Name: Carla Joyce Ann B.

Alvarez
Section: 11 ABM MINTZBERG

GENERAL LEDGER

CASH

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 1 Initial Investment 150,000 March 2 Additional 45,000

Investment

5 Rendered Services 15,000 15 Salary 5,000

12 Rendered Services 12,000 18 Payment of the 13,000

account due

24 Rendered Services 15,000 19 Rent 30,000

26 Received Promissory 36,000 20 Withdrawal of 5,000

note Makiki

31 Received from the 85,000 28 Utility bills 8,000

customer

313,000 29 Full payment 13,000

30 Advertising 10,000

129,000

184,000

313,000

FURNITURE

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 8 Purchased 26,000 March

furniture in credit
 COMPUTER SET

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 2 Additional 45,000 March

Investment

ACCOUNT RECEIVABLE

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 12 Rendered service 36,000 March

NOTE PAYABLE

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March March 26 Received 36,000

promissory note

ACCOUNTS PAYABLE

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 18 Payment of the 13,000 March

amount due

29 Full payment 13,000

26,000

BUSINESS MAKIKI-CAPITAL
DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March March 1 Initial Investment 150,000

MAKIKI-DRAWING

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 20 Withdrawal of 5,000 March

Makiki

SERVICE INCOME

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 5 Rendered 15,000

Services

12 Rendered 48,000
Services

24 Rendered 15,000
Services

31 Received from 85,000

the customer

163,000

SALARY EXPENSES

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 15 Payment of the 5,000 March

assistant

RENT EXPENSES

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

 March 19 Payment of the rent 30,000 March

UTILITY EXPENSES

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 28 Payment of the 8,000 March

utility bills

ADVERTISING EXPENSES

DATE EXPLANATION DEBIT DATE EXPLANATION CREDIT

March 30 Payment for the 10,000 March

business advertising

TRIAL BALANCE
MAKIKI - COMPUTER SHOP
MARCH 2021

Particulars Debit Credit

Cash ₱ 184,000

Furniture 25,000

Computer Set 45,000

Account Receivable 36,000

Note Payable 36,000

Business - Capital 150,000

Makiki - Drawing 5,000

Service Income 183,000

Salary Expenses 5,000

Rent Expenses 30,000

Utility Expenses 8,000

Advertising Expenses 10,000

Total: ₱ 349,000 ₱ 349,000

MAKIKI - COMPUTER SHOP

COMPREHENSIVE INCOME STATEMENT
FOR THE MONTH ENDED MARCH 31, 2021

Service Income ₱ 183,000

Less: Expenses

Salary Expenses ₱ 5,000

Rent Expenses 30,000

Utility Expenses 8,000

Advertising Expenses 10,000

Total Expenses: ₱ 53,000

Profit: ₱ 130,000

MAKIKI - COMPUTER SHOP

STATEMENT OF OWNER’S EQUITY
FOR THE MONTH ENDED MARCH 31, 2021

Business - Capital of Makiki ₱ 150,000

Computer Shop, March 1,
2021

Add:

Additional Investment ₱0

Profit ₱ 130,000 ₱ 130,000

Total = ₱ 280,000

Less: Withdrawals/Drawing 5,000

Business - Capital of Makiki = ₱ 275,000

Computer Shop, March 31,
2021

MAKIKI - COMPUTER SHOP

BALANCE SHEET
FOR THE MONTH ENDED MARCH 31, 2021

ASSETS

Current Assets
Cash ₱ 184,000

Account Receivable 36,000

Total Current Assets: = ₱ 220,000

Non-Current Assets
Furniture 25,000
Computer Set 45,000
Total Non-Current = ₱ 70,000
Assets