BKP SUMMER Q2

Estimated amount of losses from uncollectible accounts of the business.

• Bad Debts

• Accumulated Depreciation

Duties incurred in the current period payable to the BIR

• Taxes

• Rent

Amount of supplies used.

• Supplies Expense

• Supplies

Cost of goods purchased and sold or materials manufactured and sold.

• Cost of Sales

• Cost of goods available for Sale

Amount of income earned for services rendered by a service concern business.

• Service Income

• Expenses

Amount of rental earned for the period.

• Rent Income

• Rent Expense

Total sales of merchandise sold.

• Sales

• Purchases

Amount of capital contribution of the owner or owners to the business.

• Owner's Capital

• Owner's Drawing

Amount withdrawn by the owner from the assets of the business for personal use. Other account titles which can be used are owner’s personal or owner’s withdrawal.

• Owner's Capital

• Owner's Drawing

Coins Currency, and other cash equivalents owned by the business and not yet deposited in the bank.

• Cash on Hand

• Cash in Bank