Kenneth's Toyland

Trial Balance
as of June 30, 2022

Debit
Cash in Bank ₱ 487,288.00
Cash on Hand ₱ 82,158.00
Accounts Receivable ₱ 112,000.00
Allowance for Bad Debts
Notes Receivable ₱ 4,800.00
Merchandise Inventory, July 1, 2021 ₱ 89,500.00
Prepaid Store Insurance ₱ 6,300.00
Store Furniture and Fixtures ₱ 16,000.00
Accumulated Depreciation - Store Furniture and Fixtures
Office Furniture and Fixtures ₱ 15,000.00
Accumulated Depreciation - Office Furniture and Fixtures
Accounts Payable
Notes Payable
Unearned Commission
Pag-ibig Premiums Payable
SS & EC Premiums Payable
PhilHealth Premiums Payable
Alfonso, Capital
Alfonso, Personal ₱ 30,000.00
Sales
Sales Returns and Allowances ₱ 5,020.00
Sales Discount ₱ 2,880.00
Purchases ₱ 242,000.00
Freight In ₱ 6,000.00
Purchase Returns and Allowances
Purchase Discount
Advertising Expense ₱ 9,000.00
Sales Salaries Expense ₱ 60,000.00
Office Salaries Expense ₱ 33,400.00
Rent Expense ₱ 96,800.00
Taxes Expense ₱ 12,000.00
Utilities Expense ₱ 42,400.00
Interest Expense ₱ 600.00
Interest Income
SS & EC Premiums Expense ₱ 424.00
PhilHealth Premiums Expense ₱ 400.00
Pag-ibig Premiums Expense ₱ 200.00

₱ 1,354,170.00

₱ -
 Credit

₱ 4,000.00

₱ 500.00

₱ 900.00
₱ 54,000.00
₱ 180,000.00
₱ 2,400.00
₱ 400.00
₱ 1,070.00
₱ 800.00
₱ 521,900.00

₱ 580,200.00

₱ 3,000.00
₱ 2,000.00

₱ 3,000.00

₱ 1,354,170.00
 Particulars Debit Credit
a Bad Debts Expense ₱ 5,600.00
Allowance for Bad Debts ₱ 5,600.00

b Interest Receivable - 9% 30-day note issued on June 10, 2022 ₱ 20.00

Interest Income ₱ 20.00

c Insurance Expense ₱ 1,575.00

Prepaid Store Insurance ₱ 1,575.00

d Depreciation Expense - Store Furniture and Fixtures ₱ 2,100.00

Accumulated Depreciation - Store Furniture and Fixtures ₱ 2,100.00

Depreciation Expense - Office Furniture and Fixtures ₱ 3,000.00

Accumulated Depreciation - Office Furniture and Fixtures ₱ 3,000.00

e Sales Salaries Expense ₱ 550.00

Sales Salaries Payable ₱ 550.00

f Prepaid Advertising Expense ₱ 300.00

Advertising Expense ₱ 300.00

g Interest Expense - 18% 60-day note issued on June 10, 2022 ₱ 1,800.00
Interest Payable ₱ 1,800.00

h Unearned Commission ₱ 800.00

Commission Income ₱ 800.00

i Income and Expense Summary ₱ 67,125.00

Merchandise Inventory End ₱ 67,125.00

j Taxes Expense ₱ 5,256.00

Taxes Payable ₱ 5,256.00
₱ 6,300.00
divide: 24 (2yrs) ₱ 262.50
times: 6 months ₱ 1,575.00 expired
 Unadjusted Trial Balance
Debit Credit
Cash in Bank ₱ 487,288.00
Cash on Hand ₱ 82,158.00
Accounts Receivable ₱ 112,000.00
Allowance for Bad Debts ₱ 4,000.00
Notes Receivable ₱ 4,800.00
Merchandise Inventory, July 1, 2021 - Beginning ₱ 89,500.00
Prepaid Store Insurance ₱ 6,300.00
Store Furniture and Fixtures ₱ 16,000.00
Accumulated Depreciation - Store Furniture and Fixtures ₱ 500.00
Office Furniture and Fixtures ₱ 15,000.00
Accumulated Depreciation - Office Furniture and Fixtures ₱ 900.00
Accounts Payable ₱ 54,000.00
Notes Payable ₱ 180,000.00
Unearned Commission ₱ 2,400.00
Pag-ibig Premiums Payable ₱ 400.00
SS & EC Premiums Payable ₱ 1,070.00
PhilHealth Premiums Payable ₱ 800.00
Alfonso, Capital ₱ 521,900.00
Alfonso, Personal ₱ 30,000.00
Sales ₱ 580,200.00
Sales Returns and Allowances ₱ 5,020.00
Sales Discount ₱ 2,880.00
Purchases ₱ 242,000.00
Freight In ₱ 6,000.00
Purchase Returns and Allowances ₱ 3,000.00
Purchase Discount ₱ 2,000.00
Advertising Expense ₱ 9,000.00
Sales Salaries Expense ₱ 60,000.00
Office Salaries Expense ₱ 33,400.00
Rent Expense ₱ 96,800.00
Taxes Expense ₱ 12,000.00
Utilities Expense ₱ 42,400.00
Interest Expense ₱ 600.00
Interest Income ₱ 3,000.00
SS & EC Premiums Expense ₱ 424.00
PhilHealth Premiums Expense ₱ 400.00
Pag-ibig Premiums Expense ₱ 200.00

