Fundamentals of Accounting,

Business and Management 2

Activity 1 & 2
Angel Health Center
Maran Catering

TOLENTINO, Mary DJazel A.

ABM 12 -2
Angel Health Center

Activity 1
 Adjusting Entries Page 1

Date Description P/R Debit Credit

2019
Dec 31 Supplies Expense ₱ 7 5 0 0 00
Supplies ₱ 7 5 0 0 00

31 Depreciation Expense 1 9 5 0 0 00
Accumulated Depreciation-Equipment 1 8 0 0 0 00
Accumulated Depreciation-Furniture & Fixtures 1 5 0 0 00

31 Salaries and Wages Expense 1 5 0 0 00

Salaries and Wages Payable 1 5 0 0 00

31 Interest Expense 3 0 0 0 00
Interest Payable 3 0 0 0 00

31 Rent Expense 3 0 0 0 0 00
Prepaid Rent 3 0 0 0 0 00

31 Bad Debt Expense 1 3 7 5 0 00

Allowance for Doubtful Accounts 1 3 7 5 0 00
Totals ₱ 7 5 2 5 0 00 ₱ 7 5 2 5 0 00
 Angel Health Center
Worksheet
December 31, 2019
Trial Balance Adjustmments Adjusted Trial Balance Comprehensive Income Financial Position
Account No. Account Title P/R
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
101 Cash ₱ 2 2 6 0 0 0 00 ₱ 2 2 6 0 0 0 00 ₱ 2 2 6 0 0 0 00
102 Accounts Receivable 5 5 0 0 0 00 5 5 0 0 0 00 5 5 0 0 0 00
103 Supplies 1 0 0 0 0 00 a) 7 5 0 0 00 2 5 0 0 00 2 5 0 0 00
104 Prepaid Rent 7 2 0 0 0 00 e) 3 0 0 0 0 00 4 2 0 0 0 00 4 2 0 0 0 00
105 Equipment 4 0 0 0 0 0 00 4 0 0 0 0 0 00 4 0 0 0 0 0 00
106 Furniture and Fixtures 1 5 0 0 0 00 1 5 0 0 0 00 1 5 0 0 0 00
201 Accounts Payable ₱ 1 5 5 0 0 0 00 ₱ 1 5 5 0 0 0 00 ₱ 1 5 5 0 0 0 00
202 Bank Payable 1 0 0 0 0 0 00 1 0 0 0 0 0 00 1 0 0 0 0 0 00
203 Utilities Payable 7 5 0 0 0 00 7 5 0 0 0 00 7 5 0 0 0 00
301 Angel, capital 3 0 0 0 0 0 00 3 0 0 0 0 0 00 3 0 0 0 0 0 00
302 Angel, drawing 1 0 0 0 0 00 1 0 0 0 0 00 1 0 0 0 0 00
401 Service Income 2 7 5 0 0 0 00 2 7 5 0 0 0 00 ₱ 2 7 5 0 0 0 00
501 Salaries and Wages Expense 3 0 0 0 0 00 c) 1 5 0 0 00 3 1 5 0 0 00 ₱ 3 1 5 0 0 00
502 Utilities Expense 7 5 0 0 00 7 5 0 0 00 7 5 0 0 00
503 Taxes and Licenses 1 2 0 0 0 00 1 2 0 0 0 00 1 2 0 0 0 00
Totals ₱ 8 3 7 5 0 0 00 ₱ 8 3 7 5 0 0 00
Adjustments:
504 Supplies Expense a) 7 5 0 0 00 7 5 0 0 00 7 5 0 0 00
505 Depreciation Expense b) 1 9 5 0 0 00 1 9 5 0 0 00 1 9 5 0 0 00
105-a Accumulated Depreciation-Equipment b) 1 8 0 0 0 00 1 8 0 0 0 00 1 8 0 0 0 00
106-a Accumulated Depreciation-Furniture and Fixtures b) 1 5 0 0 00 1 5 0 0 00 1 5 0 0 00
204 Salaries and Wages Payable c) 1 5 0 0 00 1 5 0 0 00 1 5 0 0 00
506 Interest Expense d) 3 0 0 0 00 3 0 0 0 00 3 0 0 0 00
205 Interest Payable d) 3 0 0 0 00 3 0 0 0 00 3 0 0 0 00
507 Rent Expense e) 3 0 0 0 0 00 3 0 0 0 0 00 3 0 0 0 0 00
508 Bad Debt Expense f) 1 3 7 5 0 00 1 3 7 5 0 00 1 3 7 5 0 00
102-a Allowance for Doubtful Accounts f) 1 3 7 5 0 00 1 3 7 5 0 00 1 3 7 5 0 00
Totals ₱ 7 5 2 5 0 00 ₱ 7 5 2 5 0 00 ₱ 8 7 5 2 5 0 00 ₱ 8 7 5 2 5 0 00 ₱ 1 2 4 7 5 0 00 ₱ 2 7 5 0 0 0 00 ₱ 7 5 0 5 0 0 00 ₱ 6 0 0 2 5 0 00
Net Income 1 5 0 2 5 0 00 1 5 0 2 5 0 00
Totals ₱ 2 7 5 0 0 0 00 ₱ 2 7 5 0 0 0 00 ₱ 7 5 0 5 0 0 00 ₱ 7 5 0 5 0 0 00
Maran Catering

