Name: Joan M.

Regencia Course/Year & Section: BS Entrep 1-1

RMN Catering
General Journal
For the month of October 31, 2020

Date Account Ttile Debit Credit

2020
Oct. 1 Cash 200,000
RMN, capital 200,000
to record investment

3 Office Supplies 3,000

Accounts Payable 3,000
to record purchase of Office Supplies

8 Prepaid Rent 24,000

Cash 24,000
to record advance payment of rent

10 Furniture (Tables/Chairs) 50,000

Equipment (dishwasher) 30,000
Equipment (Cash register) 10,000
Accounts Payable 90,000
Purchase of furniture and equipment on credit

Inventory 50,000
Cash 20,000
Accounts Payable 30,000
Purchase of merchandise in cash on credit

13 Cash 60,000
Accounts Receivable 30,000
Service Income 90,000
Receipt of service income in cash & on credit

15 Electricity expense 8,000

Cash 8,000
to record payment of electricity

Salaries expense 15,000

Cash 15,000
to record payment of salaries
23 Cash 20,000
Service Income 20,000
to record collections from customers

25 RMN, Withdrawal 5,000

Cash 4,000
Supplies 1,000
to record withdrawal of cash/supplies

27 Accounts Payable 10,000

Cash 10,000
to record payment of account to supplier

30 Water expense 4,000

Cash 4,000
to record payment of water expense

TOTAL 519,000 519,000

 RMN Catering Services
Income Statement
For the month ended October 31, 2020

Service Income 11,000

Less: Expenses
Salaries Expenses 15,000
Electricity Expenses 8,000
Water Expenses 4,000
Rent Expense 2,000
Office Supplies Expense 1,000
Inventory/Supplies Expenses 44,000
Dep'n Expense-Furnitures 2,083
Depreciation Expense- Equipment 1,667
Net Income 32,250.00
 RMN Catering Services
TRIAL BALANCE
For the year-ended December 31, 2020

Account Title Unadjusted Trial Balance

Debit Credit
Cash 195,000
Account Receivable 30,000
Office Supplies 3,000
Prepaid Rent 24,000
Inventory 49,000
Furniture 50,000
Equipment (dishwasher & cash reg.) 40,000
Accounts Payable 113,000
RMN, capital 200,000
RMN, drawing 5,000
Service Income 110,000
Salaries Expenses 15,000
Electricity Expenses 8,000
Water Expenses 4,000
TOTAL 423,000 423,000
 RMN Catering Services
WORKSHEET
For the year-ended December 31, 2020

Account Title Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Income Statement
Debit Credit Debit Credit Debit Credit Debit Credit Credit Credit
Cash 195,000 195,000 195,000
Accounts Receivable 30,000 30,000 30,000
Office Supplies 3,000 1,000.00 2,000 2,000
Prepaid Rent 24,000 2,000.00 22,000 22,000
Inventory 49,000 44,000.00 5,000 5,000
Furniture 50,000 50,000 50,000
Equipment (dishwasher & cash reg.) 40,000 40,000 40,000
Accounts Payable 113,000 113,000 113,000
RMN, capital 200,000 200,000 200,000
RMN, drawing 5,000 5,000 5,000
Service Income 110,000 110,000 110,000
Salaries Expenses 15,000 15,000 15,000
Electricity Expenses 8,000 8,000 8,000
Water Expenses 4,000 4,000 4,000
TOTAL 423,000 423,000

Adjustments:
a. Rent Expense 2,000.00 2,000.00 2,000.00
b. Office Supplies Expense 1,000.00 1,000.00 1,000.00
c. Inventory/Supplies Expenses 44,000.00 44,000.00 44,000.00
d. Depreciation Expense - Furniture 2,083.00 2,083.00 2,083.00
Accum. Dep'n - Furniture 2,083.00 2,083.00 2,083.00
e. Depreciation Expense - Equipment 1,667.00 1,667.00 1,667.00
Accum. Dep'n - Equipment 1,667.00 1,667.00 1,667.00
Gross Profit 32,250.00 32,250.00
77,750 110,000 349,000 316,750
50,750 50,750 426,750 426,750 110,000 110,000 349,000 349,000
 RMN Catwering Services
ADJUSTED TRIAL BALANCE
For the year-ended December 31, 2020

