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Activity 1 Bookkeeping

The document contains a detailed chart of accounts and financial transactions for a business, including initial investments, expenses, and income. It outlines the unadjusted trial balance, adjustments, and the adjusted trial balance, leading to the income statement and balance sheet. The final figures indicate a net income of 18,400.00 and a balanced financial position of 329,650.00.

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Roselene Lanson
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34 views15 pages

Activity 1 Bookkeeping

The document contains a detailed chart of accounts and financial transactions for a business, including initial investments, expenses, and income. It outlines the unadjusted trial balance, adjustments, and the adjusted trial balance, leading to the income statement and balance sheet. The final figures indicate a net income of 18,400.00 and a balanced financial position of 329,650.00.

Uploaded by

Roselene Lanson
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Chart of Accounts Date

Acct. No. Account Title Sept. 1


1001 Cash in Bank
1002 Accounts Receivable
1003 Office Supplies
1004 Service Tools 5
1005 Service Supplies
1006 Service Vehicle
1007 Prepaid Insurance
1008 Prepaid Rent 7
2001 Accounts Payable
3001 Sky, Capital
4001 Service Income
5001 Utilities Expense 8
5002 Salaries Expense

10

11

11

15

15

17

17
18

21

30
Particulars PR Debit Credits
Cash in Bank 250,000.00
Sky, Capital 250,000.00
Initial Investment

Prepaid Rent 12,000.00


Cash in Bank 12,000.00
Advance payment for Rent - 4 months

Service vehicle 90,000.00


Cash in Bank 90,000.00
Payment for Service Vehicle - Cash

Service Tools 45,000.00


Accounts Payable 45,000.00
Purchase of Tools on account

Utilities Expense - Electricity 1,500.00


Cash in Bank 1,500.00
Payment for Utilities

Prepaid Insurance 6,000.00


Cash in Bank 6,000.00
Advance Payment for Insurance - 1 year

Cash in Bank 20,000.00


Service Income 20,000.00
Cash Service Income

Salaries Expense 2,000.00


Cash in Bank 2,000.00
Payment of Salaries

Accounts Receivable 10,000.00


Service Income 10,000.00
Service income on Account

Utilities Expense - Water 850.00


Cash in Bank 850.00
Payment of Utility

Office Supplies 5,800.00


Cash in Bank 5,800.00
Purchase of Office Supplies - Cash

Service Supplies 50,000.00


Accounts Payable 50,000.00
Purchase of Supplies on Account
Cash in bank 3,000.00
Accounts Receivable 3,000.00
Received Payment from Customer

Accounts Payable 10,000.00


Cash in Bank 10,000.00
Payment of Liability

Cash in Bank 14,000.00


Accounts Receivable 6,000.00
Service Income 20,000.00
Mixed payment Income
CASH IN BANK
Date Particulars PR Debit
9.01 Initial Investment 250,000.00
9.11 Service Income 20,000.00
9.18 Payment from Customer 3,000.00
9.30 Service Income 14,000.00
Total Debits 287,000.00
Less: Total Credits 128,150.00
Running Balance 158,850.00

ACCOUNTS RECEIVABLE
Date Particulars PR Debit
9.15 Service Income 10,000.00
9.3 Service Income 6,000.00
Total Debits 16,000.00
Less: Total Credits 3,000.00
Running Balance 13,000.00

OFFICE SUPPLIES
Date Particulars PR Debit
9.17 Initial Office Supplies 5,800.00

SERVICE TOOLS
Date Particulars PR Debit
9.08 Initial Service Tools 45,000.00

SERVICE SUPPLIES
Date Particulars PR Debit
9.17 Initial Service Supplies 50,000.00

SERVICE VEHICLE
Date Particulars PR Debit
9.07 Second Hand Vehicle - Pur.Am. 90,000.00

PREPAID INSURANCE
Date Particulars PR Debit
9.1 Advance Payment for Insurance - 1 year 6,000.00

PREPAID RENT
Date Particulars PR Debit
9.05 Advance payment for Rent - 4 months 12,000.00
BANK Acct No: 1001
Date Particulars PR Credit
9.05 Advance payment for Rent - 4 months 12,000.00
9.07 Payment for Service Vehicle - Cash 90,000.00
9.08 Payment for Utilities 1,500.00
9.10 Advance Payment for Insurance - 1 year 6,000.00
9.11 Payment of Salaries 2,000.00
9.15 Payment for Utilities 850.00
9.17 Payment for Office Supplies 5,800.00
9.20 Payment for Service Tools 10,000.00
Total Credits 128,150.00

