December 1 Cash 500,000

Merchandise Inventory 300,000

Sam's Capital 800,000
1 Taxes & Licenses Expense 35,000
Rent Expense 120,000
Cash 155,000
1 Office Eqpt 200,000 Computers from Octa
Cash 200,000
1 Furniture & fixtures 136,500 Tables and chairs from Abenson
A/P 136,500
3 Merchandise Inventory 87,000
Cash 87,000
3 Merch Inv 1,500
Cash 1,500
5 Cash 140,000
Sales 140,000

Cost of Sales 35,000

Merchandise Inventory 35,000
5 Freight Out 3,000
Cash 3,000
7 Merchandise Inventory 100,000 Puregold 2/10, n/30
A/P 100,000

Merchandise Inventory 180,000 Shopwise EOM

A/P 180,000
9 A/R 210,000 Zen 3/10, n/40
Sales 210,000

Cost of Sales 35,000

Merchandise Inventory 35,000

A/R 110,000 Jill n/45

Sales 110,000

Cost of Sales 27,500

Merchandise Inventory 27,500
10 Cash 150,000
 Loans Payable 150,000
11 A/P 100,000
Cash 98,000
Merchandise Inventory 2,000
14 Cash 203,700
Sales Discount 6,300
A/R 210,000
15 A/P 20,000
Merch Inv 20,000
15 Cash 60,000
Rent Income 60,000
15 Sales Returns & Allowances 30,000
A/R 30,000

Merch. inv 7,500

Cost of Sales 7,500
15 Utilities Expense 23,000 Meralco
Cash 23,000
Utilities Expense 32,000 Manila Water
Cash 32,000
Salaries Expense 120,000
Cash 120,000
Advertising Expense 45,000
Cash 45,000
17 A/R 136,000 Alyanna 2/10, n/45
Sales 136,000

Cost of Sales 34,000

Merchandise Inventory 34,000
19 Merchandise Inventory 142,000 Andrea n/30
A/P 142,000
22 Sam's Drawing 20,000
Cash 20,000
23 N/R 30,000 JILL 60-day 6& note
Sales 30,000

Cost of Sales 7,500

Merchandise Inventory 7,500
25 Merchandise Inventory 28,000 to Shopwise 30-day 6% note
N/P 28,000
28 Cash 23,000
 Sam's Capital 23,000
29 Office Supplies Expense 12,000
Cash 12,000
31 Salaries Expense 120,000
Cash 120,000
3,570,500.00 3,570,500.00
 Cash Merchandise Inventory
500,000 155,000 300,000 35,000
140,000 200,000 87,000 35,000
150,000 87,000 1,500 27,500
203,700 1,500 100,000 2,000
60,000 3,000 180,000 20,000
23,000 98,000 7,500 34,000
23,000 142,000 7,500
s from Abenson 32,000 28,000
120,000 846,000 161,000
45,000
20,000
12,000
120,000
1,076,700 916,500

Furnitures and Fixtures Accounts Receivable

136,500 210,000 210,000
110,000 30,000
136,000
136,500 456,000 240,000

Accounts Payable Notes Payable

100,000 136,500 28,000
20,000 100,000
180,000
142,000
120,000 558,500 28,000

Rent Income Sales

60,000 140,000
210,000
110,000
136,000
 30,000
60,000 626,000

Rent Expense Office Supplies Expense

120,000 12,000

120,000 12,000

Salaries Expense Taxes & Licenses Expense

120,000 35,000
120,000
240,000 35,000

Sam's Capital Sam's Drawing

800,000 20,000
23,000
823,000 20,000

ay 6% note
 Cost of Sales Office Equipment
35,000 7,500 200,000
35,000 200,000
27,500
34,000
7,500
139,000 7,500

Notes Receivable Sales Returns & Allowances

30,000 30,000

30,000 30,000

Loans Payable
150,000

150,000
Utilities Expense Advertising Expense
23,000 45,000
32,000
55,000 45,000

Freight Out Sales Discount

3,000 6,300

3,000 6,300
 Unadjusted Trial Balance Adjustments
1 2 3 4
PARTICULARS DR CR DR CR
CASH 160,200
MERCHANDISE INVENTORY 685,000
COST OF SALES 131,500
OFFICE EQUIPMENT 200,000 24,000
FURNITURES & FIXTURES 136,500 16,380
A/R 216,000
N/R 30,000
SALES RETURNS & ALLOWANCES 30,000
SALES 626,000 1,040
A/P 438,500
N/P 28,000
L/P 150,000
SAM'S CAPITAL 823,000
SAM'S DRAWING 20,000
RENT INCOME 60,000
RENT EXPENSE 120,000
OFFICE SUPPLIES EXPENSE 12,000 10,000
TAXES & LICENSE EXPENSE 35,000
SALARIES EXPENSE 240,000
ADVERTISING EXPENSE 45,000 22,500
UTILITIES EXPENSE 55,000
FREIGHT OUT 3,000
SALES DISCOUNT 6,300

TOTAL 2,125,500 2,125,500

ADJUSTMENTS
DEP EXP - OFFIC EQUIPMENT 24,000
DEP EXP - FURNITURE 16,380
BAD DEBTS 1,040
PREPAID ADVT. 22,500
UNUSED OFFICE SUPPLIES 10,000
 TOTAL 73,920.00 73,920.00
NET INCOME

ADJUSTED ENTRIES
1 Dep. Exp. - Offic Equipment 24,000
Accum. Dep.
1 Dep. Exp - Furniture 16,380
Accum. Dep.
2 Impairment Loss 1,040
Allowance of Impairment Los
3 Prepaid Advertising 22,500
Advertising Expense
4 Unused Office Supplies 10,000
Office Supplies Expense
SAMANTHA'S MERCHANDISING BUSINESS
WORKSHEET
FOR THE MONTH OF DECEMBER

Adjusted Trial Balance Income Statement Balance Sheet

5 6 7 8 9 10
DR CR DR CR DR CR
160,200 160,200
685,000 685,000
131,500 131,500
176,000 176,000
120,120 120,120
216,000 216,000
30,000 30,000
30,000 30,000
627,040 627,040
438,500 438,500
28,000 28,000
150,000 150,000
823,000 823,000
20,000 20,000
60,000 60,000
120,000 120,000
2,000 2,000
35,000 35,000
240,000 240,000
22,500 22,500
55,000 55,000
3,000 3,000
6,300 6,300

24,000 24,000
16,380 16,380
1,040 1,040
22,500 22,500
10,000 10,000
2,126,540.00 2,126,540.00 517,880.00 687,040.00 1,608,660.00 1,439,500.00
169,160.00 169,160.00
687,040.00 687,040.00 1,608,660.00 1,608,660.00

24,000

16,380

1,040

22,500

10,000