Chart of Accounts

Accounts Sub Accounts Financial Statement

Assets Current Assets Balance Sheet
Assets Fixed Assets Balance Sheet
Liabilities Current Liabilities Balance Sheet
Liabilities Fixed Liabilities Balance Sheet
Equity Equity Balance Sheet
Expenses Expenses Income Statement
Revenue Revenue Income Statement
Revenue Contra Revenue Income Statement
Individual Accounts Sub Accounts Financial Statement
Cash Current Assets Balance Sheet
Accounts Receivable Current Assets Balance Sheet
Architectural Supplies Current Assets Balance Sheet
Office Supplies Current Assets Balance Sheet
Prepaid Insurance Current Assets Balance Sheet
Equipment Non Current Assets Balance Sheet
Accumulated Depreciation - Equipment Contra Asset Balance Sheet
Truck Non Current Assets Balance Sheet
Wages Payable Current Liabilities Balance Sheet
Notes Payable Current Liabilities Balance Sheet
Accounts Payable Current Liabilities Balance Sheet
El Dian, Capital Equity Balance Sheet
El Dian, Drawing Contra Equity Balance Sheet
Architectural Fees Revenue Income Statement
Wages Expense Expenses Income Statement
Telephone Expense Expenses Income Statement
Truck Expense Expenses Income Statement
Insurance Expense Expenses Income Statement
Supplies Expense Expenses Income Statement
Depreciation Expense Expenses Income Statement
Income Statement
Journal Entries
Date Description Account Debit Credit
2-Jan-24 Establishing a business by contributing equipment and cash Cash ₱ 250,000.00
2-Jan-24 Establishing a business by contributing equipment and cash Equipment ₱ 126,500.00
2-Jan-24 Establishing a business by contributing equipment and cash El Dian, Capital ₱ 376,500.00
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Truck ₱ 78,000.00
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Cash ₱ 28,000.00
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Notes Payable ₱ 50,000.00
5-Jan-24 Purchased office supplies on account Office Supplies ₱ 6,500.00
5-Jan-24 Purchased office supplies on account Accounts Payable ₱ 6,500.00
6-Jan-24 Billed the client for a completed design Accounts Receivable ₱ 30,000.00
6-Jan-24 Billed the client for a completed design Architectural Fees ₱ 30,000.00
10-Jan-24 Received cash in designing a house Cash ₱ 25,000.00
10-Jan-24 Received cash in designing a house Architectural Fees ₱ 25,000.00
13-Jan-24 Purchased office supplies in cash Office Supplies ₱ 7,400.00
13-Jan-24 Purchased office supplies in cash Cash ₱ 7,400.00
14-Jan-24 Received cash from client billed on January 6 Cash ₱ 15,000.00
14-Jan-24 Received cash from client billed on January 6 Accounts Receivable ₱ 15,000.00
15-Jan-24 Paid cash for insurance policy with 1 year coverage Prepaid Insurance ₱ 8,000.00
15-Jan-24 Paid cash for insurance policy with 1 year coverage Cash ₱ 8,000.00
16-Jan-24 Invoiced a client for an architectural job Accounts Receivable ₱ 30,000.00
16-Jan-24 Invoiced a client for an architectural job Architectural Fees ₱ 30,000.00
17-Jan-24 Paid the assistant a half of his monthly salary Wages Expense ₱ 10,000.00
17-Jan-24 Paid the assistant a half of his monthly salary Cash ₱ 10,000.00
19-Jan-24 Paid cash to tune up the truck Truck Expense ₱ 1,200.00
19-Jan-24 Paid cash to tune up the truck Cash ₱ 1,200.00
20-Jan-24 Paid office supplies purchased on January 5 Accounts Payable ₱ 6,500.00
20-Jan-24 Paid office supplies purchased on January 5 Cash ₱ 6,500.00
21-Jan-24 Purchased a new equipment and architectural supplies on account Equipment ₱ 24,000.00
21-Jan-24 Purchased a new equipment and architectural supplies on account Architectural Supplies ₱ 6,000.00
21-Jan-24 Purchased a new equipment and architectural supplies on account Accounts Payable ₱ 30,000.00
23-Jan-24 Received a telephone bill due next month Telephone Expense ₱ 3,200.00
23-Jan-24 Received a telephone bill due next month Accounts Payable ₱ 3,200.00
