Hello there. I'm not sure if this topic is financial or accounting. sorry if I posted this here if my mistake. I have attached photos here that lecturer posted. Examples are given hence, I'm still totally lost and can't tally base on my own calculations.Please help me decipher/breakdown where and how did this samples given arrived at these answers (THE TRIAL BALANCE) I have ticked them red for all that I need clarifications. Thank you so much (",@)..

The last photo maybe is too blur to see so ill .

Hello I'm posting this again. I pressed something by accident earlier so again here. kindly help dechiper where and how the EBC Superstore TRIAL BALANCE March 31,2017 arrived to those answers for CREDIT & DEBIT. The cash 628,804, account receivable 8,500, notes receivable 30,000 delivery equipment 10,000, account payable 49,500, notes payable 10,000 sales 485,800, sales returns and allowances 2000, purchases 350,000, wages expense 11,000 My calculations doesn't matched. kindly breakdown please and thank you. pls forget about the RED THICKED I said earlier. photo was blur. Maybe the last PHOTO here. photos here are in order how the lecturer gave these examples.

tlustrative Problem B.1 Joumaltzing Merchandising Transactions laurnalize the transactions of EBC Superstore for the month of March 2017using both the Peefodic ievenbory system and the perpetual inventory system. Mar 1 EBC invested P 500,000 cash and a piece of land wits & building in a grocery busthess. The land and bunding are worth P 300,000 and P 200,000, respectively The buiding will be used as the store Har 2 Bought for rash furniture, PS, 000 and store supplies P1,000 Mar4 Purchased merchandise warth P 300,000 paying 1/3 and the balance on credit terms of 2/30, petoom Fundamertais of Accoustng Part 1 Accounting for Merchandising Operations Mar S Reburned defective merchandise worth P 10,000 Paid beight fee the abase purchases P5.500. Mar 6 5oM goods for cash P13500 (COst, P&S00) Mar 10 Salea: Cash, P25 500n credit P 16.1800, terms 2/10, n/s0. (enst of goods suld [P24. 100) Mar 11 Received merchandise returned by the custommer an redit on March 10, P Mar 5 Returned defective merchandise worth P 10,000. Paid freight for the above purchases, P 5,500. Mar 6 Sold goods for cash, P 13,500 (cost, P 8,500) Mar 10 Sales: Cash, P25, 500; on credit P 16,800, terms. 2/10, n/30. (cost of goods sold (P24, 100) Mar 11 Received merchandise returned by the customer on credit on March 10, P 2000 (cost P1, 000). Mar 12 Bought delivery equipment worth P 10,000 on account. Issued a 12% 90. day note. Mar 13 Paid the amount due on March 4 Mar 15 Sales for the last five days: Cash P70, 000; on account P 25,000, (cost, BP 60,000) Mar 15 Paid wages of store helpers, p 5,00o. Mar 16 Received delivered purchased merchandise worth P 50,000 on credit. Terms 2/10, n/30. Mar 17 The supplier on March 16 granted EBC an allowance of P500 for merchandise with minor defects but were not returned, Mar 20 Cash Sales from March 16 to March 20, P 100,000 (cost, P 48,500) Collected the amount due on March 10. Mar 22 Paid the following expenses: insurance, P 3,000; advertising, P 1,000. Mar 23 Received 1/h of the amount due from customers on March 15. Mar 26 Sales from March 21 to March 25, P 85,000, 10% of which is on account (cost, P 55,000) Mar 27 Received the full amount due on March 15 Mar 31 Sales from March 26 to Mar 31, P 150,000, 20% of which is on account where EBC received a 12%, 45-day note (cost, P115, 500) Mar 31 Paid the following: Salaries, P 6,000, Utilities, P 3,500. Mar 17 Accounts Payable 500 Mar 5 Cost of Goods Sald 50,000 Merchandise Inventory Wages Erpense Paid wages of store helpers. Purchase Returns and Allowances Allowance for unreturned merchandise. 