W.
Kayayan Accounting Firm
General Journal
Date Accounts Titles and Explanation F Debit
May 1 Cash 110 P100,000
W. Kayayan, Capital 310
Initial investment
1 Office Equipment 160 P50,000
Accounts Payable 210
Computer units purchased
3 Office Supplies 140 P20,000
Accounts Payable 210
Office supplies purchased on account
5 Office Supplies 140 P10,000
Cash 110
Office Supplies purchased
6 Accounts Payable 210 P70,000
Cash 110
Full payment of account
10 Cash 110 P25,000
Service Revenue 410
Service revenue rendered
15 Accounts Receivable 120 P30,000
Service Revenue 410
Service revenue rendered on account
15 Utilities Expense 520 P3,500
Cash 110
Paid meralco bill
15 Salaries Expense 530 P15,000
Cash 110
Paid salaries of office staff
20 Cash 110 P30,000
Accounts Receivable 120
Collected payment from customer
22 Cash 110 P45,000
Interest Expense 550 P5,000
Notes Payable 220
Proceeds of loan
25 Telephone Expense 540 P6,000
Cash 110
Paid telephone bill
27 W. Kayayan, Withdrawals 320 P20,000
Cash 110
Withdrawals of the owner for personal use
Credit
P100,000
P50,000
P20,000
P10,000
P70,000
P25,000
P30,000
P3,500
P15,000
P30,000
P50,000
P6,000
P20,000
W. Kayayan Accounting Firm
General Ledger
Cash
Date Explanation F Debit Date
1-May Initial Investment P100,000 5-May
10-May Service Revenue rendered P25,000 6-May
20-May Collected payment from customer P30,000 15-May
22-May Proceeds of loan P45,000 15-May
25-May
P200,000 27-May
P75,500
W. Kayayan Capital
Date Explanation F Debit Date
1-May
-
-
Office Equipment
Date Explanation F Debit Date
1-May Computer units purchased P50,000
-
P50,000
Accounts Payable
Date Explanation F Debit Date
6-May Full payment of account P70,000 1-May
- 3-May
P70,000
Office Supplies
Date Explanation F Debit Date
3-May Office supplies purchased on account P20,000
5-May Office supplies purchased P10,000
P30,000
Service Revenue
Date Explanation F Debit Date
10-May
- 15-May
-
Accounts Receivable
Date Explanation F Debit Date
15-May Service revenue rendered on account P30,000 20-May
-
P30,000
Utilities Expense
Date Explanation F Debit Date
15-May Paid Meralco bill P3,500
-
P3,500
Salaries Expense
Date Explanation F Debit Date
15-May Paid salaries of office staff P15,000
-
P15,000
Interest Expense
Date Explanation F Debit Date
22-May Proceeeds of loan P5,000
-
P5,000
Notes Payable
Date Explanation F Debit Date
22-May
-
-
Telephone Expense
Date Explanation F Debit Date
25-May Paid telephone bill P6,000
-
P6,000
W. Kayayan, Withdrawal
Date Explanation F Debit Date
27-May Withdrawals of the owner for personal use P20,000
-
P20,000
Explanation F Credit
Office supplies purchased P10,000
Full payment of account P70,000
Paid meralco bill P3,500
Paid salaries of office staff P15,000
Paid telephone bill P6,000
Withdrawals of owner for personal use P20,000
P124,500
Capital
Explanation F Credit
Initial Investment P100,000
-
P100,000
pment
Explanation F Credit
-
-
ayable
Explanation F Credit
Computer units purchased P50,000
Office supplies purchased on account P20,000
P70,000
plies
Explanation F Credit
-
-
venue
Explanation F Credit
Service revenue rendered P25,000
Service revenue rendered on account P30,000
P55,000
eivable
Explanation F Credit
Collected payment from customer P30,000
-
P30,000
pense
Explanation F Credit
-
-
pense
Explanation F Credit
-
-
pense
Explanation F Credit
-
-
able
Explanation F Credit
Proceeds of loan P50,000
-
P50,000
xpense
Explanation F Credit
-
-
n, Withdrawal
Explanation F Credit
-
-
W. Kayayan Accounting Fir
Worksheet
For the Period Ended May 30,
Account Titles Trial Balance Adjustments
Dr Cr Dr Cr
Cash P75,000
Account Receivable
Notes Receivable
Office Supplies P30,000
Land
Office Equipment P50,000
Accumulated De. O/E
Furniture & Fixtures
Accumulated De. F/F
Accounts Payable
Notes Payable P50,000
Utilities Payable
Salaries Payable
Interest Payable
Unearned Revenue
W. Kayayan, Capital P100,000
W. Kayayan, Withdrawal P20,000
Income Summary
Service Revenue P55,000
Office Supplies Expense
Utilities Expense P3,500
Salaries Expense P15,000
Telephone Expense P6,000
Interest Expense P5,000
Rent Expense
Depreciation Expense -O/E
Depreciation Expense -F/F
Miscellaneous Expense
Accrued Rent
Totals P205,000 P205,000
W. Kayayan Accounting Firm
Worksheet
the Period Ended May 30, 2020
Adjusted Trial Balance Statement of Profit or Loss Statement of Financial Position
Dr Cr Dr Cr Dr
ement of Financial Position
Cr
