Problem 1

Cash on hand 40,800.00

Psbank 374,000.00
BPI Savings 342,400.00
Total cash 757,200.00

Cash on hand 40,800.00

Psbank 374,000.00
BPI Savings 342,400.00
Time deposit w/ maturity of 3 mos 1,000,000.00
Total cash and cash equivalent 1,757,200.00

checking acct 540,000.00

savings 884,000.00
undeposited checks 208,000.00
currency and coins 23,200.00
PNB checking acct 800,000.00
Treasury bills - 30 day maturity 600,000.00
Total cash and cash equivalents 3,055,200.00

savings 900,000.00 900,000.00

checking 1,200,000.00 1,200,000.00
money market 7,500,000.00
petty cash 1,500.00 1,500.00
currency and coins 11,550.00 11,550.00
commercial paper 3,150,000.00
MBTC bank 50,000.00 50,000.00
total cash and cash equivalent 12,813,050.00 2,163,050.00

Petty cash
Currency 1,650.00
PCV vouchers 3,960.00
Check to PCF custodian 7,200.00
NSF check 1,000.00
total cash accounted 13,810.00
pcf per gl 16,000.00
shortage (2,190.00)

currency 1,650.00
check of custodian 7,200.00
adjusted balance of pcf 8,850.00
GENERAL JOURNAL
Date Account Titles and Explanation PR Debit
2014
May
1 Cash 110 100,000.00
W. Kayayan, Capital 210
Initial investment of the owner

3 Office Supplies 140 20,000.00

Accounts Payable 210

120,000.00
PAGE No. 1
Credit

100,000.00

20,000.00

120,000.00
GENERAL JOURNAL
Date Account Titles and Explanation PR Debit
2014
May 1 Cash 110 100,000.00
W. Kayayan, Capital 310
Initial investment

3 Offices supplies 140 20,000.00

Accounts payable 210

5 Accounts payable 15,000.00

Cash
Credit

100,000.00

20,000.00

15,000.00
Account: Cash Account No. 110
date Explanation J.R. Debit Credit Balance
2014
May 1 initial investment 100,000.00 100,000.00
5 15,000.00 85,000.00
85,000.00
85,000.00

Account: W. Kayayan, Capital Account No. 310

date Explanation J.R. Debit Credit Balance
2014
May 1 initial investment 100,000.00 100,000.00
100,000.00
100,000.00
100,000.00

Account: Office Supplies Account No. 140

date Explanation J.R. Debit Credit Balance
2014
May 1 - -
3 20,000.00 20,000.00
20,000.00
20,000.00

Account: Accounts Payable Account No. 310

date Explanation J.R. Debit Credit Balance
2014
May 3 20,000.00 20,000.00
5 15,000.00 5,000.00
5,000.00
5,000.00
 Debit Credit

Cash 85,000.00
Kayayan Capital 100,000.00
Accounts Payable 5,000.00
Office Supplies 20,000.00

Total 105,000.00 105,000.00

GENERAL JOURNAL PAGE No. 1
Date Account Titles and Explanation PR Debit Credit
2014
May 1 Cash 110 100,000.00
W. Kayayan, Capital 310 100,000.00
Initial investment

3 Office supplies 140 20,000.00

Accounts Payable 210 20,000.00

5 office supplies 140 10,000.00

Cash 110 10,000.00

6 Accounts payable 210 20,000.00

Cash 110 20,000.00

8 Office equipment 160 50,000.00

Accounts payable 210 50,000.00

10 Cash 110 25,000.00

Service revenue 410 25,000.00

15 Accounts Receivable 220 30,000.00

Service Revenue 410 30,000.00

15 Utilities expense 520 3,500.00

Cash 110 3,500.00

15 salaries expense 530 15,000.00

Cash 110 15,000.00

16 Cash 275,000.00
Service Revenue 275,000.00

Office equipment 72,500.00

Cash 22,500.00
Accounts payable 50,000.00
Account: Cash Account No. 110
date Explanation J.R. Debit Credit Balance

May 1 initial investment 100,000.00 100,000.00

5 10,000.00 90,000.00
6 20,000.00 70,000.00
10 25,000.00 95,000.00
15 3,500.00 91,500.00
15 15,000.00 76,500.00
16 275,000.00 351,500.00
16 22,500.00 329,000.00

Account: W. Kayayan, Capital Account No. 310

date Explanation J.R. Debit Credit Balance

1-May 100,000.00 100,000.00

100,000.00
100,000.00
100,000.00

Account: Office Supplies Account No. 140

date Explanation J.R. Debit Credit Balance
2014
'May 3 20,000.00 20,000.00
5 10,000.00 30,000.00
30,000.00
30,000.00

Account: Accounts Payable Account No. 310

date Explanation J.R. Debit Credit Balance
2014
May 3 20,000.00 20,000.00
6 20,000.00 -
8 50,000.00 50,000.00
16 50,000.00 100,000.00

Account: Office Equipment Account No. 140

date Explanation J.R. Debit Credit Balance
2014
May 8 50,000.00 50,000.00
16 72,500.00 122,500.00
122,500.00
 122,500.00

Account: Service Revenue Account No. 310

date Explanation J.R. Debit Credit Balance

May 10 25,000.00 25,000.00

15 30,000.00 55,000.00
16 275,000.00 330,000.00
330,000.00

Account: Account Receivable Account No. 140

date Explanation J.R. Debit Credit Balance
2014
May 15 30,000.00 30,000.00
3 30,000.00
30,000.00
30,000.00

Account: Utilities Expense Account No. 140

date Explanation J.R. Debit Credit Balance
2014
May 15 3,500.00 3,500.00
3,500.00
3,500.00
3,500.00

Account: Salaries Expense Account No. 140

date Explanation J.R. Debit Credit Balance
2014
May 15 15,000.00 15,000.00
3 15,000.00
15,000.00
15,000.00
ABC & CO.
WORKING TRIAL BALANCE
For the month of May 2014

Trial Balance
Accounts Title Debit Credit

Cash 329,000.00
Accounts receivable 30,000.00
Office Equipment 122,500.00
Accounts payable 100,000.00
Kayayan, Capital 100,000.00
Service revenue 330,000.00
Office supplies 30,000.00
utilities expense 3,500.00
Salaries expense 15,000.00

530,000.00 530,000.00