Instructions:

1 This File contains 12 Sheets

Instructions
Service Revenue Journal Service Rev J'!A1
Cash Receipts Journal Cash Receipts J'!A1
Cash Payments Journal Cash Payment J'!A1
Chart of Accounts and Beginning Balances
Assets Ledger
Liabilities Ledger
Capital Ledger
Drawing Ledger
Revenue Ledger
Expenses Ledger
Trial Balances (for Unadjusted Balances)
2 Complete the following Special Journals first
Service Revenue Journal
Cash Receipts Journal
Cash Payments Journal
3 On the Chart of Accounts & Beginning Balances Sheet
follow instructions on naming the table
4 Prepare the Ledgers, follow instructions carefully
Follow instructions carefully on entering formulas
Copy and Paste as instructed so that the formula will be copied without error
Complete first the required number of ledgers before posting amounts from the special journals.
5 Enter account number in the ledger (see chart of accounts for the proper account numbers to be used)
The account title and beginning balance will appear simultaneously

Account Cash
Date Items Debit

6 Post totals from the special journals (Service Revenue Journal, Cash Receipts Journal and Cash Payments J
always check whether the amounts should be on the debit or credit side of the ledger

Account Cash
Date Items Debit
Beg balance
from Service Rev Journal
From Cash Receipts Journal total from CRJ
from Cash Payments Journal
Unadjusted balance
Adjustments
 Adjusted Balances

7 Link the ending balances of each account to the Trial Balance

Total the debits and credits. They should be equal

8 Copy Trial balance into another sheet "Worksheet"

Add columns to your trial balance

Account Titles Trial Balance

Debit

9 Enter the following Data for adjustments

31-Jan Insurance Expired during the month P2,000
31-Jan Inventory of supplies as of the end of the month, P4,120
31-Jan Accrued salaries, P 3,000
31-Jan Accrued utilities, P1,205
31-Jan Depreciation rate is 10% per year
rom the special journals.
nt numbers to be used)

Acct No. A101

Credit Balance
29,000

urnal and Cash Payments Journal) to the specific ledger accounts

e of the ledger

Acct No. A101

Credit Balance
29,000

total from CPJ

this amount will be forwarded (linked) to a Trial Balance
 Trial Balance Adjustments Adjusted Trial Balance Balance Sheet Income Statement
Credit Debit Credit Debit Credit Debit Credit Debit Credit

of the month, P4,120

 (Font 14, Bold, Merge and Center from Col A to F)
SERVICE REVENUE JOURNAL
Accounts
Customer Service Revenue Output Tax Receivable Wrap Text, Bold, Italicized, Center
Date Credit Credit Debit
Jan 1 Basilio 40178.57 4821.43 45000.00
2 Crispin 16071.43 1928.57 18000.00
5 Sisa 22400.00 2688.00 25088.00
6 Maria Clara 16518.65 1982.24 18500.89 Format all amounts to two dec
15 Padre Damaso 21705.45 2604.65 24310.10
25 Don Santiago 14880.89 1785.71 16666.60
31 Ibarra 9405.76 1128.69 10534.45
141160.75 16939.29 158100.04
(E100) (B101) (A101) Get Totals & Double-Rule
Revenue Ledger'!A1 Liabilities Ledger'!A1
Assets Ledger'!A1

Format all amounts to two decimals places

write account number below the total after posting, example

Accounts Receivable
debit

158,100.04
(B101)
, Italicized, Center

Format all amounts to two decimals places

Makisig Company
INVOICE N 5348
DATE Jan 1, 2014

Customer Name BASILIO & Sons, Ltd

Address Espana, Manila

Sevices Rendered ###

VAT (12%) ###

Total Amount Due ###

Emiliano Jose Y. Casimiro III

 Font 14, Wrap Text, Bold, Italicized, Center, Column A up to Column H
CASH RECEIPTS JOURNAL
Accounts
Received from Makisig, Capital Receivable Service Revenue Output Tax
Date Credit Credit Credit Credit
Jan 1 Makisig 35000.00
8 Crispin 18000.00
15 Maria Clara 10714.29 1285.71
18 Cash Revenue 8035.71 964.29
22 Cash Revenue 4464.29 535.71
25 Basilio 15000.00
31 Sisa 25088.00

35000.00 58088.00 23214.29 2785.71

Capital Ledger'!A1Assets Ledger'!A1Revenue Ledger'!A1

Liabilities Ledger'!A1

1-Jan Makisig gave additional investment of P35,0000 Cash.

