GJ-1

Date Account Title and Explanation PR Debit Credit

Jan 07 Cash 101 ₱ 180,000  
  Chui, Capital 301   ₱ 180,000
  To record investment of capital    
       
08 Office Equipment 151 20,000  
  Accounts Payable 201   20,000
  To record purchase of equipments on account    
       
10 Supplies 121 20,500  
  Cash 101   20,500
  To record purchase of supplies    
       
13 Prepaid Insurance 131 10,000  
  Cash 101   10,000
  To record advance payment of insurance    
       
15 Accounts Receivable 111 40,000  
  Service Revenue 401   40,000
  To record services on account    
       
16 Cash 101 30,000  
  Accounts Receivable 111   30,000
  To record collection of services on account    
       
Account 21 Accounts Payable 201 15,000  
Name:   Cash 101   15,000
CASH   To record partial payment of equipment    
Acc   B        
oun a
22 Accounts Receivable 111 17,000  
t l
Nu a   Service Revenue 401   17,000
mb n   To record services rendered on account    
er: c        
101 e 23 Cash 101 12,000  
DPa DC DC   Loan Payable 211   12,000
rti   Borrowed from the bank    
cul        
ar 31 Salaries Expense 501 14,000  
s
  Cash 101   14,000
J Inv ₱   ₱  
  To record payment of salaries to employees    
est
m GJ-2 
en 31 Chui, Drawing 311 8,000  
t   Cash 101   8,000
of   To record withdrawals by the owner    
Ca        
pit   Utilities Expense 512 1,500  
al   Cash 101   1,500
1Pu   ₱₱ 
  To record payment of telephone bill    
rc
       
ha
  Supplies Expense 511 11,000  
  Supplies 121   11,000
  To record supplies expense    
 se of supplies
13 Payment for insurance GJ-1   10,000 ₱ 149,500  
16 Collections for service rendered GJ-1 30,000   ₱ 179,500  
21 Partial payment for equipment GJ-1   15,000 ₱ 164,500  
23 Loans from a bank GJ-1 12,000   ₱ 176,500  
31 Payment of employee's salaries GJ-1   14,000 ₱ 162,500  
31 Withdrawal by the owner GJ-2   8,000 ₱ 154,500  
31 Payment of telephone bill GJ-2   1,500 ₱ 153,000  

Account Name: ACCOUNTS RECEIVABLE

Account Number: 111     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 15 Rendered services on account GJ-1 ₱ 40,000   ₱ 40,000  
16 Collection of receivables GJ-1   ₱ 30,000 ₱ 10,000  
22 Rendered services on account GJ-1 17,000   ₱ 27,000  

Account Name: SUPPLIES

Account Number: 121     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 10 Purchase of supplies GJ-1 ₱ 20,500   ₱ 20,500  
31 Supplies expense GJ-2   ₱ 11,000 ₱ 9,500  

Account Name: PREPAID INSURANCE

Account Number: 131     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 13 Purchase of insurance GJ-1 ₱ 10,000   ₱ 10,000  
31 Adjustment GJ-3   ₱ 1,000 ₱ 9,000  

Account Name: OFFICE EQUIPMENT

Account Number: 151     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 08 Purchase of equipment GJ-1 ₱ 20,000   ₱ 20,000  

Account Name: ACCUMULATED DEPRECATION - OFFICE EQUIPMENT

Account Number: 152     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Depreciation of equipment GJ-3   ₱ 500   ₱ 500

Account Name: ACCOUNTS PAYABLE

Account Number: 201     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 08 Purchase of equipment on acc. GJ-1   ₱ 20,000   ₱ 20,000
 21 Partial payment to supplier GJ-1 ₱ 15,000     ₱ 5,000

Account Name: LOANS PAYABLE

Account Number: 211     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 23 Loans from the bank GJ-1   ₱ 12,000   ₱ 12,000

Account Name: CHUI, CAPITAL

Account Number: 301     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 07 Investment GJ-1   ₱ 180,000   ₱ 180,000

Account Name: CHUI, DRAWING

Account Number: 311     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Withdrawal GJ-2 ₱ 8,000   ₱ 8,000  

Account Name: SERVICE REVENUE

Account Number: 401     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 15 Service rendered on account GJ-1   ₱ 40,000   ₱ 40,000
22 Service rendered on account GJ-1   17,000   ₱ 57,000

Account Name: SALARIES EXPENSE

Account Number: 501     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Payment of salaries GJ-1 ₱ 14,000   ₱ 14,000  
Account Name: SUPPLIES EXPENSE
Account Number: 511     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Payment of supplies GJ-1 ₱ 11,000   ₱ 11,000  

Account Name: UTILITIES EXPENSE

Account Number: 512     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Payment of telephone bill GJ-2 ₱ 1,500   ₱ 1,500  

Account Name: INSURANCE EXPENSE

Account Number: 513     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Expired insurance GJ-3 ₱ 1,000   ₱ 1,000  

Account Name: DEPRECIATION EXPENSE

Account Number: 514     Balance
Date Particulars Pos Debit Credit Debit Credit
t
Jan 31 Depreciation of asset GJ-3 ₱ 500   ₱ 500  

Chui Taxes and Accounting Services

Unadjusted Trial Balance
As of January 31,2020
Account Title Debit Credit
Cash ₱ 153,000  
Accounts Receivable 27,000  
Supplies 9,500  
Prepaid Insurance 10,000  
Office Equipment 20,000  
Accounts Payable   ₱ 5,000
Loans Payable   12,000
Chui, Capital   180,000
Chui, Drawings 8,000  
Service Revenue   57,000
Salaries Expense 14,000  
Supplies Expense 11,000  
Utilities Expense 1,500  
Total ₱ 254,000 ₱ 254,000
GJ - 3
Date Account Title and Explanation PR Debit Credit
Jan 31 Depreciation Expense 514 ₱ 500  
  Accumulated Depreciation - Office Equipment 152   ₱ 500
  To recognize the depreciated amount of office      
equipment
         
31 Insurance Expense 513 1,000  
  Prepaid Expense 131   1,000
  To record expired portion of prepaid      
insurance

Chui Taxes and Accounting Services

Adjusted Trial Balance
As of January 31, 2020
Account Title Debit Credit
Cash ₱ 153,000  
Accounts Receivable 27,000  
Supplies 9,500  
Prepaid Insurance 9,000  
Office Equipment 20,000  
Accumulated Depreciation - Office Equipment    
Equipment   ₱ 500
Accounts Payable   5,000
Loans Payable   12,000
Chui, Capital   180,000
Chui, Drawings 8,000  
Service Revenue   57,000
Salaries Expense 14,000  
Supplies Expense 11,000  
Utilities Expense 1,500  
Insurance Expense 1,000  
Depreciation Expense 500  
Total ₱ 254,500 ₱ 254,500