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YOU MAY USE THESE LINKS

GO TO PROBLEM 1

GO TO STEP 1 JOURNALIZING 2

GO TO STEP 2 POSTING TO LEDGER 3

GO TO STEP 3TRIAL BALANCE PREPARATION 4

GO TO STEP 4 ADJUSTMENTS 5

GO TO STEP 5 WORKSHEET 6

GO TO STEP 6 - INCOME STATEMENT 7

GO TO STEP 6 - CAPITAL STATEMENT 8

GO TO STEP 6 - BALANCE SHEET 9

GO TO STEP 7 CLOSING ENTRIES 10

GO TO STEP 8 POST CLOSING TRIAL BALANCE 11

GO TO STEP 9 REVERSING ENTRIES 12

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GENERAL INSTRUCTIONS

READ AND ANALYSE THE TRANSACTIONS HAPPENED ON THE "PROBLEM" SHEET.

AFTER ANALISING GO TO "ACCOUNTS&JOURNAL" SHEET (USE THE LINK) AND RECORD THE TRANSACTION IN THE GENERAL JO

IN JOURNALIZING THERE IS A DEFAULT "CHART OF ACCOUNTS" WITH ACCOUNT NUMBER FOR YOUR REFERENCE

DON'T ENCODE ANY VALUES ON THE BLUE FILLED COLOR CELL/S AS THERE ARE FORMULAS THAT WILL AUTOMATICALLY HELP Y

IN JOURNALIZING , JUST ENCODE THE DATE OF TRANSACTION AND THE CORRESPONDING ACCOUNT NUMBER, AND ITS AMOU

AFTER JOURNALIZING GO TO "LEDGER" SHEET (USE THE LINK) FOR POSTING THE JOURNALS.

IN THE "LEDGER" SHEET JUST ENCODE THE DATE THAT CORRESPOND THE AFFECTED ACCOUNT FROM THE GENERAL JOURNAL

AFTER POSTING THERE WILL BE AN AUTOMATIC SUMMATION OF THE POSTED TRANSACTION FOR EACH ACCOUNT TITLE NAM

YOU MAY USE THE "FIND AND REPLACE" (CTRL + "F") FUNCTION TO GO TO ANOTHER AFFECTED ACCOUNT TITLE FOR POSTING

AFTER ALL THE ACCOUNTS ARE POSTED, GO TO "TRIAL BALANCE" SHEET

JUST ENCODE THE NAME OF THE COMPANY AND THE PERIOD SCOPE OF THE TRANSACTIONS, ALSO THE ACCOUNT NUMBER O
SUMMARIZE.

AFTER THE TRIAL BALANCE, ANALYZE THE INFORMATIONS NECESSARY FOR ADJUSTMENTS

JOURNALIZE THE ITEMS FOR ADJUSTMENT AT THE "ADJUSTMENT" SHEET. IN GETTING THE ADJUSTMENT AMOUNTS YOU MAY

IN THERE JUST ENCODE THE ACCOUNT NUMBER THAT CORRESPOND THE AFFECTED ACCOUNT TITLE. JUST ENCODE THE DATE
ADJUSTMENT AMOUNT IN THE DEBIT OR CREDIT COLUMN

DON'T ENCODE ANY VALUES ON THE BLUE FILLED COLOR CELL/S AS THERE ARE FORMULAS THAT WILL AUTOMATICALLY HELP Y

AFTER ADJUSTING UPDATE THE "LEDGER" SHEET FOR THE ADJUSTMENTS ROW. JUST ENCODE THE DATE AND ALL THE NECESSA

AFTER ADJUSTMENT AND UPDATING THE LEDGER GO TO "WORKSHEET" SHEET (USE THE LINK) TO COMPLETE THE WORKSHEE
AMOUNTS WILL BE AUTOMATICALLY ENCODED TO ITS RESPECTIVE CELLS FOR ITS RESPECTIVE COLUMNS

GO TO INCOME STATEMENT AND JUST ENCODE THE PROPER ACCOUNT NUMBER FOR THE PROPER NOMINAL ACCOUNT TITLE
NEXT, GO TO "CAPITALSTATEMENT" SHEET AND COMPLETE THE CORRECT FORMAT FOR THE REPORT. JUST ENCODE THE ACCOU

COMPLETE THE BALANCE SHEET REPORT IN THE "BALANCE SHEET" (USE THE LINK) SHEET. JUST ENTER THE PROPER REAL ACCO

PREPARE THE CLOSING ENTRIES BY ENTERING THE ACCOUNT CODE AND THE AMOUNT OF NOMINAL ACCOUNT

AFTER CLOSING, UPDATE THE "LEDGER" SHEET FOR THE CLOSING ENTRIES POSTING ROW. JUST ENCODE THE DATE AND ALL TH

PREPARE THE POST CLOSING TRIAL ON THE "POSTCLOSINGTRIALBAL" SHEET BY ENCODING ONLY THE ACCOUNT NUMBER OF T
PREPARE THE NECESSARY REVERSING ENTRIES AT THE "REVERSINGENTRIES" SHEET

THIS PRACTICE SET MAY BE USE IN ANOTHER SET OF PROBLEM THAT MAY CONTAIN DIFFERENT CODES, ACCOUNT TITLE, TRAN
ACCOUNTING CYCLE FOR MERCHANDISING, MANUFACTURING WITH DIFFERENT ORGANIZATION SUCH AS SOLE, PARTNESHIP,
ACCOUNTING PROCESS ONLY THAT STARTS WITH JOURNALIZING AND END WITH REVERSING ENTRIES. THIS IS LIMITED ONLY FO
SUITABLE FOR THE REPORTING OR SCHEDULING,PROCESSING OF ACCOUNTS FOR FINANCIAL, MANAGERIAL ACCOUNTING, AU
BACK TO INSTRUCTION

