Dr. A.

H Wan Cosmetic

Chart of account
Asset Liabilities Capital Revenue
Cash Accounts Payable Wan, Capital Professional fees
Accounts Receivable Notes Payable Wan, Drawing
Supplies
Equipment

Jan. 01 Dr. Wan Invest cash of P100,000 and Supplies of P20,000.

2 Purchase for cash supplies worth P5,000.
4 Bought worth P55,000 cosmetic equipment on account .
6 Receive check for professional service worth P13,500.
8 Paid Meralco and Nawasa worth P8,790.
10 Paid check payable for advertising expense P2,100.
12 Return supplies worth P820.
14 Sent billing to clients amounting P32,100 for service rendered.
15 Paid salaries of employees P15,200.
16 The owner withdrew P3,500 for personal use.
18 Paid miscellaneous expense P545.
20 Paid creditor half of amount from jan 4.
22 Purchase equipment worth P105,000 paid cash P20,000 and the remaining is promisory note.
24 Renderes service to clients on account P20,900.
26 Collect to customer from jan 14.
27 Return defective equipment worth P3,000 from jan 22. to be deduct from account balance.
29 Paid rent for the month P7,100
30 Paid equipment from promisory note P26,500
31 Supplies consumed during the period P18,030.
 Expenses
Salaries Expense
Rent Expense
Utilities Expense
Advertising expense
Miscellaneous Expense
Supplies expense

ing is promisory note.

m account balance.
 Month Date Account DR CR
Jan. 1 Cash 100,000.00
Supplies 20,000.00
Capital 120,000.00
2 Supplies 5,000.00
Cash 5,000.00
4 Equipment 55,000.00
Accounts Payable 55,000.00
6 Cash 13,500.00
Professional Fee 13,500.00
8 Utilities Expense 8,790.00
Cash 8,790.00
10 Advertising Expense 2,100.00
Cash 2,100.00
12 Cash 820.00
Supplies 820.00
14 Accounts Receivable 32,100.00
Professional Fee 32,100.00
15 Salaries Expense 15,200.00
Cash 15,200.00
16 Drawing 3,500.00
Cash 3,500.00
18 Miscellaneous Expense 545.00
Cash 545.00
20 Accounts Payable 27,500.00
Cash 27,500.00
22 Equipment 105,000.00
Cash 20,000.00
Notes Payable 85,000.00
24 Accounts Receivable 20,900.00
Professional Fee 20,900.00
26 Cash 32,100.00
Accounts Receivable 32,100.00
27 Notes Payable 3,000.00
Equipment 3,000.00
29 Rent Expense 7,100.00
Cash 7,100.00
30 Notes Payable 26,500.00
Cash 26,500.00
31 Supplies Expense 18,030.00
Capital 18,030.00
4,180.00
Asset Liabilities Capital

Cash Accounts Payable Wan, Capital

100,000.00 5,000.00 27,500.00 55,000.00 120,000.00
13,500.00 8,790.00 18,030.00
820.00 2,100.00 27,500.00 138,030.00
32,100.00 15,200.00
3,500.00 Notes Payable Wan, Drawing
545.00 3,000.00 85,000.00 3,500.00
27,500.00 26,500.00
20,000.00
7,100.00 29,500.00 85,000.00
26,500.00 55,500.00

146,420.00 116,235.00
30,185.00

Accounts Receivable
32,100.00 32,100.00
20,900.00

53,000.00 32,100.00
20,900.00

Supplies
20,000.00 820.00
5,000.00

25,000.00 820.00
24,180.00

Equipment
55,000.00 3,000.00
105,000.00

160,000.00 3,000.00
157,000.00
Revenue Expenses

Professional fees Salaries Expense

13,500.00 15,200.00
32,100.00
20,900.00 Rent Expense
7,100.00
66,500.00
Utilities Expense
8,790.00

Advertising expense
2,100.00

Miscellaneous Expense
545.00

Supplies expense
18,030.00
 Dr. A.H Wan Cosmetic
Trail balance
For the Month of Jan. 2022

Accounts DR CR
Cash 30,185.00
Accounts Receivable 20,900.00
Supplies 24,180.00
Equipment 157,000.00
Accounts Payable 27,500.00
Notes Payable 55,500.00
Wan, Capital 138,030.00
Wan, Drawing 3,500.00
Professional fees 66,500.00
Salaries Expense 15,200.00
Rent Expense 7,100.00
Utilities Expense 8,790.00
Advertising expense 2,100.00
Miscellaneous Expense 545.00
Supplies expense 18,030.00
287,530.00 287,530.00
 Dr. A.H Wan Cosmetic
Statement of Comprehensive Income
For the Month of Jan. 2022

Professional Fees 66,500.00

Less: Operating Expense
Salaries Expense 15,200.00
Rent Expense 7,100.00
Utilities Expense 8,790.00
Advertising expense 2,100.00
Miscellaneous Expense 545.00
Supplies expense 18,030.00
Total Operating Expense 51,765.00
Net Income 14,735.00

Dr. A.H Wan Cosmetic

Statement of Owner's Equity
For the Month of Jan. 2022

Wan, Capital, Jan. 01, 2022 0.00

Add: Investment 120,000.00
Net income 14,735.00
Total 134,735.00
Less: Withdrawals 3,500.00
Wan, Capital, Jan. 31, 2022 131,235.00

Dr. A.H Wan Cosmetic

Statement of Financial Position
For the Month of Jan. 2022

Assets Liabilities & Capital

Cash 30,185.00 Accounts Payable 27,500.00
Accounts Receivable 20,900.00 Notes Payable 55,500.00
Supplies 6,150.00 Wan, Capital 131,235.00
Equipment 157,000.00
214,235.00 214,235.00
Please See notes of Supplies and Capital

Dr. A.H Wan Cosmetic

Statement of Cash Flows
For the Month of Jan. 2022
Cash flows from Operating Activities:
Cash received from Customers 13,500.00
Cash collection from Credit Customers 32,100.00
Cash paid for expenses -33,735.00
Cash paid for supplies -4,180.00
Net Cash provided by the operating activities 7,685.00
Cash flows from Investing Activities:
Cash paid fro equipment -74,000.00
Cash flows from Financing Activities:
Cash investment by owner 100,000.00
Cash withdrawal by owner -3,500.00
96,500.00
Increase In cash 30,185.00
Cash Balance, Jan. 01, 2022 0.00
Cash Balance, Jan. 31, 2022 30,185.00
No capital from previous year because newly open
must be balance to cash of your trial Balance