₱ 1,354,170.00 ₱ 1,354,170.00

Interest Receivable
Prepaid Advertising Expense
Merchandise Inventory End
Salaries Payable
Interest Payable
Taxes Payable
Commission Income
Bad Debts Expense
Insurance Expense
Depreciation Expense - Store Furniture and Fixtures
Depreciation Expense - Office Furniture and Fixtures
Income and Expense Summary

Net gain
 Adjustments Adjusted Trial Balance Income Statement
Debit Credit Debit Credit Debit Credit
₱ 487,288.00
₱ 82,158.00
₱ 112,000.00
₱ 5,600.00 ₱ 9,600.00
₱ 4,800.00 ₱ -
₱ 89,500.00 ₱ -
₱ 1,575.00 ₱ 4,725.00
₱ 16,000.00 ₱ -
₱ 2,100.00 ₱ 2,600.00
₱ 15,000.00 ₱ -
₱ 3,000.00 ₱ 3,900.00
₱ 54,000.00
₱ 180,000.00
₱ 800.00 ₱ 1,600.00
₱ 400.00
₱ 1,070.00
₱ 800.00
₱ 521,900.00
₱ 30,000.00 ₱ -
₱ - ₱ 580,200.00 ₱ - ₱ 580,200.00
₱ 5,020.00 ₱ - ₱ 5,020.00 ₱ -
₱ 2,880.00 ₱ - ₱ 2,880.00 ₱ -
₱ 242,000.00 ₱ - ₱ 242,000.00 ₱ -
₱ 6,000.00 ₱ - ₱ 6,000.00 ₱ -
₱ 3,000.00 ₱ 3,000.00
₱ - ₱ 2,000.00 ₱ - ₱ 2,000.00
₱ 300.00 ₱ 8,700.00 ₱ 8,700.00
₱ 550.00 ₱ 60,550.00 ₱ 60,550.00
₱ 33,400.00 ₱ - ₱ 33,400.00 ₱ -
₱ 96,800.00 ₱ - ₱ 96,800.00 ₱ -
₱ 5,256.00 ₱ 17,256.00 ₱ 17,256.00
₱ 42,400.00 ₱ - ₱ 42,400.00 ₱ -
₱ 1,800.00 ₱ 2,400.00 ₱ 2,400.00
₱ 76.00 ₱ 3,076.00 ₱ 3,076.00
₱ 424.00 ₱ - ₱ 424.00 ₱ -
₱ 400.00 ₱ - ₱ 400.00 ₱ -
₱ 200.00 ₱ - ₱ 200.00 ₱ -
₱ - ₱ - ₱ - ₱ -

₱ - ₱ - ₱ - ₱ -
₱ 76.00 ₱ 76.00
₱ 300.00 ₱ 300.00
₱ 67,125.00 ₱ 67,125.00
₱ 550.00 ₱ 550.00
₱ 1,800.00 ₱ 1,800.00
₱ 5,256.00 ₱ 5,256.00
₱ 800.00 ₱ 800.00 ₱ 800.00
₱ 5,600.00 ₱ 5,600.00 ₱ 5,600.00
₱ 1,575.00 ₱ 1,575.00 ₱ 1,575.00
₱ 2,100.00 ₱ 2,100.00 ₱ 2,100.00
₱ 3,000.00 ₱ 3,000.00 ₱ 3,000.00
₱ 67,125.00 ₱ 67,125.00 ₱ 67,125.00

₱ 88,182.00 ₱ 88,182.00 ₱ 1,439,677.00 ₱ 1,439,677.00 ₱ 597,830.00 ₱ 589,076.00

₱ - ₱ - ₱ 8,754.00
 Balance Sheet
Debit Credit
₱ 487,288.00
₱ 82,158.00
₱ 112,000.00
₱ 9,600.00
₱ 4,800.00 ₱ -
₱ 89,500.00 ₱ -
₱ 4,725.00
₱ 16,000.00 ₱ -
₱ 2,600.00
₱ 15,000.00 ₱ -
₱ 3,900.00
₱ 54,000.00
₱ 180,000.00
₱ 1,600.00
₱ 400.00
₱ 1,070.00
₱ 800.00
₱ 521,900.00
₱ 30,000.00 ₱ -

₱ - ₱ -
₱ 76.00
₱ 300.00
₱ 67,125.00
₱ 550.00
₱ 1,800.00
₱ 5,256.00
₱ 841,847.00 ₱ 850,601.00
₱ 8,754.00