Maribeth C.

Marcial Bookkeeping NCIII 12/13/2023

GALAXY PARTNERSHIP
CASH RECEIPTS JOURNAL
Page 2
DATE OR ACCOUNTS SERVICE CASH
2022 NO. ACCOUNTS CREDITED P.R RECEIVABLE REVENUE DEBIT
CREDIT DEBIT
NOVEMBER 4 2001 XRM CO √ 40,000.00 40,000.00
5 2002 HYUNDAI CORP √ 20,000.00 20,000.00
10 2003 TOYOTA CO √ 50,000.00 50,000.00
15 2004 MOTOROLA CO √ 75,000.00 75,000.00
25 2005 KAWASAKI √ 100,000.00 100,000.00
TOTAL 265,000.00 20,000.00 285,000.00
(113) (411) (111)
Maribeth C. Marcial Bookkeeping NCIII 12/13/2023

GALAXY PARTNERSHIP
SERVICE REVENUES JOURNAL
Page 1
DATE INVOICE SERVICE ACCOUNTS
2022 NO. ACCOUNTS DEBITED P.R REVENUE RECEIVEBLE
CREDIT DEBIT
NOVEMBER 3 1001 TOYOTA CO √ 50,000.00 50,000.00
8 1002 KAWASAKI CO √ 100,000.00 100,000.00
20 1003 HONDA INC √ 70,000.00 70,000.00
TOTAL 220,000.00 220,000.00
(411) (113)
Maribeth C. Marcial Bookkeeping NCIII 12/13/2023

GALAXY PARTNERSHIP
CASH DISBURSEMENT JOURNAL
Page 3
SSS
DATE PH WITH TAX EXPANDED

CHECK CHECK SALARIES PAG-IBIG PAYABLE SUPPLIES INPUT WITH TAX CASH
ACCOUNTS CREDITED P.R SUNDRY
VOUCHER NO. EXPENSE PAYABLE DEBIT EXPENSE VAT. DEBIT CREDIT
2022 NO. DEBIT (CREDIT) (CREDIT)

(CREDIT)
NOVEMBER 3 91001 4210001 NOVELTY BOOKTORE √ 1,500.00 180.00 1,680.00
5 91002 4210002 OFFICE EQUIPMENT 122 15,000.00 1,800.00 16,800.00
5 91003 4210003 RENT EXPENSE 521 10,000.00 - 500.00 9,500.00
10 91004 4210004 BIR √ 800.00 500.00 1,300.00
10 91005 4210005 SSS, PH & PAG-BIG √ 5,550.00 5,550.00
10 91006 4210006 UTILITIES EXPENSE 522 800.00 800.00
10 91007 4210007 UTILITIES EXPENSE 522 3,000.00 3,000.00
15 91008 4210008 PAYROLL √ 24,000.00 - 950.00 23,050.00
30 91009 4210009 PAYROLL √ 24,000.00 - 1,100.00 - 800.00 22,100.00
30 91010 42100010 A.D. MONTANO, DRAWINGS 314 10,000.00 10,000.00
30 91011 42100011 G.D. MONTANO, DRAWINGS 313 10,000.00 10,000.00
TOTAL 48,800.00 48,000.00 3,500.00 - 1,500.00 1,980.00 - 103,780.00
(√) (512) (214) (212) (523) (118) (213) (111)
Maribeth C. Marcial Bookkeeping NCIII 12/13/2023

GALAXY PARTNERSHIP
GENERAL LEDGER
For the Month of November 30, 2022

ACCOUNT: CASH 111

DATE
ITEM P.R DEBIT CREDIT BALANCE
2022
November 2 Beginning Balance √ 255,000.00
30 CDJ-1 103,780.00 151,220.00
30 CRJ-1 285,000.00 436,220.00

ACCOUNT: ACCOUNTS RECEIVABLE 113

November 2 Beginning Balance 115,000.00
30 CRJ-1 - 265,000.00 - 150,000.00
30 SRJ-1 220,000.00 70,000.00

ACCOUNT: INPUT TAX 118

November 3 Purchase of Office Supply CDJ-1 180.00 180.00
5 Purchase of Office Equipment CDJ-1 1,800.00 1,980.00

