Year Month Day Particulars Amount

2015
October
1 Account Receivable 56,000.00
Output Tax 6,000.00
Sales 50,000.00
to record the sales sold to Cardenas Marketing

Cash 87,808.00
Output Vat 192.00
Sales Discount 1,600.00
Account Receivable 89,600.00
to record the payment of Del Mundo Shirts Station

2 Purchases 160,000.00
Input VAT 19,200.00
Voucher Payable 179,200.00
to record the merchandise purchased to Blanche Mftg Co.

Transportation In 1,000.00
Input VAT 120.00
Voucher Payable 1,120.00
to record the freight of Tria Forwarders from Blanche Mftg Co.

3 Cash 26,880.00
Voucher Payable 26,880.00

4 Account Receivable 22,400.00

Output Tax 6,000.00
Sales 50,000.00

Provision for Merchandise

4 Inventory Return 4,480.00
Output Vat 480.00
Sales Returns and All. 4,000.00
 KASHATO SHIRTS COMPANY
Income Statement
For The Month Ended October 31, 2015

Gross Sales 1,896,200.00

less:
Sales Discounts 5,720.00
Sales Returns and Allowances 4,000.00 9,720.00
Net Sales 1,886,480.00
Merchandise Inventory 10/1/2015 871,200.00
Purchases 684,400.00
Transportation In 4,000.00
Purchases Discounts (10,400.00)
Purchases Returns and Allowances (10,000.00) (16,400.00)
Total Available for Sale 1,539,200.00
Merchandise Inventory 10/31/2015 (700,360.00)
Cost of Goods Sold 838,840.00
Gross Profit 1,047,640.00
Advertising Expense 8,000.00
Supplies Expense 22,772.00
Insurance Expense 2,750.00
Selling Expenses 33,522.00
Rent Expense 50,000.00
Utilities Expense 22,300.00
Repairs and Maintenance 7,400.00
Salaries Expense 233,000.00
SSS and EC Contribution 10,313.60
PhilHealth Contribution 2,587.50
Pag-IBIG Contribution 900.00
Uncollectible Account Expense 4,771.20
Depreciation Expense-Furniture and Fixture 7,056.00
Depreciation Expense-Equipment 12,250.00
Depreciation Expense-Service Vehicle 5,500.00
Miscellaneous Expence 784.00
Interest Expense 3,833.33
Administrative Expenses 360,695.63
Total Operating Expenses 394,217.63
Total 653,422.37
Interest Income 1,600.00
Profit 655,022.37
 KASHATO SHIRTS COMPANY
Statement Of Changes in Equity
For The Month Ended October 31, 2015

Therese Ballada,Owner's Equity- 10/1/2015 2,501,008.67

Add: Profit 655,022.37
Total 3,156,031.04
Less: Withdrawal (205,000.00)
Therese Ballada,Owner's Equity- 10/31/2015 2,951,031.04
 KASHATO SHIRTS COMPANY
Balance Sheet
October 31, 2015

Asset
Current Assets
Cash 876,653.66
Petty Cash 16,000.00
Notes Receivable 33,600.00
Ineterest Receivable 134.40
Account Receivable 165,760.00
Allowance For Uncollectible Accounts (7,459.20)
Merchandise Inventory 700,360.00
Supplies 9,500.00
Prepaid Insurance 10,000.00
Prepaid Rent 100,000.00
Total Current Assets 1,904,548.86
Non-Current Assets
Furniture and Fixtures 676,000.00
Accumulated Dep.-Furniture and Fixture (81,306.00)
Equipment 735,000.00
Accumulated Dep.-Equipment (146,750.00)
Service Vehicle 410,000.00
Accumulated Dep.-Service Vehicle (38,500.00)
Rent Deposit 150,000.00
Utilities Deposit 18,500.00
Total Non-Current Assets 1,722,944.00
Total Assets 3,627,492.86

Liabilities
Current Liabilities
Accounts Payable 482,049.00
SSS and EC Contribution Payable 15,400.00
PhilHealth Contribution Payable 5,175.00
PAG-IBIG Contribution Payable 1,800.00
Withholding Tax Payable 34,721.02
Output vat 14,052.00
Value Added Tax Payable 123,050.40
Total Liabilities 676,247.42

Owner's Equity
Therese Ballada, Owner's Equity 10/31/2015 2,951,031.04 2,951,031.04
Total Liabilities and Equity 3,627,278.46
 KASHATO SHIRTS COMPANY
Statement of Cash Flows
For The Month Ended October 31, 2015

