Date Transaction

January 1 Canino invested cash, 20,000.00

January 2 Canino invested an office equipment, 1,500.00
January 3 Canino purchased 600.00 office supplies on account
January 4 Canino performed a service to a customer, the customer did not pay yet
750.00
January 5 Received the utility bill to be paid on January 10, 200.00
January 6 The customer from January 4 already paid the service
January 7 Canino paid the office supplies on January 3
January 8 Customer paid Canino for a service to be rendered for next month,
1,500.00
January 9 Paid 300.00 salary of the office boy.
January 10 Payment of the utility bill
1. Canino Sole Proprietorship

Chart of Accounts

Cash Canino, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility payable Utilities expense
Unearned Service Revenue Salaries expense Office Equipment

Date Transaction
February 1 Dela Cruz invested cash, 10,000.00
February 3 Dela Cruz invested an office computer, 500.00
February 5 Dela Cruz purchased 1,600.00 office supplies by cash
February 7 Dela Cruz paid the rent for the whole year, 12,000.00
February 9 Received the utility bill to be paid on February 20, 200.00
February 11 The customer paid Dela Cruz for the service to be performed on
February 19. 600.00
February 13 Dela Cruz performed a service to a customer for 500.00. The customer
already paid
February 15 Paid the salaries of two employees. 1,500.00
February 17 Dela Cruz purchased an Office Equipment on account. 650.00
February 19 Already performed the service on February 11.
2. Dela Cruz Sole Proprietorship

Chart of Accounts

Cash Dela Cruz, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility payable Utilities expense
Unearned Service Revenue Salaries expense Prepaid rent Office Equipment
Office Computer
 Date Transaction
March 1 Laput invested office equipment, 10,000.00
March 3 Laput invested cash, 5,000.00
March 5 Laput purchased 2,600.00 office supplies on account
March 7 Lapiut paid the rent for the whole year, 15,000.00
March 9 Received the utility bill to be paid on March 20, 100.00
March 11 The customer paid Laput for the service to be performed on March 19.
6,000.00
March 13 Laput performed a service to a customer for 5,000.00. The customer
already paid.
March 15 Paid the salaries of three employees. 3,000.00
March 17 Laput withdrew 1,000.00 from the capital account.
March 19 Already performed the service on March 11.
3. Laput Proprietorship

Chart of Accounts

Cash Laput, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility payable Utilities expense
Unearned Service Revenue Salaries expense Prepaid rent Office Equipment
Office Computer Laput, Drawing

Date Transaction
April 1 Alba invested cash, 60,000.00
April 3 Alba purchase an office equipment on account, 5,000.00
April 5 Alba purchased 3,600.00 office supplies on account
April 7 Alba paid the rent for three months, 6,000.00
April 9 Received the utility bill to be paid on May 20, 600.00
April 11 The customer paid Alba for the service to be performed on April 19.
4,000.00
April 13 Alba performed a service to a customer for 5,000.00. The customer did
not pay yet.
April 15 Paid the salaries of two employees. 3,000.00
April 17 Alba withdrew 4,000.00 from the capital account.
April 19 Already performed the service on April 11.
4. Alba Proprietorship

Chart of Accounts

Cash Alba, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility Payable Utilities expense
Unearned Service Revenue Salaries expense Prepaid rent Office Equipment
Office Computer Alba, Drawing
 Date Transaction
January 1 Jazareno invested cash, 160,000.00
January 3 Jazareno purchase an office equipment on account, 15,000.00
January 5 Jazareno withdrew 14,000.00 from the capital account.
January 7 Jazareno performed a service to a customer for 15,000.00. The customer
did not pay yet.
January 9 Received the utility bill to be paid on February 20, 900.00
January 11 The customer paid Jazareno for the service to be performed on January
19. 14,000.00
January 13 Jazareno paid the rent for three months, 16,000.00
January 15 Paid the salaries of two employees. 13,000.00
January 17 Jazareno purchased 13,600.00 office supplies on account.
January 19 Already performed the service on January 11.
5. Jazareno Proprietorship

Chart of Accounts

Cash Jazareno, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility bill Utilities expense
Unearned Service Revenue Salaries expense Prepaid rent Office Equipment
Office Computer Jazareno, Drawing

