Time Started: Time Ended:

Squid
PARTICULARS ACCOUNT Game
NUMBER
Cash 110 Partners’ Capital 310
Accounts Receivable 120 Service Revenue 410
Supplies 130 Partners drawings 320
Equipment 140 Salaries Expense 510
Prepaid VAT 150 Rent Expense 520
Accumulated Depreciation 160 Utilities Expense 530
Accounts Payable 210 Percentage Tax 540
Notes Payable 220 Depreciation Expense 540
Withholding Tax Payable 230 Supplies Expense 560
Expanded Withholding Tax Payable 240 SSS, Phil Health, Pag-ibig Contribution 610
SSS, Phil Health, Pag-ibig Payable 250 Withholding Tax 620
Percentage Tax Payable 260 Expanded Withholding Tax 630
Rent Payable 270 Income Summary 640
Utilities Payable 280 Output VAT 650
VAT Payable 290 Input VAT 660
Percentage tax payable 300
Traders
Post-Closing Trial Balance
March 31, 2020
Cash and Cash Equivalents 250,000.00
Accounts Receivable 100,000.00
Supplies 100,000.00
Equipment 70,000.00
Accounts Payable 85,000.00
Withholding Tax Payable 2,500.00
Expanded Withholding Tax Payable 2,500.00
Percentage Payable 2,500.00
SSS, Phil Health, Pag-ibig Payable 10,000.00
Utilities Payable 23,000.00
Rent Payable 30,000.00
Partners’ Capital 364,500

TOTAL P520,000.0 P520,000.00

0
ADDITIONAL INFORMATION:
1.Worth of P2,500 supplies were used
2. Equipment Has a depreciation of 3% Yearly
3. P5,0000 of receivable are deemed Uncollectible
4. Percentage tax rate is 2%
REQUIREMENT
Complete The Accounting Cycle.

NOTE: Check all the Source Documents

Revenue Journal
Date Invoice Service Income Output VAT Accounts Receivable
Accounts Debited PR
2020 No. Credit Credit Debit

( ) ( ) ( ) ( )

Cash Receipt Journal

Date Official Receipt Invoice Accounts Service Income Output VAT Cash
PR
2020 No. No. Credited Credit Credit Debit

( ) ( ) ( ) ( )
Cash Disbursement Journal
Check W. Tax Payable Expanded Accounts Input Cash
Date Salaries SSS, PH, Pag-IBIG
Voucher Check Accounts Sundry Debit/(Credit Withholding Payable VAT
PR Expenses Payable Credit
No. No. Debited Debit/(Credit) Tax Payable Debit
2020 Debit Debit/(Credit
Debit/Credit

Total:
( ) ( ) ( ) ( ) ( ) ( ) ( ) ( ) ( )
 GENERAL JOURNAL
DATE PARTICULARS PR DEBIT CREDIT

GENERAL JOURNAL FOR ADJUSTING ENTRY

DATE PARTICULARS PR DEBIT CREDIT
 CLOSING ENTRY
DATE PARTICULARS PR DEBIT CREDIT
Accounts receivable – Account number:

Date Item PR Debit Credit Debit Credit

Accounts Receivable-

Date Item PR Debit Credit Debit Credit

Accounts Receivable- Account number:

Date Item PR Debit Credit Debit Credit

Accounts Payable- Account number:

Date Item PR Debit Credit Debit Credit

Cash Account number:

Date Item PR Debit Credit Debit Credit

Accounts Receivable Account number:

Date Item PR Debit Credit Debit Credit

Supplies Account number:

Date Item PR Debit Credit Debit Credit

Equipment Account number:

Date Item PR Debit Credit Debit Credit

Accounts Payable Account number:

Date Item PR Debit Credit Debit Credit

Notes Payable Account number:

Date Item PR Debit Credit Debit Credit

Withholding Tax Payable Account number:

Date Item PR Debit Credit Debit Credit

Expanded Withholding Tax Payable Account number:

Date Item PR Debit Credit Debit Credit

SSS, PhilHealth, Pag-ibig Payable Account number:

Date Item PR Debit Credit Debit Credit

Utilities Payable Account number:

Date Item PR Debit Credit Debit Credit

Rent Payable Account number:

Date Item PR Debit Credit Debit Credit

Percentage Tax Payable Account number:

Date Item PR Debit Credit Debit Credit

Seong’s, Capital Account number:

Date Item PR Debit Credit Debit Credit

Oh Nam’s Capital Account number:

Date Item PR Debit Credit Debit Credit

Seong’s, Drawings Account number:

Date Item PR Debit Credit Debit Credit

Oh Nam’s Drawings Account number:

Date Item PR Debit Credit Debit Credit

Income Summary Account number:

Date Item PR Debit Credit Debit Credit

Service Revenue Account number:

Date Item PR Debit Credit Debit Credit

Salaries Expense Account number:

Date Item PR Debit Credit Debit Credit

Rent Expense Account number:

Date Item PR Debit Credit Debit Credit

Utilities Expense Account number:

Date Item PR Debit Credit Debit Credit

SSS, PhilHealth, Pag-ibig Contribution Account number:

Date Item PR Debit Credit Debit Credit

Depreciation Expense Account number:

Date Item PR Debit Credit Debit Credit

Supplies Expense Account number:

Date Item PR Debit Credit Debit Credit

Bad Debt Expense Account number:

Date Item PR Debit Credit Debit Credit

Percentage Tax Account number:

Date Item PR Debit Credit Debit Credit

VAT Control Account Account number:

Date Item PR Debit Credit Debit Credit

 WORKSHEET
Squid Game Shop
(IN PHP)
UNADJUSTED TRIAL BALANCE ADJUSTING ENTRIES INCOME STATEMENT BALANCE SHEET
 Squid Game Shop
Statement of Financial Performance
For the Month Ended April 30,2020
(in Php)

Squid Game Shop

Statement of Changes in Equity
As of the Month Ended April 30,2020
(in Php)
 Squid Game Shop
Statement of Financial Position
As of the Month Ended April 30 ,2020
(in Php)
 Squid Game Shop
Statement of Cash Flow
For the Month Ended April 30,2020
(in Php)
 Squid Game Shop
Post-Closing Trial Balance
April 30,2020