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Uy Balance Sheet

1. The document appears to be a journal and ledger for a sole proprietorship accounting practice recording transactions from May 2 to May 28. 2. Various expenses such as office equipment, supplies, salaries and professional dues are recorded through debits and credits to appropriate accounts. 3. Revenue from accounting services provided to customers is recorded as debits to the cash and account receivables accounts with credits to the accounting revenue account.

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Mary Louise Camposano
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125 views8 pages

Uy Balance Sheet

1. The document appears to be a journal and ledger for a sole proprietorship accounting practice recording transactions from May 2 to May 28. 2. Various expenses such as office equipment, supplies, salaries and professional dues are recorded through debits and credits to appropriate accounts. 3. Revenue from accounting services provided to customers is recorded as debits to the cash and account receivables accounts with credits to the accounting revenue account.

Uploaded by

Mary Louise Camposano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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Journal

Date Particulars PR Debit Credit


May 2 Cash 110 ₱ 92,500.00
Uy, Capital 310 ₱ 92,500.00
Transfer cash from personal account to checking account

3 Office Equipment 150 ₱ 36,800.00


Account Payable 220 ₱ 36,800.00
Acquired office equipment from Liboro Furniture

4 Office Supplies 130 ₱ 17,100.00


Account Payable 220 ₱ 17,100.00
Acquired office supplies from Palatino Office Supplies

6 Account Receivable 120 ₱ 29,200.00


Accounting Revenues 410 ₱ 29,200.00
Perform accounting service for Gabayan Computers and submitted a bill

7 Accounting Library 160 ₱ 19,500.00


Cash 110 ₱ 19,500.00
Paid for accounting and tax books for use in the practice

8 Account Payable 220 ₱ 4,100.00


Cash 110 ₱ 4,100.00
Paid Palatino Office Supplies

10 Office Condominium 140 ₱ 265,000.00


Cash 110 ₱ 38,000.00
Note Payable 210 ₱ 227,000.00
Acquired a condominium unit for accounting practices
Journal
2

12 Salaries Expense 510 ₱ 14,200.00


Cash 110 ₱ 14,200.00
Paid salaries

13 Cash 110 ₱ 9,750.00


Account Receivable 120 ₱ 9,750.00
Receive from payment from Gabayan Computers

16 Telephone Expense 530 ₱ 650.00


Cash 110 ₱ 650.00
Paid telephone expense

19 Cash 110 ₱ 14,600.00


Accounting Revenue 410 ₱ 14,600.00
Receive cash from Millari book for accountinf service rendered

22 Office Supplies 130 ₱ 4,650.00


Account Payable 220 ₱ 4,650.00
Acquired office supplies from Palatino Office Supplies

23 Uy, Withdrawal 320 ₱ 8,150.00


Cash 110 ₱ 8,150.00
Withdraw for personal use

25 Salaries Expense 510 ₱ 10,300.00


Cash 110 ₱ 10,300.00
Paid salaries

26 Account Receivable 120 ₱ 31,600.00


Accounting Revenue 410 ₱ 31,600.00
Billed Chua Exporters for accounting service rendered
Journal
3

27 Professional Dues Expense 540 ₱ 5,500.00


Cash 110 ₱ 5,500.00
Paid PICPA - Palawan

28 Rent Expense 520 ₱ 3,250.00


Cash 110 ₱ 3,250.00
Paid rent on a office copying machine
Ledger
4

Date Explanation JR Debit Credit Balance


Account name: CASH Account number: 110
May Transfer cash from personal account to
2 J-1 ₱ 92,500.00 ₱ 92,500.00
checking account
7 Paid for accounting and tax books for use in J-1 ₱ 19,500.00 ₱ 73,000.00
the practice
8 Paid Palatino Office Supplies J-1 ₱ 4,100.00 ₱ 68,900.00
Acquired a condominium unit for accounting
10 J-1 ₱ 38,000.00 ₱ 30,900.00
practices
12 Paid salaries J-2 ₱ 14,200.00 ₱ 16,700.00
Receive from payment from Gabayan
13 J-2 ₱ 9,750.00 ₱ 26,450.00
Computers
16 Paid telephone expense J-2 ₱ 650.00 ₱ 25,800.00
Receive cash from Millari book for
19 J-2 ₱ 14,600.00 ₱ 40,400.00
accounting service rendered
23 Withdraw for personal use J-2 ₱ 8,150.00 ₱ 32,250.00
25 Paid salaries J-2 ₱ 10,300.00 ₱ 21,950.00
27 Paid PICPA - Palawan J-3 ₱ 5,500.00 ₱ 16,450.00
28 Paid rent on a office copying machine J-3 ₱ 3,250.00 ₱ 13,200.00

Account name: ACCOUNT RECEIVABLE Account number: 120


May Perform accounting service for Gabayan
6 J-1 ₱ 29,200.00 ₱ 29,200.00
Computers and submitted a bill
Receive from payment from Gabayan
13 J-2 ₱ 9,750.00 ₱ 19,450.00
Computers
Billed Chua Exporters for accounting
26 J-3 ₱ 31,600.00 ₱ 51,050.00
service rendered
Ledger
5

Account name: OFFICE SUPPLIES Account number: 130


May 4 Acquired office supplies from Palatino
J-1 ₱ 17,100.00 ₱ 17,100.00
Office Supplies
22 Acquired office supplies from Palatino
J-2 ₱ 4,650.00 ₱ 21,750.00
Office Supplies

