Leah May Santi

For the Year E

Trial Balance
Account Titles Debit Credit
Cash 45,000.00
Notes Receivable 360,000.00
Accounts Receivable 156,000.00
Office Supplies 63,000.00
Land 300,000.00
Building 1,590,000.00
Accumulated Depreciation-Building 254,000.00
Equipment 2,150,000.00
Accumulated Depreciation-Equipment 612,000.00
Accounts Payable 213,000.00
Unearned Consulting Revenues 450,000.00
Santiago, Capital, 1/1/2021 2,655,000.00
Santiago, Withdrawals 600,000.00
Consulting Revenues 2,108,000.00
Salaries Expense 875,000.00
Repairs Expense 116,000.00
Miscellaneous Expense 37,000.00
Totals 6,292,000.00 6,292,000.00

Office Supplies Expense

Depreciation Expense-Building
Depreciation Expense-Equipment
Salaries Payable
Interest Receivable
Interest Income
Leah May Santiago Information Systems
Worksheet
For the Year Ended December 31, 2021

Adjustment Adjusted Trial Balance Income Statement

Debit Credit Debit Credit Debit Credit
45,000.00
360,000.00
156,000.00
a 42,000.00 21,000.00
300,000.00
1,590,000.00
c 38,000.00 292,000.00
2,150,000.00
c 123,000.00 735,000.00
213,000.00
b 150,000.00 300,000.00
2,655,000.00
600,000.00
b 150,000.00 2,258,000.00 2,258,000.00
d 14,000.00 889,000.00 889,000.00
116,000.00 116,000.00
37,000.00 37,000.00

a 42,000.00 42,000.00 42,000.00

c 38,000.00 38,000.00 38,000.00
c 123,000.00 123,000.00 123,000.00
d 14,000.00 14,000.00
e 24,000.00 24,000.00
e 24,000.00 24,000.00 24,000.00
391,000.00 391,000.00 6,491,000.00 6,491,000.00 1,245,000.00 2,282,000.00
1,037,000.00
2,282,000.00 2,282,000.00
Statement of Financial Position
Debit Credit
45,000.00
360,000.00
156,000.00
21,000.00
300,000.00
1,590,000.00
292,000.00
2,150,000.00
735,000.00
213,000.00
300,000.00
2,655,000.00
600,000.00

14,000.00
24,000.00

5,246,000.00 4,209,000.00
1,037,000.00
5,246,000.00 5,246,000.00
 Date Particulars F
2021
October 1 Cash
Marasigan, Capital
The owner transferred cash to a bank account.

1 Medical Building
Land
Cash
Notes Payable
Acquired medical clinic and land on account.

1 Medical Equipment
Medical Suplies
Cash
Notes Payable
Acquired medical equipment and medical supplies
on account.

2 Prepaid Insurance
Cash
Acquired insurance policy for a year.

4 Cash
Medical Revenues
Received cash for services rendered.

7 Medical Supplies
Accounts Payable
Bought medical supplies on account.

10 Salaries Expense
Cash
Paid salaries.

12 Cash
Unearned Research Revenues
Received cash for the services rendered to be
conducted for the next three months.

18 Accounts Receivable
Medical Revenues
Billed patients for services rendered.

21 Repairs Expense
Cash
Paid cash for repairs.
23 Telephone Expense
Cash
Paid telephone bill.

24 Medical Equipment
Accounts Payable
Bought medical equipment on account.

27 Accounts Payable
Cash
Paid on account to San Pablo Supply.

30 Marasigan, Withdrawals
Cash
Withdrew cash form medical practice.

30 Association Dues Expense

Cash
Paid dues to Laguna Medical Association.
Debit Credit

250,000.00
250,000.00

1,000,000.00
250,000.00
50,000.00
1,200,000.00

420,000.00
39,000.00
59,000.00
400,000.00

20,000.00
20,000.00

117,000.00
117,000.00

17,000.00
17,000.00

73,000.00
73,000.00

90,000.00
90,000.00

317,000.00
317,000.00

23,000.00
23,000.00
 3,000.00
3,000.00

45,000.00
45,000.00

13,000.00
13,000.00

200,000.00
200,000.00

15,000.00
15,000.00

2,892,000.00 2,892,000.00
 Cash
Date Description F Debit
2021
October 1 GJ-1 250,000.00
4 GJ-1 117,000.00
12 GJ-1 90,000.00
25 GJ-1 113,000.00
570,000.00

