In January 1, 2020 Dr. Chanel Montefalco and Dr. Marem Galvez after passing the Physician Licensure...

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In January 1, 2020 Dr. Chanel Montefalco and Dr. Marem Galvez after passing the Physician Licensure Exam decided to form a partnership to open Non- VAT registered practice named Montefalco and Galvez Clinic. Each of them invested P 200,000.00 and decided to have an equal sharing of profit and losses. The entity prepares a monthly financial statement; hence, adjusting and closing are made at the end of each month. CHART OF ACCOUNTS 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable 220 Withholding Tax Payable 230 Expanded Withholding Tax Payable 240 SSS, PH and Pag-ibig Contributions Payable 250 Utilities Payable 260 Accrued Percentage Tax 310 Montefalco, Capital 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Summary 410 Doctors Fee 510 Salaries Expense 520 SSS, PH and Pag-ibigContirbutions 530 Rent Expense 540 Utilities Expense 550 Supplies Expense 560 Transportation Expense 570 Depreciation Expense -Equipment 580 Percentage Tax Expense 590 Miscellaneous Expense Cash Accounts Receivable Office Equipment Accumulated Depreciation - Office Equipment Withholding Tax Payable Expanded Withholding Tax Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 P255,000 100,000 225,000 SSS, PH and Pag-ibig Contributions Utilities Payable Accrued Percentage Tax Montefalco, Capital Galvez, Capital Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A. General Journal C) Date 2020 Invoice No. REVENUES JOURNAL Accounts Debited P17,500 700 600 P.R. 5,550 7,800 6,750 Service Revenue Credit 270,550 270,550 Accounts Receivable Debit Date 2020 O. R. No. Invoice No. CASH RECEIPT JOURNAL Accounts Debited P. R. Accounts Receivable Credit Service Revenue Credit Cash Debit Date Date GENERAL JOURNAL ADJUSTING ENTRIES Account Title and Explanation GENERAL JOURNAL CLOSING ENTRIES Account Title and Explanation P.R. P.R. Debit Debit Page 2 Credit Page1 Credit 110 Cash Date 2020 120 Accounts Receivable Date 2020 130 Input VAT Date 2020 140 Office Equipment Date 2020 Description Date 2020 Description Description Description Description 210 Accounts Payable Date 2020 GENERAL LEDGER Description P.R. 145 Accumulated Depreciation - Office Equipment P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance 220 Withholding Tax Payable Date 2020 230 Expanded Withholding Tax Payable Date Description 2020 Description Date 2020 250 Utilities Payable Date 2020 230 SSS,PH,Pag-Ibig Contrbutions Payable Description Description 260 Accrued Percentage Tax Date Description 2020 310 Montefalco, Capital Date 2020 Description P.R. P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Doctors Fee REVENUES OPERATING EXPENSES Total Expenses Net Income (Net Loss) Net Income Beginning Capital, March 1, 2020 Drawing Ending Capital, March 31, 2020 Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Dr. Montefalco Dr. Galvez Total Date 2020 Check Check Accounts Debited Voucher No. No. PR CASH DISBURSEMENT JOURNAL Salaries Expenses Debit Sundry Debit SSS, PH and Pag- ibig payable Debit (Credit) Withholdin g Tax Payable Debit (Credit) Supplie Expenses debit Input VAT Debit Expanded Withholdin g Tax Payable Debit (Credit) Cash Credit Account Title Net Income (Loss) TOTAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Total Balance Debit Credit Adjustment Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit 320 Montefalco, Withdrawals Description Date 2020 330 Galvez, Capital Date 2020 Description 340 Galvez, Withdrawals Date 2020 410 Doctors Fee Date 2020 Description 350 Income Summary Date 2020 Description Description 510 Salaries Expense Date 2020 Description P.R. Description P.R. P.R. P.R. 520 SSS, PH and Pag-ibig Contributions Date 2020 P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance 530 Rent Expense Date 2020 540 Utilities Expense Date 2020 550 Supplies Expense Date 2020 Date 2020 Description 560 Transportation Expense Date 2020 Description Date 2020 Description 570 Depreciation Expense Date 2020 Description 580 Percentage Tax Expense Description Description 590 Miscellaneous Expense Description P.R. P.R. P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Cash Particulars Misc. Expense Total Amount: Check No: 54219 Approved for Payment: Received Payment: Check Voucher Withdrawals Paid to: M. GALVEZ Particulars Total Amount: Check Voucher Amount Check No: 54221 Approved for Payment: Received Payment: No.: 2119 Date: 3/23/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 5,000.00 5,000.00 No.: 2121 Amount Date: 11/25/2020 30,000.00 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: C. Montefalco Particulars Withdrawals Total Amount: Check No: 54220 Approved for Payment: Received Payment: Paid to: Cash Check Voucher Particulars Gross Pay Withholding Tax Total Amount: No.: 2120 Amount MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check Voucher Check No: 54222 Approved for Payment: Received Payment: Date: 3/25/2020 30,000.00 30,000.00 No.: 2122 Date: 11/27/2020 Amount 21,000.00 (1,200.00) 19,800.00 Accounts Receivable Subsidiary Ledger -A. Mercadejas Description P.R. Debit Date 2020 Accounts Receivable Subsidiary Ledger - A. Riego Description P.R. Date 2020 Date 2020 SUBSIDIARY LEDGER Accounts Receivable Subsidiary Ledger - V. Hidalgo Description P.R. Accounts Receivable Subsidiary Ledger - R. Lopez Description P.R. Date 2020 Accounts Receivable Subsidiary Ledger - A. Leviste Description P.R. Date 2020 Debit Date 2020 Debit Debit Debit Accounts Receivable Subsidiary Ledger - R. Elizalde Description P.R. Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: R. ELIZALDE Address: Telephone: Doctors Fee This is to bill you for the following: Particulars Total Amount Statement of Account Alaminos, Laguna Total Amount: Paid to: MG Center Bldg. Particulars Monthly rental's Exp. Withholding Tax Check Voucher Date: 3/25/2020 Check No: 54213 Approved for Payment: Received Payment: No.: 1525 Amount 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 30,000.00 By: Authorized Signature No.: 2113 Amount Date: 3/08/2020 14,000.00 (600.00) 13,400.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Villondo Warehouse Particulars Office Supplies VAT Total Amount: Check Voucher Check No: 54212 Approved for Payment: Received Payment: Check Voucher Paid to: Primewater Particulars Total Amount: Water Bill (month of February) MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check No: 54214 Approved for Payment: Received Payment: No.: 2112 Date: 3/04/2020 Amount 2,200.00 300.00 Amount 2,500 No.: 2114 Date: 3/09/2020 800.00 800.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: R. ELIZALDE Address: Telephone: Doctors Fee This is to bill you for the following: Particulars Total Amount Statement of Account Alaminos, Laguna Total Amount: Paid to: MG Center Bldg. Particulars Monthly rental's Exp. Withholding Tax Check Voucher Date: 3/25/2020 Check No: 54213 Approved for Payment: Received Payment: No.: 1525 Amount 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 30,000.00 By: Authorized Signature No.: 2113 Amount Date: 3/08/2020 14,000.00 (600.00) 13,400.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Villondo Warehouse Particulars Office Supplies VAT Total Amount: Check Voucher Check No: 54212 Approved for Payment: Received Payment: Check Voucher Paid to: Primewater Particulars Total Amount: Water Bill (month of February) MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check No: 54214 Approved for Payment: Received Payment: No.: 2112 Date: 3/04/2020 Amount 2,200.00 300.00 Amount 2,500 No.: 2114 Date: 3/09/2020 800.00 800.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Prime Water Particulars Water Bill (Month of March) Total Amount: Check Voucher Check No: 54223 Approved for Payment: Received Payment: Employer Share Total Amount: Paid to: SSS, PhilHealth and Pag-ibig Particulars Amount Check Voucher Check No: 54225 Approved for Payment: Received Payment: No.: 2123 Date: 4/03/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 530.00 Amount 530.00 No.: 2125 Date: 4/12/2020 3,600.00 3,600.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Meralco Particulars Electricity Bill (Month of March) Total Amount: Check Voucher Check No: 54224 Approved for Payment: Received Payment: No.: 2124 Date: 4/06/2020 Amount 5,600.00 5,600.00 Bank of the Philippine Island Pay to the order of: Memo: :18571 Bank of the Philippine Island Pay to the order of: Memo: :18571 :1863887571 Mema: :18571 Bank of the Philippine Island Pay to the order of: SSS,PhilHealth and Pag-ibig Four thousand six hundred Memo: :18571 Meralco Four thousand six hundred fifty :1863887571 Pay to the order of: Mema: :18571 Bank of the Philippine Island :1863887571 Villondo Warehouse Two thousand five hundred :1863887571 Bank of the Philippine Island Pay to the order of: 11638: Cash Nineteen thousand eight hundred 11638: :1863887571 11638: 11638: Prime Water Four hundred twenty 11638: Date: 4/12/2020 P 3,600.00 Pesos Date: 4/06/2020 Date: 3/04/2020 P 420,00 54225 P 4,650.00 Pesos Date: 3/27/2020 54224 Date: 4/13/2020 P 2,500.00 Pesos Pesos 54212 P 19,800.00 Pesos 54222 54223 Bank of the Philippine Island Pay to the order of: Memo: :18571 Pay to the order of: Memo: :18571 Bank of the Philippine Island Memo: :18571 :1863887571 Pay to the order of: Chanel Montefalco Bank of the Philippine Island Memo: :18571 Thirty thousand :1863887571 Pay to the order of: Memo: :18571 Marem Galvez Thirty thousand Bank of the Philippine Island :1863887571 Pay to the order of: Cash Five thousand Meralco seven thousand :1863887571 Bank of the Philippine Island 11638: :1863887571 11638: 11638: 11638: SSS, PhilHealth and Pag-ibig Five thousand five hundred fifty 11638: Date: 3/25/2020 P 30,000.00 Pesos Date: 3/25/2020 Date: 3/23/2020 54220 P 30,000.00 Pesos Date: 3/20/2020 54221 P 5,000.00 Pesos Date: 3/17/2020 54219 54218 P 7,000.00 Pesos 54217 P 5,550.00 Pesos Bank of the Philippine Island Pay to the order of: Memo: :18571 Bank of the Philippine Island Memo: :18571 Pay to the order of: Memo: :18571 Bank of the Philippine Island Pay to the order of: Memo: :18571 Cash Nineteen thousand seven hundred :1863887571 Water Bell (Month of March Pay to the order of: Total Sales VAT inclusive Les VAT Total Due Bank of the Philippine Island Withholding Tax Amount Due :1863887571 VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total S Bureau of Internal Revenue