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    S. Roces (Closing)

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    Jesseric Romero
    The document provides accounting records for S. Roces' air conditioning service and repair shop for the month of April 2018, including transactions related to cash, supplies purchased, jobs completed for customers, payments received, and expenses incurred. It includes a trial balance, income statement, statement of equity, and statement of financial position to summarize the company's financial activities and position for the month.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    S. Roces (Closing)

    Uploaded by

    Jesseric Romero
    214 views11 pages
    The document provides accounting records for S. Roces' air conditioning service and repair shop for the month of April 2018, including transactions related to cash, supplies purchased, jobs completed for customers, payments received, and expenses incurred. It includes a trial balance, income statement, statement of equity, and statement of financial position to summarize the company's financial activities and position for the month.

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    Closing

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    s. Roces (Closing)

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    The document provides accounting records for S. Roces' air conditioning service and repair shop for the month of April 2018, including transactions related to cash, supplies purchased, jobs completed for customers, payments received, and expenses incurred. It includes a trial balance, income statement, statement of equity, and statement of financial position to summarize the company's financial activities and position for the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    214 views11 pages

    S. Roces (Closing)

    Uploaded by

    Jesseric Romero
    The document provides accounting records for S. Roces' air conditioning service and repair shop for the month of April 2018, including transactions related to cash, supplies purchased, jobs completed for customers, payments received, and expenses incurred. It includes a trial balance, income statement, statement of equity, and statement of financial position to summarize the company's financial activities and position for the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 11

    S.

    ROCES CHART OF ACCOUNTS


    APRIL 2018 CASH
    1 S. Roces opened an air-conditioning service and repair shop ACCOUNTS RECEIVABLE
    and began business by investing 150,000 cash and the following additional assets; NOTES RECEIVABLE
    office equipment 35,000; truck 105,000 SUPPLIES
    5 Paid the rent of the shop 5,000 OFFICE EQUIPMENT
    7 Purchased 7,200 of repair supplies on credit from A. Fuentes TOOLS
    9 Purchased for cash a new computer 24,500 VEHICLE
    10 Paid for newspaper advertising 15,000 ACCOUNTS PAYABLE
    15 Completed repair work for S. Valdez and received 4,500 cash CAPITAL
    17 Completed repair work for P. Fernando 14,500. Accepted 5,000 and INCOME
    a promise to pay the balance in 30 days ADVERTISING EXPENSE
    18 Completed repair work for J. Estrada on credit 12,500 RENT EXPENSE
    20 Received 800 from J.Estrada in partial payment of his account
    25 Paid one-half of the account due to A. Fuentes
    F ACCOUNTS

    TS RECEIVABLE

    TS PAYABLE

    SING EXPENSE
    S.ROCES
    GENERAL JOURNAL

    DATE ACCOUNT TITLE AND EXPLANATION P/R DEBIT CREDIT


    1 Cash 150,000
    Office Equipment 35,000
    Tools 16,000
    Vehicle 105,000
    Capital 306,000

    2 Rent Expense 5,000


    Cash 5,000

    3 Supplies 7,200
    Accounts Payable 7,200

    4 Office Equipment 24,500


    Cash 24,500

    5 Advertising 15,000
    Cash 15,000

    6 Cash 4,500
    Income 4,500

    7 Cash 5,000
    Notes Receivable 9,500
    Income 14,500

    8 Accounts Receivable 12,500


    Income 12,500

    9 Cash 800
    Accounts Receivable 800

    10 Accounts Payable 3,600


    Cash 3,600
    CASH BALANCE VEHICLE
    DATE REMARKS DEBIT CREDIT DEBIT CREDIT DATE
    1 150,000 150,000 1
    2 5,000 145,000
    4 24,500 120,500
    5 15,000 105,500 ACCOUNTS PAYABLE
    6 4,500 110,000 DATE
    7 5,000 115,000 3
    9 800 115,800 10
    10 3,600 112,200

    CAPITAL
    ACCOUNTS RECEIVABLE BALANCE DATE
    DATE REMARKS DEBIT CREDIT DEBIT CREDIT 1
    8 12,500 12,500
    9 800 11,700
    INCOME
    DATE
    NOTES RECEIVABLE BALANCE 6
    DATE REMARKS DEBIT CREDIT DEBIT CREDIT 7
    7 9,500 9,500 8

