Dr. Cr.

1 Uncollectible Account 3000

Estimated Uncollectible Account 3000

2 Salaries and Wages 8000

Salaries & Wages Payable 8000

3 Depreciation Expense-Building 195000

Acc. Depreciation-Building 195000

Depreciation Expense-Furniture & Fixtures 315000

Acc. Depreciation-Furniture & Fixtures 315000

4 Interest Expense 5000

Prepaid Interest 5000

5 Operating Supplies Expense 52500

Operating Supplies 52500

6 Insurance Expense 800

Prepaid Insurance 800

7 Cash in Bank 3800

Hotel Income 3800
 Bohol Pension House
Income Statement
January 31, 20C
Revenues:
Hotel Income ₱ 148,200
Expense:
Interest Expense ₱ 5,000
Operating Supplies Expense 52,500
Salaries & Wages Expense 33,000
Uncollectible Account 3,000
Depreciation Expense-Building 195,000
Depreciation Expense-Furniture & Fixtures 315,000
Taxes and Licenses 12,880
Audit and Legal Fees 12,600
Insurance Expense 800
Utilities Expense 13,500
Telephone and Postpage 12,120
Laundry Expense 15,000 ₱ 670,400
Net Loss -₱ 522,200
 Bohol Pension House
Worksheet
January 31, 20C
Unadjusted Trial Balance Adjustments

Account Titles Dr. Cr. Dr.

Cash in Bank ₱ 180,000 ₱ 3,800
Petty Cash Fund 1,500
Accounts Receivable 60,000
Estimated Uncollectible Account ₱ 1,000
Prepaid Insurance 12,800
Prepaid Interest (Bank Loan) 20,000
Operating Supplies 58,000
Building 1,950,000
Acc. Depreciation-Building 100,000
Furniture and Fixtures 1,575,000
Acc. Depreciation-Furniture & Fixture 117,500
Linens and Towels 600,000
Notes Payable (Bank Loan) 785,000
D. Tabaranza, Capital 3,418,500
D. Tabaranza, Drawing 18,000
Hotel Income 144,400
Taxes and Licenses 12,880
Telephone and Postage 12,120
Laundry Expenses 15,000
Audit & Legal Fees 12,600
Salaries & Wages 25,000 8,000
Utilities Expense 13,500
Total ₱ 4,566,400 ₱ 4,566,400

Interest Expense 5,000

Operating Supplies Expense 52,500
Salaries & Wages Payable
Uncollectible Account 3,000
Depreciation Expense-Building 195,000
Depreciation Expense-Furniture & Fixtures 315,000
Insurance Expense 800
₱ 583,100
Net Income/Loss
Total
Bohol Pension House
Worksheet
January 31, 20C
Adjustments Income Statement Balance Sheet

Cr. Dr. Cr. Dr. Cr.

₱ 183,800
1,500
60,000
₱ 3,000 ₱ 4,000
800 12,000
5,000 15,000
52,500 5,500
1,950,000
195,000 295,000
1,575,000
315,000 432,500
600,000
785,000
3,418,500
18,000
3,800 ₱ 148,200
₱ 12,880
12,120
15,000
12,600
33,000
13,500

5,000
52,500
8,000 8,000
3,000
195,000
315,000
800
₱ 583,100 670,400 148,200
522,200 522,200
₱ 670,400 ₱ 670,400 ₱ 4,943,000 ₱ 4,943,000
 Bohol Pension House
Statement of Changes in Owner's Equity
January 31, 20C

D. Tabanza, Capital ₱ 3,418,500

Add: Loss 522,200
Total ₱ 3,940,700
Less: D. Tabanza, Drawings 18,000
D. Tabanza, Capital - End ₱ 3,922,700
 Bohol Pension House
Balance Sheet
January 31, 20C
ASSETS

Current Assets:
Cash in Bank ₱ 183,800
Petty Cash Funds 1,500
Accounts Receivable ₱ 60,000
Estimated Uncollectible Account - 4,000 56,000
Prepaid Insurance 12,000
Prepaid Interest (Bank Loan) 15,000
Operating Supplies 5,500
Total Current Assets 273,800

Non-Current Assets:
Building 1,950,000
Accumulated Depreciation - Building - 295,000 1,655,000
Furniture & Fixtures 1,575,000
Accumulated Depreciation - Furniture & Fixtures - 432,500 1,142,500
Linens and Towels 600,000
Total Non-Current Assets 3,397,500

Total Assets ₱ 3,671,300

Pension House
ance Sheet
uary 31, 20C
LIABILITIES

Current Liabilities:
Notes Liabilities (Bank Loan) ₱ 785,000
Salaries & Wages Payable 8,000
Total Current Liabilities 793,000

OWNER'S EQUITY

D. Tabaranza, Capital ₱ 3,418,500

D. Tabaranza, Drawings - 18,000 3,400,500
Net Loss - 522,200
Total Owner's Equity 2,878,300

Total Liabilities & Owner's Equity ₱ 3,671,300