NUMBER ANSWER NUMBER ANSWER NUMBER ANSWER

1 F 11 F 21 F
2 F 12 F 22 F
3 T 13 T 23 F
4 T 14 T 24 T
5 T 15 T 25 T
6 T 16 T
7 T 17 T
8 T 18 T
9 F 19 T
10 T 20 T
NUMBER ANSWER NUMBER ANSWER
1 C 11 B
2 B 12 D
3 A
4 B
5 B
6 A
7 A
8 D
9 C
10 B
General Journal

Journal # 1
Date Particulars PR Debit Credit
20x1
Jan 2 Cash 101 200,000.00
Owner's Equity 301 200,000.00
To record initial investment

Jan 3 Office Equipment 103 35,000.00

Accounts Payable 201 35,000.00
To record office equipment on account

Jan 4 Office Equipment 103 12,000.00

Cash 101 12,000.00
To record office equipment

Jan 5 Accounts Payable 201 15,000.00

Cash 101 15,000.00
To record payment to supplier (Jan 3)

Jan 15 Cash 101 25,000.00

Professional Fees 401 25,000.00
To record professional fee

Jan 17 Drawing 302 5,000.00

Cash 101 5,000.00
To record withdrawal

Jan 24 Accounts Receivable 102 10,000.00

Professional Fees 401 10,000.00
To record receivable professional fee

Jan 25 Direct Charges - Salaries, Wages, and Benefits 501 6,000.00

Cash 101 6,000.00
To record salaries expense

Jan 31 Cash 101 7,000.00

Accounts Receivable 102 7,000.00
To record payment received from clients

Journal # 2
Date Particulars PR Debit Credit
 20x1
Jan 31 Expense - Communication, Light, and Water 503 700.00
Cash 101 700.00
To record telephone bill

Jan 31 Direct Charges - Rental 502 9,000.00

Cash 101 9,000.00
To record office rent for the month

324,700.00 324,700.00
General Ledger
CASH

Date Particulars PR Debit

20X1
Jan 2 Initial Investment J1 200,000.00
4 Office Equipment J1
5 Office Equipment J1
15 Professional Fees J1 25,000.00
17 Withdrawal J1
25 Salaries Expense J1
31 Professional Fees J1 7,000.00
31 Telephone Bill J2
31 Office Rent J2

ACCOUNTS RECEIVABLE

Date Particulars PR Debit

20x1
Jan 24 Professional Fees J1 10,000.00
31 Professional Fees J1

OFFICE EQUIPMENT

Date Particulars PR Debit

20x1
Jan 3 Office Equipment J1 35,000.00
4 Office Equipment J1 12,000.00

ACCOUNTS PAYABLE

Date Particulars PR Debit

20x1
Jan 3 Office Equipment J1
5 Office Equipment J1 15,000.00

OWNER'S EQUITY

Date Particulars PR Debit

20x1
Jan 2 Initial Investment J1

DRAWING
 Date Particulars PR Debit
20x1
Jan 17 Withdrawal for Personal Use J1 5,000.00

PROFESSIONAL FEES

Date Particulars PR Debit

20x1
Jan 15 Professional Fees J1
24 Professional Fees J1

DIRECT CHARGES - SALARIES, WAGES, AND BENEFITS

Date Particulars PR Debit

20x1
Jan 25 Salaries Expense J1 6,000.00

DIRECT CHARGES - RENTAL

Date Particulars PR Debit

20x1
Jan 31 Office Rent J2 9,000.00

EXPENSE - COMMUNICATION, LIGHT, AND WATER

Date Particulars PR Debit

20x1
Jan 31 Telephone Bill J2 700.00

324,700.00
 Trial Balance
Acc # 101.00
Balance Account No. Account Title
Credit Debit Credit 101 Cash
102 Accounts Receivable
200,000.00 103 Office Equipment
12,000.00 188,000.00 201 Accounts Payable
15,000.00 173,000.00 301 Owner's Equity
198,000.00 302 Drawing
5,000.00 193,000.00 401 Professional Fees
6,000.00 187,000.00 501 Direct Charges - Salaries, Wages, and Benefits
194,000.00 502 Direct Charges - Rental
700.00 193,300.00 503 Expense - Communication, Light, and Water
9,000.00 184,300.00

Acc # 102.00
Balance
Credit Debit Credit

10,000.00
7,000.00 3,000.00

Acc # 103.00
Balance
Credit Debit Credit

35,000.00
47,000.00

Acc # 201.00
Balance
Credit Debit Credit

35,000.00 35,000.00
20,000.00

Acc # 301.00
Balance
Credit Debit Credit

200,000.00 200,000.00

Acc # 302.00
 Balance
Credit Debit Credit

5,000.00

Acc # 401.00
Balance
Credit Debit Credit

25,000.00 25,000.00
10,000.00 35,000.00

Acc # 501.00
Balance
Credit Debit Credit

6,000.00

Acc # 502.00
Balance
Credit Debit Credit

9,000.00

Acc # 502.00
Balance
Credit Debit Credit

700.00

324,700.00
 Account Title Debit Credit
184,300.00
3,000.00
47,000.00
20,000.00
200,000.00
5,000.00
35,000.00
ies, Wages, and Benefits 6,000.00
9,000.00
ation, Light, and Water 700.00
255,000.00 255,000.00
 ASSETS
Particulars/ Accounts Office
Cash + + Land + Building +
Transactions Receivable Equipment
Balance ₱ 577,000.00 ₱ 50,000.00 ₱ 500,000.00 ₱ 400,000.00 ₱ 100,000.00
a
b -120,000.00
c 80,000.00
d -25,000.00
e 70,000.00
f -75,000.00
g 50,000.00 -50,000.00
h -17,000.00
Total ₱ 470,000.00 ₱ 70,000.00 ₱ 500,000.00 ₱ 400,000.00 ₱ 100,000.00
1,548,000.0
 = LIABILITIES + Owner's Equity
Office Notes Accounts
+ = + + Owner's Equity
Supplies Payable Payable
₱ 4,000.00 ₱ 300,000.00 ₱ 120,000.00 ₱ 1,211,000.00
4,000.00 4,000.00
-120,000.00
80,000.00
-25,000.00
70,000.00
-75,000.00