Cash Flows from Operating Expenses

Cash Received from Client
Payments to Suppliers
Payments to Employees
Payments to Office Rent
Payments for maintenance
Payments for Merchandise Inventory
Net Cash for Operating Activities

Cash Flows from Investing Activities

Payments to acquire service vehicle
Payments to acquire equipment
Payments to acquire equipment
Payments to acquire equipment
Net Cash for Investing Activities

Cash Flows from Financing Activities

Cash received as investment by owner
Payments for withdrawals by owner
Net increase in cash
Cash Balance 10/1/2015
Cash Balance 10/31/2015
 KASHATO SHIRTS JOURNAL
Cash Receipt Journal
For the Month of October 2015

Debit

Sales
Date O.R. # Descriptions Cash Output Vat Discount
10/1/2017 232 Del Mundo Shirts Station 87,808.00 192.00 1,600.00
10/5/2015 233 Selisana Garments 48,294.40 105.60 880.00
10/8/2015 Cash Sales 418,432.00
10/8/2015 234 Modesto Bargain House 26,342.40 57.60 480.00
10/8/2015 235 Calamba Commercial 11,200.00
10/12/2015 236 Marasigan Enterprises 78,400.00
10/15/2015 Cash Sales 344,960.00
10/19/2015 237 Cardenas Marketing 17,920.00
10/22/2015 238 Modesto Bargain House 52,684.80 115.20 960.00
10/22/2015 Cash Sales 328,720.00
10/24/2015 239 Matuguinas sales 244,000.00

10/26/2015 240 Selisana Garments 98,784.00 216.00 1,800.00

10/30/2015 241 Cardenas Marketing 56,000.00
10/31/2015 Cash Sales 567,952.00
10/31/2015 242 Marasigan Enterprises 64,960.00
Total 2,446,457.60 686.40 5,720.00
# 100 230-2 401
KASHATO SHIRTS JOURNAL
Cash Receipt Journal
r the Month of October 2015

Credit

Account OTHER ACCOUNTS

Receivable Output Tax Sales Acct Title # Amount
89,600.00
49,280.00
44,832.00 373,600.00
26,880.00
11,200.00
78,400.00
36,960.00 308,000.00
17,920.00
53,760.00
35,220.00 293,500.00
Note Receivable 110 240,000.00
Interest Income 410 1,600.00
Interest Receivable 111 2,400.00
100,800.00
56,000.00
60,852.00 507,100.00
64,960.00
548,800.00 177,864.00 1,482,200.00 244,000.00
112 230-2 400
 KASHATO SHIRTS JOURNAL
Sales Journal

Debit
Sales Account
Date Invoice # Account Debited Receivable Output Tax Sales
10/1/2015 254 Cardenas Marketing 56,000.00 6,000.00 50,000.00
10/4/2015 255 Del Mundo Shirts Station 22,400.00 2,400.00 20,000.00
10/12/2015 256 Modesto Bargain House 53,760.00 5,760.00 48,000.00
10/16/2015 257 Selisana Garments 100,800.00 10,800.00 90,000.00
10/19/2015 258 Marasigan Enterprises 64,960.00 6,960.00 58,000.00
10/29/2015 259 Modesto Bargain House 89,600.00 9,600.00 80,000.00
10/31/2015 260 Feliciano Outlifters 76,160.00 8,160.00 68,000.00
Total 463,680.00 49,680.00 414,000.00
# 112 230-2 400
KASHATO SHIRTS JOURNAL
Voucher Register

Date Credit
Voucher Voucher
Date # Payee Terms Paid Check No. Payable
10/2/2015 205 Blanche Manufacturing Co. 2/15, n/60 Cancelled v# 209 179,200.00
10/2/2015 206 Tria Forwarders check 10/2/2015 081191 1,120.00
10/4/2015 207 Salvador Services check 10/4/2015 081192 2,688.00
10/5/2015 208 Manalo Shirts Factory n/30 22,848.00
10/5/2015 209 Blanche Manufacturing Co. 2/15, n/60 10/17/2015 081203 168,000.00

10/12/2015 210 Medina Office Systems n/30 Cancelled v# 214 40,320.00

10/15/2015 211 Kashato Shirts Employees check 10/15/2015 081199 94,852.54

10/15/2015 212 Geron Merchandising COD 10/15/2015 081200 6,720.00

10/16/2015 213 Bisana Marketing 2/15, n/30 10/26/2015 081210 134,400.00
10/17/2015 214 Medina Office Systems n/30 29,120.00

