Ballada p.

3-6 2nd Step

Initial investment (Source of Assets)
Debit
May-01 Cash (A) 250,000
Ballada, Capital (OE)

Rent payment in advance (Exchange of asset)

Prepaid rent (A) 8,000
Cash (A)

May -2 Note issued for Cash (Source of Assets)

Cash (A) 210,000
Notes Payable (L)

May -4 Service Vehicle acquired for Cash (Exchange of Assets)

Service Vehicle (A) 420,000
Cash (A)

Insurance premiums paid (Exchange of Assets)

Prepaid Insurance (A) 14,400
Cash (A)

May -5 Office Equipment acquired on account

Office Equipment (A) 60,000
Cash (A)
Accounts Payable (L)

May -8 Supplies purchased on account (Source of Assets)

Supplies (A) 18,000
Accounts payable (L)

May -9 Accounts Payable partially settled (Use of Assets)

Accounts Payable (L) 10,000
Cash (A)

May -10 Revenues earned and Cash collected (Source of Assets)

Cash (A) 26,400
Consulting Revenues (OE: I)

May -13 Salaries paid (Use of Assets)

Salaries expense (OE:E) 6,600
Cash (A)

May -15 Unearned Revenues collected (Source of Assets)

Cash (A) 10,000
 Unearned Referral Revenues (L)

May -19 Revenues Earned on Account (Source of Assets)

Accounts Receivable (A) 36,000
Consulting Revenues (OE:I)

May -25 Withdrawal of Cash by Owner (Use of Assets)

Ballada, Withdrawals (OE) 14,000
Cash (A)

May -27 Salaries Paid (Use of Assets)

Salaries expense (OE:E) 7,200
Cash (A)

May -30 Expenses Incurred but Unpaid (Exchange of Claims)

Utilities expense (OE:E) 1,400
Utilities payable (L)

Accounts Receivable partially collected (Exchange of Assets)

Cash (A) 24,000
Accounts Receivable (A)

May -31 Expenses Incurred and Paid (Use of Assets)

Utilities expense (OE:E) 3,000
Cash (A)

BSA 1A - p.3-44 Prob #6 Activity #1

BSA 1A - p.3-46 Prob #8 Quiz

Cash
a) 180,000 4,620
j) 6,900 7,400
m) 2,420 990
1,800
910
3,260
5,000
8,250
11,500
189,320 43,730
145,590

Accounts Receivable
 g) 16,120 6,900
9,220

Office Equipment
c) 3,260
d) 4,620
e) 15,400
23,280

Medical Equipment
b) 72,000

Cagayan Chiropractic Clinic

Trial Balance
June 30, 2024

Cash 145,590
Accounts Receivable 9,220
Office Equipment 23,280
Medical Equipment 72,000
Accounts Payable
Gamolo, Capital
Gamolo, Withdrawals 11,500
Service Revenues
Salaries Expense 8,250
Rent Expense 5,000
Utilities Expense 1,900
Miscellaneous Expenses 1,800
278,540

J. E.
a) Cash 180,000
Gamolo, Capital

b) Medical equipment 72,000

Gamolo, Capital

c) Office equipment 3,260

Accounts Payable
 d) Office equipment 4,620
Cash

e) Office equipment 15,400

Cash
Accounts Payable

f) Utilities Expense 990

Cash

g) Accounts Receivable 16,120

Service Revenues

h) Misc. Expense 1,800

Cash

i) Utilities Expense 910

Cash

j) Cash 6,900
Accounts Receivable

k) Accounts Payable 3,260

Cash

l) Rent Expense 5,000

Cash

m) Cash 2,420
Service Revenues

n) Salaries Expense 8,250

Cash

o) Gamolo, Withdrawals 11,500

Cash

Problem #14 p2-48 (Ballada)

 a) Cash 200,000
Albay, Capital
Initial investment by T. Albay to her eye clinic.

b) Rent expense 8,400

Cash

c) Supplies 7,750
Cash

d) Office equipment 91,800

Accounts payable

e) Office equipment 18,400

Cash
Accounts payable

f) Cash 24,210
Professional fee/Albay, Capital

g) Accounts payable 9,000

Cash

h) Utilities expense 2,430

Cash

i) Salaries expense 9,900

Cash

j) Cash 25,150
Professional fee

k) Albay, Drawings 12,500

Cash

Problem #7 p6-20 (Ballada)

