AIKO MAE A.

RIVERA

BSA-1

GENERAL JOURNAL

April 04

Capital 10,000

Accounts Receivable 1,500

Supplies 1,250

Office Equipment 7,500__

Total Capital 20,250

DATE PARTICULAR DEBIT CREDIT

April 04 Cash P10000
Accounts Receivable P1500
Supplies P1250
Office Equipment P7500
Owners Capital P20250
To record assets.

04 Prepaid P4500
Cash P4500
To record 3 months rent.

04 Insurance Expense P1800

Cash P1800
To record premium on property and
casualty insurance policies.
06 Cash P3000
Unearned Income P3000
To record advance payment for
services.
07 Furniture P1800
LCG Marketing Company P1800
To record additional office furniture.
08 Cash P800
Accounts Receivable P800
To record cash received from clients.

11 Accounts Receivable P120

 Cash P120
To record newspaper advertisement.
12 LCG Marketing Company P800
Cash P800
15 Service Income P2250
Cash P2250

15 Salaries Expense P400

Cash P400
15 Cash P3175
Income P3175

18 Supplies P750
Cash P750

22 Accounts Receivable P1100

Fee Income P1100

22 Cash P1850
Income P1850

25 Cash P1600
Accounts Receivable P1600

27 Salary Expense P400

Cash P400

28 Telephone Expense P130

Cash P130

29 Electricity Expense P200

Cash P200

29 Cash P2050
Fee Income P2050

29 Accounts Receivable P1000

Service Income P1000

29 Salary Expense P4500

Cash P4500
General Journal ( Adjusting Journal Entries)

Date Apr Accounts Title Debit Credit

31
1 Insurance Expense P150
Prepaid Insurance P150
To record Insurance expired in April.

2 Supplies Expense P1,020

Supplies P1,020
To record supplies on hand from total supplies.

3 Depreciation Expense P500

Accumulated Depreciation P500
To record depreciation for office equipment in
April.

4 Salaries Expense P20

Salaries payable P20
To record accured receptionist salary on April 30.

5 Rent Expense P1,500

Prepaid Rent P1,500
To record rent expired.

6 Unearned Revenue P2,000

Service Revenue P2,000
To record revenue for which client paid in
advance.

Cash Prepaid Insurance

 10,000 4,500 1,800
3,000 1,800 150
800 120
3,175 800
1,850 400 End bal: P 1,650
1,600 750
2,050 400
130
200
4,500

End bal: P 8,875

Office Equipment
7,500
1,800

End bal: P 9,300

Accounts Receivable
1,500 800
2,250 1,600
1,100 Accumulated Depri
1,000
500
End bal: 3,450
End bal: 500
Supplies

1,250
750
980

End bal: 1,020 Accounts payable

800 1,800

End bal:
1,000
 Prepaid Rent

4,500
1,500

End bal: 3,000

Salaries payable

20

End bal:
Contributed Capital 20

20,250

End bal: 20,250

Unearned
Revenue
3,000
2,000

End bal: 1,000

Retained earnings
Insurance
Expense
0
150
Service Revenue End bal: 150
2,250
3,175
1,100
1,850
2,050
1,000
2,000
End bal:
13, 425
 Depri Exp

500

End bal: 500

Rent Exp
Supplies Exp
1,500
980
End bal: 1,500
End bal: 980

Salaries Exp
Telephone Exp
400
400 130
4,500
20
End bal: 130
End bal: 5,320

Utilities Exp Advertising Exp

200 120

End bal: 120

 Inc.
Adjusted Trial balance
For The Year Ended December 31, 20**

Debit Credit
Cash P 8,875
Accounts Receivable 3,450
Prepaid Rent 3,000
Prepaid Insurance 1,650
Supplies 1,020
Office Equip. 9,300
Accumulated Depreciation, Equipment 500
Accounts payable 1,000
Salaries Payable 20
Unearned revenue 1,000
Contributed Capital 20,250
Retained Earnings 0
Dividends Declared 0
Service Revenue 13,425
Insurance Expense 150
Depreciation Expense 500
Rent Expense 1,500
Supplies Expense 980
Salaries Expense 5,320
Telephone Exp 130
Utilities Exp 200
Advertising Exp 120
P 36,195 P 36,195
Income Statement
For the Year Ended April 30, 20**

Revenue
Service Income P 13,425
Total Revenues 13,425

Expenses
 Insurance Exp 150
Depreciation Exp 500
Rent Exp 1,500
Supplies Exp 980
Salaries Exp 5,320
Telephone Exp 130
Utilities Exp 200
Advertising Exp 120
Total Expense 8,900

Net Income (Loss) P 4,525

Inc.
Statement of Retained Earnings
For the Year Ended April 30, 20**

Beg Retained Earnings, 4/1/10 P0

Add: Net Income 4,525
Less: Dividends 0
End Retained Earnings, 4/30/10 4,525

Balance Sheet
At April 30, 2010
Assets
Current Assets P 8,875
Cash 3,450
 Accounts Receivable 3,000
Prepaid Insurance 1, 650
Supplies 1,020
Total Current Assets P 17,995
Property Plant & Equipment
Office Equipment 9,300
Accumulated Depreciation (500)
Property Plant & Equipment, Net 8,800
Total Assets 26,795

Liabilities & Stockholders Equity

Liabilites
Current Liabilities
Accounts Payable 1,000
Salaries 20
Total Current Liabilities 1,020
Unearned Revenue 1,000
Total liabilities 2,020

Stockholders Equity
Contributed Capital 20,250
Retained Earnings 4,525
Total Stockholders Equity 24,775

Total Liabilities & Stockholders Equity P 26,795

 Closing Journal Entries

Date Account Title Debit Credit

#1 Insurance Exp 150
Depreciation Exp 500
Rent Exp 1,500
Supplies Exp 980
Salaries Exp 5,320
Telephone Exp 130
Utilities Exp 200
Advertising Exp 120
Retained Earnings 4,525
( To close Revenues and Expenses to retained
Earnings)

Note: we did not record any dividends………..

Inc.
Post-Closing Trial Balance
For the Year Ended December 31, 20**

Debit Credit
Cash P 8,875
Accounts Receivable 3,450
Prepaid Rent 3,000
Prepaid Insurance 1,650
Supplies 1,020
Office Equipment 9,300
Accumulated Depreciation Equipment 500
Accounts payable 1,000
Salaries Payable 20
Unearned Revenue 1,000
Contributed Capital 20,250
Retained Earnings 4,525
Dividends Declared 0
Service Revenue 0
Insurance Expense 0
Depreciation Expense 0
Rent Expense 0
Supplies Exp 0
Salaries Exp
Telephone Exp
Utilities Exp
Advertising Exp
P 27, 295 P 27,295