-17,000.00
₱ 8,000.00 ₱ 300,000.00 ₱ 4,000.00 ₱ 1,244,000.00
1,548,000.00 = 1,548,000.00
General Journal

Journal # 1
Date Particulars PR Debit Credit
20xx
May 1 Cash 101 70,000.00
Equity, Vicente Tolete 301 70,000.00
To record initial investment

1 Deposit for Rent 105 15,000.00

Cash 101 15,000.00
To record office rent deposit

2 Computer Set 106 30,000.00

Cash 101 15,000.00
Accounts Payable 201 15,000.00
To record computer set

2 Prepaid Insurance 104 2,000.00

Cash 101 2,000.00
To record 1- year insurance

7 Computer and Audio/Video Parts 103 8,250.00

Cash 101 8,250.00
To record compuer and audio/video parts

14 Cash 101 15,000.00

Service Fee 401 15,000.00
To record service fee

15 Direct Charges - Salaries, Wages, and Benefits 501 5,000.00

Cash 101 5,000.00
To record salary for assistant

17 Accounts Payable 201 15,000.00

Cash 101 15,000.00
To record payment to ComputerWorld

21 Accounts Receivable 102 3,000.00

Service Fee 401 3,000.00
To record service rendered receivable
Journal # 2
Date Particulars PR Debit Credit
 20xx
May 23 Cash 101 3,000.00
Accounts Receivable 102 3,000.00
To record payment received from client

24 Expense - Communication, Light and Water 503 2,200.00

Cash 101 2,200.00
To record electricity bill

28 Drawing, Vicente Tolete 302 5,000.00

Cash 101 5,000.00
To record withdrawal for personal use

31 Cash 101 20,000.00

Service Fee 401 20,000.00
To record service rendered

31 Direct Charges - Salaries, Wages, and Benefits 501 5,000.00

Cash 101 5,000.00
To record salary for assistant

31 Direct Charges - Rental 502 5,500.00

Cash 101 5,500.00
To record rent for the month

24 Expense - Communication, Light and Water 503 2,200.00

Cash 101 2,200.00
To record electricity bill

206,150.00 206,150.00
General Ledger
CASH

Date Particulars PR Debit

20xx
May 1 Initial Investment J1 70,000.00
1 Office Rent Deposit J1
2 One Computer Set J1
2 One-Year Insurance Policy J1
7 Computer and Audio/Video Parts J1
14 Service Fee J1 15,000.00
15 Salaries Expense for Assistant J1
17 Payment to ComputerWorld J1
23 Payment Received from Clients J2 3,000.00
24 Electricity Bill J2
28 Withdrawal for Personal Use J2
31 Service Rendered J2 20,000.00
31 Salaries Expense for Assistant J2
31 Rent for the Month J2
31 Telephone Bill J2

ACCOUNTS RECEIVABLE

Date Particulars PR Debit

20xx
May 21 Service Fee J1 3,000.00
23 Payment Received from Clients J2

COMPUTER AND AUDIO/VIDEO PARTS

Date Particulars PR Debit

20xx
May 7 Computer and Audio/Video Parts J1 8,250.00

PREPAID INSURANCE

Date Particulars PR Debit

20xx
May 2 One-Year Insurance Policy J1 2,000.00

DEPOSIT FOR RENT

Date Particulars PR Debit

 20xx
May 1 Office Rent Deposit J1 15,000.00

COMPUTER SET

Date Particulars PR Debit

20xx
May 2 One Computer Set J1 30,000.00

ACCOUNTS PAYABLE

Date Particulars PR Debit

20xx
May 2 One Computer Set J1
17 One Computer Set J1 15,000.00

EQUITY, VICENTE TOLETE

Date Particulars PR Debit

20xx
May 1 Initial Investment J1

DRAWING, VICENTE TOLETE

Date Particulars PR Debit

20xx
May 28 Withdrawal for Personal Use J2 5,000.00

SERVICE FEE

Date Particulars PR Debit

20xx
May 14 Service Fee J1
21 Service Fee J1
31 Service Rendered J2

DIRECT CHARGES - SALARIES, WAGES, AND BENEFITS

Date Particulars PR Debit

20xx
May 15 Salaries Expense for Assistant J1 5,000.00
31 Salaries Expense for Assistant J2 5,000.00
 DIRECT CHARGES - RENTAL

Date Particulars PR Debit

20xx
May 31 Rent for the Month J2 5,500.00

EXPENSE - COMMUNICATION, LIGHT, AND WATER

Date Particulars PR Debit

20xx
May 24 Electricity Bill J2 2,200.00
31 Telephone Bill J2 1,000.00

204,950.00
 Trial Balance
Acc # 101.00
Balance SIRANG COMPUTER AT AUDIO VIDEO MO M
Credit Debit Credit Trial Balance
May 31, 20xx
70,000.00
15,000.00 55,000.00 Account No. Account Title
15,000.00 40,000.00 101 Cash
2,000.00 38,000.00 102 Accounts Receivable
8,250.00 29,750.00 103 Computer and Audio/Video Parts
44,750.00 104 Prepaid Insurance
5,000.00 39,750.00 105 Deposit for Rent
15,000.00 24,750.00 106 Computer Set
27,750.00 201 Accounts Payable
2,200.00 25,550.00 301 Equity, Vicente Tolete
5,000.00 20,550.00 302 Drawing, Vicente Tolete
40,550.00 401 Service Fee
5,000.00 35,550.00 501 Direct Charges - Salaries, Wages, and Benefits
5,500.00 30,050.00 502 Direct Charges - Rental
1,000.00 29,050.00 503 Expense - Communication, Light and Water
Total
Acc # 102.00
Balance
Credit Debit Credit