24-Jan-24 Received cash from client billed on January 16 Cash ₱ 16,600.00
24-Jan-24 Received cash from client billed on January 16 Accounts Receivable ₱ 16,600.00
26-Jan-24 Received cash for an architectural design in an apartment Cash ₱ 7,500.00
26-Jan-24 Received cash for an architectural design in an apartment Architectural Fees ₱ 7,500.00
28-Jan-24 Paid cash on the note signed for the truck Notes Payable ₱ 20,000.00
28-Jan-24 Paid cash on the note signed for the truck Cash ₱ 20,000.00
29-Jan-24 Paid the assistant a half of his monthly salary Wages Expense ₱ 10,000.00
29-Jan-24 Paid the assistant a half of his monthly salary Cash ₱ 10,000.00
30-Jan-24 Withdrawal of cash for personal use El Dian, Drawing ₱ 22,000.00
30-Jan-24 Withdrawal of cash for personal use Cash ₱ 22,000.00
Cash
Date Account
2-Jan-24 Cash
El Dian, Capital
Equipment
4-Jan-24 Cash
Notes Payable
Truck
5-Jan-24 Accounts Payable
Office Supplies
6-Jan-24 Accounts Receivable
Architectural Fees
10-Jan-24 Architectural Fees
Cash
13-Jan-24 Cash
Office Supplies
14-Jan-24 Accounts Receivable
Cash
15-Jan-24 Cash
Prepaid Insurance
16-Jan-24 Accounts Receivable
Architectural Fees
17-Jan-24 Cash
Wages Expense
19-Jan-24 Cash
Truck Expense
20-Jan-24 Accounts Payable
Cash
21-Jan-24 Accounts Payable
Architectural Supplies
Equipment
23-Jan-24 Accounts Payable
Telephone Expense
24-Jan-24 Accounts Receivable
Cash
26-Jan-24 Architectural Fees
Cash
28-Jan-24 Cash
Notes Payable
29-Jan-24 Cash
Wages Expense
30-Jan-24 Cash
El Dian, Drawing
Total Result
Current Assets
Data
Description Sum of Debit
Establishing a business by contributing equipment and cash ₱ 250,000.00
Establishing a business by contributing equipment and cash
Establishing a business by contributing equipment and cash ₱ 126,500.00
Purchased a used truck in cash and signed a note for the balance
Purchased a used truck in cash and signed a note for the balance
Purchased a used truck in cash and signed a note for the balance ₱ 78,000.00
Purchased office supplies on account
Purchased office supplies on account ₱ 6,500.00
Billed the client for a completed design ₱ 30,000.00
Billed the client for a completed design
Received cash in designing a house
Received cash in designing a house ₱ 25,000.00
Purchased office supplies in cash
Purchased office supplies in cash ₱ 7,400.00
Received cash from client billed on January 6
Received cash from client billed on January 6 ₱ 15,000.00
Paid cash for insurance policy with 1 year coverage
Paid cash for insurance policy with 1 year coverage ₱ 8,000.00
Invoiced a client for an architectural job ₱ 30,000.00
Invoiced a client for an architectural job
Paid the assistant a half of his monthly salary
Paid the assistant a half of his monthly salary ₱ 10,000.00
Paid cash to tune up the truck
Paid cash to tune up the truck ₱ 1,200.00
Paid office supplies purchased on January 5 ₱ 6,500.00
Paid office supplies purchased on January 5
Purchased a new equipment and architectural supplies on account
Purchased a new equipment and architectural supplies on account ₱ 6,000.00
Purchased a new equipment and architectural supplies on account ₱ 24,000.00
Received a telephone bill due next month
Received a telephone bill due next month ₱ 3,200.00
Received cash from client billed on January 16
Received cash from client billed on January 16 ₱ 16,600.00
Received cash for an architectural design in an apartment
Received cash for an architectural design in an apartment ₱ 7,500.00
Paid cash on the note signed for the truck
Paid cash on the note signed for the truck ₱ 20,000.00
Paid the assistant a half of his monthly salary
Paid the assistant a half of his monthly salary ₱ 10,000.00
Withdrawal of cash for personal use
Withdrawal of cash for personal use ₱ 22,000.00
₱ 703,400.00
 This shape represents a slicer. Slicers
Sum of Credit are supported in Excel 2010 or later.

