Dr. Nick Marasigan, M.D.

General Ledger
For the month ended October 31, 2021

Date Particulars PR Debit Credit

Oct 1 Cash 110 ₱ 250,000
Marasigan, Capital 310 ₱ 250,000

1 Medical Building 160 ₱ 1,000,000

Land 150 ₱ 250,000
Cash 110 ₱ 50,000
20% Notes Payable 220 ₱ 1,200,000

1 Medical Equipment 170 ₱ 420,000

Medical Supplies 130 ₱ 39,000
Cash 110 ₱ 59,000
24% Notes Payable 210 ₱ 400,000

2 Insurance Expense 520 ₱ 20,000

Cash 110 ₱ 20,000

4 Cash 110 ₱ 117,000

Medical Revenues 410 ₱ 117,000

7 Medical Supplies 130 ₱ 17,000

Accounts Payable 230 ₱ 17,000

10 Salaries Expense 510 ₱ 73,000

Cash 110 ₱ 73,000

12 Cash 110 ₱ 90,000

Unearned Research Revenues 260 ₱ 90,000

18 Accounts Receivable 120 ₱ 317,000

Medical Revenues 410 ₱ 317,000

21 Repairs Expense 530 ₱ 23,000

Cash 110 ₱ 23,000

23 Telephone Expense 560 ₱ 3,000

Cash 110 ₱ 3,000

24 Medical Equipment 170 ₱ 45,000

 Cash 110 ₱ 45,000

25 Cash 110 ₱ 113,000

Accounts Receivable 120 ₱ 113,000

27 Accounts Payable 230 ₱ 13,000

Cash 110 ₱ 13,000

30 Marasigan, Withdrawals 320 ₱ 200,000

Cash 110 ₱ 200,000

30 Association Dues Expense 550 ₱ 15,000

Cash 110 ₱ 15,000
 Cash Marasigan, Capital Medical Building
₱ 250,000 ₱ 50,000 ₱ 250,000 ₱ 1,000,000
₱ 117,000 ₱ 59,000
₱ 90,000 ₱ 20,000
₱ 113,000 ₱ 73,000
₱ 23,000
₱ 3,000
₱ 45,000
₱ 13,000
₱ 200,000
₱ 15,000
₱ 570,000 ₱ 501,000
₱ 69,000

Medical Equipment Medical Supplies 24% Notes Payable

₱ 420,000 ₱ 39,000
₱ 45,000 ₱ 17,000
₱ 465,000 ₱ 56,000

Accounts Payable Salaries Expense Unearned Research Revenu

₱ 13,000 ₱ 17,000 ₱ 73,000
₱ 4,000

Telephone Expense Marasigan, Withdrawals Association Dues Expense

₱ 3,000 ₱ 200,000 ₱ 15,000
Medical Building Land 20% Notes Payable
₱ 250,000 ₱ 1,200,000

24% Notes Payable Insurance Expense Medical Revenues

₱ 400,000 ₱ 20,000 ₱ 117,000
₱ 317,000
₱ 434,000

rned Research Revenues Accounts Receivable Repairs Expense

₱ 90,000 ₱ 317,000 ₱ 113,000 ₱ 23,000
₱ 204,000

ociation Dues Expense

 Unadjusted Trial Balance Adjustments
Particulars Debit Credit Debit
Cash ₱ 69,000
Marasigan, Capital ₱ 250,000
Medical Building ₱ 1,000,000
Land ₱ 250,000
20% Notes Payable ₱ 1,200,000
Medical Equipment ₱ 465,000
Medical Supplies ₱ 56,000
24% Notes Payable ₱ 400,000
Insurance Expense ₱ 20,000 ₱ 1,667
Medical Revenues ₱ 434,000
Accounts Payable ₱ 4,000
Salaries Expense ₱ 73,000 ₱ 51,000
Unearned Research Revenues ₱ 90,000 ₱ 30,000
Accounts Receivable ₱ 204,000
Repairs Expense ₱ 23,000
Telephone Expense ₱ 3,000
Marasigan, Withdrawals ₱ 200,000
Association Dues Expense ₱ 15,000
Total ₱ 2,378,000 ₱ 2,378,000
Prepaid Insurance
Medical Supplies Expense ₱ 35,000
Depreciation Expense - Building ₱ 5,000
Accumulated Depreciation - Building
Depreciation Expense - Equipment ₱ 9,000
Accumulated Depreciation - Equipment
Research Revenues
Accrued Expense
Interest Expense ₱ 28,000
Interest Payable
Total ₱ 159,667
Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Credit Debit Credit Debit Credit Debit
₱ 69,000 ₱ 69,000
₱ 250,000
₱ 1,000,000 ₱ 1,000,000
₱ 250,000 ₱ 250,000
₱ 1,200,000
₱ 465,000 ₱ 465,000
₱ 35,000 ₱ 21,000 ₱ 21,000
₱ 400,000
₱ 21,667 ₱ 21,667
₱ 434,000 ₱ 434,000
₱ 4,000
₱ 124,000 ₱ 124,000
₱ 60,000 ₱ 60,000
₱ 204,000 ₱ 204,000
₱ 23,000 ₱ 23,000
₱ 3,000 ₱ 3,000
₱ 200,000 ₱ 200,000
₱ 15,000 ₱ 15,000

