IP DP Discount Rate MV Discount Proceeds Carrying Amount

118 62 0.174 250,513.13 7,507.04 243,006.08 245,341.94 (2,335.86)

114 66 0.174 250,513.13 7,991.37 242,521.76 245,008.31 (2,486.56)
118 62 0.0465 250,513.13 2,006.19 248,506.93 245,341.94 3,164.99
114 66 0.0465 250,513.13 2,135.62 248,377.50 245,008.31 3,369.19
256,775.95

Accounts Receiv 760,765

Allowance for do 5,780

Balance Days Past Due% Collectible

342,958 1- 30 days 99.00% 1.00% 3,429.58
238,400 31 - 60 days 97.50% 2.50% 5,960.00
124,562 61 - 90 days 90.00% 10.00% 12,456.20
54,845 Above 90 days 65.00% 35.00% 19,195.75
41,041.53
3,540,750
2,478,525 723,587.13
53,111.25 37,177.88 717,807.13
33,460.09 707,653.75 33,460.09 35,261.53
47,800.13 701,873.75

342,958.00 1- 30 days 99.00% 1.00% 3,429.58

238,400.00 31 - 60 days 97.50% 2.50% 5,960.00
124,562.00 61 - 90 days 90.00% 10.00% 12,456.20
51,600.00 Above 90 days 65.00% 35.00% 18,060.00
757,520.00 39,905.78
3,540,750
2,478,525
32,220.83

65000
-5000
60000
Usage 15000 5
rate 4 12000
1st 14400 12000
2nd 11000 12000
Total 25400 24000
CA 39600 36000
 5,780 - - 5,780
33,460.09 33,460.09 47,800.13 47,800.13
Balance B4 39,240.09 33,460.09 47,800.13 53,580.13
Required Bal 41,041.53 41,041.53 41,041.53 41,041.53
Adjustment 1,801.44 7,581.44 (6,758.60) (12,538.60)

49,601.57 41,041.53

Beg. Bal 5,780 5780 5780 5780

Provision 32,220.83 32,220.83 32,220.83 32,220.83
Writeoff (3,245.00) (3,245.00) (3,245.00) (3,245.00)
Bal before Ad 34,755.83 34,755.83 34,755.83 34,755.83
Required Bal 39,905.78 41,041.53 39,905.78 41,041.53
Adjustment 5,149.96 6,285.71 5,149.96 6,285.71
Bad Debts Ex 37,370.78 38,506.53