500 20 Cash 100,000 es 100,000 16 Merchandise Inventory Sold merchandise Accounts Payable Purchased merchandise on account. 50,000 14,504 296 20 CAsh 17 Accounts Payable 500 Sales Discount Merchandise Inventory owance for unreturned merch an dis e. 500 Accounts Receivable Collection from customers on March 10. 14,800 20 Cash 100,000 100,000 22 Prepaid Insurance 3,000 1,000 Sold merchandise Advertising Expense Cost of Goods Sald Merchandise inventory 4,000 50 Paid insurance and advertising 14,504 296 20 CAsh 23 Cash 12,500 Sales Discount Accounts Receivable Partial collection of March 15 credit sales. Accounts Receivable Collection from customers on March 10. 14,800 12,500 22 Prepaid Insurance 26 Cash 76,500 8,500 Advertising Expense 1,000 Accounts Receivable Paid insurance and advertising es 85,000 Sold merchandise 23 Cash 12,500 Accounts Receivable Partial collection of March 15 creditsales. 12,500 27 Cash 12,500 Accounts Receivable Collection of the March 15 balance 26 Cash Accounts Receivable 55,000 31 CAsh Sold merchandise 120,000 30,000 Notes Receivable Cost of Goods Sald 55,000 es 150,000 MerchandiseInventory 55,000 Sold merchandise. 27 Cash 12,500 31 Wages Expense 6,000 Accounts Receivable Collection of the March 15 balance. Utilities Expense 9,500 31 CAsh 120,000 Notes Receivable Sold merchandise. Cost of Goods Sold Paid wages and utilities 150,000 Merchandise inventory 115,500 31 wages Expense Utilities Expense Paid wages and utilities Help wah Chegx MS word Google Illustrative Problem 8.1 Journalizing Merchandising Transactions Journalize the transactions of EBC Superstore for the month of March 2017using both the Periodic inventory system and the perpetual inventory system. Mar 1 EBC invested P 500,000 cash and a piece of land with a building in a grocery business. The land and building are worth P 300,000 and P 200,000, respectively. The building will be used as the store. Mar 2 Bought for cash furniture, P5, 000 and store supplies, P1, 000. Mar 4 Purchased merchandise worth P 300,000, paying 1/3 and the balance on credit terms of 2/10, net eom ule Fundamentals of Accounting Part 1 Accounting for Merchandising Operations Mar 5 Returned defective merchandise worth P 10,000. Paid freight for the above purchases, P 5,500. Mar 6 Sold goods for cash, P 13,500 (cost, P 8,500) Mar 10 Sales: Cash, P25, 500; on credit P 16,800, terms. 2/10, n/30. (cost of goods sold (P24, 100) Mar 11 Received merchandise returned by the customer on credit on March 10, P sold (P24, 100) Mar 11 Received merchandise returned by the customer on credit on March 10,P 2000 (cost P1, 000). Mar 12 Bought delivery equipment worth P 10,000 on account. Issued a 12% 90- day note Mar 13 Paid the amount due on March 4 Mar 15 Sales for the last five days: Cash P70, 000; on account P 25,000, (cost, P 60,000) Mar 15 Paid wages of store helpers, P 5,000. Mar 16 Received delivered purchased merchandise worth P 50,000 on credit. Terms 2/10, n/30. Mar 17 The supplier on March 16 granted EBC an allowance of P500 for merchandise with minor defects but were not returned Mar 20 Cash Sales from March 16 to March 20, P 100,000 (cost, P 48,500) Collected the amount due on March 10. Mar 22 Paid the following expenses: insurance, P 3,000; advertising, P 1,000. Mar 23 Received of the amount due from customers on March 15. Mar 26 Sales fron March 21 to March 25, P 85,000, 10% of which is on account (cost, P 55,000) Mar 27 Received the full amount due on March 15. Mar 31 Sales from March 26 to Mar 31, P 150,000, 20% of which is on account where EBC received a 12%, 45-day note (cost, P115, 500) Mar 31 Paid the following: Salaries, P 6,000; Utilities, P 3,500. EBC Superstore ournal Entries Account titles EBC Superstore ournal Entries Account titles Date Debit Credit Debit Credit 017 Mar 2 Cash P 500,000 P 500,000 300,000 200,000 tand Land