REQUIRED: • TRIAL BALANCE (with dr and cr) Account Title: CashDateDec 1Dec 2Dec 8Dec 31ParticularsCapitalProfessional FeesAccount Title: Accounts ReceivableDateDec 4Loan PayableAccounts ReceivableDateDec 2Dec 18Account Title: Notes ReceivableDateParticularsDec 10 Professional FeesParticularsProfessional FeesAccount Title: Furniture and FixturesDateParticularsCashAccounts PayableAccount Title: Office EquipmentDateParticularsDec 1CashDec 1Accounts PayableDec 20Notes PayableAccount Title: Professional FeesParticularsBy BalanceAccount Title: Rent ExpenseDateDec 1ParticularsCashGENERAL LEDGERPR DebitDateP200,000 Dec 1Dec 1Dec 1Dec 2P238,400PR DebitPR DebitPR DebitPR Debit5,60020,00012,800PR DebitPR DebitP38,000P38,000P12,000P12,000P40,00040,00032,000P112,000P12,50015,000P27,500P55,600P55,600Dec 3Dec 15Dec 15Dec 31Dec 31Dec 31P16,400P16,400DateDec 31Account No.: 102DateDateAccount No.: 103Account No.: 101DateParticularsRent ExpenseOffice Supplies ExpenseOffice EquipmentDateDec 2Dec 4Dec 10Account No.: 501Furniture & FixturesAccounts PayableSalaries ExpenseG.P's DrawingsTaxes and LicensesSalaries ExpenseAccounts PayableBy BalanceAccount No.: 104DateParticularsCashBy BalanceAccount No.: 105ParticularsBy BalanceParticularsBy BalanceParticularsBy BalanceAccount No.: 401ParticularsCashAccounts ReceivableNotes ReceivableParticularsBy BalancePRPRPRCreditPRP16,40015,50040,00012,5004,00016,50010,0003,00014,2504,000102.250P238,400PR CreditPRCreditP12,80025,200P38,000PR CreditP12,000P12,000P27,500P27,500CreditP112,000P112,000CreditP5,60038,00012,000P55,600CreditP16,400P16,400 Account Title: Office Supplies ExpenseDateParticularsDec 1CashAccount Title: Salaries ExpenseDateDec 15Dec 31Account Title: Taxes and License ExpenseDateParticularsDec 15CashAccount Title: Accounts PayableParticularsCashCashTo BalanceDateDec 3Dec 31ParticularsTo CashTo CashAccount Title: Notes PayableParticularsTo BalanceDateAccount Title: G.P's CapitalDateDateParticularsTo balanceAccount Title: G.P's DrawingsParticularsBalancePR DebitPRDebitPR DebitPR DebitPR DebitPR DebitAccount No.: 502PR DebitP15,500P15,500P15,50014,250P30,750P3,000P3,000Account No.: 505P4,0004,00047,000P55,000DateP32,000P32,000P200,000P200,000Account No.: 201Account No.: 504DateDateDateDec 1Dec 18DateDec 20ParticularsBy BalanceDateDec 1ParticularsBy BalanceAccount No.: 202DateP10,000 Dec 1P10,000ParticularsBy BalanceParticularsOffice EquipmentFurniture & FixturesAccount No.: 203ParticularsOffice EquipmentParticularsCashAccount No.: 204ParticularsCashPR CreditPRPRPRPRP15,500P15,500PR CreditPRCreditP30,750P30,750P3,000P3,000CreditP40,00015,000P55,000CreditP32,000P32,000CreditP200,000P200,000CreditP10,000P10,000

The trial balance is prepared to record the final balance of each account of the business in debit…

Account Title: Cash Date Dec 1 Dec 2 Particulars Capital Professional Fees Dec 8 Loan Payable Dec 31 Accounts Receivable Account Title: Accounts Receivable Particulars Date Dec 4 Professional Fees Account Title: Notes Receivable Date Dec 10 Particulars Professional Fees PR Debit P200,000 5,600 20,000 12,800 P238,400 PR Debit PR Debit P38,000 P38,000 P12,000 P12,000 Date Dec 1 Dec 1 Dec 1 Dec 2 Dec 3 Dec 15 Dec 15 Dec 31 Dec 31 Dec 31 Date Dec 31 Account No.: 101 Particulars Rent Expense Office Supplies Expense Office Equipment Furniture & Fixtures Accounts Payable Salaries Expense Account No.: 102 Date G.P's Drawings Taxes and Licenses Salaries Expense Accounts Payable By Balance Particulars Cash By Balance Account No.: 103 Particulars By Balance PR PR Credit P16,400 15,500 40,000 12,500 4,000 16,500 10,000 3,000 14,250 4,000 102,250 P238,400 Credit P12,800 25,200 P38,000 PR Credit P12,000 P12,000

Account Title: Cash Date Dec 1 Dec 2 Particulars Capital Professional Fees Dec 8 Loan Payable Dec 31 Accounts Receivable Account Title: Accounts Receivable Particulars Date Dec 4 Professional Fees Account Title: Notes Receivable Date Dec 10 Particulars Professional Fees PR Debit P200,000 5,600 20,000 12,800 P238,400 PR Debit PR Debit P38,000 P38,000 P12,000 P12,000 Date Dec 1 Dec 1 Dec 1 Dec 2 Dec 3 Dec 15 Dec 15 Dec 31 Dec 31 Dec 31 Date Dec 31 Account No.: 101 Particulars Rent Expense Office Supplies Expense Office Equipment Furniture & Fixtures Accounts Payable Salaries Expense Account No.: 102 Date G.P's Drawings Taxes and Licenses Salaries Expense Accounts Payable By Balance Particulars Cash By Balance Account No.: 103 Particulars By Balance PR PR Credit P16,400 15,500 40,000 12,500 4,000 16,500 10,000 3,000 14,250 4,000 102,250 P238,400 Credit P12,800 25,200 P38,000 PR Credit P12,000 P12,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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