Accounts Receivable Subsidiary Ledger Balances as at September 30, 2018 Cardenas Marketing Tresma Mata Store P 17,920.00 Del Mundo Shirts Station Marasigan Enterprises Modesto Bargain House Selisana Garments Calamba Commercial Total On Furniture & Fixtures, Equipment On Service Vehicle Prepaid Insurance Policy Coverage Coverage Fire or Lightning Comprehensive 6,720.00 89,600.00 78,400.00 26,880.00 49,280.00 44,800.00 P313,600.00 Policy Term 01/01/2018 to Total Amount P15,000 01/01/2019 04/08/2018 to 18,000 04/08/2019 Property and Equipment Cost Acquired On Other Depreciation Factors Furniture & Fixtures: Batch 1 Batch 2 P450,000 200,000 P650,000 Oct. 2, 2017 Apr. 7, 2018 10% salvage, 15% a year 10% salvage, 15% a year Equipment: Batch 1 P485,000 Oct. 5, 2017 Batch 2 250,000 Jan. 8, 2018 20% salvage, 4 years 20% salvage, 4 years P735,000 Service Vehicle: P410,000 Apr. 8, 2018 P80,000 salvage, 5 years 10 10 Unpaid Vouchers By Due Date Balances as at September 30, 2018 Due Date Voucher Payee No. 10/03/2018 193 Camiseria Palaganas 10/09/2018 198 Bisana Marketing 10/10/2018 200 Social Security System Amount P 26,880.00 Account Classification Accounts Payable 224,000.00 Accounts Payable SSS and EC 15,650.00 Contributions Payable 10/10/2018 201 Bureau of Internal Revenue- 14,170.98 Withholding Taxes Withholding Taxes on Salaries Payable 10/10/2018 197 Burgos Shirts 44,800.00 Accounts Payable 10/11/2018 202 PhilHealth PhilHealth 5,857.50 Contributions Payable 10/13/2018 199 Mones Trading 10/15/2018 203 Pag-IBIG Fund 112,000.00 Accounts Payable Pag-IBIG 1,800.00 Contributions Payable 10/24/2018 195 Victorino Wears 24,640.00 Accounts Payable 10/25/2018 204 Bureau of Internal Revenue-VAT 63,003.00 VAT Payable P532,801.48 Unpaid Vouchers By Account Classification Balances as at September 30, 2018 Accounts Payable P432,320.00 SSS and EC Contributions Payable 15,650.00 PhilHealth Contributions Payable 5,857.50 Pag-IBIG Contributions Payable 1,800.00 Withholding Taxes Payable 14,170.98 Value-Added Tax Payable 63,003.00 P532,801.48 11 Oct. 9 Issued Check No. 081194 to Bisana Marketing in full settlement of the Sept. 29 purchase under Voucher No. 198; supplier's Invoice No. 0531; terms 2/10, n/30. Specific instructions: Review the terms of the transaction to ascertain if the payment is made within the discount period. Purchases discounts, if any, should be adjusted for the input VAT. Check on the availability of cash. Write the check and update the summary form. Record the transaction in the check register. 10 Issued Check No. 081195 in payment of Voucher No. 200 payable to the Social Security System for the September contributions to the SSS and EC fund, P15,650. Specific instructions: Record in the check register. Get SSS Form R-5 and fill in all applicable spaces. Also, try to accomplish SSS Form R-3. 10 Issued Check No. 081196 in payment of Voucher No. 201 payable to the Bureau of Internal Revenue for withholding taxes on salaries of P14,170.98 as at end of September. Specific instructions: Detach, scan the contents and prepare BIR Form No. 1601-C, Monthly Remittance Return of Income Taxes Withheld on Compensation. Fill in all applicable spaces by referring to the payroll register and the supporting schedule on withholding taxes (on pages 37-40). 11 Issued Check No. 081197 in payment of Voucher No. 202 payable to the Philippine Health Insurance Corp. for the September contributions to the PhilHealth fund, P5,857.50. Specific instructions: Record in the check register. Get PhilHealth Form RF-1 and fill in all applicable spaces. 12 Sold merchandise on account to Modesto Bargain House, P53,760. Issued Sales Invoice No. 256. 12 Received payment in full from Marasigan Enterprises for the sale made on Sept. 12 under Sales Invoice No. 235. Issued Official Receipt No. 236. 12 Acquired an executive desk and chair on account from Medina Office Systems, P40,320; supplier's Invoice No. 0431; terms n/30. Recorded Voucher No. 210. 