ISAAC, ALIAH GWYNETH

BSA 1ST-A
AIR COOL & CLEAN SERVICES
Adjusted Journal Entries
For the month ended December 31, 2022

DATE PARTICULARS P.R. DEBIT CREDIT

Dec. 2022
31 Direct charges- depreciation- Tools and Equipment 505 P 400
Accumulated depreciation- Tools and Equipment 107 P 400
To record depreciation of tools & equipment
#
31 Prepaid Insurance 105 8,000
Direct charges- Insurance 504 8,000
To adjust 2 months of insurance not yet incurred
#
31 Direct charges- Supplies 104 21,000
Supplies 503 21,000
To adjust 1 month of supplies already used
#
31 Interest expense 509 1,000
Interest payable 202 1,000
To accrue interest for 25 days to Unionbank
#
TOTAL P 30,400 P 30,400
 AIR COOL & CLEAN SERVICES
Posting adjusted entries
For the month ended December 31, 2022

Supplies Acc. No. 104

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 04 purchase supplies on account GJ1 10,000 10,000
Dec. 23 purchase supplies on account GJ1 15,000 25,000
Dec. 31 adjusted 1 month of supplies already used GJ5 21,000 4,000

Prepaid Insurance Acc. No. 105

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 adjusted 2 months of insurance not yet incurred GJ5 8,000 8,000

Accumulated depreciation- Tool & Equipment Acc. No. 107

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 depreciation of tools and equipment GJ5 400 400

Interest payable Acc. No. 202

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 accrue interest for 25 days to Unionbank GJ5 1,000 1,000

Direct charges- Supplies Acc. No. 503

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 adjusted 1 month of supplies already used GJ5 21,000 21,000
Direct charges- Insurance Acc. No. 504
DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 3 availment of 3-month insurance policy GJ1 12,000 12,000
Dec. 31 adjusted 2 months of insurance not yet incurred GJ5 8,000 4,000

Direct charges- depreciation- Tools & Equipment Acc. No. 505

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 depreciation of tools and equipment GJ5 400 400

Interest expense Acc. No. 509

DATE PARTICULARS P.R. DEBIT CREDIT BALANCE
2022
Dec. 31 accrue interest for 25 days to Unionbank GJ5 1,000 1,000
 AIR COOL & CLEAN SERVICES
Adjusted Trial Balance
For the month ended December 31, 2022

Acc. No. ACCOUNTS TITLE DEBIT CREDIT

101 Cash on hand P 1,200

102 Cash in bank 214,460
103 Accounts receivable 12,000
104 Supplies 4,000
105 Prepaid insurance 8,000
106 Tool & equipment 30,000
107 Accumulated depreciation- Tools and equipment P 400
201 Accounts payable 15,000
202 Interest payable 1,000
203 Notes payable-non-trade 160,000
301 Aokiji, Capital 70,000
302 Aokiji, Drawings 1,000
401 Service revenue 91,000
501 Direct Charges- Wages 23,040
502 Direct Charges- Rent 11,500
503 Direct Charges- Supplies 21,000
504 Direct Charges- Insurance 4,000
505 Direct Charges- Depreciation- Tools and equipment 400
506 Advertising expense 2,000
507 Utilities expense 1,100
508 Taxes and licenses 2,700
509 Interest expense 1,000
TOTAL P 337,400 P 337,400
 AIR COOL & CLEAN SERVICES
10 - Column Worksheet
December 31, 2022
Acc. No. ACCOUNTS TITLE TRIAL BALANCE ADJUSTING ADJUSTED TRIAL BALANCE
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
101 Cash on hand P 1,200 P 1,200
102 Cash in bank 214,460 214,460
103 Accounts receivable 12,000 12,000
104 Supplies 25,000 P 21,000 4,000
105 Prepaid insurance P 8,000 8,000
106 Tool & equipment 30,000 30,000
107 Accumulated depreciation- Tools and equipment 400 P 400
201 Accounts payable P 15000 15,000
202 Interest payable 1,000 1,000
203 Notes payable-non-trade 160,000 160,000
301 Aokiji, Capital 70,000 70,000
302 Aokiji, Drawings 1,000 1,000
303 Income and Expense summary
401 Service revenue 91,000 91,000
501 Direct Charges- Wages 23,040 23,040
502 Direct Charges- Rent 11,500 11,500
503 Direct Charges- Supplies 21,000 21,000
504 Direct Charges- Insurance 12,000 8,000 4,000
505 Direct Charges- Depreciation- Tools and equipment 400 400
506 Advertising expense 2,000 2,000
507 Utilities expense 1,100 1,100
508 Taxes and licenses 2,700 2,700
509 Interest expense 1,000 1,000
Sub Total P 336,000 P 336,000 P 30,400 P 30,400 P 337,400 P 337,400
Net income
TOTAL
 INCOME STATEMENT BALANCE SHEET
DEBIT CREDIT DEBIT CREDIT
P 1,200
214,460
12,000
4,000
8,000
30,000
P 400
15,000
1,000
160,000
70,000
1,000

P 91,000
P 23,040
11,500
21,000
4,000
400
2,000
1,100
2,700
1,000
P 66,740 P 91,000 P 270,660 P 246,400
24,260 24,260
P 91,000 P 91,000 P 270,660 P 270,660