Date: Account title and Explanation Ref No.

May-01 Cash
Gevera, Capital
To record Gevera's Investment
Prepaid rent
Cash
To record advanced payment of rent

May-02 Cash
Notes payable
To record the loan in metrobank

May-04 Service vehicle

Cash
To record the acquisition of service vehicle
Prepaid Insurance
Cash
To record the payment made to Prudential Guarantee
and Assurance, Inc.

May-05 Office Equipment

Cash
Accounts payable
To record the acquisition of office equipment from
fair and square emporium

May-08 Supplies
Accounts payable
To record the purchase of supplies from San
Jose Merchandising on credit

May-09 Accounts Payable

Cash
To record payment made to San Jose Merchandising

May-10 Cash
Service Revenue
To record rendered service to three couples

May-13 Salaries Expense

Cash
To record the payment of salaries

May-15 Cash
Unearned Referral Revenues
 To record advanced fees earned

May-19 Accounts receivable

Service Revenue
To record final arrangements made to the three couples

May-25 Gevera Withdrawals

Cash
To record Gevera's drawings for personal expenses

May-27 Salaries Expense

Cash
To record payment of salaries

May-30 Utilities Expense

Accounts Payable
To record telephone bill from ICC-BayanTel
Cash
Accounts receivable
To record payment received from two couples last May 19

May-31 Utilities Expense

Cash
To record the settled electricity bill
Debit Credit
250,000
250,000

8,000
8,000

210,000
210,000

420,000
420,000

14,400
14,400

60,000
15,000
45,000

18,000
18,000

10,000
10,000

26,400
26,400

6,600
6,600

10,000
10,000
36,000
36,000

14,000
14,000

7,200
7,200

1,400
1,400

24,000
24,000

3,000
3,000
ACCOUNT: CASH
Date: Explanation
May-01 Gevera's Investment
Advanced payment of rent
May-02 Loan in metrobank
May-04 acquisition of service vehicle
payment made to Prudential Guarantee and Assurance, Inc.
May-05 acquisition of office equipment from fair and square emporium
May-09 payment made to San Jose Merchandising
May-10 rendered service to three couples
May-13 payment of salaries
May-15 advanced fees earned
May-25 Gevera's drawings for personal expenses
May-27 payment of salaries
May-30 payment received from two couples last May 19
May-31 settled electricity bill

ACCOUNT: GEVERA, CAPITAL

Date Explanation
May-01 Gevera's Investment

ACCOUNT: PREPAID RENT

Date Explanation
May-01 advanced payment of rent

ACCOUNT: NOTE PAYABLE

Date Explanation
May-02 loan in metrobank

ACCOUNT: SERVICE VEHICLE

Date Explanation
May-04 acquisition of service vehicle

ACCOUNT: PREPAID INSURANCE

Date Explanation
May-04 payment made to Prudential Guarantee and Assurance, Inc.

ACCOUNT: OFFICE EQUIPMENT

Date Explanation
May-05 acquisition of office equipment from fair and square emporium

ACCOUNT: SUPPLIES
Date Explanation
May-08 purchase of supplies from San Jose Merchandising on credit
ACCOUNT: ACCOUNTS PAYABLE
Date Explanation
May-05 acquisition of office equipment from fair and square emporium
May-08 purchase of supplies from San Jose Merchandising on credit
May-09 payment made to San Jose Merchandising
May-30 telephone bill from ICC-BayanTel

ACCOUNT: UNEARNED REFERRAL REVENUES

Date Explanation
May-15 advanced fees earned

ACCOUNT: ACCOUNTS RECEIVABLE

Date Explanation
May-19 final arrangements made to the three couples
May-30 payment received from two couples last May 19

ACCOUNT: GEVERA, WITHDRAWALS

Date Explanation
May-25 Gevera's drawings for personal expenses

ACCOUNT: CONSULTING REVENUE

Date Explanation
May-10 rendered service to three couples
May-19 final arrangements made to the three couples

ACCOUNT: SALARIES EXPENSE

Date Explanation
May-13 payment of salaries
May-27 payment of salaries

ACCOUNT: UTILITIES EXPENSE

Date Explanation
May-30 telephone bill from ICC-BayanTel
May-31 settled electricity bill
Ref No. 110
J.R. (Journal Reference) Debit Credit Balance
J-1 250,000 250,000
J-1 8,000 242,000
J-1 210,000 452,000
J-1 420,000 32,000
J-1 14,400 17,600
J-1 15,000 2,600
J-1 10,000 -7,400
J-1 26,400 19,000
J-1 6,600 12,400
J-1 10,000 22,400
J-1 14,000 8,400
J-1 7,200 1,200
J-1 24,000 25,200
J-1 3,000 22,200
22,200