ACCOUNT: OFFICE EQUIPMENT 122

November 2 Beginning Balance √ 210,000.00
30 CDJ-1 15,000.00 225,000.00

ACCOUNT: ACCUMULATED DEPRECIATION-OFFICE EQUIPMENT 122A

November 2 Beginning Balance √ - 17,500.00
1,875.00 19,375.00

ACCOUNT: WITHHOLDING TAXES PAYABLE 212

November 2 Beginning Balance √ 800.00

ACCOUNT: EXPANDED WITHHOLDING TAXES PAYABLE 213

November 2 Beginning Balance √ 500.00

ACCOUNT: SSS, PHILHEALTH & PAG-IBIG CONTRIBUTIONS PAYABLE 214

November 2 Beginning Balance √ 5,550.00
30 CDJ-1 3,500.00 2,050.00
3,500.00 5,500.00

ACCOUNT: UTILITIES PAYABLE 215

November 2 Beginning Balance √ - 3,800.00
 3,800.00
500.00
2,000.00 2,500.00
ACCOUNT: ACCRUED PERCENTAGE TAX PAYABLE 216
November 2 Beginning Balance √ - 6,750.00
7,200.00 13,950.00

ACCOUNT: G.D MONTANO, CAPITAL 311

November 2 Beginning Balance √ - 272,550.00

ACCOUNT: A.D MONTANO, CAPITAL 312

November 2 Beginning Balance √ - 272,550.00

ACCOUNT: G.D MONTANO, DRAWING 313

November 2 Beginning Balance 10,000.00

ACCOUNT: A.D MONTANO, DRAWING 314

November 2 Beginning Balance √ 10,000.00

ACCOUNT: SERVICE REVENUES 411

November 30 CRJ-1 - 20,000.00 - 20,000.00
30 SRJ-1 - 220,000.00 - 240,000.00

ACCOUNT: SALARIES EXPENSE 512

November 15 CDJ-1 24,000.00 24,000.00
30 CDJ-1 24,000.00 48,000.00

ACCOUNT: SSS, PHILHEALTH & PAG-IBIG CONTIBUTIONS 513

November 30 3,500.00

ACCOUNT: RENT EXPENSE 521

November 30 CDJ-1 10,000.00

ACCOUNT: UTILITIES EXPENSE 522

November 30 CDJ-1 2,500.00

ACCOUNT: SUPPLIES EXPENSE 523

November 30 CDJ-1 - 1,500.00

ACCOUNT: DEPRECIATION EXPENSE 531

November 30 CDJ-1 - 1,875.00

ACCOUNT: PERCENTAGE TAX EXPENSE 532

November 30 CDJ-1 - 7,200.00
Maribeth C. Marcial Bookkeeping NCIII

GALAXY PARTNERSHIP
GENERAL JOURNAL
Page Number 4
With Explanation

DATE DESCRIPTION Closing Journal Entries

2022 PR DR CR
Nov 30 SERVICE REVENUES 411 240,000.00
INCOME SUMMARY 315 165,425.00
SALARIES EXPENSE 512 48,000.00
RENT EXPENSE 521 10,000.00
SUPPLIES EXPENSE 523 1,500.00
SSS, PHILHEALTH & PAG-IBIG CONTRI 513 3,500.00
UTILITIES EXPENSE 522 2,500.00
DEPRECIATION EXPENSE 531 1,875.00
PERCENTAGE TAX EXPENSE 532 7,200.00
To close the Service
Revenues and Expense Account

INCOME SUMMARY 315 165,425.00

G.D MONTANO, CAPITAL 311 82,712.50
A.D MONTANO, CAPITAL 312 82,712.50
To close the Income
Summary Account

G.D MONTANO, CAPITAL 311 10,000.00

A.D MONTANO, CAPITAL 312 10,000.00
G.D MONTANO, DRAWINGS 313 10,000.00
A.D MONTANO, DRAWINGS 314 10,000.00
To close the
Drawings Account
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
PRELIMINARY TRIAL BALANCE
November 30, 2022