3,000.00
3,000.00 -

Acc # 103.00
Balance
Credit Debit Credit

8,250.00

Acc # 104.00
Balance
Credit Debit Credit

2,000.00

Acc # 105.00
Balance
Credit Debit Credit
 15,000.00

Acc # 106.00
Balance
Credit Debit Credit

30,000.00

Acc # 201.00
Balance
Credit Debit Credit

15,000.00 15,000.00
-

Acc # 301.00
Balance
Credit Debit Credit

70,000.00 70,000.00

Acc # 302.00
Balance
Credit Debit Credit

5,000.00

Acc # 401.00
Balance
Credit Debit Credit

15,000.00 15,000.00
3,000.00 18,000.00
20,000.00 38,000.00

Acc # 501.00
Balance
Credit Debit Credit

5,000.00
10,000.00
 Acc # 502.00
Balance
Credit Debit Credit

5,500.00

Acc # 503.00
Balance
Credit Debit Credit

2,200.00
3,200.00

204,950.00
OMPUTER AT AUDIO VIDEO MO MAGAGAWA
Trial Balance
May 31, 20xx

Account Title Debit Credit

29,050.00
-
8,250.00
2,000.00
15,000.00
30,000.00
-
70,000.00
5,000.00
38,000.00
ies, Wages, and Benefits 10,000.00
5,500.00
ation, Light and Water 3,200.00
108,000.00 108,000.00
 ASSETS
Computer and
Acoounts
DATE TRANSACTION CASH Audio/Video
Recievable
Parts
20xx
May 1 Equity, Vicente Tolete 70,000.00
1 Deposit for Rent -15,000.00
55,000.00 - -
2 Computer Set -15,000.00
40,000.00 - -
2 Prepaid Insurance -2,000.00
38,000.00 - -
7 Computer Parts -8,250.00 8,250.00
29,750.00 - 8,250.00
14 Service Fee 15,000.00
44,750.00 - 8,250.00
15 Direct Charges - Salaries -5,000.00
39,750.00 - 8,250.00
17 Accounts Payable -15,000.00
24,750.00 - 8,250.00
21 Service Fee 3,000.00
24,750.00 3,000.00 8,250.00
23 Accounts Recievable 3,000.00 -3,000.00
27,750.00 - 8,250.00
24 Expense - Light -2,200.00
25,550.00 - 8,250.00
28 Drawing - Gregorio Bautista -5,000.00
20,550.00 - 8,250.00
31 Service Fee 20,000.00
40,550.00 - 8,250.00
31 Direct Charges - Salaries -5,000.00
35,550.00 - 8,250.00
31 Direct Charges - Rental -5,500.00
30,050.00 - 8,250.00
31 Expense - Communication -1,000.00
29,050.00 - 8,250.00
ASSETS LIABILITIES

Prepaid Deposit for Computer

Accounts Payable
Insurance Rent Set

15,000.00
- 15,000.00 - -
30,000.00 15,000.00
- 15,000.00 30,000.00 15,000.00
2,000.00
2,000.00 15,000.00 30,000.00 15,000.00

2,000.00 15,000.00 30,000.00 15,000.00

2,000.00 15,000.00 30,000.00 15,000.00

2,000.00 15,000.00 30,000.00 15,000.00

-15,000.00
2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

2,000.00 15,000.00 30,000.00 -

Total Assets : 84,300.00 Total Liabilities: -

Total Owner's Equity: 84,300.00
Total Liabilities and Equity: 84,300.00
 OWNER'S EQUITY
Direct Charges -
Equity, Vicente Drawing, Vicente Direct Charges -
Service Fee Salaires, Wages and
Tolete Tolete Rental
Benefits

70,000.00

70,000.00 - - - -

70,000.00 - - - -

70,000.00 - - - -

70,000.00 - - - -
15,000.00
70,000.00 - 15,000.00 - -
5,000.00
70,000.00 - 15,000.00 5,000.00 -

70,000.00 - 15,000.00 5,000.00 -

3,000.00
70,000.00 - 18,000.00 5,000.00 -

70,000.00 - 18,000.00 5,000.00 -

70,000.00 - 18,000.00 5,000.00 -

5,000.00
70,000.00 5,000.00 18,000.00 5,000.00 -
20,000.00
70,000.00 5,000.00 38,000.00 5,000.00 -
5,000.00
70,000.00 5,000.00 38,000.00 10,000.00 -
5,500.00
70,000.00 5,000.00 38,000.00 10,000.00 5,500.00

70,000.00 5,000.00 38,000.00 10,000.00 5,500.00

 Expense -
Communication,
Light and Water

-
2,200.00
2,200.00

2,200.00

2,200.00

2,200.00

2,200.00
1,000.00
3,200.00
General Journal

Journal # 1
Date Particulars PR Debit Credit
20xx
May 1 Cash 101 50,000.00
Equity, Gregorio Bautista 301 50,000.00
To record initial investment

1 Deposit for Rent 105 10,000.00

Cash 101 10,000.00
To record office rent deposit

2 Computer Set 106 25,000.00

Cash 101 12,500.00
Accounts Payable 201 12,500.00
To record computer set

2 Prepaid Insurance 104 2,000.00

Cash 101 2,000.00
To record 1- year insurance

7 Computer Parts 103 5,550.00

Cash 101 5,550.00
To record laptop parts

14 Cash 101 10,000.00

Service Fee 401 10,000.00
To record service fee

15 Direct Charges - Salaries, Wages, and Benefits 501 3,500.00

Cash 101 3,500.00
To record salary for assistant

17 Accounts Payable 201 12,500.00

Cash 101 12,500.00
To record payment to PCs&Laptop Limited

21 Accounts Receivable 102 3,000.00

Service Fee 401 3,000.00
To record service rendered receivable
Journal # 2
Date Particulars PR Debit Credit
 20xx
May 23 Cash 101 3,000.00
Accounts Receivable 102 3,000.00
To record payment received from client

