Smart Merchandising Company

Trial Balance
For the Year ended December 31, 2012

Account Title
Cash
Accounts Receivable
Allowance for Bad Debts
Merchandise Inventory
Store Supplies
Office Equipment
Accumulated Depreciation Office Equipment
Store Furniture and Fixtures Accumulated Depreciation Store Furniture/Fixtures
Accounts Payable
Notes Payable
SSS Premium Payable
Withholding Taxes Payable
Philhealth Premium Payable
Tippie, Capital
Tippie, Drawing
Sales
Sales Returns and Allowances
Purchases
Purchase Returns & Allowances
Purchase Discount
Freight in
Rent Income
Salaries Expense
Insurance Expense
Interest Expense
Total

Trial
Balance
Debit
Credit
15,846.00
22,431.00
1,000.00
60,869.00
835.00
18,512.00

AJE
Debit

Credit

7,200.00
4,800.00
960.00
4,000.00
12,000.00
411.00
350.00
650.00
68,326.00
3,750.00
325,250.00
4,792.00
259,237.00
6,670.00
3,867.00
12,312.00
1,500.00
27,650.00
764.00
386.00
432,184.00

432,184.00

Trial

Balance

Balance
Debit

Sheet
Credit

Income Statement
Debit
Credit

NAME OF STUDENT: ______________________________________

CLASS SCHEDULE:______________________________
PART II. SET A PROBLEM
The trial balance of Smart Dreams Service Company at December 31, 2012, the
Yolie Company
Trial Balance
For the Year ended December 31, 2012
Trial
Account Title
Debit
Cash
396,000.00
Accounts Receivable
740,000.00
Supplies
12,000.00
Furnitures and fixtures
200,000.00
Accumulated depreciation Furnitures and fixtures
Building
500,000.00
Accumulated depreciation - Bldg.
Accounts Payable
Salary Payable
Unearned Service Revenue
Fred Santos, Capital
Fred Santos, Withdrawals
130,000.00
Service Revenue
Salary Expense
344,000.00
Supplies Expense
Depreciation Expense - Furn & Fix
Depreciation Expense - building
Miscellaneous Expense
26,000.00
2,348,000.00

Account Title
Cash
Accounts Receivable
Supplies
Furnitures and fixtures
Accumulated depreciation Furnitures and fixtures
Building
Accumulated depreciation - Bldg.
Accounts Payable
Salary Payable
Unearned Service Revenue
Fred Santos, Capital
Fred Santos, Withdrawals
Service Revenue
Salary Expense
Supplies Expense
Depreciation Expense - Furn & Fix
Depreciation Expense - building
Miscellaneous Expense

Trial
Debit
396,000.00
740,000.00
12,000.00
200,000.00

500,000.00

130,000.00
344,000.00

26,000.00
2,348,000.00

__________

DATE: _____________________
SCORE: ____________________

any at December 31, 2012, the end of its fiscal year, is presented below:

31, 2012
Balance
Credit

80,000.00

Date needed for the adjusting entries include:

a.)
b.)
c.)
d.)
e.)
f.)

260,000.00
760,000.00
90,000.00
586,000.00

1.)

572,000.00

2.)
3.)
4.)

2,348,000.00

Supplies on hand at year end, P 4,000.00

Depreciation on furniture and fixtures, P 40,000.00
Depreciation on building, P 20,000.00
Salaries owned but not yet paid, P 10,000.00
Accrued service revenue, P 24,000.00
Of the P 90,000 balance of Unearned service revenu
P 64,000.00 was earned during 2012.

Requirements:
Prepare journal entries and post the adjustments in t
worksheet below with proper extension of amounts f
the balance sheet and income statement.
Prepare the final trial balance.
Prepare Balance sheet.
Prepare Income Statement.

Balance
Credit

80,000.00
260,000.00
760,000.00
90,000.00
586,000.00
572,000.00

2,348,000.00

AJE
Debit
Credit

Trial Balance
Debit
Credit

Balance
Debit

below:

g entries include:

, P 4,000.00
fixtures, P 40,000.00
0,000.00
aid, P 10,000.00
4,000.00
nearned service revenue,
ng 2012.

ost the adjustments in the

extension of amounts for
e statement.

Sheet Income Statement

Credit
Debit
Credit

NAME OF STUDENT: ______________________________________

CLASS SCHEDULE: ________________________________________
PART II. SET B PROBLEM
The trial balance of Smart Dreams Service Company at December 31, 2012, the end of its fiscal year,
Yolie Company
Trial Balance
For the Year ended
December 31, 2012

Account Title
Cash
Accounts Receivable
Supplies
Furnitures and fixtures
Accumulated depreciation Furnitures and fixtures
Building
Accumulated depreciation - Bldg.
Accounts Payable
Salary Payable
Unearned Service Revenue
Fred Santos, Capital
Fred Santos, Withdrawals
Service Revenue
Salary Expense
Supplies Expense
Depreciation Expense - Furn & Fix
Depreciation Expense - building
Miscellaneous Expense

TRIAL BALANCE
Debit
Credit
396,000.00
740,000.00
12,000.00
200,000.00
80,000.00
500,000.00
260,000.00
760,000.00
90,000.00
586,000.00
130,000.00
572,000.00
344,000.00

26,000.00
2,348,000.00

2,348,000.00

Account Title
Cash
Accounts Receivable
Supplies
Furnitures and fixtures
Accumulated depreciation Furnitures and fixtures
Building
Accumulated depreciation - Bldg.
Accounts Payable
Salary Payable
Unearned Service Revenue
Fred Santos, Capital
Fred Santos, Withdrawals
Service Revenue
Salary Expense
Supplies Expense
Depreciation Expense - Furn & Fix
Depreciation Expense - building
Miscellaneous Expense

FOR THE MONTH OF DEC

Trial
Debit
396,000.00
740,000.00
12,000.00
200,000.00

Balance
Credit

80,000.00
500,000.00
260,000.00
760,000.00
90,000.00
586,000.00
130,000.00
572,000.00
344,000.00

26,000.00
2,348,000.00

432,184.00

2,348,000.00

DATE: _____________________
SCORE: ____________________

12, the end of its fiscal year, is presented below:

Date needed for the adjusting entries include:

a.)
b.)
c.)
d.)
e.)
f.)

1.)

2.)
3.)
4.)

Supplies on hand at year end, P 14,000.00

Depreciation on furniture and fixtures, P 20,000.00
Depreciation on building, P 10,000.00
Salaries owned but not yet paid, P 30,000.00
Accrued service revenue, P 48,000.00
Of the P 90,000 balance of Unearned service revenue,
P 34,000.00 was earned during 2012.
Requirements:
Prepare journal entries and post the adjustments in the
worksheet below with proper extension of amounts for
the balance sheet and income statement.
Prepare the final trial balance.
Prepare Balance sheet.
Prepare Income Statement.

AJE
Debit

Credit

Trial
Debit

Balance
Credit

Balance Sheet
Debit
Credit

Income Statement
Debit
Credit