P.R ACCOUNT TITLE DEBIT CREDIT

111 Cash 436,220.00
113 Accounts Receivable 70,000.00
118 Input tax 1,980.00
122 Office Equipment 225,000.00
122A Accumulated Depreciation-Office Equipment 17,500.00
212 Withholding Taxes Payable 800.00
213 Expanded Withholding Taxes Payable 500.00
214 SSS, Philhealth and Pag-ibig contribution Payable 2,050.00
216 Accrued Percentage Tax Payable 6,750.00
311 G.D Montano, Capital 272,550.00
312 A.D Montano, Capital 272,550.00
313 G.D Montano, Drawing 10,000.00
314 A.D Montano, Drawing 10,000.00
411 Service Revenues 240,000.00
512 Salaries Expense 48,000.00
521 Rent Expense 10,000.00
523 Supplies Expense 1,500.00
TOTAL 812,700.00 812,700.00
Maribeth C. Marcial Bookkeeping NCIII

GALAXY PARTNERSHIP
ADJUSTING ENTRIES

P.R ACCOUNT TITLE DEBIT CREDIT

522 Utilities Expense 2,500.00
215 Utilities Payable 2,500.00
To record Payment for Electricity Bill
and Water Bill
513 SSS, Philhealth and Pag-ibig Contributions 3,500.00
214 SSS, Philhealth and Pag-ibig 3,500.00
Contributions Payable
To record Payment for Employees SSS,
Philhealth and Pag-ibig Contributions
531 Depreciation Expense 1,875.00
122A Accumulated Depreciation-Office Equipment 1,875.00
To record payment for
Office Equipment Value
532 Percentage Tax Expense 7,200.00
216 Accrued Percentage Tax Payable 7,200.00
To record payment for Payable taxes
TOTAL 15,075.00 15,075.00
Maribeth C. Marcial Bookkeeping NCIII

GALAXY PARTNERSHIP
ADJUSTED TRIAL BALANCE
November 30, 2022

P.R ACCOUNT TITLE DEBIT CREDIT

111 Cash 436,220.00
113 Accounts Receivable 70,000.00
118 Input tax 1,980.00
122 Office Equipment 225,000.00
122A Accumulated Depreciation-Office Equipment 19,375.00
212 Withholding Taxes Payable 800.00
213 Expanded Withholding Taxes Payable 500.00
214 SSS, Philhealth and Pag-ibig contribution Payable 5,550.00
216 Accrued Percentage Tax Payable 13,950.00
311 G.D Montano, Capital 272,550.00
312 A.D Montano, Capital 272,550.00
313 G.D Montano, Drawing 10,000.00
314 A.D Montano, Drawing 10,000.00
411 Service Revenues 240,000.00
512 Salaries Expense 48,000.00
521 Rent Expense 10,000.00
523 Supplies Expense 1,500.00
522 Utilities Expense 2,500.00
215 Utilities Payable 2,500.00
513 SSS, Philhealth and Pag-ibig Contributions 3,500.00
531 Depreciation Expense 1,875.00
532 Percentage Tax Expense 7,200.00
TOTAL 827,775.00 827,775.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
STATEMENT OF COMPREHENSIVE INCOME
For the period ended November 30, 2022

P.R ACCOUNT TITLE DEBIT CREDIT

411 Service Revenues 240,000.00
512 Salaries Expense 48,000.00
521 Rent Expense 10,000.00
523 Supplies Expense 1,500.00
522 Utilities Expense 2,500.00
513 SSS, Philhealth and Pag-ibig Contributions 3,500.00
531 Depreciation Expense 1,875.00
532 Percentage Tax Expense 7,200.00
BALANCE 74,575.00 240,000.00
NET INCOME 165,425.00
TOTAL 240,000.00 240,000.00
Maribeth C. Marcial Bookkeeping NCIII