24 Expense - Communication, Light and Water 503 2,500.00

Cash 101 2,500.00
To record electricity bill

28 Drawing, Gregorio Bautista 302 5,000.00

Cash 101 5,000.00
To record withdrawal for personal use

31 Cash 101 18,000.00

Service Fee 401 18,000.00
To record service rendered

31 Direct Charges - Salaries, Wages, and Benefits 501 3,500.00

Cash 101 3,500.00
To record salary for assistant

31 Direct Charges - Rental 502 4,500.00

Cash 101 4,500.00
To record rent for the month

158,050.00 158,050.00
General Ledger
CASH

Date Particulars PR Debit

20xx
May 1 Initial Investment J1 50,000.00
1 Office Rent Deposit J1
2 One Computer Set J1
2 One-Year Insurance Policy J1
7 Computer and Audio/Video Parts J1
14 Service Fee J1 10,000.00
15 Salaries Expense for Assistant J1
17 Payment to ComputerWorld J1
23 Payment Received from Clients J2 3,000.00
24 Electricity Bill J2
28 Withdrawal for Personal Use J2
31 Service Rendered J2 18,000.00
31 Salaries Expense for Assistant J2
31 Rent for the Month J2

ACCOUNTS RECEIVABLE

Date Particulars PR Debit

20xx
May 21 Service Fee J1 3,000.00
23 Payment Received from Clients J2

COMPUTER PARTS

Date Particulars PR Debit

20xx
May 7 Computer and Audio/Video Parts J1 5,550.00

PREPAID INSURANCE

Date Particulars PR Debit

20xx
May 2 One-Year Insurance Policy J1 2,000.00

DEPOSIT FOR RENT

Date Particulars PR Debit

 20xx
May 1 Office Rent Deposit J1 10,000.00

COMPUTER SET

Date Particulars PR Debit

20xx
May 2 One Computer Set J1 25,000.00

ACCOUNTS PAYABLE

Date Particulars PR Debit

20xx
May 2 One Computer Set J1
17 One Computer Set J1 12,500.00

EQUITY, GREGORIO BAUTISTA

Date Particulars PR Debit

20xx
May 1 Initial Investment J1

DRAWING, GREGORIO BAUTISTA

Date Particulars PR Debit

20xx
May 28 Withdrawal for Personal Use J2 5,000.00

SERVICE FEE

Date Particulars PR Debit

20xx
May 14 Service Fee J1
21 Service Fee J1
31 Service Rendered J2

DIRECT CHARGES - SALARIES, WAGES, AND BENEFITS

Date Particulars PR Debit

20xx
May 15 Salaries Expense for Assistant J1 3,500.00
31 Salaries Expense for Assistant J2 3,500.00
 DIRECT CHARGES - RENTAL

Date Particulars PR Debit

20xx
May 31 Rent for the Month J2 4,500.00

EXPENSE - COMMUNICATION, LIGHT, AND WATER

Date Particulars PR Debit

20xx
May 24 Electricity Bill J2 2,500.00

158,050.00
 Trial Balance
Acc # 101.00
Balance SIRANG LAPTOP MO, KAYANG KAYA
Credit Debit Credit Trial Balance
May 31, 20xx
50,000.00
10,000.00 40,000.00 Account No. Account Title
12,500.00 27,500.00 101 Cash
2,000.00 25,500.00 102 Accounts Receivable
5,550.00 19,950.00 103 Computer and Audio/Video Parts
29,950.00 104 Prepaid Insurance
3,500.00 26,450.00 105 Deposit for Rent
12,500.00 13,950.00 106 Computer Set
16,950.00 201 Accounts Payable
2,500.00 14,450.00 301 Equity, Vicente Tolete
5,000.00 9,450.00 302 Drawing, Vicente Tolete
27,450.00 401 Service Fee
3,500.00 23,950.00 501 Direct Charges - Salaries, Wages, and Benefits
4,500.00 19,450.00 502 Direct Charges - Rental
503 Expense - Communication, Light and Water
Total
Acc # 102.00
Balance
Credit Debit Credit

3,000.00
3,000.00 -

Acc # 103.00
Balance
Credit Debit Credit

5,550.00

Acc # 104.00
Balance
Credit Debit Credit

2,000.00

Acc # 105.00
Balance
Credit Debit Credit
 10,000.00

Acc # 106.00
Balance
Credit Debit Credit

25,000.00

Acc # 201.00
Balance
Credit Debit Credit

12,500.00 12,500.00
-

Acc # 301.00
Balance
Credit Debit Credit

50,000.00 50,000.00

Acc # 302.00
Balance
Credit Debit Credit

5,000.00

Acc # 401.00
Balance
Credit Debit Credit

10,000.00 10,000.00
3,000.00 13,000.00
18,000.00 31,000.00

Acc # 501.00
Balance
Credit Debit Credit

3,500.00
7,000.00
 Acc # 502.00
Balance
Credit Debit Credit

4,500.00

Acc # 503.00
Balance
Credit Debit Credit

2,500.00

158,050.00
RANG LAPTOP MO, KAYANG KAYA KO
Trial Balance
May 31, 20xx

Account Title Debit Credit

19,450.00
-
5,550.00
2,000.00
10,000.00
25,000.00
-
50,000.00
5,000.00
31,000.00
ies, Wages, and Benefits 7,000.00
4,500.00
ation, Light and Water 2,500.00
81,000.00 81,000.00
 ASSETS

