JOSEPH LANDSCAPING

TRIAL BALANCE
December 31,2023

Nov 30 2023 Balance

ACCOUNT TITLE DEBIT
Current Asset Cash In Bank 95,000
Current Asset Petty Cash Fund 10,000
Non-Current Asset Investments In Trading Securities 100,000
Current Asset Accounts Receivable 95,000
Current Contra-Asset Allowance For Doubtful Accounts
Current Asset Notes Receivable
Current Asset Interest Receivable
Current Asset Merchandise Inventory 17,800
Current Asset Office Supplies On Hand 10,500
Store Supplies On Hand 15,000
Non-Current Asset Land 400,000
Non-Current Asset Buildings 440,000
Non-Current Contra-Asset Accumulated Depreciation - Bldg
Non-Current Asset Equipment 220,000
Non-Current Contra-Asset Accumulated Depreciation - Equipment
Non-Current Asset Furniture And Fixtures 120,000
Non-Current Contra-Asset Accumulated Depreciation - Furniture And Fixture

Current Liabilities Accounts Payable

Current Liabilities Notes Payable
Current Liabilities Withholding Tax Payable
Current Liabilities Utilities Payable
Current Liabilities Interest Payable
Non-Current Liabilities Mortgage Payable
Equity Joseph De Jesus, Capital
Equity Joseph De Jesus, Drawing 10,000

Revenue Service Income

Revenue Sales
Contra-Revenue Sales Discounts 15,000
Contra-Revenue Sales Returns And Allowances 12,500
Revenue Interest Income
Expense Purchases 325,000
Contra-Expense Purchases Discounts
Contra-Expense Purchase Returns And Allowances
Expense Freight In 6,850
Expense Freight Out 9,500
Expense Salaries And Wages Expense 194,000
Expense Depreciation Expense
Expense Utilities Expense 26,000
Expense Insurance Expense 28,450
Expense Store And Office Supplies Expense
Expense Repair And Maintenance Expense 16,750
Expense Sss,Philhealth And Pagibig Expense 11,550
Expense Doubtful Accounts Expense
Expense Miscellaneous Expense 12,400
Expense Merchandise Inventory Expense
Expense Interest Expense 6,400
TOTAL 2,197,700
30 2023 Balance Dec2023 Transactions Unadjusted Trial Balance Adjusting Entries
CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT
149,010 41,520 202,490 a) 200
10,000
100,000
115,000 65,000 145,000
7,000 7,000 e)
20,000 0 20,000
0
20,000 8,000 29,800
10,500 d)
15,000 d)
400,000
440,000
57,600 57,600 f)
220,000
50,000 50,000 f)
120,000
44,000 44,000 f)

37,000 24,500 25,000 37,500

12,000 12,000
5,600 5,600
0 a)
0 c)
200,000 200,000
842,950 20,000 862,950
8,000 18,000

140,000 80,000 220,000

776,850 140,000 916,850
490 15,490
2,000 14,500
0 a)
25,000 350,000
10,000 480 10,480
14,700 1,000 15,700
800 7,650
1,200 10,700
 194,000
0 f) 75,800
26,000 b) 7,200
28,450
15,000 15,000
16,750 28,580
11,550
0 e) 4,600
12,400
0 g) 16,950
6,400 c) 330
2,197,700 381,000 381,000 2,439,680 2,439,680 133,660
0 0 0
usting Entries Adjusted Trial Balance Asset Liabilities Income
CREDIT DEBIT CREDIT
202,690
10,000
100,000
145,000
4,600 11,600
20,000
0
16,950 12,850
14,080 -3,580
14,500 500
400,000
440,000
28,800 86,400
220,000
25,000 75,000
120,000
22,000 66,000

