Steps in The Manual Accounting Process (Accounting Cycle)

STEPS IN THE MANUAL ACCOUNTING PROCESS (ACCOUNTING CYCLE)
Transaction occurs
source document → transaction information →
and information is →
information is is posted from the
recorded in a source journal to the ledger
recorded in a journal
document
source documents journals ledger

→ → →
journalizing posting
a trial balance is → financial statements
prepared at the end are prepared for the
of the period decision makers
financial statements
ASSETS
110 Cash in BDO
120 Accounts receivable
140 Supplies
150 Prepaid rent
160 Prepaid insurance
180 Office equipment
190 Accumulated depreciation
LIABILITIES
210 Accounts payable
220 Salaries payable
230 Unearned fees
240 Utilities payable
250 Communications payable
EQUITY
310 Kaz Zionra, Capital
320 Kaz Zionra, Drawings
REVENUE
410 Consulting fees
EXPENSES
510 Salary expense
520 Rent expense
530 Supplies expense
540 Depreciation expense
550 Insurance expense
560 Utilities expense
570 Communication expense
580 Advertising expense
CASH RECEIPTS JOURNAL
CIB-BDO Consulting Fees Accts. Receivable

Date Particulars Debit Credit Credit
2020
Sept 4 OR 001 30,000.00 - -
002 8,000.00 (8,000.00)
003 31,750.00 (31,750.00)
004 18,500.00 (18,500.00)
005 16,000.00 (16,000.00)
006 20,500.00 (20,500.00)
124,750.00 (86,750.00) (8,000.00)

Account title Debit Credit
unearned fees 30,000
- - 30,000.00
CASH DISBURSEMENT JOURNAL
Prepaid Office
CIB-BPI Supplies Prepaid rent insurance equipment
Date Particulars Credit Debit Debit Debit Debit
2020
Sept 1 CV 001 (45,000) 45,000
002 (18,000) 18,000
003 (1,200)
004 (8,000)
005 (4,000)
006 (7,500) 7,500
007 (45,000)
008 (4,000)
(132,700) 7,500 45,000 18,000 -

Accounts Kaz Zionra, Communication Advertising
payable Drawing Salary expense Utilities expense expense expense
Debit Debit Debit Debit Debit Debit
1,200
8,000
4,000
45,000
4,000
8,000 45,000 8,000 - 1,200

Account title Debit Credit
- - - -
GENERAL JOURNAL
Date Particulars PR Debit Credit

2020
Sept 1 Accounts receiable 15,000
Supplies 12,500
Office equipment 75,000
Kaz Zionra, Capital 102,500
to record capital contribution of Kaz
Cash in BDO 100,000

Kaz Zionra, Capital 100,000
to record cash investment of Kaz
5 Office equipment 18,000

Accounts payable 18,000
to record purchase of office equipment on account
summary
cash in bdo 100,000
Accounts receiable 15,000
Supplies 12,500
Accounts payable - 18,000
Kaz Zionra, Capital - 202,500
220,500 220,500
Sept 30 Cash in BDO 500

Interest income 500
to record interest earned on bank deposits
Accounts receivable 43,500

Consulting fees revenue 43,500
to record billing statements
Supplies expense 9,800

Supplies 9,800
to record supplies expense
rent expense 15,000

prepaid rent 15,000
to record rent expense/ to reduce prepaid rent
insurance expense 1,500

prepaid insurance 1,500
to record insurance expense
depreciation expense 1,550

accumulated depreciation 1,550
to record depreciation expense
salary expense 800

salaries payable 800
to record salaries expense for Sept 29 and 30
unearned fees 10,000

consulting fees revenue 10,000
to record consulting fees earned
utilities expense 2,500

utilities payable 2,500
to record utilities expense
Consulting fees 140,250

Interest income 500
Income summary 140,750
to close revenue to ncome summary account
Income summary account 41,850

Rent 15,000
Supplies 9,800
Salary 8,800
Utilities 2,500
Depreciation 1,550
Insurance 1,500
Communication 1,500
Advertising 1,200
to close expenses to income summary account
Income summary 98,900

Kaz Zaionra, capital 98,900
Kaz Zaionra, capital 45,000

Kaz Zaionra, withdrawal 45,000
A=L+E C
W TEMPORARY
REVENUE TEMPORARY
EXPENSES TEMPORARY
INCOME SU TEMPORARY
income summary CONSULTING FEES
41,850 140,750 140,750 140,750
98,900
INCOME SUMMARY HAS A CREDIT BALANCE, THERE IS PROFIT

