ACTIVITY 6.

1
Business Name Bubbles Center Laundry Services
FS Frequency Monthly
Store Hours 7am-11pm
Payroll Paid every 15th & 30th
Previous Period January 31,2019
Period ending February 28, 2019

Employee Number Employee Name

1556 Mgr1
1557 Mgr2
1558 Staff1
1559 Staff2
1560 Staff3
1561 Staff4

Months
January
February
March
April
May
June
July
August
September
October
November
December

GL Account Code Account Type

1000 Asset
1001 Asset
1002 Asset
1003 Asset
1004 Asset
1005 Asset
2000 Liability
2001 Liability
2002 Liability
2003 Liability
2005 Liability
2006 Liability
3000 Owner's Equity
3001 Owner's Equity
3002 Owner's Equity
4000 Income
4001 Income
5000 Expense
5001 Expense
5002 Expense
5003 Expense
5004 Expense
5005 Expense
 Position BMS
Operations Manager - AM Shif 25,000.00
Operations Manager - PM Shif 25,000.00
Delivery Driver - AM Shif 13,962.00
Delivery Driver - PM Shif 13,962.00
Laundry Helper - AM Shif 13,962.00
Laundry Helper - PM Shif 13,962.00

Sets of Financial Statements

Statement of Financial Position
Statement of Financial Performance
Statement of Changes in Equity
Statement of Cash Flows

GL Account Name
Cash in Bank
Petty Cash
Accounts Receivable
Prepaid Rent
Prepaid Auto Insurance
Fixed Asset
Accounts Payable
Utilities Payable
Compensation Tax Payable
Income Tax Payable
Salaries Payable
SSS, PHIC & HDMF Payable
Bubbles Centro, Capital
Bubbles Centro, Drawing
Income Summary
Sales
Bank Interest Income
Bank Charges
Utilities Expense
Salaries & Wages
Income Tax
SSS, PHIC & HDMF Employer Expense
Supplies Expense
 Bubbles Center Laundry Services
Trial Balance
For the period ending
GL Account Code Account Type GL Account Name
1000 Asset Cash in Bank
1001 Asset Petty Cash
1002 Asset Accounts Receivable
1003 Asset Prepaid Rent
1004 Asset Prepaid Auto Insurance
1005 Asset Fixed Asset
2000 Liability Accounts Payable
2001 Liability Utilities Payable
2002 Liability Compensation Tax Payable
2003 Liability Income Tax Payable
2005 Liability Salaries Payable
2006 Liability SSS, PHIC & HDMF Payable
3000 Owner's Equity Bubbles Centro, Capital
3001 Owner's Equity Bubbles Centro, Drawing
3002 Owner's Equity Income Summary
4000 Income Sales
4001 Income Bank Interest Income
5000 Expense Bank Charges
5001 Expense Utilities Expense
5002 Expense Salaries & Wages
5003 Expense Income Tax
5004 Expense SSS, PHIC & HDMF Employer Expense
5005 Expense Supplies Expense
Checking
Services

January 31,2019
Debit Credit Ending Balance
500,000.00 - 500,000.00
25,000.00 - 25,000.00
84,000.00 - 84,000.00
180,000.00 - 180,000.00
42,000.00 - 42,000.00
450,000.00 - 450,000.00
- - 23,000.00 - 23,000.00
- - 34,000.00 - 34,000.00
- - 1,256.38 - 1,256.38
- - 5,000.00 - 5,000.00
- - 52,090.80 - 52,090.80
- - 13,670.82 - 13,670.82
- - 1,181,495.81 - 1,181,495.81
- - -
- - -
- - 120,000.00 - 120,000.00
- - 125.00 - 125.00
300.00 - 300.00
26,000.00 - 26,000.00
105,848.00 - 105,848.00
- - -
8,490.81 - 8,490.81
9,000.00 - 9,000.00
1,430,638.81 - 1,430,638.81 - 0.00
ACTIVITY 6.2