37,500
12,000
5,600
7,200 7,200
330 330
200,000
862,950
18,000

220,000
916,850
15,490
14,500
200 200
350,000
10,480
15,700
7,650
10,700
 194,000
75,800
33,200
28,450
15,000
45,330
11,550
4,600
12,400
16,950
6,730
133,660 2,527,810 2,527,810
0 0
Expense
 Dec 1 Notes Receivable
Dec 1 Sales
Dec 1 Sold Merchandise to Argem Daycare Center, 20,000
Dec 2 Purchases
Dec 2 Freight in
Dec 2 Cash In Bank
Dec 2 Accounts Payable
Dec 2 Purchased merchandise from Stephen Trading, 25,000
Dec 3 Cash In Bank
Dec 3 Accounts Receivable
Dec 3 Service Income
Dec 3 Rendered landscaping Service to Guadalupe's Garden, 30,000
Dec 4 Cash In Bank
Dec 4 Accounts Receivable
Dec 4 Freight out
Dec 4 Sales
Dec 4 Cash In Bank
Dec 4 Sold Merchandise to Emmanuel Merchandisinhg, 70,000
Dec 5 Accounts Payable
Dec 5 PURCHASE RETURNS AND ALLOWANCES
Dec 5 Issued debit memorandum, 500
Dec 6 Merchandise Inventory
Dec 6 Joseph de Jesus, Capital
Dec 6 Joseph made investment in form of merchandise, 20,000
Dec 7 Sales Returns and Allowances
Dec 7 Accounts Receivable
Dec 7 Issued credit memorandum, 1,000
Dec 8 Cash In Bank
Dec 8 Sales
Dec 8 Sold Merchandise to Rafael Novelty Shop. 50,000
Dec 9 Accounts Payable
Dec 9 Purchases Discounts
Dec 9 Cash In Bank
Dec 9 Made Partial Payment to Stephen Trading. 5,000
Dec 10 Store and Office Supplies On hand
Dec 10 Cash In Bank
Dec 10 Accounts Payable
Dec 10 Purchased additional store supplies from Gabriel supermart, 15,000
Dec 12 Accounts Payable
Dec 12 Purchases Discounts
Dec 12 Cash In Bank
Dec 12 Paid Stephen Trading in full. 9,500
Dec 15 Joseph de Jesus, Drawing
Dec 15 Merchandise Inventory
Dec 15 Joseph de Jesus, withdrew 8,000
Dec 17 Cash In Bank
Dec 17 PURCHASE RETURNS AND ALLOWANCES
Dec 17 Returned merchandise to Gabriel Supermart, 500
Dec 19 Cash In Bank
Dec 19 SALES DISCOUNTS
Dec 19 Accounts Receivable
Dec 19 Collected in full the receivable from Emmanuel Merchandising, 50,000
 Dec 20 Accounts Payable
Dec 20 Purchases Discounts
Dec 20 Cash In Bank
Dec 20 Paid Gabriel Supermart in full. 9,500
Dec 26 Sales Returns and Allowances
Dec 26 Cash In Bank
Dec 26 Rafael Novelty Shop Returned defective merchandise. 1,000
Dec 28 Accounts Receivable
Dec 28 Service Income
Dec 28 Rendered landscaping Service to Shalom House of Prayer
Dec 31 Cash In Bank
Dec 31 Accounts Receivable
Dec 31 Collected in full the receivable from Emmanuel Merchandising, 15,000

Adjusting Journal Entries

a) Cash
Interest Income
To record interest earned, 20000, 12%

b) Utilities Expense
Utilities Payable
To record unpaid utility expense for December

c) Interest expense
Interest Payable

d) Store and Office Supplies Expense

Store And Office Supplies On Hand

e) Doubtful Accounts Expense

Allowance For Doubtful Accounts
Doubtful Accounts at 8% of Outstanding AR Balance

f) Depreciation Expense
Accumulated Depreciation - Bldg
Accumulated Depreciation - Equipment
Accumulated Depreciation - Furniture And Fixture

g) Merchandise Inventory Expense

Mechandise Inventory
DR CR Dr
20,000 Notes Receivable
20,000 Sales
Purchases
25,000 Freight in
800 Cash In Bank
10,800 Accounts Payable
15,000 Accounts Receivable
Service Income
15,000 Freight out
15,000 PURCHASE RETURNS AND ALLOWANCES
30,000 Merchandise Inventory
Joseph de Jesus, Capital
20,000 Sales Returns and Allowances
50,000 Purchases Discounts
1,200 Store and Office Supplies On hand
70,000 Joseph de Jesus, Drawing
1,200 SALES DISCOUNTS

