Dee Gee Distributors

8/9/2019 Dee Gee Distributors

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Post Closing Trial BalanceDee Gee DistributorsPost Closing Trial Balance

May 31, 2003

Accounts Dr Cr1 Cash 11534 -2 Accounts Recievable 2950 -3 Supplies 1200 -4 Furniture 10000 -5 Office Equipment 15000 -

--7 Accounts Payable 5000 -8 Dee Gee, Capital - May 31 36684 -9 Accumulated Depreciation - Office Equipment 3000 -

10 Accumulated Depreciation - Furniture 2500 -11 Allowance for Doubtful Accounts 500 -12 Utilities Payable 1000 -13 46684 - 46684 -14

Prepared by:

CSIS3A

ose enn o . m r.CSIS3A


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Dee ee D str utors

For the Month Ended, May 31, 2003

Accounts Dr Cr

-

For the Month Ended, May 31, 2003 Adjustments

2 March Accumulated Depreciation Expense - Office Equipment 3000

3

4 Depreciation Expense - Furniture 2500

5 Accumulated Depreciation Expense - Furniture 2500

6

7 Supplies Used 1800

8 Supplies 1800

9

10 Doubtful Accounts Expense 500

11 Allowance for Doubtful Accounts 500

12

13 Utilities Expense 1000

14 Utilities Payable 1000

1

16 Merchandise Inventory 8000

17 Income Summary 8000

18

19 Closing Entries

2021 Sales 11050

22 Purchase Returns and Allowances 1300

23 Purchase Discounts 464

24 Income and Ex ense Summar 12814

25

26 Income & Expense Summary 54130


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Reminder:Ung mga entry ng values ay ilalagay sa 3rd, 4th, 5th at 6th columns ng inyong six-column na worksheet.

Income Statement

Income Statement

For the Month Ended, May 31, 2003

Accounts1 Sales 110502 Less: Sales Discount 803 Sales Returns and Allowances 500 580

4 e a es5 Less: Costs of Good Sold6 Merchandise Inventory, May 17 Add: Net Purchases

Purchases9 Add: Freight-In 70010 Total 3425011 Less: Purchase Discount 46412 Purchase Returns and Allowances 1300 1764 13 Total Goods Available for Sale 3248614 Less: Merchandise Inventory, May 31 8000 2448615 Gross Loss 1401616 Less: Operating Expenses17 Salaries 500018 Rent 500019 Depreciation Expense - Office Equipment 300020 Depreciation Expense - Furniture 2500

22Doubtful Accounts Expense

50023 Utilities Expense 100024 Freight-out 500 1930025 Net Loss (33316)

Prepared by:


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Statement of Financial PositionDee Gee DistributorsStatement of Financial Position

For the Month Ended May 31, 2003

ASSETS123 Current Assets

ASSETS

5 Accounts Receivable 29506 Less: Allowance for Doubtful Accounts 500 24507 Supplies 1200

9 Total Current Assets 231841011 Non-Current Assets

12 Furniture 10000Less: Accumulated Depreciation 2500 7500Office Equipment 15000

13 Less: Accumulated Depreciation 3000 1200014 Total Non-Current Assets 19500 1516 Total Assets 426841718 LIABILITIES & EQUITIES19 Current Liabilities20 Accounts Payable 5000


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EDISON DETROIT


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ASSETS LIABILITIES and OWNER'S EQUITY

EDISON DETROITStatement of Financial Position

December 31, 2003

1 Current Assets Current Liabilities2 Cash 52767 Accounts Payable 5000

3 Accounts Receivable 19410 Utilities Payable 1000Less: Allowance for Doubtful Accounts 125 Total Current Liabilities 6000

ASSETS LIABILITIES and OWNER'S EQUITY

Less: Allowance for Doubtful Accounts 125 Total Current Liabilities 60004 Supplies 30005 Merchandise Inventory 4950 Owner's Equity6 Total Current Assets 23184 Edison, Capital - January 1 700007 Less: Edison, Withdrawal 333168 Non-Current Assets Edison, Capital - March 31 366849 Furniture 10000

11 Less: Accumulated Depreciation 2500 7500

12 Office Equipment 1500013 Less: Accumulated Depreciation 3000 1200014 Total Non-Current Assets 1950015 Total Assets 42684 Total Liabilities & Owner's Equity 4268416

Prepared by:Jose Dennio P. Lim Jr.CSIS3A

Prepared by:

EDISON DETROIT


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EDISON DETROITWorksheet

Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr1 Cash 11534 11354 115342 Accounts Receivable 2950 2950 2950

3 Supplies 3000 1800 1200 1200

Balance Sheet Adjustments

For the Quarter Ended, March 31, 2003

Trial Balance Adjusted Trial Balance Accounts

Income Statement

4 Furniture 10000 10000 100005 Office Equipment 15000 15000 150006 Accounts Payable 5000 5000 50007 Dee Gee, Capital 70000 70000 700008 Sales 11050 11050 110509 Sales Returns and Withdrawal 500 500 500

10 Sales Discount 80 80 80urc ases

12 Purchase Returns and Allowances 1300 1300 130013 Purchase Discounts 464 464 464

Freight-Out 500 500 500Freight-In 700 700 700

14 Salaries 5000 5000 500015 Rent Expense 5000 5000 500016 TOTAL 87814 87814

17

18 Depreciation Expense - Office Equipment 3000 3000 300019 Accumulated Depreciation Expense - Office Equipment 3000 3000 3000

20 Depreciation Expense - Furniture 2500 2500 250021 Accumulated Depreciation Expense - Furniture 2500 2500 250022 Supplies Used 1800 1800 180023 Doubtful Accounts Expense 500 500 500

24 Allowance for Doubtful Accounts 500 500 50025 Utilities Expense 1000 1000 100026 Utilities Payable 1000 1000 100027 Merchandise Inventory 8000 8000 800028 Income Summary 8000 8000 800029 Subtotal 16800 16800 102814 102814 54130 20814 48684 82000

30 Net Income 33316 33316

1 ran ota 41 41

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Jose Dennio P. Lim Jr.CSIS3A

Prepared by:

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