JOURNAL

Date

Dec 01

Dec 02

Dec 03

Dec 04

Dec 05

Dec 06

Dec 06

Dec 13

Dec 15
Dec 20

Dec 27

Dec 30

JOURNAL
Date

Dec 31

Dec 31

Dec 31

Dec 31

Dec 31
 JOURNAL
Account Titles Debit

Cash 2,000,000
Mr. A, Capital
To record cash deposit from the owner

Taxes and Licenses 120,000

Cash
To record payment of taxes and licenses

Prepaid Rent 360,000

Cash
To record payment of one-year rent

Equipment 72,000
Accounts Payable
To record purchase of office equipment on account

Supplies Expense 15,000

Accounts Payable
To record purchase of supplies on account

Advertising Expense 2,000

Cash
To record payment of advertising fee

Accounts Payable 72,000

Cash
To record payment of office equipment

Accounts Payable 15,000

Cash
To record payment for supplies expense

Furnitures and Fixtures 36,000

Cash
To record purchase of furnitures and fixtures

Cash 55,000
Service Fees
To record billing for services rendered

Salaries Expense 13,500

Cash
To record payment of salaries to personnel
Cash 35,000
Accounts Receivable 13,000
Service Fees
To record billing for services rendered

Cash 68,000
Accounts Receivable
Unearned Income
Service Fees
To record payment for services fee, unearned income and advances

Salaries Expense 22,500

Cash
To record payment of salaries to personnel

Utilities Expense 3,800

Accounts Payable
To record billing for utilities

JOURNAL
Account Titles Debit

Depreciation Expense 2,000

Accumulated Depreciation - Equipment
To record one-month depreciation of equipment

Depreciation Expense 1,500

Accumulated Depreciation - Furnitures and Fixtures
To record one-month depreciation of equipment

Bad Debts Expense 1,000

Allowance for Bad Debts
To record bad debts expense

Prepaid Supplies 10,000

Supplies Expense
To record supplies expense

Rent Expense 30,000

Prepaid Rent
Credit

2,000,000

120,000

360,000

72,000

15,000

2,000

72,000

15,000

36,000

55,000

13,500
 48,000

3,000
5,000
60,000

22,500

3,800

Credit

2,000

1,500

1,000

10,000

30,000
 Cash
Dr Cr
Dec 01 2,000,000 Dec 02 120,000
Dec 13 55,000 Dec 02 360,000
Dec 20 35,000 Dec 05 2,000
Dec 27 68,000 Dec 05 72,000
Dec 06 15,000
Dec 06 36,000
Dec 15 13,500
Dec 30 22,500

Balance 1,517,000

Accounts Receivable
Dr Cr
Dec 20 13,000 Dec 17 3,000

Balance 10,000

Prepaid Rent
Dr Cr
Dec 02 360,000

Balance 360,000

Equipment
Dr Cr
Dec 03 72,000

Balance 72,000

Furnitures and Fixtures

Dr Cr
Dec 06 36,000

Balance 36,000
 Accounts Payable
Dr Cr
Dec 05 72,000 Dec 03 72,000
Dec 06 15,000 Dec 04 15,000
Dec 30 3,800

Balance 3,800

Unearned Income
Dr Cr
Dec 27 5,000

Balance 5,000

Mr. A's Capital

Dr Cr
Dec 01 2,000,000

Balance 2,000,000

Service Fees
Dr Cr
Dec 13 55,000
Dec 20 48,000
Dec 27 60,000

Balance 163,000

Salaries Expense
Dr Cr
Dec 15 13,500
Dec 30 22,500

Balance 36,000

Utilities Expense
Dr Cr
Dec 30 3,800
Balance 3,800

Supplies Expense
Dr Cr
Dec 04 15,000

Balance 15,000

Advertising Expense
Dr Cr
Dec 05 2,000

Balance 2,000

Taxes and Licenses

Dr Cr
Dec 02 120,000

Balance 120,000
 Aroma Wellness Spa
Unadjusted Trial Balance
December 31, 2021

Account Title Debit Credit

Cash ₱ 1,517,000
Accounts Receivable 10,000
Prepaid Rent 360,000
Equipment 72,000
Furnitures and Fixtures 36,000
Accounts Payable ₱ 3,800
Unearned Income 5,000
Mr. A's Capital 2,000,000
Service Fees 163,000
Salaries Expense 36,000
Utilities Expense 3,800
Supplies Expense 15,000
Advertising Expense 2,000
Taxes and Licenses 120,000
TOTAL ₱ 2,171,800 ₱ 2,171,800
 Aroma Wellness Spa
Worksheet
October 31, 2021

Unadjusted Trial Balance Adjustments

Accounts Dr Cr Dr Cr
Cash ₱ 1,517,000
Accounts Receivable 10,000
Prepaid Rent 360,000 ₱ 30,000
Equipment 72,000
Furnitures and Fixtures 36,000
Accounts Payable ₱ 3,800
Unearned Income 5,000
Mr. A's Capital 2,000,000
Service Fees 163,000
Salaries Expense 36,000
Utilities Expense 3,800
Supplies Expense 15,000 10,000
Advertising Expense 2,000
Taxes and Licenses 120,000
TOTAL ₱ 2,171,800 ₱ 2,171,800
Bad Debts Expense ₱ 1,000.00
Allowance for Bad Debts 1,000
Accumulated Depreciation - Equipment 2,000
Accumulated Depreciation - Furnitures and Fixtures 1,500
Depreciation Expense 3,500
Prepaid Supplies 10,000
Rent Expense 30,000
₱ 44,500 ₱ 44,500
oma Wellness Spa
Worksheet
October 31, 2021

Adjusted Trial Balance Income Statement Balance Sheet

Dr Cr Dr Cr Dr Cr
₱ 1,517,000 ₱ 1,517,000
10,000 10,000
330,000 330,000
72,000 72,000
36,000 36,000
3,800 PHP 3,800.00
₱ 5,000 ₱ 5,000
2,000,000 2,000,000
163,000 163,000
36,000 36,000
3,800 3,800
5,000 5,000
20,000 20,000
120,000 120,000

1,000 1,000
1,000 1,000
2,000 2,000
1,500 1,500
3,500 3,500
10,000 10,000
30,000 30,000
₱ 2,194,300 ₱ 2,176,300 ₱ 219,300 ₱ 163,000 ₱ 1,975,000 ₱ 2,013,300
56,300 56,300
₱ 219,300 ₱ 219,300 ₱ 2,031,300 ₱ 2,013,300
 Closing Entries Post-Closing Trial Balance
Dr Cr Dr Cr
₱ 1,517,000
10,000
330,000
72,000
36,000
-
5,000
1,943,700 2,000,000
163,000
36,000
3,800
5,000
20,000
120,000

1,000
1,000

3,500

30,000
₱ 2,106,700 ₱ 219,300 ₱ 1,965,000 ₱ 2,006,000
 JOURNAL
Date Account Titles

Dec 31 Service revenue

Salaries Expense
Rent Expense
Utilities Expense
Supplies Expense
Bad Debts Expense
Depreciation Expense
Income Summary
To close income and expense accounts

Dec 31 Income summary

Owner's capital
To close the income summary to equity
Debit Credit

73,000
36,000
30,000
3,800
5,000
6,800
3,500
152,100

152,100
152,100