₱ 376,500.00 If the shape was modified in an earlier

version of Excel, or if the workbook
was saved in Excel 2003 or earlier, the
₱ 28,000.00
slicer cannot be used.
₱ 50,000.00

₱ 6,500.00

₱ 30,000.00
₱ 25,000.00

₱ 7,400.00

₱ 15,000.00

₱ 8,000.00

₱ 30,000.00
₱ 10,000.00

₱ 1,200.00

₱ 6,500.00
₱ 30,000.00

₱ 3,200.00

₱ 16,600.00

₱ 7,500.00

₱ 20,000.00

₱ 10,000.00

₱ 22,000.00

₱ 703,400.00
 El Dian Architectural Services
Unadjusted Trial Balance
For the Month of January 2024

Data
Account Sum of Debit Sum of Credit
Accounts Payable ₱ 6,500.00 ₱ 39,700.00
Accounts Receivable ₱ 60,000.00 ₱ 31,600.00
Architectural Fees ₱ 92,500.00
Architectural Supplies ₱ 6,000.00
Cash ₱ 314,100.00 ₱ 113,100.00
El Dian, Capital ₱ 376,500.00
El Dian, Drawing ₱ 22,000.00
Equipment ₱ 150,500.00
Notes Payable ₱ 20,000.00 ₱ 50,000.00
Office Supplies ₱ 13,900.00
Prepaid Insurance ₱ 8,000.00
Telephone Expense ₱ 3,200.00
Truck ₱ 78,000.00
Truck Expense ₱ 1,200.00
Wages Expense ₱ 20,000.00
Total Result ₱ 703,400.00 ₱ 703,400.00
Journal Entries
Date Description Account
2-Jan-24 Establishing a business by contributing equipment and cash Cash
2-Jan-24 Establishing a business by contributing equipment and cash Equipment
2-Jan-24 Establishing a business by contributing equipment and cash El Dian, Capital
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Truck
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Cash
4-Jan-24 Purchased a used truck in cash and signed a note for the balance Notes Payable
5-Jan-24 Purchased office supplies on account Office Supplies
5-Jan-24 Purchased office supplies on account Accounts Payable
6-Jan-24 Billed the client for a completed design Accounts Receivable
6-Jan-24 Billed the client for a completed design Architectural Fees
10-Jan-24 Received cash in designing a house Cash
10-Jan-24 Received cash in designing a house Architectural Fees
13-Jan-24 Purchased office supplies in cash Office Supplies
13-Jan-24 Purchased office supplies in cash Cash
14-Jan-24 Received cash from client billed on January 6 Cash
14-Jan-24 Received cash from client billed on January 6 Accounts Receivable
15-Jan-24 Paid cash for insurance policy with 1 year coverage Prepaid Insurance
15-Jan-24 Paid cash for insurance policy with 1 year coverage Cash
16-Jan-24 Invoiced a client for an architectural job Accounts Receivable
16-Jan-24 Invoiced a client for an architectural job Architectural Fees
17-Jan-24 Paid the assistant a half of his monthly salary Wages Expense
17-Jan-24 Paid the assistant a half of his monthly salary Cash
19-Jan-24 Paid cash to tune up the truck Truck Expense
19-Jan-24 Paid cash to tune up the truck Cash
20-Jan-24 Paid office supplies purchased on January 5 Accounts Payable
20-Jan-24 Paid office supplies purchased on January 5 Cash
21-Jan-24 Purchased a new equipment and architectural supplies on account Equipment
21-Jan-24 Purchased a new equipment and architectural supplies on account Architectural Supplies
21-Jan-24 Purchased a new equipment and architectural supplies on account Accounts Payable
23-Jan-24 Received a telephone bill due next month Telephone Expense
 23-Jan-24 Received a telephone bill due next month Accounts Payable
24-Jan-24 Received cash from client billed on January 16 Cash
24-Jan-24 Received cash from client billed on January 16 Accounts Receivable
26-Jan-24 Received cash for an architectural design in an apartment Cash
26-Jan-24 Received cash for an architectural design in an apartment Architectural Fees
28-Jan-24 Paid cash on the note signed for the truck Notes Payable
28-Jan-24 Paid cash on the note signed for the truck Cash
29-Jan-24 Paid the assistant a half of his monthly salary Wages Expense
29-Jan-24 Paid the assistant a half of his monthly salary Cash
30-Jan-24 Withdrawal of cash for personal use El Dian, Drawing
30-Jan-24 Withdrawal of cash for personal use Cash

