GENERAL JOURNAL

Description
Date
2019
April
30

30

30

30
 30

30

30

30

GENERAL LEDGER
Account: Doubtful accounts

Date

2019
April
30
 GENERAL LEDGER
Account: Allowance for doubtful accounts

Date

2019
April
30
30

GENERAL LEDGER
Account: Supplies expense

Date

2019
April
30

GENERAL LEDGER
Account: Unused supplies

Date

2019
April
30
30

GENERAL LEDGER
Account: Depreciation expense-office equipment

Date

2019
April
30
 GENERAL LEDGER
Account: Accumulated Depreciation - office equipment

Date

2019
April
30
30

GENERAL LEDGER
Account: Interest expense

Date

2019
April
30

GENERAL LEDGER
Account: Interest payable

Date

2019
April
30
 Unadjusted trial balance
APRIL 30,2019
DEBIT
ACC. NUMER BALANCE
Cash 25,000
Accounts receivable 185,000
Inventory 12,000
Allowance for doubtful accounts
Unused supplies 2,000
Office equipment 60,000
Accumulated Depreciation - office equipment
Accounts payable
Notes payable
My, Capital
My, Drawing 5,000
Sales
Sales returns 10,000
Sales discounts 2,500
Purchases 250,000
Purchase returns
Purchase discounts
Freight-in 5,000
Freight-out 10,000
566,500

Unadjusted Trial Balance

Accounts Debit
Cash 25,000
Accounts receivable 185,000
Inventory 12,000
Allowance for doubtful accounts
Unused supplies 2,000
Office equipment 60,000
Accumulated Depreciation - office equipment
Accounts payable
Notes payable
My, Capital
My, Drawing 5,000
Sales
Sales returns 10,000
Sales discounts 2,500
Purchases 250,000
Purchase returns
Purchase discounts
Freight-in 5,000
Freight-out 10,000
Total 566,500
Doubtful account expense
Supplies expense
Depreciation expense-office equipment
Interest expense
Interest payable

GENERAL JOURNAL
Description Debit
Adjusting entries

Doubtful account expense 1,350

Allowance for doubtful accounts

Supplies expense 1,800

Unused supplies

Depreciation expense-office equipment 12,000

Accumulated Depreciation - office equipment

Interest expense 1,600

Interest payable
 Closing entries
Inventory(ending Inventory) 20,000
Sales 300,000
Purchase returns 20,000
Purchase discounts 5,000
Income summary
To record ending inventory and close accounts with credit balance

Income summary 306,250

Inventory(Beginning Inventory)
Sales returns
Sales Discount
Purchase
Doubtful account expense
Supplies expense
Depreciation expense-office equipment
Interest expense
Freight-in
Freight-out
To close Beginning Inventory and other income statement account with debit balance

Income summary 38,750

Owner's Capital
To transfer net income to capital

Owners Capital 5,000

Owner's Drawing
To close drawing to capital

GENERAL LEDGER
Doubtful accounts

Description P.R.

Adjusting entries
 GENERAL LEDGER
Allowance for doubtful accounts

Description P.R.

Adjusting entries

GENERAL LEDGER
Supplies expense

Description P.R.

Adjusting entries

GENERAL LEDGER
Unused supplies

Description P.R.

Adjusting entries

GENERAL LEDGER
Depreciation expense-office equipment

Description P.R.

Adjusting entries
 GENERAL LEDGER
Accumulated Depreciation - office equipment

Description P.R.

Adjusting entries

GENERAL LEDGER
Interest expense

Description P.R.

Adjusting entries

GENERAL LEDGER
Interest payable

Description P.R.

