Group Six is the owner of G6 Consulting Company, It

business. He decided to change the accounting system th

to an automated accounting system. It will be used for the

The business source of revenue is from consulting fees c

This are the transactions happened on the month of Nove
DATE TRANSACTION

Nov. 1 Nokdu, the owner, invested cash and P500,000 50000

2 The entity paid rent on office space for two months
2 Bought office tables for P14,000 in cash.
2 Bought office furniture in credit, 35000
3 Received delivery of laptop computer, P48,000. Paid 5
The business acquires office equipment. The purchas
Nokdu withdrew P 45,000 for personal use.
Received payment from the clientss already billed on
7 Additional investment from by owner, P65,000
Made partial payment on loffice chairs acquired on cre
8 Billed costumers for the service performed, P37,500
10 Paid P8,000 for the electric bill.
12 A new client immediately pays 15,000 for services to b
15 A janitor was paid for cleaning and maintenance, P3,0
17 Billed the clients for the service rendered, 25,500.
19 Received cash from the previous billing made on Nov 8
21 Paid 57000 to the city treasurer for the tax.
22 Paid salaries of P64000 for the month.
Acquired additional office equipment for cash, P34,50
25 Paid P44,600 for the TV advertisement for the month.
26 Billed the clients for the service rendered, P38,950.
27 Acquired 2 months insurance policy paid in advance, P
Withdrew P34,500 for personal use.
28 Received advance payment from a client of P102,300
 Consulting Company, It is established as sole proprietorship
he accounting system they currently using, from manual bookkeepin
m. It will be used for the month of November of the current year.

s from consulting fees collected to clients.

ed on the month of November.

ash and P500,000 50000worth of office equipment in the business

space for two months
00 in cash.
t, 35000
mputer, P48,000. Paid 50℅ down, balance due in 30 days.
equipment. The purchase price is 100,000, pays 25,000 cash and s
personal use.
lientss already billed on Nov. 4, P30,000
owner, P65,000
e chairs acquired on credit, P37,000
e performed, P37,500

15,000 for services to be performed at the end of the month.

g and maintenance, P3,000.
e rendered, 25,500.
us billing made on Nov 8.
r for the tax.
e month.
ipment for cash, P34,500.
rtisement for the month.
ce rendered, P38,950.
policy paid in advance, P38,000.
al use.
rom a client of P102,300 for the service to be rendered at this month
oprietorship
anual bookkeeping
e current year.

t in the business

30 days.
25,000 cash and signs a note for the balance

the month.
dered at this month and for the next two months.
CODE PARTICULAR
101 Cash ASSET
102 Accounts Receivable ASSET
103 Office Furniture ASSET
104 Office Equipment ASSET
105 Prepaid Rent ASSET
106 Prepaid Insurance ASSET
201 Accounts Payable LIABILITY
202 Notes Payable LIABILITY
203 Unearned Consulting Revenu LIABILITY
301 Group Six, Capital EQUITY
302 Group Six, Withdrawal EQUITY
303 Income Summary EQUITY
401 Consulting Revenue INCOME
501 Advertising Expense EXPENSE
502 Insurance Expense EXPENSE
503 Maintenance Expense EXPENSE
504 Miscellaneous Expense EXPENSE
505 Rent Expense EXPENSE
506 Salaries Expense EXPENSE
507 Tax Expense EXPENSE
508 Utilities Expense EXPENSE
DATE CODE PARTICULAR DEBIT CREDIT
1-Nov-20 101 #ADDIN? $500,000
104 #ADDIN? $50,000
301 #ADDIN? $550,000
#N/A
105 #ADDIN? $10,000
101 #ADDIN? $10,000
#N/A
2-Nov-20 103 #ADDIN? $14,000
101 #ADDIN? $14,000
#N/A
103 #ADDIN? $35,000
201 #ADDIN? $35,000
#N/A
11/3/2020 104 #ADDIN? $48,000
101 #ADDIN? $24,000
201 #ADDIN? $24,000
#N/A
4-Nov-20 102 #ADDIN? $52,000
401 #ADDIN? $52,000
#N/A
104 #ADDIN? $100,000
101 #ADDIN? $25,000
202 #ADDIN? $75,000
#N/A
5-Nov-20 101 #ADDIN? $10,000
401 #ADDIN? $10,000
#N/A
6-Nov-20 508 #ADDIN? $45,000
101 #ADDIN? $45,000
#N/A
101 #ADDIN? $30,000
102 #ADDIN? $30,000
#N/A
7-Nov-20 101 #ADDIN? $65,000
301 #ADDIN? $65,000
#N/A
201 #ADDIN? $37,000
101 #ADDIN? $37,000
#N/A
8-Nov-20 102 #ADDIN? $37,500
401 #ADDIN? $37,500
 #N/A
10-Nov-20 508 #ADDIN? $8,000
101 #ADDIN? $8,000
#N/A
12-Nov-20 101 #ADDIN? $15,000
203 #ADDIN? $15,000
#N/A
15-Nov-20 503 #ADDIN? $3,000
101 #ADDIN? $3,000
#N/A
17-Nov-20 102 #ADDIN? $25,500
401 #ADDIN? $25,500
#N/A
19-Nov-20 101 #ADDIN? $37,500
102 #ADDIN? $37,500
#N/A
21-Nov-20 507 #ADDIN? $5,700
101 #ADDIN? $5,700
#N/A
24-Nov-20 506 #ADDIN? $64,000
101 #ADDIN? $64,000
#N/A
104 #ADDIN? $34,500
101 #ADDIN? $34,500
#N/A
27-Nov-20 501 #ADDIN? $44,600
101 #ADDIN? $44,600
#N/A
29-Nov-20 102 #ADDIN? $38,950
401 #ADDIN? $38,950
#N/A
30-Nov-20 106 #ADDIN? $38,000
101 #ADDIN? $38,000