Account Title ADJUSTED

Debit Credit
Cash 195,000
Accounts Receivable 30,000
Office Supplies 3,000
Prepaid Rent 24,000
Inventory 49,000
Furniture 50,000
Equipment (dishwasher & cash reg.) 40,000
Accum. Depreciation - Equipment
Accounts Payable 113,000
RMN, capital 200,000
RMN, drawing 5,000
Service Income 110,000
Salaries Expenses 15,000
Electricity Expenses 8,000
Water Expenses 4,000
TOTAL 423,000.00 423,000.00
RMN Catering
GENERAL LEDGER
Account Name CASH
Year Transaction
Month/Day Details Debit Credit Balance
01-Oct original investment lease agreement
purchase of inventory 200,000 200,000
8 advance payment of rent 24,000 176,000
10 purchase of merchandise 20,000 156,000
13 received as service income 60,000 216,000
15 payment of electricity 8,000 208,000
payment of salaries 15,000 193,000
23 cash recieved as service income 20,000 213,000
25 withdrawal 4,000 209,000
payment of account to WS Merchandise 10,000 199,000
27 payment to supplier 4,000 195,000
30 payment to water expense 280,000 85,000 195,000

Account Name ACCOUNTS RECEIVABLE

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 13 receivables from customer 30,000 30,000

Account Name PREPAID RENT

Year Transaction
Month/Day Details Debit Credit Balance
8 lease agreement 24,000 24,000

Account Name OFFICE SUPPLIES

Year Transaction
Debit Credit Balance
 Month/Day Details Debit Credit Balance
3 purchase on account 3,000 3,000

Account Name SUPPLIES/INVENTORY

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 10 purchase of supplies/inventory 50,000 50,000
25 withdrawal 1,000 49,000
44,000 5,000

Account Name FURNITURE (tables/chairs)

Year Transaction
Month/Day Details Debit Credit Balance
10 purchase on account 50,000 50,000

Account Name EQUIPMENT (dishwasher & cash register)

Year Transaction
Month/Day Details Debit Credit Balance
10 purchase on account 40,000 40,000

Account Name ACCOUNTS PAYABLE

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 3 purchase of office supplies on account 3,000
10 purchase of furniture & equipment 90,000
purchase of inventory 30,000
27 payment 10,000 123,000 113,000

Account Name RMN, CAPITAL

 Year Transaction
Month/Day Details Debit Credit Balance
Oct. 1 original investment 200,000 200,000

Account Name RMN, DRAWING

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 25 supplies & cash withdrawal 5,000 5,000

Account Name SERVICE INCOME

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 13 cash and AR 90,000
23 collections 20,000 110,000

Account Name SALARIES EXPENSES

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 15 payment of salaries 15,000 15,000

Account Name ELECTRICITY EXPENSES

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 15 payment of electricity expenses 8,000 8,000

Account Name WATER EXPENSES

Year Transaction
Month/Day Details Debit Credit Balance
Oct. 30 payment of water expenses 4,000 4,000
 RMN Catering Services
Balance Sheet
For the year-ended December 31, 2020

Assets
Current Assets:
Cash 195000.00
Accounts Receivable 30000.00
Office Supplies 2000.00
Prepaid Rent 22000.00
Inventory 5000.00
Total Current Assets 254000.00

Non-Current Assets
Furniture 50000.00
Accumulated Depreciation - Furniture -2083.00 47,917
Equipemnt 40,000
Accumulated Depreciation - Equipment -1,667 38,333
Total Non-Current Assets 86,250.00

Total Assets 340250.00

Liabilities
Accounts Payable 113000.00
Total Liabilities 113000.00

Owner's Equity
RMN, capital* 200,000
Add: Income 32,250.00
Less: drawing 5,000 345,250
Total Liabilities and Owner's Equity 340,250
Adjusting Journal Entries
a Rent Expense 2,000
Prepaid Expense 2,000

b Supplies Expense 1,000

Supplies 1,000

c Inventory/Supplies Expense 45,000

Inventory/Supplies 45,000

d Depreciation Expense - Furniture 2,083

Accum. Dep'n - Furniture 2,083

e Depreciation Expense - Equipment 1,667

Accum. Dep'n - Equipment 1,667