UNADJUSTED TRIAL BALANCE ADJUSTMENT

ACCOUNT TITLE
Debit Credit Debit Credit

Cash 81,180.00
Accounts Receivable 25,650
Prepaid Insurance 3,600 1,800
Shop Supplies 16,400 9,540
Equipment 84,000
Accumulated Depreciation 8,400 8,400
Accounts Payable 32,640
Loans Payable 50,000
Ramon Marcos, Capital 77,000
Ramon Marcos, Withdrawal 36,000
Service Income 191,940 7,500
Salaries Expense 64,500
Rent Expense 28,000 4,000
Utilities Expense 13,150
MIscelleneous Expense 7,500
ADJUSTMENT:
Insurance Expense 1,800
Prepaid Rent 4,000
Interest Expense 4,500
Accrued Interest Expense 4,500
Advertising Expense 1,800
Accrued Advertising Expense 1,800
Unearned Service Income 7,500
Supplies Expense 9,540
Depreciation Expense 8,400
TOTAL P 359,980 P 359,980 37,540 37,540
ADJUSTED TRIAL BALANCE INCOME STATEMENT STATEMENT OF CHANGES IN EQUITY
Debit Credit Debit Credit Debit

81,180
25,650
1,800
6,860
84,000
16,800
32,640
50,000
77,000
36,000 -36,000
184,440 184,440
64,500 64,500
24,000 24,000
13,150 13,150
7,500 7,500

1,800 1,800
4,000
4,500 4,500
4,500
1,800 1,800
1,800
7,500
9,540 9,540
8,400 8,400 184,440
135,190 135,190
49,250 49,250
EMENT OF CHANGES IN EQUITY STATEMENT OF FINANCIAL POSITION
Credit Debit Credit

81,180
25,650
1,800
6,860
84,000
-16,800
32,640
50,000
77,000

4,500

1,800
7,500

90,250 90,250
186,690 186,690
 RM REPAIR SHOP
ADJUSTING ENTRIES
DECEMBER 31,2017
DATE DESCRIPTION DEBIT CREDIT
31 Insurance Expense 1,800
Prepaid Insurance 1,800

31 Prepaid Rent 4,000

Rent Expense 4,000

31 Interest Expense 4,500

Accrued Interest Expense 4,500

31 Advertising Expense 1,800

Accrued Advertising Expense 1,800

31 Service Income 7,500

Unearned Service Income 7,500

31 Supplies Expense 9,540

Office Supplies 9,540

31 Depreciation Expense 8,400

Accumulated Depreciation 8,400
 RM REPAIR SHOP
STATEMENT OF CHANGES IN EQUITY
DECEMBER 31,2017

Ramon Marcos, Beg. Capital 57,000

Add: Investment 20,000
Net Profit 49,250
Total 126,250
Less: Ramon Marcos, Withdrawals 36,000
CAPITAL ENDING 90,250
 RM REPAIR SHOP
STATEMENT IN FINANCIAL POSITION
DECEMBER 31,2017

ASSETS LIABILITY
Cash 81,180 Accounts Payable 32,640
Accounts Receivable 25,650 Accrued Advertising Expense 1,800
Prepaid Insurance 1,800 Accrued Interest Income 4,500
Prepaid Rent 4,000 Unearned Service Income 7,500
Shop Supplies 6,860 Loan Payable 50,000
Equipment 84,000 Owner's Equity:
Accumulated Dep. -16,800 Ramon Marcos, Capital 90,250
TOTAL 186,690 186,690