PROBLEM SOLVING

Dr. Charlene C. Mendoza, a CPA and a PHD graduate of Harvard University, USA opened a consultancy firm on
an office space. She invested cash of P500,000 and furniture and fixtures of P175,000. Additional transaction

March
days. 3 Purchased a computer costing P80,000. Paid 50% and promised to pay the balance after 15 5
a newspaper of the opening of the consultancy firm, P15,000.
8 Purchased office supplies and paid P15,000.
9 Installed a set of accounting software for P350,000 and issued a promissory note.
10 Rendered tax services to clients who paid cash of P52,550.
11 Made a 50% payment on the balance owed for the purchase of equipment on March 3.
12 Conducted a two-day seminar on the system and procedure for the computerized
system of Asia Hospital. Collected P150,000.
13 Billed Goldman Rubber Tires P30,000 for a one-day seminar on budget preparation.
14 Prudential Bank approved a 12%, five year loan for P2,000,000 for the purchase of a
condominium unit for residential purpose.
15 Paid for the salaries of staff, P75,000.
16 Purchased Insurance for 1 year in the amount of P72,000.(Asset Method)
16 Received an advance payment from clients P45,000; tax service is to be rendered for the next
owner recorded it as Tax Fees Income.(Income Method)
18 Withdrew cash for personal use, P15,000.
20 Various accounting and auditing services collected in cash, P110,000.
22 Purchased furniture and fixtures from Baltazar Furnishings on account, P35,000.
25 Paid for the amount owed on the accounting software.
26 CFC, a food processing company, requested Dr. Mendoza to set up a merger plan for CFC
and Arcy Dairy. Dr. Mendoza charged CFC, P250,000.
27 Goldman paid 50%.
28 Paid P50,000 for the monthly rent, including utilities of P5,000.
29 Supplies used up amounted to P12,500.
31 Returned some pieces of defective fixtures to Baltazar Furnishings which was deducted
from the account of the business, P3,000.
Required:
Record the above transactions in a two-column journal. Start with the March 1 investment. Use the titles:

Cash Mendoza, Drawing


Accounts Receivable Income Summary
Allowance for Bad Debts Tax Fees Revenues
Office Supplies Auditing and Accounting Fees Revenues
Prepaid Insurance Consultancy Fees Revenues
Furniture and Fixtures Depreciation - F&F
Accumulated Depreciation-F&F Depreciation- Off.Equip
Office Equipment Amortization-Acctg.Software
Accumulated Depreciation-Off.Equip Advertising Expense
Accounting Software Bad Debts
Accumulated Amortization-Acctg.Software Insurance Expense
Salaries Payable Salaries Expense
Accounts Payable Rent Expense
Deferred Tax Fees Revenue Utilities Expense
Notes Payable Office Supplies Expense
Mendoza, Capital

1. Set the Chart of Account


2.Make postings on the ledger.
3.Prepare a trial balance.

ADDITIONAL INFORMATION FOR ADJUSTMENTS AS OF THE END OF THE MONTH.


a. There were accrued salaries amounting to P18,500.00
b. The Furniture and fixtures will be depreciated over a life of 5 years with null residual value. it is the po
Deferred Tax Fees Revenue Utilities Expense
Notes Payable Office Supplies Expense
Mendoza, Capital

1. Set the Chart of Account


2.Make postings on the ledger.
3.Prepare a trial balance.

ADDITIONAL INFORMATION FOR ADJUSTMENTS AS OF THE END OF THE MONTH.


a. There were accrued salaries amounting to P18,500.00
b. The Furniture and fixtures will be depreciated over a life of 5 years with null residual value. it is the po
company to depreciate the depreciable assets at full amount in the date of acquisition using straight
c. Equipment will be depreciated over a life of 5 years with no salvage value.
d. Accounting software can be used for 10 years.
e. Based on the source documents filed, there was an unbilled customers for unrecorded audit services
amount of P 15,000.
f. Accounts receivable will have doubtful accounts equal to 5% of outstanding balance after adjustment (
g. Insurance will be adjusted at its current value.
h. Update the advance payment received from tax customers.

4. Prepare adjusting journal entries.


5. Prepare worksheet.
6. Prepare financial statements for this business.
7. Prepare Closing Entries
8. Make a Post Closing Trial Balance
9. Reverse the necessary adjustments.
GO TO STEP 1 JOURNALIZING
GO TO STEP 2 POSTING TO LEDGER
ned a consultancy firm on March 1, 2015 by leasing GO TO STEP 3TRIAL BALANCE PREPARATION
00. Additional transactions for March are as follows: GO TO STEP 4 ADJUSTMENTS
GO TO STEP 5 WORKSHEET
y the balance after 15 5 Paid for the publication in GO TO STEP 6 - INCOME STATEMENT
GO TO STEP 6 - CAPITAL STATEMENT
y note. GO TO STEP 6 - BALANCE SHEET
GO TO STEP 7 CLOSING ENTRIES
t on March 3. GO TO STEP 8 POST CLOSING TRIAL BALANCE
uterized
GO TO STEP 9 REVERSING ENTRIES
paration.
chase of a

ndered for the next three months and the

5,000.

er plan for CFC

was deducted

stment. Use the titles:

residual value. it is the policy of the


residual value. it is the policy of the
on using straight line method.

nrecorded audit services rendered in the

alance after adjustment (e).


