JBLAB COMPANY

Unadjusted Trial Balance

December 30, 20X1

ACCOUNT TITLE DEBIT

Petty Cash Fund ₱ 6,500.00
Cash in Bank 1,143,400.00
Accounts Receivable 220,000.00
Unused Supplies 170,000.00
Prepaid Insurance 3,000.00
Rental Deposit 225,000.00
Office Equipment 85,000.00
Laboratory Equipment 125,000.00
Accounts Payable
Loans Payable
Withholding Taxes Payable
SSS/EC Premium Payable 4,000.00
HDMF Premium Payable
Philhealth Premium Payable
JB Gabon, Capital
JB Gabon, Drawing 295,000.00
Service Income
Rent Expense 75,000.00
Salaries and Wages 212,000.00
Employees Benefit 600.00
Transportation Expense 1,400.00
Office Supplies Expense 500.00
Repair and Maintenance 1,400.00
Taxes and Licenses 1,500.00
Representation Expense 700.00
₱ 2,570,000.00
nce
1

CREDIT

₱ 80,000.00
150,000.00
14,500.00

2,000.00
3,500.00
1,500,000.00

820,000.00

₱ 2,570,000.00
 JBLAB COMPANY
Adjusting Entries
As of December 31, 20X1

DEC 20X1
a

g
 JBLAB COMPANY
Adjusting Entries
As of December 31, 20X1

ACCOUNT TITLES
EC 20X1
Bad Debt Expense
Accounts Receivable
To adjust for the uncollectible accounts

Depreciation Expense - Laboratory and Office Equipment

Accumulated Depreciation
To record depreciation

Unused Supplies
Office Supplies Expense
To adjust for unused office supplies

Insurance Expense
Prepaid Insurance
To adjust for expired insurance

Interest Expense
Interest Payable
To adjust for interest expense on loans payable

Utilities Expense
Utilities Payable
To adjust for unpaid electricbill for the month of Dec. 20x1

SSS and EC Share

HDMF
Philhealth
Employees Benefit
To adjust for employees Share
1

DEBIT CREDIT

₱ 12,000.00
₱ 12,000.00

8,500.00
8,500.00

4,000.00
4,000.00

200.00
200.00

1,000.00
1,000.00

6,000.00
6,000.00

4,000.00
2,000.00
2,500.00
8,500.00
₱ 40,200.00 ₱ 40,200.00
 JBLAB COMPANY
Adjusted Trial Balance
As of December 31, 20X1

ACCOUNTS DEBIT CREDIT

Petty Cash Fund ₱ 6,500.00
Cash in Bank 1,143,400.00
Accounts Receivable 208,000.00
Unused Supplies 174,000.00
Prepaid Insurance 2,800.00
Rental Deposit 225,000.00
Office Equipment 88,500.00
Laboratory Equipment 130,000.00
Accounts Payable ₱ 80,000.00
Loans Payable 150,000.00
Withholding Taxes Payable 14,500.00
SSS/EC Premium Payable -
HDMF Premium Payable 4,000.00
Philhealth Premium Payable 6,000.00
JB Gabon, Capital 1,500,000.00
JB Gabon, Drawing 295,000.00
Service Income 820,000.00
Rent Expense 75,000.00
Salaries and Wages 212,000.00
Employees Benefit 9,100.00
Transportation Expense 1,400.00
Office Supplies Expense 3,500.00
Repair and Maintenance 1,400.00
Taxes and Licenses 1,500.00
Representation Expense 700.00
Bad Debts Expense 12,000.00
Accumulated Depreciation 8,500.00
Insurance Expense 200.00 -
Interest Expense 1,000.00
Interest Payable 1,000.00
Utilities Expense 6,000.00
Utilities Payable 6,000.00
₱ 2,593,500.00 ₱ 2,593,500.00
 ACCOUNT
Petty Cash Fund
Cash in Bank
Accounts Receivable
Unused Supplies
Prepaid Insurance
Rental Deposit
Office Equipment
Laboratory Equipment
Accounts Payable
Loans Payable
Withholding Taxes Payable
SSS/EC Premium Payable
HDMF Premium Payable
Philhealth Premium Payable
JB Gabon, Capital
JB Gabon, Drawing
Service Income
Rent Expense
Salaries and Wages
Employees Benefit
Transportation Expense
Office Supplies Expense
Repair and Maintenance
Taxes and Licenses
Representation Expense
TOTAL
Bad Debts Expense
Accumulated Depreciation
Insurance Expense
Interest Expense
Interest Payable
Utilities Expense
Utilities Payable
TOTAL
PROFIT
TOTALS
 For the Y
UNADJUSTED TRIAL BALANCE ADJUSTMENTS
DEBIT CREDIT DEBIT
6,500.00
1,143,400.00
220,000.00
170,000.00 c) 4,000.00
3,000.00
225,000.00
85,000.00 b) 3,500.00
125,000.00 b) 5,000.00
80,000.00
150,000.00
14,500.00
4,000.00
2,000.00
3,500.00
1,500,000.00
295,000.00
820,000.00
75,000.00
212,000.00
600.00 g) 8,500.00
1,400.00
500.00
1,400.00
1,500.00
700.00
₱ 2,570,000.00 ₱ 2,570,000.00
a) 12,000.00

d) 200.00
e) 1,000.00

f) 6,000.00
₱ 40,200.00
 JBLAB COMPANY
Worksheet
For the Year Ended December 31, 20X1
ADJUSTMENTS ADJUSTED TRIAL BALANCE
CREDIT DEBIT CREDIT
6,500.00
1,143,400.00
a) 12,000.00 208,000.00
174,000.00
d) 200.00 2,800.00
225,000.00
88,500.00
130,000.00
80,000.00
150,000.00
14,500.00
4,000.00 -
2,000.00 4,000.00
2,500.00 6,000.00
1,500,000.00
295,000.00
820,000.00
75,000.00
212,000.00
9,100.00
1,400.00
c) 4,000.00 3,500.00
1,400.00
1,500.00
700.00

12,000.00
b) 8,500.00 8,500.00
200.00
1,000.00
e) 1,000.00 1,000.00
6,000.00
f) 6,000.00 6,000.00
₱ 40,200.00 ₱ 2,593,500.00 ₱ 2,593,500.00
STATEMENT OF COMPREHENSIVE INCOME
DEBIT CREDIT
STATEMENT OF FINANCIAL POSITION
DEBIT CREDIT