500
500

20,000
20,000

1,000
1,000

50,000
50,000

5,000
100
4,900

15,000
5,000
10,000

9,500
190
9,310

8,000
8,000

500
500

48,510
490
49,000
 9,500
190
9,310

1,000
1,000

50,000
50,000

15,000
15,000

200
200

7,200
7,200

330
330

28,580
28,580

4,600
4,600

75,800
28,800
25,000
22,000

16,950
16,950
514,660 514,660
Ex 1-2 425400 283040
Notes Receivable

12/1 20,000 12/1

12/4
12/8

BALANCE 20,000 0 BALANCE

PURCHASES

12/2 25,000 12/2

BALANCE 25,000 0 BALANCE

CASH

12/2 10,800 12/2

12/3 15,000
12/4 20,000 12/5
12/4 1,200 12/9
12/8 50,000 12/10
12/9 4,900 12/12
12/10 5,000 12/20
12/12 9,310
12/17 500
12/19 48,510
12/20 9,310
12/26 1,000
12/31 15,000

BALANCE 149,010 41,520 BALANCE

SERVICE INCOME

12/3 30,000 12/3

12/28 50,000 12/4
12/7
 12/19
12/28
12/31

BALANCE 0 80,000 BALANCE

FREIGHT OUT PURCHASE RETURN

12/4 1,200 12/5

12/17

BALANCE 1,200 0 BALANCE

JOSEPH DE JESUS, CAPITAL

12/6 20,000 12/6

12/15

BALANCE 0 20,000 BALANCE

SALES RETURNS AND ALLOWANCES

12/7 1,000 12/9

12/26 1,000 12/12
12/20

BALANCE 2,000 0 BALANCE

STORE AND OFFICE SUPPLIES ON HAND JOSEPH DE JE

12/10 15,000 12/15

BALANCE 15,000 0 BALANCE

SALES DISCOUNTS
 12/19 490

BALANCE 490 0 BALANCE

 336600 478960 762000 762000
SALES

20,000
70,000
50,000

0 140000

FREIGHT-IN

800

800 0

ACCOUNTS PAYABLE

15,000

500
5,000
10,000
9,500
9,500

24,500 25,000

ACCOUNTS RECEIVABLE

15,000
50,000
1,000
 49,000
50,000
15,000

115,000 65,000

PURCHASE RETURNS AND ALLOWANCES

500
500

0 1,000

MERCHANDISE INVENTORY

20,000
8,000

20,000 8,000

Purchases Discounts

100
190
190

0 480

JOSEPH DE JESUS, DRAWING

8,000

8,000 0
0 0
0
1-4 f)

Descriptio Date of Est useful Salvage Annual Accumulated

n Purchase Life Cost Value Depreciation Depreciation
Building 2 15 440,000 8,000 28,800 57,600
Equipment 2 8 220,000 20,000 25,000 50,000
Furniture 2 5 120,000 10,000 22,000 44,000
780,000 38,000 75,800 151,600

1-4 e)
Accounts Receivable, Dec31 145,000
8%
Allowance for Doubtful, End 11,600 Required
less: Allowance for Doubtful, Beg 7,000
Doubtful Accounts Expense 4,600

1-4 g) MERCHANDISE INVENTORY

Beg 17,800
12/6 20,000
12/15 8,000

29,800
g) Adj 16,950

End 12,850

1-6
3
Cash Sales
Cash from landscaping services
Collections on accounts receivable
Payment of account purchaes
Payment for various operating expense
Payment of Interest
Partial Payment of bank loan (part of mortgage payable)