Accountin
Note that the given amounts are provided to clearly depict the formulation.
UNUSED SHOP
CASH A/R ALLOW FOR D.A SUPP PREPAID RENT
BEG BAL 120,000.00 280,000.00 (2,800.00) 800.00
1.00 (100,000.00)
2.00 (12,000.00)
3.00 (24,000.00)
4.00 56,000.00 84,000.00
5.00 (40,000.00)
6.00 164,000.00 (164,000.00)
7.00 (102,400.00)
8.00 (2,400.00) 2,400.00
9.00 (24,000.00)
75,200.00 160,000.00 (2,800.00) 3,200.00
A
B 16,000.00
C
D (400.00)
E
F (2,200.00)
75,200.00 160,000.00 (3,200.00) 1,000.00 16,000.00
UNADJUSTED TB
CASH 75,200.00
A/R 160,000.00
ALLOW FOR D.A
UNUSED SHOP SUPP 3,200.00
PREPAID RENT
PREPAID INSURANCE 12,000.00
INTEREST RECEIVABLE
NOTES RECEIVABLE 40,000.00
SHOP PEQUIP 240,000.00
ACCUM DEP
A/P
N/P -
ACC INTEREST -
MIKE CAPITAL
MIKE DRAWING 100,000.00
REVENUE
INTEREST INCOME
RENT EXPENSE 24,000.00
SALARIES EXP 24,000.00
INSURANCE EXP -
,DOUBTFUL ACCNT EXP -
DEP EXP -
SUPP EXP -
INTEREST EXP 1,200.00
679,600.00
Another example:
FOR T
Unadjusted Trial Balance Adjustments
PARTICULARS Debit Credit Debit
CASH ₱61,610
ACCOUNTS RECEIVABLE 4,600 3,700
ADVANCES TO EMPLOYEES 2,000
SHOP TOOLS 10,000
UNUSED SUPPLIES 4,500
PREPAID RENT 18,000
SEWING EQUIPMENT 24,000
FURNITURE AND FIXTURES 21,500
ACCOUNTS PAYABLE ₱6,500
TRAYNOR, CAPITAL 88,000
TRAYNOR, DRAWINGS 1,300
SERVICE INCOME 67,600 ₱9,000
UTILITIES EXPENSE 2,700 2,700
PERMITS AND LICENSES 550
SALARIES EXPENSE 10,800 3,600
REPAIRS AND MAINTENANCE 540
SHOP TOOLS EXPENSE 7,000
DEPRECIATION EXPENSE - SEWING EQUIPMENT 400
DEPRECIATION EXPENSE - FURNITURE AND FIXTURES 250
ACCUMULATED DEPRECIATION - SEWING EQUIPMENT
ACCUMULATED DEPRECIATION - FURNITURE AND FIXTURES
ACCRUED SALARIES
ACRRUED UTILITIES
RENT EXPENSE 6,000
SUPPLIES EXPENSE 2,400
UNEARNED SERVICE INCOME
BAD DEBTS EXPENSE 230
, ₱162,100 ₱162,100 ₱35,280
NET INCOME
Another example:
Adjustments:
1 Beginning Inventory 165,000
Purchases 378,000
Purchase Discoun (4,000)
Freight In 1,000 375,000
Total GAFS 540,000
x 1/2
Ending Inventory 270,000
Merchandise Inv 270,000
Income Summary 270,000
2 Supplies Expense 2,000
Supplies Inventory 2,000
3 Store Equipment
Jan 1 Jul 1
Total 60,000 84,000
Useful Life 10 10
Annual Depreciat 6,000 8,400
Monthly Deprecia 500 700
Months Outstand 12 6
Depreciation Exp 6,000 4,200
Depreciation Exp 10,200
A/D 10,200
4 Office Fur & Fix 50,000
Annual Depreciation 20%
Depreciation 10,000
Depreciation Exp 10,000
A/D 10,000
5 Principal 100,000
Interest 1,000
Note that the given amounts are provided to clearly depict the formulation.