INCOME SUMMARY HAS A DEBIT BALANCE, THERE IS A LOSS
Cash in bank - BDO
Date Particulars PR Debit Date Particulars PR
2020 2020
Sept 30 CRJ 124,750.00 Sept 30 CDJ
GJ 100,000.00
92,050.00
GJ 500.00
92,550.00
ACCOUNTS RECEIVABLE
2020 2020
Sept 30 GJ 15,000.00 Sept 30 CRJ
7,000.00
SUPPLIES
2020 2020
Sept 30 GJ 12,500.00 Sept 30
CDJ 7,500.00
20,000.00
PREPAID RENT
2020
Sept 30 CDJ 45,000.00
45,000.00
PREPAID INSURANCE
2020
Sept 7 CDJ 18,000.00
18,000.00
OFFICE EQUIPMENT
2020
Sept 30 GJ 93,000.00
93,000.00
ACCUMULATE DEPRECIATION -OFFICE EQUIPMENT

2020
Sept 30
110 ACCOUNTS PAYABLE
Credit Date Particulars PR Debit Date
2020 2020
132,700.00 Sept 30 CDJ 8,000.00 Sept 30
120 SALARIES PAYABLE

2020 2020
8,000.00 Sept 30 Sept 30
140 UNEARNED FEES

2020 2020
Sept 30 Sept 30
150 UTILITIES PAYABLE

2020 2020
Sept 30 Sept 30
160 COMMUNICATIONS PAYABLE

2020 2020
Sept 30 Sept 30
180 Kaz Zionra, CAPITAL
2020 2020
Sept 30 Sept 30
190 Kaz Zionra, DRAWINGS

2020 2020
Sept 30 CDJ 45,000.00 Sept 30
Date Particulars PR Debit Date

2020 2020
Sept 30 Sept 30
210 CONSULTING FEES REVE
Particulars PR Credit Date Particulars PR
GJ 18,000.00
10,000.00
220 SALARY EXPENSE

2020
Sept 30 CDJ
-
230 RENT EXPENSE

2020
CRJ 30,000.00 Sept 30
30,000.00 -
240 SUPPLIES EXPENSE

2020
Sept 30
- -
250 DEPRECIATION EXPENSE

2020
Sept 30
- -
310 INSURANCE EXPENSE
2020
GJ 202,500.00 Sept 30
202,500.00 -
320 UTILITIES EXPENSE

2020
Sept 30
-
COMMUNICATIONS EXPEN
2020
Sept 30
- -
ADVERTISING EXPENSE
Date Particulars PR
2020
Sept 30 CDJ
INTEREST INCOME
Date Particulars PR
2020
Sept 30 GJ - CLOSING ENTRY
Date Particulars PR
2020
Sept 30
-
CONSULTING FEES REVENUE 410
Debit Date Particulars PR Credit
2020
- Sept 30 CRJ 86,750.00
86,750.00
SALARY EXPENSE 510

8,000.00
RENT EXPENSE 520 Office rental

Debit Date Particulars PR Credit Utilities
Salary
Supplies
Advertising
Equipment rentals
CD rentals
Royalties
Miscellaneous
SUPPLIES EXPENSE 530
DEPRECIATION EXPENSE 540

INSURANCE EXPENSE 550
UTILITIES EXPENSE 560

COMMUNICATIONS EXPENSE 570

ADVERTISING EXPENSE 580

1,200.00
INTEREST INCOME 580

500.00 SEPT 30 GJ - ADJUSTING ENTRY 500.00

590
SIMPLE CONSULTING
(Kaz Zionra, Proprietor) 10 column worksheet
WORKSHEET 8 column worksheet
As of and for the month ended September 30, 2020
TRIAL BALANCE
Acct. no. Account titles Debit Credit
110 Cash in BDO 92,050 1
120 Accounts receivable 7,000 2
140 Supplies 20,000
150 Prepaid rent 45,000
160 Prepaid insurance 18,000
180 Office equipment 93,000
190 Accumulated depreciation -
210 Accounts payable 10,000
220 Salaries payable -
230 Unearned fees 30,000 8
240 Utilities payable -
250 Communications payable -
310 Kaz Zionra, Capital 202,500
320 Kaz Zionra, Drawings 45,000
410 Consulting fees 86,750
510 Salary expense 8,000 7

