W.

Kayayan Accounting Firm

General Journal

Date Accounts Titles and Explanation F Debit

May 1 Cash 110 P100,000
W. Kayayan, Capital 310
Initial investment

1 Office Equipment 160 P50,000

Accounts Payable 210
Computer units purchased

3 Office Supplies 140 P20,000

Accounts Payable 210
Office supplies purchased on account

5 Office Supplies 140 P10,000

Cash 110
Office Supplies purchased

6 Accounts Payable 210 P70,000

Cash 110
Full payment of account

10 Cash 110 P25,000

Service Revenue 410
Service revenue rendered

15 Accounts Receivable 120 P30,000

Service Revenue 410
Service revenue rendered on account

15 Utilities Expense 520 P3,500

Cash 110
Paid meralco bill

15 Salaries Expense 530 P15,000

Cash 110
Paid salaries of office staff

20 Cash 110 P30,000

Accounts Receivable 120
Collected payment from customer
22 Cash 110 P45,000
Interest Expense 550 P5,000
Notes Payable 220
Proceeds of loan

25 Telephone Expense 540 P6,000

Cash 110
Paid telephone bill

27 W. Kayayan, Withdrawals 320 P20,000

Cash 110
Withdrawals of the owner for personal use
 Credit

P100,000

P50,000

P20,000

P10,000

P70,000

P25,000

P30,000

P3,500

P15,000

P30,000
P50,000

P6,000

P20,000
W. Kayayan Accounting Firm
General Ledger

Cash
Date Explanation F Debit Date
1-May Initial Investment P100,000 5-May
10-May Service Revenue rendered P25,000 6-May
20-May Collected payment from customer P30,000 15-May
22-May Proceeds of loan P45,000 15-May
25-May
P200,000 27-May
P75,500

W. Kayayan Capital
Date Explanation F Debit Date
1-May
-
-

Office Equipment
Date Explanation F Debit Date
1-May Computer units purchased P50,000
-
P50,000

Accounts Payable
Date Explanation F Debit Date
6-May Full payment of account P70,000 1-May
- 3-May
P70,000

Office Supplies
Date Explanation F Debit Date
3-May Office supplies purchased on account P20,000
5-May Office supplies purchased P10,000
P30,000

Service Revenue
Date Explanation F Debit Date
10-May
- 15-May
-
 Accounts Receivable
Date Explanation F Debit Date
15-May Service revenue rendered on account P30,000 20-May
-
P30,000

Utilities Expense
Date Explanation F Debit Date
15-May Paid Meralco bill P3,500
-
P3,500

Salaries Expense
Date Explanation F Debit Date
15-May Paid salaries of office staff P15,000
-
P15,000

Interest Expense
Date Explanation F Debit Date
22-May Proceeeds of loan P5,000
-
P5,000

Notes Payable
Date Explanation F Debit Date
22-May
-
-

Telephone Expense
Date Explanation F Debit Date
25-May Paid telephone bill P6,000
-
P6,000

W. Kayayan, Withdrawal
Date Explanation F Debit Date
27-May Withdrawals of the owner for personal use P20,000
-
P20,000
 Explanation F Credit
Office supplies purchased P10,000
Full payment of account P70,000
Paid meralco bill P3,500
Paid salaries of office staff P15,000
Paid telephone bill P6,000
Withdrawals of owner for personal use P20,000
P124,500

Capital
Explanation F Credit
Initial Investment P100,000
-
P100,000

pment
Explanation F Credit

-
-

ayable
Explanation F Credit
Computer units purchased P50,000
Office supplies purchased on account P20,000
P70,000

plies
Explanation F Credit

-
-

venue
Explanation F Credit
Service revenue rendered P25,000
Service revenue rendered on account P30,000
P55,000
eivable
Explanation F Credit
Collected payment from customer P30,000
-
P30,000

pense
Explanation F Credit

-
-

pense
Explanation F Credit

-
-

pense
Explanation F Credit

-
-

able
Explanation F Credit
Proceeds of loan P50,000
-
P50,000

xpense
Explanation F Credit

-
-

n, Withdrawal
Explanation F Credit

-
-
 W. Kayayan Accounting Fir
Worksheet
For the Period Ended May 30,

Account Titles Trial Balance Adjustments

Dr Cr Dr Cr
Cash P75,000
Account Receivable
Notes Receivable
Office Supplies P30,000
Land
Office Equipment P50,000
Accumulated De. O/E
Furniture & Fixtures
Accumulated De. F/F
Accounts Payable
Notes Payable P50,000
Utilities Payable
Salaries Payable
Interest Payable
Unearned Revenue
W. Kayayan, Capital P100,000
W. Kayayan, Withdrawal P20,000
Income Summary
Service Revenue P55,000
Office Supplies Expense
Utilities Expense P3,500
Salaries Expense P15,000
Telephone Expense P6,000
Interest Expense P5,000
Rent Expense
Depreciation Expense -O/E
Depreciation Expense -F/F
Miscellaneous Expense
Accrued Rent
Totals P205,000 P205,000
W. Kayayan Accounting Firm
Worksheet
the Period Ended May 30, 2020

Adjusted Trial Balance Statement of Profit or Loss Statement of Financial Position

Dr Cr Dr Cr Dr
ement of Financial Position
Cr