FRANK ABDON

Chart of Account

ASSETS LIABILITIES
Account Account
Account Name Account Name
Code Code

100 Cash 200 Accounts Payable

101 Accounts Receivable
102 Accounting Supplies
103 Office Supplies
104 Prepaid Insurance
105 Office Equipment

EQUITY
Account
Account Name
Code

300 Abdon, Capital

301 Abdon, Drawing

EXPENSES INCOME (REVENUE)

Account Account
Account Name Account Name
Code Code
500 Rent Expense 400 Service Revenue
501 Salaries Expense
502 Utilities Expense
 DATE
DESCRIPTION PR
2015
August 1 Cash 100
Abdon, Capital 300
To record initial investment of the owner.

3 Office Equipment 105

Cash 100
Accounts Payable 200
To record purchased of office equipment
on account and in cash.

4 Office Supplies 103

Accounts Payable 200
To record purchased of various office
supplies on account.

6 Prepaid Insurance 104

Cash 100
To record advance payment or insurance.

8 Rent Expense 500

Cash 100
To record payment of rent for the current period.

9 Cash 100
Service Revenue 400
To record collection of cash from client for
service rendered.

10 Accounting Supplies 102

Cash 100
To record purchased of supplies in cash.

12 Salaries Expense 501

Cash 100
To record payment of salaries to
employees.

15 Accounts Receivable 101

Service Revenue 400
To record accounting service rendered
on account.

17 Accounts Payable 200

 Cash 100
To record payment of office equipment
purchased on account last August 3.

18 Utilities Expense 502

Cash 100
To record payment of electricity bill.

21 Cash 100
Accounts Receivables 101
To record collection of service rendered
on account.

24 Abdon, Drawing 301

Cash 100
To record personal withdrawal of the
owner.

27 Salaries Expense 501

Cash 100
To record payment of salaries of
employees.

28 Accounts Payable 200

Cash 100
To record payment of supplies purchased
on account last August 4.

31 Utilities Expense 502

Cash 100
To record payment of water bill.
DEBIT (Dr.) CREDIT (Cr.)

500,000.00
500,000.00

104,000.00
24,000.00
80,000.00

18,000.00
18,000.00

25,000.00
25,000.00

15,100.00
15,100.00

38,500.00
38,500.00

15,200.00
15,200.00

14,700.00
14,700.00

50,500.00
50,500.00

40,000.00
 40,000.00

5,000.00
5,000.00

25,000.00
25,000.00

10,000.00
10,000.00

35,000.00
35,000.00

8,000.00
8,000.00

5,000.00
5,000.00
 CASH (100)
Debit (Dr.) Credit (Cr.)
08/01/21 ₱ 500,000.00 ₱ 24,000.00 08/03/2015
08/09/21 38,500.00 25,000.00 08/06/2015
08/21/21 25,000.00 15,100.00 08/08/2015
15,200.00 08/10/2015
14,700.00 08/12/2015
40,000.00 08/17/2015
5,000.00 08/18/2015
10,000.00 08/24/2015
35,000.00 08/27/2015
8,000.00 08/28/2015
5,000.00 08/31/2015
₱ 563,500.00 ₱ 197,000.00
₱ 366,500.00

ACCOUNTS RECEIVABLES (101)

Debit (Dr.) Credit (Cr.)
08/15/15 ₱ 50,500.00 ₱ 25,000.00 08/21/2015

₱ 50,500.00 ₱ 25,000.00
₱ 25,500.00

ACCOUNTING SUPPLIES (102)

Debit (Dr.) Credit (Cr.)
08/10/15 ₱ 15,200.00

₱ 15,200.00 ₱ -
₱ 15,200.00

OFFICE SUPPLIES (103)

Debit (Dr.) Credit (Cr.)
08/04/15 ₱ 18,000.00

₱ 18,000.00 ₱ -
₱ 18,000.00
 PREPAID INSURANCE (104)
Debit (Dr.) Credit (Cr.)
08/06/15 ₱ 25,000.00

₱ 25,000.00 ₱ -
₱ 25,000.00

OFFICE EQUIPMENT (105)

Debit (Dr.) Credit (Cr.)
08/03/15 ₱ 104,000.00

₱ 104,000.00 ₱ -
₱ 104,000.00
 ACCOUNTS PAYABLE (200)
Debit (Dr.) Credit (Cr.)
08/17/2015 ₱ 40,000.00 ₱ 80,000.00 08/03/2015
08/28/2015 8,000.00 18,000.00 08/04/2015

₱ 48,000.00 ₱ 98,000.00
₱ 50,000.00

ABDON, CAPITAL (300)

Debit (Dr.) Credit (Cr.)
₱ 500,000.00 08/01/2015

₱ - ₱ 500,000.00
₱ 500,000.00

ABDON, DRAWING (301)

Debit (Dr.) Credit (Cr.)
08/24/2015 ₱ 10,000.00

₱ 10,000.00 ₱ -
₱ 10,000.00

SERVICE REVENUE (400)

Debit (Dr.) Credit (Cr.)
₱ 38,500.00 08/09/2015
50,500.00 08/15/2015

₱ - ₱ 89,000.00
₱ 89,000.00

RENT EXPENSE (500)

Debit (Dr.) Credit (Cr.)
08/08/2015 ₱ 15,100.00

₱ 15,100.00 ₱ -
₱ 15,100.00
 SALARIES EXPENSE (501)
Debit (Dr.) Credit (Cr.)
08/12/2015 ₱ 14,700.00
08/27/2015 35,000.00

₱ 49,700.00 ₱ -
₱ 49,700.00

UTILITIES EXPENSE (502)

Debit (Dr.) Credit (Cr.)
08/18/2015 ₱ 5,000.00
08/31/2015 5,000.00

₱ 10,000.00 ₱ -
₱ 10,000.00