Acoounts Compiuter
DATE TRANSACTION CASH
Recievable Parts

20xx
May 1 Equity, Gregorio Bautista 50,000
1 Deposit for Rent -10,000
40,000
2 Computer Set -12,500
27,500
2 Prepaid Insurance -2,000
25,500
7 Computer Parts -5,550 5,550
19,950 5,550
14 Service Fee 10,000
29,950 5,550
15 Direct Charges - Salaries -3,500
26,450 5,550
17 Accounts Payable -12,500
13,950 5,550
21 Service Fee 3,000
13,950 3,000 5,550
23 Accounts Recievable 3,000 -3,000
16,950 0 5,550
24 Expense - Light -2,500
14,450 0 5,550
28 Drawing - Gregorio Bautista -5,000
9,450 0 5,550
31 Service Fee 18,000
27,450 0 5,550
31 Direct Charges - Salaries -3,500
23,950 0 5,550
31 Direct Charges - Rental -4,500
19,450 0 5,550
ASSETS LIABILITIES

Prepaid Deposit for Computer

Accounts Payable
Insurance Rent Set

10,000
10,000
25,000 12,500
10,000 25,000 12,500
2,000
2,000 10,000 25,000 12,500

2,000 10,000 25,000 12,500

2,000 10,000 25,000 12,500

2,000 10,000 25,000 12,500

-12,500
2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

2,000 10,000 25,000 0

Total Assets : 62,000 Total Liabilities: 0

Total Owner's Equity: 62,000
Total Liabilities and Equity: 62,000
 OWNER'S EQUITY
Direct Charges -
Equity, Gregorio Drawing, Gregorio Direct Charges -
Service Fee Salaires, Wages and
Bautista Bautista Rental
Benefits

50,000

50,000

50,000

50,000

50,000
10,000
50,000 10,000
3,500
50,000 10,000 3,500

50,000 10,000 3,500

3,000
50,000 13,000 3,500

50,000 13,000 3,500

50,000 13,000 3,500

5,000
50,000 5,000 13,000 3,500
18,000
50,000 5,000 31,000 3,500
3,500
50,000 5,000 31,000 7,000
4,500
50,000 5,000 31,000 7,000 4,500
 Expense -
Communication,
Light and Water

2,500
2,500

2,500

2,500

2,500

2,500
General Journal

Date Particulars PR
20xx
Dec 1 Cash 101
Equity, Genoviva Abuan 301
To record initial investment

1 Expense - Taxes and Licenses 504

Cash 101
To record business permit and licenses

2 Photography Equipments 104

Cash 101
Accounts Payable 201
To record photography equipments

2 Photography Supplies 103

Accounts Payable 201
To record photography supplies

3 Office Equipments 105

Cash 101
To record office equipments

15 Cash 101
Service Income 401
To record professional service

15 Direct Charges - Salaries, Wages, and Benefits 501

Cash 101
To record wages to employees

17 Accounts Payable 201

Cash 101
To record payment to NickonCamera

18 Accounts Payable 201

Cash 101
To record payment to PhotoShop

Date Particulars PR
 20xx
Dec 21 Expense - Communication, Light, and Water 503
Cash 101
To record telephone bill

24 Drawing, Genoviva Abuan 302

Cash 101
To record withdrawal for personal use

27 Accounts Receivable 201

Service Income 401
To record performed service receivable

27 Photography Supplies 103

Equity, Genoviva Abuan 301
To record photography suppplies bought using Abuan's own credit card

28 Cash 101
Accounts Receivable 102
To record payment received from clients

30 Cash 101
Service Income 401
To record professional service

30 Direct Charges - Salaries, Wages, and Benefits 501

Cash 101
To record wages to employees

30 Direct Charges - Rental 502

Cash 101
To record rent for the month

30 Expense - Communication, Light, and Water 503

Cash 101
To record electricity bill P3,500.00; water P500.00
 Ledger
CASH
Journal # 1
Debit Credit Date Particulars
20xx
175,000.00 Dec 1 Initial Investment
175,000.00 1 Business Permit and Licenses
2 Photography Equipments
3 Office Equipments
3,500.00 15 Professional Service
3,500.00 15 Wages to Employees
17 Payment to NickonCamera
18 Payment to PhotoShop
70,000.00 21 Telephone Bill
35,000.00 24 Withdrawal for Personal Use
35,000.00 28 Payment Received from Clients
30 Professional Service
30 Wages to Employees
15,000.00 30 Office Rent for the Month
15,000.00 30 Elecricity Bill P3,500.00; Water P500.00

ACCOUNTS RECEIVABLE
22,000.00
22,000.00 Date Particulars
20xx
Dec 27 Service Performed
30,000.00 28 Payment Received from Clients
30,000.00
PHOTOGRAPHY SUPPLIES

10,000.00 Date Particulars

10,000.00 20xx
Dec 2 Photography Supplies
27 Photography Supplies from Abuan's Own Credit Card
35,000.00
35,000.00 PHOTOGRAPHY EQUIPMENTS

Date Particulars
15,000.00 20xx
15,000.00 Dec 2 Photography Equipments

Journal # 2 OFFICE EQUIPMENTS

Debit Credit
 Date Particulars
1,000.00 20xx
1,000.00 Dec 3 Office Equipments

ACCOUNTS PAYABLE
5,000.00
5,000.00 Date Particulars
20xx
Dec 2 Photography Equipments from NickonCamera
10,000.00 2 Photography Supplies from PhotoShop
10,000.00 17 Payment to NickonCamera
18 Payment to PhotoShop

10,000.00 EQUITY, GENOVIVA ABUAN

10,000.00
Date Particulars
20xx
8,000.00 Dec 1 Initial Investment
8,000.00 27 Photography Supplies

DRAWING, GENOVIVA ABUAN

25,000.00
25,000.00 Date Particulars
20xx
Dec 24 Withdrawal for Personal Use
10,000.00
10,000.00 SERVICE INCOME

