all

Required :

1. Cash disbursement journal
2. Revenue journal
3. Cash receipt journal
4. General journal Adjusting entries
5. General journal closing entries
6. General ledger
7. Statement of comprehensive income
8. Statement of partner equity
9. Statement of financial position
10. Statement of Cash flows
11. Post closing trial balance
12. Fumar and Remulta Law Firm Worksheet

This all the requirements

Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Financial Position For the Month Ended March 31, 2020 ASSETS Cash Accounts Receivable Input VAT Total Current Asset Office Equipment Accumulated Depreciation Total Non-current Asset TOTAL ASSET Withholding Tax Payable Expanded withholding Tax Payable SSS, PH and Pag-ibig Contributions Payable Utilities Payable Accrued Percentage Tax Total Liabilities LIABILITIES PARTNER'S EQUITY Montefalco, Capital 3/31/2020 Galvez, Capital 3/31/2020 TOTAL LIABILITIES AND PARTNER'S EQUITY By: Cashier/Authorized Signature No.: 2123 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 4/03/2020 Check Voucher Water Bill (month of November) No.: 2322 Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/05/2020 Received from: R. Del Fierro With TIN and address at San Pablo, City engaged in the business style of the sum of seventeen thousand pesos (P 17,000.00). In partial/full payment for Doctors Fee By: Cashier/AuthorizedSignature No.: 9870 Villondo Warehouse San Pablo City Official Rece. 9/13 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Two thousand five hundred pesos P 2,500.00). In partial/full payment for Office supplies By: Cashier/Authorized Signature Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable By: Cashier/Authorized Signature Bank of the Philippine Island 54221 \begin{tabular}{|l|l|} \hline MONTEFALCOANDGALVEZCLINICSanPabloCity,Laguna536-5144 \\ \\ \\ Statement of Account \end{tabular} GENERAL JOURNAL AD.IIISTING FNTRIFS GENERAL JOURNAL CLOSING ENTRIES MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/17/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/20/2020 Check Voucher \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Smmarv 410 Doctors Fee 510 Salaries Fxnense 520 SSS, PH and Pag-ibig Contributions 530 Rent Expense 540 Utilities Expense 550 Sunblies Exnense 560 Transportation Expense 570 Depreciation Expense U rercentage I ax Expense SUBSIDIAKY LEUG Accounts Receivable Subsidiary Ledger -A. Mercadejas Accounts Receivable Subsidiary Ledger - A. Riego Accounts Receivable Subsidiary Ledger - V. Hidalgo Accounts Receivable Subsidiary Ledger - R. Lopez Accounts Receivable Subsidiary Ledger - A. Leviste Accounts Receivable Subsidiary Ledger - R. Elizalde GENERAL LEDGER \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} No:: 2324 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Date: 3/18/2020 Received from: A. Riego With TIN and address at San Pablo, City engaged in the business style of the sum of Iwenty four thousand pesos (P 24,000,00). In partial/full payment for Professional Fees (SOA \#15213/03/2020) By: Cashier/Authorized Signature No.: 73832 Bureau of Internal Revenue San Pablo City Official Receipt Date: 3/12/2020 Received from: Montefalco and Galvez Clinic With TIN and address at SanPablo,City engaged in the business style of the sum of one thousand three hundred pesos P 1.300.00). In partial/full payment for_Withholding Tax and Expanded Withholding Tax By: Cashier/Authorized Signature No.: 87781 Prime Water San Pablo City Official Receipt Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) By: Cashier/AuthorizedSignature No:: 2324 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Date: 3/18/2020 Received from: A. Riego With TIN and address at San Pablo, City engaged in the business style of the sum of Iwenty four thousand pesos (P 24,000,00). In partial/full payment for Professional Fees (SOA \#15213/03/2020) By: Cashier/Authorized Signature No.: 73832 Bureau of Internal Revenue San Pablo City Official Receipt Date: 3/12/2020 Received from: Montefalco and Galvez Clinic With TIN and address at SanPablo,City engaged in the business style of the sum of one thousand three hundred pesos P 1.300.00). In partial/full payment for_Withholding Tax and Expanded Withholding Tax By: Cashier/Authorized Signature No.: 87781 Prime Water San Pablo City Official Receipt Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) By: Cashier/AuthorizedSignature No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Innut VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable No.: 213 MG Center Bldg. San Pablo City Official Receipt nata. 2/ e/onon No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Reraived from * F limane7 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Montefalco and Galvez Clinic Statement of Cash Flow For the Month Ended March 31, 2020 CASH-IN ACTIVITIES Total Cash-in CASH OUT ACTIVITIES Total Cash Out NET INCREASE IN CASH Add: Cash Balance 3/1/2020 Cash Balance 3/31/2020 Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 By: Cashier/Authorized Signature Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Financial Position No.: 2117 No.: 2118 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL In January 1, 2020 Dr. Chanel Montefalco and Dr. Marem Galvez after passing the Physician Licensure Exam decided to form a partnership to open Non- VAT registered practice named Montefalco and Galvez Clinic. Each of them invested P200,000.00 and decided to have an equal sharing of profit and losses. The entity prepares a monthly financial statement; hence, adjusting and closing are made at the end of each month. Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 \begin{tabular}{||l|c|} \hline \multicolumn{2}{||}{ In Settlement of the following: } \\ \hline Particulars & Amount \\ \hline Professional Fees & 24,000.00 \\ \hline (SOA \#1521-3/03/2020) & \\ \hline & 24,000.00 \\ \hline Total Sales (VAT Indusive) & 24,000.00 \\ \hline Less: VAT & \\ \hline Total Due & 24,000.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & 24,000.00 \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Casheck } \\ \hline \multicolumn{2}{||}{} \\ \hline Check No.: \\ \hline Bank: \end{tabular} \begin{tabular}{||l|c|} \hline \multicolumn{2}{||c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Withholding Tax & 700.00 \\ \hline Exp. Withholding Tax & 600.00 \\ \hline & 1,300.00 \\ \hline Total Sales (VAT Indusive) & 1,300.00 \\ \hline Less: VAT & \\ \hline Total Due & 1,300.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & Check \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Cash } \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: 54215 \\ \hline Bank: \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Financial Position For the Month Ended March 31, 2020 ASSETS Cash Accounts Receivable Input VAT Total Current Asset Office Equipment Accumulated Depreciation Total Non-current Asset TOTAL ASSET Withholding Tax Payable Expanded withholding Tax Payable SSS, PH and Pag-ibig Contributions Payable Utilities Payable Accrued Percentage Tax Total Liabilities LIABILITIES PARTNER'S EQUITY Montefalco, Capital 3/31/2020 Galvez, Capital 3/31/2020 TOTAL LIABILITIES AND PARTNER'S EQUITY By: Cashier/Authorized Signature No.: 2123 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 4/03/2020 Check Voucher Water Bill (month of November) No.: 2322 Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/05/2020 Received from: R. Del Fierro With TIN and address at San Pablo, City engaged in the business style of the sum of seventeen thousand pesos (P 17,000.00). In partial/full payment for Doctors Fee By: Cashier/AuthorizedSignature No.: 9870 Villondo Warehouse San Pablo City Official Rece. 9/13 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Two thousand five hundred pesos P 2,500.00). In partial/full payment for Office supplies By: Cashier/Authorized Signature Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable By: Cashier/Authorized Signature Bank of the Philippine Island 54221 \begin{tabular}{|l|l|} \hline MONTEFALCOANDGALVEZCLINICSanPabloCity,Laguna536-5144 \\ \\ \\ Statement of Account \end{tabular} GENERAL JOURNAL AD.IIISTING FNTRIFS GENERAL JOURNAL CLOSING ENTRIES MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/17/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/20/2020 Check Voucher \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Smmarv 410 Doctors Fee 510 Salaries Fxnense 520 SSS, PH and Pag-ibig Contributions 530 Rent Expense 540 Utilities Expense 550 Sunblies Exnense 560 Transportation Expense 570 Depreciation Expense U rercentage I ax Expense SUBSIDIAKY LEUG Accounts Receivable Subsidiary Ledger -A. Mercadejas Accounts Receivable Subsidiary Ledger - A. Riego Accounts Receivable Subsidiary Ledger - V. Hidalgo Accounts Receivable Subsidiary Ledger - R. Lopez Accounts Receivable Subsidiary Ledger - A. Leviste Accounts Receivable Subsidiary Ledger - R. Elizalde GENERAL LEDGER \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} No:: 2324 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Date: 3/18/2020 Received from: A. Riego With TIN and address at San Pablo, City engaged in the business style of the sum of Iwenty four thousand pesos (P 24,000,00). In partial/full payment for Professional Fees (SOA \#15213/03/2020) By: Cashier/Authorized Signature No.: 73832 Bureau of Internal Revenue San Pablo City Official Receipt Date: 3/12/2020 Received from: Montefalco and Galvez Clinic With TIN and address at SanPablo,City engaged in the business style of the sum of one thousand three hundred pesos P 1.300.00). In partial/full payment for_Withholding Tax and Expanded Withholding Tax By: Cashier/Authorized Signature No.: 87781 Prime Water San Pablo City Official Receipt Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) By: Cashier/AuthorizedSignature No:: 2324 