    SUPPLIES BALANCE ADVERTISING EXPENSE


    DATE REMARKS DEBIT CREDIT DEBIT CREDIT DATE
    3 7,200 7,200 5

    OFFICE EQUIPMENT BALANCE RENT EXPENSE


    DATE REMARKS DEBIT CREDIT DEBIT CREDIT DATE
    1 35,000 35,000 2
    4 24,500 59,500

    INCOME SUMMARY
    TOOLS BALANCE DATE
    DATE REMARKS DEBIT CREDIT DEBIT CREDIT
    1 16,000 16,000

    DATE
    VEHICLE BALANCE
    REMARKS DEBIT CREDIT DEBIT CREDIT
    105,000 105,000

    ACCOUNTS PAYABLE BALANCE


    REMARKS DEBIT CREDIT DEBIT CREDIT
    7,200 7,200
    3,600 3,600

    CAPITAL BALANCE
    REMARKS DEBIT CREDIT DEBIT CREDIT
    306,000 306,000

    INCOME BALANCE
    REMARKS DEBIT CREDIT DEBIT CREDIT
    4,500 4,500
    14,500 19,000
    12,500 31,500

    ADVERTISING EXPENSE BALANCE


    REMARKS DEBIT CREDIT DEBIT CREDIT
    15,000 15,000

    RENT EXPENSE BALANCE


    REMARKS DEBIT CREDIT DEBIT CREDIT
    5,000 5,000

    INCOME SUMMARY BALANCE


    REMARKS DEBIT CREDIT DEBIT CREDIT

    BALANCE
    REMARKS DEBIT CREDIT DEBIT CREDIT
    S.ROCES S.ROCES
    UNADJUSTED TRIAL BALANCE STATEMENT OF EQUITY
    DATE DATE
    Cash 112,200 Beginning Capital
    Accounts Receivable 11,700 Less: Drawing
    Notes Receivable 9,500 Net Capital
    Supplies 7,200 Add: Net Income
    Tools 16,000
    Vehicle 105,000 Capital Feb,29,2020
    Accounts Payable 3,600
    Capital 306,000
    Income 31,500
    Advertising Expense 15,000
    Rent Expense 5,000

    TOTAL 281,600 341,100

    S.ROCES
    STATEMENT OF PERFORMANCE
    DATE
    Income 31,500
    Less: OPERATING EXPENSE
    Advertising Expense 15,000
    Rent Expense 5,000 20,000

    NET INCOME 11,500


    S.ROCES S.ROCES
    ATEMENT OF EQUITY STATEMENT OF FINANCIAL POSITION
    DATE DATE
    306,000 ASSETS
    0 Current
    306,000 Cash 112,200
    11,500 Accounts Receivable 11,700
    Notes Receivable 9,500
    317,500 Supplies 7,200 140,600
    Non-Current
    Office Equipment 59,500
    Tools 16,000
    Vehicle 105,000 180,500

    TOTAL ASSETS 321,100

    LIABILITIES and OWNERS EQUITY


    Current Liabilities
    Accounts Payable 3,600
    Owner's Equity
    Capital 317,500

    TOTAL LIABILITIES AND OWNERS EQUITY 321,100


    S.ROCES
    GENERAL JOURNAL

    DATE ACCOUNT TITLE AND EXPLANATION P/R DEBIT CREDIT


    31 Income 31,500
    Income Summary 31,500
    To close Income Account

    31 Income Summary 20,000


    Advertising Expense 15,000
    Rent Expense 5,000
    To close Expense Account

    31 Income Summary 11,500


    Capital 11,500
    To close Income Summary
    S.ROCES
    POST CLOSING TRIAL BALANCE
    DATE
    Cash 112,200
    Accounts Receivable 11,700
    Notes Receivable 9,500
    Supplies 7,200
    Office Equipment 59,500
    Tools 16,000
    Vehicle 105,000
    Accounts Payable 3,600
    Capital 317,500
    TOTAL 321,100 321,100

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