CEIVABLE Acct No:


Date Particulars PR Credit
9.18 Payment from Customer 3,000.00
Total Credits 3,000.00

PPLIES Acct No:


Date Particulars PR Credit

OOLS Acct No:


Date Particulars PR Credit

PPLIES Acct No:


Date Particulars PR Credit

EHICLE Acct No:


Date Particulars PR Credit

URANCE Acct No:


Date Particulars PR Credit

RENT Acct No:


Date Particulars PR Credit
ACCOUNTS PAYABLE
Date Particulars PR Debit Date
9.21 Payment for Tools 10,000.00 9.08
Total Debits 10,000.00 9.17

SKY, CAPITAL
Date Particulars PR Debit Date
9.01

SERVICE INCOME
Date Particulars PR Debit Date
9.11
9.15
9.30

UTILITIES EXPENSE
Date Particulars PR Debit Date
9.08 Electricity 1,500.00
9.15 Water 850.00
Running Balance 2,350.00

SALARIES EXPENSE
Date Particulars PR Debit Date
9.11 For Assistant 1/2 Month 2,000.00
Acct No:
Particulars PR Credit
Purchase of Tools on account 45,000.00
Purchase of Supplies on account 50,000.00
Total Credits 95,000.00
Less: Total Debits 10,000.00
Running Balance 85,000.00

Acct No:
Particulars PR Credit
Initial Capital 250,000.00

Acct No:
Particulars PR Credit
Cash 20,000.00
On Account 10,000.00
Mixed Income 20,000.00
Running Balance 50,000.00

Acct No:
Particulars PR Credit

Acct No:
Particulars PR Credit
Unadjusted Trial Balance Adjustments
Acct. No. Account Title Dr Cr Dr
1001 Cash in Bank 158,850.00 6,500.00
1002 Accounts Receivable 13,000.00
1003 Office Supplies 5,800.00
1004 Service Tools 45,000.00
1005 Service Supplies 50,000.00
1006 Service Vehicle 90,000.00
1007 Prepaid Insurance 6,000.00
1008 Prepaid Rent 12,000.00
2001 Accounts Payable 85,000.00 42,500.00
3001 Sky, Capital 250,000.00
4001 Service Income 50,000.00
5001 Utilities Expense 2,350.00
5002 Salaries Expense 2,000.00 12,500.00
385,000.00 385,000.00

5003 Dep. Exp - Vehicle 2,500.00


1009 Accum Dep - Vehicle
5004 Dep. Exp - Tools 3,750.00
1010 Accum Dep - Tools
3002 Sky, Withdrawal 5,000.00
5005 Service Supplies Expense 5,000.00
2002 Salaries Payable
5006 Rent Expense 3,000.00
5007 Insurance Expense 500.00
81,250.00
Adjustments Adjusted Trial Balance Income Statement
Cr Dr Cr Dr Cr
47,500.00 117,850.00
6,500.00 6,500.00
5,800.00
45,000.00
5,000.00 45,000.00
90,000.00
500.00 5,500.00
3,000.00 9,000.00
42,500.00
250,000.00
50,000.00 50,000.00
2,350.00 2,350.00
14,500.00 14,500.00

2,500.00 2,500.00
2,500.00 2,500.00
3,750.00 3,750.00
3,750.00 3,750.00
5,000.00
5,000.00 5,000.00
12,500.00 12,500.00
3,000.00 3,000.00
500.00 500.00
81,250.00 361,250.00 361,250.00 31,600.00 50,000.00
Less: 31,600.00
Net Income 18,400.00
Balance Sheet
Dr Cr
117,850.00
6,500.00
5,800.00
45,000.00
45,000.00
90,000.00
5,500.00
9,000.00
42,500.00
250,000.00

2,500.00

3,750.00
5000

12,500.00

329,650.00 311,250.00
Add: 18,400.00
329,650.00 329,650.00
Unadjusted Trial Balance
Acct. No. Account Title Dr Cr
1001 Cash in Bank 158,850.00
1002 Accounts Receivable 13,000.00
1003 Office Supplies 5,800.00
1004 Service Tools 45,000.00
1005 Service Supplies 50,000.00
1006 Service Vehicle 90,000.00
1007 Prepaid Insurance 6,000.00
1008 Prepaid Rent 12,000.00
2001 Accounts Payable 85,000.00
3001 Sky, Capital 250,000.00
4001 Service Income 50,000.00
5001 Utilities Expense 2,350.00
5002 Salaries Expense 2,000.00
385,000.00 385,000.00

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