Journal Entries: Edgar Detoya

EDGAR DETOYA
JOURNAL ENTRIES
Date Account Titles PR
2021
December 1 Cash 110
Detoya, Capital 310
initial investment
2 Rent Expense 530

Cash 110
payment of december rent
2 Supplies 140
Accounts Payable 210
purchase of supplies on account
3 Office Equipment 150

Cash 110
Accounts Payable 210
acquisition of office equipment
8 Accounts Payable 210

Cash 110
payment of payable
### Salaries Expense 510

Cash 110
payment of salaries
### Cash 110
Consulting Revenues 410
consulting revenues earned
### Salaries Expense 510

Cash 110
payment of salaries
### Accounts Receivable 120

december billing for services
### Detoya, Withdrawals 320

Cash 110
cash withdrawal by the owner
adjusting entries
2021
12/31/2021 Supplies Expense 520
Supplies 140
used portion of supplies
Salaries Expense 510

Salaries Payable 220
accrtued salaries
Depreciation Expense 540

Accumulated Depreciation 155
december depreciation
Fees Receivable 130
accrued revenues
CLOSING ENTRIES

2021
Dec-31 Consulting Revenues 410
Income summary 330
to close account with credit balances
Income Summary 330

Salaries Expense 510
Supplies Expense 520
Rent Expense 530
Depreciation Expense 540
to close accounts with debit balances
Income Summary 330

Detoya, Capital 310
to close profit to capital
Detoya, Capital 310

Detoya, Withdrawals 320
to close withdrawal account to capital
EDGAR DETOYA
POST CLOSING TRIAL BALANCE
DECEMBER 31, 2021
ACCOUNT # ACCOUNT TITLES

110 CASH
120 Accounts Receivable
130 Fees Receivable
140 Supplies
150 Office Equipment
155 Accumulated Depreciation
210 Accounts Payable
220 Salaries Payable
310 Detoya, Capital
page1 LEDGERS
Debit Credit Account: CASH
Date
₱ 150,000.00 1/12/2021
₱ 150,000.00 2/12/2021
3/12/2021
3/12/2021
8,000.00 12/14/21
8,000.00 12/20/21
12/28/21
12/31/2021
7,200.00
7,200.00
75,000.00
37,000.00
38,000.00
Account: Accounts Receivable
Date
7,200.00 12/30/2021
7,200.00
6,000.00
6,000.00
Account: Fees Receivable

20,000.00 Date
20,000.00 12/31/21
6,000.00
6,000.00
48,000.00 Account: supplies

48,000.00 Date
2/12/2021
12/31/21
12,000.00
12,000.00
PAGE 2 Account: Office Equipment

Debit Credit Date
3/12/2021
2,500.00
2,500.00
1,800.00
1,800.00
Account: Accumulated Depreciatio
Date
800.00 12/31/21
800.00
10,000.00
10,000.00
Account: Accounts Payable
Date
page 3 2/12/2021
3/12/2021
Debit Credit 8/12/2021
78,000.00
78,000.00
Account: Salaries Payable

25,100.00 Date
13,800.00 12/31/21
2,500.00
8,000.00
800.00
52,900.00
52,900.00
Account: Detoya, Capital
Date
12,000.00 1/12/2021
12,000.00 12/31/21
12/31/21
A
BALANCE
021 Account: Detoya, Withdrawals
Date
DEBIT CREDIT 12/31/2021
₱ 93,800.00 12/31/2021
48,000.00
10,000.00
4,700.00
75,000.00
₱ 800.00
38,000.00 Account: Income Summary
1,800.00 Date
190,900.00 12/31/21
- - 12/31/21
₱ 231,500.00 ₱ 231,500.00 12/31/21
Account: Consulting Revenues
Date
12/20/21
12/30/2021
12/31/21
12/31/21
Account: Salaries Expense

Date
12/14/21
12/28/21
12/31/21
12/31/21
Account: Supplies Expense

Date
12/31/2021
12/31/21
Account: Rent Expense

Date
2/12/2021
12/31/21
Account: Depreciation Expense

Date
12/31/2021
12/31/21
EDGERS
Account: CASH Account No. 110
Explanation J. R Debit Credit Balance
initial investment 1 150,000.00 150,000.00
december rent 1 8,000.00 142,000.00
office equipment 1 37,000.00 105,000.00
supplies 1 7,200.00 97,800.00
salaies 1 6,000.00 91,800.00
revenues earned 1 20,000.00 111,800.00
salaries 1 6,000.00 105,800.00
withdrawal 1 12,000.00 93,800.00
93,800.00
Account: Accounts Receivable Account No. 120
billings for december 1 48,000.00 - 48,000.00
Account: Fees Receivable Account No. 130

december billings 2 10,000.00 10,000.00
10,000.00
Account: supplies Account No. 140
supplies bought 1 7,200.00 7,200.00
used supplies 2 2,500.00 4,700.00
Account: Office Equipment Account No. 150
acquisiton 1 75,000.00 75,000.00
Account: Accumulated Depreciation Account No. 155
decemebr depreciation 2 800.00 800.00

Account: Accounts Payable Account No. 210
supplies 1 7,200.00 7,200.00
office equipment 1 38,000.00 45,200.00
supplies 1 7,200.00 38,000.00
38,000.00
Account: Salaries Payable Account No. 220
accrued salaries 2 1,800.00 1,800.00
1,800.00
Account: Detoya, Capital Account No. 310
initial investment 1 150,000.00 150,000.00
profit 3 52,900.00 202,900.00
withdfrawal 3 12,000.00 190,900.00

