Company Name - Period

JOURNAL ENTRIES
Date Account Debit Credit 1 Journal
1 xxxx' <Select Account> xxxx 2 Post to Ledger
<Select Account> xxxx 3 Trial Balance
Description 4 Adjustments - Journal
5 Adjustments - Ledger
2 6 Adjusted Trial Balance
7 Financial Statements
Income Statement
Balance Sheet
Changes in Equity
Statement of Cash Flow
8 Closing - Journal
9 Closing - Ledger
Post to Ledger
Trial Balance
Adjustments - Journal
Adjustments - Ledger
Adjusted Trial Balance
Financial Statements
Income Statement
Balance Sheet
Changes in Equity
Statement of Cash Flows
Closing - Journal
Closing - Ledger
COMPANY NAME - PERIOD
ASSET ACCOUNTS
CASH
Date Debit Credit Balance
Beg. Balance -
-
-
-
-
-
-
-
-
-
-
-

-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Balance as of ( - - -
LIABILITY ACCOUNTS EQUITY ACCOUNTS
ACCOUNTS PAYABLE OWNER, CAPITAL
Date Debit Credit Balance Date Debit
Beg. Balance - Beg. Balance
-
-
-
-
-
-
-
-
-
-
Balance as of ( ) - - - Unadjusted Balance as of ( ) -
December 31, xxxx xxxx - Adjusted

ACCOUNT NAME OWNER, DRAWING

Date Debit Credit Balance Date Debit
Beg. Balance - Beg. Balance
-
-
-
-
-
-
-
-
-
-
Balance as of ( ) - - - Balance as of ( ) -
 REVENUE ACCOUNTS
Sales
Credit Balance Date Debit Credit Balance
- Beg. Balance -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- - Balance as of ( ) - - -

Credit Balance
-
-
-
-
-
-
-
-
-
-
-
- -
EXPENSE ACCOUNTS
COST OF GOODS SOLD
Date Debit Credit Balance
Beg. Balance -
-
-
-
-
-
-
-
-
-
-
Balance as of ( ) - - -
 Company Name - Period
1
ADJUSTING JOURNAL ENTRIES 2
Date Account Debit Credit 3
1 xxxx' <Select Account> xxxx 4
<Select Account> xxxx 5
Description

2
Prepaid Expenses Amortization
Unearned Revenue earned portion
Accrued Revenue
Accrued Expense
Depreciation
COMPANY NAME
Trial Balance
PERIOD

Unadjusted
ACCOUNTS Debit
Cash -

Owner's Equity

Total -
Unadjusted
Credit

-
COMPANY NAME
Adjusted Trial Balance
PERIOD

Unadjusted
ACCOUNTS Debit
Cash -
-
-
-
-
-
-
-
-
Owner's Equity -
Total -

Total -
Unadjusted Adjustments Adjusted
Credit Debit Credit Debit Credit
- xxxx #VALUE! -
- xxxx
-
-
-
-
-
-
-
-
- - - #VALUE! -

-
Company Name
Income Statement
For the Year Ended xxxx
(In amount of PHP)

Sales/ Service revenue

Cost of Goods Sold/ Cost of Services
Gross Profit -
Operating Expenses

Total Operating Expenses -

Operating Income -
Other Income (Loss)
Gain (Loss) on Disposal of Assets
Interest Income
Interest Expense
Total Other Income (Loss) -
Income before Income Tax -
Provision for Income Tax
Net Income -
Check
Should be linked from Adjusted Trial Balance
Company Name
Statement of Financial Position
As of December 31, xxxx and December 31, xxxx
(In amount of PHP)

12/31/XXXX 12/31/XXXX
ASSETS
Current Assets
Cash
Accounts Receivable
Inventory
New account
Prepaid Expenses
Total Current Assets - -
Non-Current Assets
Property & Equipment - Cost
Property & Equipment - Accumulated Depreciation
Property & Equipment - Net - -

TOTAL ASSETS - -

LIABILITIES
Current Liabilities
Accounts Payable
Accrued Expenses
Interest Payable
Income Tax Payable
Total Current Liabilities - -
Non-Current Liabilities
Loan Payable
TOTAL LIABILITIES - -

Shareholder's Equity
Common Stock
Retained Earnings (Deficit)
Total Shareholder's Equity - -

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY - -

Check: - -
Be mindful of the entity's form (organization)
Owner's Equity Partners' Equity Shareholders' Equity
Name of Owner's EqName of Partners's Common Stock
Drawing, Owner's Drawing, Partner's Preferred Stock
Retained Earnings
COMPANY NAME
Statement of Changes in Shareholder's Equity
For the Month Ended December 31, xxxx and Year Ended December 31, xxxx
(In amount of PHP)

Total
Retained Earnings
Common Stock Shareholder's
(Deficit)
Equity
Balances as at xxxx - - -
Add: Issuance of Shares - - -
Balances as at xxxx - - -
Add: Net Income - - -
Less: Dividends - - -
Balances as at xxxx - - -
Check
BE MINDFUL OF THE COMPANY's FoRM AND ORgANIZATION

Name of Owner's Name of Owner's Total Owner's

Equity Drawing Equity

- - -
- - -
- - -
- - -
- - -
- - -

Can be skipped for the meantime
Can be skipped for the meantime
Progression, Time Killing
Journal Entry
Post it to Ledger
Then Put the Ledger balance to your Trial Balance
Journal Entry - Adjustments
Post it to Ledger - Adjustments
Then Put the Adjusted Ledger balance to your Adjusted Trial Balance
Income Statement Preparation
Balance Sheet
Statement of Changes In Equity
Save-Mart
Chart of Accounts

<Select Account>
Cash BS
Accounts Receivable BS
Merchandise Inventory BS
Supplies Inventory BS
Prepaid Insurance BS
Store Equipment BS
Accumulated Depreciation BS
Accounts Payable BS
Accrued Interest Payable BS
Salaries Payable BS
Notes Payable BS
Common Stock BS
Retained Earnings BS
Sales IS Should Be Zero
Sales Discount IS Should Be Zero
Cost of Merchandise Sold IS Should Be Zero
Selling Expense IS Should Be Zero
Sales Salaries IS Should Be Zero
Miscellaneous General expense IS Should Be Zero
Social Security Tax Expense IS Should Be Zero
Depreciation Expense IS Should Be Zero
Supplies Expense IS Should Be Zero
Insurance Expense IS Should Be Zero
Interest Expense IS Should Be Zero
Bank Service Charges IS Should Be Zero
Income Summary IS Should Be Zero