Winnie-the-Pooh Law Firm

Adjusting Entries
Date
2019
Sep-30
 Winnie-the-Pooh Law Firm
Adjusting Entries
Particulars PR. Debit

Interest Expense 500

Interest Payable
To record the adjustment for Interest accrued

Salaries Expense 670

Salaries Payable
Tor record the adjustment for Salaries earned but not yet paid

Unearned Service Revenue 3,540

Service Revenue
To record the adjustment for the earned unearned service revenue

Supplies Expense 1,200

Supplies
To record the adjustment for the used supplies

Depreciation Expense 212

Accumulated Depreciation - Office Equipment
To record the adjustment for equipment's depreciation
Credit

500

670

3,540

1,200

212
 Winnie-the-Pooh Law Firm
Unadjusted Trial Balance
September 30, 2019
Account Title Debit
Cash P 10, 060
Accounts Receivable
Prepaid Expenses 7, 800
Supplies 1, 460
Office Equipment 26, 400
Accumulated Depreciation - Office Equipment
Notes Payable
Interest Payable
Salaries Payable
Unearned Service Revenue
Pooh, Capital
Pooh, Withdrawal 3, 000
Service Revenue
Supplies Expense 2, 680
Salaries Expense 1, 200
Depreciation Expense
Interest Expense
TOTALS P 52, 600
Winnie-the-Pooh Law Firm
Adjustments Adjusted Trial Balance
September 30, 2019 September 30, 2019
Credit Debit Credit Debit Credit
P 10, 060

7, 800
d. 1, 200 260
26, 400
e. 212 P 212
P 16, 000 16, 000
a. 500 500
b. 670 670
15, 020 c. 3, 540 11, 480
20, 000 20, 000
3, 000
1, 580 c. 3, 540 5, 120
d. 1, 200 3, 880
b. 670 1, 870
e. 212 212
a. 500 500
P 52, 600 P 6, 122 P 6, 122 P 53, 982 P 53, 982
 Winnie-the-Pooh Law Firm
Income Statement
For the month ended September 30, 2019
(In Philippine Peso)
Service Revenue 5, 120
Less: Operating Expenses
Supplies Expense 3, 880
Salaries Expense 1, 870
Depreciation Expense 212 5, 962
Operating Loss 842
Add: Interest Expense 500
Net Loss 1, 342