BOO GOO KHO

DATE ACCOUNTS TITLE AND EXPLANATION PR # DEBIT CREDIT

Mar-19
1 Cash 62,000
B. G. Capital 62,000
InitiaI investment.

2 Cleaning Supplies 15,600

Accounts Payable 15,600
Acquired cleaning supplies on account.

3 Cleaning Equipment 21,400

Accounts Payable 21,400
Acquired cleaning equipment on account.

6 Service Vehicle 47,000

Cash 10,000
Notes Payable 37,000
Acquired service vehicle.

7 Rent Expense 7,300

Cash 7,300
Paid rent.

9 Cash 31,000
Cleaning Revenue 31,000
Rendered services.
1,700
10 Advertising Expense 1,700
Cash
Paid advertising.

12 Prepaid Insurance 4,800

Cash 4,800
Paid insurance in advance.

14 Miscellaneous Expense 2,200

Cash 2,200
Paid miscellaneous.

15 Accounts Receivable 18,600

Cleaning Revenue 18,600
Billed on customer.

16 Salaries Expense 8,400

 Cash 8,400
Paid salaries.

20 Cash 9,800
Accounts Receivable 9,800
Received from billed customer.

22 Accounts Payable 2,400

Cash 2,400
Paid the account.

25 Telephone Expense 900

Cash 900
Paid telephone.

28 Salaries Expense 7,900

Cash 7,900
Paid salaries.

28 Accounts Receivable 13,000

Cleaning Revenue 13,000
Billed for customer.

28 B.G, Withdrawal 10,000

Cash 10,000
Withdrawal of the owner.
TOTAL 264,000 264,000

BOO GOO KHO

MARCH 1-28 2019
LEDGER

ACCOUNT TITLE: CASH

ACCOUNT NO. 110
DATE PARTICULARS DEBIT CREDIT
1 Initial investment. 62,000
6 Acquired service vehicle. 10,000
7 Paid rent. 7,300
9 Rendered services. 31,000
10 Paid advertising. 1,700
12 Paid insurance in advanced. 4,800
14 Paid miscellaneous. 2,200
16 Paid salaries. 8,400
 20 Received from billed customer. 9,800
22 Paid the account. 2,400
25 Paid telephone. 900
28 Paid salaries. 7,900
28 Withdrawal of the owner. 10,000

ACCOUNTS TITLE: ACCOUNTS RECEIVABLE

ACCOUNTS NO. 120
DATE PARTICULARS DEBIT CREDIT
15 Billed on customer. 18,600
20 Received from billed customer. 9,800
28 Billed for customer. 13,000

ACCOUNTS TITLE: CLEANING SUPPLIES

ACCOUNTS NO. 130
DATE PARTICULARS DEBIT CREDIT
2 Acquired cleaning supplies on account. 15,600

ACCOUNTS TITLE: PREPAID INSURANCE

ACCOUNTS NO. 140
DATE PARTICULARS DEBIT CREDIT
12 Paid insurance in advance. 4,800

ACCOUNTS TITLE: CLEANING EQUIPMENT

ACCOUNTS NO.150
DATE PARTICULARS DEBIT CREDIT
3 Acquired cleaning equipment on account. 21,400

ACCOUNTS TITLE: SERVICE VEHICLE

ACCOUNTS NO. 160
DATE PARTICULARS DEBIT CREDIT
6 Acquired service vehicle. 47,000

ACCOUNTS TITLE: ACCOUNTS PAYABLE

ACCOUNTS NO. 210
DATE PARTICULARS DEBIT CREDIT
2 Acquired cleaning supplies on account. 15,600
3 Acquired cleaning equipment on account. 21,400
22 Paid the account. 2,400

ACCOUNTS TITLE: NOTES PAYABLE

ACCOUNTS NO. 220
DATE PARTICULARS DEBIT CREDIT
6 Aquired service vehicle. 37,000
 ACCOUNTS TITLE: B.G, CAPITAL
ACCOUNTS NO. 310
DATE PARTICULARS DEBIT CREDIT
1 Initial investment. 62,000

ACCOUNTS TITLE: B.G, WITHDRAWAL

ACCOUNTS NO. 320
DATE PARTICULARS DEBIT CREDIT
28 Withdrawal of the owner. 10,000

ACCOUNTS TITLE: CLEANING REVENUE

ACCOUNTS NO.
DATE PARTICULARS DEBIT CREDIT
9 Rendered services. 31,000
15 Billed on customer. 18,600
28 Billed for customer. 13,000

