a. Office Supplies Expense 42,000.

00
Office Supplies 42,000.00
To take up supplies used for operation

b. Unearned Consulting Revenues 150,000.00

Consulting Revenues 150,000.00
Earned Revenue

c. Depreciation Expense - Building 38,000.00

Depreciation Expense - Equipment 123,000.00
Accumulated Depreciation - Building 38,000.00
Accumulated Depreciation - Equipment 123,000.00
Depreciation for bldg and equip

d. Salaries Expense 14,000.00

Salaries Payable 14,000.00
Accrued Salaries

e Interest Receivable 24,000.00

Interest Revenue 24,000.00
 Moises Dondoyano Information Systems
WORKSHEET
For the Month Ended December 31, 2019

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
No. Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
110 Cash 45,000.00 45,000.00 45,000.00
120 Notes Receivable 360,000.00 360,000.00 360,000.00
130 Accounts Receivable 156,000.00 156,000.00 156,000.00
140 Office Supplies 63,000.00 a. 42,000.00 21,000.00 21,000.00
150 Land 300,000.00 300,000.00 300,000.00
160 Building 1,590,000.00 1,590,000.00 1,590,000.00
165 Accumulated Depreciation 254,000.00 c. 38,000.00 292,000.00 292,000.00
170 Equipment 2,150,000.00 2,150,000.00 2,150,000.00
175 Accumulated Depreciation 612,000.00 c. 123,000.00 735,000.00 735,000.00
180 Interest Receivable e. 24,000.00 24,000.00 24,000.00
210 Accounts Payable 213,000.00 213,000.00 213,000.00
220 Unearned Consulting Revenues 450,000.00 b. 150,000.00 300,000.00 300,000.00
230 Salaries Payable d. 14,000.00 14,000.00 14,000.00
310 Dondoyano, Capital, 1/1/2019 2,655,000.00 2,655,000.00 2,655,000.00
320 Dondoyano, Withdrawals 600,000.00 600,000.00 600,000.00
330 Income Summary
410 Consulting Revenues 2,108,000.00 b. 150,000.00 2,258,000.00 2,258,000.00
420 Interest Revenue e. 24,000.00 24,000.00 24,000.00
510 Salaries Expense 875,000.00 d. 14,000.00 889,000.00 889,000.00
520 Repairs Expense 116,000.00 116,000.00 116,000.00
530 Miscellaneous Expense 37,000.00 37,000.00 37,000.00
540 Office Supplies Expense a. 42,000.00 42,000.00 42,000.00
550 Depreciation Expense - Building c. 38,000.00 38,000.00 38,000.00
560 Depreciation Expense - Equipment c. 123,000.00 123,000.00 123,000.00

6,292,000.00 6,292,000.00 391,000.00 391,000.00 6,491,000.00 6,491,000.00 1,245,000.00 2,282,000.00 5,246,000.00 4,209,000.00
Profit 1,037,000.00 1,037,000.00
2,282,000.00 2,282,000.00 5,246,000.00 5,246,000.00
 Moises Dondoyano Information Systems
INCOME STATEMENT/FINANCIAL PERFORMANCE
For the Month Ended December 31, 2019

Revenues
Consulting Revenues P 2,258,000.00
Interest Revenue 24,000.00
Total P 2,282,000.00

Expenses
Salaries Expense P 889,000.00
Repairs Expense 116,000.00
Miscellaneous Expense 37,000.00
Office Supplies Expense 42,000.00
Depreciation Expense - Building 38,000.00
Depreciation Expense - Equipment 123,000.00
Total P 1,245,000.00

Profit P 1,037,000.00
 Moises Dondoyano Information Systems
Statement of Changes in Equity
For the Month Ended December 31, 2019

Dondoyano, Owner's Equity, 12/1/2019 P 2,655,000.00

Add: Additional Investment by Dondoyano P -
Profit 1,037,000.00 1,037,000.00
Total P 3,692,000.00
Less: Withdrawals 600,000.00
Dondoyano, Owner's Equity, 12/31/2019 P 3,092,000.00
 Moises Dondoyano Information Systems
BALANCE SHEET/FINANCIAL POSITION
For the Month Ended December 31, 2019

ASSETS
Current Asset
Cash P 45,000.00
Notes Receivable 360,000.00
Accounts Receivable 156,000.00
Office Supplies 21,000.00
Interest Receivable 24,000.00
Total Current Assets P 606,000.00
Property and Equipment (Net)
Land P 300,000.00
Building P 1,590,000.00
Less: Accu. Depn. - Building 292,000.00 P 1,298,000.00
Equipment 2,150,000.00
Less: Accu. Depn. - Equipment 735,000.00 P 1,415,000.00
Total Non -Current Assets P 3,013,000.00
Total Assets P 3,619,000.00

LIABILITIES
Current Liabilities
Accounts Payable P 213,000.00
Unearned Consulting Revenues 300,000.00
Salaries Payable 14,000.00
Total Current Liabilities P 527,000.00

OWNER'S EQUITY
Dondoyano, Capital, 12/31/2019 P 3,092,000.00
Total Liabilities and Owner's Equity P 3,619,000.00
1. To close the Income Account

2019
Dec. 31 Consulting Revenues 410 2,258,000.00
Interest Revenue 420 24,000.00
Income Summary 330 2,282,000.00

2. To close the expense account

2019
Dec. 31 Income Summary 330 1,245,000.00
Salaries Expense 510 889,000.00
Repairs Expense 520 116,000.00
Miscellaneous Expense 530 37,000.00
Office Supplies Expense 540 42,000.00
Depreciation Expense - Building 550 38,000.00
Depreciation Expense - Equipment 560 123,000.00

3. To close the Income summary account

2019
Dec. 31 Income Summary 330 1,245,000.00
Dondoyano, Capital 310 1,245,000.00

4. To close the Dondoyano Withdrawal

2019
Dec. 31 Dondoyano, Capital 310 600,000.00
Dondoyano, Withdrawal 320 600,000.00
 Moises Dondoyano Information Systems
Post - Closing Trial Balance
For the Month Ended December 31, 2019

Cash 45,000.00
Notes Receivable 360,000.00
Accounts Receivable 156,000.00
Office Supplies 21,000.00
Land 300,000.00
Building 1,590,000.00
Accu. Dep. - Building 292,000.00
Equipment 2,150,000.00
Accu. Dep. - Equipment 735,000.00
Interest Receivable 24,000.00
Accounts Payable 213,000.00
Unearned Consulting Revenues 300,000.00
Salaries Payable 14,000.00
Dondoyano, Capital 3,092,000.00
4,646,000.00 4,646,000.00