2023 Dec 1 Cash 150,000

Detoya, Capital 150,000

2 Rent Expense 8,000

Cash 8,000

Supplies (A) 7,200

 Accounts Payable 7,200

3 Office equipment 75,000

Cash 37,000
Accounts Payable 38,000

8 Accounts Payable 7,200

Cash 7,200

14 Salaries Expense 6,000

Cash 6,000

20 Cash 20,000
Consulting Revenues 20,000

28 Salaries Expense 6,000

Cash 6,000

30 Accounts Receivable 48,000

Consulting Revenues 48,000

31 Detoya, Withdrawals 12,000

Cash 12,000

AJE
not reverse a) Supplies Expense 2,500
Supplies 2,500

for reversal b) Salaries Expense 1,800

Salaries Payable 1,800

c) Depreciation Expense 800

Accum Depreciation 800

for reversal d) Fees Receivable 10,000

Consulting Revenues 10,000

CLOSING ENTRIES
Consulting Revenues 78,000
Salaries 13,800
Supplies 2,500
Rent 8,000
 Depreciation 800
Income Summary 52,900

Income Summary 52,900

Detoya, Capital 52,900

Detoya, Capital 12,000

Detoya, Withdrawals 12,000
 3rd Step
Cash
Credit May-01 250,000 8,000 May-01
2 210,000 420,000 4
250,000 10 26,400 14,400 4
15 10,000 15,000 5
30 24,000 10,000 9
6,600 13
8,000 14,000 25
7,200 27
3,000 31
520,400 498,200
210,000 Balance 22,200
Accounts Receivable
nge of Assets) May 19 36,000 24,000 May 30
Balance 12,000
420,000 Supplies
May 8 18,000

Prepaid Rent
14,400 May 1 8,000

Prepaid Insurance
May 4 14,400
15,000
45,000 Service Vehicle
May 4 420,000

Office equipment
18,000 May 5 60,000

10,000

urce of Assets)

26,400

6,600
 10,000

36,000

14,000

7,200

of Claims)

1,400

Exchange of Assets)

24,000

3,000

Accounts Payable Service Revenues

d) k) 3,260 3,260 c)
e) 8,000 e)
f) 3,260 11,260
h) 8,000
i)
k)
l) Gamolo, Capital Salaries Expense
n) 180,000 a) n) 8,250
o) 72,000 b)
252,000
 j)

Gamolo, Withdrawals Rent Expense

o) 11,500 l) 5,000

linic

8,000
252,000

18,540

278,540

180,000

72,000

3,260
 4,620

7,400
8,000

990

16,120

1,800

910

6,900

3,260

5,000

2,420

8,250

11,500
200,000

8,400

7,750

91,800

6,000
12,400

24,210

9,000

2,430

9,900

25,150

12,500

Cash Accounts Payable

12/01 150,000 8,000 12/02 12/08 7,200
12/20 20,000 37,000 12/03
7,200 12/08
6,000 12/14
6,000 12/28
12,000 12/31 Salaries Payable
170,000 76,200
 93,800
Accounts Receivable
12/30 48,000
Detoya, Capital

Fees Receivable
AJE d) 10,000
Detoya, Withdrawals
12/31 12,000

Supplies
12/02 7,200 2,500 AJE a)
Income Summary

Office Equipment
12/03 75,000

Accum Dep -Office Equip

800 AJE c)
 4th Step
Notes Payable
210,000 May 2

Accounts Payable
May 9 10,000 45,000 May 5 Cash
18,000 8 Accounts Receivable
10,000 63,000 Supplies
53,000 Balance Prepaid Rent
Utilities Payable Prepaid Insurance
1,400 May 30 Service Vehicle
Office Equipment
Unearned Referral Revenues Notes Payable
10,000 May 15 Accounts Payable
Utilities Payable
Ballada, Capital Unearned Referral Reven
250,000 May 1 Ballada, Capital
Ballada, Withdrawals
Ballada, Withdrawals Consulting Revenues
May 25 14,000 Salaries Expense
Utilities Expense
Consulting Revenues
26,400 May 10
36,000 19
62,400 Balance

Salaries expense
May 13 6,600
27 7,200
Balance 13,800
Utilities expense
May 30 1,400
31 3,000
Balance 4,400
Service Revenues Utilities Expense
16,120 g) f) 990
2,420 m) i) 910
18,540 1900

Salaries Expense Misc. Expense

h) 1,800
Rent Expense
Accounts Payable Consulting Revenues
7,200 12/02 20,000 12/20
38,000 12/03 48,000 12/30
68,000
38,000 10,000 AJE d)

