Professional Documents
Culture Documents
FAR Practice Set
FAR Practice Set
Date Particulars
20xx
April 2 Accounts Payable
Cash
3 Office Supplies
Cash
7 Cash
Unearned Professional Fees
Professional Fees
14 Cash
Internet and Other Fees
20 Accounts Receivable
Professional Fees
27 Cash
Accounts Receivable
27 Cash
Unearned Professional Fees
28 Cash
Internet and Other Fees
28 Expense - Communication, Light and Water
Cash
30 Cash
Unearned Professional Fees
101
Unearned Professional Fees 205
Professional Fees 401
To record complete payment of FinestGold Pawnshop for computer program.
101
Internet and Other Fees 402
To record internet and other services.
101
Accounts Receivable 102
To record collection from Tiffany Clothing Corporation.
101
Unearned Professional Fees 205
To record advance payment for computer repair and system installation.
101
Internet and Other Fees 402
To record internet and other services.
Expense - Communication, Light and Water 505
Cash 101
To record bills for the month.
101
Unearned Professional Fees 205
To record advance payment of GreenDollar for computer system
22,000.00
22,000.00
1,000.00
1,000.00
1,000.00
1,000.00
15,000.00
15,000.00
30,000.00
12,500.00
12,500.00
1,500.00
1,500.00
20,000.00
20,000.00
20,000.00
20,000.00
21,000.00
21,000.00
14,500.00
14,500.00
6,120.00
6,120.00
15,000.00
15,000.00
3,000.00
5,000.00
8,000.00
12,116.00
1,144.00
1,830.00
11,430.00
20,000.00
20,000.00
12,000.00
12,000.00
6,000.00
6,000.00
500.00
500.00
1,500.00
1,500.00
750.00
750.00
200.00
200.00
2,670.00
2,670.00
23,620.00 23,620.00
CASH
22,000.00 22,000.00
1,000.00 23,000.00
1,000.00 24,000.00
9,000.00
3,500.00
1,500.00 2,000.00
22,000.00
43,000.00
57,500.00
6,120.00 51,380.00
15,000.00 36,380.00
8,000.00 28,380.00
11,430.00 16,950.00
36,950.00
20,000.00
20,000.00 -
200.00
1,000.00
750.00 250.00 500
6,000.00
500.00
1,830.00 1,830.00
1,500.00
2,670.00 1,170.00
15,000.00
21,000.00 6,000.00
20,000.00 26,000.00
380,000.00 380,000.00
50,000.00 430,000.00
415,000.00
15,000.00
15,000.00 0.00
89,000.00 89,000.00
50,000.00
0.00
30,000.00 30,000.00
20,000.00 50,000.00
12,000.00 62,000.00
0.00
12,500.00 12,500.00
14,500.00 27,000.00
0.00
12,116.00
13,260.00
13,260.00 0.00
3,000.00
4,500.00
4,500.00 0.00
UIPMENTS Account No. 503
Balance
Credit Debit Credit
6,000.00
6,000.00 0.00
5,000.00
5,000.00 0.00
6,120.00
6,120.00 0.00
500.00
500.00 0.00
200.00
200.00 0.00
750.00
750.00 0.00
Account No. 509
Balance
Credit Debit Credit
2,670.00
2,670.00 0.00
Particulars PR Debit
20xx
April 30 Professional Fees 401 62,000.00
Internet and other Fees 402 27,000.00
Income and Expense Summary
To close income accounts
89,000.00
13,260.00
4,500.00
6,000.00
5,000.00
6,120.00
500.00
200.00
750.00
2,670.00
50,000.00
15,000.00
CASH RECEIPTS BOOK
Official Receipt
Date Particulars
No.
20xx
April 7 Received full payment from FinestGold Pawnshop
14 Internet and Other Fees
27 Collection from Tiffany Clothing Corporation
27 Advance payment for repair and system installation
28 Internet and Other Fees
30 Advance payment from Green Dollar
Collection from Advances from
Cash Revenue Owner's Equity TOTAL
Customers Customers
15,000.00 15,000.00
12,500.00 12,500.00
20,000.00 20,000.00
21,000.00 21,000.00
14,500.00 14,500.00
20,000.00 20,000.00
Operating
Date Particulars Check No.
Expenditures
20xx
April 2 1 air-condition unit
2 Printing materials and supplies 1,000.00
3 Office Supplies 1,000.00
17 Percentage tax 1,500.00
28 Telephone, electricity & water 6,120.00
28 Drawing, G.G. Gabriel
30 Internet/wi-fi & rent 8,000.00
30 Salary 11,430.00
29,050.00
Purchase of Non-
Withdrawals Others TOTAL
current Assets
22,000.00 22,000.00
1,000.00
1,000.00
1,500.00
6,120.00
15,000.00 15,000.00
8,000.00
11,430.00
50,000.00
200.00 6 2,000.00
1,500.00 4 500.00
750.00 5 750.00
252,000.00
6,000.00 2 12,000.00
42,000.00
500.00 3 1,000.00
0.00
1,830.00
2,670.00 7 2,670.00
12,000.00 29,000.00
380,000.00
15,000.00
50,000.00
2,000.00
500.00
750.00
252,000.00
12,000.00
42,000.00
1,000.00
0.00
1,830.00
2,670.00
29,000.00
380,000.00
15,000.00
476,500.00 426,500.00
50,000.00
476,500.00 476,500.00
COMPUTER.SYSTEMS.NET
Statement of Income
For the Month Ended April 30, 20xx
Service Revenue
Professional Fees P 62,000.00
Internet and Other Fees 27,000.00 P 89,000.00
COMPUTER.SYSTEMS.NET
Statement of Financial Position
As at April 30. 20xx
ASSETS
Current Assets
Cash P 114,250.00
Accounts Receivable -
Deposit for Rent 50,000.00
Prepaid Insurance 2,000.00
Printing Materials and Supplies 500.00
Office Supplies 750.00 P
Noncurrent Assets
Computer Equipments P 252,000.00
Less: Accum. Depr, - Furnitures and Fixtures 12,000.00 240,000.00
Furnitures and Fixtures 42,000.00
Less: Accum. Depr. - Furnitures and Fixtures 1,000.00 41,000.00
Total Assets P
Current Liabilites
Accounts Payable P -
SSS/PHILHEALTH/HDMF Premium Payable 1,830.00
Withholding Tax Payable -
Percentage Tax Payable 2,670.00
Unearned Professional Fees 29,000.00 P 33,500.00
Noncurrent Liability - P
Less: Drawing
Owner's Equity, end
COMPUTER.SYS
Statement of Ca
For the Month Ended
Cash, end
167,500.00
281,000.00
448,500.00
33,500.00
415,000.00
448,500.00
R.SYSTEMS.NET
Changes in Equity
Ended April 30. 20xx
P 380,000.00
50,000.00
430,000.00
15,000.00
P 415,000.00
COMPUTER.SYSTEMS.NET
Statement of Cash Flows
For the Month Ended April 30, 20xx
P 103,000.00
(20,430.00)
(8,620.00)
- P 73,950.00
-
-22,000.00 -22,000
-
(15,000.00) (15,000.00)
36,950.00
77,300.00
P 114,250.00
COMPUTER.SYSTEM.NET
Trial Balance
April 30,20xx