Building 200,000 EBC Capital iswestment P2,000,00D0 EBC, Capita P1,000,000 2 Furni ture 5,000 2 Furniture 5,000 Store Suppli es Store Supplies Cash Bought furniture and store supplies 6.000 6,000 hought furniture and store supplies 00,000 4 Merchandise Imventory 300,000 100,000 200,000 Accounts Payabi Purchased merchandise Accounts Payable 00,000 5 Accounts Payable 10,000 Accounts Psysble Marchandise Inventory Returned merchandise to supplier Merchandise inventory Purchase Returns and Alowance Returned merchandise to supplier 10,000 Freight In Cash Paid freight 5,500 Cash Paid freight 6 Cash 13,300 13,500 13,500 d Merchandise Sold Merchandis 25,300 16,800 10 Cash Cost of Goods Sold 8,500 Accounts Recvable Merchandise Inventory 8,sco 42,300 Sold Merchandise 10 Cash Accounts Receivable Sold Merchandise Cost of Goods Sold 11 Sales Retures and Allowances 42,300 Kecved returned merchandise 24,100 12 Delivery Equi pment 10,000 Merchandise Inventory Notes Payable Bought delivery equipment on account. Cost of Goods Sold 8,500 25,500 16,800 10 Cash Accounts Receivable Merchandise Inventory 8.500 Sales 42,300 25,500 16,800 sold Merchandise. 10 Cash Accounts Recelvable Sold Merchandise Cost of Goods Sold 11 Sales Returns and Allowances 2,000 42,300 Accounts Receivable 2,000 Received returned merchandise 24.100 12 Delivery Equipment 10,000 Merchandise Inventory 24,100 Notes Payable 10,000 2,000 Bought delivery equipment on account 11 Sales Returns and Allowances Accounts Receivable 2,000 13 Accounts Payable Received returned merchandise. 190,000 Cash Purchase Discount 186,200 3,800 Merchandise Inventory Cost of Goods Sold Paid account on March 4. 12 Delivery Equipment 10,000 70,000 25,000 15 Cash Notes Payable 10,000 Accounts Receivable 95,000 Bought delivery equipment on account Sales Sold merchandise 13 Accounts Payable 190,000 186,200 3.300 5,000 Cash 15 Wages Expense Cash 5,000 Merchandise Inventory Paid account on March 4. Paid wages of store helpers 0,000 25,000 50,000 15 Cash 16 Purchases 50,000 Accounts Receivable Accounts Payable Purchased merchandise on account Sales 95,000 Sold merchandise Mar 17 Accounts Payable 500 Purchase Returns and Allowances lowance for uneeturned merchandise 20 Cash 100,000 Sales old merchandise 100 000 20 Clsh 14,504 296 Sales Discount ccounts Recelvable Collect on from customers on Marcs 10 t4.800 22 Prepaid Insutance 3,000 1,000 Advertising bpense Cash Paid insurance and advertising 23 Cash 12,500 Accounts Recelwable Parsal collection of March 15 creditseles 12,300 26 Cash 6,300 8,300 Accounts Receivable 85,000 Sold merchandise 27 Cash 12.300 12,500 Accounts Receivable Collection of the March 15 balance 120,000 30,000 31 CAsh Notes Recevatie Sales 150,000 Sold merchandise 6,000 3,500 3I Wages Eapense Utilites Experse Cash Paid wages and vlities ,500 Adjusting the accounts of a Merchandising Business Adjusting entries for merchandising are similar to what we have prepared for service concern. The following discussions will focus on periodic inventory systenm We will skip the posting to the ledger and the preparation of worksheet. The trial balance below was derived after getting the balances of the accounts used in journalizing for EBC Superstore EBC Superstore Trial Balance March 31. 2017 Account Titles Debit Credit Cash Accounts Recelvable Notes Receivable Store supplies Prepaid Insurance Land Building Furniture Delivery Equipment Account Payable Notes Payable EBC, Capital P 628, 804 8,500 30,000 1,000 3,000 300,000 200,000 5,000 10,000 P 49, 500 10,000 1,000,000 485,800 2,000 296 350,000 5,500 Sales Returns and Allowances Sales Discount Purchases Freight In Purchase Returns and Allowances Purchase Discount Wages Expense Utlities Expense Advertising Expense Total 10,500 3,800 11,000 3,500 1,000 P1,559,600 PL,559,600