DATE PARTICULARS F DEBIT CREDIT

Feb. 1 Cash 113,000

Accounts Receivable 113,000

2 Accounts Payable 64,000

Cash 62,080
Purchase Discounts 1,920

4 Purchases 170,000
Accounts Payable 170,000

5 Accounts Receivable 270,000

Sales 270,000

7 Advertising Expense 6,000

Cash 6,000

7 Cash 250,000
Sales 250,000

8 Accounts Payable 170,000

Cash 164,900
Purchase Discounts 5,100

9 Transportation In 4,000
Cash 4,000

10 Sales Returns and Allowances 70,000

Accounts Receivable 70,000

12 Cash 196,000
Sales Discounts 4,000 200,000 x .02 = 4,000
Accounts Receivable 200,000 270,000 - 70,000 = 200,000

14 Interest Expense 26,000

Cash 26,000

15 Salaries Expense 51,000

Cash 51,000

16 Accounts Receivable 392,000

Sales 392,000

18 Transportation Out 4,000

Cash 4,000
19 Supplies 21,000
Cash 21,000

20 Purchases 125,000
Accounts Payable 125,000

22 Miscellaneous Expense 7,000

Cash 7,000

23 Cash 384,160
Sales Discounts 7,840
Accounts Receivalbe 392,000

24 Purchases 373,000
Accounts Payable 373,000

24 Transportation In 9,000
Cash 9,000

25 Accounts Receivable 420,000

Sales 420,000

26 Sales Return and Allowances 71,000

Accounts Receivable 71,000

28 Buenaflor, Withdrawals 400,000

Cash 400,000

28 Accounts Payable 25,000

Purchase Returns and Allowances 25,000
200,000 x .02 = 4,000
270,000 - 70,000 = 200,000
 CASH 110 ACCOUNTS RECEIVABLE
DR CR DR
Beg. Bal 33,000 62,080 Feb. 02 Beg. Bal 192,000
Feb. 1 113,000 6,000 Feb. 07 Feb. 05 270,000
Feb. 07 250,000 164,900 Feb. 08 Feb. 16 392,000
Feb. 12 196,000 4,000 Feb. 09 Feb. 25 420,000
Feb. 23 384,160 26,000 Feb. 14
51,000 Feb. 15 1,274,000
4,000 Feb. 18 Ending Balance 428,000
21,000 Feb. 19
7,000 Feb. 22
9,000 Feb. 24
400,000 Feb. 28
976,160 754,980
Ending Balance 221,180

Supplies 140 Prepaid Insurance

DR CR DR
Beg. Bal 51,000 Beg. Bal 48,000
Feb. 19 21,000
Ending Balance 72,000

Building 170 Acc. Dep. Building

DR CR DR
Beg. Bal 1,750,000

Acc. Dep. - Equipment 185 Accounts Payable

DR CR DR
630,000 Beg. Balance Feb. 02 64,000
Feb. 08 170,000
Feb. 28 25,000

259,000

Mortgage Payable 230 Buenflor, Capital

DR CR DR
 2,600,000 Beg. Balance

Income Summary 330 Sales

DR CR DR

Sales Discounts 430 Purchases

DR CR DR
Feb. 12 4,000 Feb. 04 170,000
Feb. 23 7,840 Feb. 20 125,000
Ending Balance 11,840 Feb. 24 373,000
Ending Balance 668,000

Purchase Discounts 530 Transprotation In

DR CR DR
1,920 Feb. 02 Feb. 09 4,000
5,100 Feb. 08 Feb. 24 9,000
7,020 Ending Balance Ending Balance 13,000

Supplies Expense 620 Insurance Expense

DR CR DR

Dep. Expense -Equip 650 Transportation Out

DR CR DR
 Feb. 18 4,000

Interest Expense 680 Miscellaneous Expense

DR CR DR
Feb. 14 26,000 Feb. 22 7,000
ACCOUNTS RECEIVABLE 120 Merchandise Inventory
CR DR CR
113,000 Feb. 1 Beg. Bal 413,000
70,000 Feb. 10
200,000 Feb. 12
392,000 Feb. 23
71,000 Feb. 26
846,000

Prepaid Insurance 150 Land

CR DR CR
Beg. Bal 460,000

Acc. Dep. Building 175 Equipment

CR DR CR
350,000 Beg. Balance Beg. Balance 2,310,000

Accounts Payable 210 Salaries Payable

CR DR CR
108,000 Beg. Balance
170,000 Feb. 04
125,000 Feb. 20
373,000 Feb. 24
776,000
517,000 Ending Balance

Buenflor, Capital 310 Buenflor, Withdrawals

CR DR CR
 1,569,000 Beg. Balance Feb. 28 400,000

Sales 410 Sales Return and Allow.

