Maria - GJ & WS - QEWWE PDF

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Summary

QEWWE...

Description

General Journal Date

Explanation

F

Debit

Credit

Salaries Expense Salaries Payable To record salaries

4

Office Supplies Office Supplies Expense To adjust office suppplies

1

Advances from Tenants Parking Fees Income To record earned portion of parking fees from advances

5

Depreciation Expense - Leasehold Improvements Accumulated Depreciation - Leasehold Improvements To record 1 yr depreciation of leasehold improvements

63

4

1

5

63

Insurance Expense Prepaid Insurance To record expired portion of insurance

2

Depreciation Expense - Furniture and Fixtures Accumulated Depreciation - Furniture and Fixtures To record depreciation of Furniture and Fixtures (20-5)/5 = 3 (10/5) x 6/12=1

4

Bad Debts Expense Allowance for Bad Debts To setup allowance for uncollectible accounts (180 x 5%) - 3 = 6

6

Interest Expense Interest Payable Accrued interest on note payable 400x12%x2/12 = 8

8

Taxes and Licenses Taxes Payable Accrued tax on last quarter 500*3% = 15

2

4

6

8

15 15

Maria Jasmine Park Place Worksheet December 31,2018 1

Cash Accounts Receivable Allowance for Bad Debts Prepaid Insurance Leasehold Improvements Accumulated Depreciation - Leasehold Improvements Furniture & Fixtures Accumulated Depreciation - Furniture & Fixtures Accounts Payable Notes Payable Advances from Tenants SS & EC Premiums Payable PhilHealth Premiums Payable HDMF Premiums Payable Withholding Taxes Payable Maria Jasmine, Capital Maria Jasmine, Personal Parking Fees Income Interest Income Rent Expense Office Supplies Expense Salaries Expense Utilities Expense Taxes and Licenses HDMF Expense PhilHealth Expense SS & EC Expense Salaries Payable Office Supplies Depreciation Expense- Leasehold Impovements Interest Expense Interest Payable Insurance Expense Depreciation Expense - Furniture & Fixtures Bad Debts Expense Taxes Payable Total Net Income

₱ ₱ ₱ ₱ ₱

₱

₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱

2

Trial Balance 218 180 ₱ 4 504 ₱ 30 ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ 85 ₱ ₱ 180 8 186 96 18 4 4 4

3

4

1,521

₱

6

7

Adjusted Trial Balance 218 180 ₱ 9 ₱ 2 ₱ 504 ₱ 105 ₱ 30 ₱ 7 ₱ 35 ₱ 400 ₱ 10 ₱ 3 ₱ 2 ₱ 2 ₱ 4 ₱ 144 ₱ 85 ₱ 859 ₱ 14 ₱ 180 ₱ 7 ₱ 190 ₱ 96 ₱ 33 ₱ 4 ₱ 4 ₱ 4 ₱ 4 ₱ 1 ₱ 63 ₱ 8 ₱ 8 ₱ 2 ₱ 4 ₱ 6 ₱ 15 ₱ 1,621 ₱ 1,621

8

9

Income Statement

₱ ₱ 3

₱ ₱

6 2

42

₱

63

3 35 400 15 ₱ 3 2 2 4 144

₱

4

5

854 14

₱

4

₱

15

₱ ₱ ₱

1 63 8

₱ ₱ ₱

2 4 6

₱

5

₱

1

₱

4

₱

₱

5

Adjustments

1,521

₱

108

₱ ₱

8

15 108

₱ ₱ ₱ ₱ ₱

` ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱

180 7 190 96 33 4 4 4

₱ ₱

63 8

₱ ₱ ₱

2 4 6

₱

601 ₱ 272 873 ₱

9

10 7 35 400 10 3 2 2 4 144

859 14

₱

₱ ₱

10

Balance Sheet 218 180 ₱ 2 504 ₱ 30 ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ ₱ 85

₱

4

₱

8

1

₱ 873 873

₱ ₱

1,020 1,020

₱ ₱ ₱

15 748 272 1,020...