302 #ADDIN? $34,500

101 #ADDIN? $34,500
#N/A
101 #ADDIN? $102,300
203 #ADDIN? $102,300
CODE PARTICULARS DEBIT CREDIT
203 #ADDIN? $15,000
401 #ADDIN? $15,000
#N/A
502 #ADDIN? $1,900
105 #ADDIN? $1,900
#N/A
505 #ADDIN? $5,000
105 #ADDIN? $5,000
#N/A
203 #ADDIN? $51,150
101 #ADDIN? $51,150
 Group Six Consulting Service
Unadjusted Trial Balance
For The Month Ended Nov. 31,2020
CODE CREDIT
101 Cash 759,800.00 387,300.00
102 Accounts Receivable 153,950.00 67,500.00
103 Office Furniture 49,000.00 -
104 Office Equipment 232,500.00 -
105 Prepaid Rent 10,000.00 -
106 Prepaid Insurance 38,000.00 -
201 Accounts Payable 37,000.00 59,000.00
202 Notes Payable - 75,000.00
203 Unearned Consulting Revenue - 117,300.00
301 Group Six, Capital - 615,000.00
302 Group Six, Withdrawal 34,500.00 -
303 Income Summary
401 Consulting Revenue - 163,950.00
501 Advertising Expense 44,600.00 -
502 Insurance Expense - -
503 Maintenance Expense 3,000.00 -
504 Miscellaneous Expense - -
505 Rent Expense - -
506 Salaries Expense 64,000.00 -
507 Tax Expense 5,700.00 -
508 Utilities Expense 53,000.00 -
1,485,050.00 1,485,050.00
 Unadjusted Trial Balance

CODE PARTICULARS DEBIT CREDIT

101 Cash 372,500 -
102 Accounts Receivable 86,450 -
103 Office Furniture 49,000 -
104 Office Equipment 232,500 -
105 Prepaid Rent 10,000 -
106 Prepaid Insurance 38,000 -
201 Accounts Payable - 22,000
202 Notes Payable - 75,000
203 Unearned Consulting Revenue - 117,300
301 Group Six, Capital - 615,000
302 Group Six, Withdrawal 34,500 -
303 Income Summary - -
401 Consulting Revenue - 163,950
501 Advertising Expense 44,600 -
502 Insurance Expense - -
503 Maintenance Expense 3,000 -
504 Miscellaneous Expense - -
505 Rent Expense - -
506 Salaries Expense 64,000 -
507 Tax Expense 5,700 -
508 Utilities Expense 53,000 -
993,250 993,250
Profit
 Group Six Consulting Service
Worksheet
For the Month Ended Nov,31,2020

ADJUSTMENTS Adjusted Trial Balance

DEBIT CREDIT DEBIT

- 51,150 321,350
- - 86,450
- - 49,000
- - 232,500
- 6,900 3,100
- - 38,000
- - -
- - -
66,150 - -
- - -
- - 34,500
- - -
- 15,000 -
- - 44,600
1,900 - 1,900
- - 3,000
- - -
5,000 - 5,000
- - 64,000
- - 5,700
- - 53,000
73,050 73,050 942,100

Err:504
 Income Statement

CREDIT DEBIT CREDIT

-
-
-
-
-
-
22,000
75,000
51,150
615,000
-
- - -
178,950 - 178,950
- 44,600 -
- 1,900 -
- 3,000 -
- - -
- 5,000 -
- 64,000 -
- 5,700 -
- 53,000 -
942,100 177,200 178,950
1750
178,950
 Balance Sheet

DEBIT CREDIT
321,350 -
86,450 -
49,000 -
232,500 -
3,100 -
38,000 -
- 22,000
- 75,000
- 51,150
- 615,000
34,500

764,900 763,150
1,750
764,900
 Group Six Consulting Service
Income Statement
For The Month Ended Nov. 31,2020
Revenue
401 #ADDIN? 178,950
#N/A
Expenses #N/A
501 #ADDIN? 44,600
502 #ADDIN? 1,900
503 #ADDIN? 3,000
504 #ADDIN? -
505 #ADDIN? 5,000
506 #ADDIN? 64,000
507 #ADDIN? 5,700
508 #ADDIN? 53,000
Total Expenses 177,200
Profit 1750
178,950
 Group Six Consulting Service
Statement of Owners Equity
For the Month Ended November 31,2020

301 Group Six, Capital 615,000

Add: Investment
Profit 1,750
302 Less: Withdrawal 34,500
301 Group Six, Capital 582,250
 Group Six Consulting Service
Balance Sheet
Nov.31,2020

ASSETS

101 Cash 321,350

102 Accounts Receivable 86,450
103 Office Furniture 49,000
104 Office Equipment 232,500
105 Prepaid Rent 3,100
106 Prepaid Insurance 38,000
Total Assets

LIABILITIES

201 Accounts Payable 22,000

202 Notes Payable 75,000
203 Unearned Consulting Revenue 51,150

Total Liabilities

Owner's Equity

301 Group Six, Capital

Total Liabilities and Owners Equity
Six Consulting Service
ance Sheet
Nov.31,2020

ASSETS

730,400

LIABILITIES

148,150

Owner's Equity

582,250
730,400