Salaries Payable Salaries Expense

1,800 AJE b) 12/14 6,000
 12/28 6,000
12,000
AJE b) 1,800
Detoya, Capital Supplies Expense
150,000 12/01 AJE a) 2,500

Detoya, Withdrawals Rent Expense

12/02 8,000

De

Income Summary Depreciation Expense For the mon

AJE c) 800 Revenues

Expenses

Profit

De
Statem
For the mon
Detoya, Capital 12/1/23
Add: Profit
Total
Less: Withdrawals
Detoya, Capital 12/31/23

De

Current Assets

Property and Equipment (

Total Assets

Current Liabilities

Detoya, Capital 12/31/23

Total Liabilities and Owne

De
Sta
For the mo
Cash Flows from Operatin

Cash Flows from Investing

Cash Flows from Financin

Cash balance at the end o

 Weddings R Us
Trial Balance
May 31, 2023
Dr Cr
22,200
ccounts Receivable 12,000
18,000
repaid Rent 8,000
repaid Insurance 14,400
ervice Vehicle 420,000
Office Equipment 60,000
otes Payable ###
ccounts Payable ###
tilities Payable ###
nearned Referral Revenues ###
allada, Capital ###
allada, Withdrawals 14,000
onsulting Revenues ###
alaries Expense 13,800
tilities Expense 4,400
586,800
###
 Unadjusted Trial Balance Adjustments
Dr Cr Dr Cr
Cash 93,800
Accounts Receivable 48,000
Fees Receivable 0 d) 10,000
Supplies 7,200 2,500 a)
Office Equipment 75,000
Accumulated Depreciation 800 c)
Accounts Payable 38,000
Salaries Payable 0 1,800 b)
 Detoya, Capital 150,000
Detoya, Withdrawals 12,000
Income Summary
Consulting Revenues 68,000 10,000 d)
Salaries Expense 12,000 b) 1,800
Supplies Expense 0 a) 2,500
Rent Expense 8,000
Depreciation Expense 0 c) 800
256,000 256,000 15,100 15,100
Profit

Detoya Tax Consultant

Income Statement
For the month ended December 31, 2023

Consulting Revenues 78,000

Salaries 13,800
Supplies 2,500
Rent 8,000
Depreciation 800 25,100
52,900

Detoya Tax Consultant

Statement of changes in Equity
For the month ended December 31, 2023
Detoya, Capital 12/1/23 150,000
52,900
202,900
ess: Withdrawals -12,000
Detoya, Capital 12/31/23 190,900

Detoya Tax Consultant

Balance Sheet
December 31, 2023
ASSETS
urrent Assets
Cash 93,800
Accounts Receivable 48,000
Fees Receivable 10,000
Supplies 4,700
Total Current Assets 156,500
roperty and Equipment (net)
Office Equipment 75,000
Accumulated depreciation -800 74,200
 otal Assets 230,700
LIABILITIES
urrent Liabilities
Accounts Payable 38,000
Salaries Payable 1,800
Total Current Liabilities 39,800
OWNER'S EQUITY
Detoya, Capital 12/31/23 190,900
otal Liabilities and Owner's Equity 230,700

Detoya Tax Consultant

Statement of Cash Flows
For the month ended December 31, 2023
ash Flows from Operating Activities
Cash received from clients 20,000
Payments to suppliers -7,200
Payments to employees -12,000
Payments for office rent -8,000
Net cash used in operating activities -7,200
ash Flows from Investing Activities
Payment to purchase office equipment -37,000
ash Flows from Financing Activities
Cash received as investment by owner 150,000
Payment for withdrawals -12,000
Net cash provided by financing activities 138,000
ash balance at the end of the period, 12/31/23 93,800
Adjusted Trial Balance Income Statement Balance Sheet Closing Entries
Dr Cr Dr Cr Dr Cr Dr
93,800 93,800
48,000 48,000
10,000 10,000
4,700 4,700
75,000 75,000
800 800
38,000 38,000
1,800 1,800
 150,000 150,000 12,000
12,000 12,000
52,900
78,000 78,000 78,000
13,800 13,800
2,500 2,500
8,000 8,000
800 800
268,600 268,600 25,100 78,000 243,500 190,600 142,900
52,900 52,900
78,000 78,000 243,500 243,500 142,900
Closing Entries Post Closing TB
Cr Dr Cr
93,800
48,000
10,000
4,700
75,000
800
38,000
1,800
 52,900 190,900
12,000
52,900

13,800
2,500
8,000
800
142,900 231,500 231,500

142,900 231,500 231,500