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Date: 3/18/2020 Received from: A. Riego With TIN and address at San Pablo, City engaged in the business style of the sum of Iwenty four thousand pesos (P 24,000,00). In partial/full payment for Professional Fees (SOA \#15213/03/2020) By: Cashier/Authorized Signature No.: 73832 Bureau of Internal Revenue San Pablo City Official Receipt Date: 3/12/2020 Received from: Montefalco and Galvez Clinic With TIN and address at SanPablo,City engaged in the business style of the sum of one thousand three hundred pesos P 1.300.00). In partial/full payment for_Withholding Tax and Expanded Withholding Tax By: Cashier/Authorized Signature No.: 87781 Prime Water San Pablo City Official Receipt Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) By: Cashier/AuthorizedSignature No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Innut VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable No.: 213 MG Center Bldg. San Pablo City Official Receipt nata. 2/ e/onon No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Reraived from * F limane7 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Montefalco and Galvez Clinic Statement of Cash Flow For the Month Ended March 31, 2020 CASH-IN ACTIVITIES Total Cash-in CASH OUT ACTIVITIES Total Cash Out NET INCREASE IN CASH Add: Cash Balance 3/1/2020 Cash Balance 3/31/2020 Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended March 31, 2020 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 By: Cashier/Authorized Signature Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Received from: E.Jimenez With TIN and address at Alaminos, Laguna engaged in the business style of the sum of Twenty three thousand pesos (P 23,000.00). In partial/ full payment for Professional Fees. By: Cashier/Authorized Signature Official Receipt Date: 3/20/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. By: Cashier/Authorized Signature No.: 67854 SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna Official Receipt Date: 3/17/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature \begin{tabular}{||l|c|} \hline \multicolumn{2}{|c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Doctors Fee & 17,000.00 \\ \hline & \\ \hline Total Sales (VAT Indusive) & 17,000.00 \\ \hline Less: VAT & 17,000.00 \\ \hline Total Due & \\ \hline Less: Withholding Tax & \\ \hline Amount Due & 17,000.00 \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & \\ \hline VAT-Exempt Sales & 17,000.00 \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{} \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: \\ \hline Bank: \\ \hline \multicolumn{2}{|c|}{} \\ \hline \end{tabular} Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Financial Position No.: 2117 No.: 2118 CASH DISBURSEMENT JOURNAL Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 REVENUES Doctors Fee OPERATING EXPENSES Salaries Expenses SSS, PH and Pag-ibig Contributions Rent Expense Utilities Expense Supplies Expense Depreciation Expense Percentage Tax Expense Miscellaneous Expense Total Expense Net Income Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 \begin{tabular}{|c|c|c|c|} \hline & Dr. Montefalco & Dr. Galvez & Total \\ \hline Beginning Capital & & & \\ \hline Drawing & & & \\ \hline Net Income & & & \\ \hline Ending Capital & & & \\ \hline \end{tabular} Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A, General Journal C) REVENUES JOURNAL CASH RECEIPT JOURNAL In January 1, 2020 Dr. Chanel Montefalco and Dr. Marem Galvez after passing the Physician Licensure Exam decided to form a partnership to open Non- VAT registered practice named Montefalco and Galvez Clinic. Each of them invested P200,000.00 and decided to have an equal sharing of profit and losses. The entity prepares a monthly financial statement; hence, adjusting and closing are made at the end of each month. Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 \begin{tabular}{||l|c|} \hline \multicolumn{2}{||}{ In Settlement of the following: } \\ \hline Particulars & Amount \\ \hline Professional Fees & 24,000.00 \\ \hline (SOA \#1521-3/03/2020) & \\ \hline & 24,000.00 \\ \hline Total Sales (VAT Indusive) & 24,000.00 \\ \hline Less: VAT & \\ \hline Total Due & 24,000.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & 24,000.00 \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Casheck } \\ \hline \multicolumn{2}{||}{} \\ \hline Check No.: \\ \hline Bank: \end{tabular} \begin{tabular}{||l|c|} \hline \multicolumn{2}{||c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Withholding Tax & 700.00 \\ \hline Exp. Withholding Tax & 600.00 \\ \hline & 1,300.00 \\ \hline Total Sales (VAT Indusive) & 1,300.00 \\ \hline Less: VAT & \\ \hline Total Due & 1,300.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & Check \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Cash } \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: 54215 \\ \hline Bank: \\ \hline \end{tabular}