10-COLUMN

WORKSHEET
OBJECTIVES

-Students will be able to identify and

explain the purpose of each column
in the 10-column worksheet.

-Students will learn how to

accurately record initial trial balance
entries and make necessary
adjustments.

-Students will be able to prepare an

Income Statement and a Balance
Sheet using the information from the
10-column worksheet.
AGENDA

What is a 10-Column Worksheet

Sections of a 10-Column Worksheet

How to make a 10-Column

Worksheet

Sample Exercise
EXERCISES

Since a Trial Balance is crucial in this

lesson, let’s take an exercise
involving the same.
MOVING FORWARD…

9
WHAT IS A 10-COLUMN WORKSHEET?

• A columnar template that helps accountants and

bookkeepers plan and facilitate the end-of-year reporting
process

• Not a required part of the accounting cycle but invaluable in

preparing for the year-end reporting of a company

10
SECTIONS OF A 10-COLUMN WORKSHEET

1. Account Titles

2. Unadjusted Trial Balance (2 columns for debit and credit)

3. Adjustments (2 columns for debit and credit)

4. Adjusted Trial Balance (2 columns for debit and credit)

5. Statement of Comprehensive Income (2 columns for debit and

credit)

6. Statement of Financial Position (2 columns for debit and credit)

11
 2 3 4 5 6
1

12
M A K I N G A 1 0 - C O LU M N
WORKSHEET

LET’S DO IT
TOGETHER!

13
 P R O B L E M ( P T. 1 )
P A G A W A R E P A I R S E R V I C E S I S A S E R V I C E B U S I N E S S T H AT
R E P A I R S E L E C T R O N I C S I N T H E G R E AT E R C A V I T E A R E A .
BE LOW A RE T H E IR AC COU NT BA L A NCE S L IFT E D FROM T H E L E D GE R A S OF
THE YEAR ENDED DECEMBER 31, 2021.
Accounts Payable 131500
Accounts Receivable 217900
Accumulated Depreciation - Equipment 10000
Advertising Expense 78000
Allowance for Doubtful Accounts 750
Cash 412000
Equipment 97500
Kagawa, Capital 221190
Kagawa, Drawings 50000
Notes Payable (Long-Term) 175000
Office Supplies Expense 86540
Prepaid Rent 120000
Salaries Expense 360000
Service Income 958400
Transportation Expense 35900
Unearned Income 75000
Utilities Expense 114000
STEP 1: HEADINGS

At the top three rows of your columnar pad, write the following:

Row 1: [COMPANY NAME]

Row 2: Worksheet
Row 3: For the year ended [Date of Year-End]

15
16
STEP 1.2: HEADINGS

1. At the top of each column, write the respective headings.

• Start with “Account Titles”, then “Unadjusted Trial Balance”, then
“Adjustments”, then “Adjusted Trial Balance”, then “Income
Statement”, and lastly “Balance Sheet”
• From “Unadjusted Trial Balance” onwards, write Debit and Credit on
the left and write columns respectively

17
STEP 2: LIST DOWN THE ACCOUNT TITLES

1. On the “Account Titles” column, list down all the account titles in the
following order:
1. Current Assets 5. Equity
2. Non-Current Assets 6. Drawings
3. Current Liabilities 7. Revenue
4. Non-Current Liabilities 8. Expenses

Note: If there are any contra accounts, place them below the account it
deducts.
18
STEP 3: COMPLETE THE TRIAL BALANCE

1. Create the trial balance, placing the respective balances in the proper
debit/credit column.
• Don’t forget to place the peso sign on the very first entry
2. Combine all debit balances and then all the credit balances after the
last row. Make sure it is balanced.
• Don’t forget to rule and double-rule as necessary

