Professional Documents
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Acctg Assignment
Acctg Assignment
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The following assets were received from Kaz Zionra: Accounts receivable, P15,000; Supplies, P12,500; Office equipment, P75,0
Kaz opened a checking/savings account with BDO for an amount of P100,000
Issued BDO Check 001 in payment for three months’ rent on a lease contract, P45,000
Signed contracts with Clients A, B, C to render a per project consulting service.
Hired a part-time receptionist who started to work immediately
Issued CK 002 to pay the premiums on property and casualty insurance policies for a 12-month coverage starting Sept 1, 2020
Issued OR 001 for cash received from Client D as an advance payment for services to be provided on a monthly basis over a pe
September, P30,000
Purchased additional office equipment on account from SM Homes, P18,000
Issued OR 002 for cash received from a client in payment of an account, P8,000
Issued CK 003 to SunStar Daily for a newspaper advertising, P1,200
Issued CK 004 to SM Homes in partial payment of the debt incurred in Sept 5, P8,000
Issued CK 005 in payment of the part-time receptionist two-weeks’ salary, P4,000
Issued OR 003 to client A in payment of consulting services rendered, P31,750
Purchased supplies from National Bookstore issued CK006, P7,500
Issued OR 004 to client B in payment of consulting services rendered, P18,500
Issued OR 005 to client C in payment of services rendered, P16,000
Issued CK 006 to Kaz for personal use, P45,000
Issued CK 007 in payment of the part-time receptionist two-weeks’ salary, P4,000
Issued OR 006 to Client X, P20,500
CREDIT
DATE PARTICULARS CASH IN BDO SUPPLIES PREPAID RENT PREPAID INSURANCE
Sep-20
1 CV 001 (45,000.00) 45,000.00
2 CV 002 (18,000.00) 18,000.00
10 CV 003 (1,200.00)
12 CV 004 (8,000.00)
14 CV 005 (4,000.00)
18 CV 006 (7,500.00) 7,500.00
28 CV 007 (45,000.00)
CV 008 (4,000.00)
(132,700.00)
DEBIT
ACCOUNTS PAYABLE KAZ ZIONRA, DRAWING SALARY EXPENSE ADVERTISING EXPENSE
1,200.00
8,000.00
4,000.00
45,000.00
4,000.00
SING EXPENSE
CIB-BDO Unearned Fees Consulting Fees Revenue
Date Particulars Debit Credit Credit
2020
September 4 OR 001 30,000.00 (30,000.00)
6 OR 002 8,000.00
17 OR 003 31,750.00 (31,750.00)
24 OR 004 18,500.00 (18,500.00)
27 OR 005 16,000.00 (16,000.00)
29 OR 006 20,500.00 (20,500.00)
124,750 (30,000) (86,750)
Accounts Receivable
Credit
(8,000.00)
Date Particulars Debit Credit
Sep-20
1 Cash in Bank 15,000.00
Supplies 12,500.00
Office Equipment 75,000.00
Kaz Zionra, Capital (102,500.00)
Cash in Bank 100,000.00 93,000.00
Kaz Zionra, Capital (100,000.00)
5 Office Equipment 18,000.00
Accounts Payable 18,000.00
30-Sep Supplies Expense 9800
Supplies 9800
Accounts Receivable 43500
Consulting Fees Revenue 43500
Depreciation Expense (office Equipment) 1550
Accumulated Depreciation 1550
Salaries Payable 800
Cash 800
(202,500.00)
CIB-BDO
Date Particulars PR Debit Date Particulars
2021 2021
Sep 30 CRJ 124,750.00 Sep 30 CDJ
GJ 115,000.00
107,050.00 239,750.00
PREPAID INSURANCE
ACCOUNTS RECEIVABLE
Date Particulars PR Debit Date Particulars
2021 2021
Sep 30 GJ Sep 30 CRJ
KAZ ZIONRA, CAPITAL
Date Particulars PR Debit Date Particulars
2021 2021
Sep Sep 30 GJ
ADVERTISING EXPENSE
Date Particulars PR Debit Date Particulars
2021 2021
Sep 30 CDJ 1,200.00 Sep
SUPPLIES
Date Particulars PR Debit Date Particulars
2021 2021
Sep 30 GJ 12,500.00 Sep
CDJ 7,500.00
20,000.00
ACCOUNTS RECEIVABLE
Date Particulars PR Debit Date Particulars
2021 2021
Sep Sep
UNEARNED FEES
PR Credit Date Particulars PR Debit Date
2021 2021
(132,700.00) Sep Sep
PREPAID RENT
PR Credit Date Particulars PR Debit Date
2021 2021
ACCOUNTS PAYABLE
OFFICE EQUIPMENT
PR Credit Date Particulars PR Debit Date
2021 2021
Sep 30 GJ 93,000.00 Sep
ACCOUNTS RECEIVABLE
PR Credit Date Particulars PR Debit Date
2021 2021
Sep Sep
ED FEES CASH IN BANK
Date Particulars PR Credit Date Particulars PR Debit
2021 2021
30 CRJ (30,000.00)
Supplies Expense
Date Particulars PR Debit
D RENT 2021
Date Particulars PR Credit Sept 30 GJ 9800
2021
Supplies
Date Particulars PR Debit
2021
NTS PAYABLE
, DRAWING
Date Particulars PR Credit
2021 Consulting Fees Revenues
Date Particulars PR Debit
2021
EXPENSE
Date Particulars PR Credit
2021
UIPMENT