BACK TO INSTRUCTION

BACK TO PROBLEM
ENTER THE CORRECT ACCOUNT CODE, DATE AND AMOUNT
NO CHART OF ACCOUNT
100 D100 Cash
110 D110 Accounts Receivable
115 D115 Allowance for Bad Debts
120 D120 Office Supplies
130 D130 Prepaid Insurance
140 D140 Furniture and Fixtures
145 D145 Accumulated Depreciation-F&F
150 D150 Office Equipment
155 D155 Accumulated Depreciation-Off.Equip
160 D160 Accounting Software
165 D165 Accumulated Amortization-Acctg.Software
200 D200 Salaries Payable
210 D210 Accounts Payable
220 D220 Unearned Tax Fees Revenue
230 D230 Notes Payable
300 D300 Mendoza, Capital
310 D310 Mendoza, Drawing
400 D400 Income Summary
410 D410 Tax Fees Revenues
420 D420 Auditing and Accounting Fees Revenues
430 D430 Consultancy Fees Revenues
500 D500 Depreciation - F&F
510 D510 Depreciation- Off.Equip
520 D520 Amortization-Acctg.Software
530 D530 Advertising Expense
540 D540 Bad Debts
550 D550 Insurance Expense
560 D560 Salaries Expense
570 D570 Rent Expense
580 D580 Utilities Expense
590 D590 Office Supplies Expense
CREDITS
100 C100 Cash
110 C110 Accounts Receivable
115 C115 Allowance for Bad Debts
120 C120 Office Supplies
130 C130 Prepaid Insurance
140 C140 Furniture and Fixtures
145 C145 Accumulated Depreciation-F&F
150 C150 Office Equipment
155 C155 Accumulated Depreciation-Off.Equip
160 C160 Accounting Software
165 C165 Accumulated Amortization-Acctg.Software
200 C200 Salaries Payable
210 C210 Accounts Payable
220 C220 Unearned Tax Fees Revenue
230 C230 Notes Payable
300 C300 Mendoza, Capital
310 C310 Mendoza, Drawing
400 C400 Income Summary
410 C410 Tax Fees Revenues
420 C420 Auditing and Accounting Fees Revenues
430 C430 Consultancy Fees Revenues
500 C500 Depreciation - F&F
510 C510 Depreciation- Off.Equip
520 C520 Amortization-Acctg.Software
530 C530 Advertising Expense
540 C540 Bad Debts
550 C550 Insurance Expense
560 C560 Salaries Expense
570 C570 Rent Expense
580 C580 Utilities Expense
590 C590 Office Supplies Expense
GENERAL JOURNAL

DATE ACCT NO. ACCOUNT TITLE


3/1/2015 100 Cash
140 Furniture and Fixtures
300 Mendoza, Capital
#
3/3/2015 150 Office Equipment
100 Cash
230 Notes Payable
#
3/5/2015 530 Advertising Expense
100 Cash
#
3/8/2015 120 Office Supplies
100 Cash
#
3/9/2015 160 Accounting Software
230 Notes Payable
#
3/10/2015 100 Cash
410 Tax Fees Revenues
#
3/11/2015 230 Notes Payable
100 Cash
#
3/12/2015 100 Cash
430 Consultancy Fees Revenues
#
3/13/2015 110 Accounts Receivable
430 Consultancy Fees Revenues
#
3/15/2015 560 Salaries Expense
100 Cash
#
3/16/2015 130 Prepaid Insurance
100 Cash
#
3/16/2015 100 Cash
410 Tax Fees Revenues
#
3/18/2015 310 Mendoza, Drawing
100 Cash
#
3/20/2015 100 Cash
420 Auditing and Accounting Fees Revenues
#
3/22/2015 140 Furniture and Fixtures
210 Accounts Payable
#
3/25/2015 230 Notes Payable
100 Cash
#
3/26/2015 110 Accounts Receivable
420 Auditing and Accounting Fees Revenues
#
3/27/2015 100 Cash
110 Accounts Receivable
#
3/28/2015 570 Rent Expense
580 Utilities Expense
100 Cash
#
3/29/2015 590 Office Supplies Expense
120 Office Supplies
#
3/31/2015 210 Accounts Payable
140 Furniture and Fixtures
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#
DEBIT AMOUNTS CREDIT AMOUNTS
₱500,000.00
175,000.00 GO TO STEP 2 POSTING TO LEDGER
₱675,000.00 GO TO STEP 3TRIAL BALANCE PREPARATION
GO TO STEP 4 ADJUSTMENTS
80,000.00 GO TO STEP 5 WORKSHEET
40,000.00 GO TO STEP 6 - INCOME STATEMENT
40,000.00 GO TO STEP 6 - CAPITAL STATEMENT
GO TO STEP 6 - BALANCE SHEET
15,000.00 GO TO STEP 7 CLOSING ENTRIES
15,000.00 GO TO STEP 8 POST CLOSING TRIAL BALANCE
GO TO STEP 9 REVERSING ENTRIES
15,000.00
15,000.00

350,000.00
350,000.00

52,550.00
52,550.00

20,000.00
20,000.00

150,000.00
150,000.00

30,000.00
30,000.00

75,000.00
75,000.00

72,000.00
72,000.00

45,000.00
45,000.00

15,000.00
15,000.00

110,000.00
110,000.00

35,000.00
35,000.00

350,000.00
350,000.00

250,000.00
250,000.00

15,000.00
15,000.00

45,000.00
5,000.00
50,000.00

12,500.00
12,500.00

3,000.00
3,000.00
###
BACK TO INSTRUCTION
BACK TO PROBLEM
Cash
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 500,000.00 0 500,000.00
3/3/2015 0 40,000.00 460,000.00
3/5/2015 0 15,000.00 445,000.00
3/8/2015 0 15,000.00 430,000.00
3/9/2015 0 0
3/10/2015 52,550.00 0 482,550.00
3/11/2015 0 20,000.00 462,550.00
3/12/2015 150,000.00 0 612,550.00
3/13/2015 0 0
3/15/2015 0 75,000.00 537,550.00
3/16/2015 45,000.00 72,000.00 510,550.00
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 15,000.00 495,550.00
3/26/2015 110,000.00 0 605,550.00
3/27/2015 0 0
3/28/2015 0 350,000.00 255,550.00
3/29/2015 0 0
3/31/2015 15,000.00 0 270,550.00
0 50,000.00 220,550.00
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 872,550.00 652,000.00 220,550.00
ADJUSTMENTS
0 0 220,550.00