Employee Number Employee Name BMS Month Payroll Period Daily Rate
1556 Mgr1 25,000.00 January 1-15 961.54
1557 Mgr2 25,000.00 January 1-15 961.54
1558 Staff1 13,962.00 January 1-15 537.00
1559 Staff2 13,962.00 January 1-15 537.00
1560 Staff3 13,962.00 January 1-15 537.00
1561 Staff4 13,962.00 January 1-15 537.00
1556 Mgr1 25,000.00 January 16-31 961.54
1557 Mgr2 25,000.00 January 16-31 961.54
1558 Staff1 13,962.00 January 16-31 537.00
1559 Staff2 13,962.00 January 16-31 537.00
1560 Staff3 13,962.00 January 16-31 537.00
1561 Staff4 13,962.00 January 16-31 537.00
1556 Mgr1 25,000.00 February 1-15 961.54
1557 Mgr2 25,000.00 February 1-15 961.54
1558 Staff1 13,962.00 February 1-15 537.00
1559 Staff2 13,962.00 February 1-15 537.00
1560 Staff3 13,962.00 February 1-15 537.00
1561 Staff4 13,962.00 February 1-15 537.00
1556 Mgr1 25,000.00 February 16-28 961.54
1557 Mgr2 25,000.00 February 16-28 961.54
1558 Staff1 13,962.00 February 16-28 537.00
1559 Staff2 13,962.00 February 16-28 537.00
1560 Staff3 13,962.00 February 16-28 537.00
1561 Staff4 13,962.00 February 16-28 537.00
 Philhealth HDMF SSS
Days Worked Basic Pay EE Share ER Share EE Share ER Share EE Share ER Share
13.00 12,500.00 343.75 343.75 100.00 100.00 581.30 1,208.70
13.00 12,500.00 343.75 343.75 100.00 100.00 581.30 1,208.70
13.00 6,981.00 191.98 191.98 100.00 100.00 490.50 1,004.50
13.00 6,981.00 191.98 191.98 100.00 100.00 490.50 1,004.50
13.00 6,981.00 191.98 191.98 100.00 100.00 490.50 1,004.50
13.00 6,981.00 191.98 191.98 100.00 100.00 490.50 1,004.50
13.00 12,500.00 - - - - - -
13.00 12,500.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 12,500.00 343.75 343.75 100.00 100.00 581.30 -
13.00 12,500.00 343.75 343.75 100.00 100.00 581.30 -
13.00 6,981.00 191.98 191.98 100.00 100.00 508.70 -
13.00 6,981.00 191.98 191.98 100.00 100.00 508.70 -
13.00 6,981.00 191.98 191.98 100.00 100.00 508.70 -
13.00 6,981.00 191.98 191.98 100.00 100.00 508.70 -
13.00 12,500.00 - - - - - -
13.00 12,500.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
13.00 6,981.00 - - - - - -
Total EE Share Total ER Share Compensation Tax Net Pay
1,025.05 1,652.45 211.59 11,263.36
1,025.05 1,652.45 211.59 11,263.36
782.48 1,296.48 - 6,198.52
782.48 1,296.48 - 6,198.52
782.48 1,296.48 - 6,198.52
782.48 1,296.48 - 6,198.52
- - 416.60 12,083.40
- - 416.60 12,083.40
- - - 6,981.00
- - - 6,981.00
- - - 6,981.00
- - - 6,981.00
1,025.05 1,652.45 211.59 11,263.36
1,025.05 1,652.45 211.59 11,263.36
800.68 1,333.28 - 6,180.32
800.68 1,333.28 - 6,180.32
800.68 1,333.28 - 6,180.32
800.68 1,333.28 - 6,180.32
- - 416.60 12,083.40
- - 416.60 12,083.40
- - - 6,981.00
- - - 6,981.00
- - - 6,981.00
- - - 6,981.00
 Bubbles Center Laundry Services
Payslip

