JOURNAL

Date Accounts
AL

Debit Credit
 Accounts Unadjusted
Cash P 622,894.00
Accounts Receivable 49,580.00
Prepaid Insurance 24,000.00
Prepaid Rent 25,000.00
Office Supplies 15,000.00
Equipment 54,800.00
Computer Equipment 43,000.00
Truck 1,050,000.00
Accounts Payable-Inventory P
Loan Payable
Barbeyto, Capital
Barbeyto, Withdrawal 50,000.00
Sales
Sales Returns and Allowances 55,080.00
Sales Discount 11,016.00
Purchases 295,000.00
Purchase Returns and Allowances
Purchase Discount
Transportation In 5,400.00
Transportation Out 1,200.00
Salaries Expense 41,050.00
Utilities Expense 19,500.00
Miscellaneous Expense 2,500.00

Rent Expense
Insurance Expense
Office Supplies Expense
Depreciation Expense
Acc. Dep - Office Equipment
Acc. Dep - Computer Equipment
Acc. Dep - Truck
Merchandise Inventory

TOTALS 2,365,020.00
Adjustments
1. The ending inventory at the end is P129,760
2. Compute for the expired portion of Rent and Insurance (One Month)
3.The used office supplies amounted P 11,000.
4. Depreciation Expense:
Equipment- P5,480
Computer Eqpt- P4,300
Truck -P52,500
 Barbeyto Distributors
Trial Balance
September 30, 2018
Unadjusted Adjusted Income Statement
P 622,894.00
49,580.00
22,000.00
16,667.00
4,000.00
54,800.00
43,000.00
1,050,000.00
101,500.00 P 101,500.00
850,000.00 850,000.00
820,000.00 820,000.00
50,000.00
550,800.00 550,800.00
55,080.00 P
11,016.00
295,000.00
35,600.00 35,600.00
7,120.00 7,120.00
5,400.00
1,200.00
41,050.00
19,500.00
2,500.00

8,333.00
2,000.00
11,000.00
62,280.00
5,480.00
4,300.00
52,500.00

2,365,020.00 2,427,300.00 2,427,300.00

 435,124.00
Rent 3Months 156,180.00
Insurance 12 months 128,250.00
719,554.00 Cash Inflow for Operating Activities

1,050,000.00
54,800.00
43,000.00
(-) 1,147,800.00 Cash from investing Activities

820,000.00
(50,000.00)
850,000.00
1,720,000.00 Cash Inflows from Financing Activities

1,291,754.00
 Income Statement Balance Sheet
P 622,894.00
49,580.00
22,000.00
16,667.00
4,000.00
49,320.00
38,700.00
997,500.00
P

50,000.00
P 550,800.00
55,080.00
11,016.00
295,000.00
35,600.00
7,120.00
5,400.00
1,200.00
41,050.00
19,500.00
2,500.00

8,333.00
2,000.00
11,000.00
62,280.00

127,920.00 127,920.00

514,359.00 721,440.00 1,978,581.00

207,081.00
721,440.00 721,440.00 1,978,581.00
Cash Inflow for Operating Activities

Cash from investing Activities

Cash Inflows from Financing Activities

Balance Sheet

101,500.00
850,000.00
820,000.00

1,771,500.00
207,081.00
1,978,581.00
 Barbeyto Distributors
Income Statement
For the Year Ended September 30, 2018

Net Sales
Gross Sales
Less: Sales Return and Allowances
Sales Discount
Net Sales
Cost of Sales
Beginning Inventory
Purchases P
Less:Purchase Return and Allowances P 35,600.00
Purchase Discount 7,120.00
Net Purchases
Transportation In
Net Cost of Purchase
Goods Available for Sale
Less: Ending Inventory
Cost of Sales
Gross Profit
Expenses
Transportation Out
Salaries Expense
Utilities Expense
Miscellaneous Expense
Rent Expense
Insurance Expense
Supplies Expense
Depreciation Expense
PROFIT
 Barbeyto Distributors
Income Statement
For the Year Ended September 30, 2018

P 550,800.00
P 55,080.00
11,016.00 66,096.00
484,704.00

295,000.00

42,720.00
252,280.00
5,400.00
257,680.00
257,680.00
129,760.00
127,920.00
356,784.00

1,200.00
41,050.00
19,500.00
2,500.00
8,333.00
2,000.00
11,000.00
62,280.00 147,863.00
208,921.00
 Barbeyto Distrubutors
Balance Sheet
September 30, 2018

Assets
Current Assets
Cash P 622,894.00
Accounts Receivable 49,580.00
Merchandise Inventory 129,760.00
Prepaid Insurane 22,000.00
Prepaid Rent 16,667.00
Office Supplies 4,000.00
Total Current Assets
Property and Equipment
Truck 1,050,000.00
Less: Accumulated Depreciation 52,500.00 997,500.00
Office Equipment 54,800.00
Less: Accumulated Depreciation 5,480.00 49,320.00
Computer Equipment 43,000.00
Less: Accumulated Depreciation 4,300.00 38,700.00
Total Assets
Liabilities
Currents Liabilities
Accounts Payable 101,500.00
Total Current Liabilities
Non-current Liabilities
Loan Payable 850,000.00
Total Non-current Liabilities
Owner's Equity
Barbeyto, Capital 12/31/2015
Total Liabilities and Owner's Equity
P 844,901.00

1,085,520.00
1,930,421.00

101,500.00

850,000.00

978,921.00
1,930,421.00
 Barbeyto Distributors
Statement of Changes in Equity
For the Year Ended September 30, 2018

Barbeyto, Capital 1/1/2015 P 820,000.00

Add: Net Profit 208,921.00
Total 1,028,921.00
Less: Withdrawals 50,000.00
Dondoyano, Capital 12/31/2015 P 978,921.00
Cash Flows from Operating Activities
Cash Received from clients 435,124.00
Payment to suppliers (156,180.00)
Payment to employees (41,050.00)
Payment for office rent (25,000.00)
Payment for insurance (24,000.00)
Paymeny for utilities (19,500.00)
Payment for office supplies (15,000.00)
Payment for transporation out (1,200.00)
Payment for other expense (2,500.00)
Cash inflows from operating activities 150,694.00

Cash Flow from Investing Activities

Payment to acquire service vehicle (1,050,000.00)
Payment to acquire office equipment (54,800.00)
Payment to acquire computer equipment (43,000.00)
Cash outflows from investing activities (1,147,800.00)

Cash Flows from Financing Activities

Cash received as investment by the owner 820,000.00
Cash received from long term borrowings 850,000.00
Cash received from short term borrowings
Payments for withdrawals by the owner (50,000.00)
Cash inflows from financing activities 1,620,000.00

Net Increase in Cash 622,894.00

Cash balance at the beginning of the period -
Cash balance at the end of the period 622,894.00