Wawa Trading

General Journal
Date PR Items Debit Credit
June 5 Purchases 24,000.00
Input Tax 2,880.00
Notes Payable 26,880.00
To record urchase on account from Corven
Trading

5 Accounts Payable 5,600.00

Purchases Return 5,000.00
Input Tax 600.00
To record return of merchandise bought from
REMAX

6 Sales Return 500.00

Output Tax 60.00
Accounts Receivable 560.00
To record return of merchandise sold to Mariposa
Trading
 Wawa Trading
Sales Journal
Output Tax Notes Receivable
Date Invoice No. Customer Name Terms PR Sales (Credit) (Credit) (Debit)

June 3 01 36,400.00 4,368.00

3 02 Mariposa Trading 3/15, n/45 28,500.00 3,420.00
13 03 89,000.00 10,680.00
16 04 Liwag Trading 2/10, n/60 35,000.00 4,200.00
17 05 Kalvo Company 30 day, 6% note 20,000.00 2,400.00 22,400.00
26 06 Mariposa Trading n/45 12,000.00 1,440.00
30 07 Pabling Trading 50% DP, n/60 12,500.00 1,500.00
₱ 233,400.00 ₱ 28,008.00 ₱ 22,400.00

Wawa Trading
Purchase Journal
Purchase
Date Acount Credited Terms PR Purchases (Debit) Supplies (Debit) Equipment (Debit)
Req. No.
June 1 4556 Ronald Equipment Company 2/10, n/30 75,000.00
1 1220 REMAX 2/10, n/40 125,000.00
18 1223 Ligao Trading 3/15, n/60 8,000.00
27 2435 Canlubang Trading n/30 5,000.00
30 6766 Globe Traders ₱6,272 DP, n/30 6,400.00
₱ 144,400.00 ₱ 75,000.00
 Accounts
Receivable (Debit)

31,920.00

39,200.00

13,440.00
14,000.00
₱ 98,560.00

Input Tax (Debit) Accounts Payable

(Credit)
9,000.00 84,000.00
15,000.00 140,000.00
960.00 8,960.00
600.00 5,600.00
768.00 7,168.00
₱ 26,328.00 ₱ 245,728.00
 Wawa Trading
Cash Receipts Journal
Accounts
Customer Name/Account Sundry Credit Sales Discount
Date O.R. No. PR Receivable Sales (Credit)
Debited (Debit) (Debit)
(Credit)
June 1 001 Ricafort, Capital 450,000.00
1 Tables and Chairs (30,000.00)
3 002 Loan Payable 30,000.00
3 003 36,400.00
11 004 31,360.00 940.80
12 005 Purchase Return 1,200.00
13 006 89,000.00
24 007 Ricafort, Capital 10,000.00
25 008 Rent Revenue 1,200.00
30 009 13,440.00
30 010 12,500.00
₱ 462,400.00 ₱ 44,800.00 ₱ 137,900.00 ₱ 940.80

Wawa Trading
Cash Disbursement Journal
Sundry Debit Notes Payable Accounts Payable Purchases (Debit)
Date Check No. Payee/Account Debited PR (Credit) (Debit) (Debit)
June 1 001 Prepaid Rent 30,000.00
2 002 12,400.00
2 003 Petty Cash Fund 2,000.00
2 004 Taxes and Licenses Expense 3,050.00
4 005 Advertising Expense 6,000.00
7 006 Sales Return 1,500.00
8 007 84,000.00
9 008 Ricafort, Drawing 3,500.00
10 009 Loan Payable 15,000.00
14 010 10,000.00
15 011
20 012 Interest Expense 100.00 26,880.00
21 013 Delivery Expense 1,200.00
22 014 Freight-in 800.00
23 015 Supplies 1,800.00
29 016 8,960.00
30 017 Insurance Expense 6,000.00
30 018
30 019 Utilities Expense 8,000.00
30 020 5,600.00
Miscellaneous Expense 108.00
30 021
Postage Expense 34.00
₱ 79,092.00 ₱ 26,880.00 ₱ 92,960.00 ₱ 28,000.00
 Output Tax Cash (Debit)
(Credit)

450,000.00

30,000.00
4,368.00 40,768.00
30,419.20
(144.00) 1,344.00
10,680.00 99,680.00
10,000.00
144.00 1,344.00
13,440.00
1,500.00 14,000.00
₱ 16,548.00 ₱ 690,995.20

