General Journal 1

Item Account Titles and Explanation Dr. Cr.

1 Cash P150,000.00
Centeno, Capital P150,000.00
Cash Centeno, Capital
P150,000.00 P150,000.00

2 Rent Expense 15,000.00

Cash 15,000.00
Rent Expense Cash
15,000.00 15,000.00

3 Office Equipment 18,750.00

Accounts payable 18,750.00
Office Equipment Accounts Payable
18,750.00 18,750.00
18,750.00 18,750.00
4 Advertising expense 2,600.00
Cash 2,600.00
Advertising
Expense Cash
2,600.00 2,600.00

5 Cash 35,950.00
Service Income 35,950.00
Cash Service Income
35,950.00 35,950.00

6 Accounts Payable 18,750.00

Notes Payable 18,750.00
Cash Service Income
35,950.00 35,950.00

7 Accounts receivable 52,830.00

Service Income 52,830.00
Accounts
Receivable Service Income
52,830.00 52,830.00

8 Taxes and Licenses 1,830.00

Cash 1,830.00

Taxes and Licenses Cash

 1,830.00 1,830.00

9 Salaries Expense 16,900.00

Cash 16,900.00
Salaries Expense Cash
16,900.00 16,900.00

10 Utilities Expense 5,280.00

Accounts Payable 5,280.00
Utilities Expense Accounts Payable
5,280.00 5,280.00

11 Ceteno, Personal 15,000.00

Cash 15,000.00
Ceteno, Personal Cash
15,000.00 15,000.00

12 Notes Receivable 52,830.00

Accounts Receivable 52,830.00
Accounts
Notes Receivable Receivable
52,830.00 52,830.00

13 Office Supplies 9,420.00

Cash 9,420.00
Office Supplies Cash
9,420.00 9,420.00

14 Telephone Bill 2,435.00

Cash 2,435.00
Utilities Expense Cash
2,435.00 2,435.00

15 Cash 40,000.00
Centeno, Capital 40,000.00
Cash Cash
40,000.00 40,000.00
 Cash Ceteno, Capital
150,000.00 15,000.00 P150,000.00
35,950.00 2,600.00 40,000.00
40,000.00 1,830.00 40,000.00
16,900.00
15,000.00 Ceteno, Personal
9,420.00 15,000.00
2,435.00
225,950.00 63,185.00 Service Income
(63,185.00) 35,950.00
162,765.00 52,830.00
88,780.00
Accounts receivable
52,830.00 52,830.00 Accounts payable
(52,830.00) 18,750.00 18,750.00
- 5,280.00
24,030.00
Notes receivable (18,750.00)
52,830.00 5,280.00

Office Supplies Notes payable

9,420.00 18,750.00

Office Equipment
18,750.00

Advertising expense
2,600.00

Rent Expense
15,000.00

Salaries Expense
16,900.00

Taxes and Licenses

1,830.00

Telephone Expense
2,435.00
2,435.00
 Utilities Expense
5,280.00
5,280.00
 Centeno Law Office
Trial Balance
Account Titles Debit
Cash 162,765.00
Notes Recievable 52,830.00
Office Supplies 9,420.00
Office Equipment 18,750.00
Advertising Expense 2,600.00
Rent Expense 15,000.00
Salaries Expense 16,900.00
Taxes and Licenses 1,830.00
Telephone Expense 2,435.00
Utilities Expense 5,280.00
Ceteno, Personal 15,000.00
Service Income 88,780.00
Accounts Payable 5,280.00
Notes Payable 18,750.00
Ceteno, Capital 190,000.00
TOTAL 302,810.00 302,810.00
 Centeno Law Office
Statement of Income Statement

Service Income 88,780.00

Advertising Expense 2,600.00
Rent Expense 15,000.00
Salaries Expense 16,900.00
Taxes and Licenses 1,830.00
Telephone Expense 2,435.00
Utilities Expense 5,280.00 (44,045.00)
Profit or Loss 44,735.00
 Centeno Law Office
Statement of Financial Position

Assets Debit Credit

Current Assets
Cash 162,765.00
Notes Recievable 52,830.00
Office Supplies 9,420.00
Non-current Assets
Office Equipment 18,750.00
Total Assets 243,765.00
Liability and Owner's Equity
Current Liabilities
Accounts Payable 5,280.00
Non-current Liabilities
Notes Payable 18,750.00
Total Liabilities 24,030.00

Owner's Equity
Ceteno, Capital, beginning 150,000.00
Additional Investment 40,000.00
Profit 44,735.00
-Ceteno, Personal (15,000.00)
Total Owner's Equity 219,735.00

Total Liabilities and Owner's Equity 243,765.00

 1 Service Income Revenue Income Statement
2 Building Asset Balance Sheet
3 Prepaid Insurance Asset Balance Sheet
4 Owner's Capital Equity Balance Sheet
5 Accounts Payable Liability Balance Sheet
6 Rent Expense Expense Balance Sheet
7 Notes Receivable Asset Balance Sheet
8 Owner's Personal Equity Balance Sheet
9 Delivery Equipment Asset Balance Sheet
10 Taxes and Licenses Expense Balance Sheet
11 Commission Income Revenue Income Statement
12 Supplies Expense Expense Balance Sheet
13 Prepaid Interest Asset Balance Sheet
14 Furniture and Fixtures Asset Balance Sheet
15 Depreciation Expense Expense Balance Sheet
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