520 Rent expense - 4
530 Supplies expense - 3
540 Depreciation expense - 6
550 Insurance expense - 5
560 Utilities expense - 9
570 Communication expense - 10
580 Advertising expense 1,200
329,250 329,250
420 Interest income
net income
1 on october 10, the proprietor gave you the passbook and it showed a balance of P92,550, the 500 differ
Sep-30 Cash in BDO 500.00

Interest income 500.00
to record interest earned on bank deposits
2 Sep-30 Accounts receivable 43,500.00

Consulting fees revenue 43,500.00
to record billing statements
3 Sep-30 Supplies expense 9,800.00

Supplies 9,800.00
to record supplies expense
4 Sep-30 rent expense 15,000.00

prepaid rent 15,000.00
to record rent expense/ to reduce prepaid rent
5 Sep-30 insurance expense 1,500.00

prepaid insurance 1,500.00
to record insurance expense
6 Sep-30 depreciation expense 1,550.00

accumulated depreciation 1,550.00
to record depreciation expense
7 Sep-30 salary expense 800.00

salaries payable 800.00
to record salaries expense for Sept 29 and 30
8 Sep-30 unearned fees 10,000.00

consulting fees revenue 10,000.00
to record consulting fees earned
9 Sep-30 utilities expense 2,500.00

utilities payable 2,500.00
to record utilities expense
a tool to aid in the preparation of FS
ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT

Debit Credit Debit Credit Debit Credit
500 92,550
43,500 50,500
3 9,800 10,200
4 15,000 30,000
5 1,500 16,500
93,000
6 1,550 1,550
10,000
7 800 800
10,000 20,000
9 2,500 2,500
10 1,500 1,500
202,500
45,000
2 43,500 140,250 - 140,250
8 10,000
800 8,800 8,800
15,000 15,000 15,000 -
9,800 9,800 9,800 -
1,550 1,550 1,550 -
1,500 1,500 1,500
2,500 2,500 2,500 -
1,500 1,500 1,500 -
1,200 1,200 -
- -
1 500 500 - 500
86,650 86,650 379,600 379,600 41,850 140,750
98,900
140,750 140,750
wed a balance of P92,550, the 500 difference is because of interest earned on th savings deposit
93,000
5 years
18,600 annual depreciation

1,550 monthly depreciation
office equipt 93,000

accum depn (1,550)
book value 91,450 amount that is not yet expensed
BALANCE SHEET
Debit Credit
92,550 -
50,500 -
10,200 -
30,000 -
16,500 -
93,000 -
- 1,550
- 10,000
- 800
- 20,000
- 2,500
- 1,500
- 202,500
45,000
337,750 238,850
98,900
337,750 337,750
SIMPLE CONSULTING SIMPLE CONSULTING
(Kaz Zionra, Proprietor) (Kaz Zionra, Proprietor)
INCOME STATEMENT STATEMENT OF CHANGES IN EQUITY
For the month ended September 30, 2020 For the month ended September 30, 2020
2020
REVENUE Kaz Zionra, Equity, beginning
Consulting fees 140,250 Invesment during the period
Interest income 500 Net income for the period
140,750
Withdrawal during the period
EXPENSES Kaz Zionra, Equity, end
Rent 15,000
Supplies 9,800
Salary 8,800
Utilities 2,500
Depreciation 1,550
Insurance 1,500
Communication 1,500
Advertising 1,200
41,850
NET INCOME 98,900

REPORT FORM
SIMPLE CONSULTING SIMPLE CONSULTING
(Kaz Zionra, Proprietor) (Kaz Zionra, Proprietor)
STATEMENT OF FINANCIAL POSITION STATEMENT OF CASH FLOWS
As of September 30, 2020 For the month ended September 30, 2020
- ASSETS CASH FLOWS FROM OPERATING ACTIVITIE