CLOSING ENTRIES
0 0 220,550.00
GO TO STEP 3TRIAL BALANCE PREPARATION ENCODE THE DATE ONLY
GO TO STEP 4 ADJUSTMENTS
GO TO STEP 5 WORKSHEET
GO TO STEP 6 - INCOME STATEMENT
GO TO STEP 6 - CAPITAL STATEMENT
GO TO STEP 6 - BALANCE SHEET
GO TO STEP 7 CLOSING ENTRIES
GO TO STEP 8 POST CLOSING TRIAL BALANCE
GO TO STEP 9 REVERSING ENTRIES
Accounts Receivable
DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 30,000.00 0
3/15/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 250,000.00 0
3/27/2015 0 15,000.00
3/28/2015 0 0
3/29/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 280,000.00 15,000.00
ADJUSTMENTS
3/31/2015 14,000.00 0

CLOSING ENTRIES
0 0
OFFICE SUPPLIES
BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
3/1/2015 0
3/3/2015 0
3/5/2015 0
3/8/2015 15,000.00
3/9/2015 0
3/10/2015 0
3/11/2015 0
3/12/2015 0
30,000.00 3/13/2015 0
3/15/2015 0
3/16/2015 0
3/18/2015 0
3/20/2015 0
3/22/2015 0
3/25/2015 0
280,000.00 3/26/2015 0
265,000.00 3/27/2015 0
3/28/2015 0
3/29/2015 0
3/31/2015 0
0
0
0
0
0
0
0
0
0
265,000.00 UNADJUSTED ENDING BALANCE 15,000.00
ADJUSTMENTS
279,000.00 0

CLOSING ENTRIES
279,000.00 0
ICE SUPPLIES PREPAID INSURAN
CREDIT BALANCE DR./(CR) DATE
BEGINNING BALANCE
0 3/1/2015
0 3/3/2015
0 3/5/2015
0 15,000.00 3/8/2015
0 3/9/2015
0 3/10/2015
0 3/11/2015
0 3/12/2015
0 3/13/2015
0 3/15/2015
0 3/16/2015
0
0 3/18/2015
0 3/20/2015
0 3/22/2015
0 3/25/2015
0 3/26/2015
0 3/27/2015
12,500.00 2,500.00 3/28/2015
0 3/29/2015
0 3/31/2015
0
0
0
0
0
0
0
0
12,500.00 2,500.00 UNADJUSTED ENDING BALANCE
ADJUSTMENTS
0 2,500.00 3/31/2015

CLOSING ENTRIES
0 2,500.00
PREPAID INSURANCE
DEBIT CREDIT BALANCE DR./(CR)

0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
72,000.00 0 72,000.00
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
72,000.00 - 72,000.00

0 3,183.00 68,817.00

0 0 68,817.00
FURNITURE AND FIXTURE
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 175,000.00 0 175,000.00
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 35,000.00 0 210,000.00
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 3,000.00 207,000.00
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 210,000.00 3,000.00 207,000.00
ADJUSTMENTS
0 0 207,000.00

CLOSING ENTRIES
0 0 207,000.00
OFFICE EQUIPMENT
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 80,000.00 0 80,000.00
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 80,000.00 - 80,000.00
ADJUSTMENTS
0 0 80,000.00

CLOSING ENTRIES
0 0 80,000.00
ACCOUNTING SOFTWARE
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 350,000.00 0 350,000.00
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 350,000.00 - 350,000.00
ADJUSTMENTS
0 0 350,000.00

CLOSING ENTRIES
0 0 350,000.00
ALLOW FOR BD
DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE - -
ADJUSTMENTS
3/31/2015 0 3,000.00

CLOSING ENTRIES
3/31/2015 0 0
ACCUM DEP-F&F
BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
3/1/2015 0
3/3/2015 0
3/5/2015 0
3/8/2015 0
3/9/2015 0
3/10/2015 0
3/11/2015 0
3/12/2015 0
3/13/2015 0
3/15/2015 0
3/16/2015 0
3/16/2015 0
3/18/2015 0
3/20/2015 0
3/22/2015 0
3/25/2015 0
3/26/2015 0
3/27/2015 0
3/28/2015 0
3/29/2015 0
3/31/2015 0
0
0
0
0
0
0
0
0
- UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
(3,000.00) 3/31/2015 0

CLOSING ENTRIES
(3,000.00) 0
UM DEP-F&F ACCUM DEP-OFF.EQ
CREDIT BALANCE DR./(CR) DATE
BEGINNING BALANCE
0 3/1/2015
0 3/3/2015
0 3/5/2015
0 3/8/2015
0 3/9/2015
0 3/10/2015
0 3/11/2015
0 3/12/2015
0 3/13/2015
0 3/15/2015
0 3/16/2015
0 3/16/2015
0 3/18/2015
0 3/20/2015
0 3/22/2015
0 3/25/2015
0 3/26/2015
0 3/27/2015
0 3/28/2015
0 3/29/2015
0 3/31/2015
0
0
0
0
0
0
0
0
- - UNADJUSTED ENDING BALANCE
ADJUSTMENTS
1,333.00 (1,333.00) 3/31/2015

CLOSING ENTRIES
0 (1,333.00)
ACCUM DEP-OFF.EQ
DEBIT CREDIT BALANCE DR./(CR)

0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - -

0 2,917.00 (2,917.00)

0 0 (2,917.00)
ACCUM AMORT
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE - - -
ADJUSTMENTS
3/31/2015 0 15,000.00 (15,000.00)

