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Bank of the Philippine Island 54221 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Smmarv 410 Doctors Fee 510 Salaries Fxnense 520 SSS, PH and Pag-ibig Contributions 530 Rent Expense No.: 2123 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 4/03/2020 Check Voucher Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Innut VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 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. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. 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) REVENUES JOURNAL CASH RECEIPT JOURNAL 540 Utilities Expense 550 Sunblies Exnense 560 Transportation Expense 570 Depreciation Expense U rercentage I ax Expense SUBSIDIAKY LEUG Accounts Receivable Subsidiary Ledger -A. Mercadejas Accounts Receivable Subsidiary Ledger - A. Riego Accounts Receivable Subsidiary Ledger - V. Hidalgo Accounts Receivable Subsidiary Ledger - R. Lopez Accounts Receivable Subsidiary Ledger - A. Leviste Accounts Receivable Subsidiary Ledger - R. Elizalde \begin{tabular}{||l|c|} \hline \multicolumn{2}{||}{ In Settlement of the following: } \\ \hline Particulars & Amount \\ \hline Professional Fees & 24,000.00 \\ \hline (SOA \#1521-3/03/2020) & \\ \hline & 24,000.00 \\ \hline Total Sales (VAT Indusive) & 24,000.00 \\ \hline Less: VAT & \\ \hline Total Due & 24,000.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & 24,000.00 \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Casheck } \\ \hline \multicolumn{2}{||}{} \\ \hline Check No.: \\ \hline Bank: \end{tabular} \begin{tabular}{||l|c|} \hline \multicolumn{2}{||c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Withholding Tax & 700.00 \\ \hline Exp. Withholding Tax & 600.00 \\ \hline & 1,300.00 \\ \hline Total Sales (VAT Indusive) & 1,300.00 \\ \hline Less: VAT & \\ \hline Total Due & 1,300.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & Check \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Cash } \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: 54215 \\ \hline Bank: \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline MONTEFALCOANDGALVEZCLINICSanPabloCity,Laguna536-5144 \\ \\ \\ Statement of Account \end{tabular} No.: 2117 No.: 2118 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Financial Position CASH DISBURSEMENT JOURNAL Water Bill (month of November) GENERAL JOURNAL AD.IIISTING FNTRIFS GENERAL JOURNAL CLOSING ENTRIES No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Reraived from * F limane7 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/17/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/20/2020 Check Voucher No.: 2322 Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/05/2020 Received from: R. Del Fierro With TIN and address at San Pablo, City engaged in the business style of the sum of seventeen thousand pesos (P 17,000.00). In partial/full payment for Doctors Fee By: Cashier/AuthorizedSignature No.: 9870 Villondo Warehouse San Pablo City Official Rece. 9/13 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City 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: Cashier/Authorized Signature Bank of the Philippine Island 54221 320 Montefalco, Withdrawals 330 Galvez, Capital 340 Galvez, Withdrawals 350 Income Smmarv 410 Doctors Fee 510 Salaries Fxnense 520 SSS, PH and Pag-ibig Contributions 530 Rent Expense No.: 2123 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 4/03/2020 Check Voucher Montefalco and Galvez Clinic Worksheet For the Month Ended March 31,2020 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 GENERAL LEDGER 110 Cash 120 Accounts Receivable 130 Innut VAT 140 Office Equipment 145 Accumulated Depreciation - Office Equipment 210 Accounts Payable Montefalco and Galvez Clinic Post-Closing Trial Balance For the Month Ended, February 29, 2020 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. 3. Prepare a trial balance directly at a worksheet. Complete the worksheet. 4. Prepare the financial statements (Statement of Performance, Statement of Financial Position, Statement of Partner's Equity, and Cash Flows). 5. Journalize and post the adjusting entry. 6. Journalize and post the closing entry. 7. Prepare the post-closing trial balance for the month of March. 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) REVENUES JOURNAL CASH RECEIPT JOURNAL 540 Utilities Expense 550 Sunblies Exnense 560 Transportation Expense 570 Depreciation Expense U rercentage I ax Expense SUBSIDIAKY LEUG Accounts Receivable Subsidiary Ledger -A. Mercadejas Accounts Receivable Subsidiary Ledger - A. Riego Accounts Receivable Subsidiary Ledger - V. Hidalgo Accounts Receivable Subsidiary Ledger - R. Lopez Accounts Receivable Subsidiary Ledger - A. Leviste Accounts Receivable Subsidiary Ledger - R. Elizalde \begin{tabular}{||l|c|} \hline \multicolumn{2}{||}{ In Settlement of the following: } \\ \hline Particulars & Amount \\ \hline Professional Fees & 24,000.00 \\ \hline (SOA \#1521-3/03/2020) & \\ \hline & 24,000.00 \\ \hline Total Sales (VAT Indusive) & 24,000.00 \\ \hline Less: VAT & \\ \hline Total Due & 24,000.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & 24,000.00 \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Casheck } \\ \hline \multicolumn{2}{||}{} \\ \hline Check No.: \\ \hline Bank: \end{tabular} \begin{tabular}{||l|c|} \hline \multicolumn{2}{||c|}{ In Settlement of the following: } \\ \hline \multicolumn{1}{|c|}{ Particulars } & Amount \\ \hline Withholding Tax & 700.00 \\ \hline Exp. Withholding Tax & 600.00 \\ \hline & 1,300.00 \\ \hline Total Sales (VAT Indusive) & 1,300.00 \\ \hline Less: VAT & \\ \hline Total Due & 1,300.00 \\ \hline Less: Withholding Tax & \\ \hline Amount Due & \\ \hline \multicolumn{2}{|c|}{ Form of Payment } \\ \hline VATable Sales & Check \\ \hline VAT-Exempt Sales & \\ \hline Zero Rates Sales & \\ \hline VAT Amount & \\ \hline Total Sales & \\ \hline \multicolumn{2}{|c|}{ Cash } \\ \hline \multicolumn{2}{|c|}{} \\ \hline Check No.: 54215 \\ \hline Bank: \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline MONTEFALCOANDGALVEZCLINICSanPabloCity,Laguna536-5144 \\ \\ \\ Statement of Account \end{tabular} No.: 2117 No.: 2118 Montefalco and Galvez Clinic Statement of Partner's Equity For the Month Ended March 31, 2020 Montefalco and Galvez Clinic Statement of Financial Position CASH DISBURSEMENT JOURNAL Water Bill (month of November) GENERAL JOURNAL AD.IIISTING FNTRIFS GENERAL JOURNAL CLOSING ENTRIES No.: 2325 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/24/2020 Reraived from * F limane7 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City engaged in the business style of the sum of Five thousand five hundred fifty pesos (P 5,550.00). In partial/full payment for_Employee's Share By: Cashier/Authorized Signature MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/17/2020 MONTEFALCO AND GALVEZ CLINIC San Pablo City, Laguna 536-5144 Date: 3/20/2020 Check Voucher No.: 2322 Montefalco and Galvez Clinic San Pablo City, Laguna 536-5144 TIN: 132232343 Official Receipt Date: 3/05/2020 Received from: R. Del Fierro With TIN and address at San Pablo, City engaged in the business style of the sum of seventeen thousand pesos (P 17,000.00). In partial/full payment for Doctors Fee By: Cashier/AuthorizedSignature No.: 9870 Villondo Warehouse San Pablo City Official Rece. 9/13 Received from: Montefalco and Galvez Clinic With TIN and address at San Pablo, City 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: Cashier/Authorized Signature

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