A.

Elizabteh Zalvador Graphic Works

Date Particulars PR DEBIT

1-Dec Equipment (Office Equipment) 150 ₱41,200.00
Accounts Payable 210
Bought Office Equipment on Account

3 Equipment (Photographic Equipment) 160 ₱62,000.00

Zalvador, Capital 310
Invested Personal Photographic Equipment

5 Rent Expense 510 ₱5,000.00

Cash 110
Paid Rent for the Month

6 Supplies 130 ₱3,450.00

Cash 110
Bought Supplies on Cash

7 Cash 110 ₱25,000.00

Unearned Revenue 230
Received Advanced Payment from Customer

10 Prepaid Insurance 140 ₱8,200.00

Cash 110
Acquired Insurance for Two Years

14 Cash 110 ₱29,850.00

Service Fees 410
Received Cash for Graphic Services Rendered

15 Salary Expense 520 ₱5,000.00

Cash 110
Paid Salaries for Part Time Assistants

20 Telephone Expense 530 ₱9,360.00

Cash 110
Paid Bill for Telephone Service

21 Notes Payable 210 ₱5,200.00

Cash 110
Paid Accounts to Manadluyong Equipment

28 Zalvador, Withdrawal 320 ₱1,000.00

Cash 110
 Zalvador Withdrew Cash for Personal Use

₱195,260.00

ADJUSTING JOURNAL ENTRY

A. Insurance Expense 550 ₱341.67
Prepaid Expense 140
Acquired Insurance for 2 years

B. Supplies Expense 540 ₱17,650.00

Supplies 130
Bought supplies on cash

C. Salaries Expense 520 ₱6,000.00

Salaries Payable 530
Paid Salaries for Part Time Assistants

D. Depriciation Equipment 560 ₱433.33

Accumulated Depriciation (Equipment) 165
Invested Photographic Equipment
 GJ _

CREDIT

₱41,200.00

₱62,000.00

₱5,000.00

₱3,450.00

₱25,000.00

₱8,200.00

₱29,850.00

₱5,000.00

₱9,360.00

₱5,200.00

₱1,000.00
₱195,260.00

₱341.67

₱17,650.00

₱6,000.00

₱433.33
 CASH

Date Particulars F DEBIT

30-Nov Remaining Cash Balance of November 30,2016 85,000
5-Dec Paid Rent for the month
6 Bought Supplies on Cash
7 Received Advanced Payment from Customer 25,000
10 Acquired Insurance for Two Years
14 Received Cash for Graphic Services Rendered 29,850
15 Paid Salaries for Part Time Assistants
20 Paid Bill for Telephone Service
21 Paid Accounts to Manadluyong Equipment
28 Zalvador Withdrew Cash for Personal Use

ACCOUNTS RECEIVABLE
30-Nov Accounts Receivable 20,000

SUPPLIES
30-Nov Remaining Supplies of November 30,2016 16,000
6-Dec Bought Supplies on Cash 3,450
B Adjustment for supplies

PREPAID INSURANCE
10-Dec Acquired Insurance for two years 8,200
A Adjustment for prepaid Insurance

OFFICE EQUIPMENT
1-Dec Bought Office Equipment on Account 41,200

PHOTOGRAPHIC EQUIPMENT
3-Dec Invested Personal Photographic Equipment 62,200

ACCUMULATED DEPRICIATION
D (Adjustment) Invested Photographic Equipment

ACCOUNTS PAYABLE
30-Nov Remaining Accounts Payable of November 30,2016
 1-Dec Bought Office Equipment on Account
21 Paid Accounts to Manadluyong Equipment 5,200

NOTES PAYABLE
30-Nov Remaining Notes Payable of November 30,2016

UNEARNED REVENUE
7-Dec Received Advanced Payment from Customer

SALARIES PAYABLE
C (Adjustment) Paid Salaries for Part Time Assistants

ZALVADOR, CAPITAL
30-Nov Remaining Capital of November 30,2016
3-Dec Invested Personal Photographic Equipment