CLOSING ENTRIES
0 0 (15,000.00)
SALARIES PAYABLE
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE - - -
ADJUSTMENTS
3/31/2015 0 18,500.00 (18,500.00)

CLOSING ENTRIES
0 0 (18,500.00)
ACCOUNTS PAYABLE
DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 35,000.00
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 3,000.00 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 3,000.00 35,000.00
ADJUSTMENTS
0 0

CLOSING ENTRIES
0 0
UNEARNED TAX FEES EVENUE
BALANCE DR./(CR) DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
35,000.00 3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
32,000.00 3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
(32,000.00) UNADJUSTED ENDING BALANCE - -
ADJUSTMENTS
(32,000.00) 3/31/2015 0 37,500.00

CLOSING ENTRIES
(32,000.00) 0 0
NUE NOTES PAYABLE
BALANCE DR./(CR) DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 40,000.00
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 350,000.00
3/10/2015 0 0
3/11/2015 20,000.00 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 350,000.00 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- UNADJUSTED ENDING BALANCE 370,000.00 390,000.00
ADJUSTMENTS
(37,500.00) 0 0

CLOSING ENTRIES
(37,500.00) 0 0
MENDOZA CAPITAL
BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
3/1/2015 0
40,000.00 3/3/2015 0
3/5/2015 0
3/8/2015 0
390,000.00 3/9/2015 0
3/10/2015 0
370,000.00 3/11/2015 0
3/12/2015 0
3/13/2015 0
3/15/2015 0
3/16/2015 0
3/16/2015 0
3/18/2015 0
3/20/2015 0
3/22/2015 0
20,000.00 3/25/2015 0
3/26/2015 0
3/27/2015 0
3/28/2015 0
3/29/2015 0
3/31/2015 0
0
0
0
0
0
0
0
0
(20,000.00) UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
(20,000.00) 0

CLOSING ENTRIES
(20,000.00) 3/31/2015 15,000.00
OZA CAPITAL MENDOZA DRAWING
CREDIT BALANCE DR./(CR) DATE
BEGINNING BALANCE
675,000.00 675,000.00 3/1/2015
0 3/3/2015
0 3/5/2015
0 3/8/2015
0 3/9/2015
0 3/10/2015
0 3/11/2015
0 3/12/2015
0 3/13/2015
0 3/15/2015
0 3/16/2015
0 3/16/2015
0 3/18/2015
0 3/20/2015
0 3/22/2015
0 3/25/2015
0 3/26/2015
0 3/27/2015
0 3/28/2015
0 3/29/2015
0 3/31/2015
0
0
0
0
0
0
0
0
675,000.00 (675,000.00) UNADJUSTED ENDING BALANCE
ADJUSTMENTS
0 (675,000.00)

CLOSING ENTRIES
417,617.00 (1,077,617.00) 3/31/2015
MENDOZA DRAWING
DEBIT CREDIT BALANCE DR./(CR)

0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
15,000.00 0 15,000.00
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
15,000.00 - 15,000.00

0 0 15,000.00

0 15,000.00 -
INCOME SUMMARY
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE - - -
ADJUSTMENTS
0 0 -

CLOSING ENTRIES
3/31/2015 196,433.00 614,050.00
0 #N/A
TAX FEES REVENUE
DATE DEBIT CREDIT
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 52,550.00
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 45,000.00
0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE - 97,550.00
ADJUSTMENTS
3/31/2015 37,500.00 0

CLOSING ENTRIES
3/31/2015 60,050.00 0
AUDITING & ACCTG FEES REVENUES
BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
3/1/2015 0
3/3/2015 0
3/5/2015 0
3/8/2015 0
3/9/2015 0
52,550.00 3/10/2015 0
3/11/2015 0
3/12/2015 0
3/13/2015 0
3/15/2015 0
97,550.00 3/16/2015 0
3/16/2015 0
3/18/2015 0
3/20/2015 0
3/22/2015 0
3/25/2015 0
3/26/2015 0
3/27/2015 0
3/28/2015 0
3/29/2015 0
3/31/2015 0
0
0
0
0
0
0
0
0
(97,550.00) UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
(60,050.00) 3/31/2015 0

CLOSING ENTRIES
- 3/31/2015 374,000.00
TG FEES REVENUES CONSULTANCY FEES REVENUES
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
110,000.00 110,000.00 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
250,000.00 360,000.00 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
360,000.00 (360,000.00) UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
14,000.00 (374,000.00) 0

CLOSING ENTRIES
0 - 3/31/2015 180,000.00
Y FEES REVENUES DEPRECIATION F&F
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
150,000.00 150,000.00 3/12/2015 0
30,000.00 180,000.00 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
180,000.00 (180,000.00) UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
0 (180,000.00) 3/31/2015 1,333.00

CLOSING ENTRIES
0 - 3/31/2015 0
CIATION F&F DEPRECIATION OFF.EQUIP
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
0 1,333.00 3/31/2015 2,917.00

CLOSING ENTRIES
1,333.00 - 3/31/2015 0
TION OFF.EQUIP AMORTIZATION COM.SOFT
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
0 2,917.00 3/31/2015 15,000.00

CLOSING ENTRIES
2,917.00 - 3/31/2015 0
TION COM.SOFT ADVERTISING EXP
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 15,000.00
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - UNADJUSTED ENDING BALANCE 15,000.00
ADJUSTMENTS
0 15,000.00 0

CLOSING ENTRIES
15,000.00 - 3/31/2015 0
ISING EXP BAD DEBTS EXP
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 15,000.00 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- 15,000.00 UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
0 15,000.00 3/31/2015 3,000.00

CLOSING ENTRIES
15,000.00 - 3/31/2015 0
DEBTS EXP INSURANCE EXP.
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 0
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - UNADJUSTED ENDING BALANCE -
ADJUSTMENTS
0 3,000.00 3/31/2015 3,183.00