Activity 2
 General Journal Page 1

Date Description P/R Debit Credit

2018
Dec 01 Cash ₱ 1 5 0 0 0 00
Accounts Receivable ₱ 1 5 0 0 0 00

02 Supplies Expense 6 0 0 0 0 00
Cash 6 0 0 0 0 00

04 Cash 3 0 0 0 0 00
Service Revenue 3 0 0 0 0 00

05 Accounts Receivable 3 5 0 0 0 00
Service Revenue 3 5 0 0 0 00

06 Accounts Payable 2 0 0 0 0 00
Cash 2 0 0 0 0 00

08 Salaries Expense 1 5 0 0 0 00
Cash 1 5 0 0 0 00

10 Utilities Expense 5 0 0 0 00
Cash 5 0 0 0 00

12 Cash 2 5 0 0 0 00
Accounts Receivable 2 5 0 0 0 00

15 Cash 5 0 0 0 0 00
Notes Payable 5 0 0 0 0 00

17 Cash 7 0 0 0 0 00
Service Revenue 7 0 0 0 0 00

20 Accounts Receivable 5 0 0 0 0 00
Service Revenue 5 0 0 0 0 00

21 Salaries Expense 3 0 0 0 0 00
Cash 3 0 0 0 0 00

24 Accounts Payable 3 0 0 0 0 00
Cash 3 0 0 0 0 00
Totals ₱ 4 3 5 0 0 0 00 ₱ 4 3 5 0 0 0 00
 Cash 101 Accounts Receivable 102 Equipment 103 Accumulated Depreciation-Equipment 103-a
100000 60000 50000 15000 230000 3833.33
15000 20000 35000 25000
30000 15000 50000 40000
25000 5000 135000
50000 30000 95000
70000 30000
290000 160000 55000
130000 150000
5000
55000 35000
185000 40000
145000

Accounts Payable 201 Notes Payable 202

20000 50000 50000
30000
50000

Maran, capital 301 Maran, drawing 302 Service Revenue 401

240000 20000 160000
30000
35000
70000
50000
345000

55000
55000
445000

Supplies Expense 501 Salaries Expense 502 Utilities Expense 503 Interest Expense 504
50000 15000 5000 5000
60000 30000
110000 45000

Advertising Expense 505 Depreciation Expense 506

35000 3833.33
 Maran Catering
Trial Balance
December 31, 2018
Account
Account Title P/R Debit Credit
No.
101 Cash ₱ 1 3 0 0 0 0 00
102 Accounts Receivable 9 5 0 0 0 00
103 Equipment 2 3 0 0 0 0 00
201 Accounts Payable ₱ -- --
202 Notes Payable 5 0 0 0 0 00
303 Maran, capital 2 4 0 0 0 0 00
304 Maran, drawing 2 0 0 0 0 00
401 Service Revenue 3 4 5 0 0 0 00
501 Supplies Expense 1100 0 0 00
502 Salaries Expense 450 0 0 00
503 Utilities Expense 50 0 0 00
Totals ₱ 6350 0 0 00 ₱ 6 3 5 0 0 0 00
 Adjusting Entries Page 1