Account name: OFFICE CONDOMINIUM Account number: 140


May 10 Acquired a condominium unit for accounting
J-1 ₱ 265,000.00 ₱ 265,000.00
practices

Account name: OFFICE EQUIPMENT Account number: 150


May 3 Acquired office equipment from Liboro
J-1 ₱ 36,800.00 ₱ 36,800.00
Furniture

Account name: ACCOUNTING LIBRARY Account number: 160


Paid for accounting and tax books for use in
May 7 J-1 ₱ 19,500.00 ₱ 19,500.00
the practice

Account name: NOTES PAYABLE Account number: 210


May Acquired a condominium unit for accounting
10 J-1 ₱ 227,000.00 ₱ 227,000.00
practices

Account name: ACCOUNT PAYABLE Account number: 220


May 3 Acquired office equipment from Liboro
J-1 ₱ 36,800.00 ₱ 36,800.00
Furniture
4 Acquired office supplies from Palatino
J-1 ₱ 17,100.00 ₱ 53,900.00
Office Supplies
8 Paid Palatino Office Supplies J-1 ₱ 4,100.00 ₱ 49,800.00
Acquired office supplies from Palatino
22 J-2 ₱ 4,650.00 ₱ 54,450.00
Office Supplies
Ledger
6

Account name: UY, CAPITAL Account number: 310


Transfer cash from personal account to
May 2 J-1 ₱ 92,500.00 ₱ 92,500.00
checking account

Account name: UY, WITHDRAWAL Account number: 320


May 23 Withdrew for personal use J-2 ₱ 8,150.00 ₱ 8,150.00

Account name: ACCOUNTING REVENUE Account number: 410


May Perform accounting service for Gabayan
6 J-1 ₱ 29,200.00 ₱ 29,200.00
Computers and submitted a bill
Receive cash from Millari book for
19 J-2 ₱ 14,600.00 ₱ 43,800.00
accounting service rendered
26 Billed Chua Exporters for accounting
J-3 ₱ 31,600.00 ₱ 75,400.00
service rendered

Account name: SALARIES EXPENSE Account number: 510


May 12 Paid salaries J-2 ₱ 14,200.00 ₱ 14,200.00
25 Paid salaries J-2 ₱ 10,300.00 ₱ 24,500.00

Account name: RENT EXPENSE Account number: 520


May 28 Paid rent on a office copying machine J-3 ₱ 3,250.00 ₱ 3,250.00

Account name: TELEPHONE EXPENSE Account number: 530


May 16 Paid telephone expense J-2 ₱ 650.00 ₱ 650.00

Account name: PROFESSIONAL DUE EXPENSE Account number: 540


May 27 Paid PICPA - Palawan J-3 ₱ 5,500.00 ₱ 5,500.00
7 T-Accounts

CASH ACCOUNT RECEIVABLE


₱ 92,500.00 ₱ 19,500.00 ₱ 29,200.00 ₱ 9,750.00
₱ 9,750.00 ₱ 4,100.00 ₱ 31,600.00
₱ 14,600.00 ₱ 38,000.00 ₱ 60,800.00
₱ 116,850.00 ₱ 14,200.00 ₱ 9,750.00
₱ 103,650.00 ₱ 650.00 ₱ 51,050.00
₱ 13,200.00 ₱ 8,150.00
₱ 10,300.00 OFFICE SUPPLIES
₱ 5,500.00 ₱ 17,100.00
₱ 3,250.00 ₱ 4,650.00
₱ 103,650.00 ₱ 21,750.00

OFFICE EQUIPMENT OFFICE CONDOMINIUM


₱ 36,800.00 ₱ 265,000.00

NOTES PAYABLE ACCOUNTING LIBRARY


₱ 227,000.00 ₱ 19,500.00

UY, CAPITAL ACCOUNT PAYABLE


₱ 92,500.00 ₱ 4,100.00 ₱ 36,800.00
₱ 17,100.00
ACCOUNTING REVENUE ₱ 4,650.00
₱ 29,200.00 ₱ 58,550.00
₱ 14,600.00 ₱ 4,100.00
₱ 31,600.00 ₱ 54,450.00
₱ 75,400.00
UY, WITHDRAWAL
₱ 8,150.00
RENT EXPENSE
₱ 3,250.00 SALARIES EXPENSE
₱ 14,200.00
TELEPHONE EXPENSE ₱ 10,300.00
₱ 650.00 ₱ 24,500.00

PROFESSIONAL DUE EXPENSE


₱ 5,500.00
8 Trial Balance

Joanmarie Uy's Accounting Firm


Trial Balance
May 28, 2019
Cash ₱ 13,200.00
Account Receivable ₱ 51,050.00
Office Supplies ₱ 21,750.00
Office Condominium ₱ 265,000.00
Office Equipment ₱ 36,800.00
Accounting Library ₱ 19,500.00
Note Payable ₱ 227,000.00
Account Payable ₱ 54,450.00
Uy, Capital ₱ 92,500.00
Uy, Withdrawal ₱ 8,150.00
Accounting Revenues ₱ 75,400.00
Salaries Expense ₱ 24,500.00
Rent Expense ₱ 3,250.00
Telephone Expense ₱ 650.00
Professional Dues Epense ₱ 5,500.00
₱ 449,350.00 ₱ 449,350.00

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