ACCOUNTS TITLE: SALARIES EXPENSE

ACCOUNTS NO. 510
DATE PARTICULARS DEBIT CREDIT
16 Paid salaries. 8,400
20 Paid salaries. 7,900

ACCOUNTS TITLE: RENT EXPENSE

ACCOUNTS NO. 520
DATE PARTICULARS DEBIT CREDIT
7 Paid rent. 7,300

ACCOUNTS TITLE: ADVERTISING EXPENSE

ACCOUNTS NO. 530
DATE PARTICULARS DEBIT CREDIT
10 Paid advertising. 1,700

ACCOUNTS TITLE: TELEPHONE EXPENSE

ACCOUNTS NO. 540
DATE PARTICULARS DEBIT CREDIT
25 Paid telephone. 900

ACCOUNTS TITLE: MISCELLANEOUS EXPENSE

ACCOUNTS NO. 590
DATE PARTICULARS DEBIT CREDIT
14 Paid miscellaneous. 2, 200
 BOO GOO KHO, OWNER
TRIAL BALANCE
28-Mar-19

ACCOUNTS TITLE ACC.# DEBIT CREDIT

Cash 110 47,200
Accounts Receivable 120 21,800
Allowance for Doubtful Accounts 125
Cleaning Supplies 130 15,600
Prepaid Insurance 140 4,800
Cleaning Equipment 150 21,400
Accumulated Depreciation-CE 155
Service Vehicle 160 47,000
Accumulated Depreciation-SV 165
Accounts Payable 210 34,600
Notes Payable 220 37,000
B.G, Capital 310 62,000
B.G, Withdrawal 320 10,000
Cleaning Revenues 410 62,600
Salaries Expense 510 16,300
Rent Expense 520 7,300
Advertising Expense 530 1,700
Telephone Expense 540 900
Insurance Expense 550
Supplies Expense 560
Bad debts Expense 570
Interest Expense 580
Miscellaneous Expense 590 2,200
TOTAL 196,200 196,200

BOO GOO KHO

ADJUSTING ENTRIES
28-Mar-19
DEBIT CREDIT
A. Insurance Expense 800
Prepaid Insurance 800
Recognizing insurance expense.

B. Depreciation Expense (CE) 297.22

Accumulated Depreciation 297.22
Recognizing depreciation expense.

Depreciation Expense (SV) 958.33

 Accumulated Depreciation 958.33
Recognizing depreciation expense.

C. Cleaning Supplies Expense 14,250

Cleaning Supplies 14,250
Recognizing cleaning supplies expense.

D. Doubtful Accounts Expense 1,860

Allowance for Doubtful Accounts 1,860
Recognizing doubtful accounts expense

E. Salaries Expense 1,500

Accrued Salaries 1,500
Recognizing salaries expense
TOTAL 19,665.55 19,665.55

Adjusted Trial Balance

Date Accounts Title ACC.# DEBIT CREDIT
Mach 2019 Cash 110 47,200
Accounts Receivable 120 21,800
Allowance for doubtful accounts 125
Cleaning Supplies 130 15,600
Prepaid Insurance 140 4,800
Cleaning Equipment 150 21,400
Accumulated Depriciation-CE 155
Service Vehicle 160 47,000
Accumulated Depriciation-SV 165
Accouts Payable 210 34,600
Notes Payable 220 37,000
B.G, Capital 310 62,000
B.G, Withdrawals 320 10,000
Cleaning Revenues 410 62,600
Salaries Expense 510 16,300
Rent Expense 520 7,300
Advertising Expense 530 1,700
Telephone Expense 540 900
Insurance Expense 550
Supplies Expense 560
Bad Debts Expense 570
Interest Expense 580
Miscellaneous Expense 590 2,200
TOTAL 196,200 196,200
Depriciation Expense -CE
Depriciation Expense-SV
Accrued Salaries
TOTAL
Net Profit
Grand Total Profit
Income Summary

NOMINAL ACCOUNT DEBIT CREDIT

Cleaning Revenues 62,600

Income Summary 62,600
Close Income

Close Expense against Income Summary

Income Summary 48,065.55
Salaries Expense 17,800
Rent Expense 7,300
Advertising Expense 1,700
Telephone Expense 900
Insurance Expense 800
Supplies Expense 14,250
Bad Debts Expense 2,200
Miscellaneous Expense 1,860
Depreciation Expense (CE) 297
Depreciation Expense (SV) 958