one thousand one hundred Cash Check No.: 54223 Bank in Settlement of the following Particulars Prime Water Eight hundred :1863887571 :1863887571 Farm of Payment MG Center Bldg Thirteen thousand one hundred Amount 420.00 420.00 420.00 11638: 420.00 420.00 11638: 11638: 11638: Date: 3/13/2020 With TIN Cityengaged Date: 3/12/2020 P 800.00 Pesos Date: 3/09/2020 Prime Water San Pablo City P 19,700.00 Pesos Date: 3/08/2020 Official Receipt 54216 P 1,300.00 Pesos By: 54215 Received from: Montefalco and Galvez Clinic 54214 54213 P 13,100.00 Pesos No.: 88212 Date: 4/03/2020 and address at San Pablo the business style of the sum of Four hundred twentypesos (P420.00). In partial/ full payment for Water Bill (month of November) Cashier/Authorized Signature in Settlement of the following Particulars Electric (Month of Mar Total Sales (VAT) less VAT- Total Du Less Withholding Tas Amount Due VATable Sales VAT-Exempt Sales Zar Rates Sal VAT Amount Tatal Sales Cash Check No: 54224 Bank form of Payment Employee's Share Employee's Share In Settlement of the following Particulars Tatal Sales VAT indui Less: VAT Total Du Less Withholding Tan Amount Due VATable Sales VAT-Exempt Sales Zero Ratus Sal VAT Amount Total Sales Cash Check No: 54225 Bank Form of Payment Doctors Fee (SOA #1524V/19/2020 Total Sales (VAT Indusive) less VAT Tatal Due Amount Due Withholding Tax In Settlement of the following Particular Check No: Bank VATable Sales VAT-Exempt Sales Zav Rates Sales VAT Amount Total Sales Check Amount Cash Form of Payment Check 4,650.00 4,650.00 Chack 4,650.00 Amount 4,650.00 4,650.00 3,600.00 3,600.00 3.600.00 3,600.00 3,600.00 Amount 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 Meralco San Pablo City Official Receipt Received from: Montefaico and Galvez Clinic With TIN Cityengaged in and address at San Pablo By: No.: 99882 Date: 4/06/2020 the business style of the sum of Four thousand six hundred fifty pesos (P4,650.00). In partial/ full payment for Water Bill (month of November) Cashier/Authorized Signature Official Receipt SSS,PhilHealth, and Pag-ibig San Pablo City No.: 67213 Date: 4/12/2020 Received from: Montefalco and Galvez Clinic With TIN Cityengaged and address at San Pablo the business style of the sum of Three thousand six hundred pesos (P3,600.00). In partial/ full payment for Employee's Share Fumar & Ramulte Law Firm San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt By: Cashier/Authorized Signature No.: 2326 Date: 3/26/2020 Received from: A. Leviste With TIN engaged in the business style of the sum of Twenty thousand pesos (P 20.000.00), In partial/ full payment for Professional Fees (50A #1524- 3/19/2020) and address at Calauan, Laguna Cashier/Authorized Signature in Settlement of the following: Particulars Doctors Fee Total Sales (VAT Indusive) L: VAT Total Due Less: Withholding Tas Amount Due VATable S VAT-Exampt Sales Zero Rates Sales VAT Amount Total Sales Check Nu Banks Farm of Payment Cash Electric B (month of Feb) in Settlement of the following: Particulars Tatai Sales (VAT indie] Leis: VAT Total Due Less: Withholding Tax Amount Due VAT Amount Total Sales VATable Sales VAT-Exempt Sales Zarn Rates Sales Form of Payment Cash Check No.: 54218 Bank Employe's Share Employee's Share Tata Sales (VAT Indusive] Leis: VAT Total Due Less: Withholding Tax Amount Due Check In Settlement of the following: Particulars VATable Sal VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Amount Cash Check No: 54217 Bank Furm of Payment Check 23,000.00 23,000.00 Check 23,000.00 Amount 23,000.00 23,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 Amount 1,500.00 4050.00 5,550.00 5,550.00 5,550.00 5,500.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Received from: E. Jimenez With TIN engaged in the business style of and address at Alaminos, Laguna By: the sum of Twenty three thousand pesos IP 23.000.000 In partial/full payment for Professional Fees. Meralco San Pablo City, Laguna Official Receipt Date: 3/24/2020 No.: 2325 Cashier/Authorized Signature By: Received from:Montefalco and Galvez Clinic With TIN and address at San Pablo City engaged in the business style of No.: 98222 the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. Official Receipt Date: 3/20/2020 By: Cashier/Authorized Signature SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna No.: 67854 Received from: Montefalco and Galvez Clinic Date:3/17/2020 and address at San Pablo City With TIN engaged in the business style of the sum of Five thousand five hundred fifty pesas (P 5,550.00). In partial/full payment for Employee's Share Cashier/Authorized Signature in Settlement of the following: Particulars Profesional Fes (SOA #1521-3/03/20201 Total Sales (VAT Indus Les VAT Total Du Lars Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Check No.: Bank Form of Payment Cash Withholding Tax Exp. Withholding Tax in Settlement of the following Particulars Total Sales (VAT.Indiv L: VAT Total Du Less: Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Form of Payment Cash Check No: 54215 Bank (Watur month of February Total Sales (VAT Indiv L: VAT Total Due Lass: Withholding Tax Amount Due Check in Settlement of the following Particulars VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Amount