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    Debit Credit Debit 110 75,000 120 8,000 150 12,000 170 150,000 60,000

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    Debit Credit Debit 110 75,000 120 8,000 150 12,000 170 150,000 60,000

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    Janes Malaluan
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    7 views10 pages

    Debit Credit Debit 110 75,000 120 8,000 150 12,000 170 150,000 60,000

    Uploaded by

    Janes Malaluan
    Activity

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 10

    De Guzman Legal Serv

    WORKSHEET
    Dec. 31, 2015

    Unadjusted Trial Balance Adjustments


    Debit Credit Debit
    110 Cash 75,000
    120 Office Supplies 8,000
    150 Prepaid Insurance 12,000
    170 Office Equipment 150,000
    Computer Equipment 60,000
    Accumulated Depreciation (OE)
    Accumulated Depreciation (CE)
    210 Notes Payable 50,000
    220 Account Payable 5,000
    Salaries Payable
    310 De Guzman, Capital 114,000
    320 De Guzman, Withdrawals 35,000
    410 Consulting Revenues 390,000
    Rent Expense 50,000
    510 Salaries Expense 120,000 (e) 3,000
    Telephone Expense 10,000
    550 Utilities Expense 39,000
    Office Supplies Exepense (a) 5,000
    Insurance Expense (d) 1,000
    Depreciation Expense (OE) (b) 30,000
    Depreciation Expense (CE) (c) 10,000
    559,000 559000 49,000
    Profit
    De Guzman Legal Services
    WORKSHEET
    Dec. 31, 2015

    Adjustments Adjusted Trial Balance Income Statement Balance Sheet


    Credit Debit Credit Debit Credit Debit
    75,000 75,000
    (a) 5,000 3,000 3,000
    (d) 1,000 11,000 11,000
    150,000 150,000
    60,000 60,000
    (b) 30,000 30,000
    (c) 10,000 10,000
    50,000
    5,000
    (e) 3,000 3,000
    114,000
    35,000 35,000
    390,000 390,000
    50,000 50,000
    123,000 123,000
    10,000 10,000
    39,000 39,000
    5,000 5,000
    1,000 1,000
    30,000 30,000
    10,000 10,000
    49,000 602,000 602000 268,000 390,000 334,000
    122,000
    390,000 390,000 334,000
    Balance Sheet
    Credit

    30,000
    10,000
    50,000
    5,000
    3,000
    114,000

    212000
    122,000
    334,000
    Journalize the adjusting entries

    Date Account titles and explanation PR Debit


    2015
    Dec. 31 Office Supplies Expense 5,000
    Office Supplies

    31 Depreciation Expense Office Equipment 30,000


    Accumulated Depreciation Office Equipment

    31 Depreciation Expense Computer Equipment 10,000


    Accumulated Depreciation Computer Equipment

    31 Insurance Expense 1,000


    Prepaid Insurance

    31 Salaries Expense 3,000


    Salaries Payable
    Credit

    5,000

    30,000

    10,000

    1,000

    3,000
    Warlito Blanche Graphic Arts
    Income Statement
    For the Year-end 2015

    Revenues
    Art Revenues
    Less: Expenses
    Advertising Expense 105,000
    Depreciation Expense - Building 30,000
    Depreciation Expense - Equipment 30,000
    Interest Expense 37,000
    Miscellaneous Expense 24,600
    Representation Expense 164,000
    Salaries Expense 673,200
    Travel Expense 159,000
    Net Income
    1,437,500

    1,222,800
    214,700
    Warlito Blanche Graphic Arts
    Statement of Changes in Equity
    For the Year-end 2015

    Owner's Equity, Beginning ₱50,500.00


    Add: Additional Investments ₱75,000.00
    Profit 214,700 ₱289,700.00
    Total ₱340,200.00
    Less: Withdrawals (148,600)
    Owner's Equity, Ending ₱191,600.00
    Warlito Blanche Graphic Arts
    Balance Sheet
    For the Year-end 2015

    Assets
    Current Assets: Current Liabilites:
    Cash ₱36,200.00 Accounts Payable
    Account Receivable 219,000 Mortgage Payable
    Office Supplies 17,200 Notes Payable
    Total Current Assets ₱272,400.00 Salaries Payable
    Noncurrent Assets: Total Current Liabilities
    Building ₱450,000.00 Noncurrent Liabilities
    Equipment 217,000 Total Liabilites
    Land 120,000
    Less: Accu. Dep. Building (60,000) Blanche, Capital
    Accu. Dep. Equip (60,000) 667,000 Total Liabilities and Equity
    Total Assets ₱939,400.00
    Liabilities and Equity

    ₱122,500.00
    395,000
    213,000
    17,300
    ₱747,800.00
    0
    ₱747,800.00

    191,600
    s and Equity ₱939,400.00

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