J.R. Debit Credit Balance

J-1 250,000 250,000

J.R. Debit Credit Balance

J-1 8,000 8,000

J.R. Debit Credit Balance

J-1 210,000 210,000

J.R. Debit Credit Balance

420,000 420,000

J.R. Debit Credit Balance

14,400 14,400

J.R. Debit Credit Balance

60,000 60,000

J.R. Debit Credit Balance

18,000 18,000
J.R. Debit Credit Balance
45,000 45,000
18,000 63,000
10,000 53,000
1,400 54,400

J.R. Debit Credit Balance

10,000 10,000

J.R. Debit Credit Balance

36,000 36,000
24,000 12,000

J.R. Debit Credit Balance

14,000 14,000

J.R. Debit Credit Balance

26,400 26,400
36,000 62,400

J.R. Debit Credit Balance

6,600 6,600
7,200 13,800

J.R. Debit Credit Balance

1,400 1,400
3,000 4,400
 Adjustments for Wedding R Us (End of period May 31)
Date: Account title and Explanation Ref No.
May-31 Rent Expense 530
Prepaid rent 140
To adjust prepaid rent for portion lapsed
(8,000/2*1)

Insurance Expense 540

Prepaid Insurance 150
To adjust prepaid insurance for portion lapsed
(14,400/12*1)

Supplies expense 520

Supplies 130
To adjust entry for the supplies used

Depreciation expense S.V. 560

Accumulated Depreciation S.V. 165
To record depreciation expense for the period of may

Depreciation Expense Off. Equipt. 570

Accumulated Depreciation Off. Equipt. 175
To record depreciation expense for the period of may

Unearned Referral Revenues 260

Referral Revenues 420
To record that one of the referred events has been realized

Salaries Expense 510

Salaries Payable 230
To record accrued salary of employees

Interest Expense 590

Interest Payable 250
To record accrued interest for the period of may

Accounts Receivable 120

Consulting Revenues 410
To record service rendered
eriod May 31)
Debit Credit
4,000
4,000

1,200
1,200

3,000
3,000

4,000
4,000

1,000
1,000

4,000
4,000

1,800
1,800

3,500
3,500

5,300
5,300
 Unadjusted Trial Balance
Ref No. Debit Credit
Balance Sheet Accounts
Cash 110 22,200
Accounts Receivable 120 12,000
Supplies 130 18,000
Prepaid rent 140 8,000
Prepaid Insurance 150 14,400
Service Vehicle 160 420,000
Accumulated Depreciation S.V 165
Office Equipment 170 60,000
Accumulated Depreciation Off. E. 175
Notes Payable 210 210,000
Accounts Payable 220 54,400
Salaries Payable 230
Interest Payable 250
Unearned Referral Revenues 260 10,000
Gevera, Capital 310 250,000
Gevera, Withdrawals 320 14,000

Income Statement Accounts

Consulting Revenue 410 62,400
Referral Revenues 420
Salaries Expense 510 13,800
Supplies Expense 520
Rent Expense 530
Insurance Expense 540
Utilities Expense 550 4,400
Depreciation Expense S.V. 560
Depreciation Expense Off. E. 570
Interest Expense 590
Total 586,800 586,800
 Adjustments Adjusted Trial Balance Income Statement
Debit Credit Debit Credit Debit

22,200
5,300 17,300
3,000 15,000
4,000 4,000
1,200 13,200
420,000
4,000 4,000
60,000
1,000 1,000
210,000
54,400
1,800 1,800
3,500 3,500
4,000 6,000
250,000
14,000

5,300 67,700
4,000 4,000
1,800 15,600 15,600
3,000 3,000 3,000
4,000 4,000 4,000
1,200 1,200 1,200
4,400 4,400
4,000 4,000 4,000
1,000 1,000 1,000
3,500 3,500 3,500
27,800 27,800 602,400 602,400 36,700
35,000
71,700
Income Statement Balance Sheet
Credit Debit Credit

22,200
17,300
15,000
4,000
13,200
420,000
4,000
60,000
1,000
210,000
54,400
1,800
3,500
6,000
250,000
14,000

67,700
4,000

530,700
35,000
71,700 565,700 565,700