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Acc Outing G

The document presents a detailed financial overview including a trial balance, adjustments, and an adjusted trial balance for various accounts. It highlights key figures such as total debits and credits, net income, and balances for accounts receivable, payable, and expenses. Additionally, it includes an income statement, balance sheet, and closing entries, summarizing the financial position of the entity.

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14 views5 pages

Acc Outing G

The document presents a detailed financial overview including a trial balance, adjustments, and an adjusted trial balance for various accounts. It highlights key figures such as total debits and credits, net income, and balances for accounts receivable, payable, and expenses. Additionally, it includes an income statement, balance sheet, and closing entries, summarizing the financial position of the entity.

Uploaded by

ophelialeighdump
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as XLSX, PDF, TXT or read online on Scribd
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TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE

Account Title Debit Credit Debit Credit Debit Credit


Cash 730,000 279,000 730,000
Accounts Rece 225,000 155,000 225,000
Prepaid Rent 60,000 30,000 60,000
Office Equipm 90,000 90,000
Accum. Depreciation-Office Equipment 3,000 3,000
Office Furnitur 120,000 2,000 120,000
Accum. Depreciation-Office Furniture 2,000
Office Supplie 18,000 15,000 18,000
Accounts Paya 30,000 128,000 128,000
Unearned Design Revenue 50,000 25,000 25,000
Salaries Payable 15,000 15,000
Carpio, Capital 500,000 500,000
Carpio, Withdr 20,000 20,000
Income and Expense Summary
Income and Expense Summary
Design Revenue 250,000 25,000 320,000
Advertising E 3,000 3,000
Internet Expen 5,000 5,000
Salaries Expe 40,000 15,000 55,000
Taxes and Lic 12,000 12,000
Transportation 2,000 2,000
Utilities Expen 7,000 7,000
Supplies Expense 15,000 15,000
Rent Expense 30,000 30,000
Depreciation Expense 5,000 5,000
Total 1,362,000 1,362,000 90,000 90,000 1,397,000 993,000
Net Income ₱161,000 ₱161,000 ₱161,000

ACCOUNTS RECEIVABLE Prepaid Rent


Debit Credit Balance Debit Credit Balance
225,000 225,000 (Debit) 60,000 20,000 40,000 (Debit)

Accumulated Depreciation - Office Equipment ACCOUNTS PAYABLE


Debit Credit Balance Debit Credit Balance
9,000 9,000 (Credit) 70,000 70,000 (Credit
DESIGN REVENUE RENT EXPENSE
Debit Credit Balance Debit Credit Balance
400,000 400,000 (Credit) 20,000 20,000 (Debit)

DEPRECIATION EXPENSE CARPIO CAPITAL


Debit Credit Balance Debit Credit Balance
9,000 9,000 (Debit) 1,111,000 1,111,000 (Cre

OFFICE EQUIPMENT SALARIES EXPENSE


Debit Credit Balance Debit Credit Balance
90,000 90,000 (Debit) 15,000 15,000 (Debit)

SALARIES PAYABLE CARPIO WITHDRAWAL


Debit Credit Balance Debit Credit Balance
15,000 15,000 (Credit) 45,000 45,000 (Debit)
INCOME STATEMENT BALANCE SHEET CLOSING ENTRIES POST-CLOSING TRIAL BALAN
Debit Credit Debit Credit Debit Credit Debit
730,000 730,000
225,000 225,000
60,000 60,000
90,000 90,000
3,000
120,000 120,000
2,000
18,000 18,000
128,000
25,000
15,000
641,000
429,000
295,000
134,000
295,000 295,000
3,000 3,000
5,000 5,000
55,000 55,000
12,000 12,000
2,000 2,000
7,000 7,000
15,000 15,000
30,000 30,000
5,000 5,000
134,000 295,000 1,243,000 1243000 429,000 429,000 1,243,000
161,000 ₱161,000 ₱161,000 ₱161,000
,000 (Debit)

,000 (Debit)
CLOSING TRIAL BALANCE
Credit

3,000

2,000

128,000
25,000
15,000
1,070,000

1,243,000
₱161,000

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