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    Gagaga Gag

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    Russell Von Domingo
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    Gagaga Gag

    Uploaded by

    Russell Von Domingo
    11 views4 pages
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    Copyright:

    © All Rights Reserved
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    Download as xlsx, pdf, or txt
    11 views4 pages

    Gagaga Gag

    Uploaded by

    Russell Von Domingo
    AD

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Income Statement For the Year Ended, Dec.

    31, 2013

    Sales 731,000.00
    Less: Sales Return and Allowances 18,030.00
    Sales Discounts 10,400.00 28,430.00
    Total Sales 702,570.00
    DIRECT EXPENSES:
    Merchandise Inventory, Jan. 1, 2013 69,350.00
    Purchases 364,000.00
    Less: Purchase Return and Allo 3,400.00
    Purchase Discounts 1,990.00 358,610.00
    Total Goods Available for Sale 427,960.00
    Less: Merchandise Inventory, Dec. 31, 2013 65,520.00 362,440.00
    Cost of Good Sold 1,065,010.00
    Less: General Expense 116,700.00
    Interest Expense 5,400.00
    Selling Expenses 132,900.00
    Supplies 5,100.00 260,100.00
    Net Income before Tax 804,910.00
    Bank Reconciliation
    Amolo Fabricator
    May 31, 2013

    Balance as per depositor's record, May 31, 2013 57,815.00


    Add: Interest income from bank
    Collections 8,361.50
    Deposit Understated
    Interest income from note receivble 20,800.00 29,161.50
    86,976.50

    Less: NSF Check charge 7,100.00


    Cost of Checkbook 300.00
    7,821.50
    Check# 1181 error 270.00
    Bank Service Fee
    Bank Collection Fee 200.00
    Error on collections recorded 100.00
    Error on check# 6,000.00
    21,791.50
    Adjusted cash balance 65,185.00

    Balance as per bank statement, May 31, 2013 68,586.00


    Add: Deposit in Transit 9,361.50

    77,947.50
    Deduct: Outstanding Checks 12,762.50
    Bank error Check#
    Check#
    Bank error Check# 1181
    12,762.50
    Adjusted cash balance 65,185.00 -
    12-May-13 Sales 100.00
    Cash in Bank 100.00
    To correct sales entry and deposit on May 12, 2013

    18-May-13 Accounts Payable-Cifra Steel 270.00


    Cash in Bank 270.00
    To correct entry made on cifra steel

    31-May-13 Cash In Bank 20,800.00


    Accrued Interest 800.00
    Notes Receivable 20,000.00
    To record notes receivable collected by bank and interest

    31-May-13 Bank Charge-Gomez Realty 7,100.00


    Cash in Bank 7,100.00

    31-May-13 Bank Charge 300.00


    Cash in Bank 300.00
    To record cost of 2 checkbookets

    28,570.00 28,570.00
    -
    Amount Vat Purchase Vat Input

    1 43,750.00 39,062.50 4,687.50


    2 10,974.00 9,798.21 1,175.79
    3 4,123.00 3,681.25 441.75
    4 9,755.00 8,709.82 1,045.18
    5 4,620.00 4,125.00 495.00
    6 43,912.77 39,207.83 4,704.94
    7 110,975.77 99,085.51 11,890.26
    8 11,500.00 10,267.86 1,232.14
    9 14,475.00 12,924.11 1,550.89
    10 4,681.15 4,179.60 501.55
    11 17,528.68 15,650.61 1,878.07
    12 9,205.00 8,218.75 986.25
    13 6,103.19 5,449.28 653.91
    14 9,600.00 8,571.43 1,028.57
    15 5,700.00 5,089.29 610.71
    16 4,750.00 4,241.07 508.93
    17 5,830.00 5,205.36 624.64
    18 5,960.00 5,321.43 638.57
    19 5,700.00 5,089.29 610.71
    20 6,500.00 5,803.57 696.43
    335,643.56 299,681.75 35,961.81

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