114,000.00

Accounts Receivable
Date Description F Debit
2021
October 18 GJ-1 317,000.00

204,000.00

Medical Supplies
Date Description F Debit
2021
October 1 GJ-1 39,000.00
7 GJ-1 17,000.00
56,000.00

56,000.00

Prepaid Insurance
Date Description F Debit
2021
October 2 GJ-1 20,000.00

20,000.00
Land
Date Description F Debit
2021
October 1 GJ-1 250,000.00

250,000.00

Medical Building
Date Description F Debit
2021
October 1 GJ-1 1,000,000.00

1,000,000.00

Accumulated Depreciation-Medical Building

Date Description F Debit
2021
October

Medical Equipment
Date Description F Debit
2021
October 1 GJ-1 420,000.00
24 GJ-1 45,000.00
465,000.00

465,000.00

Accumulated Depreciation-Medical Equipment

Date Description F Debit
2021
October

24% Notes Payable

Date Description F Debit
2021
October
20% Notes Payable
Date Description F Debit
2021
October

Accounts Payable
Date Description F Debit
2021
October 27 GJ-1 13,000.00

Salaries Payable
Date Description F Debit
2021
October

Interest Payable
Date Description F Debit
2021
October

Unearned Research Revenues

Date Description F Debit
2021
October

Marasigan, Capital
Date Description F Debit
2021
October
Marasigan, Withdrawals
Date Description F Debit
2021
October 30 GJ-1 200,000.00

200,000.00

Income Summary
Date Description F Debit

Medical Revenues
Date Description F Debit
2021
October

Research Revenues
Date Description F Debit
2021
October

Salaries Expense
Date Description F Debit
2021
October 10 GJ-1 73,000.00

73,000.00
Insurance Expense
Date Description F Debit
2021
October

Repairs Expense
Date Description F Debit
2021
October 21 GJ-1 23,000.00

23,000.00

Supplies Expense
Date Description F Debit
2021
October

Association Dues Expense

Date Description F Debit
2021
October 30 GJ-1 15,000.00

15,000.00

Telephone Expense
Date Description F Debit
2021
October 23 GJ-1 3,000.00

3,000.00
Depreciation Expense-Bldg
Date Description F Debit
2021
October

Depreciation Expense-Equipment
Date Depreciation F Debit
2021
October

Interest Expense
Date Depreciation F Debit
2021
October
 110
Date Description F Credit
2021
October 1 GJ-1 50,000.00
1 GJ-1 59,000.00
2 GJ-1 20,000.00
10 GJ-1 73,000.00
21 GJ-1 23,000.00
23 GJ-1 3,000.00
27 GJ-1 13,000.00
30 GJ-1 200,000.00
30 GJ-1 15,000.00
456,000.00

