FINANCIAL ACCOUNTING (BSIE) FINALS

INSTRUCTIONS/REQUIREMENTS:
1. Journalize ALL TRANSACTIONS in a two-column journal - GENERAL JOURNAL (Refer to second Sheet)
First entry is provided as a Sample Journal Entry

2. Posting ALL ENTRIES to each T-Accounts (Refer to third sheet)

Do not fill-up the Orange-filled T Accounts

3. Prepare a TRIAL BALANCE (Refer to fourth sheet)

Chart of Accounts used by Engineer REYMSON ROBLES

ASSETS: LIABILITIES:
Cash Payroll taxes payable EXPENSES:
Accounts receivable Salaries payable Doubtful account expense
Notes receivable Unearned service income Salaries & allowances
Office supplies Employee benefits
Prepaid rent EQUITY Miscellaneous expenses
Motor Vehicle Robles, Capital Office supplies expense
Surveying Equipment Robles, Drawing Rent expense
Office Furniture Taxes and licenses
Other Income: Utilities Expense
INCOME Intereest income Depreciation expense
Service income

The following transactions transpired for the Month of March 2022 for Engr. ROBLES , a BSIE
Graduate of Mondriaan Aura College in 2018

Rey started a Surveying Services for the month of April, 2022 with the following transactions:
Asset Method is used on Prepayments, and Liability Method is used on income received in advance

Apr 01 Initial investment of P 200,000 in Cash

Additional investment of equipment:

Surveying Equipment P 40,000 brand new
Tables and chairs 15,000 slightly used but util
Office supplies 10,000

Hired the following:

Office Assistant P 26,000 monthly salary, with SSS, PH and HDMF
Workers 2 workers on call at P 350 per 8-hour work

05 Registered his business with the DTI and paid, P 1,200 in Cash
Registered also with SSS, PH, and BIR, and spent P 2,500 in Cash

07 Performed his initial service to a client Mr. Salcedo, who is billed for P 20,000
Cash P 5,000
On account 15,000

09 Bought a car using his personal funds for P 500,000 and invested into the business

11 Advance rent for 6 months at P 5,000 a month was paid in Cash

15 Salaries paid today, no deductions

The 2 workers worked for 7 days each, no deductions

17 Ms. Delos Santos, another client paid P 50,000 for a service to be performed in May
Made a 50% down payment and the balance on account

22 Mr. Gregorio, another client who is billed for P 40,000

Cash P 10,000
On Account 15,000
FINANCIAL ACCOUNTING (BSIE) FINALS
6% - 30-day promissory note 15,000

25 Drawings made by Engineer Robles, P 20,000

28 Mr. Padilla, another client paid P 30,000 for an emergency surveying services
on April 30

30 Salaries paid today, with deductions for employee's contributions:

Phil-health P 225
SSS 1,500
HDMF 100

Employer's contributions:
Phil-health P 225
SSS 2,250
HDMF 100

The two workers has worked for 15 days each - no deductions.

Billings for utilities paid today

OEDC P 2,500
PLDT 2,000
SW 200
GENERAL JOURNAL * F = Page in the Ledger

DATE PARTICULARS F* DEBIT CREDIT

Apr 01 Cash 1 200,000

Robles, capital 16 200,000

Surveying Equipment 7 40,000

Office Furniture 9 15,000
Office supplies 5 10,000
Robles, capital 16 65,000

05 Taxes and licenses 1,200 + 2,500 25 3,700

Cash 1 3,700

07 Cash 1 5,000
Accounts receivable 2 15,000
Service income 18 20,000

09 Motor Vehicle 11 500,000

Robles, Capital 16 500,000

11 Prepaid rent 5,000x6months 6 30,000

Cash 1 30,000

15 Salaries and allowances 20 17,900

Cash 1 17,900
26,000/ 2 13,000
350 x 7 x 2 4,900

17 Cash 1 25,000
Accounts receivable 2 25,000
Unearned service income 15 50,000

22 Cash 1 10,000
Accounts receivable 2 15,000
 Notes receivable 4 15,000
Service income 18 40,000

DATE PARTICULARS F* DEBIT CREDIT

April 25 Robles, Drawing 17 20,000

Cash 1 20,000

28 Cash 1 30,000
Service income 18 30,000

30 Salaries and allowances 20 23,500

Payroll taxes payable 13 1,825
Cash 1 21,675

26,000/ 2 13,000
350 x 15 x 2 10,500 23,500

PH 225
SSS 1,500
HDMF 100 1,825
Net pay 21,675

30 Employee Benefits 21 2,575

Payroll taxes payable 13 2,575

PH 225
SSS 2,250
HDMF 100 2,575

30 Utilities expense 4,700

Cash 4,700

OEDC 2,500
PLDT 2,000
SW 200 4,700
GENERAL LEDGER First Posting is provided as a Sample