10/18/2015 215 Andam Repairs check 10/18/2015 081204 5,600.00

10/20/2015 216 Camiseria Palaganas n/30 112,000.00
10/22/2015 217 Galang Freight Services check 10/22/2015 081205 3,360.00
218 Doña Deogracia Corpuz
10/23/2015 check 10/23/2015 081206
Development Bank 520,000.00

10/23/2015 219 Gamba Supplies check 10/23/2015 081207 7,100.80

10/24/2015 220 Burgos Shirts 1/15, n/60 112,000.00
10/26/2015 221 Blanche Mftg Company 2/15, n/60 206,080.00
10/29/2015 222 Theresa Ballada check 10/29/2015 081211 160,000.00
10/29/2015 223 Winston Apalisoc check 10/29/2015 081212 6,216.00

10/30/2015 224 Meralco check 10/30/2015 081213 16,800.00

10/30/2015 225 Mabuhay Phil. Telephone Co. check 10/30/2015 081214 8,176.00
10/30/2015 226 People's Journal check 10/30/2015 081215 8,960.00
10/31/2015 227 Kashato Shirts Employees check 10/31/2015 081216 94,852.54
10/31/2015 228 SSS and EC Contribution 15,650.00

10/31/2015 229 PhilHealth Contribution 5,175.00

10/31/2015 230 Pag-IBIG Contribution 1,800.00

10/31/2015 231 BIR 34,721.02

10/31/2015 232 Therese Ballada check 10/31/2015 081217 45,000.00
Total 2,042,759.90
# 240
 Debit Others
Account Amount
Purchases Input VAT Account Titles No. Debit Credit
160,000.00 19,200.00
120.00 Transportation In 501 1,000.00
288.00 Repairs and Maintenance Expense 605 2,400.00
20,400.00 2,448.00
Vouchers Payable 240 179,200.00
Purchase Returns and All. 503 10,000.00
Input VAT 230-1 1,200.00
4,320.00 Furnitures and Fixtures 150 36,000.00
Salaries Expense 610 116,500.00
SSS and EC Contribution 211 2,543.20
PhilHealth Contribution 212 1,293.75
Pag-IBIG Contribution 213 450.00
Withholding Tax Payable 214 17,360.51
720.00 Supplies 130 6,000.00
120,000.00 14,400.00
Vouchers Payable 240 40,320.00
Furnitures and Fixtures 150 10,000.00
Input VAT 230-1 1,200.00
600.00 Repairs and Maintenance Expense 605 5,000.00
100,000.00 12,000.00
360.00 Transportation In 501 3,000.00
Notes Payable
650
500,000.00
Interest Expense 200 3,833.33
Interest Payable 201 16,166.67
760.80 Supplies 130 6,340.00
100,000.00 12,000.00
184,000.00 22,080.00
Therese Ballada, withdrawal 301 160,000.00
Supplies 130 5,432.00
Miscellaneous Expense 640 784.00
1,800.00 Utility Expense 604 15,000.00
876.00 Utility Expense 604 7,300.00
960.00 Advertising Expense 600 8,000.00
Salaries Expense 610 116,500.00
SSS and EC Contribution 211 2,543.20
PhilHealth Contribution 212 1,293.75
Pag-IBIG Contribution 213 450.00
 Withholding Tax Payable 214 17,360.51
SSS and EC Contribution Expense 611 10,563.60
SSS and EC Contribution Payable 211 5,086.40
PhilHealth Contribution Expense 612 2,587.50
PhilHealth Contribution Payable 212 2,587.50
Pag-IBIG Contribution Expense 613 900.00
Pag-IBIG Contribution Payable 213 900.00
Withholding Tax Payable 214 34,721.02
Therese Ballada, withdrawal 301 45,000.00
684,400.00 92,932.80 1,331,122.02 65,694.92
500 230-1
KASHATO SHIRTS JOURNAL
Check Register