ZALVADOR, WITHDRAWAL
28-Dec Zalvador Withdrew Cash for Personal Use 1,000

SERVICE FEES
14-Dec Received Cash for Graphic Services Rendered

RENT EXPENSE
5-Dec Paid Rent for the Month 5,000

SALARIES EXPENSE
15-Dec Paid Salaries for Part Time Assistants 5,000
C (Adjustment) Paid Salaries for Part Time Assistants 6,000

UTILITIES EXPENSE (TELEPHONE)

20-Dec Paid Bill for Telephone Service 9,360

INSURANCE EXPENSE
A (Adjustment) Acquired Insurance for 2 years 341.67
 SUPPLIES EXPENSE
B (Adjustment) Bought supplies on cash 17,650

DEPRECIATION EXPENSE
D (Adjustment) Invested Photographic Equipment 433.33
 110

CREDIT DEBIT CREDIT

85,000
5,000 80,000
3,450 76,550
101,550
8,200 93,350
123,200
5,000 118,200
9,360 108,840
5,200 103,640
1,000 102,640

120

20,000

130

16,000
19,450
17,650 1,800

140

8,200
341.67 7,858.33

150

41,200.00

160

62,000.00

170

433.33 433.33

210

8,900 8,900.00
 41,200 50,100
44,900.00

220

5,000 5,000

230

25,000 25,000

240

6,000 6,000

310

107,100 107,100
62,000 169,100

320

1,000

410

29,850 29,850

510

5,000

520

5,000
11,000

530

9,360

540

341.67
 550

17,650

560

433.33

TOTAL: 280,283.33 280,283.33

 Unadjusted Trial Balance
Acct # ACCOUNT TITLE
DEBIT
110 Cash ₱102,640.00
120 Accounts Receivable ₱20,000.00
130 Supplies ₱19,450.00
140 Prepaid Insurance ₱8,200.00
150 Office Equipment ₱41,200.00
160 Photographic Equipment ₱62,000.00
170 Accumulated Depriciation (Photographic Equipment)
210 Accounts Payable
220 Notes Payable
230 Unearned Revenue
240 Salaries Payable
310 Zalvador, Capital
320 Zalvador, withdrawal ₱1,000.00
410 Service Fees/Income
510 Rent Expense ₱5,000.00
520 Salaries Expense ₱5,000.00
530 Utilities Expense (Telephone) ₱9,360.00
540 Insurance Expense
550 Supplies Expense
560 Depreciation Expense

Total: ₱273,850.00
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
CREDIT DEBIT CREDIT DEBIT CREDIT
₱102,640.00
₱20,000.00
₱17,650.00 ₱1,800.00
₱341.67 ₱7,858.33
₱41,200.00
₱62,000.00
₱433.33 ₱433.33
₱44,900.00 ₱44,900.00
₱5,000.00 ₱5,000.00
₱25,000.00 ₱25,000.00
₱6,000.00 ₱6,000.00
₱169,100.00 ₱169,100.00
₱1,000.00
₱29,850.00 ₱29,850.00
₱5,000.00
₱6,000.00 ₱11,000.00
₱9,360.00
₱341.67 ₱341.67
₱17,650.00 ₱17,650.00
₱433.33 ₱433.33

₱273,850.00 ₱24,425.00 ₱24,425.00 ₱280,283.33 ₱280,283.33

 Income Statement Balance Sheet Closing Entries
DEBIT CREDIT DEBIT CREDIT DEBIT
Closing Entries
CREDIT
 A. Company
Income Statement
For the Month Ended
 A. Company
Statement to Changes in Owner's Equity
For the Month Ended
 A. Company
Statement of Financial Position
As of
 A. Company
STatement of Cash Flow
For the Month Ended
 A. Company
Post-Closing Trial Balance
For the Month Ended