CR DR CR
270,000 Feb. 05 Feb. 10 70,000
250,000 Feb. 07 Feb. 26 71,000
392,000 Feb. 16 Ending Balance 141,000
420,000 Feb. 25
1,332,000 Ending Balance

Purchases 510 Purchase Ret. & Allow.

CR DR CR
25,000

Transprotation In 540 Salaries Expense

CR DR CR
Feb. 15 51,000

Insurance Expense 630 Dep. Expense - Bldg

CR DR CR

Transportation Out 660 Advertising Expense

CR DR CR
 Feb. 07 6,000

Miscellaneous Expense 690

CR
130

160

180

220

320
420

520

Feb. 28

610

640

670
 Teresita Buenaflor
Unadjusted Trial Balance
February 28, 2018
Account Tiles DEBIT CREDIT

Cash 221,180
Accounts Receivable 428,000
Merchandise Inventory, Beg. 413,000
Supplies 72,000
Prepaid Insurance 48,000
Land 460,000
Building 1,750,000
Accumulated Dpreciaation - Bldg 350,000
Equipment 2,310,000
Accumulated Depreciation - Equip. 630,000
Accounts Payable 517,000
Mortagage Payable 2,600,000
Buenaflor, Capital 1,569,000
Buenaflor, Withdrawals 400,000
Sales 1,332,000
Sales Returns and Allowances 141,000
Sales Discounts 11,840
Purchases 668,000
Purchase Returns and Allowances 25,000
Purchase Discounts 7,020
Transportation In 13,000
Salaries Expense 51,000
Transportaion Out 4,000
Advertising Expense 6,000
Interest Expense 26,000
Miscellaneous Expense 7,000
Total 7,030,020 7,030,020
DATE PARTICULARS DEBIT CREDIT

Feb. 28 Salaries Expense 51,000

Salaries Payable 51,000

Insurance Expense 2,000

Prepaid Insurance 2,000

Depreciation Expense - Bldg 9,000

Depreciation Expense - Equip. 12,000
Acc. Depreciation - Bldg. 9,000
Acc. Depreciation - Equip. 12,000

Supplies Expense 58,000

Supplies 58,000

Income Summary 413,000

Merchandise Inventory, Beg 413,000
To remove the beginning balance of
inventory.

Merchandise Inventory, End 397,000

Income and Expense Summary 397,000
 Teresita Buenaflor
Worksheet
February 28, 2018

TRIAL BALANCE ADJUSTMENTS

Account Tiles DEBIT CREDIT DEBIT CREDIT
Cash 221,180
Accounts Receivable 428,000
Merchandise Inventory, Beg. 413,000
Supplies 72,000 58,000
Prepaid Insurance 48,000 2,000
Land 460,000
Building 1,750,000
Accumulated Dpreciation - Bldg 350,000 9,000
Equipment 2,310,000
Accumulated Depreciation - Equip. 630,000 12,000
Accounts Payable 517,000
Mortagage Payable 2,600,000
Buenaflor, Capital 1,569,000
Buenaflor, Withdrawals 400,000
Sales 1,332,000
Sales Returns and Allowances 141,000
Sales Discounts 11,840
Purchases 668,000
Purchase Returns and Allowances 25,000
Purchase Discounts 7,020
Transportation In 13,000
Salaries Expense 51,000 51,000
Transportaion Out 4,000
Advertising Expense 6,000
Interest Expense 26,000
Miscellaneous Expense 7,000
Total 7,030,020 7,030,020
Adjustments
Salaries Payable 51,000
Insurance Expense 2,000
Depreciation Expense - Bldg 9,000
Depreciation Expense - Equip. 12,000
Supplies Expense 58,000
Total 132,000 132,000
sita Buenaflor
Worksheet
uary 28, 2018

ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET

DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
221,180 221,180
428,000 428,000
413,000 413,000 397,000 397,000
14,000 14,000
46,000 46,000
460,000 460,000
1,750,000 1,750,000
359,000 359,000
2,310,000 2,310,000
642,000 642,000
517,000 517,000
2,600,000 2,600,000
1,569,000 1,569,000
400,000 400,000
1,332,000 1,332,000
141,000 141,000
11,840 11,840
668,000 668,000
25,000 25,000
7,020 7,020
13,000 13,000
102,000 102,000
4,000 4,000
6,000 6,000
26,000 26,000
7,000 7,000

51,000 51,000
2,000 2,000
9,000 9,000
12,000 12,000
58,000 58,000
7,102,020 7,102,020 1,472,840 1,761,020 6,026,180 5,738,000
288,180 288,180
1,761,020 1,761,020 6,026,180 6,026,180
 Teresita Buenaflor
Statemetn of Performance Note 1 - Net Sales
For the Month February 28, 2018
Sales
Net Sales ( Note 1 ) 1,179,160 Less: Sales Returns and
Less Cost of Goods Sold ( Note 2) 664,980 Sales Discounts
Gross Profit 514,180 Net Sales
Less: Operating Expenses 226,000
Net Income 288,180
Note 2 - Cost of Goods

