Dee Gee Distributors

Post Closing Trial Balance

May 31, 2003

Accounts Dr Cr
1 Cash 11534 -
2 Accounts Recievable 2950 -
3 Supplies 1200 -
4 Furniture 10000 -
5 Office Equipment 15000 -
6 Merchandise Inventory 8000 -
7 Accounts Payable 5000 -
8 Dee Gee, Capital - May 31 36684 -
9 Accumulated Depreciation - Office Equipment 3000 -
10 Accumulated Depreciation - Furniture 2500 -
11 Allowance for Doubtful Accounts 500 -
12 Utilities Payable 1000 -
13 46684 - 46684 -
14

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A
 Dee Gee Distributors
Adjustments
For the Month Ended, May 31, 2003

Accounts Dr Cr
1 2003 Depreciation Expense - Office Equipment 3000
2 March Accumulated Depreciation Expense - Office Equipment 3000
3
4 Depreciation Expense - Furniture 2500
5 Accumulated Depreciation Expense - Furniture 2500
6
7 Supplies Used 1800
8 Supplies 1800
9
10 Doubtful Accounts Expense 500
11 Allowance for Doubtful Accounts 500
12
13 Utilities Expense 1000
14 Utilities Payable 1000
15
16 Merchandise Inventory 8000
17 Income Summary 8000
18
19 Closing Entries
20
21 Sales 11050
22 Purchase Returns and Allowances 1300
23 Purchase Discounts 464
24 Income and Expense Summary 12814
25
26 Income & Expense Summary 54130
27 Sales Returns and Allowances 500
28 Sales Discount 80
29 Purchases 33550
30 Freight-in 700
31 Salaries 5000
32 Rent 5000
33 Depreciation Expense - Office Equipment 3000
34 Depreciation Expense - Furniture 2500
35 Supplies Used 1800
36 Doubtful Accounts Expense 500
37 Utilities Expense 1000
38 Freight-out 500
39
40 Dee Gee, Capital 70000
41 Income & Expense Summary 70000
45
46 Reversing Entries
47
48 2004 d Utilities Expense 1000
49 April Utilities Payable 1000
50

Prepared by: Jose Dennio P. Lim Jr. | CSIS3A

Reminder:
Ung mga entry ng values ay ilalagay sa 3rd, 4th, 5th at 6th columns ng inyong six-column na worksheet.

Dee Gee Distributors

Income Statement
For the Month Ended, May 31, 2003

Accounts
1 Sales 11050
2 Less: Sales Discount 80
3 Sales Returns and Allowances 500 580
4 Net Sales 10470
5 Less: Costs of Good Sold
6 Merchandise Inventory, May 1
7 Add: Net Purchases
8 Purchases 33550
9 Add: Freight-In 700
10 Total 34250
11 Less: Purchase Discount 464
12 Purchase Returns and Allowances 1300 1764
13 Total Goods Available for Sale 32486
14 Less: Merchandise Inventory, May 31 8000 24486
15 Gross Loss 14016
16 Less: Operating Expenses
17 Salaries 5000
18 Rent 5000
19 Depreciation Expense - Office Equipment 3000
20 Depreciation Expense - Furniture 2500
21 Supplies Used 1800
22 Doubtful Accounts Expense 500
23 Utilities Expense 1000
24 Freight-out 500 19300
25 Net Loss (33316)

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A
, 4th, 5th at 6th columns ng inyong six-column na worksheet.
 Dee Gee Distributors
Statement of Financial Position
For the Month Ended May 31, 2003

1 ASSETS
2
3 Current Assets
4 Cash 11534
5 Accounts Receivable 2950
6 Less: Allowance for Doubtful Accounts 500 2450
7 Supplies 1200
8 Merchandise Inventory 8000
9 Total Current Assets 23184
10
11 Non-Current Assets
12 Furniture 10000
Less: Accumulated Depreciation 2500 7500
Office Equipment 15000
13 Less: Accumulated Depreciation 3000 12000
14 Total Non-Current Assets 19500
15
16 Total Assets 42684
17
18 LIABILITIES & EQUITIES
19 Current Liabilities
20 Accounts Payable 5000
23 Utilities Payable 1000
24 Total Current Liabilities 6000
27
28 Owner's Equity
29 Edison, Capital - January 1 70000
31 Less: Edison, Withdrawal 33316
32 Edison, Capital - March 31 36684
33
34 Total Liabilities & Owner's Equity 42684
35