₱ 1,667 ₱ 1,667
₱ 35,000 ₱ 35,000
₱ 5,000 ₱ 5,000
₱ 5,000 ₱ 5,000
₱ 9,000 ₱ 9,000
₱ 9,000 ₱ 9,000
₱ 30,000 ₱ 30,000 ₱ 30,000
₱ 51,000 ₱ 51,000
₱ 28,000 ₱ 28,000
₱ 28,000 ₱ 28,000
₱ 159,667 ₱ 2,472,667 ₱ 2,472,667 ₱ 263,667 ₱ 524,000 ₱ 2,209,000
₱ 260,333
₱ 524,000 ₱ 524,000 ₱ 2,209,000
Balance Sheet
Credit

₱ 250,000

₱ 1,200,000

₱ 400,000

₱ 4,000

₱ 1,667

₱ 5,000

₱ 9,000

₱ 51,000

₱ 28,000
₱ 1,948,667
₱ 260,333
₱ 2,209,000
 Dr. Nick Marasigan, M.D.
Statement of Comprehensive Income
For the month ended October 31, 2021

Revenues
Medical Revenues ₱ 434,000
Unearned Research Revenues ₱ 60,000
Research Revenues ₱ 30,000
Total ₱ 524,000
Expenses
Insurance Expense ₱ 21,667
Salaries Expense ₱ 124,000
Repairs Expense ₱ 23,000
Telephone Expense ₱ 3,000
Association Dues Expense ₱ 15,000
Medical Supplies Expense ₱ 35,000
Depreciation Expense - Building ₱ 5,000
Depreciation Expense - Equipment ₱ 9,000
Interest Expense ₱ 28,000
Total ₱ 263,667
Profit ₱ 260,333
 Dr. Nick Marasigan, M.D.
Statement of Changes in Equity
For the month ended October 31, 2021

Marasigan, Capital ₱ 250,000

Add: -- ₱ -
Total ₱ 250,000
Less: Marasigan, Withdrawals ₱ 200,000
Total ₱ 50,000
 Dr. Nick Marasigan, M.D.
Statement of Financial Position
For the month ended October 31, 2021

ASSETS
Current Assets
Cash ₱ 69,000
Accounts Receivable ₱ 204,000
Medical Supplies ₱ 21,000
Prepaid Insurance ₱ 1,667
Total Current Assets ₱ 295,667
Noncurrent Assets
Medical Building ₱ 1,000,000
Land ₱ 250,000
Medical Equipment ₱ 465,000
Total Noncurrent Assets ₱ 1,715,000
Less: Accumulated Depreciation - Building ₱ 5,000
Accumulated Depreciation - Equipment ₱ 9,000
Total Assets ₱ 1,996,667

LIABILITIES
Current Liabilities
20% Notes Payable ₱ 1,200,000
24% Notes Payable ₱ 400,000
Accounts Payable ₱ 4,000
Accrued Expense ₱ 51,000
Interest Payable ₱ 28,000
Total Current Liabilities ₱ 1,683,000

OWNER'S EQUITY
Marasigan, Capital ₱ 250,000
Total Liabilities & Owner's Equity ₱ 1,933,000
Cash ₱ 69,000
Accounts Receivable ₱ 204,000
Medical Supplies ₱ 21,000
Prepaid Insurance ₱ 1,667
Medical Building ₱ 1,000,000
Land ₱ 250,000
Medical Equipment ₱ 465,000
Accumulated Depreciation - Building ₱ 5,000
Accumulated Depreciation - Equipment ₱ 9,000
20% Notes Payable ₱ 1,200,000
24% Notes Payable ₱ 400,000
Accounts Payable ₱ 4,000
Accrued Expense ₱ 51,000
Interest Payable ₱ 28,000
Unearned Research Revenues ₱ 60,000
Marasigan, Capital ₱ 250,000
₱ 2,010,667 ₱ 2,007,000
₱ 1,834
2021
Oct 31 Medical Revenues 410 ₱ 434,000
Unearned Research Revenues 260 ₱ 60,000
Research Revenues 420 ₱ 30,000
Income Summary 330 ₱ 524,000

2021
Oct 31 Income Summary 330 ₱ 263,667
Insurance Expense 520 ₱ 21,667
Salaries Expense 510 ₱ 124,000
Repairs Expense 530 ₱ 23,000
Telephone Expense 560 ₱ 3,000
Association Dues Expense 550 ₱ 15,000
Medical Supplies Expense 130 ₱ 35,000
Depreciation Expense - Building 570 ₱ 5,000
Depreciation Expense - Equipment 580 ₱ 9,000
Interest Expense 590 ₱ 28,000

2021
Oct 31 Income Summary 590 ₱ 260,333
Marasigan, Capital ₱ 260,333

2021 Marasigan, Capital 310 ₱ 200,000

Oct 31 Marasigan, Withdrawals 320 ₱ 200,000