CLOSING ENTRIES
3,000.00 - 3/31/2015 0
RANCE EXP. SALARIES EXP
CREDIT BALANCE DR./(CR) DATE DEBIT
BEGINNING BALANCE
0 3/1/2015 0
0 3/3/2015 0
0 3/5/2015 0
0 3/8/2015 0
0 3/9/2015 0
0 3/10/2015 0
0 3/11/2015 0
0 3/12/2015 0
0 3/13/2015 0
0 3/15/2015 75,000.00
0 3/16/2015 0
0 3/16/2015 0
0 3/18/2015 0
0 3/20/2015 0
0 3/22/2015 0
0 3/25/2015 0
0 3/26/2015 0
0 3/27/2015 0
0 3/28/2015 0
0 3/29/2015 0
0 3/31/2015 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
- - UNADJUSTED ENDING BALANCE 75,000.00
ADJUSTMENTS
0 3,183.00 3/31/2015 18,500.00

CLOSING ENTRIES
3,183.00 - 3/31/2015 0
ARIES EXP RENT EXPENSE
CREDIT BALANCE DR./(CR) DATE
BEGINNING BALANCE
0 3/1/2015
0 3/3/2015
0 3/5/2015
0 3/8/2015
0 3/9/2015
0 3/10/2015
0 3/11/2015
0 3/12/2015
0 3/13/2015
0 75,000.00 3/15/2015
0 3/16/2015
0 3/16/2015
0 3/18/2015
0 3/20/2015
0 3/22/2015
0 3/25/2015
0 3/26/2015
0 3/27/2015
0 3/28/2015
0 3/29/2015
0 3/31/2015
0
0
0
0
0
0
0
0
- 75,000.00 UNADJUSTED ENDING BALANCE
ADJUSTMENTS
0 93,500.00 3/31/2015

CLOSING ENTRIES
93,500.00 - 3/31/2015
RENT EXPENSE
DEBIT CREDIT BALANCE DR./(CR)

0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
45,000.00 0 45,000.00
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
45,000.00 - 45,000.00

0 0 45,000.00

0 45,000.00 -
UTILITIES EXP
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 5,000.00 0 5,000.00
3/29/2015 0 0
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 5,000.00 - 5,000.00
ADJUSTMENTS
0 0 5,000.00

CLOSING ENTRIES
3/31/2015 0 0 5,000.00
OFFICE SUPPLIES EXP
DATE DEBIT CREDIT BALANCE DR./(CR)
BEGINNING BALANCE
3/1/2015 0 0
3/3/2015 0 0
3/5/2015 0 0
3/8/2015 0 0
3/9/2015 0 0
3/10/2015 0 0
3/11/2015 0 0
3/12/2015 0 0
3/13/2015 0 0
3/15/2015 0 0
3/16/2015 0 0
3/16/2015 0 0
3/18/2015 0 0
3/20/2015 0 0
3/22/2015 0 0
3/25/2015 0 0
3/26/2015 0 0
3/27/2015 0 0
3/28/2015 0 0
3/29/2015 12,500.00 0 12,500.00
3/31/2015 0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
UNADJUSTED ENDING BALANCE 12,500.00 - 12,500.00
ADJUSTMENTS
0 0 12,500.00

CLOSING ENTRIES
3/31/2015 0 12,500.00 -
BACK TO INSTRUCTION MENDOZA CONSULTANCY FIRM
BACK TO PROBLEM UNADJUSTED TRIAL BALANCE
31-Mar-15
GO TO STEP 4 ADJUSTMENTS ACCOUNT
GO TO STEP 5 WORKSHEET CODE ACCOUNT TITLE
GO TO STEP 6 - INCOME STATEMENT 100 Cash
GO TO STEP 6 - CAPITAL STATEMENT 110 Accounts Receivable
GO TO STEP 6 - BALANCE SHEET 120 Office Supplies
GO TO STEP 7 CLOSING ENTRIES 130 Prepaid Insurance
GO TO STEP 8 POST CLOSING TRIAL BALANCE 140 Furniture and Fixtures
GO TO STEP 9 REVERSING ENTRIES 150 Office Equipment
160 Accounting Software
210 Accounts Payable
ENTER THE CORRECT CODE 230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
530 Advertising Expense
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense

TOTAL
SULTANCY FIRM
TRIAL BALANCE
ar-15
UNADJUSTED BALANCES
DEBIT CREDIT
₱220,550.00
265,000.00
2,500.00
72,000.00
207,000.00
80,000.00
350,000.00
32,000.00
20,000.00
675,000.00
15,000.00
97,550.00
₱360,000.00
180,000.00
15,000.00

75,000.00
45,000.00
5,000.00
12,500.00

1,364,550.00 1,364,550.00
-
BACK TO INSTRUCTION
BACK TO PROBLEM

NO CHART OF ACCOUNT
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
CREDITS
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
ADJUSTMENTS GENERAL JOURNAL
DATE ACCT NO.
GO TO STEP 5 WORKSHEET 3/31/2015 560
GO TO STEP 6 - INCOME STATEMENT 200
GO TO STEP 6 - CAPITAL STATEMENT
GO TO STEP 6 - BALANCE SHEET 3/31/2015 500
GO TO STEP 7 CLOSING ENTRIES 145
GO TO STEP 8 POST CLOSING TRIAL BALANCE
GO TO STEP 9 REVERSING ENTRIES 3/31/2015 510
155
ENTER THE CORRECT ACCOUNT CODE, DATE AND AMOUNT
3/31/2015 520
165

