GENERAL JOURNAL

Date Particulars Ref. Debit Credit

Dec-01 Cash
C. Chan Capital
101 ₱1,000,000.00
301 ₱1,000,000.00
HOM
To record C. Chan investment

Cash 101 200000.00

Notes Payable 202 200000.00
To record cash loan from bank

Permits and License Expense 508 20000.00

Cash 101 20000.00
To record permit and license payment

Prepaid Rent 104 150000.00

Cash 101 150000.00
To record payment for prepaid rent

Dec-03 Account Receivable 102 270000.00

Professionals Fees 401 270000.00
To record renedered service on credit

Office Supplies 103 30000.00

Cash 101 30000.00
To record purchased office supplies

Dec-09 Cash 101 75000.00

Professionals Fees 401 75000.00
To record rendered services

Office Equipment 105 60000.00

Cash 101 60000.00
To record purchased laptop

Dec-14 Cash 101 270000.00

Account Receivable 102 270000.00
To record payment from December 3

Dec-17 C. Chan Drawing 302 100000.00

Cash 101 100000.00
To record C.Chan withdrawals

Dec-21 Represetation Expense 504 50000.00

Acccounts Payable 201 50000.00
To record representation expense
Dec-24 Cash 101 70000.00
Unearned Revenue 103 70000.00
To record advance payment of client

Dec-25 Account Receivable 102 110000.00

Professional Fees 401 110000.00
To record rendered services on credit

Dec-28 Account Receivable 102 40000.00

Professional Fees 401 40000.00
To record rrendered services on credit

Dec-31 Salaries Expense 501 30000.00

Utilities Expense 503 16000.00
Cash 101 46000.00
To record salaries and utilities expense
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 GENERAL LEDGER
Account CASH Number 101
Balance
Date Item Pr Debit Credit Debit
Dec-01 Investment GJ1 ₱1,000,000.00 ₱1,000,000.00
Dec-01 Bank Loan GJ2 200000.00 1200000.00
Dec-01 Permits and Licenses GJ3 20000.00 1180000.00
Dec-01 Prepaid Rent GJ4 150000.00 1030000.00
Dec-03 Office Supplies GJ5 30000.00 1000000.00
Dec-09 Professional Fees GJ6 75000.00 1075000.00
Dec-09 Office Equipment GJ7 60000.00 1015000.00
Dec-14 Account Receivable GJ8 270000.00 1285000.00
Dec-17 C. Chan Drawing GJ9 100000.00 1185000.00
Dec-24 Unearned Revenue GJ10 70000.00 1255000.00
Dec-31 Salaries and utilities Expense GJ11 46000.00 1209000.00
 ₱1,209,000.00
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Account ACCOUNT RECEIVABLE Number 102
Balance ₱150,000.00
Date Item Pr Debit Credit Debit Credit
Dec-03 Cash GJ1 ₱270,000.00 ₱270,000.00
Dec-14 Cash GJ2 270000.00 0.00
Dec-25 Professional fees GJ3 110000.00 110000.00
Dec-28 Professional fees GJ4 40000 150000.00
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Account OFFICE SUPPLIES Number 103
Balance ₱30,000.00
Date Item Pr Debit Credit Debit Credit
Dec-03 Cash GJ1 ₱30,000.00 ₱30,000.00
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Account PREPAID RENT Number 104
Balance ₱150,000.00
Date Item Pr Debit Credit Debit Credit
Dec-01 Cash GJ1 ₱150,000.00 ₱150,000.00
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Account OFFICE EQUIPMENT Number 105
Balance ₱60,000.00
Date Item Pr Debit Credit Debit Credit
Dec-09 Cash GJ1 ₱60,000.00 ₱60,000.00
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Account ACCOUNTS PAYABLE Number 201
Balance ₱50,000.00
Date Item
Dec-21 Representation Expense GJ1
Pr Debit Credit Debit
₱50,000.00
Credit
₱50,000.00
HOM
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Account NOTES PAYABLE Number 202
Balance ₱200,000.00
Date
Dec-01 Cash
Item
GJ1
Pr Debit Credit
₱200,000.00
Debit Credit
₱200,000.00
HOM
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Account UNERNED REVENUE Number 203

Date Item Pr Debit

Balance
Credit Debit
₱70,000.00
Credit
HOME
Dec-24 Cash GJ1 ₱70,000.00 ₱70,000.00
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Account C. CHAN CAPITAL Number 301
Balance ₱1,000,000.00
Date Item Pr Debit Credit Debit Credit
Dec-01 Cash GJ1 ₱1,000,000.00 ₱1,000,000.00
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Account C. CHAN DRAWING Number 302
Balance ₱100,000.00
Date
Dec-17 Cash
Item
GJ1
Pr Debit
₱100,000.00
Credit Debit
₱100,000.00
Credit HO
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Account Professional fees Number 401
Balance ₱495,000.00
Date Item Pr Debit Credit Debit Credit
Dec-03 Account Receivable GJ1 ₱270,000.00 ₱270,000.00
Dec-09 Cash GJ2 75000.00 345000.00
Dec-25 Account Receivable GJ3 110000.00 455000.00
Dec-28 Account Receivable GJ4 40000.00 495000.00
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Account SALARIES EXPENSE Number 501
Balance ₱30,000.00
Date Item
Dec-31 Salaries Expense GJ1
Pr Debit
₱30,000.00
Credit Debit
₱30,000.00
Credit HOM
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Account UTILITIES EXPENSE Number 503
Balance ₱16,000.00
Date Item Pr Debit Credit Debit Credit
Dec-31 Uutilities Expense GJ1 ₱16,000.00 ₱16,000.00
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Account REPRESENTATION EXPENSE Number 504

Date Item Pr Debit Credit

Balance
Debit
₱50,000.00
Credit
HO
Dec-21 Accounts Payable GJ1 ₱50,000.00 ₱50,000.00
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Account PERMITS AND LICENSE EXPENSE Number 508
Balance ₱20,000.00
Date
Dec-01 Cash
Item
GJ1
Pr Debit
₱20,000.00
Credit Debit
₱20,000.00
Credit HOM
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 GENERAL JOUR
CASH ACCOUNT PAYABLE

ACCOUNT RECEIVABLE NOTES PAYABLE

OFFICE SUPPLIES UNEARNED REVENU

PREPAID RENT C. CHAN CAPITAL

OFFICE EQUIPMENT C. CHAN DRAWINGS

 TRIAL BALA
RAL JOURNAL
SFP
CCOUNT PAYABLE PROFESSIONAL FEES

NOTES PAYABLE SALARIES EXPENSE

IS

EARNED REVENUE UTILITIES EXPENSE SOE

. CHAN CAPITAL REPRESENTATION

CHAN DRAWINGS PERMITS AND LISCENCE

TRIAL BALANCE

SFP

IS

SOE

SCF
 CHAN ACCOUNTING FIRM
Trial Balance
Dec-31
ACCOUNTS DEBIT CREDIT
Cash
Account Receivable
₱1,209,000.00
150000.00
HOME
Office Supplies 30000.00
Prepaid Rent 150000.00
Office Equipment 60000.00
Account Payable 50000.00
Notes Payable ₱200,000.00
Unearned Revenue 70000.00
C. Chan Capital 1000000.00
C. Chan Drawings 100000.00
Professional Fees 495000.00
Salaries Expense 30000.00
Utilities Expense 16000.00
Representation Expense 50000.00
Permits and License Expense 20000.00
Total ₱1,815,000.00 ₱1,815,000.00
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