Adjusting Entries
31-Jan-24 Unexpired Insurance at January 31 Insurance Expense
31-Jan-24 Unexpired Insurance at January 31 Prepaid Insurance
31-Jan-24 Office Supplies used during the month Supplies Expense
31-Jan-24 Office Supplies used during the month Office Supplies
31-Jan-24 Depreciation of equipment for January Depreciation Expense
31-Jan-24 Depreciation of equipment for January Accumulated Depreciation - Equipment
31-Jan-24 Accrued wages at January 31 Wages Expense
31-Jan-24 Accrued wages at January 31 Wages Payable
31-Jan-24 Fees earned but unbilled on January 31 Accounts Receivable
31-Jan-24 Fees earned but unbilled on January 31 Architectural Fees
Debit Credit
₱ 250,000.00
₱ 126,500.00
₱ 376,500.00
₱ 78,000.00
₱ 28,000.00
₱ 50,000.00
₱ 6,500.00
₱ 6,500.00
₱ 30,000.00
₱ 30,000.00
₱ 25,000.00
₱ 25,000.00
₱ 7,400.00
₱ 7,400.00
₱ 15,000.00
₱ 15,000.00
₱ 8,000.00
₱ 8,000.00
₱ 30,000.00
₱ 30,000.00
₱ 10,000.00
₱ 10,000.00
₱ 1,200.00
₱ 1,200.00
₱ 6,500.00
₱ 6,500.00
₱ 24,000.00
₱ 6,000.00
₱ 30,000.00
₱ 3,200.00
 ₱ 3,200.00
₱ 16,600.00
₱ 16,600.00
₱ 7,500.00
₱ 7,500.00
₱ 20,000.00
₱ 20,000.00
₱ 10,000.00
₱ 10,000.00
₱ 22,000.00
₱ 22,000.00

₱ 2,900.00
₱ 2,900.00
₱ 1,500.00
₱ 1,500.00
₱ 2,200.00
₱ 2,200.00
₱ 2,000.00
₱ 2,000.00
₱ 4,900.00
₱ 4,900.00
 El Dian Architectural Company
Adjusted Trial Balance
For the Month of January 2024