Form of Payment Cash Check No.: 54214 Bak 24,000.00 24.000.00 Check 24,000.00 24,000.00 Amount 24,000.00 700.00 600.00 1,300.00 1,300.00 1,300.00 1,300.00 Amount 800.00 800.00 800.00 800.00 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Received from: A. Riego With TIN engaged in the business style of the sum of Twenty four thousand pesos (P. 24.000.00), In partial/full payment for Professional Fees (SOA #1521- 3/03/2020) By: and address at San Pablo, City Bureau of Internal Revenue San Pablo City Official Receipt Cashier/Authorized Signature No.: 2324 Date: 3/18/2020 By: Prime Water San Pablo City Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo City engaged in the business style of the sum of one thousand three hundred pesos (P 1,300.00). In partial/full payment for Withholding Tax and Expanded Withholding Tax Official Receipt By: No.: 73832 Date: 3/12/2020 Cashier/Authorized Signature No.: 87781 Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo. City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) Cashier/Authorized Signature in Settlement of the following: Particulars Monthly Rentals Exp Withholding Tax Total Sales (VAT Indus Less VAT Total Due Lass: Withholding Tax Amount Du VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Cash Check Nin 54213 Love Farm of Payment Doctors fee SOA #1520-2/20/2020 Total Sales VAT Indusive) Las: VAY Check No Bank: Total Due Less: Withholding Tax Amount Due In Settlement of the following: Particulars VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Doctors Fee Form of Payment Cash Check No. Bank Total Sales (VAT indue) L: VAT Total Due Less Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Check Amount Cash Form of Payment Check in Settlement of the following Particulars 14,000.00 (600.00) 13,400.00 Check 13,400.00 Amount 13,400.00 13,400.00 100,000.00 100,000.00 200,000.00 100,000.00 200,000.00 Amount 17,000.00 17,000.00 17.000.00 17,000.00 17,000.00 MG Center Bldg. San Pablo City Official Receipt Received from: Montefalco and Galvez Clinic With TIN engaged in the business style of and address at San Pablo City By: the sum of Thirteen thousand four hundred pesos (P 13.400.00). In partial/full payment for Monthly Rentals Exp. Withholding Tax Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Received from: A. Mercadelas With TIN Date: 3/08/2020 Cashier/Authorized Signature By: No.: 213 and address at Calauan. Laguna engaged in the business style of the sum of one hundred thousand pesos (P 100,000.00). In partial/full payment for Doctors Fee SQA #1520 (2/20/2020) 536-5144 TIN: 132232343 Montefalco and Galvez Clinic San Pablo City, Laguna Official Receipt Cashier/Authorized Signature Received from: R. Del Fierro With TIN engaged in the business style of No.: 2323 Date: 3/06/2020 By: No.: 2322 Date: 3/05/2020 and address at San Pablo, City the sum of seventeen thousand pesos (P 17.000.00), In partial/full payment for Doctors Fee Cashier/Authorized Signature in Settlement of the following: Particular Office supplies Total Sales (VAT Ind Les VAT Total Due Less Withholding Tax Amount Due VAT Sales VAT-Exempt Sales Zero Ratin Sales VAT Amount Total Sales Form of Payment Cash Check No.: 54212 Bank Amount Check 2,500.00 2.500.00 300.00 2,500.00 2,500.00 300.00 2.500.00 Villondo Warehouse San Pablo City Official Receipt No.: 9870 Date: 3/04/2020 Received from: Montefalco and Galvez Clinic With TIN engaged in the business style of the sum of Two thousand five hundred pesos (P 2.500.00), in partial/full payment for Office supplies. By: and address at San Pablo City Cashier/Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account Customer: A. Riego Address: Telephone: This is to bill you for the following: Particulars Doctors Fee Total Amount San Pablo City Customer: R. Lopez Address: Telephone: Doctors Fee Total Amount Amount Date: 3/3/2020 Alaminos, Laguna This is to bill you for the following: Particulars No.: 1521 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account By: Authorized Signature 24,000.00 24,000.00 No.: 1523 Date: 3/16/2020 Amount 25,000.00 25,000.00 By: Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: Address: Telephone: This is to bill you for the following: Particulars Doctors Fee Total Amount Customer: Address: Telephone: Statement of Account V. Hidalgo San Pablo City Doctors Fee Total Amount Date: 3/10/2020 Amount A. Leviste Calauan, Laguna This is to bill you for the following: Particulars No.: 1522 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account 27,000.00 By: Authorized Signature 27,000.00 No.: 1524 Date: 3/19/2020 Amount 20,000.00 20,000.00 By: Authorized Signature In January 1, 2020 Dr. Chanel Montefalco and Dr. Marem Galvez after passing the Physician Licensure Exam decided to form a partnership to open Non- VAT registered practice named Montefalco and Galvez Clinic. Each of them invested P 200,000.00 and decided to have an equal sharing of profit and losses. The entity prepares a monthly financial statement; hence, adjusting and closing are made at the end of each month. CHART OF ACCOUNTS 110 Cash 120 Accounts Receivable 130 Input VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable 220 Withholding Tax Payable 230 Expanded Withholding Tax Payable 