Voltaire Enterprises

Working Papers
For the Year Ended December 31, 2020
Balances Adjusted Statement of Statement of Statement of
January 1, 2020 Transactions Trial Balance Adjustments Trial Balance Comprehensive Income Shareholders' Equity Financial Position
Account Titles Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash ( 24,600) 1. ( 33,000) 7. ( 32,200)
2. ( 6,300) 8. ( 3,200)
4. ( 36,000) 9. ( 188,200)
5. ( 267,000) ( 143,300) ( 143,300) ( 143,300)
Accounts Receivable ( 45,500) 3. ( 276,000) 5. ( 267,000)
11.( 1,300) ( 53,200) ( 53,200) ( 53,200)
Allowance for Doubtful Accounts ( 1,500) 11.( 1,300) ( 200) 3. ( 3,300) ( 3,500) ( 3,500)
Supplies ( 4,400) 6. ( 26,100) ( 30,500) 1. ( 24,600) ( 5,900) ( 5,900)
Land ( 40,000) ( 40,000) ( 40,000) ( 40,000)
Buildings ( 130,000) ( 130,000) ( 130,000) ( 130,000)
Accumulated Depreciation ( 20,000) ( 20,000) 4. ( 4,000) ( 24,000) ( 24,000)
Accounts Payable ( 25,600) 7. ( 32,200) 6. ( 26,100) ( 19,500) ( 19,500) ( 19,500)
Share Capital-Preference, P20 par 1. ( 30,000) ( 30,000) ( 30,000) ( 30,000)
Share Premium-Preference 1. ( 3,000) ( 3,000) ( 3,000) ( 3,000)
Share Capital-Ordinary, P1 par ( 50,000) 2. ( 900) ( 50,900) ( 50,900) ( 50,900)
Share Premium-Ordinary 2. ( 5,400) ( 5,400) ( 5,400) ( 5,400)
Retained Earnings, January 1, 2020 ( 147,400) ( 147,400) ( 147,400) ( 147,400)
( 244,500) ( 244,500)
Service Revenue 3. ( 276,000) ( 276,000) 2. ( 27,000) ( 303,000) ( 303,000)
Unearned Revenue 4. ( 36,000) ( 36,000) 2. ( 27,000) ( 9,000) ( 9,000)
Treasury Shares 8. ( 3,200) ( 3,200) ( 3,200) ( 3,200)
Operating Expenses 9. ( 188,200) ( 188,200) 1. ( 24,600)
3. ( 3,300)
4. ( 4,000) ( 220,100) ( 220,100)
Cash Dividend 10.( 27,250) ( 27,250) ( 27,250) ( 27,250)
Dividends Payable 10.( 27,250) ( 27,250) ( 27,250) ( 27,250)
( 220,100)
Income Tax Expense - 30% of P82,900 ( 24,870) ( 24,870)
Income Tax Payable ( 24,870) ( 24,870)
( 896,550) ( 896,550) ( 615,650) ( 615,650) ( 58,900) ( 58,900) ( 647,820) ( 647,820) ( 244,970) ( 303,000) ( 30,450)
Net Income ( 58,030) ( 58,030)
( 303,000) ( 303,000) ( 30,450) ( 294,730)
Total Shareholders' Equity ( 264,280) ( 264,280)
( 294,730) ( 294,730) ( 372,400) ( 372,400)