Date Particulars PR Credit
2021
TS RECEIVABLE
Date Particulars PR Credit
2021
CASH IN BANK DEPRECIATION EXPENSE (OFF
Date Particulars PR Credit Date Particulars PR
2021 2021
Sept 30 GJ 800.00 Sept 30 GJ
Supplies Expense
Date Particulars PR Credit ACCUMULATED DEPRECIATION (O
2021 Date Particulars PR
2021
Accounts Receivable
Date Particulars PR Credit
2021
SALARIES PAYABLE
Debit Date Particulars PR Credit
2021
800
Simple Consulting
(Kaz Zionra, Proprietor)
Trial Balance
As of and for the month ended September 2021
337,250.00 (337,250.00)
Simple Consulting
Income Statement
for the month ended September 30, 2021
REVENUE 86,750.00
EXPENSES
Salary Expense (8,000.00)
Advertising Expense (1,200.00)
(9,200.00)
NET PROFIT 77,550.00
Simple Consulting
Statement of Changes of Owner's Equity
for the month ended September 30, 2021
EQUITY, AT THE START OF THE MONTH 100,000.00
Investments made during the month 102,500.00
Net Profit 77,550.00
280,050.00
Withdrawals during the month (45,000.00)
EQUITY, AT THE END OF THE MONTH 235,050.00
Simple Consulting
Statement of Financial Position
As of September 30, 2021
ASSETS
Cash in Bank - BDO 107,050.00
A/R (8,000.00)
Supplies 20,000.00
Prepaid Rent 45,000.00
Prepaid Insurance 18,000.00
Office Equipment 93,000.00
TOTAL ASSETS 275,050.00
LIABILITIES
Accounts Payable 10,000.00
Unearned Fees 30,000.00
TOTAL LIABILITIES 40,000.00
OWNER'S EQUITY
Kaz Zionra, Capital 202,500.00
Kaz Zionra, Drawing (45,000.00)
Consulting Fees Revenue 86,750.00
Salaries Expense (8,000.00)
Advertising Expense (1,200.00)
TOTAL OWNER'S EQUITY 235,050.00
TOTAL LIABILITIES AND OWNER'S EQUITY 275,050.00
Simple Consulting
Statement of Cash Flow
for the month ended September 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
CASH SALES
Consulting Fees Revenues 86,750.00
COLLECTION OF ACCOUNTS RECEIVABLE 8,000.00
PAYMENT OF EXPENSES
Salaries Expense (8,000.00)
Advertising Expense (1,200.00)
NET CASH USED IN OPERATIONS 85,550.00
Date Particulars
1 Oct
30-Sep Supplies Expense
2 Accounts Receivable
4 Salaries Payable
5 1 Rent Expense
6 Insurance Expense
7 Unearned Fees
8 3 Communication Expense
Date
2021
Date
2021
Oct 1
Date
2021
Date
2021
Oct 1
Date
2021
on October 5 for electricity consumption in the month of September which was paid October 8, P2,000
u Water System on October 6, P500 for its water consumption in the month of September.
October 3 for its postpaid plan, P1,500.
September 30 amounting to P10,200
re not yet billed for the services already rendered by the Simple Consulting, total amount P43,500
estimated useful life of 5 years.
as paid her salaries for two days amounting to P800. A new receptionist was already hired as replacement on Oct 1.
9800
Supplies 9800 Date
43500 2021
Consulting Fees Revenue 43500
1550
1500
Communication Payable 1500
2000
Utilities Payable (Electricity) 2000 Date
500 2021
Cash 500
2000
Cash 2000
Date
2021
Sept 30
Date
2021
RENT EXPENSE
Particulars PR Debit Date Particulars PR
2021
GJ 15000
PREPAID RENT
Particulars PR Debit Date Particulars PR
2021
Oct 1 GJ
INSURANCE EXPENSE
Particulars PR Debit Date Particulars PR
2021
GJ 1500
PREPAID INSURANCE
Particulars PR Debit Date Particulars PR
2021
Oct 1 GJ
UNEARNED FEES
Particulars PR Debit Date Particulars PR
2021
GJ 10000
CASH IN BANK
Particulars PR Debit Date Particulars PR
2021
Sept 30 GJ
Supplies Expense
Particulars PR Debit Date Particulars PR
2021
GJ 9800
Supplies
Particulars PR Debit Date Particulars PR
2021
Sept 30 GJ
Accounts Receivable
Particulars PR Debit Date Particulars PR
2021
GJ 43500
Consulting Fees Revenues
Particulars PR Debit Date Particulars PR
2021
Sept 30 GJ
Credit
Credit
15000
Credit
Credit
1500
Credit
Credit
10000
H IN BANK
Date Particulars PR Credit
2021
6 GJ 500.00
8 GJ 2,000.00
2,500.00
SALARIES PAYABLE
Credit Date Particulars PR Debit Date
2021 2021
9,800.00 Sept 30 GJ 800
COMMUNICATION EXPENSE
Credit Date Particulars PR Debit Date
2021 2021
Sept 30 GJ 1500
COMMUNICATION EXPENSE
Credit Date Particulars PR Debit Date
2021 2021
43500 Oct
SE (OFFICE EQUIPMENT) UTILITIES EXPENSE (VECO)
Date Particulars PR Credit Date Particulars PR Debit
2021 2021
Oct 5 GJ 2000
ATION EXPENSE
Date Particulars PR Credit
2021
ATION EXPENSE
Date Particulars PR Credit
2021
3 GJ 1500
TILITIES EXPENSE (VECO)
Date Particulars PR Credit
2021