GENERAL JOURNAL

Date Description PR Debit

2022
Apr 1 Cash 101 100,000.00
RBB Capital 301
Invested personal funds in a new bank account
#
1 Cash 101 100,000.00
Notes Payable 230

Acquired cash with notes payable due in September 1, 2022

#
2 Office Equipment 106A 40,000.00
Cash 101
Notes Payable 230
Acquired office equipment from SM Office store 3 mos
#
2 Furnitures and Fixtures 107A 40,000.00
Cash 101
Purchased automobile on account
#
3 Prepaid Rent 104 35,000.00
Cash 101
Advance and monthly payment for rent
#
4 Leasehold Improvement 150 50,000.00
Cash 101
Account Payable 201
Partial payment for the office space improvements
#
5 Transportation and Travel 560 315.00
Entertainment and Representation 570 3,000.00
Cash 101
Soft opening reimbursement for transportation and snacks
#
6 Supplies 103 3,200.00
Accounts Payable 201
Acquired supplies from JK Paper Company
#
7 Cash 101 18,450.00
Service Revenues 410
Received cash for services rendered
#
9 Salaries Expense 501 9,600.00
Cash 101
Paid salaries of staff
#
12 Accounts Receivable 102 25,000.00
 Service Revenues 410
Billed clients for tax sercices performed
#
17 Miscellaneous Expense 510 950.00
Cash 101
Paid for minor repairs of automobile
#
19 Repairs and Maintenance 504 500.00
Cash 101
Paid minor repairs
#
20 Accounts Receivable 102 15,000.00
Service Revenues 410
Billed clients for the bookkeeping services performed
#
22 Prepaid Insurance 170 12,000.00
Cash 101
Paid insurance for the office space
#
23 Communication, Light and Water 540 300.00
Cash 101
Bought Globe prepaid load for office use
#
25 Taxes and License 580 23,450.00
Cash 101

Total permits and licenses paid to City Government of Binan

#
26 RBB Withdrawals 302 5,000.00
Cash 101
Withdrawal for personal use
#
27 Cash 101 10,000.00
Service Revenues 410
Received Payment for service fee in processing the client's
business permits
#
28 Communication, Light and Water 540 1,300.00
Cash 101
PLDT payment for internet services
#
30 Accounts Payable 201 3,200.00
Cash 101
Paid JK Paper Company in full
#
30 Cash 101 10,000.00
Advances from Clients 240
Service Revenues 410
Received payment from the client as retainers fee for the
months of April and May 2022
 #
30 Cash 101 200,000.00
RBB Capital 301
Additional Capital invested
#
706,265.00
Page 1
Credit Required Adjustment Interest accrued for the note payable for one month
Original Transaction Acquired P100,000, notes payable at 3% annual interest due in Septem
Initial Entry Made Cash 101 100,000.00
100,000.00 Notes Payable 202
Analysis Php 100,000 Notes Payable x 3% interest x 6/12 = Php 1500/6 = 250 (6
Apr-01 ADJUSTING ENTRY Interest Expense 250.00
Interest Payable
100,000.00

Required Adjustment Interest accrued for the note payable for one month
Original Transaction financing the remainder by issuing a P25,000 note payable 3% payable
Initial Entry Made Office Equipment 106A 40,000.00
15,000.00 Cash 101
25,000.00 Notes Payable 202
Analysis Php 25,000 Notes Payable x 3% interest x 3/12 = Php 187.50 / 3 = 250
Apr-02 ADJUSTING ENTRY Interest Expense 62.50
Interest Payable
40,000.00
Required Adjustment Advanced payment for rent
Original Transaction Paid rent amounting to P35,000; monthly rental is only P7,000
Initial Entry Made Prepaid Rent 104 35,000.00
35,000.00 Cash 101
Analysis 7000 = rent expired
Apr-03 ADJUSTING ENTRY Rent Expense 7,000.00
Prepaid Rent
25,000.00
25,000.00 Required Adjustment Advanced payment for rent
Original Transaction Improvement partial payment of 25000
Initial Entry Made Leasehold Improvement 150 50,000.00
Cash 101
Account Payable 201
3,315.00 Analysis Partial payment of 25,000
Apr-04 ADJUSTING ENTRY Leasehold Improvement Expense 25,000.00
Leasehold Improvement

3,200.00
Prepaid Insurance 170 12,000.00
Cash 101
Paid insurance for the office space
18,450.00

Cash 101 10,000.00

9,600.00 Advances from Clients 240
Service Revenues 410
25,000.00

950.00

500.00

15,000.00

12,000.00

300.00

23,450.00

5,000.00

10,000.00

1,300.00

3,200.00

5,000.00
5,000.00
200,000.00

706,265.00
one month
annual interest due in September 1, 2022

100,000.00
x 6/12 = Php 1500/6 = 250 (6 months)
1,500.00 312.50
250.00

one month
000 note payable 3% payable in 3 months

15,000.00
25,000.00
x 3/12 = Php 187.50 / 3 = 250 (3months)
187.5
62.50

y rental is only P7,000

35,000.00

7,000.00

25,000.00
25,000.00

25,000.00

9000 1000
Insurance Expense 1,000.00
12,000.00 Prepaid Insurance 1,000.00

Unearned Service Rev 5,000.00

5,000.00 Earned Service Revenue 5,000.00
5,000.00
 Unadjusted Trial Balance Adjustments
Debit Credit Debit
Cash 263,835.00
Prepaid Insurance 12,000.00
Office Equipment 40,000.00
Furnitures and Fixtures 40,000.00
Pre-paid Rent 35,000.00
Leasehold Improvement 50,000.00
Office Supplies 3,200.00
Accounts Receivables 40,000.00
Notes Payable 125,000.00
Accounts Payable 25,000.00
Advances from Clients 5,000.00
RBB Capital 300,000.00
RBB Drawing 5,000.00
Service Revenue 73,450.00
Transportation and Travel 315.00
Entertainment and Representation 3,000.00
Salaries Expense 9,600.00
Miscellaneous Expense 950.00
Repairs and Maintenance 500.00
Taxes and License 23,450.00
Communication, Light and Water 1,600.00
TOTAL 528,450.00 528,450.00
Rent Expense 7,000.00
Insurance Expense 1,000.00
Interest Expense 312.50
Interest Payable
Service Revenue (earned) 5,000.00
Leasehold Improvement Expense 25,000.00
38,312.50
Adjustments Adjusted Trial Balance Profit and Loss
Credit Debit Credit Debit Credit

1,000.00

7,000.00
25,000.00

5,000.00

312.50

38,312.50 - -

-
 Financial Position
Debit Credit