240 SSS, PH and Pag-ibig Contributions Payable 250 Utilities Payable 260 Accrued Percentage Tax 310 Montefalco, Capital 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Summary 410 Doctors Fee 510 Salaries Expense 520 SSS, PH and Pag-ibigContirbutions 530 Rent Expense 540 Utilities Expense 550 Supplies Expense 560 Transportation Expense 570 Depreciation Expense -Equipment 580 Percentage Tax Expense 590 Miscellaneous Expense Cash Accounts Receivable Office Equipment Accumulated Depreciation - Office Equipment Withholding Tax Payable Expanded Withholding Tax Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 P255,000 100,000 225,000 SSS, PH and Pag-ibig Contributions Utilities Payable Accrued Percentage Tax Montefalco, Capital Galvez, Capital Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. Required: 1. Transfer the post-closing trial balance amounts to its corresponding account in general ledger as beginning balance. 2. Journalize and post the transactions for the month of March. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Additional Information: a. Depreciation expense of long-lived asset is 10% of the asset cost per annum. b. Percentage Tax is 3% of the monthly revenue. c. Special Journals (Revenue, Cash Receipt, and Cash Disbursement) d. General Journal (General Journal A. General Journal C) Date 2020 Invoice No. REVENUES JOURNAL Accounts Debited P17,500 700 600 P.R. 5,550 7,800 6,750 Service Revenue Credit 270,550 270,550 Accounts Receivable Debit Date 2020 O. R. No. Invoice No. CASH RECEIPT JOURNAL Accounts Debited P. R. Accounts Receivable Credit Service Revenue Credit Cash Debit Date Date GENERAL JOURNAL ADJUSTING ENTRIES Account Title and Explanation GENERAL JOURNAL CLOSING ENTRIES Account Title and Explanation P.R. P.R. Debit Debit Page 2 Credit Page1 Credit 110 Cash Date 2020 120 Accounts Receivable Date 2020 130 Input VAT Date 2020 140 Office Equipment Date 2020 Description Date 2020 Description Description Description Description 210 Accounts Payable Date 2020 GENERAL LEDGER Description P.R. 145 Accumulated Depreciation - Office Equipment P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance 220 Withholding Tax Payable Date 2020 230 Expanded Withholding Tax Payable Date Description 2020 Description Date 2020 250 Utilities Payable Date 2020 230 SSS,PH,Pag-Ibig Contrbutions Payable Description Description 260 Accrued Percentage Tax Date Description 2020 310 Montefalco, Capital Date 2020 Description P.R. P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Doctors Fee REVENUES OPERATING EXPENSES Total Expenses Net Income (Net Loss) Net Income Beginning Capital, March 1, 2020 Drawing Ending Capital, March 31, 2020 Montefalco and Galvez Clinic Statement of Comprehensive Income For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Dr. Montefalco Dr. Galvez Total Date 2020 Check Check Accounts Debited Voucher No. No. PR CASH DISBURSEMENT JOURNAL Salaries Expenses Debit Sundry Debit SSS, PH and Pag- ibig payable Debit (Credit) Withholdin g Tax Payable Debit (Credit) Supplie Expenses debit Input VAT Debit Expanded Withholdin g Tax Payable Debit (Credit) Cash Credit Account Title Net Income (Loss) TOTAL Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Total Balance Debit Credit Adjustment Debit Credit Income Statement Debit Credit Balance Sheet Debit Credit 320 Montefalco, Withdrawals Description Date 2020 330 Galvez, Capital Date 2020 Description 340 Galvez, Withdrawals Date 2020 410 Doctors Fee Date 2020 Description 350 Income Summary Date 2020 Description Description 510 Salaries Expense Date 2020 Description P.R. Description P.R. P.R. P.R. 520 SSS, PH and Pag-ibig Contributions Date 2020 P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance 530 Rent Expense Date 2020 540 Utilities Expense Date 2020 550 Supplies Expense Date 2020 Date 2020 Description 560 Transportation Expense Date 2020 Description Date 2020 Description 570 Depreciation Expense Date 2020 Description 580 Percentage Tax Expense Description Description 590 Miscellaneous Expense Description P.R. P.R. P.R. P.R. P.R. P.R. P.R. Debit Debit Debit Debit Debit Debit Debit Credit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance Balance MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Cash Particulars Misc. Expense Total Amount: Check No: 54219 Approved for Payment: Received Payment: Check Voucher Withdrawals Paid to: M. GALVEZ Particulars Total Amount: Check Voucher Amount Check No: 54221 Approved for Payment: Received Payment: No.: 2119 Date: 3/23/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 5,000.00 5,000.00 No.: 2121 Amount Date: 11/25/2020 30,000.00 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: C. Montefalco Particulars Withdrawals Total Amount: Check No: 54220 Approved for Payment: Received Payment: Paid to: Cash Check Voucher Particulars Gross Pay Withholding Tax Total Amount: No.: 2120 Amount MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check Voucher Check No: 54222 Approved for Payment: Received Payment: Date: 3/25/2020 30,000.00 30,000.00 No.: 2122 Date: 11/27/2020 Amount 21,000.00 (1,200.00) 19,800.00 Accounts Receivable Subsidiary Ledger -A. Mercadejas Description P.R. Debit Date 2020 Accounts Receivable Subsidiary