8-Jan Collected from Crispin, P18,000 (on account) Format all amounts to two decimals places
15-Jan Rendred Services to Maria Clara for cash, P12,000, Vat Inclusive
18-Jan Rendred Services for cash, P9,000, Vat Inclusive
22-Jan Rendred Services for cash, P5,000, Vat Inclusive
25-Jan Collected from Basilio, P15,000 (on Account)
31-Jan Collected from Sisa, P25,088 (on Account)
 Cash
Debit
35000.00
18000.00
12000.00
9000.00
5000.00
15000.00
25088.00

119088.00 Bold totals

es Ledger'!A1

12000 REV + VAT

 10% of Salaries
CASH PAYMENTS JOURNAL

Accounts Salaries WT Rent

Equipment Supplies Payable Expense Payable Expense
Date Payee Debit Debit Debit Debit Credit Debit
Jan 1 ACE 8928.57
3 National bookstore 4400.00
6 Rent 14000.00
15 Salaries 23200.00 2320.00
22 Utilities Expense
26 Mang Dodong
29 Mr Five Six 10000.00
30 Makisig , Drawing

8928.57 4400.00 10000.00 23200.00 2320.00 14000.00

Paid for the following

Jan 1 Purchased Equipment, P10,000, (VAT Inclusive) from ACE
3 Purchased Supplies, P4,928 from National Bookstore, VAT inclusive Input Tax
6 Paid Rent for the month, P14,000 plus VAT, withheld 5% Rent Ex
15 Paid Salaries for the month, P23,200 less 10% withholding tax EWT P
22 Paid MERALCO & MAYNILAD, P4,120 VAT Inclusive CASh
26 Paid Mang Dodong Repairs for services rendered, P2,100 + VAT
29 Partial payment of last year's account from Mr Five Six, P10,000
30 Makisig withdrew P4,000 for personal use.
 5% of Rent 12% of Equpment, Supplies, Rent, Utitilites, Repair & Maintenance, Insurance Exp
NTS JOURNAL
Wrap Text,
Expanded Repair & Bold,
WT Utilities Maintenan Insurance Italicized,
Payable Expense ce Expense Drawing Input Tax Cash Center
Credit Debit Debit Debit Debit Debit Credit
1071.43 10000.00 create formula
528.00 4928.00
700.00 1680.00 14980.00 debits - credits
20880.00
3678.57 441.43 4120.00
2100.00 252.00 2352.00
10000.00
4000.00 4000.00

700.00 3678.57 2100.00 4000.00 3972.86 71260.00 Bold totals

1,680.00 (14,000 X 12%)

14,000.00 15680
(700.00) (14,000 x 5%)
14,980.00
pair & Maintenance, Insurance Expense

create formula

debits - credits
 Acct No Account Title Beg Balance
A100 Cash 29,000.00
A101 Accounts Receivable 31,000.00
A102 Input Tax
A103 Supplies 2,100.00
A104 Equipment 42,000.00
A105 Accumulated Depreciation
A106 Prepaid Insurance 12,000.00
B100 Accounts Payable 14,000.00
B101 Output Tax
B102 Utilities Payable
Name the table B103 Salaries Payable
CHART B104 Notes Payable 30,000.00
B105 Withholding Tax payable 2,500.00
B106 Expanded Withholding Tax Payable 700.00
To name a table: C100 Makisig, Capital 68,900.00
Highlight table, D100 Makisig, Drawing
Click Formula, E100 Service Revenue
Define Name F100 Rent Expense
F101 Salaries Expense
F102 Utilities Expense
F103 Supplies Expense
F104 Repair & Maintenance
F105 Insurance Expense
F106 Depreciation Expense
 28" 14" 14" 14"

Account Cash Acct No. A100

Date Items Debit Credit Balance
Beg balance 29,000.00
from Service Rev Journal 29,000.00
From Cash Receipts Journal 119,088.00 148,088.00
from Cash Payments Journal 71,260.00 76,828.00
Unadjusted balance 76,828.00
Adjustments 76,828.00
ADJUSTED BALANCE 76,828.00

Account Accounts Receivable Acct No. A101

Date Items Debit Credit Balance
Beg balance 31,000.00
from Service Rev Journal 158,100.04 189,100.04
From Cash Receipts Journal 58,088.00 131,012.04
from Cash Payments Journal 131,012.04
Unadjusted balance 131,012.04
Adjustments 131,012.04
ADJUSTED BALANCE 131,012.04

Account Input Tax Acct No. A102

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 3,972.86 3,972.86
Unadjusted balance 3,972.86
Adjustments 3,972.86
ADJUSTED BALANCE 3,972.86

