Feb.
1 Cash 113000
Accounts Receivable 113000
Feb. 2 Accounts Payable 64000
Purchase Discounts 1920
Cash 62080
Feb. 4 Purchases 170000
Accounts Payable 170000
Feb. 5 Accounts Receivable 270000
Sales 270000
Feb. 7 Advertising Expense 6000
Cash 6000
Feb. 7 Cash 250000
Sales 250000
Feb. 8 Accounts Payable 170000
Purchase Discounts 5100
Cash 164900
Feb. 9 Transportation In 4000
Cash 4000
Feb. 10 Sales Returns and Allowances 70000
Accounts Receivable 70000
Feb. 12 Cash 196000
Sales Discounts 4000
Accounts Receivable 200000
Feb. 14 Interest Expense 26000
Cash 26000
Feb. 15 Salaries Expense 51000
Cash 51000
Feb. 16 Accounts Receivable 392000
Sales 392000
Feb. 18 Transportation Out 4000
Cash 4000
Feb. 19 Supplies 21000
Cash 21000
Feb. 20 Purchases 125000
Accounts Payable 125000
Feb. 22 Miscellaneous Expense 7000
Cash 7000
Feb. 23 Cash 384160
Sales Discounts 7840
Accounts Receivable 392000
Feb. 24 Purchases 373000
Accounts Payable 373000
Feb. 24 Transportation In 9000
Cash 9000
Feb. 25 Accounts Receivable 420000
Sales 420000
Feb. 26 Sales Returns and Allowances 71000
Accounts Receivable 71000
Feb. 28 Buenaflor, Withdrawals 400000
Cash 400000
Feb. 28 Accounts Payable 25000
Purchase Returns and Allowances 25000
Teresita Buenaflor Shoes
Worksheet
Feb. 28, 2022
Unadjusted Trial Balance Adjustment Adjusted Trial Balance
Debit Credit Debit Credit Debit
Cash 221,180 221,180
Accounts Receivable 428,000 428,000
Merchandise Inventory 413,000 413,000
Supplies 72,000 58,000 14,000
Prepaid Insurance 48,000 2,000 46,000
Land 460,000 460,000
Building 1,750,000 1,750,000
Accumulated Depreciation - Building 350,000 9,000
Equipment 2,310,000 2,310,000
Accumulated Depreciation - Equipment 630,000 12,000
Accounts Payable 517,000
Salaries Payable 51,000
Mortgage Payable 2,600,000
Buenaflor, Capital 1,569,000
Buenaflor, Withdrawals 400,000 400,000
Income Summary -
Sales 1,332,000
Sales Returns and Allowances 141,000 141,000
Sales Discounts 11,840 11,840
Purchases 668,000 668,000
Purchases Returns and Allowances 25,000
Purchases Discounts 7,020
Transportation In 13,000 13,000
Salaries Expense 51,000 51,000 102,000
Supplies Expense 58,000 58,000
Insurance Expense 2,000 2,000
Depreciation Expense - Building 9,000 9,000
Depreciation Expense - Equipment 12,000 12,000
Transportation Out 4,000 4,000
Advertising Expense 6,000 6,000
Interest Expense 26,000 26,000
Miscellaneous Expense 7,000 7,000
Total 7,030,020 7,030,020 132,000 132,000 7,102,020
Adjusted Trial Balance Income Statement Balance Sheet
Credit Debit Credit Debit Credit
221,180
428,000
413,000 397,000 397,000
14,000
46,000
460,000
1,750,000
359,000 359,000
2,310,000
642,000 642,000
517,000 517,000
51,000 51,000
2,600,000 2,600,000
1,569,000 1,569,000
400,000
1,332,000 1,332,000
141,000
11,840
668,000
25,000 25,000
7,020 7,020
13,000
102,000
58,000
2,000
9,000
12,000
4,000
6,000
26,000
7,000
7,102,020 1,472,840 1,761,020 6,026,180 5,738,000
288,180 288,180
Teresita Buenaflor Shoes
Income Statement
For the month ended February 28, 2022
Sales 1,332,000.00
Less: Sales Returns and Allowances - 141,000.00
Sales Discounts - 11,840.00 - 152,840.00
Net Sales 1,179,160.00
Less: Cost of Sales
Merchandise Inventory, Beginning 413,000.00
Purchases 668,000.00
Less: Purchase Returns and Allowances 25,000.00
Purchase Discounts 7,020.00 - 32,020.00
Add: Transportation In 13,000.00
Less: Merchandse Inventory, Ending - 397,000.00 664,980.00
Gross Profit 514,180.00
Less: Operating Expenses
Salaries Expense 102,000.00
Supplies Expense 58,000.00
Insurance Expense 2,000.00
Depreciation Expense - Building 9,000.00
Depreciation Expense - Equipment 12,000.00
Transportation Out 4,000.00
Advertising Expense 6,000.00
Interest Expense 26,000.00
Miscellaneous Expense 7,000.00 226,000.00
Net Income 288,180.00
Teresita Buenaflor Shoes
Statement of Changes in Equity
For the month ended Feb. 28, 2022
Beginning Capital 1,569,000
Add: Net Income 288,180
Less: Withdrawals 400,000
Ending Capital 1,457,180
Teresita Buenaflor Shoes
Balance Sheet
As of February 28, 2022
ASSETS
Currents Assets
Cash 221,180
Accounts Receivable 428,000
Merchandise Inventory 397,000
Supplies 14,000
Prepaid Insurance 46,000 1,106,180
Noncurrent Assets
Land 460,000
Building 1,750,000
Accumulated Depreciation - Building - 359,000 1,391,000
Equipment 2,310,000
Accumulated Depreciation - Equipment - 642,000 1,668,000 3,519,000
Total Assets 4,625,180
Liabilities and Owner's Equity
Current Liabilities
Accounts Payable 517,000
Salaries Payable 51,000 568,000
Noncurrent Liabilities
Mortgage Payable 2,600,000
Total Liabilities 3,168,000
Owner's Equity
Buenaflor, Capital 1,457,180
Total Liabilities and Equity 4,625,180
Feb. 28 Sales 1332000 Income Summary
Income Summary 766160 477980 766160
Sales Discounts 141000 288180
Sales Returns and Allowances 11840
Merchandise Inventory, Beg. 413000
Feb. 28 Purchase Returns and Allowances 25000
Purchase Discounts 7020
Merchandise Inventory, End 397000
Income Summary 477980
Purchases 668000
Transportation In 13000
Salaries Expense 102000
Supplies Expense 58000
Insurance Expense 2000
Depreciation Expense - Building 9000
Depreciation Expense - Equipment 12000
Transportation Out 4000
Advertising Expense 6000
Interest Expense 26000
Miscellaneous Expense 7000
Feb. 28 Income Summary 288180
Buenaflor, Capital 288180
Feb. 28 Buenaflor, Capital 400000
Buenaflor, Withdrawals 400000
