TRIAL BALANCE ADJUSTMENTS

ACCOUNT TITLE Dr. Cr. Dr. Cr.

Cash ₱ 50,000
Prepaid Insurance ₱ 25,000 7,000
Moving Supplies ₱ 12,000 9,000
Moving Truck ₱ 110,000
Accumulated Depreciation,
Moving Truck ₱ 90,000 5,000
Accounts Payable ₱ 27,680
Karen, Capital ₱ 54,420
Karen, Withdrawal
Revenue from Moving ₱ 90,000
Wage Expense ₱ 37,120 2,500
Rent Expense ₱ 10,800
Advertising Expense ₱ 3,180
₱ 248,100.00 ₱ 262,100.00

Insurance Expense 7,000

Moving Supplies Expense 9,000
Depreciation Expense 5,000
Wages Payable 2,500

23,500 23,500
 Karen's Moving Co.
WORKSHEET
FOR MONTH ENDED October 31, 2020

ADJUSTED TRIAL BALANCE INCOME STATEMENT

Dr. Cr. Dr. Cr.
₱ 50,000
18000
3000
110,000

₱ 95,000
27,680
54,420
14,000
90,000 ₱ 90,000
39,620 ₱ 39,620
10,800 10,800
3,180 3,180

7,000 7,000
9,000 9,000
5,000 5,000
2,500

₱ 269,600 ₱ 269,600 74,600 90,000

15400
₱ 90,000.00 ₱ 90,000.00
 BALANCE SHEET
Dr. Cr.
₱ 50,000
18,000
3,000
110,000

₱ 95,000
27,680
54,420
₱ 14,000

2,500

₱ 195,000 ₱ 179,600
₱ 15,400
₱ 195,000.00 ₱ 195,000.00
 Karen's Moving Co.
INCOME STATEMENT
For the Month Ended October 31, 2020

Dr.
Revenue
Revenue from moving
Operating Expenses
Wage Expense ₱ 39,620
Rent Expense 10,800
Advertising Expense 3,180
Insurance Expense 7,000
Moving Supplies Expense 9,000
Depreciation Expense 5,000
TOTAL OPERATING EXPENSE
NET INCOME
 Karen's Moving Co.
INCOME STATEMENT
Month Ended October 31, 2020

Cr.

₱ 90,000

₱ 74,600
₱ 15,400
 Karen's Moving Co.
STATEMENT OF OWNER'S EQUITY
For the Month Ended October 31, 2020

Dr. Cr.
Karen's Capital,beg. 54,420
Net Income 10/31/20 15,400
Less: Withdrawals 14,000
Increase in Capital 1,400
Karen's Capital, end. 55,820
Moving Co.
OWNER'S EQUITY
ed October 31, 2020
 Karen's Moving Co.
BALANCE SHEET
As of October 31, 2020

Dr.
ASSETS
Cash ₱ 50,000
Prepaid Insurance 18,000
Moving Supplies 3,000
Moving Truck 110,000
Less: Accumulated Depreciation, Truck

TOTAL ASSETS

LIABILITIES AND OWNERS EQUITY

LIABILITIES
Accounts Payable 27,680
Wage Payable 2,500
Total Liabilities

OWNERS EQUITY
Karen's Capital 55,820
Total Owner's Equity

Total Liabilities and Owners Equity

 Karen's Moving Co.
BALANCE SHEET
As of October 31, 2020

Cr.

₱ 95,000

₱ 86,000

30,180

55,820

86,000