GALAXY PARTNERSHIP
STATEMENT OF FINANCIAL POSITION
November 30, 2022

P.R ACCOUNT TITLE DEBIT CREDIT

111 Cash 436,220.00
113 Accounts Receivable 70,000.00
118 Input tax 1,980.00
122 Office Equipment 225,000.00
122A Accumulated Depreciation-Office Equipment 19,375.00
212 Withholding Taxes Payable 800.00
213 Expanded Withholding Taxes Payable 500.00
214 SSS, Philhealth and Pag-ibig contribution Payable 5,550.00
216 Accrued Percentage Tax Payable 13,950.00
311 G.D Montano, Capital 272,550.00
312 A.D Montano, Capital 272,550.00
313 G.D Montano, Drawing 10,000.00
314 A.D Montano, Drawing 10,000.00
215 Utilities Payable 2,500.00
BALANCE 753,200.00 587,775.00
NET INCOME 165,425.00
TOTAL 753,200.00 753,200.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
FINANCIAL PERFORMANCE
For the Period Ended November 30, 2022

ACCOUNT TITLE DEBIT CREDIT

SERVICE REVENUE 240,000.00
LESS: OPERATING EXPENSES
SALARIES EXPENSE - 48,000.00
RENT EXPENSE - 10,000.00
SUPPLIES EXPENSE - 1,500.00
SSS, PHILHEALTH & PAG-IBIG CONTRIBUTION - 3,500.00
UTILITIES EXPENSE - 2,500.00
DEPRECIATION EXPENSE - 1,875.00
PERCENTAGE TAX EXPENSE - 7,200.00 - 74,575.00
NET PROFIT 165,425.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
STATEMENT OF PARTNER'S EQUITY
For the Period Ended November 30, 2022

G.D, MONTANO CAPITAL A.D MONTANO, CAPITAL TOTAL

Beginning Capital 272,550.00 272,550.00 545,100.00
Drawing - 10,000.00 - 10,000.00 - 20,000.00
NET PROFIT (Loss) 82,712.50 82,712.50 165,425.00
345,262.50 345,262.50 690,525.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARNERSHIP
FINANCIAL POSITION
November 30, 2022

ASSETS
Cash 436,220.00
Accounts Payable 70,000.00
Input Tax 1,980.00
Total Current Assets 508,200.00
Office Equipment 225,000.00
Accumulated Depreciation-Offoce Equipment - 19,375.00
TOTAL ASSETS 713,825.00

LIABILITIES & EQUITY

Withholding Taxes Payable 800.00
Expanded Withholding Taxes Payable 500.00
SSS, Philhealth & Pag-ibig Contribution Payable 5,550.00
Accrued Percentage Payable 13,950.00
Utilities Payable 2,500.00
Total Liabilities 23,300.00
G.D Montano, Capital 345,262.50
A.D Montano, Capital 345,262.50
Total Partner's Equity 690,525.00
TOTAL LIABILITIES & EQUITY 713,825.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
STATEMENT OF CASH FLOW

CASH IN
Collections from Customers 285,000.00
CASH OUT
Operating Expenses
Supplies Expense - 1,680.00
Office Equipment - 16,800.00
Rent Expense - 9,500.00
Payment for BIR - 1,300.00
SSS, Philhealth & Pag-ibig Contribution - 5,550.00
Utilities Payable - 3,800.00
Payroll - 45,150.00
A.D Montano, Drawings - 10,000.00
G.D Montano, Drawings - 10,000.00
Total Operating Expenses - 103,780.00
Net Income (Decrease) 181,220.00
Add: Beginning Balance 255,000.00
CASH BALANCE, NOVEMBER 30 436,220.00
Maribeth C. Marcial Bookkeeping NCIII 12/13/23

GALAXY PARTNERSHIP
TRIAL BALANCE
November 30, 2022

P.R ACCOUNT TITLE DEBIT CREDIT

111 Cash 436,220.00
113 Accounts Receivable 70,000.00
118 Input tax 1,980.00
122 Office Equipment 225,000.00
122A Accumulated Depreciation-Office Equipment 19,375.00
212 Withholding Taxes Payable 800.00
213 Expanded Withholding Taxes Payable 500.00
214 SSS, Philhealth and Pag-ibig contribution Payable 5,550.00
215 Utilities Payable 2,500.00
216 Accrued Percentage Tax Payable 13,950.00
311 G.D Montano, Capital 345,262.50
312 A.D Montano, Capital 345,262.50
TOTAL 733,200.00 733,200.00