3/31/2015 110
420

3/31/2015 540
115

3/31/2015 550
130

3/31/2015 410
220
ACCOUNT TITLE DEBIT AMOUNTS CREDIT AMOUNTS
Salaries Expense ₱18,500.00
Salaries Payable ₱18,500.00
#
Depreciation - F&F 1,333.00
Accumulated Depreciation-F&F 1,333.00
#
Depreciation- Off.Equip 2,917.00
Accumulated Depreciation-Off.Equip 2,917.00
#
Amortization-Acctg.Software 15,000.00
Accumulated Amortization-Acctg.Software 15,000.00
#
Accounts Receivable 14,000.00
Auditing and Accounting Fees Revenues 14,000.00
#
Bad Debts 3,000.00
Allowance for Bad Debts 3,000.00
#
Insurance Expense 3,183.00
Prepaid Insurance 3,183.00
#
Tax Fees Revenues 37,500.00
Unearned Tax Fees Revenue 37,500.00
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#REF!
WORKSHEET BACK TO INSTRUCTION
BACK TO PROBLEM
ENTER THE CORRECT ACCOUNT CODE
ACCOUNT TRIAL BALANCE
CODE ACCOUNT TITLE Debit
100 Cash ₱220,550.00
110 Accounts Receivable 265,000.00
115 Allowance for Bad Debts
120 Office Supplies 2,500.00
130 Prepaid Insurance 72,000.00
140 Furniture and Fixtures 207,000.00
145 Accumulated Depreciation-F&F
150 Office Equipment 80,000.00
155 Accumulated Depreciation-Off.Equip
160 Accounting Software 350,000.00
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing 15,000.00
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense 15,000.00
540 Bad Debts
550 Insurance Expense
560 Salaries Expense 75,000.00
570 Rent Expense 45,000.00
580 Utilities Expense 5,000.00
590 Office Supplies Expense 12,500.00

TOTAL ₱ 1,364,550.00
400 Income Summary
TOTAL

GO TO STEP 6 - INCOME STATEMENT


GO TO STEP 6 - CAPITAL STATEMENT
GO TO STEP 6 - BALANCE SHEET
GO TO STEP 7 CLOSING ENTRIES
GO TO STEP 8 POST CLOSING TRIAL BALANCE
GO TO STEP 9 REVERSING ENTRIES
NAME OF THE COMPANY
WORKSHEET
PERIOD ENDING
TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE
Credit Debit Credit Debit Credit
₱220,550.00
₱14,000.00 - 279,000.00
- ₱3,000.00 ₱3,000.00
2,500.00
- 3,183.00 68,817.00
207,000.00
- 1,333.00 1,333.00
80,000.00
- 2,917.00 2,917.00
350,000.00
- 15,000.00 15,000.00
- 18,500.00 18,500.00
₱32,000.00 32,000.00
- 37,500.00 37,500.00
20,000.00 20,000.00
675,000.00 675,000.00
15,000.00
97,550.00 37,500.00 - 60,050.00
360,000.00 - 14,000.00 374,000.00
180,000.00 180,000.00
1,333.00 - 1,333.00
2,917.00 - 2,917.00
15,000.00 - 15,000.00
15,000.00
3,000.00 - 3,000.00
3,183.00 - 3,183.00
18,500.00 - 93,500.00
45,000.00
5,000.00
12,500.00

₱ 1,364,550.00 ₱ 95,433.00 ₱ 95,433.00 ₱ 1,419,300.00 ₱ 1,419,300.00


INCOME STATEMENT BALANCE SHEET
Debit Credit Debit Credit
₱220,550.00
279,000.00
₱3,000.00
2,500.00
68,817.00
207,000.00
1,333.00
80,000.00
2,917.00
350,000.00
15,000.00
18,500.00
32,000.00
37,500.00
20,000.00
675,000.00
15,000.00
₱60,050.00
374,000.00
180,000.00
₱1,333.00
2,917.00
15,000.00
15,000.00
3,000.00
3,183.00
93,500.00
45,000.00
5,000.00
12,500.00

₱ 196,433.00 ₱ 614,050.00 ₱ 1,222,867.00 ₱ 805,250.00


₱ 417,617.00 ₱ 417,617.00
₱ 614,050.00 ₱ 614,050.00 ₱ 1,222,867.00 ₱ 1,222,867.00
MENDOZA CO
BACK TO INSTRUCTION STATEMENT OF COM
BACK TO PROBLEM 31-M

ACCOUNT
GO TO STEP 6 - CAPITAL STATEMENT CODE REVENUES
GO TO STEP 6 - BALANCE SHEET 410 Tax Fees Revenues
GO TO STEP 7 CLOSING ENTRIES 420 Auditing and Accounting Fees Revenues
GO TO STEP 8 POST CLOSING TRIAL BALANCE 430 Consultancy Fees Revenues
GO TO STEP 9 REVERSING ENTRIES TOTAL

ENTER THE CORRECT ACCOUNT CODE EXPENSES


500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense

NET INCOME/(LOSS)
MENDOZA CONSULTANCY FIRM
STATEMENT OF COMPREHENSIVE INCOME
31-Mar-15

REVENUES
P 60,050.00
and Accounting Fees Revenues 374,000.00
ncy Fees Revenues 180,000.00
P 614,050.00

EXPENSES
P 1,333.00
tion- Off.Equip 2,917.00
tion-Acctg.Software 15,000.00
15,000.00
3,000.00
3,183.00
93,500.00
45,000.00
5,000.00
pplies Expense 12,500.00 196,433.00

ME/(LOSS) P 417,617.00
BACK TO INSTRUCTION
BACK TO PROBLEM
MENDOZA
GO TO STEP 7 CLOSING ENTRIES STATEMENT O
GO TO STEP 8 POST CLOSING TRIAL BALANCE 3
GO TO STEP 9 REVERSING ENTRIES

ACCOUNT
ENTER THE CORRECT ACCOUNT CODE CODE CURRENT ASSETS
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
TOTAL CURRENT ASSETS