Employee Number 1559

Staff2 Employee Number 1556
For the period SEP 1-15 2019 JAN

Basic Monthly Salary 13,962.00

Salary for the fortnight 6,981.00

Salary Deductions:
SSS 490.50
Philhealth 191.98
Pag - Ibig 100.00
Taxes Withheld

Net Pay 6198.52

-
 1558 1559 1560 1561
FEB MAR APR MAY JUN JUL AUG SEP OCT NOV
DEC
 BUBBLES CENTER LA
JOURNAL
FOR THE MONTH
Date JE # Transaction Number GL Account GL Account Name
02/01/2019 1 1003
02/01/2019 1 1000
02/01/2019 2 1004
02/01/2019 2 1000
02/01/2019 3 5005
02/01/2019 3 1001
02/01/2019 4 5005
02/01/2019 4 1001
02/05/2019 5 2005
02/05/2019 5 1000
02/05/2019 6 1005
02/05/2019 6 1000
02/12/2019 7 1002
02/12/2019 7 4000
02/17/2019 8 1002
02/17/2019 8 4000
02/15/2019 9 2006
02/15/2019 9 2002
02/15/2019 9 1000
02/15/2019 10 5004
02/15/2019 10 1001
02/25/2019 11 5002
02/25/2019 11 5004
02/25/2019 11 2002
02/25/2019 11 2006
02/25/2019 11 1000
02/25/2019 12 2001
02/25/2019 12 1000
02/25/2019 13 2001
02/25/2019 13 1000
02/28/2019 14 5002
02/28/2019 14 2002
02/28/2019 14 2005
02/28/2019 15 1001
02/28/2019 15 1000
02/15/2019 16 2005
02/15/2019 16 2006
LES CENTER LAUNDRY SERVICES
JOURNAL ENTRIES
FEBRUARY
Details
Payment of annual rental of commercial space
Payment of annual rental of commercial space
Payment of annual auto insurance for two delivery van
Payment of annual auto insurance for two delivery van
Purchase of Supplies to be used for the month of February - - Detergent
Purchase of Supplies to be used for the month of February - - Detergent
Purchase of Supplies to be used for the month of February - - Fabric Conditioner
Purchase of Supplies to be used for the month of February - - Fabric Conditioner
Payment for January 16-31,2019 Payroll
Payment for January 16-31,2019 Payroll
Acquisition of additional washing machine
Acquisition of additional washing machine
Billed Mapua University for the laundry services of varsity players' uniforms
Billed Mapua University for the laundry services of varsity players' uniforms
Billed Bayleaf Hotel for the laundry services of comforters and pillow cases
Billed Bayleaf Hotel for the laundry services of comforters and pillow cases
Government Statutory Remittance for January 2019
Government Statutory Remittance for January 2019
Government Statutory Remittance for January 2019
Government Statutory Remittance for January 2019 - Correcting Entry
Government Statutory Remittance for January 2019 - Correcting Entry
Payment for February 1-15,2019 Payroll
Payment for February 1-15,2019 Payroll
Payment for February 1-15,2019 Payroll
Payment for February 1-15,2019 Payroll
Payment for February 1-15,2019 Payroll
Paid MWC Bill for January
Paid MWC Bill for January
Paid Meralco Bill for January
Paid Meralco Bill for January
Accrual for Feb 16-28,2019 Payroll
Accrual for Feb 16-28,2019 Payroll
Accrual for Feb 16-28,2019 Payroll
Replenishment of Petty Cash Fund in time for next month
Replenishment of Petty Cash Fund in time for next month
Adjustment on government stat for February
Adjustment on government stat for February
 2019 JANUARY FEBRUARY