Date Particulars
10,000.00 20xx
10,000.00 Dec 15 Professional Service
27 Service Performed
30 Professional Service
4,000.00
4,000.00 DIRECT CHARGES - SALARIES, WAGES, AND BENEFITS

458,500.00 458,500.00 Date Particulars

20xx
Dec 15 Wages to Employees
30 Wages to Employees

DIRECT CHARGES - RENTAL

 Date Particulars
20xx
Dec 30 Office Rent for the Month

EXPENSE - COMMUNICATION, LIGHT, AND WATER

Date Particulars
20xx
Dec 21 Telephone Bill
30 Elecricity Bill P3,500.00; Water P500.00

EXPENSE - TAXES AND LICENSES

Date Particulars
20xx
Dec 1 Business Permit and Licenses
 Trial Balance
ASH Acc # 101.00
Balance
PR Debit Credit Debit Credit

J1 175,000.00 175,000.00
J1 3,500.00 171,500.00 Account No.
J1 35,000.00 136,500.00 101 Cash
J1 22,000.00 114,500.00 102 Accounts Receivable
J1 30,000.00 144,500.00 103 Photography Supplies
J1 10,000.00 134,500.00 104 Photography Equipment
J1 35,000.00 99,500.00 105 Office Equipment
J1 15,000.00 84,500.00 201 Accounts Payable
J2 1,000.00 83,500.00 301 Equity, Genoviva Abuan
J2 5,000.00 78,500.00 302 Drawing, Genoviva Abua
J2 8,000.00 86,500.00 401 Service Income
J2 25,000.00 111,500.00 501 Direct Charges - Salaries,
J2 10,000.00 101,500.00 502 Direct Charges - Rental
J2 10,000.00 91,500.00 503 Expense - Communicatio
J2 4,000.00 87,500.00 504 Expense - Taxes and Lice
Total
S RECEIVABLE Acc # 102.00
Balance
PR Debit Credit Debit Credit

J2 10,000.00 10,000.00
J2 8,000.00 2,000.00

APHY SUPPLIES Acc # 103.00

Balance
PR Debit Credit Debit Credit

J1 15,000.00 15,000.00
J2 10,000.00 25,000.00

HY EQUIPMENTS Acc # 104.00

Balance
PR Debit Credit Debit Credit

J1 70,000.00 70,000.00

QUIPMENTS Acc # 105.00

Balance
 PR Debit Credit Debit Credit

J1 22,000.00 22,000.00

TS PAYABLE Acc # 201.00

Balance
PR Debit Credit Debit Credit
J1
J1 35,000.00 35,000.00
J1 15,000.00 50,000.00
J1 35,000.00 15,000.00
15,000.00 -

NOVIVA ABUAN Acc # 301.00

Balance
PR Debit Credit Debit Credit

J1 175,000.00 175,000.00
J2 10,000.00 185,000.00

ENOVIVA ABUAN Acc # 302.00

Balance
PR Debit Credit Debit Credit

J2 5,000.00 5,000.00

E INCOME Acc # 401.00

Balance
PR Debit Credit Debit Credit

J1 30,000.00 30,000.00
J2 10,000.00 40,000.00
J2 25,000.00 65,000.00

RIES, WAGES, AND BENEFITS Acc # 501.00

Balance
PR Debit Credit Debit Credit

J1 10,000.00 10,000.00
J2 10,000.00 20,000.00

RGES - RENTAL Acc # 502.00

Balance
 PR Debit Credit Debit Credit

J2 10,000.00 10,000.00

ATION, LIGHT, AND WATER Acc # 503.00

Balance
PR Debit Credit Debit Credit

J2 1,000.00 1,000.00
J2 4,000.00 5,000.00

XES AND LICENSES Acc # 504.00

Balance
PR Debit Credit Debit Credit

J1 3,500.00 3,500.00

458,500.00 458,500.00
 GREAT IMAGE
Trial Balance
December 31, 20xx

Account Title Debit Credit

87,500.00
Accounts Receivable 2,000.00
Photography Supplies 25,000.00
Photography Equipment 70,000.00
Office Equipment 22,000.00
Accounts Payable -
Equity, Genoviva Abuan 185,000.00
Drawing, Genoviva Abuan 5,000.00
Service Income 65,000.00
Direct Charges - Salaries, Wages, and Benefits 20,000.00
Direct Charges - Rental 10,000.00
Expense - Communication, Light, and Water 5,000.00
Expense - Taxes and Licenses 3,500.00
250,000.00 250,000.00
 ASSETS

Photography
DATE TRANSACTION Cash Accounts Recievable
Supplies

20xx
Dec 1 Initial Capital 175,000.00
1 Permit and Licenses -3,500.00
2 Photography Equipments -35,000.00
2 Photography Supplies 15,000.00
3 Office Equipments -22,000.00
15 Proffesional Service 30,000.00
15 Wages to Employees -10,000.00
17 Payment for NickonCamera -35,000.00
18 Payment to PhotoShop -15,000.00
21 Telephone Bill -1,000.00
24 Withdrawal -5,000.00
27 Service Fee 10,000.00
27 Photography Supplies 10,000.00
28 Collected AR 8,000.00 -8,000.00
30 Proffesional Service 25,000.00
30 Wages to Employees -10,000.00
30 Office Rent for the Month -10,000.00
30 Electricity Bill and Water -4,000.00
87,500.00 2,000.00 25,000.00
ASSETS LIABILITIES

Photography
Office Equipments Total Assets Accounts Payable
Equipments

175,000.00
-3,500.00
70,000.00 35,000.00 35,000.00
15,000.00 15,000.00
22,000.00 0.00
30,000.00
-10,000.00
-35,000.00 -35,000.00
-15,000.00 -15,000.00
-1,000.00
-5,000.00
10,000.00
10,000.00
0.00
25,000.00
-10,000.00
-10,000.00
-4,000.00
70,000.00 22,000.00 206,500.00 0.00
 OWNER'S EQUITY
Direct Charges -
Equity, Genoviva Drawing, Genoviva Direct Charges -
Service Income Salaries, Wages
Abuan Abuan Rental
and Benefits

