FUNDAMENTALS IN ACCOUNTING, BUSINESS & MANAGEMENT II

ACTIVITY 1-2
CLOSING ENTRIES

MAKISIG GENERAL SERVICES

Trial Balance
December 31, 2018

ACCOUNT TITLES DR CR
Cash 112000
Accounts Receivable 53500
Prepaid Insurance 24000
Cleaning Supplies 35000
Land 150000
Building 50000
Equipment 35000
Accounts Payable 25000
Loan Payable 75000
Makisig Capital 250000
Makisig Drawing 3000
Service Income 142300
Utilities Expense 2500
Salaries Expense 15000
Advertising Expense 5000
Interest Expense 2300
Miscellaneous Expense 5000
Total: 492300 492300

FUNDAMENTALS IN ACCOUNTING, BUSINESS & MANAGEMENT II

ACTIVITY 1-2
CLOSING ENTRIES

MAKISIG GENERAL SERVICES

Trial Balance
December 31, 2018

ACCOUNT TITLES DR CR
Cash 112000
Accounts Receivable 53500
Prepaid Insurance 24000
Cleaning Supplies 35000
Land 150000
Building 50000
Equipment 35000
Accounts Payable 25000
Loan Payable 75000
Makisig Capital 250000
Makisig Drawing 3000
Service Income 142300
Utilities Expense 2500
Salaries Expense 15000
Advertising Expense 5000
Interest Expense 2300
Miscellaneous Expense 5000
Total: 492300 492300
COLLEGE

MAKISIG GENERAL SERVICES

Trial Balance
December 31, 2018

ACCOUNT TITLES DR CR
Cash 112000
Accounts Receivable 53500
Prepaid Insurance 24000
Cleaning Supplies 35000
Land 150000
Building 50000
Equipment 35000
Accounts Payable 25000
Loan Payable 75000
Makisig Capital 250000
Makisig Drawing 3000
Service Income 142300
Utilities Expense 2500
Salaries Expense 15000
Advertising Expense 5000
Interest Expense 2300
Miscellaneous Expense 5000
 Total: 492300 492300

MATAPAT LAUNDRY BUSINESS

Trial Balance
December 31, 2018

ACCOUNT TITLES DR CR
Cash 100000
Accounts Receivable 45000
Prepaid Rent 25000
Supplies 15000
Machineries 100000
Equipment 50000
Furnitures & Fixtures 35000
Accounts Payable 40000
Loan Payable 50000
Capital 250000
Matapat Drawing 2450
Service Income 52250
Interest Income 10,000
Utilities Expense 2500
Salaries Expense 15000
Advertising Expense 5000
Supplies Expense 2300
Rent Expense 5000
 Total: 402250 402250
EMPLOYMENT
MAGALANG'S BARBER SHOP
Trial Balance
December 31, 2018

ACCOUNT TITLES DR CR
Cash 50000
Notes Receivable 15000
Prepaid Rent 25000
Supplies 10000
Machineries 80000
Equipment 35000
Furnitures & Fixtures 50000
Accounts Payable 35000
Loan Payable 45000
Capital 200000
Matapat Drawing 2450
Service Income 35000
Interest Income 5,950
Utilities Expense 10,000
Salaries Expense 25000
Advertising Expense 5000
Supplies Expense 3500
Rent Expense 10,000
Total: 320950 320950
ENTREPRENEURSHIP