Dr Balance Checking
180,000.00
- 18,000.00
42,000.00
- 42,000.00
5,000.00
- 5,000.00
3,000.00
- 3,000.00
52,090.80
- 52,090.80
50,000.00
- 50,000.00
30,000.00
- 30,000.00
150,000.00
- 150,000.00
13,670.82
1,256.38
- 14,927.20
220.00
- 220.00
52,924.00
8,638.02
- 423.18
- 13,818.04
- 47,320.80
20,000.00
- 20,000.00
14,000.00
- 14,000.00
52,924.00
- 833.20
- 52,090.80
8,000.00
- 8,000.00
72.80
- 72.80
MARCH APRIL MAY JUNE JULY AUGUST SEPTEMBEOCTOBER NOVEMBEDECEMBER
DECEMBER
 BUBBL

GL Account Code Account Type GL Account Name

1000 Asset Cash in Bank
1001 Asset Petty Cash
1002 Asset Accounts Receivable
1003 Asset Prepaid Rent
1004 Asset Prepaid Auto Insurance
1005 Asset Fixed Asset
2000 Liability Accounts Payable
2001 Liability Utilities Payable
2002 Liability Compensation Tax Payable
2003 Liability Income Tax Payable
2005 Liability Salaries Payable
2006 Liability SSS, PHIC & HDMF Payable
3000 Owner's Equity Bubbles Centro, Capital
3001 Owner's Equity Bubbles Centro, Drawing
3002 Owner's Equity Income Summary
4000 Income Sales
4001 Income Bank Interest Income
5000 Expense Bank Charges
5001 Expense Utilities Expense
5002 Expense Salaries & Wages
5003 Expense Income Tax
5004 Expense SSS, PHIC & HDMF Employer Expense
5005 Expense Supplies Expense
Totals
 BUBBLES CENTER LAUNDRY SERVICES
JOURNAL ENTRIES
FEBRUARY 28, 2019
Beginning Balance Journal Entries Ending Balance

Debit Credit Debit Credit Debit

500,000.00 - - - 428,338.80 71,661.20
25,000.00 - 8,000.00 - 8,220.00 24,780.00
84,000.00 - 180,000.00 - 264,000.00
180,000.00 - 180,000.00 - 360,000.00
42,000.00 - 42,000.00 - 84,000.00
450,000.00 - 50,000.00 - 500,000.00
- - 23,000.00 - - - 23,000.00
- - 34,000.00 34,000.00 - -
- - 1,256.38 1,256.38 - 1,256.38 - 1,256.38
- - 5,000.00 - - - 5,000.00
- - 52,090.80 52,163.60 - 52,090.80 - 52,018.00
- - 13,670.82 13,670.82 - 13,890.84 - 13,890.84
- - 1,181,495.81 - - - 1,181,495.81
- - - - -
- - - - -
- - 120,000.00 - - 180,000.00 - 300,000.00
- - 125.00 - - - 125.00
300.00 - - - 300.00
26,000.00 - - - 26,000.00
105,848.00 - 105,848.00 - 211,696.00
- - - - -
8,490.81 - 8,858.02 - 17,348.83
9,000.00 - 8,000.00 - 17,000.00
1,430,638.81 - 1,430,638.81 683,796.82 - 683,796.82 1,576,786.03
ES