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A
 EDISON DETROIT
Worksheet
For the Year Ended March 31, 2003

Trial Balance Adjusted Trial Balance Income Statement Balance Sheet

Accounts
Dr Cr Dr Cr Dr Cr Dr Cr
1 Cash 11534 11354 11534
2 Accounts Receivable 2950 2950 2950
3 Supplies 3000 1200 1200
4 Furniture 10000 10000 10000
5 Office Equipment 15000 15000 15000
6 Accounts Payable 5000 5000 5000
7 Dee Gee, Capital 70000 70000 70000
8 Sales 11050 11050 11050
9 Sales Returns and Withdrawal 500 500 500
10 Sales Discount 80 80 80
11 Purchases 33550 33550 33550
12 Purchase Returns and Allowances 1300 1300 1300
13 Purchase Discounts 464 464 464
Freight-Out 500 500 500
Freight-In 700 700 700
14 Salaries 5000 5000 5000
15 Rent Expense 5000 5000 5000
16 TOTAL 87814 87814
17
18 Depreciation Expense - Office Equipment 3000 3000
19 Accumulated Depreciation Expense - Office Equipment 3000 3000
20 Depreciation Expense - Furniture 2500 2500
21 Accumulated Depreciation Expense - Furniture 2500 2500
22 Supplies Used 1800 1800
23 Doubtful Accounts Expense 500 500
24 Allowance for Doubtful Accounts 500 500
25 Utilities Expense 1000 1000
26 Utilities Payable 1000 1000
27 Merchandise Inventory 8000 8000
28 Income Summary 8000 8000
29 Subtotal 102814 102814 54130 20814 48684 82000
30 Net Income 33316 33316
31 Grand Total 54130 54130 82000 82000
32 .

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A
 EDISON DETROIT
Statement of Financial Position
December 31, 2003

ASSETS LIABILITIES and OWNER'S EQUITY

1 Current Assets Current Liabilities

2 Cash 52767 Accounts Payable 5000
3 Accounts Receivable 19410 Utilities Payable 1000
Less: Allowance for Doubtful Accounts 125 Total Current Liabilities 6000
4 Supplies 3000
5 Merchandise Inventory 4950 Owner's Equity
6 Total Current Assets 23184 Edison, Capital - January 1 70000
7 Less: Edison, Withdrawal 33316
8 Non-Current Assets Edison, Capital - March 31 36684
9 Furniture 10000
11 Less: Accumulated Depreciation 2500 7500
12 Office Equipment 15000
13 Less: Accumulated Depreciation 3000 12000
14 Total Non-Current Assets 19500
15 Total Assets 42684 Total Liabilities & Owner's Equity 42684
16

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A
 EDISON DETROIT
Worksheet
For the Quarter Ended, March 31, 2003

Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Accounts
Dr Cr Dr Cr Dr Cr Dr Cr Dr Cr
1 Cash 11534 11354 11534
2 Accounts Receivable 2950 2950 2950
3 Supplies 3000 1800 1200 1200
4 Furniture 10000 10000 10000
5 Office Equipment 15000 15000 15000
6 Accounts Payable 5000 5000 5000
7 Dee Gee, Capital 70000 70000 70000
8 Sales 11050 11050 11050
9 Sales Returns and Withdrawal 500 500 500
10 Sales Discount 80 80 80
11 Purchases 33550 33550 33550
12 Purchase Returns and Allowances 1300 1300 1300
13 Purchase Discounts 464 464 464
Freight-Out 500 500 500
Freight-In 700 700 700
14 Salaries 5000 5000 5000
15 Rent Expense 5000 5000 5000
16 TOTAL 87814 87814
17
18 Depreciation Expense - Office Equipment 3000 3000 3000
19 Accumulated Depreciation Expense - Office Equipment 3000 3000 3000
20 Depreciation Expense - Furniture 2500 2500 2500
21 Accumulated Depreciation Expense - Furniture 2500 2500 2500
22 Supplies Used 1800 1800 1800
23 Doubtful Accounts Expense 500 500 500
24 Allowance for Doubtful Accounts 500 500 500
25 Utilities Expense 1000 1000 1000
26 Utilities Payable 1000 1000 1000
27 Merchandise Inventory 8000 8000 8000
28 Income Summary 8000 8000 8000
29 Subtotal 16800 16800 102814 102814 54130 20814 48684 82000
30 Net Income 33316 33316
31 Grand Total 54130 54130 82000 82000
32

Prepared by:
Jose Dennio P. Lim Jr.
CSIS3A