GENIL, JAN MALAYA

BSTM 1A ACCOUNTING 1
Journal Entry

DATE ACCOUNTS DR CR

October

1 CASH P50 000

COMPUTER SYSTEM 20 000

OFFICE EQUIPMENT 80 000

DY, CAPITAL 150 000

3 COMPUTER SUPPLIES 8 420

ACCOUNT PAYABLE 8 420

6 ACCOUNT RECEIVABLE 4 800

SERVICE FEE EARNED 4 800

8 ACCOUNT PAYABLE 8 420

CASH 8 420

12 ACCOUNT RECEIVABLE 14 000

SERVICE FEE EARNED 14 000

15 CASH 2 400

ACCOUNT RECEIVABLE 2 400

17 REPAIR EXPENSE 1 500

CASH 1 500

20 ADVERTISING EXPENSE 1 750

CASH 1 750

22 CASH 2 400

ACCOUNT RECEIVABLE 2 400

28 CASH 7 600

ACCOUNT RECEIVABLE 7 600

SERVICE FEE EARNED 15 200

29 RENT EXPENSE 15 000

CASH 15 000

UTILITIES EXPENSE 7 200

ACCOUNT PAYABLE 7 200

30 DY, WITHDRAWAL 3 000

COMPUTER SUPPLIES 3000

31 SALARIES EXPENSE 5 000

CASH 5 000

239 090 239 090

 General Ledger

CASH

DATE EXPLANATION DR CR

OCT 1 Initial investment P50 000

8 Full payments for computer supplies 8 420

15 Cash received from easy internet 2 400

17 Payment for repairing the damage on the computer 1 500

20 Paid advertising brochures 1 750

22 Cash received from easy internet for the remaining balance 2 400

28 Consulting service performed 7 600

29 Rent payment for the month 15 000

31 Payment for a 20-day work done 5 000

62 400 31 670

= 30 730

COMPUTER SUPPLIES
DATE EXPLANATION DR CR

OCT 3 Purchased computer supplies 8 420

30 Withdrawal of computer supplies 3000

= 5 420

DY, Capital
DATE EXPLANATION DR CR

OCT 1 Initial investment 150 000

 DY, Withdrawal
DATE EXPLANATION DR Cr

Oct 30 Withdrawal from supplies 3000

Computer System
DATE EXPLANATION DR CR

Oct 1 Initial investment 20 000

Accounts Payable
DATE EXPLANATION DR CR

Oct 3 Purchased computer supplies on credit 8 420

8 Full payment for the computer supplies 8 420

29 Unpaid utilities 7 200

7 200

Accounts Receivables
DATE EXPLANATION DR CR

Oct 6 Billed easy internet 4 800

12 Billed fast internet 14 000

15 Cash received from easy internet 50% on account 2 400

22 Cash received from the easy internet to apply the balance 2 400

28 Billed IMC company 7 600

26 400 4 800

21 600
 Service Fee Earned
DATE EXPLANATION DR CR

Oct 6 Service performed installing new web server 4 800

12 Computer system installation 14 000

28 Consulting service performed 15 200

34 000

Repair Expense
DATE EXPLANATION DR CR

Oct 17 Repair the damage on the computer equipment 1 500

Advertising Expense
DATE EXPALATION DR CR

OCT 20 Paid advertising expense 1 750

Rent Expense
DATE EXPLANATION DR CR

Oct 29 Rent for the month 15 000

Utilities Expense
DATE EXPLANATION DR CR

OCT 29 Utilities bill 7 200

Salaries Expense
DATE EXPLANATION DR CR

Oct 31 Wages for 20-day work done 5 000

 Trial Balance
ACCOUNTS DR CR

CASH P30 730

ACCOUNT RECEIVABLE 21 600

COMPUTER SYSTEM 20 000

OFFICE EQUIPMENT 80 000

COMPUTER SUPPLIES 5 420

ACCOUNTS PAYABLE 7 200

DY, CAPITAL 150 000

DY, WITHDRAWAL 3 000

SERVICE FEE EARNED 34 000

REPAIR EXPENSE 1 500

ADRVETISING EXPENSE 1 750

RENT EXPENSE 15 000

UTILITIES EXPENSE 7 200

SALARIES EXPENSE 5 000

191 200 191 200

 INCOME STATEMENT
BUSINESS SOLUTION COMPANY
FOR THE MONTH ENDING OCTOBER 31, 2022

SERVICE FEE EARNED P34 000

LESS:

REPAIR EXPENSE 1 500

ADVERTISING EXPENSE 1 750

RENT EXPENSE 15 000

UTILITIES EXPENSE 7 200

SALARIES EXPENSE 5 000

TOTAL 30 450 34 0000

NET INCOME 3 550

BUSINESS SOLUTION COMPANY

STATEMENT OF CHANGES IN OWNER’S EQUITY
FOR THE PERIOD OCTOBER 1-31, 2022

DY, CAPITAL 150 000

ADD NET INCOME 3 550

TOTAL 153 550

LESS DY, DRAWING 3 000

DY, CAPITAL END. 150 550

 BUSINESS SOLUTION COMPANY
STATEMENT OF FINANCIAL POSITION
AS OF OCTOBER 31, 2022

ASSETS LIABILITIES AND OWNER’S EQUITY

CASH P30 730 DY, CAPITAL 150 550
COMPUTER SUPPLIES 20 000 ACCOUNT PAYABLE 7 200
ACCOUNT RECEIVABLE 21 600 157 750
OFFICE EQUIPMENT 80 000
COMPUTER SUPPLIES 5 420
157 750

CHART OF ACCOUNTS

CURRENT ASSETS- 1-3 REVENUE- 40

1. CASH 40. SERVICE FEE EARNED
2. COMPUTER SUPPLIES
3. ACCOUNTS RECEIVABLES CURRENT LIABILITIES- 20
EQUITY- 30-31 20. ACCOUNT PAYABLE
30. DY, CAPITAL
31. DY, WITHDRAWAL EXPENSES- 50-55
PLANT, PROPERTY, AND EQUIPMENT- 11-12 50. SUPPLIES EXPENSE
11. COMPUTER SYSTEM 51. REPAIR EXPENSE
12. OFFICE EQUIPMENT 52. ADVERTISING EXPENSE
53. RENT EXPENSE
54. UTILITIES EXPENSE
55. SALARIES EXPENSE