19
20
 P R O B L E M ( P T. 2 )
T H E F O L LO W I N G A R E T H E A D J U S T M E N T S T O B E M A D E BY T H E Y E A R E N D E D
DECEMBER 31, 2021:

a) H I S T O R I C A L LY , T H E C O M P A N Y D E E M S 2 % O F T H E C O M P A N Y ’ S A C C O U N T S
R E C E I V A B L E B A L A N C E T O B E U N C O L L E C TA B L E .
b) T H E E Q U I P M E N T W A S P U R C H A S E D L A S T J U LY 1 , 2 0 2 1 , A N D H A S A
S A LV A G E V A L U E O F 1 7 , 5 0 0 W I T H A U S E F U L L I F E O F 4 Y E A R S
c) T H E P R E P A I D R E N T B A L A N C E I S A N A D V A N C E D P AY M E N T M A D E L A S T
O C T O B E R 3 1 , 2 0 2 1 , F O R A R E N TA L T E R M O F 6 M O N T H S S TA RT I N G
NOVEMBER 2021.
d) U P O N P H Y S I C A L C O U N T , T H E V A L U E O F T H E R E M A I N I N G O F F I C E S U P P L I E S
IS PHP 39,000.
e) T H E U N E A R N E D I N C O M E A C C O U N T R E P R E S E N T S A N A D V A N C E D P AY M E N T
M A D E BY A C U S T O M E R F O R A 3 - M O N T H R E G U L A R M A I N T E N A N C E
C O N T R A C T S TA RT I N G D E C E M B E R 2 0 2 1 .
f) T H E C O M P A N Y H A S P H P 7 5 , 0 0 0 W O RT H O F U N P A I D S A L A R I E S B Y Y E A R -
E N D , A S T H I S I S S T I L L T O B E PA I D O N T H E 1 0 T H O F T H E F O L LO W I N G
MONTH.
STEP 4: MAKE THE ADJUSTING ENTRIES
AND INPUT

1. Make the adjusting entries based on the given.

2. Input all adjustments made on the “Adjustments” columns, in their
respective debit and credit sections.
• Add more accounts in the account titles section as necessary
• Write a reference letter/number for each adjustment that you will
make
3. Get the total debit and total credit, rule and double-rule as necessary,
making sure that they are balanced.

22
23
STEP 5: ADJUSTED TRIAL BALANCE

1. Take the accounts in the “Unadjusted Trial Balance” columns, then

add/subtract the adjustments, placing the sum in the “Adjusted Trial
Balance” columns
• If there are no adjustments made, copy the balance as is.
• If the account is a normal debit balance, then add any debits and
deduct any credits.
• If the account is a normal credit balance, then add any credits and
deduct any debits.
2. Get the total debit and total credit, rule and double-rule as necessary,
making sure that they are balanced.
24
25
STEP 6: INCOME STATEMENT

1. For the “Income Statement” columns, copy the balances in “Adjusted

Trial Balance” for ALL REVENUE AND EXPENSE ACCOUNTS.
• If you get the total debit and total credit at this point, this will
USUALLY NOT be balanced immediately. That is okay.
2. Add “Net Income (Loss)” as an account title and compute for it. If you
ended up with Net Income, write the balance as Debit. If you ended up
with Net Loss, write the balance as a Credit.
3. Get the total debit and total credit, rule and double-rule as necessary,
making sure that they are balanced.

26
27
STEP 7: BALANCE SHEET

1. For the “Balance Sheet” columns, copy the balances in “Adjusted Trial
Balance” for ALL ASSET, LIABILITY, AND EQUITY ACCOUNTS.
• If you get the total debit and total credit at this point, this will
USUALLY NOT be balanced immediately. That is okay.
2. Copy Net Income (Loss) from your “Income Statement” Columns.
• Net Income will be a CREDIT in the BALANCE SHEET.
• Net Loss will be a DEBIT in the BALANCE SHEET.
3. Get the total debit and total credit, rule and double-rule as necessary,
making sure that they are balanced.

28
29
 YOU’RE DONE!!
C O N G R A T U L A T I O N S
ADDITIONAL

During our session last October 5, we already encountered adjusting

entries and how it affects several accounts.

32
33
34