Professional Documents
Culture Documents
Actual Bookkeeping
Actual Bookkeeping
In November, 2020, ACE and QUEEN formed the ACEQUEEN Partnership with initial capital contribution
of P200,000.00, agreed to share profit and losses equally. ACEQUEEN is a non-VAT registered entity
engaged in rendering professional services in an office located in Taguig.
ACEQUEEN PARTNERSHIP
CHART OF ACCOUNT
Cash 255,000.00
Accounts Receivable 115,000.00
Office Equipment 210,000.00
Accumulated Depreciation – Office Equipment 17,500.00
Withholding Tax Payable 800.00
Expanded Withholding Tax Payable 500.00
SSS, Philhealth, Pag-ibig Payable 5,550.00
Utilities Payable 3,800.00
Accrued Percentage Tax 6,750.00
ACE, Capital 272,550.00
KING, Capital 272,550.00
Note:
Depreciation office equipment is 10% per annum, based on the office equipment balance.
Purchase of Supplies are immediately charge to expense
Percentage Tax is accrued monthly at 3% of service income
GENERAL JOURNAL
Page 1
Post
DATE ACCOUNT TITLE DEBIT CREDIT
Ref
GENERAL JOURNAL
Page 2
Post
DATE ACCOUNT TITLE DEBIT CREDIT
Ref
SPECIAL JOURNAL
REVENUE JOURNAL
Date Invoice No. Accounts Debited PR Account Service Revenue
Receivable
Credit
Debit
( ) ( )
( ) ( ) ( )
CASH PAYMENT JOURNAL
SSS,
Expanded
Sundry Salary Philhealth, Withholding Supplies
Voucher Check W/holding
Date Accounts Debited PR Account Expense Pag-ibig Tax Payable Expense Input Tax Cash
No. No. Tax
Debit Debit Payable Debit Debit Debit Credit
Debit
Debit
Total
( ) ( ) ( ) ( ) ( ) ( ) ( )
GENERAL LEDGER
CASH 111 ACCOUNTS RECEIVABLE 113
Date Particulars PR Debit Credit Balance Date Particulars PR Debit Credit Balance