Page 1 Page 2 Page 3

Date Cash Date Date Accounts receivable Date Date Allow. For D/A Date
01 200,000 3,700 01 07 15,000
07 5,000 30,000 11 17 25,000
17 25,000 17,900 15 22 15,000
22 10,000 20,000 25 - -
28 30,000 21,675 30 -
4,700 30

270,000 97,975 55,000 -

172,025 55,000

Page 4 Page 5 Page 6

Date Notes Receivable Date Date Office supplies Date Date Prepaid rent Date
22 15,000 01 10,000 11 30,000

15,000 - 10,000 - 30,000 -

15,000 10,000 30,000

Page 7 Page 8 Page 9

Date Surv. Eqpt Date Date Acc. Depn-SE Date Date Office Furniture Date
01 40,000 01 15,000

40,000 - - - 15,000 -
40,000 - 15,000

Page 10 Page 11 Page 12

Date Acc. Depn- OF Date Date Motor Vehicle Date Date Acc. Depn-MV Date
09 500,000

- - 500,000 - - -
- 500,000 -
GENERAL LEDGER First Posting is provided as a Sample

Page 13 Page 14 Page 15

Date Payroll taxes pay Date Date Salaries Payable Date Date Unearned SI Date
1,825 30 50,000 17
2,575 30

- 4,400 - - - 50,000
4,400 - 50,000

Page 16 Page 17 Page 18

Date Robles, Capital Date Date Robles, Drawings Date Date Service Income Date
200,000 01 25 20,000 20,000 07
65,000 01 40,000 22
500,000 09 30,000 28

- 765,000 20,000 -
765,000 20,000 - 90,000
90,000

Page 19 Page 20 Page 21

Date Interest Income Date Date Salaries & Allow Date Date Employee Benefits Date
15 17,900 30 2,575
30 23,500

- - 41,400 - 2,575 -
- 41,400 2,575

Page 22 Page 23 Page 24

Date Misc. expense Date Date Office supp. Exp Date Date Rent expense Date

- - - - - -
- - -
GENERAL LEDGER First Posting is provided as a Sample

Page 25 Page 26 Page 27

Date Taxes & licenses Date Date Utilities expense Date Date Depn. Exp - SE Date
05 3,700 30 4,700

3,700 - 4,700 - - -
3,700 4,700 -

Page 28 Page 29 Page 30

Date Depn. Exp - OF Date Date Depn. Exp - MV Date Date Doubtful Acct. Exp. Date

- - - - - -
- - -
Date Mr. Salcedo Date
07 15,000

15,000 -
15,000

Date Mr. delos Santos Date

17 25,000

25,000 -
25,000

AR
Date Mr. Gregorio Date
22 15,000

15,000 -
15,000
 NR-6% 30-day PN
Date Mr. Gregorio Date
22 15,000

15,000 -
15,000
ENGR. REY ROBLES
SURVEYING SERVICES
TRIAL BALANCE
For the Period APRIL 1-30, 2022

ACCOUNT TITLES DEBIT CREDIT

Cash 172,025
Accounts receivable 55,000
Allowance for Doubtful Accounts -
Notes receivable 15,000
Office supplies 10,000
Prepaid rent 30,000
Surveying equipment 40,000
Acc. Depreciation - SE -
Office furniture 15,000
Acc. Depreciation - OF -
Motor vehicle 500,000
Acc. Depreciation - MV -

Payroll taxes payable 4,400

Salaries payable -
Unearned service income 50,000

Robles, capital 765,000

Robles, drawings 20,000

Service income 90,000

Interest income -

Salaries & allowances 41,400

Employee benefits 2,575
Miscellaneous expenses -
Office supplies expense -
Rent expense -
Taxes and licenses 3,700
Utilities Expense 4,700
Depreciation expense - SE -
Depreciation expense - OF -
Depreciation expense - MV -
Doubtful Accounts Expense -
TOTALS 909,400 909,400
-