Salaries Expense Purchase Discount Input Tax (Debit) Cash (Credit)

(Debit) (Credit)
3,600.00 33,600.00
1,488.00 13,888.00
2,000.00
3,050.00
720.00 6,720.00
(180.00) 1,680.00
1,680.00 82,320.00
3,500.00
15,000.00
 1,200.00 11,200.00
24,000.00 24,000.00
26,980.00
144.00 1,344.00
96.00 896.00
216.00 2,016.00
240.00 8,720.00
720.00 6,720.00
24,000.00 24,000.00
960.00 8,960.00
672.00 6,272.00

142.00

₱ 48,000.00 ₱ 1,920.00 ₱ 9,636.00 ₱ 283,008.00

 GENERAL LEDGER
Account CASH Account PETTY CASH FUND
Date Item PR Debit Credit Balance Date Item PR
June 30 690,995.20 June 2
30 283,008.00 407,987.20

Account ACCOUNTS RECEIVABLE Account NOTES RECEIVABLE

Date Item PR Debit Credit Balance Date Item PR
June 6 560 June 5
30 98,560.00 98,000.00
30 44,800.00 53,200.00

Account PREPAID RENT Account TABLES AND CHAIRS

Date Item PR Debit Credit Balance Date Item PR
June 1 30,000.00 30,000.00 June 1

Account SUPPLIES Account ACCOUNTS PAYABLE

Date Item PR Debit Credit Balance Date Item PR
June 23 1,800.00 1,800.00 June 5
30
30

Account NOTES PAYABLE Account LOAN PAYABLE

Date Item PR Debit Credit Balance Date Item PR
 June 5 26,880.00 June 3
20 26,880.00 - 10

Account RICAFORT, CAPITAL Account RICAFORT, DRAWING

Date Item PR Debit Credit Balance Date Item PR
June 1 450,000.00 June 9
24 10,000.00 460,000.00

Account RENT REVENUE Account SALES

Date Item PR Debit Credit Balance Date Item PR
June 25 1,200.00 1,200.00 June 30

Account SALES DISCOUNT Account SALES RETURN

Date Item PR Debit Credit Balance Date Item PR
June 11 940.80 940.80 June 6

Account PURCHASE Account PURCHASE DISCOUNT

Date Item PR Debit Credit Balance Date Item PR
June 30 28,000.00 June 8
 30 144,400.00 172,400.00 29

Account PURCHASE RETURN Account FREIGHT-IN

Date Item PR Debit Credit Balance Date Item PR
June 5 5,000.00 5,000.00 June 22

Account ADVERTISING EXPENSE Account DELIVERY EXPENSE

Date Item PR Debit Credit Balance Date Item PR
June 4 6,000.00 6,000.00 June 21

Account INTEREST EXPENSE Account INSURANCE EXPENSE

Date Item PR Debit Credit Balance Date Item PR
June 20 100.00 100.00 June 30

Account MISCELLANEOUS EXPENSE Account POSTAGE EXPENSE

Date Item PR Debit Credit Balance Date Item PR
June 30 108.00 108.00 June 30
Account SALARIES EXPENSE Account TAXES AND LICENSES EXPENSE
Date Item PR Debit Credit Balance Date Item PR
June 15 24,000.00 June 2
30 24,000.00 48,000.00

Account UTILITIES EXPENSE

Date Item PR Debit Credit Balance
June 30 8,000.00 8,000.00

Account INPUT TAX Account OUTPUT TAX

Date Item PR Debit Credit Balance Date Item PR
June 5 2,880.00 June 6
5 600.00 2,280.00 30
30 9,636.00 11,916.00 30
30 26,328.00 38,244.00

Output Tax 44,496.00

Input Tax 38,244.00
VAT Payable ₱6,252.00 −−−−−−−−→ For the month of
June
ND
Debit Credit Balance
2,000.00 2,000.00