120
Date Description F Credit
2021
October 25 GJ-1 113,000.00

130
Date Description F Credit
2021
October

140
Date Description F Credit
2021
October
 150
Date Description F Credit
2021
October

160
Date Description F Credit
2021
October

165
Date Description F Credit
2021
October

170
Date Description F Credit
2021
October

175
Date Description F Credit
2021
October

210
Date Description F Credit
2021
October 1 GJ-1 400,000.00
 400,000.00

220
Date Description F Credit
2021
October 1 GJ-1 1,200,000.00

1,200,000.00

230
Date Description F Credit
2021
October 7 GJ-1 17,000.00
24 GJ-1 45,000.00
62,000.00

49,000.00

240
Date Description F Credit
2021
October

250
Date Description F Credit
2021
October

260
Date Description F Credit
2021
October 12 GJ-1 90,000.00

90,000.00

310
Date Description F Credit
2021
October 1 GJ-1 250,000.00
 250,000.00

320
Date Description F Credit
2021
October

330
Date Description F Credit

410
Date Description F Credit
2021
October 4 GJ-1 117,000.00
18 GJ-1 317,000.00
434,000.00

434,000.00

420
Date Description F Credit
2021
October

510
Date Description F Credit
2021
Ocotber
 520
Date Description F Credit
2021
October

530
Date Description F Credit
2021
October

540
Date Description F Credit
2021
October

550
Date Description F Credit
2021
October

560
Date Description F Credit
2021
October
 570
Date Description F Credit
2021
October

580
Date Depreciation F Credit
2021
October

590
Date Depreciation F Credit
2021
October
 Dr. Nick Marasigan
Trial Balance
As of October 31, 2021

Account Titles Debit

Cash 114,000.00
Accounts Receivable 204,000.00
Medical Supplies 56,000.00
Prepaid Insurance 20,000.00
Land 250,000.00
Medical Building 1,000,000.00
Medical Equipment 465,000.00
24% Notes Payable
20% Notes Payable
Accounts Payable
Unearned Service Revenues
Marasigan, Capital
Marasigan, Withdrawals 200,000.00
Medical Revenues
Salaries Expense 73,000.00
Repairs Expense 23,000.00
Association Dues Expense 15,000.00
Telephone Expense 3,000.00
2,423,000.00
Credit

400,000.00
1,200,000.00
49,000.00
90,000.00
250,000.00

434,000.00

2,423,000.00
 D

For the

Trial Balance
Account Titles Debit
Cash 114,000.00
Accounts Receivable 204,000.00
Medical Supplies 56,000.00
Prepaid Insurance 20,000.00
Land 250,000.00
Medical Building 1,000,000.00
Medical Equipment 465,000.00
24% Notes Payable
20% Notes Payable
Accounts Payable
Unearned Research Revenues
Marasigan, Capital
Marasigan, Withdrawals 200,000.00
Medical Revenues
Salaries Expense 73,000.00
Repairs Expense 23,000.00
Association Dues Expense 15,000.00
Telephone Expense 3,000.00
Totals 2,423,000.00

Insurance Expense
Supplies Expense
Depreciation Expense-Building
Accumulated Depreciation Expense-Medical Building
Depreciation Expense-Equipment
Accumulated Depreciation-Medical Equipment
Research Revenues
Salaries Payable
Interest Expense
Interest Payable
 Dr. Nick Marasigan
Worksheet
For the Year Ended May 31, 2021

Trial Balance Adjustment Adjusted Trial Balance Income Statement

Credit Debit Credit Debit Credit Debit
114,000.00
204,000.00
b 35,000.00 21,000.00
a 1,666.67 18,333.33
250,000.00
1,000,000.00
465,000.00
400,000.00 400,000.00
1,200,000.00 1,200,000.00
49,000.00 49,000.00
90,000.00 d 30,000.00 60,000.00
250,000.00 250,000.00
200,000.00
434,000.00 434,000.00
e 51,000.00 124,000.00 124,000.00
23,000.00 23,000.00
15,000.00 15,000.00
3,000.00 3,000.00
2,423,000.00

a 1,666.67 1,666.67 1,666.67

b 35,000.00 35,000.00 35,000.00
c 5,000.00 5,000.00 5,000.00
c 5,000.00 5,000.00
c 9,000.00 9,000.00 9,000.00
c 9,000.00 9,000.00
d 30,000.00 30,000.00
e 51,000.00 51,000.00
f 28,000.00 28,000.00 28,000.00
f 28,000.00 28,000.00
159,666.67 159,666.67 2,516,000.00 2,516,000.00 243,666.67
220,333.33
464,000.00
Income Statement Statement of Financial Position
Credit Debit Credit
114,000.00
204,000.00
21,000.00
18,333.33
250,000.00
1,000,000.00
465,000.00
400,000.00
1,200,000.00
49,000.00
60,000.00
250,000.00
200,000.00
434,000.00

5,000.00

9,000.00

30,000.00
51,000.00

28,000.00
464,000.00 2,272,333.33 2,052,000.00
220,333.33
464,000.00 2,272,333.33 2,272,333.33