MACUD, SITTIE HAKIMA U.

BSA - 1B

1. GENERAL JOURNAL

General Journal
Date Account Title and Explanation PR Credit Debit
March 1 Cash 10,000
James Reid Capital 10,000
Cast Investment Capital of Mr. James Reid

March 5 Registration and License Expense 370

Cash 370
Pre- Organization Expense

March 6 Furniture and Fixture 3,000

Cash 3000
Purchased Furniture and Fixture

March 7 Service Equipment 16,000

Cash 8,000
Accounts Payable 8,000
Purchased Service Equipment

March 7 Service Supplies 1,500

Accounts payable 1,500
Purchased Serviced Supplies

March 9 Cash 1,900

Service Revenue 1,900
The company received for services rendered

March 12 Account Receivable 4,250

Service Revenue 4,250
Rendered services account with the agreement
customer

March 14 Cash 3,200

 Owners Equity 3,200
Additional Investment of Mr.Reid

March 15 Account Receivable 3,400

Service Revenue 3,400
Service provided by a Large Corporation

March 22 Cash 4,250

Account Receivable 4,250
Collected customer rendered on March 7

March 23 Accounts Payable 500

Cash 500
Partial Payment of Account Receivable

March 25 Reid Drawing 7,000

Cash 7,000
The owner withdrew cash for emergency need

March 29 Rent Expense 1,500

Cash 1,500
The Company Paid Rent

March 30 Cash 12,000

Loan Payables 12,000
Bank Load of Owner's

March 31 Salaries Expense 3,500

Cash 3,500

Paid the month-end Salaries Expenses For employees

2. T-ACCOUNTS

Cash

March 1 10,000.00 March 5 370.00

9 1,900.00 6 3,000.00
 14 3,200.00 7 8,000.00

22 4,250.00 23 500.00

30 12,000.00 25 7,000.00

29 1,500.00

31 3,500.00

31,350 23,870.00

Balance 7,480.00

Accounts Receivable

March 12 4,250.00 March 22 4,250.00

15 3,400.00

7,650.00

Balance 3,400.00

Supplies

March 7 1,500.00

Furnitures and Fixtures

March 6 3,000.00

Equipments

March 7 16,000.00

Accounts Payable

March 23 500.00 March 7 8,000.00

7 1,500.00

9,500.00

Balance 9,000.00
 Loan Payable

March 30 12,000.00

Reid,Capital

March 1 10,000.00

14 3,200.00

Balance 13,200.00

Reid, Drawing

March 25 7,000.00

Service Income

March 9 1,900.00

12 4,250.00

15 3,400.00

Balance 9,550.00

Registration and Licensing Expense

March 5 370.00

Rent Expense

March 29 1,500.00

Salaries Expense

March 31 3,500.00

3. TRIAL BALANCE

Reid Electronic Repair Services

Trial Balance
March 31, 2023
 Account Name Debit Credit

Cash 7,480.00

Account Receivable 3,400.00

Supplies 1,500.00

Furnitures and Fixtures 3,000.00

Equipment 16,000.00

Accounts Payable 9,000.00

Loans Payable 12,000.00

Reid, Capital 13,200.00

Reid, Drawing 7,000.00

Service Income 9,550.00

Registration and Licensing 370.00

Expense

Rent Expense 1,500.00

Salaries Expense 3,500.00

Total P 43,750.00 P 43,750.00

4. STATEMENT OF FINANCIAL POSITION

Reid Electronic Repair Services

Statement of Financial Position
March 31, 2023

Assets

Cash P 7,480.00

Account Receivable 3,400.00

Supplies 1,500.00

Furnitures and Fixtures 3,000.00

Equipment 16,000.00

Total P 31,380.00
 Liabilities and Owner’s Equity

Accounts Payable P 9,000.00

Loans Payable 12,000.00

Reid, Capital 17,380.00

Reid, Drawing (7,000.00)

Total P 31,380.00

5. STATEMENT OF FINANCIAL PERFORMANCE

Reid Electronic Repair Service

Statement of Financial Performance
For the month Ended, March 31, 2023
Service Income 9,550.00

Less:Operating Expense
Registration and Lincense Expense 370.00
Rent Expense 1,500.00
Salaries Expense 3,500.00 5,370.00
Net Income 4,180.00

6. STATEMENT OF OWNER’S EQUITY

Reid Electronic Repair Service

Statement of Owner's Equity
For the month Ended, March 31, 2023
Reid, Capital, March 1, 2023 ₱10,000.00

Add:Additional Investment 3,200.00

Net Income 4,180.00
Total ₱17,380.00
Less:Reid Drawing -7,000.00
Reid, Capital, March 31,2023 ₱17,380.00
 7. STATEMENT OF CASH FLOWS

Reid Electronic Repair Service

Statement of Cash Flow
For the Month March 31,2023
CASH FLOW OPERATING
Cash Received from Customer 6,150.00
Cash Paid from Registration and License -370.00
Cash Paid from Rent -1,500.00
Cash Paid from Employees -3,500.00
NET CASH FROM OPERATING ACTIVITIES 780.00

CASH FLOW INVESTING ACTIVITIES

Owner Investment 10,000.00
Purchased Furnitures and Fixture -3,000.00
Purchased Service Equipment -8,000.00
Purchased Investment of Owner 3,200.00
NET CASH FLOW INVESTING ACTIVITIES 2,200.00

CASH FROM FINANCING ACTIVITIES

Payment on Accounts -500.00
Withdrawals of Owner -7,000.00
Bank Load of Owner 12,000.00
NET CASH FROM FINANCING ACTIVITIES 4,500.00
NET INCREASE (DECREASE) IN CASH 7,480.00

BEGINNING CASH 0
ENDING CASH 7,480.00