Dormitory Locators Journal Entries

Date Accounts and Explanation Debit Credit

July a Cash ₱45,000.00
Capital ₱45,000.00
Owner's cash investment

b Supplies ₱3,500.00
Accounst Payable ₱3,500.00
Purschased supplies on account

c Land ₱300,000.00
Cash ₱300,000.00
Acquired land in cash

d Cash ₱19,000.00
Unearned Revenue ₱19,000.00
Received payment in advance

e Accounts Payable ₱1,000.00

Cash ₱1,000.00
Paid cash on accounst payable

g Rent Expense ₱4,000.00

Utilities Expense ₱1,000.00
Cash ₱5,000.00
Paid cash on expenses

h Calamba, Withdrawals ₱12,000.00

Cash ₱12,000.00
Withdrew cash for personal use
 Dormitory Locators Dor
Statement of Financial Performance Statemen
For the Month ended Decemenber 31, 2021 For the Month

Revenues Asset
0
Less: Expenses
Utilities Expense 1,000
Rent Expenses 4,000 TOTAL ASSET
-5,000
Liabilities

Dormitory Locators TOTAL LIABILITIES

Statement of Changes in Equity
For the Month ended Decemenber 31, 2021 Equity

Beginning Capital of Calamba 450,000

Add: Additional Investments TOTAL LIABILITIES AND EQUIT
Profit -5,000
TOTAL 445,000
Less: Calamba, Withdrawals 12,000
Ending Capital of Calamba 433,000
 Dormitory Locators
Statement of Financial Position
For the Month Ended December 31,2021

Cash 151,000
Supplies 3,500
Land 300,000
TOTAL ASSET 454,500

Accounts Payable 2,500

Unearned Revenue 19,000
TOTAL LIABILITIES 21,500

Equity
Calamba, Capital 433,000
454,500
TOTAL LIABILITIES AND EQUITY