GENERAL JOURNAL

Date Description Ref. Debit

1-Dec Cash 101 ₱1,200,000.00
M. Shikigami, Capital 301
Initial investment to start a business
1-Dec Cash 101 ₱300,000.00
Notes Payable 202
Obtained a note from Solar Bank
1-Dec Permits and Licenses Expense 508 ₱15,000.00
Cash 101
Paid permits and licenses for operation
1-Dec Prepaid Rent 104 ₱180,000.00
Cash 101
Paid annual rent
3-Dec Accounts Receivable 102 ₱250,000.00
Professional Fees 401
Rendered services to Kyubi Realties
3-Dec Office Supplies 103 ₱50,000.00
Cash 101
Purchased supplies
9-Dec Office Equipment 105 ₱50,000.00
Cash 101
Purchased laptop
14-Dec Cash 101 ₱250,000.00
Accounts Receivable 102
Received payment from Kyubi Realties, Inc.
17-Dec M. Shikigami, Drawing 302 ₱80,000.00
Cash 101
M. Shikigami withdrew for personal use
21-Dec Representation Expense 504 ₱40,000.00
Accounts Payable 201
Billed 40,000 to Somi Shop rendered to all clients and staff
24-Dec Cash 101 ₱75,000.00
Unearned Revenue 203
Received advanced cash payment
25-Dec Accounts Receivable 102 ₱120,000.00
Professional Fees 401
Rendered services tp Mendoza Ventures Corp.
28-Dec Accounts Receivable 102 ₱45,000.00
Professional Fees 401
Billed 45,000 for taxation services rendered to a client
31-Dec Salaries Expense 501 ₱40,000.00
Utilities Expense 503 ₱20,000.00
Cash 101
Paid for the staff salaries and utilities
 Credit

₱1,200,000.00

₱300,000.00

₱15,000.00

₱180,000.00

₱250,000.00

₱50,000.00

₱50,000.00

₱250,000.00

₱80,000.00

₱40,000.00

₱75,000.00

₱120,000.00

₱45,000.00

₱60,000.00
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit Credit
1-Dec Cash 101 ₱1,200,000.00
Cash 101 ₱300,000.00
Cash 101 ₱15,000.00
Cash 101 ₱180,000.00
3-Dec Cash 101 ₱50,000.00
9-Dec Cash 101 ₱50,000.00
14-Dec Cash 101 ₱250,000.00
17-Dec Cash 101 ₱80,000.00
24-Dec Cash 101 ₱75,000.00
31-Dec Cash 101 ₱60,000.00
TOTAL: ₱1,825,000.00 ₱435,000.00 ###
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
3-Dec Accounts Receivable 102 ₱250,000.00
14-Dec Accounts Receivable 102 ₱250,000.00
25-Dec Accounts Receivable 102 ₱120,000.00
28-Dec Accounts Receivable 102 ₱45,000.00
TOTAL: ₱415,000.00 ₱250,000.00 ₱165,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
3-Dec Office Supplies 103 ₱50,000.00 ₱ -
TOTAL: ₱50,000.00 ₱0.00 ₱50,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
1-Dec Prepaid Rent 104 ₱180,000.00 ₱ -
TOTAL: ₱180,000.00 ₱0.00 ₱180,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
9-Dec Office Equipment 105 ₱50,000.00 ₱ -
TOTAL: ₱50,000.00 ₱0.00 ₱50,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
21-Dec Accounts Payable 201 ₱ - ₱40,000.00
TOTAL: ₱0.00 ₱40,000.00
Credit

###
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
1-Dec Notes Payable 202 ₱ - ₱300,000.00
TOTAL: ₱0.00 ₱300,000.00
Credit

###
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
24-Dec Unearned Revenue 203 ₱ - ₱75,000.00
TOTAL: ₱0.00 ₱75,000.00
Credit

###
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
1-Dec M. Shikigami, Capital 301 ₱ - ₱1,200,000.00
TOTAL: ₱0.00 ₱1,200,000.00
Credit

###
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
17-Dec M. Shikigami, Drawing 302 ₱ 80,000.00 ₱ -
TOTAL: ₱80,000.00 ₱0.00 ₱80,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
3-Dec Professional Fees 404 ₱ 250,000.00 ₱ -
25-Dec Professional Fees 404 ₱120,000.00 ₱ -
28-Dec Professional Fees 404 ₱45,000.00 ₱ -
TOTAL: ₱415,000.00 ₱0.00 ₱415,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
31-Dec Salaries Expense 501 ₱ 40,000.00 ₱ -
TOTAL: ₱40,000.00 ₱0.00 ₱40,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
31-Dec Utilities Expense 503 ₱ 20,000.00 ₱ -
TOTAL: ₱20,000.00 ₱0.00 ₱20,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
21-Dec Representation Expense 504 ₱ 40,000.00 ₱ -
TOTAL: ₱40,000.00 ₱0.00 ₱40,000.00
Credit
 GENERAL LEDGER
Account Number
Balance
Date Item PR Debit Credit Debit
1-Dec Permit and Licenses Expense 508 ₱ 15,000.00 ₱ -
TOTAL: ₱15,000.00 ₱0.00 ₱15,000.00
Credit
 SHIKIGAMI ACCOUNTING FIRM
UNADJUSTED TRIAL BALANCE

ACCOUNTS DEBIT CREDIT

CASH (101) ₱1,390,000.00
ACCOUNT RECEIVABLE (102) ₱165,000.00
OFFICE SUPPLIES (103) ₱50,000.00
PREPAID RENT (104) ₱180,000.00
OFFICE EQUIPMENT (105) ₱50,000.00
ACCOUNTS PAYABLE (201) ₱40,000.00
NOTES PAYABLE (202) ₱300,000.00
UNEARNED REVENUE (203) ₱75,000.00
M.SHIKIGAMI, CAPITAL (301) ₱1,200,000.00
M.SHIKIGAMI, DRAWING (302) ₱80,000.00
PROFESSIONAL FEES (401) ₱415,000.00
SALARIES EXPENSE (501) ₱40,000.00
UTILITIES EXPENSE (503) ₱20,000.00
REPRESENTATION EXPENSE (504) ₱40,000.00
PERMITS AND LICENSES EXPENSE (508) ₱15,000.00
TOTAL ₱2,030,000.00 ₱2,030,000.00