Activity 16

1. Credit
2. Balance Sheet
3. Accumulated Depreciation
4. Cross-footing
5. Footing
6. Income statement
7. Credit Column and Income Statement
8. Statement of Financial Position
9. Income Statement
10. Adjusted Trial Balance
11. Credit Column and Balance Sheet
12. Net loss
13. Statement of Financial Position
14. Balance Sheet and Income Statement
15.

Activity 17

Debit Credit

Office Supplies – Balance Sheet Unearned Revenues – BS

Land – BS Notes Payable – BS
Accounts Receivable – BS Interest Revenues – IS
Rent Expense - Income Statement Accounts Payable – BS
Interest Expense - IS
Equipment – BS Accumulated Depreciation – BS
Prepaid Insurance – BS Salaries Payable – BS
Advances of Employees – BS
Withdrawals – BS SSS/PHIC/HDMF Payable – BS
Repairs and Maintenance – IS Service Revenues – IS
Salaries and Wages – IS Interest Payable – BS

Activity 18

Dr. Ngephon
Income Statement
September 30, 2019
Revenue:
Dental Fees P 1,580,000
Less: Operating Expenses
Professional Development and Training P 85,000
Miscellaneous Expense 5,000
 Clinic Supplies Expense 220,300
Rent Expense 120,000
Salaries Expense 96,000
Light and Water Expense 77,000
Depreciation Expense 12,000 615,300
Operating Income 964,700
Less: Interest Expense 0
Net Income P 964,700

Dr. Ngephon
Statement of Changes in Equity
September 30, 2019
Dr. Ngephon Capital P 260,000
Beginning
Add: Investment P 15,000
Net Income 964,700 979,700
Total 1,230,700
Less: Withdrawals (350,000)
Dr. Ngephon Capital 889,700
Ending

Activity 19

1. What could be the reason why her capital has increased from P250,000 to P445,310?

Because her beginning capital (250,000) was being added to her net income (245,310) and the
total of it (495,310) was deducted to withdrawals (50,000), and the result of this is her ending
capital which is 445,310

2. If her withdrawal is equal to the income that she earned, what could be her capital balance end?

Her beginning balance and ending capital balance would still be the same, and since there’s no
additional investment, nothing changes.

2. What could have been her ending capital balance, if she withdrew P250,000 only?

It would be 245,310, which means her withdrawal would be a reason of not increasing of her
capital balance
Activity 20.

1. Advertising Expense 140,000

Prepaid Advertising 140,000

2. Engr Supplies Expense 180,000

Engr Supplies 180,000

3. Depreciation Expense 160,000

Accumulated Depreciation 160,000

4. Unearned Revenues 40,000

Survey Revenues 40,000

5. Salaries Expense 140,000

Salaries Payable 140,000

6. Interest Expense 60,000

Interest Payable 60,000

Activity 21

1.Office Supplies Expense 42,000

Office Supplies 42,000

2.Unearned Revenue 112,500

Service Revenue 112,500

3.Depreciation Expense 38,000

Accumulated Depreciation – Building 38,000

Depreciation Expense 123,000

Accumulated Depreciation – Equipment 123,000

4.Salaries Expense 14,000

Salaries Payable 14,000

5. Interest Receivable 24,000

Interest Income 24,000

6.Doubtful Account Expense 7,800

Allowance for Doubtful Account 7,800