Resty Consulting Services SALES ON ACCOUNT Accounts Receivable, (Service Rev

Book of Cash Receipt/Cash Reciept Books CASH SALES Cash, (Service Revenue)
For the month of May, 2024 COLLECTIONS Cash, (Accounts Receivable)
Debit Debit
1 2

Date OR No./SI Accounts

2024 Description No. Cash Receivable
1 May-01 Service for the day 0001 5,000.00
2 02 Service for the day 0002 10,000.00
3 03 Service for the day 0003 30,000.00
4 04 No Transaction
5 05 No Transaction
6 06 Collection from SI 0001 5,000.00
7 07
8
9
10
Total 15,000.00 35,000.00

Entry:

Cash 15,000.00
Accounts Receivable 35,000.00
Service Revenue 45,000.00
Accounts Receivable 5,000.00
50,000.00 50,000.00
unts Receivable, (Service Revenue)
, (Service Revenue)
, (Accounts Receivable)
Credit Credit
3 4 5 6 7

(Service (Accounts Sundries

Revenue) Receivable) Account Title Amount Balance
(5,000.00) 0.00 1
(10,000.00) 0.00 2
(30,000.00) 0.00 3
0.00 4
0.00 5
(5,000.00) 0.00 6
0.00 7
0.00 8
0.00 9
0.00 10
(45,000.00) (5,000.00) 0.00 0.00
Account Category Account Title Debit Credit
Asset 100 Cash on Hand I D
Asset 101 Cash in Bank I D
Asset 102 Accounts Receivable I D
Asset 103 Inventory I D
Asset 104 Prepayment I D
Asset 105 Building I D
Asset - Contra 106 Accumulated Depreciation - Bldg D I
Asset 107 Furniture & Fixtures I D
Asset - Contra 108 Acc. Depreciation - F&F D I
Asset 109 Machinery & Equipment I D
Asset - Contra 110 Acc. Depreciation - M&E D I
Liabilities 200 Accounts Payable D I
Liabilities 201 Notes Payable D I
Liabilities 202 Loans Payable D I
Capital 300 Owner's Equity D I
Capital 301 Owner's Drawings I D
Revenue 400 Sales D I
Expenses 500 Expenses I D
Normal Balance
Debit
Debit
Debit
Debit
Debit
Debit
Credit
Debit
Credit
Debit
Credit
Credit
Credit
Credit
Credit
Debit
Credit
Debit
 Bora-Kaye Salon
CHART OF ACCOUNTS

Account Code Account Title

101 Cash
112 Account Receivable
126 Supplies Inventory
157 Equipment
158 Furnitures and Fixtures
201 Account Payable
203 Loans Payable
206 Unearned Revenue
301 Kaye Bora, Capital
306 Kaye Bora, Drawings
426 Service Revenue
526 Salaries Expense
532 Utilities Expense electricity, water, communication (PLDT calls, internet), CUSA
n (PLDT calls, internet), CUSA
 Bora-Kaye Salon
Post ClosingTrial Balance
As of June 30, 2023

Account Title Debit Credit

101 Cash 7,750.00
112 Accounts Receivable 3,320.00
126 Supplies Inventory 900.00
157 Equipment 10,000.00
201 Accounts Payable 4,500.00
206 Unearned Revenue 800.00
301 Kaye Bora, Capital 16,670.00
21,970.00 21,970.00

*No Revenue and Expenses - every month-end it is being closed to Capital account.
 Ref No. Date Transaction
OR # 2023-0088 7/5/2023 Received Php 550.00 cash from customer (Winston)
on account
Billing # SI 456 7/10/2023 Billed customer Eybisi for services perfomed
amounting to Php 7,300.00
Voucher # 2023-07-001 7/15/2023 Paid employee salaries of Php 1,800.00

OR # 2023-0085 7/16/2023 Performed Php 800.00 worth of services to

customer who paid in advance in June
Voucher # 2023-06-003 7/20/2023 Paid Php 3,000.00 to creditors on account, Ekswaizi
Co.
OR # 2023-0089 7/21/2023 Received Php 500.00 for services rendered on cash

Voucher # 2023-07-002 7/26/2023 Purchased supplies on account to Esem Inc, at a cost

of Php 250.00
Voucher # 2023-07-003 7/29/2023 Kaye withdrew Php 1,000.00 for personal use.

