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MARIST BROTHERS
NOTRE DAME OF DADIANGAS UNIVERSITY
Technical-Vocational Programs
Marist Avenue
General Santos City 9500
P.O. Box 100
NC III –BOOKKEEPING
INSTRUCTIONS: Prepare the following:
PROBLEM 1:
1. JOURNAL ENTRIES
2. POST THE JOURNAL ENTRIES TO THE GENERAL LEDGER
3. PRELIMINARY TRIAL BALANCE
4. FINANCIAL STATEMENTS:
A. STATEMENT OF PERFORMANCE
B. STATEMENT OF CHANGES IN CAPITAL
C. STATEMENT OF FINANCIAL POSITION
D. STATEMENT OF CASH FLOWS
5. CLOSING ENTRIES
6. POST-CLOSING TRIAL BALANCE.
PROBLEM 2:
1. PREPARE THE ADJUSTING ENTRIES.
Contact No.: 09087171912
FB Acct: @NDDUTechVocPrograms
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Hermosa Company
Chart of Accounts
Use for Journalization and Posting to the ledger:
100 ASSETS 400 INCOME
101 CASH 401 SALES
105 ACCOUNTS RECEIVABLE 405 SALES RETURNS AND
ALLOWANCES
115 MERCHANDISE INVENTORY 410 SALES DISCOUNTS
120 SUPPLIES 500 EXPENSES
150 EQUIPMENT 501 COST OF GOODS SOLD
200 LIABILITIES
201 ACCOUNTS PAYABLE 503 ADVERTISING EXPENSE
202 NOTES PAYABLE 506 FREIGHT OUT
300 EQUITY 510 RENT EXPENSE
301 HERMOSA, CAPITAL 530 SALARIES
302 HERMOSA, DRAWING 540 UTILITIES
601 INCOME SUMMARY
Hermosa Company
Chart of Accounts
Use for FINANCIAL STATEMENTS PREPARATION
100 ASSETS 400 INCOME
101 CASH & CASH EQUIVALENTS
105 RECEIVABLES 405 NET SALES
115 INVENTORIES
120 PREPAID EXPENSES 500 EXPENSES
150 PROPERTY, PLANT & EQUIPMENT 501 COST OF GOODS SOLD
200 LIABILITIES
201 ACCOUNTS PAYABLE 503 ADVERTISING EXPENSE
202 NOTES PAYABLE
300 EQUITY
301 HERMOSA, CAPITAL 506 FREIGHT OUT
302 HERMOSA, DRAWING 510 RENT EXPENSE
530 SALARIES
540 UTILITIES
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HERMOSA COMPANY
2015
Dec 1 The Hermosa Company was registered as a single
proprietorship with the Department of Trade and Industry, Catherine
Hermosa invested P 62,000.
4 Purchased equipment for P 18,000 cash.
4 Purchased merchandise on account from NDDU Co., P 17,800 terms:
2/10, n/30
4 Bought office supplies on cash basis for P 1,250.
5 Sold merchandise on account P 15,700, FOB Destination, terms: 2/10,
n/30. The cost of merchandise sold was P 11,300.
6 Paid freight on Dec 05 sales, P 720.
7 Received credit from NDDU Co. for merchandise returned P 825.
12 Paid NDDU Co.
14 Collected October 5 sales.
14 Bought merchandise on cash basis for P 12,110.
16 Salaries paid P 1,700.
17 Borrowed money from BPI, signed a promissory note P 13,500.
18 Received refund from a supplier cash purchase of Dec. 14, P 630.
19 Bought merchandise from Holy Co., P 16,200, FOB Shipping point,
terms: 2/10, n/30.
21 Paid freight on December 19 purchase, P 945.
24 Sold merchandise for P 17,880. The merchandise sold had a cost of
P 14,100.
27 Bought merchandise for cash, P 15,900.
28 Paid Holy Co. on the October 19 purchase, P 7,700. No discount
allowed on partial payment.
29 Catherine Hermosa withdrew for her personal use, P 2,000.
30 Made refund to cash customers for defective merchandise, P 1,600.
30 Sold merchandise on account, P 20,400, n/30. Cost of the merchandise
sold is P 15,200.
31 Paid the following: advertising P 1,100, Utilities, P 880, Rent P
1,125, salaries P 1,720.
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