1) General Journal

2) General Ledger

3) Trial Balance, Accounts Payable Schedule, Accounts Receivable Schedule

4)Subsidiary Ledger

5) Worksheet

Thank you!

Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share D33 X V fic A B C D E F G H J K L N O P Q R S T U 4 CRUZ REPAIR SHOP 5 CHART OF ACCOUNTS 7 ASSETS 101 Cash 102 Accounts Receivable 10 103 Allowance for Bad Debts 11 104 Supplies 12 105 Equipment 13 106 Accumulated Depreciation 14 15 LIABILITIES 16 201 Accounts Payable 17 202 Utilities Payable 18 19 EQUITY 20 301 Cruz, Capital 21 302 Cruz, Drawing 22 303 Income and Expense Summary 23 24 REVENUE 25 401 Repairs Revenue 26 27 EXPENSES 28 501 Rent Expense 29 502 Salaries Expense 30 503 Supplies Expense 31 604 Utilities Expense 32 505 Bad Debts Expense 33 506 Depreciation Experse 34 final project general journal general ledger th, ap, ar subsidiary ledger worksheet + Ready + 100%%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share N37 X V A C D E F G H J K L M N O P Q R S T U 37 38 Date Transactions 39 Jun 2 Cruz opened a repair shop business by investing cash of P200,000. 40 3 Paid P2,500 for monthly rent. 41 Purchased equipment on account from AVENSON, P25,000. 42 Rendered repair services for cash, P7, 000. 43 10 Purchased repair supplies on account from Aze Hardware, P2,000. 44 12 Returned defective supplies because of defect, P500. 45 13 Hired an assistant for a monthly salary of P5,000. The assistant will start reporting for duty on June 46 15 Rendered repair services on account: Bartolome - P3,000; Stefano - P5,000; and Mateo, P2,000. 47 18 Paid in full the account with Aze Hardware and paid P12,500 of the AVENSON account. 48 22 Collected customers' account: Bartolome - P3,000; and Stefano - P2,500. 49 28 Cruz withdrew cash for personal use, P3,000. 50 30 Received and paid MERALCO bill, P2,800 51 30 Paid the assistant's salary, P2,500. 52 53 X 54 ADDITIONAL INFORMATION FOR ADJUSTMENT: 55 1 The equipment acquired on June 4, 2012 has an estimated useful life 56 of 5 years with an estimated residual value of P1, 000. It is the company's 57 policy to depreciate the asset for full month on the month of acquisition 58 and no depreciation is recognized on the month of disposal. 59 60 2 It is estimated that P300 of accounts receivable will prove to be 61 uncollectible. 62 63 3 Unpaid PLDT and Maynilad bills for the month of June are P270 and P130, 64 respectively. 65 66 4 Supplies used up, P700. final project general journal general ledger th, ap, ar subsidiary ledger worksheet + Ready + 100%%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share $99 X V A B C D E F G H J K L M N O P Q R S T U 72 ADJUSTING JOURNAL ENTRIES 73 Prepare the adjusting journal entries and determine the adjusted balances of the 74 accounts based on the information given below: 75 1. Depreciation 76 The company purchased an equipment for P250,000 on July 1, 2011. useful life of 5 years and a salvage value of P5,000. It is the company's policy to depreciate the equipment on a straight- 77 line basis. 78 BEFORE ADJUSTMENT AFTER 79 Equipment 250, 000 80 Accumulated Depc 81 Carrying value 250,000 82 83 Depreciation Expense 0 84 85 Adjusting Journal Entry: Dr Cr 86 87 89 2. Bad Debts The company estimates that 2 of accounts receivable will 90 prove to be uncollectible. 91 BEFORE ADJUSTMENT AFTER 92 Accounts Receivabl 300,000 93 Allowance for Bad Del 1,500 94 Net Realizable Valu 295,500 95 96 Bad Debts Expense 0 97 98 Aourting Journal Entry: Cr 99 1 0n final project general journal general ledger th, ap, ar subsidiary ledger worksheet + Ready + 100%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share S131 X V fic A B C D E F G H J K L N O P Q R S T U 102 3. Accrued Expenses 103 ***Accrued expenses are expenses already incurred but not yet paid. Received a bill from Meralco on January 3, 2012 for the 104 December 2011 energy consumption, P3,000. 