428

PREPAID RENT. (4)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 36,000
 ADVANCES OF EMPLOYEES (5)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 6,100 8.31.18 CDJ 400

BAL 5,700

OFFICE EQUIPMENT. (6)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 69,643

BAL. 69,643

RENT DEPOSIT (7)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 12,000

ACCOUNTS PAYABLE. (8)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.31.18 CDJ 1,835,800 8.01.18 beg 2,318,000
8.12.18 GJ 4,300 8.31.18 PJ 4,687,800
8.28.18 GJ 12,000
TOTAL 1,852,100

BAL 5,153,700

SSS/PJIC/HDMF PREMIUM PAYABLE. (9)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.10.18 CDJ 620 8.01.18 beg 620
8.31.18 CDJ

BAL 620

WITHHOLDING TAX PAYABLE. (10)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8,.10.18 CDJ 2805 8.01.18 beg 2,805
8.31.18 CDJ 100

BAL 100

CUSTOMERS DEPOSIT. (11)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 50,000
8.28.18 CRJ 50,000

BAL 100,000

AQUA CAPITAL. (12)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 500,000
8.20.18 CRJ 500,000
 BAL. 1,000,000

AQUA DRAWING. (13)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 4,300

BAL. 4300
 VAT INPUT (14)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 479,214 8.31.18 CDJ 2,505
8.31.18 PJ 502,264 8.12.18 GJ 461
8.28.18 GJ 1,286

TOTAL 981,478
BAL. 977,226

VAT OUTPUT (15)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.31.18 CRJ 5,294 8.01.18 beg 406,819
8.10.18 GJ 482 8.31.18 SJ 938,143

TOTAL
BAL 1,339,186

SALES (16)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 3,443,304
8.31.18 SJ 7,817,857

BAL 11261161

SALES DISCOUNT (17)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 54,214
8.31.18 CRJ 44,116
 BAL 98,330

SALES RETURNS & ALLOWANCES (18)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 12,500
8.31.18 CDJ 6,696
8.10.18 GJ 4,018

TOTAL 23,214

COMMISSION INCOME (19)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 13,571

PURCHASES (20)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 3,974,018
8.31.18 PJ 3,493,304

BAL 7,467,322

PURCHASE RETURNS & ALLOWANCES (21)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 12,277
8.12.18 GJ 3,839
8.21.18 CRJ 5,357
TOTAL
 BAL 21,473

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 58,746

FREIGHT IN (23)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 6,964
8.02.18 CDJ 5,893

BAL 12,857

FREIGHT OUT (24)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 1,500
8.31.18 CDJ 16,300

BAL 17800

SALARIES EXPENSE (25)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 27,300
8.31.18 CDJ 39,500
 BAL 66,800

TAXES AND LICENSES (26)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 8,300
 MISCELLANEOUS EXPENSE (27)
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 10,500

PROFESSIONAL SERVICE FEE (28)

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.01.18 beg 6,500

DELIVER VAN
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.25.18 PJ 669,643 8.29.18 CDJ 13,179
8.25.18 CDJ 8,929 8.28.18 GJ 10,714

BAL 654,679

NOTES PAYABLE
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.31.18 CRJ 300,000
 FURNITURES AND FIXTURES
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.08.18 CDJ 38,000

TOTAL

SSS/PHIC/HDMF CONTRIBUTION
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.10.18 CDJ 900

PREPAID INTEREST
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
8.31.18 CRJ 36,000

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT

TOTAL
 DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT

DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
 DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
 Depreciation Expenses
DEBIT CREDIT
Date Ref AMOUNT Date Ref AMOUNT
ADJ 2,321
ADJ 633
ADJ 5,456

SS/PHIC/HDMF contribution
DEBIT CREDIT
Date Ref AMOUNT Date
CDJ-1 900

TOTAL

Vat Payable
DEBIT CREDIT
Date Ref AMOUNT Date

Doubtful Accounts
DEBIT CREDIT
Date Ref AMOUNT Date
ADJ 16,335
 Allowance for Doubtful Accounts
DEBIT CREDIT
Date Ref AMOUNT Date

Rent Expenses
DEBIT CREDIT
Date Ref AMOUNT Date
ADJ 12,000

Prepaid Rent
DEBIT CREDIT
Date Ref AMOUNT Date
ADJ 12,000

Store supplies expense

DEBIT CREDIT
Date Ref AMOUNT Date
ADJ 16,350
 Interest expense
DEBIT CREDIT
Date Ref AMOUNT Date
ADJ 3,000
ontribution
CREDIT
Ref AMOUNT

yable
CREDIT
Ref AMOUNT
GJ-1 361,799

counts
CREDIT
Ref AMOUNT
tful Accounts
CREDIT
Ref AMOUNT
ADJ 16,335

nses
CREDIT
Ref AMOUNT

ent
CREDIT
Ref AMOUNT

expense
CREDIT
Ref AMOUNT
pense
CREDIT
Ref AMOUNT
AQUARIUS COMPANY
Trial Balance
August 31, 2018
UNADJUSTED TRIAL BALANCE
Debit
Cash 9,142,500
Accounts Receivable 544,500
Advances of Employees 5,700
Prepaid Rent 36,000
Prepaid Interest 36,000
Store Supplies 36,428
Rent Deposit 12,000
Office Equipment 69,643
Accumulated Depr'n- Office Equipment
Furnitures & Fixtures 38,000
Accumulated Depr'n- Furnitures & Fixtures
Delivery Van 654,679
Accumulated Depr'n- Delivery Van
Accounts Payable
Vat Output
Vat Input
Vat Payable
SSS/PHIC/HDMF Payable
withholding tax payable
Customer's deposit
Accrued Expenses
Notes Payable
AQUA Capital
AQUA Drawing 4,300
Sales
Sales discount 98,330
Sales Returns and Allowances 23,214
Commission Income
Purchases 7,467,322
Purchase discount
Purchase Returns and Allowances
Freight In 12,857
Freight out 17,800
Commission Expense
Salaries Expense 66,800
Taxes and Licenses 8,300
Professional Service Expense 6,500
SSS/PHIC/HDMF contribution 900
Light & water 5,140
Miscellaneous Expense 10,500
Depreciation Expense
Gasoline & Oil Expense
Interest Expense

TOTAL 18,297,413
ADJUSTED TRIAL BALANCE REF. ADJUSTMENTS
Credit Debit Credit

5,153,700

361,799
680
100
100,000

300,000
1,000,000

11,261,161

13,571

84,929
21,473
18,297,413
0
 ADJUSTED TRIAL BALANCE INCOME STATEMENT
Debit Credit Debit Credit
 BALANCE SHEET
Debit Credit