Assets

Date Particulars Cash Accounts Receivable

2021
July 1 Invested Cash in the business ₱130,000.00
1 Paid rent on the shop (₱25,000.00)
Balance ₱105,000.00
2 Purchased Supplies (₱8,500.00)
Balance ₱96,500.00
4 Purchased equipmqnt on account
Balance ₱96,500.00
6 Purchased F&F (₱15,375.00)
Balance ₱81,125.00
8 Rendered Service to customer on cash ₱32,650.00
Balance ₱113,775.00
10 Rendered Service to customer on account ₱17,920.00
Balance ₱113,775.00 ₱17,920.00
11 Borrowed from Banco De Oro ₱50,000.00
Balance ₱163,775.00 ₱17,920.00
13 Paid Salaries (₱13,750.00)
Balance ₱150,025.00 ₱17,920.00
17 Paid creditors on account (₱12,000.00)
Balance ₱138,025.00 ₱17,920.00
22 Withdraw cash for personal use (₱10,500.00)
Balance ₱127,525.00 ₱17,920.00
25 Paid the bank (₱8,500.00)
Balance ₱119,025.00 ₱17,920.00
28 Paid Miscellaneous (₱3,750.00)
Balance ₱115,275.00 ₱17,920.00
28 Paid Utilities (₱4,330.00)
Balance ₱110,945.00 ₱17,920.00
30 Collected from on account ₱11,420.00
Balance ₱110,945.00 ₱29,340.00
31 Physical inventory supplies
Balance ₱110,945.00 ₱29,340.00

Total: ₱110,945.00 ₱29,340.00

 DE LUXE PARLOR SHOP

Assets Liabilities

Supplies Equipments Furniture and Fixture Accounts Payable Notes Payable

₱8,500.00
₱8,500.00
₱21,250.00 ₱21,250.00
₱8,500.00 ₱21,250.00 ₱21,250.00
₱27,375.00 ₱12,000.00
₱8,500.00 ₱21,250.00 ₱27,375.00 ₱21,250.00 ₱12,000.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱21,250.00 ₱12,000.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱21,250.00 ₱12,000.00

₱50,000.00
₱8,500.00 ₱21,250.00 ₱27,375.00 ₱21,250.00 ₱62,000.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱21,250.00 ₱62,000.00

(₱12,000.00)
₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱62,000.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱62,000.00

(₱8,500.00)
₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

₱8,500.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

(₱2,500.00)
₱6,000.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

₱6,000.00 ₱21,250.00 ₱27,375.00 ₱9,250.00 ₱53,500.00

 Expenses
Owner's Equity Income
Direct Charges Expenses
Capital Drawing Service Sales Salaries Expenses Rent Expense Supplies

₱130,000.00
(₱25,000.00)
(₱25,000.00)

₱130,000.00 (₱25,000.00)

₱130,000.00 (₱25,000.00)

₱130,000.00 (₱25,000.00)
₱32,650.00
₱130,000.00 ₱32,650.00 (₱25,000.00)
₱17,920.00
₱130,000.00 ₱50,570.00 (₱25,000.00)

₱130,000.00 ₱50,570.00 (₱25,000.00)

(₱13,750.00)
₱130,000.00 ₱50,570.00 (₱13,750.00) (₱25,000.00)

₱130,000.00 ₱50,570.00 (₱13,750.00) (₱25,000.00)

(₱10,500.00)
₱130,000.00 (₱10,500.00) ₱50,570.00 (₱13,750.00) (₱25,000.00)

₱130,000.00 (₱10,500.00) ₱50,570.00 (₱13,750.00) (₱25,000.00)

₱130,000.00 (₱10,500.00) ₱50,570.00 (₱13,750.00) (₱25,000.00)

₱130,000.00 (₱10,500.00) ₱50,570.00 (₱13,750.00) (₱25,000.00)

₱11,420.00
₱130,000.00 (₱10,500.00) ₱61,990.00 (₱13,750.00) (₱25,000.00)
(₱2,500.00)
₱130,000.00 (₱10,500.00) ₱61,990.00 (₱13,750.00) (₱25,000.00) (₱2,500.00)

₱130,000.00 (₱10,500.00) ₱61,990.00 (₱13,750.00) (₱25,000.00) (₱2,500.00)

penses
Summary of Transaction
Expenses
Utilities Miscellaneous
Assets
Cash ₱110,945.00
Accounts Recevable 29,340
Supplies 6,000
Equipments 21,250
Furnitures and Fixtures 27,375
Total Assets:

Liabilities
Accounts Payable ₱9,250.00
Notes Payable 53,500
Total Liabilities:

Owners Equity
Capital, Ms. Julie Reyes ₱130,000.00
Drawing, Ms. Julie Reyes (₱10,500.00)
Income
Service Sales 61,990
Expenses DC - Salaries (₱13,750.00)
DC - Rent (₱25,000.00)
Expenses - Supplies (₱2,500.00)
Expenses - Utilities (₱4,330.00)
Expenses - Miscellaneous (₱3,750.00)
Total Owner's Equity:
(₱3,750.00)
(₱3,750.00) Total Liabilites and Owner's Equity:
(₱4,330.00)
(₱4,330.00) (₱3,750.00)