Voucher # 2023-07-004 7/30/2023 Paid Utilities Php 600.00

Check # 000356287 7/31/2023 Received the proceeds of loan from City Bank with
the amount of Php 50,000.00 payable in 2 years with
1% interest per annum
Voucher # 2023-07-005 7/31/2023 Purchased 3pcs. cabinet cash to Tabhlah Inc. for
Php 15,000.00
Voucher # 2023-07-006 7/31/2023 Paid employee salaries of Php 2,500.00
Analysis
Collection of receivable

Record sales on
account
Record salaries

Record completion of
service
Record payment on
account
Cash sales

Purchased on account

Owners withdrawal

Paid utilities

Received loan

Purchase of 3 pcs cabinet

Salaries for July 31

 General Journal
CAPITAL/INVESTMENT LOANS ADJUSTING ENTRY CLOSING ENTRY

1 BOA-B DATE Acct Code / Acct Title Description Ref No. DEBIT CREDIT
2 BCR July 5 101 Cash OR# 2023-0088 550.00
3 112 Account Receivable 550.00
To record collection of accounts receivable from Winston
4 (customer)
5
6 BCR 10 112 Account Receivable SI# 456 7,300.00
7 426 Service Revenue 7,300.00
8 To record billed transaction to customer Eybisi.
9
10 BCD 15 526 Salaries Expense 2023-07-001 1,800.00
11 101 Cash 1,800.00
12 To record salaries for July 15.
13
14 GJ 16 206 Unearned Revenue OR# 2023-0085 800.00
15 426 Service Revenue 800.00
To record completion of service for advance payment from
16 customer received last June 2023
17
18 BCD 20 201 Accounts Payable 2023-06-003 3,000.00
19 101 Cash 3,000.00
20 To record payment to creditor amounting to P3,000.00 Vendor name: Ekswaizi Co.
21
22 BCR 21 101 Cash OR# 2023-0089 500.00
23 426 Service Revenue 500.00
24 To record cash sales
25
26 BCD 26 126 Supplies Inventory 2023-07-002 250.00
27 201 Account Payable 250.00
28 To record purchase of supplies on account to Esem Inc
29
30 GJ 29 306 Kaye Bora, Drawings 2023-07-003 1,000.00
31 101 Cash 1,000.00
32 To record withdrawal of Kaye Bora
33
34 BCD 30 532 Utilities Expense 2023-07-004 600.00
35 101 Cash 600.00
36 To record payment for utilities, water billing for July 2023
37
38 GJ 31 101 Cash 000356287 50,000.00
39 203 Loans Payable 50,000.00
40 To record loan proceeds from City Bank payable in 2 years with 1% interest per an
41
42 BCD 31 158 Furniture and fixtures 2023-07-005 15,000.00
43 101 Cash 15,000.00
44 To record purchase of cabinet
45
46 BCD 15 526 Salaries Expense 2023-07-006 2,500.00
47 101 Cash 2,500.00
48 To record salaries for July 31.
49 83,300.00 83,300.00
 OTHERS

June entry
Cash 800.00
Unearned revenue 800.00

Vendor name: Ekswaizi Co.

rs with 1% interest per annum

 Bora-Kaye Salon SALES ON ACCOUNT
Book of Cash Receipt/Cash Reciept Books CASH SALES
For the month of July, 2023 COLLECTIONS
Debit Debit
1 2
OR
No./Sales Accounts
Date Description Inv Cash Receivable
1 July 5 Collection from Winston OR 88 550.00
2 10 Billed customer Eybisi SI 456 7,300.00
3 Jan-17 Completion of advance payment from CusOR 85
4 21 Cash sales OR 89 500.00
5
6
7
8
9
10
Total 1,050.00 7,300.00