NRV 717,614.22 720,859.22

Cash on Hand 50,000
Cash in Bank - BPI 214,097
Cash in Bank - BDO 834,198
Accounts Receivable 179,561
Note Receivable 30,000
Allowance for bad Debts 4,489
Advances to employees 30,100
Inventories 304,680
Prepaid Rent 35,000
Office Supplies 12,067
Store Furniture and Fixtures 354,860
Acc. Dep. - Store Furniture and Fixtures 141,944
Office Equipment 145,975
Acc. Dep. - Office Equipment 65,689
Store Equipment 280,618
Acc. Dep. - Store Equipment 168,371
Office Furniture and Fixtures 129,570
Acc. Dep. - Office Furniture and Fixtures 77,742
Delivery Vehicle 340,760
Acc. Dep. - Delivery Vehicle 170,380
Short term investment in Marketable Securities 120,000
Accounts Payable 157,098
Note Payable - Due in 5 years 300,000
Note Payable - Due in 6 months 90,000
Accrued Salaries 15,680
Selfie, Withdrawal 88,650
Bad Debts Expense 2,340
Sales 2,376,480
Sales Returns and Allowances 9,850
Sales Discounts 5,439
Intest Income 6,000
Gain on Sale of Land 80,643
Purchases 1,086,053
Purchase Returns and Allowances 3,030
Purchase Discounts 5,430
Freight in 15,670
Freight out 34,518
Office Salaries Expense 68,430
Store Salaries Expense 175,438
Store Utilities Expense 50,768
Office Utilties Expense 10,654
Interest Expense 55,575
Store Rent Expense 105,000
Depreciation Expense - Store Furniture and Fixture 35,486
Depreciation Expense - Store Equipment 28,062
Depreciation Expense - Office Furniture and Fixture 12,957
Depreciation Expense - Office Equipment 14,598
Depreciation Expense - Delivery Vehicle 34,076
Administrative Miscellaneous Expense 18,750
Permits and Licenses Expense 30,456
Office Supplies Expense 2,975
Advertising Expense 7,438
Selfie, Capital 1,291,693
4,954,668 4,954,669
 Debit Credit
Acc. Dep. - Delivery Vehicle 170,380
Acc. Dep. - Office Equipment 65,689
Acc. Dep. - Office Furniture and Fixtures 77,742
Acc. Dep. - Store Equipment 168,371
Acc. Dep. - Store Furniture and Fixtures 141,944
Accounts Payable 157,098
Accounts Receivable 179,561
Accrued Salaries 15,680
Administrative Miscellaneous Expense 18,750
Advances to employees 30,100
Advertising Expense 7,438
Allowance for bad Debts 4,489
Bad Debts Expense (Admin Expense) 2,340
Cash in Bank - BDO 834,198
Cash in Bank - BPI 214,097
Cash on Hand 50,000
Delivery Vehicle 340,760
Depreciation Expense - Delivery Vehicle 34,076
Depreciation Expense - Office Equipment 14,597
Depreciation Expense - Office Furniture and Fixture 12,957
Depreciation Expense - Store Equipment 28,062
Depreciation Expense - Store Furniture and Fixture 35,486
Freight in 15,670
Freight out 34,518
Gain on Sale of Land 80,643
Interest Expense 55,575
Intest Income 6,000
1,908,185 888,036

Correct Amounts
Net Sales 2,361,191 2,361,191 2,361,191
Cost of Sales 1,098,958 1,087,568 1,117,806
Gross Profit 1,262,233 1,273,623 1,243,385
Other Income 86,643
Admin 161,159 130,703 195,235
Selling 470,786 501,242 436,710
Finance Cost 55,575
Net Profit 661,356 641,678 611,440
Beg. Cap 1,291,692 1,291,692 1,291,692
Total 1,953,048 1,933,370 1,903,132
Withdrawal 88,650 88,650 88,650
Capital, End 1,864,398 1,844,720 1,814,482

Current Assets 1,799,519 1,805,214 1,979,519

NCA 627,657 627,657 627,657
Total Assets 2,427,176 2,432,871 2,342,817

Current Liabilties 262,778

NCL 300,000
Capital 1,864,398
 2,427,176 -

24,880,763 17,796,251
 Debit Credit
Inventories 304,680
Note Payable - Due in 5 years 300,000
Note Payable - Due in 6 months 90,000
Note Receivable 30,000
Office Equipment 145,975
Office Furniture and Fixtures 129,570
Office Salaries Expense 68,430
Office Supplies 12,067
Office Supplies Expense 2,975
Office Utilties Expense 10,654
Permits and Licenses Expense 30,456
Prepaid Rent 35,000
Purchase Discounts 5,430
Purchase Returns and Allowances 3,030
Purchases 1,086,053
Sales 2,376,480
Sales Discounts 5,439
Sales Returns and Allowances 9,850
Selfie, Capital 1,291,692
Selfie, Withdrawal 88,650
Short term investment in Marketable Securities 120,000
Store Equipment 280,618
Store Furniture and Fixtures 354,860
Store Rent Expense 105,000
Store Salaries Expense 175,438
Store Utilities Expense 50,768

3,046,483 4,066,632

4,954,668 4,954,668 -

1,226,233

192,535
439,410

594,288
1,291,692
1,885,980
88,650
1,797,330

1,850,214
627,657
2,477,871
7,084,512