NON-CURRENT ASSETS
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software

TOTAL ASSETS

200 Salaries Payable


210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
TOTAL LIABILITIES

300 Mendoza, Capital ENDING

TOTAL LIABILITIES & OWNER'S CAPITAL


MENDOZA CONSULTANCY FIRM
STATEMENT OF FINANCIAL POSITION
31-Mar-15

ASSETS

P 220,550.00
P 279,000.00
(3,000.00) 276,000.00
2,500.00
68,817.00
RRENT ASSETS P 567,867.00

207,000.00
(1,333.00) 205,667.00
80,000.00
ciation-Off.Equip (2,917.00) 77,083.00
350,000.00
tization-Acctg.Software (15,000.00) 335,000.00

P 1,185,617.00

LIABILITIES AND OWNER'S CAPITAL

P 18,500.00
32,000.00
37,500.00
20,000.00
P 108,000.00

#N/A

& OWNER'S CAPITAL P #N/A


BACK TO INSTRUCTION
BACK TO PROBLEM

GO TO STEP 6 - BALANCE SHEET MENDOZA CO


GO TO STEP 7 CLOSING ENTRIES CAPITAL
GO TO STEP 8 POST CLOSING TRIAL BALANCE 31-
GO TO STEP 9 REVERSING ENTRIES
ACCOUNT
CODE ACCOUNT TITLE
ENTER THE CORRECT ACCOUNT CODE 300 Mendoza, Capital
400 Income Summary
TOTAL
310 Mendoza, Drawing
MENDOZA CONSULTANCY FIRM
CAPITAL STATEMENT
31-Mar-15

ACCOUNT TITLE
BEGINNING P 675,000.00
417,617.00
1,092,617.00
(15,000.00)
ENDING P 1,077,617.00
BACK TO INSTRUCTION
BACK TO PROBLEM

NO CHART OF ACCOUNT
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
CREDITS
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
CLOSING GENERAL JOURNAL
DATE ACCT NO.
GO TO STEP 8 POST CLOSING TRIAL BALANCE 3/31/2015 300
GO TO STEP 9 REVERSING ENTRIES 310

ENTER THE CORRECT ACCOUNT CODE, DATE AND AMOUNT 3/31/2015 410
420
430
400

3/31/2015 400
500
510
520
530
540
550
560
570
580
590

3/31/2015 400
300
n-Acctg.Software

Fees Revenues
ACCOUNT TITLE DEBIT AMOUNTS CREDIT AMOUNTS
Mendoza, Capital ₱15,000.00
Mendoza, Drawing 15,000.00
#
Tax Fees Revenues 60,050.00
Auditing and Accounting Fees Revenues 374,000.00
Consultancy Fees Revenues 180,000.00
Income Summary 614,050.00
#
Income Summary 196,433.00
Depreciation - F&F 1,333.00
Depreciation- Off.Equip 2,917.00
Amortization-Acctg.Software 15,000.00
Advertising Expense 15,000.00
Bad Debts 3,000.00
Insurance Expense 3,183.00
Salaries Expense 93,500.00
Rent Expense 45,000.00
Utilities Expense 5,000.00
Office Supplies Expense 12,500.00
#
Income Summary 417,617.00
Mendoza, Capital 417,617.00
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#REF!
BACK TO INSTRUCTION
BACK TO PROBLEM
GO TO STEP 9 REVERSING ENTRIES MENDOZA CONSULTANCY FIRM
POST CLOSING TRIAL BALNCE
31-Mar-15
ACCOUN BALANCES
ENTER THE CORRECT ACCOUNT T CODE ACCOUNT TITLE DEBIT
100 Cash ₱220,550.00
110 Accounts Receivable 279,000.00
115 Allowance for Bad Debts
120 Office Supplies 2,500.00
130 Prepaid Insurance 68,817.00
140 Furniture and Fixtures 207,000.00
145 Accumulated Depreciation-F&F
150 Office Equipment 80,000.00
155 Accumulated Depreciation-Off.Equip
160 Accounting Software 350,000.00
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
TOTAL ₱1,207,867.00
M
E

BALANCES
CREDIT

₱3,000.00

1,333.00

2,917.00

15,000.00
18,500.00
32,000.00
37,500.00
20,000.00
1,077,617.00
₱1,207,867.00
BACK TO INSTRUCTION REVERSING GENERAL JOURNAL
BACK TO PROBLEM DATE
ENTER THE CORRECT ACCOUNT CODE, DATE AND AMOUNT 1/1/2016
NO CHART OF ACCOUNT
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
CREDITS
100 Cash
110 Accounts Receivable
115 Allowance for Bad Debts
120 Office Supplies
130 Prepaid Insurance
140 Furniture and Fixtures
145 Accumulated Depreciation-F&F
150 Office Equipment
155 Accumulated Depreciation-Off.Equip
160 Accounting Software
165 Accumulated Amortization-Acctg.Software
200 Salaries Payable
210 Accounts Payable
220 Unearned Tax Fees Revenue
230 Notes Payable
300 Mendoza, Capital
310 Mendoza, Drawing
400 Income Summary
410 Tax Fees Revenues
420 Auditing and Accounting Fees Revenues
430 Consultancy Fees Revenues
500 Depreciation - F&F
510 Depreciation- Off.Equip
520 Amortization-Acctg.Software
530 Advertising Expense
540 Bad Debts
550 Insurance Expense
560 Salaries Expense
570 Rent Expense
580 Utilities Expense
590 Office Supplies Expense
ENERAL JOURNAL
ACCT NO. ACCOUNT TITLE DEBIT AMOUNTS
200 Salaries Payable ₱18,500.00
560 Salaries Expense
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CREDIT AMOUNTS

₱18,500.00
#REF!