Ledger - A. Riego Description P.R. Date 2020 Date 2020 SUBSIDIARY LEDGER Accounts Receivable Subsidiary Ledger - V. Hidalgo Description P.R. Accounts Receivable Subsidiary Ledger - R. Lopez Description P.R. Date 2020 Accounts Receivable Subsidiary Ledger - A. Leviste Description P.R. Date 2020 Debit Date 2020 Debit Debit Debit Accounts Receivable Subsidiary Ledger - R. Elizalde Description P.R. Debit Credit Credit Credit Credit Credit Credit Balance Balance Balance Balance Balance Balance MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: R. ELIZALDE Address: Telephone: Doctors Fee This is to bill you for the following: Particulars Total Amount Statement of Account Alaminos, Laguna Total Amount: Paid to: MG Center Bldg. Particulars Monthly rental's Exp. Withholding Tax Check Voucher Date: 3/25/2020 Check No: 54213 Approved for Payment: Received Payment: No.: 1525 Amount 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 30,000.00 By: Authorized Signature No.: 2113 Amount Date: 3/08/2020 14,000.00 (600.00) 13,400.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Villondo Warehouse Particulars Office Supplies VAT Total Amount: Check Voucher Check No: 54212 Approved for Payment: Received Payment: Check Voucher Paid to: Primewater Particulars Total Amount: Water Bill (month of February) MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check No: 54214 Approved for Payment: Received Payment: No.: 2112 Date: 3/04/2020 Amount 2,200.00 300.00 Amount 2,500 No.: 2114 Date: 3/09/2020 800.00 800.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: R. ELIZALDE Address: Telephone: Doctors Fee This is to bill you for the following: Particulars Total Amount Statement of Account Alaminos, Laguna Total Amount: Paid to: MG Center Bldg. Particulars Monthly rental's Exp. Withholding Tax Check Voucher Date: 3/25/2020 Check No: 54213 Approved for Payment: Received Payment: No.: 1525 Amount 30,000.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 30,000.00 By: Authorized Signature No.: 2113 Amount Date: 3/08/2020 14,000.00 (600.00) 13,400.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Villondo Warehouse Particulars Office Supplies VAT Total Amount: Check Voucher Check No: 54212 Approved for Payment: Received Payment: Check Voucher Paid to: Primewater Particulars Total Amount: Water Bill (month of February) MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Check No: 54214 Approved for Payment: Received Payment: No.: 2112 Date: 3/04/2020 Amount 2,200.00 300.00 Amount 2,500 No.: 2114 Date: 3/09/2020 800.00 800.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Prime Water Particulars Water Bill (Month of March) Total Amount: Check Voucher Check No: 54223 Approved for Payment: Received Payment: Employer Share Total Amount: Paid to: SSS, PhilHealth and Pag-ibig Particulars Amount Check Voucher Check No: 54225 Approved for Payment: Received Payment: No.: 2123 Date: 4/03/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 530.00 Amount 530.00 No.: 2125 Date: 4/12/2020 3,600.00 3,600.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Paid to: Meralco Particulars Electricity Bill (Month of March) Total Amount: Check Voucher Check No: 54224 Approved for Payment: Received Payment: No.: 2124 Date: 4/06/2020 Amount 5,600.00 5,600.00 Bank of the Philippine Island Pay to the order of: Memo: :18571 Bank of the Philippine Island Pay to the order of: Memo: :18571 :1863887571 Mema: :18571 Bank of the Philippine Island Pay to the order of: SSS,PhilHealth and Pag-ibig Four thousand six hundred Memo: :18571 Meralco Four thousand six hundred fifty :1863887571 Pay to the order of: Mema: :18571 Bank of the Philippine Island :1863887571 Villondo Warehouse Two thousand five hundred :1863887571 Bank of the Philippine Island Pay to the order of: 11638: Cash Nineteen thousand eight hundred 11638: :1863887571 11638: 11638: Prime Water Four hundred twenty 11638: Date: 4/12/2020 P 3,600.00 Pesos Date: 4/06/2020 Date: 3/04/2020 P 420,00 54225 P 4,650.00 Pesos Date: 3/27/2020 54224 Date: 4/13/2020 P 2,500.00 Pesos Pesos 54212 P 19,800.00 Pesos 54222 54223 Bank of the Philippine Island Pay to the order of: Memo: :18571 Pay to the order of: Memo: :18571 Bank of the Philippine Island Memo: :18571 :1863887571 Pay to the order of: Chanel Montefalco Bank of the Philippine Island Memo: :18571 Thirty thousand :1863887571 Pay to the order of: Memo: :18571 Marem Galvez Thirty thousand Bank of the Philippine Island :1863887571 Pay to the order of: Cash Five thousand Meralco seven thousand :1863887571 Bank of the Philippine Island 11638: :1863887571 11638: 11638: 11638: SSS, PhilHealth and Pag-ibig Five thousand five hundred fifty 11638: Date: 3/25/2020 P 30,000.00 Pesos Date: 3/25/2020 Date: 3/23/2020 54220 P 30,000.00 Pesos Date: 3/20/2020 54221 P 5,000.00 Pesos Date: 3/17/2020 54219 54218 P 7,000.00 Pesos 54217 P 5,550.00 Pesos Bank of the Philippine Island Pay to the order of: Memo: :18571 Bank of the Philippine Island Memo: :18571 Pay to the order of: Memo: :18571 Bank of the Philippine Island Pay to the order of: Memo: :18571 Cash Nineteen thousand seven hundred :1863887571 Water Bell (Month of March Pay to the order of: Total Sales VAT inclusive Les VAT Total Due Bank of the Philippine Island