Company Jose Calvez Realty

Name:
Year end: December 31, 2020
Subject: ADJUSTING JOURNAL ENTRY (AJE)

AJE Amount (in Php)

Number Account Code ACCOUNTS/EXPLANATION DR CR

1 104 Office Supplies 1,350.00

504 Supplies Expense 1,350.00

2 105 Prepaid Insurance 5,400.00

503 Insurance Expense 5,400.00

3 505 Depreciation Expense 9,160.00

107 Accumulated Depreciation 9,160.00

4 501 Rent Expense 5,000.00

201 Accrued expenses 5,000.00

5 101 Accounts Receivable 10,000.00

400 Fees earned 10,000.00

6 500 Salary Expense 4,400.00

201 Accrued expenses 4,400.00

7 202 Unearned Fees

400 Fees earned

8 103 Accrued Interest Income 1,200.00

401 Interest Income 1,200.00
Company Jose Calves Realty
Name:
Year end: December 31, 2020
Subject: Worksheet

Account Trial Balance Adjustments Adjusted Trial Balance Financial Performance Financial Position
Code Account name DR CR DR CR DR CR DR CR DR CR

100 Cash 30,250.00 30,250.00 30,250.00

101 Accounts Receivable 50,000.00 50,000.00 50,000.00
102 Notes Receivable 20,000.00 20,000.00 20,000.00
103 Accrued Interest Income - 15,618.00 15,618.00
104 Office Supplies - 4,153.00 4,153.00
105 Prepaid Insurance - 1,000.00 1,800.00
106 Office Equipment 91,600.00 91,600.00
107 Accumulated Depreciation P18,320.00 7,328.00
200 Accounts Payable 9,250.00
201 Accrued Expenses - 9,400.00
202 Unearned Fees 12,500.00 6,826.00
300 Jose Calves, Capital 64,880.00
301 Jose Calves, Drawing 40,400.00 40,400.00
400 Fees Earned 439,500.00 6,826.00
500 Salary Expense 215,500.00 4,400.00 215,900.00
501 Rent Expense 55,000.00 5,000.00 80,000.00
502 Utilities Expense 16,500.00 10,500.00
503 Insurance Expense 7,200.00 1,800.00 5,400.00
504 Supplies Expense 5,400.00 4,153.00 1,247.00
505 Depreciation Expense - 7,328.00
506 Miscellaneous Expense 12,600.00 7,328.00 12,600.00
401 Interest Income - 15,618.00
BALANCE 544,450.00 544,450.00 44,325.00 45,125.00 586,796.00
1000 Income summary -
BALANCE AFTER FINANCIAL PERFORMANCE
Company Jose Calves Realty
Name:
Year end: December 31, 2020
Subject: Closing Entries

Amount
Date Account Code ACCOUNTS DR
(in Php)
CR
Jose Calves Realty
STATEMENT OF FINANCIAL PERFORMANCE
31-Dec-20
In Philippine Peso

REVENUES:
Fees Earned

EXPENSES:
Salary Expense
Rent Expense
Utilities Expense
Insurance Expense
Supplies Expense
Depreciation Expense
Miscellaneous Expense

OTHER INCOME:
Interest Income
Net income

8
8
Jose Calves Realty
STATEMENTS OF CHANGES IN EQUITY
31-Dec-20
In Philippine Peso

Beginning
Withdrawal
Net income
Ending

9
Jose Calves Realty
STATAMENTS OF FINANCIAL POSITION
31-Dec-20
In Philippine Peso

ASSETS

Current Assets
Cash
Accounts Receivable
Notes Receivable
Accrued Interest Income
Office Supplies
Prepaid Insurance

Total Current Assets

Non-current Assets
Office Equipment
Accumulated Depreciation

Total Non-current Assets

TOTAL ASSETS

LIABILITIES AND EQUITY

Liabilities
Accounts Payable
Accrued Expenses
Unearned Fees

Total Liabilities

Equity
Jose Calves, Capital
TOTAL LIABILITIES AND EQUITY

7
Company Jose Calve Realty
Name:
Year end: December 31, 2020
Subject: POST CLOSING TRIAL BALANCE

Account Post Closing Trial Balance

Code Account name DR CR

100 Cash
101 Accounts Receivable
102 Notes Receivable
103 Accrued Interest Income
104 Office Supplies
105 Prepaid Insurance
106 Office Equipment
107 Accumulated Depreciation
200 Accounts Payable
201 Accrued Expenses
202 Unearned Fees
300 Jose Calves, Capital
TOTAL
c
 <Insert Company Name>
Company Name:
Year end: <Accounting period>
Subject: Reversing Entries

Account Amount (in Php)

Date Code ACCOUNTS DR CR
Company <Insert Company Name>
Name:
Year end: <Accounting period>
Subject: Financial Soundness

Current ratio:

Current ratio:

Acid-test ratio:

Acid-test ratio:

Rate of Return on Total Assets

Rate of Return on Equity