Ending Balance Income Statement Balance Sheet

Credit Debit Credit Debit Credit

- - - 71,661.20 -
- - - 24,780.00 -
- - - 264,000.00 -
- - - 360,000.00 -
- - - 84,000.00 -
- - - 500,000.00 -
- 23,000.00 - - - - 23,000.00
- - - - -
- 1,256.38 - - - - 1,256.38
- 5,000.00 - - - - 5,000.00
- 52,018.00 - - - - 52,018.00
- 13,890.84 - - - - 13,890.84
- 1,181,495.81 - - - - 1,181,495.81
- - - - -
- - - - -
- 300,000.00 - - 300,000.00 - -
- 125.00 - - 125.00 - -
- 300.00 - - -
- 26,000.00 - - -
- 211,696.00 - - -
- - - - -
- 17,348.83 - - -
- 17,000.00 - - -
- 1,576,786.03 272,344.83 - 300,125.00 1,304,441.20 - 1,276,661.03
 BUBBLES CENTER LAUNDRY SE
GENERAL LEDGER
FOR THE MONTH OF
GL Account Code Account Type GL Account Name Beginning Balance
1000 Asset Cash in Bank 500,000.00
1001 Asset Petty Cash 25,000.00
1002 Asset Accounts Receivable 84,000.00
1003 Asset Prepaid Rent 180,000.00
1004 Asset Prepaid Auto Insurance 42,000.00
1005 Asset Fixed Asset 450,000.00
2000 Liability Accounts Payable - 23,000.00
2001 Liability Utilities Payable - 34,000.00
2002 Liability Compensation Tax Payable - 1,256.38
2003 Liability Income Tax Payable - 5,000.00
2005 Liability Salaries Payable - 52,090.80
2006 Liability SSS, PHIC & HDMF Payable - 13,670.82
3000 Owner's Equity Bubbles Centro, Capital - 1,181,495.81
3001 Owner's Equity Bubbles Centro, Drawing -
3002 Owner's Equity Income Summary -
4000 Income Sales - 120,000.00
4001 Income Bank Interest Income - 125.00
5000 Expense Bank Charges 300.00
5001 Expense Utilities Expense 26,000.00
5002 Expense Salaries & Wages 105,848.00
5003 Expense Income Tax -
5004 Expense SSS, PHIC & HDMF Employer Expense 8,490.81
5005 Expense Supplies Expense 9,000.00
Checking - 0.00
R LAUNDRY SERVICES
AL LEDGER
JANUARY 2019 JANUARY

02/01/2019 02/02/2019 02/03/2019 02/04/2019 02/05/2019 02/06/2019

- 222,000.00 - - - - 102,090.80 -
- 8,000.00 - - - - -
- - - - - -
180,000.00 - - - - -
42,000.00 - - - - -
- - - - 50,000.00 -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - 52,090.80 -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
8,000.00 - - - - -
- - - - - -
FEBRUARY MARCH APRIL MAY JUNE JULY

02/07/2019 02/08/2019 02/09/2019 02/10/2019 02/11/2019 02/12/2019

- - - - - -
- - - - - -
- - - - - 30,000.00
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - - 30,000.00
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
- - - - - -
AUGUST SEPTEMBER OCTOBER NOVEMBER DECEMBER