13 Issued Check No. 081198 to Mones Trading in full settlement of the Sept. 28 purchase under Voucher No. 199; supplier's Invoice No. 089; terms 1/15, n/20. Oct. 15 Cash sales for the period ended Oct. 15 were P344,960. 15 Recorded Voucher No. 211 for the semi-monthly payroll in the amount of P104,956.935. Issued Check No. 081199 in payment of this voucher. Specific instructions: Refer to the completed payroll register. Exert some effort to recompute SSS, PhilHealth, Pag-IBIG and withholding taxes of at least three employees using the tables and rates provided (on pages 41- 43). With regard to the Pag-IBIG contribution, the employer contributes only to the extent of P100. 15 Recorded Voucher No. 212 for supplies purchased from Geron 15 15 Merchandising for P6,720; supplier's Invoice No. 0123. Issued Check No. 081200 in payment of this voucher. Issued Check No. 081201 to Burgos Shirts in settlement of the purchase made on Sept. 25 under Voucher No. 197; supplier's Invoice No. 2183; terms 1/15, n/60. Issued Check No. 081202 in payment of Voucher No. 203 payable to the Pag- IBIG Fund for the Sept. contributions, P1,800. Specific instructions: Fill in the applicable spaces in the Pag-IBIG Member's Contribution Remittance Form (MCRF). 16 Sold merchandise with a list price of P112,000 to Selisana Garments on account. A trade discount of ten percent was granted. Issued Sales Invoice No. 257. 16 Received merchandise purchased on account from Bisana Marketing, P134,400; supplier's Invoice No. 0563; terms 2/10, n/30. Recorded Voucher No. 213. 17 Returned the executive chair purchased from Medina Office Systems on Oct. 12 and received Credit Memorandum No. 057 for P11,200. Cancelled original Voucher No. 210 and issued Voucher No. 214. 17 Issued Check No. 081203 to Blanche Manufacturing Company in payment of Voucher No. 209. 18 Recorded Voucher No. 215 payable to Andam Repairs for equipment repairs, P5,600; Service Invoice No. 257. Issued Check No. 081204. 15 Oct. 19 Sold merchandise on account to Marasigan Enterprises, P64,960. Issued Sales Invoice No. 258. 19 Received payment from Cardenas Marketing on the sale made on Sept. 19, Sales Invoice No. 244, Issued Official Receipt No. 237. 19 Accepted a P33,600, 60-day, 12% note dated Oct. 19 from Calamba Commercial in settlement of the open account. Specific instructions: Verify the existence of the open account by referring to the accounts receivable subsidiary ledger. Record in the general journal and post to the subsidiary ledger. 20 Purchased merchandise on account from Camiseria Palaganas, P112,000; supplier's Invoice No. 1898; terms n/30. Recorded Voucher No. 216. 22 Cash sales for the period ended Oct. 22 were P328,720. 22 Recorded Voucher No. 217 payable to Galang Freight Services for freight on the recent shipment from Bisana Marketing, P3,360; Waybill No. 80534. Issued Check No. 081205. 22 Received payment in full from Modesto Bargain House for the Oct. 12 sale under Sales Invoice No. 256. Issued Official Receipt No. 238. 23 Recorded Voucher No. 218 for the maturity value of the 120-day, 12% note dated June 25, 2015 payable to the Doa Deogracia Corpuz Development Bank. Interest was accrued on the note through Sept. 30. Issued Check No. 081206 in payment of this voucher. 23 Recorded Voucher No. 219 payable to Gamba Supplies for supplies, P7,100.80; supplier's Invoice No. 358. Issued Check No. 081207. 24 Purchased merchandise on account from Burgos Shirts, P112,000; supplier's Invoice No. 2301; terms 1/15, n/60. Recorded Voucher No. 220. 24 Received a check from Matuguinas Sales for the maturity value of her 60- day, 10% note dated August 25, 2015. Interest was accrued on the note through Sept. 30. Issued Official Receipt No. 239. 24 Issued Check No. 081208 to Victorino Wears in settlement of Voucher No. 195 on the Sept. 24 purchase; supplier's Invoice No. 9361; terms n/30. 25 Issued Check No. 081209 in payment of Voucher No. 204 payable to the Bureau of Internal Revenue for value-added tax due for the month of September, P63,003. Specific instructions: Fill in the applicable spaces in the BIR Form 2550Q, the Quarterly VAT Return. Oct 16