202,500 Current assets
98,900 Cash 92,550
301,400 Accounts receivable 50,500
(45,000) Supplies 10,200
256,400 Prepaid rent 30,000
Prepaid insurance 16,500
199,750
Noncurrent assets
Accumulated depreciation (1,550) CASH FLOWS FROM INVESTING ACTIVITIES
91,450
291,200 CASH FLOWS FROM FINANCING ACTIVITIE
LIABILITIES
Current liabilities
Salaries payable 800 NET INCREASE IN CASH
Unearned fees 20,000
Utilities payable 2,500 CASH BALANCE AT THE BEGINNING
Communications payable 1,500
34,800 CASH BALANCE AT THE END
OWNER'S EQUITY
Kaz Zionra, Equity, end 256,400
291,200
(ACCOUNT FORM)
SIMPLE CONSULTING
(Kaz Zionra, Proprietor)
STATEMENT OF FINANCIAL POSITION
As of September 30, 2020
ASSETS LIABILITIES
Current assets Current liabilities
Cash 92,550
Accounts receivable 50,500
Supplies 10,200
Prepaid rent 30,000
Prepaid insurance 16,500
199,750
Noncurrent assets
Office equipment 93,000 OWNER'S EQUITY
Accumulated depreciation (1,550)
91,450
291,200
SIMPLE CONSULTING
(Kaz Zionra, Proprietor)
STATEMENT OF CASH FLOWS
For the month ended September 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES

Cash receipt from services 124,750
Cash receipt from interest 500
Purchase of supplies (7,500)
Payment of rent (45,000)
Payment of insurance (18,000)
Payment of salaries (8,000)
Payment of advertising (1,200)
Net cash flows from operating activities 45,550
CASH FLOWS FROM INVESTING ACTIVITIES

Acquisition of office equipment (8,000)
CASH FLOWS FROM FINANCING ACTIVITIES

Investment from owner 100,000
Withdrawal of owner (45,000)
Net cash flows from financing activities 55,000
-
NET INCREASE IN CASH 92,550
CASH BALANCE AT THE BEGINNING 0
CASH BALANCE AT THE END 92,550
LIABILITIES
Current liabilities
Salaries payable 800
Unearned fees 20,000
Utilities payable 2,500
Communications payable 1,500
34,800
OWNER'S EQUITY
Kaz Zionra, Equity, end 256,400
291,200
### MON 120
### TUE 120
### WED 120
### THU 120
### FRI 120
### SAT
### SUN
2017 DEC 3MON 120 720
2018 ### TUE 120
### WED 120
### THU 120
### FRI 120 480 PAYDAY
### SAT
### SUN
### MON
### TUE
### WED
### THU
### FRI
OCT 1, 2014 CASH

NOTES PAYABE
JUNE 30, 2015 INTEREST EXPENSE

INTEREST PAYABLE
TO RECORD UNPAID INTEREST AT YEAR-END
PRT 600,000 x 10% x 9/12
OCT 1, 2015 NOTES PAYABLE

INTEREST EXPENSE (JULY 1, 2015-SEPT 30, 2015)
INTEREST PAYABLE (OCT 1, 2014-JUNE 30, 2015)
CASH
TO RECORD PAYMENT OF PRINCIPAL AND INTEREST FOR ONE
JUNE 30, 2016 INTEREST EXPENSE (OCT 1, 2015 - JUNE 30, 2016
INTEREST PAYABLE
TO RECORD UNPAID INTEREST AT YEAR-END
PRT 400,000 x 10% x 9/12
OCT 1, 2016 NOTES PAYABLE

INTEREST EXPENSE (JULY 1, 2016-SEPT 30, 2016)
INTEREST PAYABLE (OCT 1, 2015-JUNE 30, 2016)
CASH
TO RECORD PAYMENT OF PRINCIPAL AND INTEREST FOR ONE
SALARIES PAYABLE SEPT 30

SALARIES PAYABLE OCT 31
SALARIES EXPENSE FOR OCTOBER
CASH PAID FOR SALARIES IN THE MONTH OF OCTOBER
SALARIES EXPENSE FOR OCTOBER

SALARIES FOR OCTOBER NOT YET PAID
SALARIES IN OCTOBER PAID IN OCTOBER
SALARIES IN SEPTEMBER PAID IN OCTOBER
TOTAL CASH PAID FOR SALARIES
Dec-31 SALARIES EXPENSE 720
SALARIES PAYABLE 720
TO RECORD UNPAID SALARIES DEC 24-DEC 31
PRINCIPAL INTEREST total

OCT 1 2015 200,000 60,000 260,000
OCT 1 2016 200,000 40,000 240,000
OCT 1 2017 200,000 20,000 220,000
600,000 Balance sheet

