Elegant Beauty Salon Transactions
Chart of Accounts
Ref. # Assets Ref. # Revenues
110 Cash 410 Consulting Revenues
120 Accounts Receivable
130 Supplies Ref. # Expenses
140 Office Equipment 510 Salaries Expense
145 Accumulated Deprec520 Supplies Expense
530 Rent Expense
Ref # Liabilities 540 Depreciation Expense
210 Accounts Payable
220 Salaries Payable 550 Income Summary
Ref # Equity
310 Pascual Capital
320 Pascual Withdrawals
General Journal
Date Account Title and Explanation Ref. Debit
2017
Sept 1 Cash ₱ 50,000.00
Pascual Capital
Pascual invested P50000 in the firm
2 Rent Expense 8,000.00
Cash
Paid rent for September to Avra Reality
2 Supplies 7,200.00
Accounts Payable
Purchase supplies on account
3 Office Equipment 75,000.00
Cash
Accounts Payable
Acquired P75000 of office equipment, paying P37000 down with the balance d
7 Cash 50,000.00
Consulting Revenues
Performed consulting services for cash
8 Accounts Payable 7,200.00
Cash
Paid P7200 on account for supplies purchased
14 Salaries Expense 6,000.00
Cash
Paid assistant's salaries for two weeks
28 Salaries Expense 6,000.00
Cash
Paid assistant's salaries for two weeks
30 Accounts Receivable 48,000.00
Consulting Revenues
Billed clients for September consulting services
31 Pascual Withdrawals 12,000.00
Cash
Pascual withdrew P12000 from the business
ADJUSTMENTS
Credit Date Account Title and Explanation Ref.
2017
Sept 31 Supplies Expense
₱ 50,000.00 Office Supplies
Supplies on hand amounted to P4700
31 Salaries Expense
8,000.00 Salaries Payable
Salaries of P1800 have accrued at month-end
31 Depreciation Expense
7,200.00 Accumulated Depreciation
Depreciation for September
31 Accounts Receivable
37,000.00 Consulting Revenues
38,000.00 Billed tax fraud case
000 down with the balance due in 30days
50,000.00
7,200.00
6,000.00
6,000.00
48,000.00
12,000.00
Debit Credit
4,700.00
4,700.00
1,800.00
1,800.00
d at month-end
800.00
800.00
10000
10000
General Ledger
Account Name: Cash
Date Explanation
2017
Sept 1 Pascual invested P50000 in the firm
2 Paid rent for September to Avra Reality
3 Acquired office equipment, paying P37000 down
7 Performed consulting services for cash
8 Paid P7200 on account for supplies purchased
14 Paid assistant's salaries for two weeks
28 Paid assistant's salaries for two weeks
31 Pascual withdrew P12000 from the business
Account Name: Accounts Receivable
Date Explanation
2017
Sept 5 Billed clients for September fraud case
Adjustment 31 Billed tax fraud case
Account Name: Supplies
Date Explanation
2017
Sept 2 Purchase supplies on account
Adjustment Sept 31 Supplies on hand amounted to P4700
Account Name: Office Equipment
Date Explanation
2017
Sept 3 Acquired P75000 of office equipment
Account Name: Accounts Payable
Date Explanation
2017
Sept 2 Purchase supplies on account
3 Acquired P75000 of office equipment, P38000 loan
8 Paid P7200 on account for supplies purchased
Account Name: Pascual Capital
Date Explanation
2017
Sept 1 Pascual invested P50000 in the firm
Account Name: Pascual Withdrawals
Date Explanation
2017
Sept 31 Pascual withdrew P12000 from the business
Account Name: Consulting Revenues
Date Explanation
2017
Sept 7 Performed consulting services for cash
30 Billed clients for September consulting services
Adjustment 31 Billed tax fraud case