(₱4,330.00) (₱3,750.00)

(₱4,330.00) (₱3,750.00)

(₱4,330.00) (₱3,750.00)
on

₱194,910.00

₱62,750.00

₱132,160.00

₱194,910.00
 DE LUXE PARLOR SHOP
Journalizing

Date Particulars Debit Credit

2021
July 1 Cash 130,000
Capital, Ms. Julie Reyes 130,000

To record invested cash, Ms. Julie Reyes

1 DC - Rent Expense 25,000

Cash 25,000
To record rent on the shop

2 Supplies 8,500
Cash 8,500
To record Supplies

4 Equipments 21,250
Accounts Payable 21,250
To record equipments

6 Furniture and Fixture 27,375

Cash 15,375
Notes Payable 12,000
To record furniture and fixtures, giving a
down payment of P15,375 and a short
term note for the balance.

8 Cash 32,650
Service Sales 32,650
 To record rendered service

10 Accounts Receivable 17,920

Service Sales 17,920
Torecord rendered service on account

11 Cash 50,000
Notes Payable 50,000
To record borrowed cash on Banco De Oro

13 DC - Salaries 13,750
Cash 13,750
To record paid salaries

17 Accounts Payable 12,000

Cash 12,000
To record paid creditor on account

22 Drawing, Ms. Julie Reyes 10,500

Cash 10,500
To record owner drawing.

25 Notes Payable 8,500

Cash 8,500
To record paid the bank
28 Expenses - Miscellaneous 3,750
Cash 3,750
To record Miscellaneous

28 Expenses - Utilities 4,330

Cash 4,330
To record Utilities

30 Accounts Receivable 11,420

Service Sales 11,420
To record collected cash from customer

31 Epenses - Supplies 2,500

Supplies 2,500
To record inventory supplies
 CASH
Date Particulars Debit Date
2021 2021
Jul-01 Invested capital, Ms. Julie Reyes ₱ 130,000.00 Jul-01
8 Rendered services to customers ₱ 32,650.00 2
11 Borrowed cash from Banco De Oro ₱ 50,000.00 6
13
17
22
25
28
28
Sub-total ₱ 212,650.00
Balance ₱ 110,945.00

Accounts Receivable
Date Particulars Debit Date
2021 2021
Jul-10 Rendered services to customers on account ₱ 17,920.00
Jul-30 Collected cash from customers on account. ₱ 11,420.00

Sub-total ₱ 29,340.00
Balance ₱ 29,340.00

Supplies
Date Particulars Debit Date
2021 2021
Jul-02 Purchased supplies for cash ₱ 8,500.00 Jul-31

Sub-total ₱ 8,500.00
Balance ₱ 6,000.00

Equipments
Date Particulars Debit Date
 2021 2021
Jul-04 Purchased equipment on account ₱ 21,250.00

Sub-total ₱ 21,250.00
Balance ₱ 21,250.00

Furniture and Fixtures

Date Particulars Debit Date
2021 2021
Jul-06 Purchased furniture and fixtures ₱ 27,375.00

Sub-total ₱ 27,375.00
Balance ₱ 27,375.00

Accounts Payable
Date Particulars Debit Date
2021 2021
Jul-17 Paid creditors on account ₱ 12,000.00 Jul-04

Sub-total ₱ 12,000.00

Notes Payable
Date Particulars Debit Date
2021 2021

Jul-25 Paid the bank ₱ 8,500.00 Jul-06

11

Sub-total ₱ 8,500.00

Ms. Julie Reyes - Capital

Date Particulars Debit Date
 2021 2021

Jul-01

Sub-total ₱ -

Ms. Julie Reyes - Drawing

Date Particulars Debit Date
2021 2021
Jul-22 The owner withdrew cash fo personal use ₱ 10,500.00

Sub-total ₱ 10,500.00
Balance ₱ 10,500.00

Service Sales
Date Particulars Debit Date
2021 2021

Jul-08

10

30
Sub-total ₱ -

DC - Salaries
Date Particulars Debit Date
2021 2021
Jul-13 Paid salaries of beauticians ₱ 13,750.00

Sub-total ₱ 13,750.00
Balance ₱ 13,750.00

DC - Rent
Date Particulars Debit Date
2021 2021

Jul-01 Paid cash for the first month’s rent on the shop ₱ 25,000.00

Sub-total ₱ 25,000.00
Balance ₱ 25,000.00

Expenses - Supplies
Date Particulars Debit Date
2021 2021
Made a physical inventory of supplies - supplies
Jul-31 on hand remaining ₱ 2,500.00

Sub-total ₱ 2,500.00
Balance ₱ 2,500.00

Expenses - Utilities
Date Particulars Debit Date
2021 2021
Jul-28 Paid utilities expense ₱ 4,330.00

