PREPARE THE WORKSHEET OF JUAN DELA CRUZ

WORKSHEET FORMAT

Account Title, Unadjusted Trial Balance, Income Statement, Balance Sheet

Transaction Analysis The following are transactions of Juan dela Cruz for August 2020. The company uses a periodic inventory system. (Assume the company is a non-Vat registered business). August 1 2 7 8 Juan dela Cruz invested the following assets in his business: P400,000 cash; P50,000 worth of desks and chairs and store equipment valued at P20,000. Mr. dela Cruz bought a computer for his business worth P60,000 giving a P10,000 down payment and the balance payable at the end of the month. Purchased merchandise for cash, P12,000. Purchased merchandise from SM, P18,000. Terms 2/10, n/30. Purchased office supplies on account, P3,000 Sold merchandise to Mr. Allan on account, P40,00, terms, 2/10, n/30, FOB destination. Paid advertising for the month of P15,000. Purchased merchandise from XYZ Company, P20,000, terms 1/15, n/30, Cash sales, P18,000. Received credit for P2,000 from XYZ Company as an allowance for a slight defect on merchandise purchased. Sold merchandise to Ms. Ramilyn on account, P40,000, terms 2/10, n/30, FOB Destination. Paid freight on sale made to Ms. Ramilyn P1,000. Issued check to SM in full payment for the August 4 account. Sold merchandise to Mr. DJ P25,000, terms 2/10, n/30. Collected the amount due from Mr. Alan for his August 6 account. Received payment from Ms. Ramilyn. Paid the amount due to XYZ Company. Paid the August 2, invoice. 9 10 12 13 14 18 21 22 23 31 CHART OF ACCOUNTS MERCHANDISING BUSINESS 200 LIABILITIES 100 ASSETS 101 Cash 201 Accounts Payable 102 Accounts Receivable 300 OWNER'S EQUITY 301 Owner's Capital 302 Ower's Drawing 103 Merchandising Inventory 104 Office Supplies 105 Furnitres and Fixtures 106 Accumulated Depreciation Furniture and Fixtures 107 Office Machine 108 Accumulated Depreciation Office Machine 109 Store Equipment 110 Accumulated Depreciation Store Equipment 111 Land 112 Building 113 Accumulated Depreciation-Building 400 REVENUES 401 Sales 401 Sales Discount 403 Sales Returns and Allowances 500 COST OF MERCHANDISE 501 Purchases 502 Purchase Discount 503 Purchase Returns and Allowances 504 Freight-in 600 EXPENSES 601 Advertising Expense 602 Salaries Expense 603 Freight-Out