JDC MERCHANNDISING

UNADJUSTED TRIAL BALANCE

NOVEMBER 30, 2018

DEBIT CREDIT
Cash 780,000
Accounts Receivable 754,000
Notes Receivable 89,000
Merchandise Inventory 780,000
Office Supplies 75,000
Prepaid Insurance 65,000
Office equipment 90,000
Delivery Vehicle 87,650
Furniture and Fixtures 78,000
Accounts Payable 85,900
Notes Payable 90,000
JCD, Capital ?
JCD, Drawing 8,760
Sales 545,000
Sales Returns and Allowances 15,679
Sales Discount 7,650
Cost of Sales 355,890
Salaries Expense 87,000
Advertising Expense 150,000
Utilities Expense 87,650
Repair and Maintenance 7,890
Taxes and Licenses 10,750
Gasoline and Oils 7,890
Total ? ?

Juan de la Cruz, CPA formed a service-concern entity. The following were the transaction occurred during
the 2018 operations:
December 1 Juan additional investment of P500,000 cash in his entity.
December 2 50% of the outstanding accounts payable last November 30 were paid. P10,000 discount
was availed.
December 3 Paid taxes and licenses of the business at the city hall, P15,000.
December 4 Purchased supplies P12,350 for the Christmas Party of the business entity.
December 5 Collected 45% of the outstanding receivables as of November 30. P7,500 discount were
given.
December 6 A customer sold P15,000 merchandise. The cost of the merchandise returned, P11,250.
December 6 Acquired computer equipment and furniture and fixture for P22,750 and P54,350,
respectively, in an on account basis. No salvage value and can be used for 3 years.
December 7 Sold merchandise for 55,000 cash. FOB Destination, freight prepaid, P500. Cost of
merchandise sold, P47,500.
December 8 Sold inventory for P90,000. Cost of the merchandise sold is P75,000
December 10 Issued a note for a bank loan amounting to P150,000, 12% annual interest.
December 14 Sold merchandise to clients, P45,000 Credit terms: 5/10, n/15. Cost of merchandise
P32,500. Freight paid by the supplier.
December 15 Paid salaries for P13,500.
December 15 Paid advertising in advance for P13,000 for a coverage of 4 months.
December 19 Pay electricity, water and telephone bills, P16,450.
December 20 Collected the accounts receivable last December 14.
December 20 P18,000 of the notes payable outstanding as of November 30, 2018, was paid, including
10% annual interest. The said note was issued on June 20, 2018
December 21 25% of the accounts payable related to the acquisition of fixed assets acquired last
January 6 were paid.
December 22 Purchased merchandise on account, P70,000. Credit terms: 10/5,n/10.
December 22 Sold merchandise for P15,780. Cost of merchandise sold is P10,750.
December 23 Additional P4,500 supplies were purchased.
December 24 Purchase merchandise for cash P50,000. Freight, P1,500.
December 25 Rendered services on account, P60,000.
December 27 Paid accounts payable last December 22.
December 28 Juan withdrew from the entity for his personal use, P12,000.
December 29 45% of the services rendered last December 25 were collected.
December 31 Salaries for P13,500 were incurred and paid.
December 31 P8,750 of merchandise were return. These were merchandise was purchased on cash
December 31 P24,765 goods were delivered but no cash payment made yet. The cost of merchandise
is P18,790.
DATE PARTICULARS F DEBIT CREDIT
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DATE PARTICULARS DEBIT CREDIT BALANCE
DEBIT CREDIT

ACCOUNT TITLE:____________________________________ ACCOUNT No.:__________________

DATE PARTICULARS DEBIT CREDIT BALANCE

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 JDC MERCHANNDISING
UNADJUSTED TRIAL BALANCE
DECEMBER 31, 2018

ACCOUNT TITLES DEBIT CREDIT

Cash

Accounts Receivable

Notes Receivable

Merchandise Inventory

Office Supplies

Prepaid Insurance

Office equipment

Delivery Vehicle

Furniture and Fixtures

Accounts Payable

Notes Payable

JCD, Capital

JCD, Drawing

Sales

Sales Returns and Allowances

Sales Discount

Cost of Sales

Salaries Expense

Advertising Expense

Utilities Expense

Repair and Maintenance

Taxes and Licenses

Gasoline and Oils

Total