175,000.00

30,000.00
10,000.00

5,000.00
10,000.00
10,000.00

25,000.00
10,000.00
10,000.00

185,000.00 5,000.00 65,000.00 20,000.00 10,000.00

 Expense - Expense -
Communication, Taxes, and Total L + OE Check
Light and Water Licenses

175,000.00 0.00
3,500.00 -3,500.00 0.00
35,000.00 0.00
15,000.00 0.00
0.00 0.00
30,000.00 0.00
-10,000.00 0.00
-35,000.00 0.00
-15,000.00 0.00
1,000.00 -1,000.00 0.00
-5,000.00 0.00
10,000.00 0.00
10,000.00 0.00
0.00 0.00
25,000.00 0.00
-10,000.00 0.00
-10,000.00 0.00
4,000.00 -4,000.00 0.00
5,000.00 3,500.00 206,500.00 0.00
General Journal

Date Particulars PR
20xx
Dec 1 Cash 101
Equity, Paulina Luna 301
To record initial investment

1 Expense - Taxes and Licenses 504

Cash 101
To record business permit and licenses

2 Salon Equipments 104

Cash 101
Accounts Payable 201
To record salon equipments

2 Salon Supplies 103

Accounts Payable 201
To record salon supplies

3 Office Equipments 105

Cash 101
To record office equipments

15 Cash 101
Service Income 401
To record professional service

15 Direct Charges - Salaries, Wages, and Benefits 501

Cash 101
To record wages to employees

16 Accounts Payable 201

Cash 101
To record payment to HBC

17 Accounts Payable 201

Cash 101
To record payment to SalonDepot

Date Particulars PR
 20xx
Dec 23 Expense - Communication, Light, and Water 503
Cash 101
To record telephone bill

24 Salon Supplies 103

Equity, Paulina Luna 301
To record photography suppplies bought using Luna's own credit card

24 Drawing, Paulina Luna 302

Cash 101
To record withdrawal for personal use

27 Accounts Receivable 102

Service Income 401
To record performed service receivable

28 Cash 101
Service Income 401
To record professional service

30 Cash 101
Accounts Receivable 102
To record payment received from clients

30 Direct Charges - Rental 502

Cash 101
To record rent for the month

30 Direct Charges - Salaries, Wages, and Benefits 501

Cash 101
To record wages to employees

30 Expense - Communication, Light, and Water 503

Cash 101
To record electricity bill P8,000.00; water P2,000.00
 Ledger
CASH
Journal # 1
Debit Credit Date Particulars
20xx
250,000.00 Dec 1 Initial Investment
250,000.00 1 Business Permit and Licenses
2 Salon Equipments
3 Office Equipments
3,800.00 15 Professional Service
3,800.00 15 Wages to Employees
16 Payment to HBC
17 Payment to PhotoShop
85,000.00 23 Telephone Bill
50,000.00 24 Withdrawal for Personal Use
35,000.00 28 Professional Service
30 Payment Received from Clients
30 Wages to Employees
17,000.00 30 Office Rent for the Month
17,000.00 30 Elecricity Bill P3,500.00; Water P500.00

ACCOUNTS RECEIVABLE
35,000.00
35,000.00 Date Particulars
20xx
Dec 27 Service Performed
50,000.00 30 Payment Received from Clients
50,000.00
SALON SUPPLIES

10,000.00 Date Particulars

10,000.00 20xx
Dec 2 Salon Supplies
24 Salon Supplies from Luna's Own Credit Card
17,000.00
17,000.00 SALON EQUIPMENTS

Date Particulars
35,000.00 20xx
35,000.00 Dec 2 Salon Equipments

Journal # 2 OFFICE EQUIPMENTS

Debit Credit
 Date Particulars
2,000.00 20xx
2,000.00 Dec 3 Office Equipments

ACCOUNTS PAYABLE
10,000.00
10,000.00 Date Particulars
20xx
Dec 2 Salon Equipments from SalonDepot
20,000.00 2 Salon Supplies from HBC
20,000.00 16 Salon to HBC
17 Salon to SalonDepot

10,000.00 EQUITY, PAULINA LUNA

10,000.00
Date Particulars
20xx
40,000.00 Dec 1 Initial Investment
40,000.00 24 Salon Supplies

DRAWING, GENOVIVA ABUAN

7,000.00
7,000.00 Date Particulars
20xx
Dec 24 Withdrawal for Personal Use
15,000.00
15,000.00 SERVICE INCOME

Date Particulars
11,000.00 20xx
11,000.00 Dec 15 Professional Service
27 Service Performed
28 Professional Service
10,000.00
10,000.00 DIRECT CHARGES - SALARIES, WAGES, AND BENEFITS

627,800.00 627,800.00 Date Particulars

20xx
Dec 15 Wages to Employees
30 Wages to Employees

DIRECT CHARGES - RENTAL

 Date Particulars
20xx
Dec 30 Office Rent for the Month

EXPENSE - COMMUNICATION, LIGHT, AND WATER

Date Particulars
20xx
Dec 23 Telephone Bill
30 Elecricity Bill P8,000.00; Water P2,000.00

EXPENSE - TAXES AND LICENSES

Date Particulars
20xx
Dec 1 Business Permit and Licenses
 Trial Balance
ASH Acc # 101.00
Balance
PR Debit Credit Debit Credit