02/13/2019 02/14/2019 02/15/2019 02/16/2019 02/17/2019 02/18/2019 02/19/2019

- - - 14,927.20 - - - -
- - - 220.00 - - - -
- - - - 150,000.00 - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - 1,256.38 - - - -
- - - - - - -
- - 72.80 - - - -
- - 13,598.02 - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - 150,000.00 - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - 220.00 - - - -
- - - - - - -
- - - - - - -
02/20/2019 02/21/2019 02/22/2019 02/23/2019 02/24/2019 02/25/2019 02/26/2019
- - - - - - 81,320.80 -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - 34,000.00 -
- - - - - - 423.18 -
- - - - - - -
- - - - - - -
- - - - - - 13,818.04 -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - 52,924.00 -
- - - - - - -
- - - - - 8,638.02 -
- - - - - - -
- - - - - - -
02/27/2019 02/28/2019 Ending Balance
- - 8,000.00 71,661.20
- 8,000.00 24,780.00
- - 264,000.00
- - 360,000.00
- - 84,000.00
- - 500,000.00
- - - 23,000.00
- - -
- - 833.20 - 1,256.38
- - - 5,000.00
- - 52,090.80 - 52,018.00
- - - 13,890.84
- - - 1,181,495.81
- - -
- - -
- - - 300,000.00
- - - 125.00
- - 300.00
- - 26,000.00
- 52,924.00 211,696.00
- - -
- - 17,348.83
- - 17,000.00
- - -
 Bubbles Center Laundry Services
Trial Balance
For the period ending
1000 Asset
1001 Asset
1002 Asset
1003 Asset
1004 Asset
1005 Asset
2000 Liability
2001 Liability
2002 Liability
2003 Liability
2005 Liability
2006 Liability
3000 Owner's Equity
3001 Owner's Equity
3002 Owner's Equity
4000 Income
4001 Income
5000 Expense
5001 Expense
5002 Expense
5003 Expense
5004 Expense
5005 Expense
Bubbles Center Laundry Services
Trial Balance
For the period ending February 28, 2019
Cash in Bank 71,661.20 - 71,661.20
Petty Cash 24,780.00 - 24,780.00
Accounts Receivable 264,000.00 - 264,000.00
Prepaid Rent 360,000.00 - 360,000.00
Prepaid Auto Insurance 84,000.00 - 84,000.00
Fixed Asset 500,000.00 - 500,000.00
Accounts Payable - - 23,000.00 - 23,000.00
Utilities Payable - - -
Compensation Tax Payable - - 1,256.38 - 1,256.38
Income Tax Payable - - 5,000.00 - 5,000.00
Salaries Payable - - 52,018.00 - 52,018.00
SSS, PHIC & HDMF Payable - - 13,890.84 - 13,890.84
Bubbles Centro, Capital - - 1,181,495.81 - 1,181,495.81
Bubbles Centro, Drawing - - -
Income Summary - - -
Sales - - 300,000.00 - 300,000.00
Bank Interest Income - - 125.00 - 125.00
Bank Charges 300.00 - 300.00
Utilities Expense 26,000.00 - 26,000.00
Salaries & Wages 211,696.00 - 211,696.00
Income Tax - - -
SSS, PHIC & HDMF Employer Expense 17,348.83 - 17,348.83
Supplies Expense 17,000.00 - 17,000.00
Checking 1,576,786.03 - 1,576,786.03 -
 Bubbles Center Laundry Services
Statement of Financial Performance
For the month ended February 28, 2019
Revenues & Gains
1 4000 Sales 300,000.00
2 4001 Bank Interest Income 125.00
Total Revenue & Gains 300,125.00

Expenses & Losses

1 5000 Bank Charges - 300.00
2 5001 Utilities Expense - 26,000.00
3 5002 Salaries & Wages - 211,696.00
4 5003 Income Tax -
5 5004 SSS, PHIC & HDMF Employer - 17,348.83
6 5005 Supplies Expense - 17,000.00
Total Expenses & Losses - 272,344.83

Net Income
 Bubbles Center Laundry Services
Statement of Financial Position
, 2019 February 28, 2019
ASSETS
Current Asset/s
1000 Cash in Bank 71,661.20
1001 Petty Cash 24,780.00
1002 Accounts Receivable 264,000.00
1003 Prepaid Rent 360,000.00
1004 Prepaid Auto Insurance 84,000.00
804,441.20
Non Current Asset/s
1005 Fixed Asset 500,000.00
TOTAL ASSETS 500,000.00 1,804,441.20

EQUITY AND LIABILITIES

Current Liabilities
2000 Accounts Payable 23,000.00
2001 Utilities Payable -
2002 Compensation Tax Payable 1,256.38
2003 Income Tax Payable 5,000.00
2005 Salaries Payable 52,018.00
2006 SSS, PHIC & HDMF Payable 13,890.84
TOTAL LIABILITITIES 95,165.22

Equity
3000 Bubbles Centro, Capital 1,181,495.81
3001 Bubbles Centro, Drawing -
3002 Income Summary -
TOTAL EQUITY 1,181,495.81
TOTAL EQUITY & LIAIBLITIES 1,276,661.03
27,780.17
*Reconciling item
Variance