JOURNAL ENTRY: Debit Credit

a. Cash 180,000.00
Castaneda Capital 180,000.00
To record initial capital of Castaneda Clinic

b. Office Equipment 72,000.00

Castaneda Capital 72,000.00
To record additional capital ( office Equipment )

c. Office Equipment 3,260.00

Accounts Payable 3,260.00
To record Office Equipment on account

d. Office Equipment 4,620.00

Cash 4,620.00
Topurchase Office Equipment

e. Office Equipment 15,400.00

Cash 7,400.00
Accounts Payable 8,000.00
To purchase printer with DP and on account

f. Utilities Exp 990.00

Cash 990.00
To pay telephone bill

g. no entry

h. Prepaid Rent 15,000.00 Rent Exp

Cash 15,000.00 Cash
To pay 3 months rent

i. no entry

j. Accounts Receivable 16,120.00

Professional Income 16,120.00
To record billed on accounts PF

k. Membership dues 1,800.00

Cash 1,800.00
To record membership fees

l. Utilities Exp 910.00

Cash 910.00
To record payment of electricty expense
m. Cash 6,900.00
Accounts Receivable 6,900.00
To reord collection billed on (j)

n. Accounts Payable 3,260.00

Cash 3,260.00
To record payment of Cabinet on ©

o. Prepaid Insurance 12,000.00 Insurance Expense

Cash 12,000.00 Cash
To record payment of 1 yr Insurance

p. Cash 2,400.00
Professional ncome 2,400.00
To record walk in income

q. Salaries Expense 5,000.00

Cash 5,000.00
Topay salary half month

r. Supplies 23,400.00
Cash 23,400.00
To record purchase of supplies

s. Cash 120,000.00
Unearned Revenue 120,000.00
To record advance collection

ADJUSTING ENTRY

A. Insurance Expense 1,000.00 Prepaid Expense

Prepaid Expense 1,000.00 Insurance Expense
Toadjust insurance ex for 1 month

b. Supplies Expense 13,200.00

Supplies 13,200.00
To adjust supplies as per actual count

c. Rent Expense 5,000.00 Prepaid Rent

Prepaid Rent 5,000.00 Rent Expense
To recognized rent for 1 month

d. Deprn Exp 1,588.00

Acc. Depr 1,588.00
To depreciate equipment for 1 month
e. Unearned Income 20,000.00
Revenue 20,000.00
To recognized income for the month from ABC company

f. Salary Expense 5,000.00

Salary payable 5,000.00
To recognized salary for half month
 CASH
a. 180,000.00 4,620.00 d
m 6,900.00 7,400.00 e
p 2,400.00 990.00 f
s 120,000.00 15,000.00 h
1,800.00 k
910.00 l
3,260.00 n
12,000.00 o
5,000.00 q
23,400.00 r
salvage 50000
309,300.00 74,380.00
BALANCE 234,920.00
95,280.00
OFFICE EQUIPMENT
b 72,000.00 95,280.00
c 3,260.00 19,056.00 19,056.00
d 4,620.00 1,588.00 1,588.00
e 15,400.00

BALANCE 95,280.00

ACCOUNTS PAYABLE
n 3,260.00 8,000.00 E
3,260.00 c

15000 3,260.00 11,260.00

15,000.00 BALANCE 8,000.00

CASTANEDA CAPITAL
180,000.00 a
72,000.00 b

BALANCE 252,000.00

UTILITIES EXPENSE
l 990.00
f 910.00
 balance 1,900.00

12000
12,000.00

11,000.00
11,000.00

10000
10,000.00
CASTANEDA CLINIC
TRIAL BALANCE
AS OF

UNADJUSTED TRIAL BALANCEADJUSTING ENTRY ADJUSTED TB

DEBIT CREDIT DEBIT CREDIT DEBIT
CASH 234,920.00 234,920.00
ACCOUNTS RECEIVABLE 9,220.00 9,220.00
SUPPLIES 23,400.00 13,200.00 10,200.00
PREPAID RENT 10,000.00 10,000.00
PREPAID INS 12,000.00 1,000.00 11,000.00
OFFICE EQUIPMENT 95,280.00 95,280.00
ACC. DEPRECIATION OE 1,588.00
ACCOUNTS PAYABLE 8,000.00
SALARY PAYABLE 5,000.00
UNEARNED INCOME 120,000.00 20,000.00
OWNER'S EQUITY 252,000.00
REVENUE 18,520.00 20,000.00
SALARIES AND WAGES 5,000.00 5,000.00 10,000.00
SUPPLIES EXP 13,200.00 13,200.00
RENT EXPENSE 15,000.00 10,000.00 5,000.00
UTILITIES EXP 1,900.00 1,900.00
INSURANCE 1,000.00 1,000.00
MISC EXP 1,800.00 1,800.00
DEPRECIATION EXP 1,588.00 1,588.00

398,520.00 398,520.00 50,788.00 50,788.00 405,108.00

 STATEMENT OF FINANCIAL
ADJUSTED TB INCOME STATEMENT POSITION
CREDIT DEBIT CREDIT DEBIT CREDIT
234,920.00
9,220.00
10,200.00
10,000.00
11,000.00
95,280.00
1,588.00 1,588.00
8,000.00 8,000.00
5,000.00 5,000.00
100,000.00 100,000.00
252,000.00 252,000.00
38,520.00 38,520.00
10,000.00
13,200.00
5,000.00
1,900.00
1,000.00
1,800.00
1,588.00

405,108.00 34,488.00 38,520.00 370,620.00 366,588.00

NET INCOME 4,032.00 4,032.00

 MA CASTANEDA CLINIC
Cabanatuan City

STATEMENT OF PERFORMANCE
As of ______

REVENUE 38,520.00

Less: Expenses
SALARIES AND WAGES 10,000.00
SUPPLIES EXP 13,200.00
RENT EXPENSE 5,000.00
UTILITIES EXP 1,900.00
INSURANCE 1,000.00
MISC EXP 1,800.00
DEPRECIATION EXP 1,588.00
TOTAL EXPENSES 34,488.00

NET INCOME 4,032.00

PROVISION FOR INCOME TAX 1,209.60

NET INCOME AFTER TAX 2,822.40

 MA CASTANEDA CLINIC
Cabanatuan City

STATEMENT OF FINANCIAL CONDITION

As of ______

ASSETS
Current Asset
CASH 234,920.00
ACCOUNTS RECEIVABLE 9,220.00
SUPPLIES 10,200.00
PREPAID RENT 10,000.00
PREPAID INS 11,000.00
Total Current 275,340.00

Non Current Asset

Office Equipment 95,280.00
Less: Acc. Depr - 1,588.00
Total Non Current Asset 93,692.00
TOTAL ASSETS 369,032.00

LIABILITIES
ACCOUNTS PAYABLE 8,000.00
SALARY PAYABLE 5,000.00
UNEARNED INCOME 100,000.00
TOTAL LIABLITIES 113,000.00

OWNER'S EQUITY
Castaneda, Capital 252,000.00
Add: NI 4,032.00
Less: Withdrawal
TOTAL OWNER'S EQUITY 256,032.00

TOTAL LIABILTIES AND OWNER'S EQUIT 369,032.00