Professional Documents
Culture Documents
BALANCING ACCOUNT:
CASH CASH
(1) 70,000 (2) 23,000 (1) 70,000 (2) 23,000
(7) 57,500 (3) 15,000 (7) 57,500 (3) 15,000
(8) 5,275 (4) 7,000 (8) 5,275 (4) 7,000
(9) 40,125 (5) 1,950 (9) 40,125 (5) 1,950
(6) 22,650 (6) 22,650
TOTAL 172,900 TOTAL 69,600
BALANCE ₱ 103,300
EQUITY EQUITY
(1) 70,000 (1) 70,000
(9) 40,125 (9) 40,125
BALANCE ₱ 110,125
BALANCE ₱ 23,000
BALANCE ₱ 15,000
BALANCE ₱ 7,000
UTILITIES EXPENSE UTILITIES EXPENSE
(5) 1,950 (5) 1,950
BALANCE ₱ 1,950
PURCHASES PURCHASES
(6) 22,650 (6) 22,650
BALANCE ₱ 22,650
BALANCE ₱ 57,500
INVENTORY INVENTORY
(10) 5,275 (10) 5,275
BALANCE ₱ 5,275
DRIFT-INK BUSINESS
TRIAL BALANCE
Balance
Debit Credit
Cash
₱ 103,300
Computer Equipment
23,000
Xerox Machine
15,000
Printer Machine
7,000
Purchases
22,650
Inventory, beg.
0
Inventory, end
₱ 5,275
Paid in Capital
110,125
Sales Revenue
57,500
Utilities Expense
1,950
Total
₱ 172,900 ₱ 172,900
ADJUSTING PROCESS
7,667
5,000
INCOME STATEMENT
Sales ₱ 57,500
Beginning Inventory 0
Purchases 22,650
Profit ₱ 23,175
DRIFT-INK PRINTING BUSINESS
BALANCE SHEET
ASSETS
Current assets:
Cash ₱ 103,300
Inventories 0