Merchandise Inventory
Add Net Purchase:
Purchase
Add: Transporation
Less: Purchase Ret

Goods Available for Sale

Less: Merchandise Inve
Cost of Goods Sold

Note 3 - Operating Expe

Salaries Expense
Supplies Expense
Interest Expense
Depreciation Expense -
Depreciation Expense -
Advertising Expense
Transportaion Out
Insurance Expense
Miscellaneous Expense
Note 1 - Net Sales

1,332,000
Less: Sales Returns and Allowances 141,000
Sales Discounts 11,840 152,840
1,179,160

Note 2 - Cost of Goods Sold

Merchandise Inventory, Beg. 413,000

Add Net Purchase:
Purchase 668,000
Add: Transporation In 13,000 681,000
Less: Purchase Ret. and Allowances 25,000
Purchase Discounts 7,020 648,980
Goods Available for Sale 1,061,980
Less: Merchandise Inventory, End 397,000
Cost of Goods Sold 664,980

Note 3 - Operating Expense

Salaries Expense 102,000

Supplies Expense 58,000
Interest Expense 26,000
Depreciation Expense - Equip. 12,000
Depreciation Expense - Bldg 9,000
Advertising Expense 6,000
Transportaion Out 4,000
Insurance Expense 2,000
Miscellaneous Expense 7,000
Total 226,000
 Teresita Buenaflor
Statement of Changes in Equity
For the Month February 28, 2018

Buenaflor Capital, Beginning 1,569,000

Add: Net Income, Feb, 28, 2018 288,180
Total 1,857,180
Less: Buenaflor, Withdrawals 400,000
Buenaflor Capital, Ending 1,457,180
 Teresita Buenaflor
Statement of Financial Position
As of February 28, 2018

ASSETS

CURRENT

Cash
Accounts Receivable
Merchandise Inventory, End
Supplies
Prepaid Insurance

NONCURRENT

Land
Building
Less: Accumulated Depreciation
Equipment
Less: Accumulated Depreciation
TOTAL ASSETS

LIABILITIES AND OWNER'S EQUITY

CURRENT

Accounts Payable
Salaries Payable

NONCURRENT ASSETS

Mortgage Payable

Buenaflor Capatal, End

TOTAL LIABILITIES AND OWNER'S EQUITY
 Teresita Buenaflor
atement of Financial Position
As of February 28, 2018

ASSETS

221,180
428,000
397,000
14,000
46,000 1,106,180

460,000
1,750,000
359,000 1,391,000
2,310,000
642,000 1,668,000 3,519,000
4,625,180

TIES AND OWNER'S EQUITY

517,000
51,000 568,000

2,600,000 3,168,000

1,457,180
4,625,180
CLOSING ENTRIES
2018
Feb. 28 Sales 1,332,000
Sales Returns and Allowance 141,000
Sales Discounts 11,840
Income Summary 1,179,160
To close sales related accounts to Income Summary

Merchandise Inventory, End 397,000

Purchase Returns and Allowances 25,000
Purchase Discounts 7,020
Income Summary 664,980
Purchases 668,000
Transportation In 13,000
Merchandise Inventory, Beg. 413,000
To close inventory related accounts to Income summary

Income Summary 226,000

Salaries Expense 102000
Supplies Expense 58000
Interest Expense 26000
Depreciation Expense - Equip. 12000
Depreciation Expense - Bldg 9000
Advertising Expense 6000
Transportaion Out 4000
Insurance Expense 2000
Miscellaneous Expense 7000
To close Operating expenses to Income Summary.

Income Summary 288,180

Buenaflor, Capital 288,180
To close Income Summary to Capital.

Buenaflor Wihtdrawals 400,000

Buenaflor, Capital 400,000
To close drawing to capital
 Teresita Buenaflor
Statement of Financial Position
For the Period Ended February 28, 2018

Account Titles
Cash
Accounts Receivable
Merchandise Inventory, End
Supplies
Prepaid Insurance
Land
Building
Accumulated Depreciation
Equipment
Accumulated Depreciation
Accounts Payable
Salaries Payable
Mortgage Payable
Buenaflor Capatal, End
TOTAL
 Buenaflor
inancial Position
ed February 28, 2018

DEBIT CREDIT
221,180
428,000
397,000
14,000
46,000
460,000
1,750,000
359,000
2,310,000
642,000
517,000
51,000
2,600,000
1,457,180
5,626,180 5,626,180