Withholding Tax Amount Due :1863887571 VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total S Bureau of Internal Revenue one thousand one hundred Cash Check No.: 54223 Bank in Settlement of the following Particulars Prime Water Eight hundred :1863887571 :1863887571 Farm of Payment MG Center Bldg Thirteen thousand one hundred Amount 420.00 420.00 420.00 11638: 420.00 420.00 11638: 11638: 11638: Date: 3/13/2020 With TIN Cityengaged Date: 3/12/2020 P 800.00 Pesos Date: 3/09/2020 Prime Water San Pablo City P 19,700.00 Pesos Date: 3/08/2020 Official Receipt 54216 P 1,300.00 Pesos By: 54215 Received from: Montefalco and Galvez Clinic 54214 54213 P 13,100.00 Pesos No.: 88212 Date: 4/03/2020 and address at San Pablo the business style of the sum of Four hundred twentypesos (P420.00). In partial/ full payment for Water Bill (month of November) Cashier/Authorized Signature in Settlement of the following Particulars Electric (Month of Mar Total Sales (VAT) less VAT- Total Du Less Withholding Tas Amount Due VATable Sales VAT-Exempt Sales Zar Rates Sal VAT Amount Tatal Sales Cash Check No: 54224 Bank form of Payment Employee's Share Employee's Share In Settlement of the following Particulars Tatal Sales VAT indui Less: VAT Total Du Less Withholding Tan Amount Due VATable Sales VAT-Exempt Sales Zero Ratus Sal VAT Amount Total Sales Cash Check No: 54225 Bank Form of Payment Doctors Fee (SOA #1524V/19/2020 Total Sales (VAT Indusive) less VAT Tatal Due Amount Due Withholding Tax In Settlement of the following Particular Check No: Bank VATable Sales VAT-Exempt Sales Zav Rates Sales VAT Amount Total Sales Check Amount Cash Form of Payment Check 4,650.00 4,650.00 Chack 4,650.00 Amount 4,650.00 4,650.00 3,600.00 3,600.00 3.600.00 3,600.00 3,600.00 Amount 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 Meralco San Pablo City Official Receipt Received from: Montefaico and Galvez Clinic With TIN Cityengaged in and address at San Pablo By: No.: 99882 Date: 4/06/2020 the business style of the sum of Four thousand six hundred fifty pesos (P4,650.00). In partial/ full payment for Water Bill (month of November) Cashier/Authorized Signature Official Receipt SSS,PhilHealth, and Pag-ibig San Pablo City No.: 67213 Date: 4/12/2020 Received from: Montefalco and Galvez Clinic With TIN Cityengaged and address at San Pablo the business style of the sum of Three thousand six hundred pesos (P3,600.00). In partial/ full payment for Employee's Share Fumar & Ramulte Law Firm San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt By: Cashier/Authorized Signature No.: 2326 Date: 3/26/2020 Received from: A. Leviste With TIN engaged in the business style of the sum of Twenty thousand pesos (P 20.000.00), In partial/ full payment for Professional Fees (50A #1524- 3/19/2020) and address at Calauan, Laguna Cashier/Authorized Signature in Settlement of the following: Particulars Doctors Fee Total Sales (VAT Indusive) L: VAT Total Due Less: Withholding Tas Amount Due VATable S VAT-Exampt Sales Zero Rates Sales VAT Amount Total Sales Check Nu Banks Farm of Payment Cash Electric B (month of Feb) in Settlement of the following: Particulars Tatai Sales (VAT indie] Leis: VAT Total Due Less: Withholding Tax Amount Due VAT Amount Total Sales VATable Sales VAT-Exempt Sales Zarn Rates Sales Form of Payment Cash Check No.: 54218 Bank Employe's Share Employee's Share Tata Sales (VAT Indusive] Leis: VAT Total Due Less: Withholding Tax Amount Due Check In Settlement of the following: Particulars VATable Sal VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Amount Cash Check No: 54217 Bank Furm of Payment Check 23,000.00 23,000.00 Check 23,000.00 Amount 23,000.00 23,000.00 7,000.00 7,000.00 7,000.00 7,000.00 7,000.00 Amount 1,500.00 4050.00 5,550.00 5,550.00 5,550.00 5,500.00 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Received from: E. Jimenez With TIN engaged in the business style of and address at Alaminos, Laguna By: the sum of Twenty three thousand pesos IP 23.000.000 In partial/full payment for Professional Fees. Meralco San Pablo City, Laguna Official Receipt Date: 3/24/2020 No.: 2325 Cashier/Authorized Signature By: Received from:Montefalco and Galvez Clinic With TIN and address at San Pablo City engaged in the business style of No.: 98222 the sum of Seven thousand pesos(P 7000.00). In partial/full payment for Electric Bill (month of February. Official Receipt Date: 3/20/2020 By: Cashier/Authorized Signature SSS, PhilHealth, and Pag-ibig San Pablo City, Laguna No.: 67854 Received from: Montefalco and Galvez Clinic Date:3/17/2020 and address at San Pablo City With TIN engaged in the business style of the sum of Five thousand five hundred fifty pesas (P 5,550.00). In partial/full payment for Employee's Share Cashier/Authorized Signature in Settlement of the following: Particulars Profesional Fes (SOA #1521-3/03/20201 Total Sales (VAT Indus Les VAT Total Du Lars Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Check No.: Bank Form of Payment Cash Withholding Tax Exp. Withholding Tax in Settlement of the following Particulars Total Sales (VAT.Indiv L: VAT Total Du Less: Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Form of Payment Cash Check No: 54215 Bank (Watur month of February Total Sales (VAT Indiv L: VAT Total Due Lass: Withholding Tax Amount Due Check in Settlement of the following Particulars VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Amount Form of Payment Cash Check No.: 54214 Bak 24,000.00 24.000.00 Check 24,000.00 24,000.00 Amount 24,000.00 700.00 600.00 1,300.00 1,300.00 1,300.00 1,300.00 Amount 800.00 800.00 800.00 800.00 Montefalco and Galvez Clinic San Pablo City 356-5144 TIN: 132232343 Official Receipt Received from: A. Riego With TIN engaged in the business style of the sum of Twenty four thousand pesos (P. 24.000.00), In partial/full payment for Professional Fees (SOA #1521- 3/03/2020) By: and address at San Pablo, City Bureau of Internal Revenue San Pablo City Official Receipt Cashier/Authorized Signature No.: 2324 Date: 3/18/2020 By: Prime Water San Pablo City Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo City engaged in the business style of the sum of one thousand three hundred pesos (P 1,300.00). In partial/full payment for Withholding Tax and Expanded Withholding Tax Official Receipt By: No.: 73832 Date: 3/12/2020 Cashier/Authorized Signature No.: 87781 Date: 3/09/2020 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo. City engaged in the business style of the sum of Eight hundred fifty pesos (P 800.00). In partial/full payment for Water Bill (month of February) Cashier/Authorized Signature in Settlement of the following: Particulars Monthly Rentals Exp Withholding Tax Total Sales (VAT Indus Less VAT Total Due Lass: Withholding Tax Amount Du VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Cash Check Nin 54213 Love Farm of Payment Doctors fee SOA #1520-2/20/2020 Total Sales VAT Indusive) Las: VAY Check No Bank: Total Due Less: Withholding Tax Amount Due In Settlement of the following: Particulars VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Doctors Fee Form of Payment Cash Check No. Bank Total Sales (VAT indue) L: VAT Total Due Less Withholding Tax Amount Due VATable Sales VAT-Exempt Sales Zero Rates Sales VAT Amount Total Sales Check Amount Cash Form of Payment Check in Settlement of the following Particulars 14,000.00 (600.00) 13,400.00 Check 13,400.00 Amount 13,400.00 13,400.00 100,000.00 100,000.00 200,000.00 100,000.00 200,000.00 Amount 17,000.00 17,000.00 17.000.00 17,000.00 17,000.00 MG Center Bldg. San Pablo City Official Receipt Received from: Montefalco and Galvez Clinic With TIN engaged in the business style of and address at San Pablo City By: the sum of Thirteen thousand four hundred pesos (P 13.400.00). In partial/full payment for Monthly Rentals Exp. Withholding Tax Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Received from: A. Mercadelas With TIN Date: 3/08/2020 Cashier/Authorized Signature By: No.: 213 and address at Calauan. Laguna engaged in the business style of the sum of one hundred thousand pesos (P 100,000.00). In partial/full payment for Doctors Fee SQA #1520 (2/20/2020) 536-5144 TIN: 132232343 Montefalco and Galvez Clinic San Pablo City, Laguna Official Receipt Cashier/Authorized Signature Received from: R. Del Fierro With TIN engaged in the business style of No.: 2323 Date: 3/06/2020 By: No.: 2322 Date: 3/05/2020 and address at San Pablo, City the sum of seventeen thousand pesos (P 17.000.00), In partial/full payment for Doctors Fee Cashier/Authorized Signature in Settlement of the following: Particular Office supplies Total Sales (VAT Ind Les VAT Total Due Less Withholding Tax Amount Due VAT Sales VAT-Exempt Sales Zero Ratin Sales VAT Amount Total Sales Form of Payment Cash Check No.: 54212 Bank Amount Check 2,500.00 2.500.00 300.00 2,500.00 2,500.00 300.00 2.500.00 Villondo Warehouse San Pablo City Official Receipt No.: 9870 Date: 3/04/2020 Received from: Montefalco and Galvez Clinic With TIN engaged in the business style of the sum of Two thousand five hundred pesos (P 2.500.00), in partial/full payment for Office supplies. By: and address at San Pablo City Cashier/Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account Customer: A. Riego Address: Telephone: This is to bill you for the following: Particulars Doctors Fee Total Amount San Pablo City Customer: R. Lopez Address: Telephone: Doctors Fee Total Amount Amount Date: 3/3/2020 Alaminos, Laguna This is to bill you for the following: Particulars No.: 1521 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account By: Authorized Signature 24,000.00 24,000.00 No.: 1523 Date: 3/16/2020 Amount 25,000.00 25,000.00 By: Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Customer: Address: Telephone: This is to bill you for the following: Particulars Doctors Fee Total Amount Customer: Address: Telephone: Statement of Account V. Hidalgo San Pablo City Doctors Fee Total Amount Date: 3/10/2020 Amount A. Leviste Calauan, Laguna This is to bill you for the following: Particulars No.: 1522 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Statement of Account 27,000.00 By: Authorized Signature 27,000.00 No.: 1524 Date: 3/19/2020 Amount 20,000.00 20,000.00 By: Authorized Signature

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Step 1 Transfer the postclosing trial balance amounts to the corresponding accounts in the general ledger as beginning balances You can transfer the p... View the full answer