Date Description P/R Debit Credit

2018
Dec 31 Cash ₱ 5 5 0 0 0 00
Service Revenue ₱ 5 5 0 0 0 00

31 Interest Expense 5 0 0 0 00
Cash 5 0 0 0 00

31 Accounts Receivable 5 5 0 0 0 00
Service Revenue 5 5 0 0 0 00

31 Advertising Expense 3 5 0 0 0 00
Cash 3 5 0 0 0 00

31 Depreciation Expense 3 8 3 3 33
Accumulated Depreciation-Equipment 3 8 3 3 33
Totals ₱ 1 5 3 8 3 3 33 ₱ 1 5 3 8 3 3 33
 Maran Catering
Worksheet
December 31, 2018
P/ Trial Balance Adjustments Adjusted Trial Balance Comprehensive Income Financial Position
Account No. Account Title
R Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
101 Cash ₱ 1 3 0 0 0 0 00 a) 5 5 0 0 0 00 b)d) 4 0 0 0 0 00 ₱ 1 4 5 0 0 0 00 ₱ 1 4 5 0 0 0 00
102 Accounts Receivable 9 5 0 0 0 00 c) 5 5 0 0 0 00 1 5 0 0 0 0 00 1 5 0 0 0 0 00
103 Equipment 2 3 0 0 0 0 00 2 3 0 0 0 0 00 2 3 0 0 0 0 00
201 Accounts Payable ₱ -- -- ₱ -- -- ₱ -- --
202 Notes Payable 5 0 0 0 0 00 5 0 0 0 0 00 5 0 0 0 0 00
303 Maran, capital 2 4 0 0 0 0 00 2 4 0 0 0 0 00 2 4 0 0 0 0 00
304 Maran, drawing 2 0 0 0 0 00 2 0 0 0 0 00 2 0 0 0 0 00
401 Service Revenue 3 4 5 0 0 0 00 a)c) 1 1 0 0 0 0 00 4 5 5 0 0 0 00 ₱ 4 5 5 0 0 0 00
501 Supplies Expense 1 1 0 0 0 0 00 1 1 0 0 0 0 00 ₱ 1 1 0 0 0 0 00
502 Salaries Expense 4 5 0 0 0 00 4 5 0 0 0 00 4 5 0 0 0 00
503 Utilities Expense 5 0 0 0 00 5 0 0 0 00 5 0 0 0 00
Totals ₱ 6 3 5 0 0 0 00 ₱ 6 3 5 0 0 0 00
Adjusments:
504 Interest Expense b) 5 0 0 0 00 5 0 0 0 00 5 0 0 0 00
505 Advertising Expense d) 3 5 0 0 0 00 3 5 0 0 0 00 3 5 0 0 0 00
506 Depreciation Expense e) 3 8 3 3 33 3 8 3 3 33 3 8 3 3 33
103-a Accumulated Depreciation-Equipment e) 3 8 3 3 33 3 8 3 3 33 3 8 3 3 33
Totals ₱ 1 5 3 8 3 3 33 ₱ 1 5 3 8 3 3 33 ₱ 7 4 8 8 3 3 33 ₱ 7 4 8 8 3 3 33 ₱ 2 0 3 8 3 3 33 ₱ 4 5 5 0 0 0 00 ₱ 5 4 5 0 0 0 00 ₱ 2 9 3 8 3 3 33
Net Income 2 5 1 1 6 6 67 2 5 1 1 6 6 67
Totals ₱ 4 5 5 0 0 0 00 ₱ 4 5 5 0 0 0 00 ₱ 5 4 5 0 0 0 00 ₱ 5 4 5 0 0 0 00
 Maran Catering
Adjusted Trial Balance
December 31, 2018
Account No. Account Title P/R Debit Credit
101 Cash ₱ 1 4 5 0 0 0 00
102 Accounts Receivable 1 5 0 0 0 0 00
103 Equipment 2 3 0 0 0 0 00
103-a Accumulated Depreciation-Equipment ₱ 3 8 3 3 33
201 Accounts Payable -- --
202 Notes Payable 5 0 0 0 0 00
303 Maran, capital 2 4 0 0 0 0 00
304 Maran, drawing 2 0 0 0 0 00
401 Service Revenue 4 5 5 0 0 0 00
501 Supplies Expense 1100 0 0 00
502 Salaries Expense 450 0 0 00
503 Utilities Expense 50 0 0 00
504 Interest Expense 50 0 0 00
505 Advertising Expense 350 0 0 00
506 Depreciation Expense 38 3 3 33
Totals ₱ 7488 3 3 33 ₱ 7 4 8 8 3 3 33
 Maran Catering
Statement of Comprehensive Income
For the month ended December 31, 2018

Service Revenue ₱ 4 5 5 0 0 0 00
Less: Operating Expenses:
Supplies Expense ₱ 11000 0 00
Salaries Expense 4500 0 00
Advertising Expense 3500 0 00
Utilities Expense 500 0 00
Interest Expense 500 0 00
Depreciation Expense 383 3 33 ( 2 0 3 8 3 3 33)
Net Income ₱ 2 5 1 1 6 6 67

Maran Catering
Statement of Change in Equity
For the month ended December 31, 2018
Maran, beginning capital ₱ 2400 0 0 00
Add: Net Income 2511 6 6 67
4911 6 6 67
Less: Maran, drawing ( 200 0 0 00)
Maran, ending capital ₱ 4711 6 6 67

Maran Catering
Statement of Financial Position
December 31, 2018
Assets
Current Assets:
Cash ₱ 1 4 5 0 0 0 00
Accounts Receivable 1 5 0 0 0 0 00
Total current assets ₱ 2 9 5 0 0 0 00
Non-current Assets:
Equipment ₱ 2 3 0 0 0 0 00
Less: Accumulated Depreciation-Equipment 3 8 3 3 33
Total non-current assets 2 2 6 1 6 6 67
₱ 5 2 1 1 6 6 67

Liabilities
Current Liabilities:
Accounts Payable ₱ -- --
Non-surrent Liabilities
Notes Payable 5 0 0 0 0 00
Total Current and Non-current Liabilities ₱ 5 0 0 0 0 00

Capital
Maran, capital 4 7 1 1 6 6 67
Total Liabilities and Capital ₱ 5 2 1 1 6 6 67