Account: Detoya, Withdrawals Account No. 320
cash withdrawal 1 12,000.00 12,000.00
closing entry 3 12,000.00 -
Account: Income Summary Account No. 330
to close credit balances 3 78,000.00 78,000.00
debit balances 3 25,100.00 52,900.00
profit 3 52,900.00 -
Account: Consulting Revenues Account No. 410
revenues earned 1 20,000.00 20,000.00
december billings 1 48,000.00 68,000.00
accrued revenues 2 10,000.00 78,000.00
Account: Salaries Expense Account No. 510

two weeks salaries 1 6,000.00 6,000.00
salaries 1 6,000.00 12,000.00
accrual 2 1,800.00 13,800.00
Account: Supplies Expense Account No. 520

used supplies 2 2,500.00 2,500.00
Account: Rent Expense Account No. 530

december rent 1 8,000.00 8,000.00
Account: Depreciation Expense Account No. 540

december depreciation 2 800.00 800.00
closing entry 3 800.00 -
EDGAR
WOR
FOR THE MONTH END
Account Unadjusted Trial Balance Adjustments
No. Account Titles Dr. Cr. Dr.
110 Cash ₱ 93,800.00
120 Accounts Receivable 48,000.00
130 Fees Receivable 10,000.00
140 Supplies 7,200.00
150 Office Equipment 75,000.00
155 Accumulated Depreciation
210 Accounts Payable ₱ 38,000.00
220 Salaries Payable
310 Detoya, Capital 150,000.00
320 Detoya, Withdrawals 12,000.00
330 Income Summary
410 Consulting Revenues 68,000.00
510 Salaries Expense 12,000.00 1,800.00
520 Supplies Expense 2,500.00
530 Rent Expense 8,000.00
540 Depreciation Expense 800.00
₱ 256,000.00 ₱ 256,000.00 ₱ 15,100.00
PROFIT
EDGAR DETOYA
WORKSHEET
FOR THE MONTH ENDED DECEMBER 31, 2021

REVENUES/EXPENSES
Adjustments Adjusted Trial Balance Income Statement
Cr. Dr. Cr. Dr. Cr.
93,800.00
48,000.00
10,000.00
2,500.00 4,700.00
75,000.00
800.00 800.00
38,000.00
1,800.00 1,800.00
150,000.00
12,000.00
10,000.00 78,000.00 78,000.00
13,800.00 13,800.00
2,500.00 2,500.00
8,000.00 8,000.00
800.00 800.00
₱ 15,100.00 ₱ 268,600.00 ₱ 268,600.00 ₱ 25,100.00 ₱ 78,000.00
52,900.00 -
₱ 78,000.00 ₱ 78,000.00
ASSETS/LIABILITIES/CAPITAL
Balance Sheet
Dr. Cr
93,800.00
48,000.00
10,000.00
4,700.00
75,000.00
800.00
38,000.00
1,800.00
150,000.00
12,000.00
₱ 243,500.00 ₱ 190,600.00
- 52,900.00
₱ 243,500.00 ₱ 243,500.00

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EDGAR DETOYA

2 Rent Expense 530

3 Office Equipment 150

8 Accounts Payable 210

### Salaries Expense 510

### Salaries Expense 510

### Accounts Receivable 120

### Detoya, Withdrawals 320

Salaries Expense 510

Depreciation Expense 540

Date Account Titles PR

Income Summary 330

Income Summary 330

Detoya, Capital 310

ACCOUNT # ACCOUNT TITLES

Account: Fees Receivable

48,000.00 Account: supplies

PAGE 2 Account: Office Equipment

Account: Accounts Payable

Account: Salaries Payable

₱ 231,500.00 ₱ 231,500.00 12/31/21

Account: Consulting Revenues

Account: Salaries Expense

Account: Supplies Expense

Account: Rent Expense

Account: Depreciation Expense

Explanation J. R Debit Credit Balance

initial investment 1 150,000.00 150,000.00

december rent 1 8,000.00 142,000.00

office equipment 1 37,000.00 105,000.00

supplies 1 7,200.00 97,800.00

salaies 1 6,000.00 91,800.00

revenues earned 1 20,000.00 111,800.00

salaries 1 6,000.00 105,800.00

withdrawal 1 12,000.00 93,800.00

Account: Accounts Receivable Account No. 120

Explanation J. R Debit Credit Balance

billings for december 1 48,000.00 - 48,000.00

Account: Fees Receivable Account No. 130

december billings 2 10,000.00 10,000.00

Account: supplies Account No. 140

Explanation J. R Debit Credit Balance

supplies bought 1 7,200.00 7,200.00

used supplies 2 2,500.00 4,700.00

Account: Office Equipment Account No. 150

Explanation J. R Debit Credit Balance

acquisiton 1 75,000.00 75,000.00

Account: Accumulated Depreciation Account No. 155

Explanation J. R Debit Credit Balance

decemebr depreciation 2 800.00 800.00

Explanation J. R Debit Credit Balance

supplies 1 7,200.00 7,200.00

office equipment 1 38,000.00 45,200.00

supplies 1 7,200.00 38,000.00

Account: Salaries Payable Account No. 220

Explanation J. R Debit Credit Balance

accrued salaries 2 1,800.00 1,800.00

Account: Detoya, Capital Account No. 310

Explanation J. R Debit Credit Balance