Check Debit Credit

Voucher
No. Date Payee No. Voucher Payable Purchases Discount Input Tax
2015
October
081191 2 Tria Forwarders 206 1,120.00
081192 3 Camiseria Palaganas 193 26,880.00
081193 4 Salvador Services 207 2,688.00
081194 4 SSS 200
081195 9 Bisana Marketing 193 224,000.00 4,000.00 480.00
081196 10 SSS and EC Contribution 200 15,650.00
081197 10 BIR 201 34,721.02
081197 11 PhilHealth 202 5,175.00
081198 13 Mones Trading 199 112,000.00 1,000.00 120.00
081199 15 Kashato Shirts Employee 211 94,852.54
081200 15 Geron Merchandising 212 6,720.00
081201 15 Burgos Shirts 197 44,800.00
081202 15 Pag-IBIG 203 1,800.00
081203 17 Blanche Manufacturing 209 168,000.00 3,000.00 360.00
081204 18 Andam Repairs 215 5,600.00
081205 22 Galang Freight Services 217 3,360.00
081206 23 Doña Deogracia Corpuz 218 520,000.00
081207 23 Gamba Supplies 219 7,100.80
081208 24 Victorino Wears 195 24,640.00
081209 25 BIR 204 63,003.00
081210 26 Bisana Marketing 213 134,400.00 2,400.00 288.00
081211 29 Therese Ballada 222 160,000.00
081212 29 Winston Apalisoc 223 6,216.00
081213 30 Meralco 224 16,800.00
081214 30 Mabuhay Phil. Telephone 225 8,176.00
081215 30 People's Journal 226 8,960.00
081216 31 Kashato Shirts Employee 227 94,852.54
081217 31 Therese Ballada 232 45,000.00
1,836,514.90 10,400.00 1,248.00
240 502 230-1
Credit

Cash

1,120.00
26,880.00
2,688.00

219,520.00
15,650.00
34,721.02
5,175.00
110,880.00
94,852.54
6,720.00
44,800.00
1,800.00
164,640.00
5,600.00
3,360.00
520,000.00
7,100.80
24,640.00
63,003.00
131,712.00
160,000.00
6,216.00
16,800.00
8,176.00
8,960.00
94,852.54
45,000.00
1,824,866.90
100
KASHATO SHIRTS JOURNAL
Check Summary

Date Check No. Particulars Deposit Withdrawal

2015
September 30 Balance Brought Forward
October
1 Del Mundo Shirts Station 87,808.00
2 081191 Tria Forwarders 1,120.00
3 081192 Camiseria Palaganas 26,880.00
4 081193 Salvador Services 2,688.00
5 081194 Selisana Garments 48,294.40
5 Cash Sales 418,432.00
8 Modesto Bargain House 26,342.40
8 Calamba Commercial 11,200.00
9 Bisana Marketing 219,520.00
9 081195 SSS and EC Contribution 15,650.00
10 081196 BIR 34,721.02
10 081197 PhilHealth 5,175.00
13 Marasigan Enterprises 78,400.00
13 081198 Mones Trading 110,880.00
15 081199 Kashato Shirts Employees 94,852.54
15 081200 Geron Merchandising 6,720.00
15 081201 Burgos Shirts 44,800.00
15 081202 Pag-IBIG 1,800.00
16 Cash Sales 344,960.00
17 081203 Blanche Manufacturing Co. 164,640.00
18 081204 Andam Repairs 5,600.00
20 Cardenas Marketing 17,920.00
22 081205 Galang Freight Services 3,360.00
23 Cash Sales 328,720.00
22 Modesto Bargain House 52,684.80
23 081206 Doña Deogracia Corpuz
Development Bank 520,000.00
23 081207 Gamba Supplies 7,100.80
24 081208 Victorino Wears 24,640.00
24 Matuguinas sales 244,000.00
25 081209 BIR 63,003.00
26 081210 Bisana Marketing 131,712.00
27 Selisana Garments 98,784.00
29 081211 Therese Ballada 160,000.00
29 081212 Winston Apalisoc 6,216.00
30 081213 Meralco 16,800.00
30 081214 Mabuhay Phil. Telephone Co. 8,176.00
30 081215 People's Journal 8,960.00
31 Cardenas Marketing 56000
31 Kashato Shirts Employees 94,852.54
31 Therese Ballada 45,000.00
31 Cash Sales 567,952.00
31 Marasigan Enterprises 64,960.00
2,446,457.60 1,824,866.90

4390.4
Balance

237,052.36

324,860.36
323,740.36
296,860.36
294,172.36
342,466.76
760,898.76
787,241.16
798,441.16
578,921.16
563,271.16
528,550.14
523,375.14
601,775.14
490,895.14
396,042.60
389,322.60
344,522.60
342,722.60
687,682.60
523,042.60
517,442.60
535,362.60
532,002.60
860,722.60
913,407.40

393,407.40
386,306.60
361,666.60
605,666.60
542,663.60
410,951.60
509,735.60
349,735.60
343,519.60
326,719.60
318,543.60
309,583.60
365,583.60
270,731.06
225,731.06
793,683.06
858,643.06

789,292.66