Date Particulars 2006 Jan.

1 Cash in Bank Petty Cash Fund Notes Receivable Accounts Receivable Interest Receivable Merchandise Inventory Supplies Inventory Prepaid Insurance Excess Input Tax Land Building Delivery Equipment Furniture and Equipment Allowance for Bad Debts Accum. Depn.- Building Accum. Depn.- Delivery Equipment Accum. Depn.- Furniture & Equipment Accounts Payable Utilities Payable SS, MCR, EC Premium Payable Withholding Tas Payable Loans Payable Notes Payable Marquez, Capital # Interst Income Interest Receivable # Selling Expense General Expense Utilities Payable # 28 Sales Return and Allowances Output Tax Accounts Receivable # 31 Adjusting Entries: a General Expense Allowance for Bad Debts # b Selling Expense

M & M Appliance Center General Journal F 111 112 113 114 115 116 117 118 119 121 122 123 124 114.1 122.1 123.1 124.1 211 212 214 215 217 230 311 811 115 611 711 212 412 220 114

Debit 17,887.50 10,000.00 10,000.00 20,671.90 12.00 74,672.50 5,337.00 1,015.00 600.00 50,000.00 150,000.00 75,500.00 16,008.80

12.00

419.00 419.00

446.43 53.57

954.30

150.00

General Expense Supplies Inventory # Selling Expense General Expense Accum. Depn.- Building Accum. Depn.- Delivery Equipment Accum. Depn.- Furniture & Equipment # Selling Expense General Expense SS, MCR, EC Premium Payable # Selling Expense General Expense Utilities Payable # Selling Expense General Expense Prepaid Insurance # Output Tax Input Tax VAT Payable # Bank Charge Cash in Bank # Income Tax Provision Tax Payable # Merchandise Inventory Income and Expense Summary #

300.00

705.59 316.70

374.00 348.70

445.00 445.00

169.17 169.16

8,309.57

25.00

5,400.04

75,500.00

Credit

1,033.60 6,000.00 3,888.89 1,467.44 34,068.30 838.00 3,971.10 1,100.00 8,333.33 120,000.00 2,330,040.04

12.00

838.00

500.00

954.30

450.00

500.00 388.89 133.40

722.70

890.00

338.33

5,254.96 3,054.61

25.00

5,400.04

75,500.00