J1 250,000.00 250,000.00
J1 3,800.00 246,200.00 Account No.
J1 50,000.00 196,200.00 101 Cash
J1 35,000.00 161,200.00 102 Accounts Receivable
J1 50,000.00 211,200.00 103 Photography Supplies
J1 10,000.00 201,200.00 104 Photography Equipment
J1 17,000.00 184,200.00 105 Office Equipment
J1 35,000.00 149,200.00 201 Accounts Payable
J2 2,000.00 147,200.00 301 Equity, Genoviva Abuan
J2 20,000.00 127,200.00 302 Drawing, Genoviva Abua
J2 40,000.00 167,200.00 401 Service Income
J2 7,000.00 174,200.00 501 Direct Charges - Salaries,
J2 15,000.00 159,200.00 502 Direct Charges - Rental
J2 11,000.00 148,200.00 503 Expense - Communicatio
J2 10,000.00 138,200.00 504 Expense - Taxes and Lice
Total
S RECEIVABLE Acc # 102.00
Balance
PR Debit Credit Debit Credit

J2 10,000.00 10,000.00
J2 7,000.00 3,000.00

SUPPLIES Acc # 103.00

Balance
PR Debit Credit Debit Credit

J1 17,000.00 17,000.00
J2 10,000.00 27,000.00

QUIPMENTS Acc # 104.00

Balance
PR Debit Credit Debit Credit

J1 85,000.00 85,000.00

QUIPMENTS Acc # 105.00

Balance
 PR Debit Credit Debit Credit

J1 35,000.00 35,000.00

TS PAYABLE Acc # 201.00

Balance
PR Debit Credit Debit Credit

J1 35,000.00 35,000.00
J1 17,000.00 52,000.00
J1 17,000.00 35,000.00
J1 35,000.00 -

AULINA LUNA Acc # 301.00

Balance
PR Debit Credit Debit Credit

J1 250,000.00 250,000.00
J2 10,000.00 260,000.00

ENOVIVA ABUAN Acc # 302.00

Balance
PR Debit Credit Debit Credit

J2 20,000.00 20,000.00

E INCOME Acc # 401.00

Balance
PR Debit Credit Debit Credit

J1 50,000.00 50,000.00
J2 10,000.00 60,000.00
J2 40,000.00 100,000.00

RIES, WAGES, AND BENEFITS Acc # 501.00

Balance
PR Debit Credit Debit Credit

J1 10,000.00 10,000.00
J2 11,000.00 21,000.00

RGES - RENTAL Acc # 502.00

Balance
 PR Debit Credit Debit Credit

J2 15,000.00 15,000.00

ATION, LIGHT, AND WATER Acc # 503.00

Balance
PR Debit Credit Debit Credit

J2 2,000.00 2,000.00
J2 10,000.00 12,000.00

XES AND LICENSES Acc # 504.00

Balance
PR Debit Credit Debit Credit

J1 3,800.00 3,800.00

627,800.00 627,800.00
 PRETTY LADIES
Trial Balance
December 31, 20xx

Account Title Debit Credit

138,200.00
Accounts Receivable 3,000.00
Photography Supplies 27,000.00
Photography Equipment 85,000.00
Office Equipment 35,000.00
Accounts Payable -
Equity, Genoviva Abuan 260,000.00
Drawing, Genoviva Abuan 20,000.00
Service Income 100,000.00
Direct Charges - Salaries, Wages, and Benefits 21,000.00
Direct Charges - Rental 15,000.00
Expense - Communication, Light, and Water 12,000.00
Expense - Taxes and Licenses 3,800.00
360,000.00 360,000.00
 ASSETS

DATE TRANSACTION Cash Accounts Recievable Salon Supplies

20xx
Dec 1 Initial Capital 250,000.00
1 Permit and Licenses -3,800.00
2 Salon Equipments -50,000.00
2 Salon Supplies 17,000.00
3 Office Equipments -35,000.00
15 Proffesional Service 50,000.00
15 Wages -10,000.00
16 Paid AP -17,000.00
17 Paid AP -35,000.00
23 Telephone Bill -2,000.00
24 Credit Card 10,000.00
24 Withdrawal -20,000.00
27 Service Fee 10,000.00
28 Service Fee 40,000.00
30 Collected AR 7,000.00 -7,000.00
30 Rent -15,000.00
30 Wages -11,000.00
30 Electricity Bill -10,000.00
138,200.00 3,000.00 27,000.00
ASSETS LIABILITIES

Salon
Office Equipments Total Assets Accounts Payable
Equipments

250,000.00
-3,800.00
85,000.00 35,000.00 35,000.00
17,000.00 17,000.00
35,000.00 0.00
50,000.00
-10,000.00
-17,000.00 -17,000.00
-35,000.00 -35,000.00
-2,000.00
10,000.00
-20,000.00
10,000.00
40,000.00
0.00
-15,000.00
-11,000.00
-10,000.00
85,000.00 35,000.00 288,200.00 0.00
 OWNER'S EQUITY
Direct Charges -
Direct Charges -
Equity, Paulina Luna Drawing, Paulina Luna Service Income Salaries, Wages
Rental
and Benefits

250,000.00

50,000.00
10,000.00

10,000.00
20,000.00
10,000.00
40,000.00

15,000.00
11,000.00

260,000.00 20,000.00 100,000.00 21,000.00 15,000.00

 Expense - Expense -
Communication, Taxes, and Total L + OE Check
Light and Water Licenses

250,000.00 0.00
3,800.00 -3,800.00 0.00
35,000.00 0.00
17,000.00 0.00
0.00 0.00
50,000.00 0.00
-10,000.00 0.00
-17,000.00 0.00
-35,000.00 0.00
2,000.00 -2,000.00 0.00
10,000.00 0.00
-20,000.00 0.00
10,000.00 0.00
40,000.00 0.00
0.00 0.00
-15,000.00 0.00
-11,000.00 0.00
10,000.00 -10,000.00 0.00
12,000.00 3,800.00 288,200.00 0.00