6. Sharma Proprietorship

Date Transaction
January 1 Sharma invested cash, 450,000.00
January 2 Sharma invested additional office equipment, 150,000.00
January 3 Sharma entered on a contract for a service to be performed next month.
The customer already paid. 30,000.00
January 4 Sharma bought office supplies on account, 1,000.00
January 5 Sharma invested additional cash, 20,000.00
January 6 Sharma performed a service to a customer, 15,000.00 The customer did
not pay yet.
January 7 Sharma the salary bill for the office maintenance worker, 200.00. Sharma
already paid the bill.
January 8 Sharma collected 30,000.00 worth of service to be performed next
month.
January 9 Sharma performed a service to a customer, 45,000.00 The customer
paid.
January 10 Sharma bought additional office supplies on account, 1,000.00
January 11 Sharma invested additional cash, 10,000.00
January 12 Sharma paid the salaries of three employees, 45,000.00
January 13 Sharma paid the utility bill, 15,000.00
January 14 Sharma paid the rent for the whole year 120,000.00
January 15 Sharma paid the office supplies bought on January 4 and January 10.
January 16 Sharma withdrew, 15,000.00 from the capital account
January 17 Sharma purchased additional three computers, 45,0000.00
 January 18 Sharma collected the receivable from January 6.
January 19 Sharma performed a service to a customer ,60.000. The customer paid
already
January 20 Sharma bought additional supplies, 3,000.00, by cash.
January 21 Sharma invested additional 45,000.00 worth of cash.
January 22 Sharma collected 130,000.00 worth of service to be performed next
month.
January 23 Sharma paid the salaries of four employees, 60,000.00
January 24 Sharma paid the office insurance for the whole year, 45,000.00
January 25 Sharma bought 5 additional computers, 50,000.00 to be paid next
month.
January 26 Sharma collected 430,000.00 worth of service to be performed on
January 28.
January 27 Sharma collected 60,000.00 from a customer. The service has already
been completed.
January 28 Sharma already performed as agreed on January 26
January 29 Sharma withdrew 10,000.00 from the capital account.
January 30 Sharma bought additional supplies, 3,000.00, by cash.
January 31 Sharma paid the salaries of the remaining 2 employees, 20,000.00

Chart of Accounts

Cash Sharma, Capital Office supplies Accounts Payable

Accounts Receivable Service Revenue Utility payable Utilities expense
Unearned Service Revenue Salaries expense Prepaid rent Office Equipment
Office Computers Sharma, Drawing Prepaid insurance
Depreciation expense Accumulated depreciation-office computers

Unearned Revenue and Service Revenue

Unearned service revenue Month-end adjustment

50,000.00 Half has already been performed

450,000.00 60% has not yet performed.
100,000.00 All have been performed
20,000.00 1/3 have been performed.
5,000.00 40% has been performed

Unearned service revenue Month-end adjustment

150,000.00 Half has already been performed

50,000.00 70% has not yet performed.
200,000.00 All have been performed
50,000.00 2/3 have been performed.
15,000.00 30% has been performed
Unearned service revenue Month-end adjustment

50,000.00 20% has already been performed

5,000.00 40% has not yet performed.
20,000.00 Half have been performed.
5,000.00 1/3 have been performed.
1,000.00 10% has been performed

Prepayment Amount Period

Rent 120,000.00 3 years
Insurance 48,000.00 2 years
Rent 24,000.00 1 year
Insurance 48,000.00 2 years
Rent 12,000.00 6 months

Prepayment Amount Period

Rent 420,000.00 3 years
Insurance 148,000.00 8 months
Rent 124,000.00 2 years
Insurance 148,000.00 4 years
Rent 112,000.00 1 year

Prepayment Amount Period

Rent 40,000.00 40 months
Insurance 18,000.00 18 months
Rent 14,000.00 1 year
Insurance 14,000.00 2 years
Rent 12,000.00 1 year

Acquisition date Asset Acquisition Salvage value Useful life

cost
January 1,2023 Computer Equipment 450,000.00 0 5 years
June 16,2023 Tables 300,000.00 10,000.00 2 years
December 15,2023 Telephone System 60,000.00 5,000.00 3 years
November 1,2023 Office Equipment 45,000.00 3,000.00 4 years
December 16,2023 Computer Equipment 60,000.00 0 5 years

Acquisition date Asset Acquisition Salvage value Useful life

cost
June 1,2023 Computer Equipment 50,000.00 0 4 years
June 16,2023 Tables 300,000.00 40,000.00 4 years
January 15,2023 Telephone System 610,000.00 15,000.00 2 years
January 1,2023 Office Equipment 415,000.00 35,000.00 5 years
December 15,2023 Computer Equipment 60,000.00 1,000.00 3 years
 Acquisition date Asset Acquisition Salvage value Useful life
cost
June 1,2023 Computer Equipment 150,000.00 10,000.00 3 years
June 16,2023 Tables 300,000.00 40,000.00 5 years
January 15,2023 Telephone System 610,000.00 0 3 years
January 1,2023 Office Equipment 415,000.00 35,000.00 4 years
December 15,2023 Computer Equipment 60,000.00 0 2 years