600,000 as of june 30, 2015
notes payable 600,000

45,000 interest payable 45,000
45,000
T AT YEAR-END income statement
for the year ended June 30, 2015 (START
interest expense 45,000
200,000
15,000
45,000
260,000
NCIPAL AND INTEREST FOR ONE YEAR
Balance sheet B4 ADJUSTME ADJUSTMENT ADJUSTED
as of june 30, 2016
30,000
30,000 notes payable 400,000 400,000
T AT YEAR-END interest payable - 30,000 30,000
income statement
for the year ended June 30, 2016 (STARTING JULY 1, 2015 - END JUNE 30, 2016)
200,000
10,000 interest expense 15,000 30,000 45,000
30,000
240,000
NCIPAL AND INTEREST FOR ONE YEAR
OCTOBER SALARIES PAYABLE 3,500.00

CASH 3,500.00
TO RECORD PAYMENT OF SALARIES IN SEPT
3,500.00 SALARIES EXPENSE 15,200.00

2,800.00 CASH 15,200.00
18,000.00 TO RECORD SALARIES IN OCTOBER
SALARIES EXPENSE 2,800.00
SALARIES PAYABLE 2,800.00
NTH OF OCTOBER TO ACCRUE SALARIES IN OCTOBER
18,000.00
(2,800.00)
15,200.00
3,500.00
18,700.00
(PRT) 600,000 x 10% x 12/12
(PRT) 400,000 x 10% x 12/12
(PRT) 200,000 x 10% x 12/12
5 - END JUNE 30, 2016)
ACCRUALS INITIALLY NOT YET RECORDED BUT IT NEEDS TO BE RECORDED AT REPORTING DA
ACCRUED EXPENSES EXPENSES ALREADY INCURRED BUT NOT YET PAID (NO CASH PAID
DATE OF ENTRY ENTRY EXPENSES

END OF REPORTING DATE PAYABLES
TO RECORD ACCRUED EXPENSES
ACCRUED REVENUE INCOME/REVENUE ALREADY EARNED BUT NOT YET RECEIVED (NO
END OF REPORTING DATE ENTRY RECEIVABLES

REVENUE/INCOME
TO RECORD ACCRUED REVENUE
DEFERRALS INITIALLY RECORDED BUT ACCOUNT NEEDS TO BE UPDATED IN SO FAR AS THE B
DEFERRED EXPENSES EXPENSES ALREADY PAID BUT NOT YET INCURRED

BALANCE SHEET METHOD
DATE OF RECOGNITION Sep-01 PREPAID RENT
CASH
TO RECORD RENT FOR SEPT-NOV
DATE OF ADJUSTMENT
END OF REPORTING DATE Sep-30 RENT EXPENSE
PREPAID RENT
TO RECOGNIZE RENT EXPENSE
TO UPDATE PREPAID RENT BALANCE
PREPAID RENT RENT EXPENSE
PER TB (UNADJUSTED) 45,000.00 -

ADJUST (15,000.00) 15,000.00
CORRECT/ADJUSTED AMOUNT 30,000.00 15,000.00
INCOME STATEMENT METHOD

DATE OF RECOGNITION Sep-01 RENT EXPENSE
CASH
TO RECORD RENT FOR SEPT-NOV
DATE OF ADJUSTMENT
END OF REPORTING DATE Sep-30 PREPAID RENT
RENT EXPENSE
TO RECOGNIZE PREPAID RENT
TO UPDATE RENT EXPENSE
PREPAID RENT RENT EXPENSE
PER TB (UNADJUSTED) - 45,000.00

ADJUST 30,000.00 (30,000.00)
DEFERRED INCOME/REVENUE INCOME ALREADY RECEIVED BUT NOT YET EARNED

BALANCE SHEET METHOD
DATE OF RECOGNITION Sep-04 CASH
UNEARNED FEES
TO RECORD UNEARNED FEES
DATE OF ADJUSTMENT
END OF REPORTING DATE Sep-30 UNEARNED FEES
CONSULTING FEES REVENUE
TO RECOGNIZE REVENUE
TO UPDATE UNEARNED FEE/LIABILITY BALAN
UNEARNED FEECONSULTING FEES
PER TB (UNADJUSTED) 30,000.00 -

ADJUST (10,000.00) 10,000.00
INCOME STATEMENT METHOD

DATE OF RECOGNITION Sep-04 CASH
CONSULTING FEES REVENUE
TO RECORD CONSULTING FEE REVENUE FOR
DATE OF ADJUSTMENT
END OF REPORTING DATE Sep-30 CONSULTING FEES REVENUE
UNEARNED FEES
TO RECOGNIZE UNEARNED FEES (LIABILITY)
TO UPDATE CONSULTING FEES REVENUE
UNEARNED FEECONSULTING FEES