Entry:

Cash 1,050.00
Accounts Receivable 7,300.00
Sales Discount 0.00
Service Revenue 8,600.00
Accounts Receivable 550.00
Unearned Revenue 800.00
9,150.00 9,150.00
Debit Credit Credit
3 4 5 6 7 8
Service
Revenue (Service (Accounts
Discount Revenue) Receivable) Sundries Balance
(550.00) Account Title 0.00 0.00 1
(7,300.00) 0.00 2
(800.00) Unearned Reven 800.00 0.00 3
(500.00) 0.00 4
0.00 5
0.00 6
0.00 7
0.00 8
0.00 9
0.00 10
0.00 (8,600.00) (550.00) 800.00 0.00
 Bora-Kaye Salon PURCHASE ON ACCOUNT
Book of Cash Disbursement / Cash Disbursement Book CASH PAYMENT
For the month of July, 2023
Credit
1

Check/
Voucher
Date Description Number (Cash)
1 July 15 Salaries July 15 001 (1,800.00)
2 20 Payment to creditor Ekwaizi 003 (3,000.00)
3 26 Purchase of supplies on account to Esem Inc 002
4 30 Payment of water bill 004 (600.00)
5 31 Purchase of 3pcs of Cabinet 005 (15,000.00)
6 31 Salaries July 31 006 (2,500.00)
7
8
9
10
Total (22,900.00)

Entry
Accounts Payable 3,000.00
Salaries Expense 4,300.00
Rent Expense 0.00
Utilities 600.00
Supplies 250.00
Furniture 15,000.00
Cash 22,900.00
Accounts Payable 250.00

23,150.00 23,150.00
ON ACCOUNT

Credit Debit Debit Debit Debit Debit

2 3 4 5 6 7

(Accounts Accounts Salaries Utilities

Payable) Payable Supplies Expense Rent Expense Expense
1,800.00
3,000.00
(250.00) 250.00
600.00

2,500.00

(250.00) 3,000.00 250.00 4,300.00 0.00 600.00

 8 9 10

Sundries Balance
0.00
0.00
0.00
0.00
Furniture & Fixtures 15,000.00 0.00
0.00
0.00

0.00
0.00 15,000.00 0.00
GENERAL LEDGER

101 CASH
Date/Particulars DEBIT
Jul 01 | Beg bal 7,750.00
Jul 05 | Collection from Winston 550.00
Jul 21 | Cash sales
Jul 31 | Loan from City Bank

Total 8,300.00
Net amount 3,500.00

201 ACCOUNTS PAYABLE

Date/Particulars DEBIT
Jul 20 | Payment of payables to Ekswaizi Co. 3,000.00

Total 3,000.00

426 SERVICE REVENUE

Date/Particulars DEBIT

Total 0.00
 Date/Particulars CREDIT
Jul 15 | Salaries 1,800.00
Jul 20 | Payment of payables to Ekswaizi Co. 3,000.00
Jul 29 | Owner's drawing
Jul 30 | Payment for utilities - Water
Jul 31 | Purchase of 3 pcs Cabinet to Tabhlah Inc
Jul 31 | Salaries

Total 4,800.00

TS PAYABLE
Date/Particulars CREDIT
Jul 01 | Beg bal 4,500.00
Jul 26 | Purchases to Esem Inc

Total 4,500.00
Net amount 1,500.00

Date/Particulars CREDIT
Jul 10 | Billed customer Eybisi 7,300.00
Jul 10 | Completion of service for advance paymen 800.00
Jul 21 | Cash sales