BLE
Debit Credit Balance
22,400.00 22,400.00

AIRS
Debit Credit Balance
30,000.00 30,000.00

ABLE
Debit Credit Balance
5,600.00
245,728.00 240,128.00
92,960.00 147,168.00

Debit Credit Balance

 30,000.00
15,000.00 15,000.00

Debit Credit Balance

3,500.00 3,500.00

Debit Credit Balance

233,400.00 233,400.00

Debit Credit Balance

500.00 500.00

Debit Credit Balance

1,680.00
 240.00 1,920.00

Debit Credit Balance

800.00 800.00

Debit Credit Balance

1,200.00 1,200.00

Debit Credit Balance

6,000.00 6,000.00

NSE
Debit Credit Balance
34.00 34.00
NSES EXPENSE
Debit Credit Balance
3,050.00 3,050.00

Debit Credit Balance

60.00
16,548.00 16,488.00
28,008.00 44,496.00
 ACCOUNTS RECEIVABLE LEDGER
Customer MARIPOSA TRADING Customer LIWAG TRADING
Date Item PR Debit Credit Balance Date Item PR
June 3 Sales Invoice No. 02 31,920.00 June 16 Sales Invoice No. 04
6 560.00 31,360.00
11 O.R. No. 004 31,360.00 -
26 Sales Invoice No. 06 13,440.00 13,440.00
28 O.R. No. 009 13,440.00 -

Customer KALVO COMPANY Customer PABLING TRADING

Date Item PR Debit Credit Balance Date Item PR
June 17 Sales Invoice No. 05 22,400.00 June 30 Sales Invoice No. 07

ACCOUNTS PAYABLE LEDGER

Name RONALD EQUIPMENT COMPANY Name REMAX
Date Item PR Debit Credit Balance Date Item PR
June 1 Invoice No. 4556 84,000.00 June 1 Invoice No. 1220
8 Check No. 007 84,000.00 - 5

Name CORVEN TRADING Name LIGAO TRADING

Date Item PR Debit Credit Balance Date Item PR
June 18 Invoice No. 212 26,980.00 June 18 Invoice No. 1223
20 Check No. 12 26,980.00 - 29 Check No. 016
Name CANLUBANG TRADING Name GLOBE TRADERS
Date Item PR Debit Credit Balance Date Item PR
June 27 Invoice No. 2435 5,600.00 June 30 Invoice No. 6766
G
Debit Credit Balance
39,200.00

NG
Debit Credit Balance
14,000.00

Debit Credit Balance

140,000.00
5,600.00 134,400.00

G
Debit Credit Balance
8,960.00
8,960.00 -
S
Debit Credit Balance
7,168.00
 Wawa Trading
Trial Balance
For the month ended June 20CY

Cash 407,987.20
Petty Cash Fund 2,000.00
Accounts Receivable 53,200.00
Notes Receivable 22,400.00
Prepaid Rent 30,000.00
Tables and Chairs 30,000.00
Supplies 1,800.00
Accounts Payable 147,168.00
Loan Payable 15,000.00
VAT Payable 6,252.00
Ricafort, Capital 460,000.00
Ricafort, Drawing 3,500.00
Rent Revenue 1,200.00
Sales 233,400.00
Sales Discount 940.80
Sales Return 500.00
Purchases 172,400.00
Purchase Discount 1,920.00
Purchase Return 5,000.00
Freight-in 800.00
Advertising Expense 6,000.00
Delivery Expense 1,200.00
Interest Expense 100.00
Insurance Expense 6,000.00
Miscellaneous Expense 108.00
Postage Expense 34.00
Salaries Expense 48,000.00
Taxes and Licenses Expense 3,050.00
Utilities Expense 8,000.00
₱ 798,020.00 ₱ 869,940.00
 Wawa Trading
Schedule of Accounts Receivable
June 20CY
Total Accounts
Customer's Name Current 1 to 30 Days 31 to 60 Days 61 to 90 Days
Receivable
Liwag Trading 39,200.00 - 39,200.00 - -
Kalvo Trading 22,400.00 - 22,400.00 - -
Pabling Trading 14,000.00 - - 14,000.00 -
Total Receivables ₱ 75,600.00 - ₱ 61,600.00 ₱ 14,000.00 -

Wawa Trading
Schedule of Accounts Payable
June 20CY
Total Accounts
Name Current 1 to 30 Days 31 to 60 Days 61 to 90 Days
Payable
REMAX 134,400.00 - 134,400.00 - -
Canlubang Trading 5,600.00 - 5,600.00 - -
Globe Traders 7,168.00 - 7,168.00 - -
Total Payables ₱ 147,168.00 - ₱ 147,168.00 - -