PER TB (UNADJUSTED) - 30,000.00
ADJUST 20,000.00 (20,000.00)
CORDED AT REPORTING DATE
OT YET PAID (NO CASH PAID)EXACT AMOUNT /ESTIMATED AMOUNT
interest expense
interest payable
BUT NOT YET RECEIVED (NO CASH RECEIVED)
interest receivable
interest income
DATED IN SO FAR AS THE BALANCE IS CONCERN AT REPORTING DATE
T INCURRED
45,000.00
45,000.00
FOR SEPT-NOV RECORDED IN CDJ
15,000.00
15,000.00
NT EXPENSE RECORDED IN GJ
AID RENT BALANCE
45,000.00
45,000.00
FOR SEPT-NOV RECORDED IN CDJ
30,000.00
30,000.00
REPAID RENT RECORDED IN GJ
YET EARNED
30,000.00
30,000.00
RECORDED IN CRJ
10,000.00
10,000.00
RECORDED IN GJ
RNED FEE/LIABILITY BALANCE
30,000.00
30,000.00
ULTING FEE REVENUE FOR SEPT-NOV RECORDED IN CRJ
20,000.00
20,000.00
NEARNED FEES (LIABILITY) RECORDED IN GJ
ULTING FEES REVENUE
Cash 1,000,000.00
Notes payable
Interest expense 10,000.00

Interest payable
may investment/notes receivable 100,000.00
1,000,000.00 cash in bank
dec interest receivalbe 300.00

10,000.00 interest income
mature
may next year cash 100,300.00
interest receivable
investment/notes receivable
vince
1/4/2020 100,000.00
6/30/2020 200.00
100,000.00 100,200.00
300.00 end of reporting
300.00
100,000.00

Steps in The Manual Accounting Process (Accounting Cycle)

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Steps in The Manual Accounting Process (Accounting Cycle)

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STEPS IN THE MANUAL ACCOUNTING PROCESS (ACCOUNTING CYCLE)

source documents journals ledger

CIB-BDO Consulting Fees Accts. Receivable

124,750.00 (86,750.00) (8,000.00)

unearned fees 30,000

(132,700) 7,500 45,000 18,000 -

8,000 45,000 8,000 - 1,200

Date Particulars PR Debit Credit

Cash in BDO 100,000

5 Office equipment 18,000

Sept 30 Cash in BDO 500

Accounts receivable 43,500

Supplies expense 9,800

rent expense 15,000

insurance expense 1,500

depreciation expense 1,550

salary expense 800

unearned fees 10,000

utilities expense 2,500

Consulting fees 140,250

Income summary account 41,850

Income summary 98,900

Kaz Zaionra, capital 45,000

income summary CONSULTING FEES

41,850 140,750 140,750 140,750

INCOME SUMMARY HAS A CREDIT BALANCE, THERE IS PROFIT

ACCUMULATE DEPRECIATION -OFFICE EQUIPMENT

120 SALARIES PAYABLE

140 UNEARNED FEES

150 UTILITIES PAYABLE

160 COMMUNICATIONS PAYABLE

190 Kaz Zionra, DRAWINGS

Date Particulars PR Debit Date

220 SALARY EXPENSE

230 RENT EXPENSE

240 SUPPLIES EXPENSE

250 DEPRECIATION EXPENSE

320 UTILITIES EXPENSE

SALARY EXPENSE 510

RENT EXPENSE 520 Office rental

DEPRECIATION EXPENSE 540

UTILITIES EXPENSE 560

COMMUNICATIONS EXPENSE 570

ADVERTISING EXPENSE 580

INTEREST INCOME 580

500.00 SEPT 30 GJ - ADJUSTING ENTRY 500.00

510 Salary expense 8,000 7

Sep-30 Cash in BDO 500.00

2 Sep-30 Accounts receivable 43,500.00

3 Sep-30 Supplies expense 9,800.00

4 Sep-30 rent expense 15,000.00

5 Sep-30 insurance expense 1,500.00

6 Sep-30 depreciation expense 1,550.00

7 Sep-30 salary expense 800.00

8 Sep-30 unearned fees 10,000.00

9 Sep-30 utilities expense 2,500.00

ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT

18,600 annual depreciation

office equipt 93,000

NET INCOME 98,900

- ASSETS CASH FLOWS FROM OPERATING ACTIVITIE

291,200 CASH FLOWS FROM FINANCING ACTIVITIE