Total 8,100.00
Net amount 8,100.00
 112 ACCOUNTS RECEIVABLE
Date/Particulars DEBIT Date/Particulars
Jul 01 | Beg bal 3,320.00 Jul 05 | Collection from Winston
Jul 10 | Billed customer Eybisi 7,300.00

Total 10,620.00 Total

Net amount 10,070.00

203 LOANS PAYABLE

Date/Particulars DEBIT Date/Particulars
Jul 31 | Loan from City Bank

Total 0.00 Total

Net amount

526 SALARIES EXPENSE

Date/Particulars DEBIT Date/Particulars
Jul 15 | Salaries 1,800.00
Jul 31 | Salaries

Total 1,800.00 Total

Net amount 1,800.00
 126
CREDIT Date/Particulars
550.00 Jul 01 | Beg bal
Jul 26 | Purchases to Esem Inc

550.00 Total
Net amount

206
CREDIT Date/Particulars
Jul 10 | Completion of service for advance payment

0.00 Total
0.00

532
CREDIT Date/Particulars
Jul 30 | Payment for utilities -Water

0.00 Total
Net amount
SUPPLIES INVENTORY
DEBIT Date/Particulars CREDIT
900.00

900.00 Total 0.00

900.00

UNEARNED REVENUE
DEBIT Date/Particulars CREDIT
800.00 Jul 01 | Beg bal 800.00

800.00 Total 800.00

Net amount 0.00

UTILITIES EXPENSE
DEBIT Date/Particulars CREDIT

0.00 Total 0.00

0.00
 157 EQUIPMENT
Date/Particulars DEBIT Date/Particulars CREDIT
Jul 01 | Beg bal 10,000.00

Total 10,000.00 Total 0.00

Net amount 10,000.00

301 KAYE BORA CAPITAL

Date/Particulars DEBIT Date/Particulars CREDIT
Jul 01 | Beg bal 16,670.00

0.00 Total 16,670.00

Net amount 16,670.00
 158 FURNITURES AND FIXTURES
Date/Particulars DEBIT
Jul 31 | Purchase of 3 pcs Cabinet to Tabhlah Inc

Total 0.00
Net amount 0.00

306 KAYE BORA DRAWING

Date/Particulars DEBIT
Jul 29 | Owner's drawing

Total 0.00
0.00
RES AND FIXTURES
Date/Particulars CREDIT

Total 0.00

RA DRAWING
Date/Particulars CREDIT

Total 0.00
Net amount
GENERAL LEDGER

101 CASH
Date/Particulars DEBIT
Jul 01 | Beg bal 7,750.00
Jul 05 | Collection from Winston 550.00
Jul 21 | Cash sales 500.00
Jul 31 | Loan from City Bank 50,000.00

Total 58,800.00
Net amount 34,900.00

201 ACCOUNTS PAYABLE

Date/Particulars DEBIT
Jul 20 | Payment of payables to Ekswaizi Co. 3,000.00

Total 3,000.00

426 SERVICE REVENUE

Date/Particulars DEBIT

Total 0.00
 Date/Particulars CREDIT
Jul 15 | Salaries 1,800.00
Jul 20 | Payment of payables to Ekswaizi Co. 3,000.00
Jul 29 | Owner's drawing 1,000.00
Jul 30 | Payment for utilities - Water 600.00
Jul 31 | Purchase of 3 pcs Cabinet to Tabhlah Inc 15,000.00
Jul 31 | Salaries 2,500.00

Total 23,900.00

TS PAYABLE
Date/Particulars CREDIT
Jul 01 | Beg bal 4,500.00
Jul 26 | Purchases to Esem Inc 250.00

Total 4,750.00
Net amount 1,750.00

Date/Particulars CREDIT
Jul 10 | Billed customer Eybisi 7,300.00
Jul 10 | Completion of service for advance paymen 800.00
Jul 21 | Cash sales 500.00

