LA MODERNA INTERIORS

Worksheet
For the period ended May 31, 2011
Unadjusted Pre-Closing Adjusted Closing Post-Closing adjusted
Adjustment Correction
Date Account Titles Trial Balance Trial Balance Entry Trial balance
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash -₱ 458,000- -₱ 458,000- -₱ 458,000-
Accounts Receivable - 567,000- (h) -₱ 16,500- 583,500 583,500
Notes Receivable - 200,000- (i) 5,670 205,670 205,670
Supplies - 24,000- (c) -₱ 14,000- 10,000 10,000
Prepaid Insurance - 34,500- (d) 1,150 33,350 33,350
Land - 724,500- - 724,500- 724,500
Building - 542,000- - 542,000- 542,000
Accumulated Depreciation - Bldg. -₱ 157,500- (a) 4,500 -₱ 162,000- -₱ 162,000-
Equipment - 489,000- - 489,000- 489,000
Accumulated Depreciation - Equip. - 393,000- (a) 9,000 402,000 402,000
Accounts Payable - 339,000- (g) 1,500 340,500 340,500
Notes Payable - 100,000- - 100,000- 100,000
Interest Payable (e) 2,825 2,825 2,825
Wages Payable (b) 23,000 23,000 23,000
Unearned Service Revenue 157,500 (f) 73,500 231,000 231,000
Notes Payable, long term - 336,000- - 336,000- 336,000
C. Adorable, Capital - 1,186,500- - 1,186,500- 1,186,500
C. Adorable, Drawing - 63,000- - 63,000- 63,000
Service Revenue - 501,500- (f) 73,500 (h) 16,500 - 444,500- -₱ 444,500-
Interest Revenue (i) 5,670 5,670 5,670
Depreciation Expense - Equip. (a) 9,000 9,000 -₱ 9,000-
Depreciation Expense - Bldg. (a) 4,500 4,500 4,500
Wages Expense 48,000 (b) 23,000 71,000 71,000
Insurance Expense (d) 1,150 1,150 1,150
Interest Expense (e) 2,825 2,825 2,825
Utilities Expense 16,500 16,500 16,500
Advertising Expense 4,500 (g) 1,500 6,000 6,000
Supplies Expense (c) 14,000 14,000 14,000
Total -₱ 3,171,000- -₱ 3,171,000- -₱ 151,645- -₱ 151,645- -₱ 3,233,995- -₱ 3,233,995- -₱ 124,975- -₱ 450,170- -₱ 3,109,020- -₱ 2,783,825-
Net Income -₱ 325,195- -₱ 325,195-
Totals -₱ 450,170- -₱ 450,170- -₱ 3,109,020- -₱ 3,109,020-