Account Supplies Acct No. A103

Date Items Debit Credit Balance
Beg balance 2,100.00
 from Service Rev Journal 2,100.00
From Cash Receipts Journal 2,100.00
from Cash Payments Journal 4,400.00 6,500.00
Unadjusted balance 6,500.00
Adjustments 2,380.00 4,120.00
ADJUSTED BALANCE 4,120.00

Account Equipment Acct No. A104

Date Items Debit Credit Balance
Beg balance 42,000.00
from Service Rev Journal 42,000.00
From Cash Receipts Journal 42,000.00
from Cash Payments Journal 8,928.57 50,928.57
Unadjusted balance 50,928.57
Adjustments 50,928.57
ADJUSTED BALANCE 50,928.57

Account Accumulated Depreciation Acct No. A105

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 424.40 424.40
ADJUSTED BALANCE 424.40

Account Prepaid Insurance Acct No. A106

Date Items Debit Credit Balance
Beg balance 12,000.00
from Service Rev Journal 12,000.00
From Cash Receipts Journal 12,000.00
from Cash Payments Journal 12,000.00
Unadjusted balance 12,000.00
Adjustments 2,000.00 10,000.00
ADJUSTED BALANCE 10,000.00
 Enter formula so that Account Name will appear when Acct No is entered
=VLOOKUP(F4, Chart,2)

Enter account number, Account Title automatically appears as well as beginning balance
Vlookup F4 to insert beginning balance
beginnng balance +D7-E7
"beginning balance + debit from SRJ - credit from SRJ"
Copy and Paste this table 6x for the other assets
copy formula

forward to Trial Balance

amount seen on the financial statement

CHANGE THE "BALANCE" FORMULA FOR ACCUMULATED DEPRECIATION
 28" 14" 14" 14"

Account Accounts Payable Acct No. B100

Date Items Debit Credit Balance
Beg balance 14,000.00
from Service Rev Journal 14,000.00
From Cash Receipts Journal 14,000.00
from Cash Payments Journal 10,000.00 4,000.00
Unadjusted balance 4,000.00
Adjustments 4,000.00
ADJUSTED BALANCE 4,000.00

Account Output Tax Acct No. B101

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal 16,939.29 16,939.29
From Cash Receipts Journal 2,785.71 19,725.00
from Cash Payments Journal 19,725.00
Unadjusted balance 19,725.00
Adjustments 19,725.00
ADJUSTED BALANCE 19,725.00

Account Utilities Payable Acct No. B102

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 1,205.00 1,205.00
ADJUSTED BALANCE 1,205.00

Account Salaries Payable Acct No. B103

 Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 3,000.00 3,000.00
ADJUSTED BALANCE 3,000.00

Account Notes Payable Acct No. B104

Date Items Debit Credit Balance
Beg balance 30,000.00
from Service Rev Journal 30,000.00
From Cash Receipts Journal 30,000.00
from Cash Payments Journal 30,000.00
Unadjusted balance 30,000.00
Adjustments 30,000.00
ADJUSTED BALANCE 30,000.00

Account Withholding Tax payable Acct No. B105

Date Items Debit Credit Balance
Beg balance 2,500.00
from Service Rev Journal 2,500.00
From Cash Receipts Journal 2,500.00
from Cash Payments Journal 2,320.00 4,820.00
Unadjusted balance 4,820.00
Adjustments 4,820.00
ADJUSTED BALANCE 4,820.00

Account Expanded Withholding Tax Payable Acct No. B106

Date Items Debit Credit Balance
Beg balance 700.00
from Service Rev Journal 700.00
From Cash Receipts Journal 700.00
from Cash Payments Journal 700.00 1,400.00
Unadjusted balance 1,400.00
Adjustments 1,400.00
ADJUSTED BALANCE 1,400.00
Enter account number, Account Title automatically appears as well as beginning balance

vertical lookup (VLOOKUP) F6 from chart of accounts

"beginning balance + CREDIT from SRJ (E7) - DEBIT from SRJ(D7)"
Copy and Paste this table 6x for the other liabilities
copy formula

forward to Trial Balance

Service Rev J'!A1
28" 14" 14" 14"

Account Makisig, Capital Acct No. C100

Date Items Debit Credit Balance
Beg balance 68,900.00
from Service Rev Journal 68,900.00
From Cash Receipts Journal 35,000.00 103,900.00
from Cash Payments Journal 103,900.00
Unadjusted balance 103,900.00
Adjustments 103,900.00
ADJUSTED BALANCE 103,900.00
Closing Entries 112,387.07 216,287.07
Closing Entries 4,000.00 212,287.07
ENDING BALANCE 212,287.07
Enter account number, Account Title automatically appears as well as beginning balance

use VLOOKUP to get beginning balance of capital

same formula with liabilities Beg balance + Credit - Debit

copy formula
 28" 14" 14" 14"