Total 8,600.00
Net amount 8,600.00
 112 ACCOUNTS RECEIVABLE
Date/Particulars DEBIT Date/Particulars
Jul 01 | Beg bal 3,320.00 Jul 05 | Collection from Winston
Jul 10 | Billed customer Eybisi 7,300.00

Total 10,620.00 Total

Net amount 10,070.00

203 LOANS PAYABLE

Date/Particulars DEBIT Date/Particulars
Jul 31 | Loan from City Bank

Total 0.00 Total

Net amount

526 SALARIES EXPENSE

Date/Particulars DEBIT Date/Particulars
Jul 15 | Salaries 1,800.00
Jul 31 | Salaries 2,500.00

Total 4,300.00 Total

Net amount 4,300.00
 126
CREDIT Date/Particulars
550.00 Jul 01 | Beg bal
Jul 26 | Purchases to Esem Inc

550.00 Total
Net amount

206
CREDIT Date/Particulars
50,000.00 Jul 10 | Completion of service for advance payment

50,000.00 Total
50,000.00

532
CREDIT Date/Particulars
Jul 30 | Payment for utilities -Water

0.00 Total
Net amount
SUPPLIES INVENTORY
DEBIT Date/Particulars CREDIT
900.00
250.00

1,150.00 Total 0.00

1,150.00

UNEARNED REVENUE
DEBIT Date/Particulars CREDIT
800.00 Jul 01 | Beg bal 800.00

800.00 Total 800.00

Net amount 0.00

UTILITIES EXPENSE
DEBIT Date/Particulars CREDIT
600.00

600.00 Total 0.00

600.00
 157 EQUIPMENT
Date/Particulars DEBIT Date/Particulars CREDIT
Jul 01 | Beg bal 10,000.00

Total 10,000.00 Total 0.00

Net amount 10,000.00

301 KAYE BORA CAPITAL

Date/Particulars DEBIT Date/Particulars CREDIT
Jul 01 | Beg bal 16,670.00

0.00 Total 16,670.00

Net amount 16,670.00
 158 FURNITURES AND FIXTURES
Date/Particulars DEBIT
Jul 31 | Purchase of 3 pcs Cabinet to Tabhlah Inc 15,000.00

Total 15,000.00
Net amount 15,000.00

306 KAYE BORA DRAWING

Date/Particulars DEBIT
Jul 29 | Owner's drawing 1,000.00

Total 1,000.00
1,000.00
RES AND FIXTURES
Date/Particulars CREDIT

Total 0.00

RA DRAWING
Date/Particulars CREDIT

Total 0.00
Net amount
GENERAL LEDGER (T-ACCOUNT)

101 CASH
DEBIT CREDIT
beg bal 7,750.00
Jul 5 550.00
Jul 15 1,800.00
Jul 20 3,000.00
Jul 21 500.00
Jul 29 1,000.00
Jul 30 600.00
Jul 31 50,000.00 15,000.00

58,800.00 21,400.00
37,400.00
 Bora-Kaye Salon
Trial Balance
As of July 31, 2023

Account Title Debit Credit

101 Cash 34,900.00
112 Accounts Receivable 10,070.00
126 Supplies Inventory 1,150.00
157 Equipment 10,000.00
158 Furnitures and fixtures 15,000.00
201 Accounts Payable 1,750.00
203 Loans Payable 50,000.00
206 Unearned Revenue 0.00
301 Kaye Bora, Capital 16,670.00
306 Kaye Bora, Drawings 1,000.00 Temporary/Nominal Account
426 Service Revenue 8,600.00 Temporary/Nominal Account
526 Salaries Expense 4,300.00 Temporary/Nominal Account
532 Utilities Expense 600.00 Temporary/Nominal Account

77,020.00 77,020.00 0.00

Temporary/Nominal Account 5,900.00 8,600.00

2,700.00 Credit balance of Nominal Account
 Capital Account
Income Summary Account Capital Account
Income Summary Account Capital Account
Income Summary Account Capital Account

minal Account
 Bora-Kaye Salon
Income Statement
For the Month ended July 31, 2023