Account Name: Salaries Expense
Date Explanation
2017
Sept 14 Paid assistant's salaries for two weeks
28 Paid assistant's salaries for two weeks
Adjustment 31 Salaries of P1800 have accrued at month-end
Account Name: Rent Expense
Date Explanation
2017
Sept 2 Paid rent for September to Avra Reality
ADJUSTMENTS
Account Name: Supplies Expense
Date Explanation
2017
Sept 31 Payroll for 5-30 November 2019
Account Name: Salaries Payable
Date Explanation
2017
Sept 31 Salaries of P1800 have accrued at month-end
Account Name: Depreciation Expense
Date Explanation
2017
Sept 31 Depreciation for September
Account Name: Accumulated Depreciation
Date Explanation
2017
Sept 31 Depreciation for September
al Ledger
Account No. 110
Ref # Debit Credit Balance
GJ 1 ₱ 50,000.00 ₱ 50,000.00
GJ 1 8,000.00 42,000
GJ 1 37,000.00 5,000
GJ 1 50,000 55,000
GJ 1 7200.00 47,800
GJ 1 6,000 41,800
GJ 1 6,000 35,800
GJ 1 12000 23,800
₱ 100,000.00 76200 ₱ 23,800.00
Account No. 120
Ref # Debit Credit Balance
GJ 1 ₱ 48,000.00 ₱ 48,000.00
GJ 1 10000.00 ₱ 58,000.00
Account No. 130
Ref # Debit Credit Balance
GJ 1 ₱ 7,200.00 ₱ 7,200.00
GJ 1 4,700.00 ₱ 2,500.00
Account No. 104
Ref # Debit Credit Balance
GJ 1 ₱ 75,000.00 ₱ 75,000.00
₱ 75,000.00 - ₱ 75,000.00
Account No. 201
Ref # Debit Credit Balance
GJ 1 7,200.00 ₱ 7,200.00
GJ 1 - 38,000.00 ₱ 45,200.00
7,200.00 ₱ 38,000.00
7,200.00 45,200.00 38,000.00
Account No. 310
Ref # Debit Credit Balance
GJ 1 ₱ 50,000.00 ₱ 50,000.00
Account No. 320
Ref # Debit Credit Balance
GJ 1 ₱ 12,000.00 ₱ 12,000.00
Account No. 401
Ref # Debit Credit Balance
GJ 1 ₱50,000.00 ₱ 50,000.00
GJ 1 48,000.00 98000.00
GJ 1 10,000.00 108000.00
₱108,000.00 ₱ 256,000.00
Account No. 510
Ref # Debit Credit Balance
GJ 1 ₱ 6,000.00 ₱ 6,000.00
GJ 1 6,000.00 12,000.00
GJ 1 1,800.00 13,800.00
₱ 12,000.00 ₱ 12,000.00
Account No. 520
Ref # Debit Credit Balance
GJ 1 ₱ 8,000.00 ₱ 8,000.00
₱ 8,000.00 ₱ 8,000.00
Account No. 520
Ref # Debit Credit Balance
GJ 1 ₱ 4,700.00 ₱ 4,700.00
Account No. 220
Ref # Debit Credit Balance
GJ 1 1,800.00 ₱ 1,800.00
Account No. 540
Ref # Debit Credit Balance
GJ 1 800.00 - 800.00
Account No. 540
Ref # Debit Credit Balance
GJ 1 800.00 800.00
Worksheet
For the month of September
Unadjusted Trial Balance Adjustments
Debit Credit Debit Credit
Cash 23,800.00
Accounts Receivable 48,000.00 10000
Supplies 7,200.00 4,700.00
Office Equipment 75,000.00
Accumulated Depreciation 800.00
Accounts Payable 38,000.00
Salaries Payable 1,800.00
Pascual Capital ₱ 50,000.00
Pascual Withdrawals ₱ 12,000.00
Consulting Revenues ₱ 98,000.00 10000
Salaries Expense 12,000.00 1,800.00
Supplies Expense 4,700.00
Rent Expense ₱ 8,000.00
Depreciation Expense 800.00
186,000.00 186,000.00 17300 17300
Net Income
-
Adjusted Trial Balance Income Statement Financial Position
Debit Credit Debit Credit Debit Credit
23,800.00 23,800.00
58,000.00 58,000.00
2,500.00 2,500.00
75,000.00 75,000.00
800.00 800.00
38,000.00 38,000.00
1,800.00 1,800.00
₱ 50,000.00 ₱ 50,000.00
₱ 12,000.00 ₱ 12,000.00
₱ 108,000.00 ₱ 108,000.00
13,800.00 13,800.00
4,700.00 4,700.00
₱ 8,000.00 ₱ 8,000.00
800.00 800.00
198,600.00 198,600.00 39,300.00 108,000.00 159,300.00 90,600.00
68,700.00 68,700.00
108,000.00 108,000.00 159,300.00 159,300.00
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