Close Withdrawal against Owner's Capital

B.G Kho, Capital 10,000
B.G Kho, Withdrawal 10,000
Close Withdrawal to Capital

Close Income Summary against Owner's Capital

Income Summary 14,534.45
B.G Kho, Capital 14,534.45
Close Income Summary to Capital
 BOO GOO KHO CLEANERS
BOO GOO KHO
STATEMENT OF FINANCIAL PERFORMANCE
AS OF MARCH 1-28, 2019

INCOME:
Cleaning Revenue 62,600

LESS: OPERATING EXPENSES

Salaries Expense 17,800
Rent Expense 7,300
Advertising Expense 1,700
Telephone Expense 900
Insurance Expense 800
Supplies Expense 14,250
Bad debts Expense 2,200
Miscellaneous Expense 1,860
Depreciation Expense (CE) 297
Depreciation Expense (SV) 958

BOO GOO KHO CLEANERS

BOO GOO KHO
STATEMENT OF CHANGES IN OWNER'S EQUITY
AS OF MARCH 1-28, 2019

B.G Kho, Capital Beginning

Net profit from operation 14,534.45

Less: B.G Kho, Withdrawal

B.G KHO, CAPITAL ENDED

BOO GOO KHO CLEANERS

BOO GOO KHO
STATEMENT OF FINANCIAL POSITION
AS OF MARCH 1-28, 2019

ASSETS
Current Assets:
Cash 47,200
Accounts Receivable 21,800
 Cleaning Supplies 1,350
Prepaid Insurance 4,000
Allowance for doubtful account 1,860
Total Current Assets 72,490

Non-Current Assets:
Cleaning Equipment 21,400
Accumulated Depreciation(CE) -297.22 21,102.78
Service Vehicle 47,000
Accumulated Depreciation(SV) -958.33 46,041.67
Total Current Assets 67,144.45
72,490
139,634.45

LIABILITIES AND OWNER'S EQUITY

Current Liabilities:
Accounts Payable 34,600
Notes Payable 37,000
Accrued Salaries 1,500
Total Current Liabilities 73,100

Owner's Equity
B.G Kho, Capital End 66,534.45
Total Liabilities and Owner's Equity 139,634.45
DR. BAL. CR. BAL.
62,000
52,000
44,700
75,700
74,000
69,200
67,000
58,600
 68,400
66,000
65,100
57,200
47,200

DR. BAL CR. BAL

18,600
8,800
21,800

DR. BAL CR. BAL

15,600

DR.BAL CR.BAL
4,800

DR. BAL CR. BAL

21,400

DR. BAL CR. BAL

47,000

DR. BAL CR. BAL

15,600
37,000
34,600

DR. BAL CR. BAL

37,000
DR. BAL. CR. BAL
62,000

DR. BAL CR. BAL

10,000

DR. BAL CR. BAL

31,000
49,600
62,000

DR. BAL. CR. BAL

8,400
16,300

DR. BAL CR. BAL

7,300

DR. BAL CR. BAL

1,700

DR. BAL CR. BAL

900

DR. BAL CR. BAL

2,200
 BOO GOO KHO CLEANERS
March/1-28/2019
WORKSHEET
Adjusting Entries Adjusted Trial Balance Statement of Financial performance
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
47,200
21,800
1,860 1,860
14,250 1,350
800 4,000
21,400
297 297.22
47,000
958 958.33
34,600
37,000
62,000
10,000
62,600 62,600
1,500 17,800 17,800
7,300 7,300
1,700 1,700
900 900
800 800 800
14,250 14,250 14,250
 1,860 1,860 1,860

2,200

297.22 297 297.22

958.33 958.33 958.33
1,500 1,500
19,665.55 19,665.55 200,815.55 200,815.55 48,065.55 62,600
14,534.45
200,815.55 62,600 62,600
 62,600

48,065.65
14,534.45

62,000
14,534.45
76,534.45
10,000
66,534.45
NERS
9

Statement of Financial Position Closing Entry Post Closing Entry

DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
47,200 47,200
21,800 21,800
1,860 1,860
1,350 1,350
4,000 4,000
21,400 21,400
297.22 297.22
47,000 47,000
958.33 958.33
34,600 34,600
37,000 37,000
62,000 10,000 14,534.45 66,534.45
10,000 10,000
62,600 62,600
17,800
7,300
1,700
900
800
14,250
 1,860

297.22
958.33
1,500 1,500
152,750 138,215.55
14,534.45 62,600 62,600
152,750 152,750 14,534.45
48,065.55
135,200 135,200 205,300 205,350