Adjusting entries

Adjusted trial Balance

APRIL 30,2019
DEBIT
ACC. NUMER BALANCE
Cash 25,000
Accounts receivable 185,000
Inventory 12,000
Allowance for doubtful accounts
Unused supplies 200
Office equipment 60,000
Accumulated Depreciation - office equipment
Accounts payable
Notes payable
My, Capital
My, Drawing 5,000
Sales
Sales returns 10,000
Sales discounts 2,500
Purchases 250,000
Purchase returns
Purchase discounts
Freight-in 5,000
Freight-out 10,000
Doubtful account expense 1,350
Supplies expense 1,800
Depreciation expense-office equipment 12,000
Interest expense 1,600
Interest payable
581,450

Income Statement
for the month ended April 30,2019

Credit Coloumn
Ending Inventory ₱20,000
Purchase returns 20,000
Purchase discounts 5,000
Total credit ₱45,000

Debit coloumn
Beginning inventory ₱12,000
Purchases 250,000
Freight-in 5,000
Total debits ₱267,000
Less: Total Credits ₱45,000
Cost of goods sold ₱222,000

Balance sheet
As of April 30,2019
 ASSETS
Cash 25,000
Accounts receivable 185,000
Inventory 20,000
Allowance for doubtful accounts (1,850)
Unused supplies 200
Office equipment 60,000
Accumulated Depreciation - office equipment (21,000)
TOTAL ASSETS ₱267,350

Liabilities
Accounts payable 52,000
Notes payable 80,000
Interest payable 1,600
TOTAL LIABILITIES ₱133,600

Equity
Owners Capital 133,750
TOTAL EQUITY ₱133,750

TOTAL LIABILITIES AND EQUITY ₱267,350

 CREDIT
BALANCE

500

9,000
52,000
80,000
100,000

300,000

20,000
5,000

566,500

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement

Credit Debit Credit Debit Credit Debit Credit
25,000
185,000
12,000 12,000 20,000
500 (a) 1,350 1,850
(b) 1,800 200
60,000
 9,000 (c) 12,000 21,000
52,000 52,000
80,000 80,000
100,000 100,000
5,000
300,000 300,000 300,000
10,000 10,000
2,500 2,500
250,000 250,000
20,000 20,000 20,000
5,000 5,000 5,000
5,000 5,000
10,000 10,000
566,500
(a) 1,350 1,350 1,350
(b) 1,800 1,800 1,800
(c) 12,000 12,000 12,000
(d) 1,600 1,600 1,600
(d) 1,600 1,600
16,750 16,750 581,450 581,450 306,250 345,000
38,750

Credit

1,350

1,800

12,000

1,600
345,000

12,000
10,000
2,500
250,000
1,350
1,800
12,000
1,600
5,000
10,000

38,750

5,000

Account Nr.
Balance
Debit Credit
Debit Credit

1,350 1,350
 Account Nr.
Balance
Debit Credit
Debit Credit

500 500
1350 1850

Account Nr.
Balance
Debit Credit
Debit Credit

1,800 1,800

Account Nr.
Balance
Debit Credit
Debit Credit

2,000 2,000
1,800 200

Account Nr.
Balance
Debit Credit
Debit Credit

12,000 12,000
 Account Nr.
Balance
Debit Credit
Debit Credit

9,000 9,000
12,000 21,000

Account Nr.
Balance
Debit Credit
Debit Credit

1,600 1,600

Account Nr.
Balance
Debit Credit
Debit Credit

1,600 1,600

CREDIT
BALANCE

1,850

21,000
52,000
 80,000
100,000

300,000

20,000
5,000

1,600
581,450
 Balance Sheet Closing entries Post-closing entries
Debit Credit Debit Credit Debit Credit
25,000 25,000
185,000 185,000
20,000 20,000 12,000 20,000
1,850 1,850
200 200
60,000 60,000
 21,000 21,000
52,000 52,000
80,000 80,000
100,000 5,000 38,750 133,750
5,000 5,000
300,000
10,000
2,500
250,000
20,000
5,000
5,000
10,000

1,350
1,800
12,000
1,600
1,600 1,600
295,200 256,450 350,000 350,000 290,200 290,200
38,750
 GENERAL JOURNAL
Description Debit Credit
Adjusting entries
Doubtful account expense 1,350
Allowance for doubtful accounts 1,350

Supplies expense 1,800

Unused supplies 1,800

Depreciation expense-office equipment 13,000

Accumulated Depreciation - office equipment 13,000

Interest expense 1,600

Interest payable 1,600