Rosalina Besario Surveyors - Worksheet - CASIGNIA

Rosalina B
W
Ma
Unadjusted Trial Balance Adjusting Entries

dr cr dr
Cash ₱210,000.00
Accounts receivable 930,000.00
Prepaid advertising 360,000.00
Engineering supplies 270,000.00
Survey equipment 1,890,000.00
Accumulated depreciation - Survey equipment ₱640,000.00
Accounts payable 190,000.00
Unearned survey revenues 120,000.00 d 40,000.00
Notes payable 500,000.00
Besario Capital 1,120,000.00
Besario Withdrawals 700,000.00
Survey revenues 6,510,000.00
Salaries expense 3,270,000.00 e 140,000.00
Rent expense 960,000.00
Insurance expense 250,000.00
Utilities expense 160,000.00
Other expenses 80,000.00
Totals ₱9,080,000.00 ₱9,080,000.00
Adjustments
a. Advertising Expense a 140,000.00
b. Engineering Supplies Expense b 180,000.00
c. Depreciation Expense c 160,000.00
e. Accrued Salaries Expense
f. Interest Expense f 60,000.00
f. Accrued Interest Expense
Totals ₱720,000.00
Net Income
GRAND TOTALS
Closing Entries
1. To close the Revenue account
Survey Revenues
Income Summary
2. To close the Expense account

Income Summary
Salaries expense
Rent expense
Insurance expense
Utilities expense
Other expenses
Advertising Expense
Engineering Supplies Expense
Depreciation Expense
Interest Expense
3. To close the Withdrawal account

Besario Capital
Besario Withdrawal
4. To close the Income Summary acc

Income Summary
Besario Capital
Rosalina Besario Surveyors
Worksheet
May 31, 2019
Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet

cr dr cr dr cr dr
₱210,000.00 ₱210,000.00
930,000.00 930,000.00
₱140,000.00 a 220,000.00 220,000.00
180,000.00 b 90,000.00 90,000.00
1,890,000.00 1,890,000.00
160,000.00 c ₱800,000.00
190,000.00
80,000.00
500,000.00
1,120,000.00
700,000.00 700,000.00
₱40,000.00 d 6,550,000.00 ₱6,550,000.00
3,410,000.00 ₱3,410,000.00
960,000.00 960,000.00
250,000.00 250,000.00
160,000.00 160,000.00
80,000.00 80,000.00
140,000.00 140,000.00
180,000.00 180,000.00
160,000.00 160,000.00
140,000.00 e 140,000.00
60,000.00 60,000.00
60,000.00 f 60,000.00
₱720,000.00 ₱9,440,000.00 ₱9,440,000.00 ₱5,400,000.00 ₱6,550,000.00 ₱4,040,000.00
₱1,150,000.00
₱6,550,000.00 ₱6,550,000.00 ₱4,040,000.00
osing Entries
To close the Revenue account
rvey Revenues ₱6,550,000.00
Income Summary ₱6,550,000.00
To close the Expense account Besario Capital

come Summary 5,400,000.00 3ce 700,000.00 1,120,000.00
Salaries expense ₱3,410,000.00 ₱1,150,000.00
Rent expense 960,000.00 700,000.00 2,270,000.00
Insurance expense 250,000.00 ₱1,570,000.00
Utilities expense 160,000.00
Other expenses 80,000.00 Income Summary
Advertising Expense 140,000.00 5,400,000.00 ₱6,550,000.00
Engineering Supplies Expense 180,000.00 ₱1,150,000.00
Depreciation Expense 160,000.00
Interest Expense 60,000.00
To close the Withdrawal account to Capital

sario Capital 700,000.00
Besario Withdrawal 700,000.00
To close the Income Summary account to Capital

come Summary ₱1,150,000.00
Besario Capital ₱1,150,000.00
Rosalina Besario Surveyors
Income Statement
For the period ended May 31, 2019
Balance Sheet Post-closing Trial Balance Revenues

cr dr cr Less Operating Expenses
₱210,000.00 Salaries expense
930,000.00 Rent expense
220,000.00 Insurance expense
90,000.00 Utilities expense
1,890,000.00 Other expenses
₱800,000.00 ₱800,000.00 Advertising Expense
190,000.00 190,000.00 Engineering Supplies Expense
80,000.00 80,000.00 Depreciation Expense
500,000.00 500,000.00 Interest Expense
1,120,000.00 1,570,000.00 Net Income
140,000.00 140,000.00
60,000.00 60,000.00
₱2,890,000.00 ₱3,340,000.00 ₱3,340,000.00
₱1,150,000.00
₱4,040,000.00
bb
4ce
BE
BE
na Besario Surveyors Rosalina Besario Surveyors
come Statement Balance Sheet
riod ended May 31, 2019 As of May 31, 2019
₱6,550,000.00 ASSETS
Current Assets
₱3,410,000.00 Cash ₱210,000.00
960,000.00 Accounts Receivable 930,000.00
250,000.00 Prepaid Advertising 220,000.00
160,000.00 Engineering Supplies 90,000.00
80,000.00
140,000.00 Non-current Asset
180,000.00 Survey Equipment 1,890,000.00
160,000.00 Less Accumulated Depreciation 800,000.00
60,000.00 ₱5,400,000.00 TOTAL ASSETS
₱1,150,000.00
LIABILITIES AND OWNER'S EQUITY
LIABILITIES
Current Liabilities
Accounts payable 190,000.00
Unearned survey revenues 80,000.00
Notes payable 500,000.00
Accrued Salaries Expense 140,000.00
Accrued Interest Expense 60,000.00
OWNER'S EQUITY
Besario Capital
TOTAL LIABILITIES AND OWNER'S EQUITY
ors
₱1,450,000.00
1,090,000.00
₱2,540,000.00
EQUITY
970,000.00
1,570,000.00
₱2,540,000.00

Rosalina Besario Surveyors - Worksheet - CASIGNIA

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Rosalina B

Unadjusted Trial Balance Adjusting Entries

2. To close the Expense account

3. To close the Withdrawal account

4. To close the Income Summary acc

Adjusting Entries Adjusted Trial Balance Income Statement Balance Sheet

To close the Expense account Besario Capital

To close the Withdrawal account to Capital

To close the Income Summary account to Capital

Balance Sheet Post-closing Trial Balance Revenues

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