Income - Expense =
Revenue: 8,600.00 - 4,900.00 =
Service Revenue 8,600.00

Expenses:
Salaries 4,300.00
Utilities 600.00 4,900.00

Net Income 3,700.00

Net income /(-net loss)
3,700.00
 Bora-Kaye Salon
Statement of Changes in Owner's Equity
For the Month ended July 31, 2023

Kaye Bora, Capital- Beginning 16,670

Add: Net Income 3,700
Less: Irene Bora drawing (1,000)
Kaye Bora, Capital- End 19,370
 Bora-Kaye Salon
Balance Sheet
as of July 31, 2023

Asset
Asset A
Current Assets 71,120.00
Cash 34,900.00 71,120.00
Accounts Receivable 10,070.00 0.00
Supplies 1,150.00 46,120.00
Non-Current Assets
Equipment 10,000.00
Furnitures and Fixtures 15,000.00 25,000.00
Total Assets 71,120.00

Liabilities & Capital

Current Liabilities
Accounts Payable 1,750.00
Unearned revenue 0.00 1,750.00
Non-Current Liabilities
Loans Payable 50,000.00 50,000.00
Total Liabilities 51,750.00

Capital
Kaye Bora, Capital- End 19,370.00

Total Liabilities and Capital 71,120.00

0.00
 Liabilities Capital
= L + C
= 51,750.00 + 19,370.00
= 71,120.00
 Bora-Kaye Salon
CASH FLOW STATEMENT
as of July 31, 2023

OPERATING ACTIVITIES
Collection from Customer 1,050.00 Sales/Service Revenue
Payment to Suppliers (3,000.00) Expenses
Payment of utilities (600.00) Current Assets
Payment of salaries (4,300.00) Current Liabilities
(6,850.00)
INVESTING ACTIVITIES Fixed Assets
Sale of Fixed Assets
Purchases of fixed Assets (15,000.00)
(15,000.00)
FINANCING ACTIVITIES
Investment of capital Owners Equity
Withdrawal of capital (1,000.00) Long-term Liability
Loans 50,000.00 49,000.00

Net Increase/(Decrease) in Cash 27,150.00

Add: Cash Beginning Balance 7,750.00
Cash ending Balance 34,900.00
34,900.00 Cash balance from Trial Balance and
-
vice Revenue

nce from Trial Balance and Balance Sheet

POST-CLOSING ENTRIES

Service Revenue 8,600.00 Income Summary

Income Summary 8,600.00 debit
To closed the revenue account 4,900.00

Income Summary 4,900.00 4,900.00

Salaries Expenses 4,300.00
Utilities Expenses 600.00
To close the expense accounts

Kaye Bora, Capital 1,000.00 Post closing entry - Compound entry form
Kaye Bora, Drawings 1,000.00 Service Revenue
To close the drawing account

Income Summary 3,700.00

Kaye Bora, Capital 3,700.00
 credit
8,600.00

8,600.00
3,700.00 net income

osing entry - Compound entry form

8,600.00
Salaries Expenses 4,300.00
Utilities Expenses 600.00
Kaye Bora, Drawing 1,000.00
Kaye Bora, Capital 2,700.00
8,600.00 8,600.00
 Bora-Kaye Salon
Post Closing Trial Balance
As of July 31, 2023

Account Title Debit Credit

101 Cash 34,900.00
112 Accounts Receivable 10,070.00
126 Supplies 1,150.00
157 Equipment 10,000.00
158 Furnitures and fixtures 15,000.00
201 Accounts Payable 1,750.00
203 Loans Payable 50,000.00
206 Unearned Revenue -
301 Kaye Bora, Capital 19,370.00 16,670.00 2,700.00
71,120.00 71,120.00
-
19,370.00