Account Makisig, Drawing Acct No. D100

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 4,000.00 4,000.00
Unadjusted balance 4,000.00
Adjustments 4,000.00
ADJUSTED BALANCE 4,000.00
Closing Entries 4,000.00 -
Enter account number, Account Title automatically appears as well as beginning balance

same formula with Asset Ledger

"beginning balance + debit from SRJ - credit from SRJ"

copy formula

forward to Trial Balance

Cash Receipts J'!A1
28" 14" 14" 14"

Account Service Revenue Acct No. E100

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal 141,160.75 141,160.75
From Cash Receipts Journal 23,214.29 164,375.04
from Cash Payments Journal 164,375.04
Unadjusted balance 164,375.04
Adjustments 164,375.04
ADJUSTED BALANCE 164,375.04
Closing Entries 164,375.04 -
Enter account number, Account Title automatically appears as well as beginning balance

same formula with liabilities

"beginning balance + CREDIT from SRJ - DEBIT from SRJ"

copy formula

forward to Trial Balance

 28" 14" 14" 14"

Account Rent Expense Acct No. F100

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 14,000.00 14,000.00
Unadjusted balance 14,000.00
Adjustments 14,000.00
ADJUSTED BALANCE 14,000.00
Closing Entries 14,000.00 -

Account Salaries Expense Acct No. F101

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 23,200.00 23,200.00
Unadjusted balance 23,200.00
Adjustments 3,000.00 26,200.00
ADJUSTED BALANCE 26,200.00
Closing Entries 26,200.00 -

Account Utilities Expense Acct No. F102

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 3,678.57 3,678.57
Unadjusted balance 3,678.57
Adjustments 1,205.00 4,883.57
ADJUSTED BALANCE 4,883.57
Closing Entries 4,883.57 -

Account Supplies Expense Acct No. F103

 Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 2,380.00 2,380.00
ADJUSTED BALANCE 2,380.00
Closing Entries 2,380.00 -

Account Repair & Maintenance Acct No. F104

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal 2,100.00 2,100.00
Unadjusted balance 2,100.00
Adjustments 2,100.00
ADJUSTED BALANCE 2,100.00
Closing Entries 2,100.00 -

Account Insurance Expense Acct No. F105

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 2,000.00 2,000.00
ADJUSTED BALANCE 2,000.00
Closing Entries 2,000.00 -

Account Depreciation Expense Acct No. F106

Date Items Debit Credit Balance
Beg balance -
from Service Rev Journal -
From Cash Receipts Journal -
from Cash Payments Journal -
Unadjusted balance -
Adjustments 424.40 424.40
ADJUSTED BALANCE 424.40
Closing Entries 424.40 -
Enter account number, Account Title automatically appears as well as beginning balance

same formula with assets

"beginning balance + debit from SRJ - credit from SRJ"
Copy and Paste this table 6x for the other Expenses
copy formula

forward to Trial Balance

 MAKISIG COMPANY
Trial Balance
January 31, 2014

Acct No Account Title Debit Credit

A100 Cash 76,828.00
A101 Accounts Receivable 131,012.04
A102 Input Tax 3,972.86
A103 Supplies 6,500.00
A104 Equipment 50,928.57
A105 Accumulated Depreciation -
A106 Prepaid Insurance 12,000.00
B100 Accounts Payable 4,000.00
B101 Output Tax 19,725.00
B102 Utilities Payable -
B103 Salaries Payable -
B104 Notes Payable 30,000.00
B105 Withholding Tax payable 4,820.00
B106 Expanded Withholding Tax Payable 1,400.00
C100 Makisig, Capital 103,900.00
D100 Makisig, Drawing 4,000.00
E100 Service Revenue 164,375.04
F100 Rent Expense 14,000.00
F101 Salaries Expense 23,200.00
F102 Utilities Expense 3,678.57
F103 Supplies Expense -
F104 Repair & Maintenance 2,100.00
F105 Insurance Expense -
F106 Depreciation Expense -