Data
Account Sum of Debit Sum of Credit
Accounts Payable ₱ 6,500.00 ₱ 39,700.00
Accounts Receivable ₱ 64,900.00 ₱ 31,600.00
Accumulated Depreciation - Equipment ₱ 2,200.00
Architectural Fees ₱ 97,400.00
Architectural Supplies ₱ 6,000.00
Cash ₱ 314,100.00 ₱ 113,100.00
Depreciation Expense ₱ 2,200.00
El Dian, Capital ₱ 376,500.00
El Dian, Drawing ₱ 22,000.00
Equipment ₱ 150,500.00
Insurance Expense ₱ 2,900.00
Notes Payable ₱ 20,000.00 ₱ 50,000.00
Office Supplies ₱ 13,900.00 ₱ 1,500.00
Prepaid Insurance ₱ 8,000.00 ₱ 2,900.00
Supplies Expense ₱ 1,500.00
Telephone Expense ₱ 3,200.00
Truck ₱ 78,000.00
Truck Expense ₱ 1,200.00
Wages Expense ₱ 22,000.00
(empty)
Total Result ₱ 716,900.00 ₱ 716,900.00
 El Dian Company
Income Statement
For the month of January 2024

Account Debit Credit

Architectural Fees ₱ 97,400.00
Less: Operating Expenses
Supplies Expense ₱ 1,500.00
Telephone Expense ₱ 3,200.00
Truck Expense ₱ 1,200.00
Wages Expense ₱ 22,000.00
Insurance Expense ₱ 2,900.00
Depreciation Expense ₱ 2,200.00
Total Operating Income ₱ 33,000.00
Operating Income ₱ 64,400.00
 El Dian Company
Balance Sheet
For the month of January 2024

Asset Liabilities & Equity

Current Assets: Current Liabilities:

Cash ₱ 201,000.00 Accounts Payable ₱ 33,200.00
Accounts Receivable ₱ 33,300.00 Wages Payable ₱ 2,000.00
Prepaid Insurance ₱ 5,100.00 Total Current Libilities ₱ 35,200.00
Architectural Supplies ₱ 6,000.00
Office Supplies ₱ 12,400.00 Noncurrent Liabilities:
Total Current Assets: ₱ 257,800.00 Notes Payable ₱ 30,000.00

Noncurrent Assets: Equity:

Equipment ₱ 150,500.00 El Dian, Drawing -₱ 22,000.00
Accumulated Depreciation - Equipment-₱ 2,200.00 El Dian, Capital ₱ 376,500.00
Truck ₱ 78,000.00 Retained Earnings ₱ 64,400.00
Total Noncurrent Assets ₱ 226,300.00 Total Equity ₱ 418,900.00

Total Assets ₱ 484,100.00 Total Liabilities & Equities: ₱ 484,100.00

Closing Entries
Date Account Debit Credit
31-Jan-24 Architectural Fees ₱ 97,400.00
31-Jan-24 Income Summary ₱ - ₱ 97,400.00
31-Jan-24 Income Summary ₱ 33,000.00 ₱ -
31-Jan-24 Supplies Expense ₱ - ₱ 1,500.00
31-Jan-24 Telephone Expense ₱ - ₱ 3,200.00
31-Jan-24 Truck Expense ₱ - ₱ 1,200.00
31-Jan-24 Wages Expense ₱ - ₱ 22,000.00
31-Jan-24 Insurance Expense ₱ - ₱ 2,900.00
31-Jan-24 Depreciation Expense ₱ 2,200.00
31-Jan-24
 El Dian Company
Post-Closing Trial Balance
For the month of Janurary 2024

Accounts Debit Credit

Cash ₱ 201,000.00
Accounts Receivable ₱ 33,300.00
Prepaid Insurance ₱ 5,100.00
Architectural Supplies ₱ 6,000.00
Office Supplies ₱ 12,400.00
Accumulated Depreciation -Office Equipment ₱ 2,200.00
Equipment ₱ 150,500.00
Truck ₱ 78,000.00
Accounts Payable ₱ 33,200.00
Notes Payable ₱ 30,000.00
Wages Payable ₱ 2,000.00
El Dian, Capital ₱ 376,500.00
El Dian, Drawings ₱ 22,000.00
Retained Earnings ₱ 64,400.00
Grand Total ₱ 508,300.00 ₱ 508,300.00