UNUSED SHOP
CASH A/R ALLOW FOR D.A SUPP PREPAID RENT
BEG BAL 120,000.00 280,000.00 (2,800.00) 800.00
1.00 (100,000.00)
2.00 (12,000.00)
3.00 (24,000.00)
4.00 56,000.00 84,000.00
5.00 (40,000.00)
6.00 164,000.00 (164,000.00)
7.00 (102,400.00)
8.00 (2,400.00) 2,400.00
9.00 (24,000.00)
75,200.00 160,000.00 (2,800.00) 3,200.00
A
B 16,000.00
C
D (400.00)
E
F (2,200.00)
75,200.00 160,000.00 (3,200.00) 1,000.00 16,000.00
UNADJUSTED TB
CASH 75,200.00
A/R 160,000.00
ALLOW FOR D.A
UNUSED SHOP SUPP 3,200.00
PREPAID RENT
PREPAID INSURANCE 12,000.00
INTEREST RECEIVABLE
NOTES RECEIVABLE 40,000.00
SHOP PEQUIP 240,000.00
ACCUM DEP
A/P
N/P -
ACC INTEREST -
MIKE CAPITAL
MIKE DRAWING 100,000.00
REVENUE
INTEREST INCOME
RENT EXPENSE 24,000.00
SALARIES EXP 24,000.00
INSURANCE EXP -
,DOUBTFUL ACCNT EXP -
DEP EXP -
SUPP EXP -
INTEREST EXP 1,200.00
679,600.00
Another example:
FOR T
Unadjusted Trial Balance Adjustments
PARTICULARS Debit Credit Debit
CASH ₱61,610
ACCOUNTS RECEIVABLE 4,600 3,700
ADVANCES TO EMPLOYEES 2,000
SHOP TOOLS 10,000
UNUSED SUPPLIES 4,500
PREPAID RENT 18,000
SEWING EQUIPMENT 24,000
FURNITURE AND FIXTURES 21,500
ACCOUNTS PAYABLE ₱6,500
TRAYNOR, CAPITAL 88,000
TRAYNOR, DRAWINGS 1,300
SERVICE INCOME 67,600 ₱9,000
UTILITIES EXPENSE 2,700 2,700
PERMITS AND LICENSES 550
SALARIES EXPENSE 10,800 3,600
REPAIRS AND MAINTENANCE 540
SHOP TOOLS EXPENSE 7,000
DEPRECIATION EXPENSE - SEWING EQUIPMENT 400
DEPRECIATION EXPENSE - FURNITURE AND FIXTURES 250
ACCUMULATED DEPRECIATION - SEWING EQUIPMENT
ACCUMULATED DEPRECIATION - FURNITURE AND FIXTURES
ACCRUED SALARIES
ACRRUED UTILITIES
RENT EXPENSE 6,000
SUPPLIES EXPENSE 2,400
UNEARNED SERVICE INCOME
BAD DEBTS EXPENSE 230
, ₱162,100 ₱162,100 ₱35,280
NET INCOME
Another example:
Adjustments:
1 Beginning Inventory 165,000
Purchases 378,000
Purchase Discoun (4,000)
Freight In 1,000 375,000
Total GAFS 540,000
x 1/2
Ending Inventory 270,000
Merchandise Inv 270,000
Income Summary 270,000
2 Supplies Expense 2,000
Supplies Inventory 2,000
3 Store Equipment
Jan 1 Jul 1
Total 60,000 84,000
Useful Life 10 10
Annual Depreciat 6,000 8,400
Monthly Deprecia 500 700
Months Outstand 12 6
Depreciation Exp 6,000 4,200
Depreciation Exp 10,200
A/D 10,200
4 Office Fur & Fix 50,000
Annual Depreciation 20%
Depreciation 10,000
Depreciation Exp 10,000
A/D 10,000
5 Principal 100,000
Interest 1,000