Sub-total ₱ 4,330.00
Balance ₱ 4,330.00

Expenses - Miscellaneous
Date Particulars Debit Date
2021 2021
Jul-28 Paid miscellaeous expense ₱ 3,750.00

Sub-total ₱ 3,750.00
Balance ₱ 3,750.00
ASH
Particulars Credit

Paid for the first month's rent ₱ 25,000.00

Purchased supplies ₱ 8,500.00
Purchased furniture and fixtures ₱ 15,375.00
Paid salaries of beauticians ₱ 13,750.00
Paid creditors on account ₱ 12,000.00
The owner withdrew cash for personal use ₱ 10,500.00
Paid the bank ₱ 8,500.00
Paid miscellaneous expense ₱ 3,750.00
Paid Utilities expense ₱ 4,330.00
Sub-total ₱ 101,705.00

Receivable
Particulars Credit

Sub-total

plies
Particulars Credit

Inventory supplies on hold remaining ₱ 2,500.00

Sub-total ₱ 2,500.00

ments
Particulars Credit
 Sub-total ₱ -

and Fixtures
Particulars Credit

Sub-total ₱ -

s Payable
Particulars Credit

Purchased equipment on account ₱ 21,250.00

Sub-total ₱ 21,250.00
Balance -₱ 9,250.00

Payable
Particulars Credit

Purchased equipment on account, short term

₱ 12,000.00
note for the balance.
Borrowed cash from Banco De Oro signing a
₱ 50,000.00
note

Sub-total ₱ 62,000.00
Balance -₱ 53,500.00

yes - Capital
Particulars Credit
 Ms. Julie Reyes invested cash in the business ₱ 130,000.00

Sub-total ₱ 130,000.00
Balance -₱ 130,000.00

yes - Drawing
Particulars Credit

Sub-total ₱ -

e Sales
Particulars Credit

Rendered services to customers, receiving

₱ 32,650.00
cash

Rendered services to customers on account ₱ 17,920.00

Colleted from customer on account ₱ 11,420.00

Sub-total ₱ 61,990.00
Balance -₱ 61,990.00

alaries
Particulars Credit

Sub-total ₱ -

Rent
 Particulars Credit

Sub-total ₱ -

- Supplies
Particulars Credit

Sub-total ₱ -

- Utilities
Particulars Credit

Sub-total ₱ -

Miscellaneous
Particulars Credit

Sub-total ₱ -
 DE LUXE PARLOR SHOP
Trial Balance
For the current year

Account No. Accounts Title Debit Credit

Cash ₱110,945.00
Accounts Receivable ₱29,340.00
Supplies ₱6,000.00
Equipments ₱21,250.00
Furniture and Fixtures ₱27,375.00
Accounts Payable ₱9,250.00
Notes Payable ₱53,500.00
Ms. Julie Reyes - Capital ₱130,000.00
Ms. Julie Reyes - Drawing ₱10,500.00
Service Sales ₱61,990.00
Dc - Salaries ₱13,750.00
DC - Rent ₱25,000.00
Epenses - Supplies ₱2,500.00
Expenses - Utilities ₱4,330.00
Expenses - Miscellaneous ₱3,750.00

Total ₱254,740.00 ₱254,740.00

 DE LUXE PARLOR SHOP
Statement of Income
For the Current Year

Service Revenue
Service Sales ₱61,990.00
61990
Less:
DC - Salaries ₱13,750.00
DC - Rent 25000
38,750
Gross Income ₱23,240.00

Less:
Expenses - Supplies ₱2,500.00
Expenses - Utilities 4330
Expenses - Miscellaneous 3750
₱10,580.00
Net Income ₱12,660.00

DE LUXE PARLOR SHOP

Statement of Financial Position
For the Current Year
Assets Liabiliti
Current Assets: Current Liabilities
Cash ₱110,945.00
Accounts Receivable 29340
Supplies 6000
Total Current Assets: ₱146,285.00 Total Current Liabilities:

Non Current Assets Noncurrent Liabilities

Equipments 21250
Furniture and Fixture 27375
Total Noncurrent Assets: ₱48,625.00 Total Noncurrent Liabilities:

Total Liabilities:

Owner's Equity, Ms. Julie Reyes

Total Assets: ₱194,910.00 Total Liabilities and Equity:

DE LUXE PARLOR SHOP

Statement of Change in Equity
For the Current Year

Owner's Equity, Beginning

Add: Net Income

Less: Drawing
Owner's Equity, End
E PARLOR SHOP
of Financial Position
e Current Year
Liabilities and Equity
Current Liabilities
Accounts Payable ₱9,250.00
Notes Payable 53500

Total Current Liabilities: ₱62,750.00

Noncurrent Liabilities
-
-
Total Noncurrent Liabilities: -

Total Liabilities: ₱62,750.00

Owner's Equity, Ms. Julie Reyes ₱132,160.00

Total Liabilities and Equity: ₱194,910.00

₱130,000.00
₱12,660.00
₱142,660.00
₱10,500.00
₱132,160.00