Total 328,220.04 328,220.04

 ='Assets Ledger'!F10

link amounts here from your ledger (Assets, Cash) get the unadjusted balance
how to "link"……….. Equal sign…then go to the cell you want to link

link amounts here from your ledger (Liabilites, Accounts Payable)

get the unadjusted balance
 MAKISIG C
Work S
For the Month Ende
Trial Balance Adjustments
Acct No Account Titles Debit Credit Debit
A100 Cash 76,828.00
A101 Accounts Receivable 131,012.04
A102 Input Tax 3,972.86
A103 Supplies 6,500.00
A104 Equipment 50,928.57
A105 Accumulated Depreciation -
A106 Prepaid Insurance 12,000.00
B100 Accounts Payable 4,000.00
B101 Output Tax 19,725.00
B102 Utilities Payable -
B103 Salaries Payable -
B104 Notes Payable 30,000.00
B105 Withholding Tax payable 4,820.00
B106 Expanded Withholding Tax Payable 1,400.00
C100 Makisig, Capital 103,900.00
D100 Makisig, Drawing 4,000.00
E100 Service Revenue 164,375.04
F100 Rent Expense 14,000.00
F101 Salaries Expense 23,200.00 3,000.00
F102 Utilities Expense 3,678.57 1,205.00
F103 Supplies Expense - 2,380.00
F104 Repair & Maintenance 2,100.00
F105 Insurance Expense - 2,000.00
F106 Depreciation Expense - 424.40
Total 328,220.04 328,220.04 9,009.40
Net Income
 MAKISIG COMPANY
Work Sheet
For the Month Ended January 31, 2014
Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Credit Debit Credit Debit Credit Debit
76,828.00 76,828.00
131,012.04 131,012.04
3,972.86 3,972.86
2,380.00 4,120.00 4,120.00
50,928.57 50,928.57
424.40 424.40
2,000.00 10,000.00 10,000.00
4,000.00
19,725.00
1,205.00 1,205.00
3,000.00 3,000.00
30,000.00
4,820.00
1,400.00
103,900.00
4,000.00 4,000.00
164,375.04 164,375.04
14,000.00 14,000.00
26,200.00 26,200.00
4,883.57 4,883.57
2,380.00 2,380.00
2,100.00 2,100.00
2,000.00 2,000.00
424.40 424.40
9,009.40 332,849.44 332,849.44 51,987.97 164,375.04 280,861.47
112,387.07
164,375.04 164,375.04 280,861.47
Balance Sheet
Credit

424.40

4,000.00
19,725.00
1,205.00
3,000.00
30,000.00
4,820.00
1,400.00
103,900.00

168,474.40
112,387.07
280,861.47
 MAKISIG COMPANY
Statement of Comprehensive Income
For the Month Ended January 31, 2014

Service Revenue ₱ 164,375.04

Less: Operating Expenses
Rent Expense ₱ 14,000.00
Salaries Expense 26,200.00
Utilities Expense 4,883.57
Supplies Expense 2,380.00
Repair & Maintenance 2,100.00
Insurance Expense 2,000.00
Depreciation Expense 424.40
Total Operating Expenses 51,987.97
Net Income ₱ 112,387.07

MAKISIG COMPANY
Statement of Financial Position
January 31, 2014.

Assets
Current Assets
Cash ₱ 76,828.00
Accounts Receivable 131,012.04
Input Tax 3,972.86
Supplies 4,120.00
Prepaid Insurance 10,000.00
Total Current Assets ₱ 225,932.90
Non-current Assets
Equipment ₱ 50,928.57
Less: Accumulated Depreciation 424.40 50,504.17
TOTAL ASSETS ₱ 276,437.07

Liabilities
Current Liabilities
Accounts Payable ₱ 4,000.00
Output Tax 19,725.00
Utilities Payable 1,205.00
Salaries Payable 3,000.00
Notes Payable 30,000.00
Withholding Tax payable 4,820.00
Expanded Withholding Tax Payable 1,400.00
TOTAL ₱ 64,150.00
 Capital
Makisig, Capital 212,287.07
TOTAL LIABILITIES & CAPITAL ₱ 276,437.07
 MAKISIG COMPANY
Statement of Changes in Equity
For the Month Ended January 31, 2014

Capital, January 1, 2014 ₱ 68,900.00

Add: Additional Investment 35,000.00
Net income for the month 112,387.07
Total ₱ 216,287.07
Less: Withdrawal 4,000.00
Capital, January 31, 2014 ₱ 212,287.07

MAKISIG COMPANY
Statement of Cash Flows
For the Month Ended January 31, 2014

Cash flows from operating activities:

Cash received from customers ₱ 84,088.00
Payments for salaries and other operating expenses (57,260.00)
Net cash used for operating activities ₱ 26,828.00
Cash flows from investing activities:
Cash paid for purchased of plant assets (10,000.00)
Cash flows from financing activities:
Cash investment by the owner ₱ 35,000.00
Cash withdrawal by the owner (4,000.00)
Cash provided by financing activities 31,000.00
Net increase in cash ₱ 47,828.00
Cash balance, January 1 29,000.00
Cash balance, January 31 ₱ 76,828.00