105 BEFORE ADJUSTMENT AFTER 106 Utilities Payable 107 Utilities Expense 29, 700 108 109 Adjusting Journal Entry: Dr Cr 110 111 112 113 4. Accrued Revenues 114 ***Accrued revenues are revenues already earned but not yet received. The company sublet its office for a P2,500 monthly rental to 115 be paid on the 5th day of the following month. 116 BEFORE ADJUSTMENT AFTER 117 Rent Receivable 0 118 Rent Income 27,500 119 120 Adjusting journal Entry: Dr Cr 121 122 123 124 5. Prepaid Expenses 125 ***Prepaid Expenses are expenses already paid but not yet incurred. 126 The company paid a 1-year insurance of P12,000 on May 1, 2011. 127 BEFORE ADJUSTM AFTER 128 2,000 129 Insurance Expense 130 131 t method Prepaid Insurance 0 Adjusting Journal Entry: Or Cr TWO ADJUSTED JE'S final project general journal general ledger th, ap, ar subsidiary ledger worksheet + Ready + 100%%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share 0132 X V asse B C D E F G H J K L M N P Q R S T U 132 133 34 135 What if? 136 BEFORE ADJUSTMENT AFTER 137 expense method Prepaid Insurance 0 138 Insurance Expense 12,000 139 140 Adjusting Journal Entry: Dr Cr 141 142 143 144 6. Unearned Revenues 145 **Unearned revenues are revenues already received but not yet earned The company received advance rental payment for 6 months 146 of P36,000 on September 1, 2011. 147 BEFORE ADJUSTMENT AFTER 148 Unearned Rent Incom 36,000 149 Rent Income 0 150 51 Adjusting Journal Entry: Cr 152 153 154 liability method 155 What if? 156 BEFORE ADJUSTMENT AFTER 157 revenue method Unearned Rent Incom 0 158 Rent Income 36,000 159 160 Adjusting Journal Entry Dr Cr 161 162 final project general journal general ledger th, ap, ar subsidiary ledger worksheet + eady + 100%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share K1 X V A B C D E F G H I J K L M N O P Q R SUBSIDIARY LEDGERS ACCOUNTS RECEIVABLE SUBSIDIARY LEDGER OR CUSTOMERS' CARD CUSTOMER'S NAME: Date Particulars f Or Cr Balance 4 00 - J 10 11 12 13 CUSTOMER'S NAME 14 Date Particulars f Dr Cr Balance 15 16 17 18 19 20 21 CUSTOMER'S NAME: 22 Date Particulars f Dr Cr Balance 23 24 25 26 27 28 29 ACCOUNTS PAYABLE SUBSIDIARY LEDGER OR SUPPLIERS' CARD final project general journal general ledger th, ap, ar subsidiary ledger worksheet + eady + 100%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share M5 X V A B C D E F G H J K L M N P 4 Unadjusted Trial Statement of Financial Balance Adjustments Adjusted Trial Balance Statement of Income Position Dr Cr Cr Cr Or Cr Cr 7 Cash 8 Accounts Receivable 9 Allowance for Bad Debts 10 Supplies 11 Equipment 12 Accumulated Depreciation 13 Accounts Payable 14 Utilities Payable 15 Cruz, Capital 16 Cruz, Drawing 17 Repairs Revenue 18 Rent Expense 19 Salaries Expense 20 Supplies Expense 21 Utilities Expense 22 Bad Debts 23 Depreciation Expense Total 25 26 Total 27 28 final project general journal general ledger th, ap, ar subsidiary ledger worksheet + Ready + 100%Accounting Cycle.xlsx - Excel X Minimize File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share G1 X V A B C D E F G H I J K L M N O P 1 CRUZ REPAIR SHOP 2 TRIAL BALANCE 3 JUNE 30, 2012 Dr Cr 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 CRUZ REPAIR SHOP 26 ACCOUNTS RECEIVABLE SCHEDULE 27 JUNE 30, 2012 28 final project general journal general ledger tb, ap,ar subsidiary ledger worksheet + : 0 Ready + 100%Accounting Cycle.xlsx - Excel X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share K50 X V A B C D E F G H I J K L M N O P 22 23 24 25 CRUZ REPAIR SHOP 26 ACCOUNTS RECEIVABLE SCHEDULE 27 JUNE 30, 2012 28 29 30 31 32 33 34 35 36 CRUZ REPAIR SHOP 37 ACCOUNTS PAYABLE SCHEDULE 38 JUNE 30, 2012 39 40 41 42 43 44 45 46 47 48 49 50 final project general journal general ledger tb, ap,ar subsidiary ledger worksheet + Ready + 100%