PIO English and Math Tutorial Center PIO English and Math Tutorial CenterJournal Entries Financial WorksheetJuly 1-31, 2011 July 1-31, 2011

ACCOUNTSOFFICE ACCOUNTSNOTESDATE ACCOUNTREF DEBIT CREDIT CASH RECEIVABL EQUIPMEN PAYABLE PAYABLE

1-Jul-15 Cash 50,000 50,000 Owner's Capital 50,000 To record investment

2-Jul-15 Rent Expense 10,000 Cash 10,000 (10,000) To record rental

3-Jul-15 Taxes and Licences 2,000 Cash 2,000 (2,000) To record rental

10-Jul-15 Cash 15,000 15,000 Service Income 15,000 To record cash service income

18-Jul-15 Cash 3,000 3,000 Service Income 3,000 To record cash service income

25-Jul-15 Cash 20,000 20,000 Notes Payable 20,000 20,000 To record promisoyr note - 30 day

27-Jul-15 Accounts Receivable 5,000 5,000 Service Income 5,000 To record service income on account

30-Jul-15 Utility Expense 3,500 Cash 3,500 (3,500) To record electric bill

31-Jul-15 Office Equipment 32,000 32,000 Accounts Payable 32,000 32,000 To record office equipment

31-Jul-15 Salary Expense 14,000 Cash 14,000 (14,000) To record electric bill

154,500 154,500 58,500 5,000 32,000 32,000 20,000

95,500 52,000 95,500

PIO English and Math Tutorial Center - Trial BalanceJuly 31, 2011

ACCOUNT NAME DEBIT CREDIT Cash 58,500 Accounts Receivable 5,000 Office Equipment 32,000 95,500 Accounts Payable 32,000 Notes Payable 20,000 Owner's Capital 50,000 Service Income 23,000 Rent Expense 10,000 Taxes and Licences 2,000 Utility Expense 3,500 Salary Expense 14,000

125,000 125,000

PIO English and Math Tutorial CenterStatement of Finnancial PositionAs of the period ended July 31, 2011

ASSETSCash 58,500 Accounts Receivable 5,000 Office Equipment 32,000 Total Asset 95,500

LIABILITIESAccounts Payable 32,000 Notes Payable 20,000 Total Liabilities 52,000 EQUITY

Owner's Capital, Beg. 50,000 Income (6,500)Owner's Capital, End. 43,500

Total Liabilities and Owner's E 95,500

Income Statement

Service Income 23,000 Less: ExpensesRent Expense 10,000 Taxes and Licences 2,000 Utility Expense 3,500 Salary Expense 14,000

29,500 Net Loss (6,500)

CAPITAL REVENUE EXPENSES

50,000

10,000

2,000

15,000

3,000

5,000

3,500

14,000

50,000 23,000 29,500

43,500

ACCOUNTSDATE ACCOUNT NAME REF DEBIT CREDIT CASH RECEIVABL

1-Apr-15 Cash 65,000 65,000 Medical fee 65,000 To record cash medical fee

2-Apr-15 Cash 5,000 5,000 Account Receivable 5,000 (5,000) To record cash from service rendered last March

3-Apr-15 Cash 5,000 5,000 Unearned Service Income 5,000 To record cash for service to be rendered in May

4-Apr-15 Rent Expense 9,000 Cash 9,000 (9,000) To record rental

5-Apr-15 Utility Expense 4,000 Utilities Payable 4,000 To record electric bill

6-Apr-15 Salary Expense 14,000 Cash 14,000 To record payment of salary

7-Apr-15 Utility Expense 3,500 Cash 3,500 (3,500) To record water bill

8-Apr-15 Cash 20,000 20,000 Bank Payable 20,000 To record bank loan - BC Bank

9-Apr-15 Repairs and Maintenance 2,500 Cash 2,500 To record payment of repairs

10-Apr-15 Cash 50,000 50,000 Owner's Capital 50,000

OFFICE ACCOUNTSBANK INCOME EQUIPMEN PAYABLE PAYABLE CAPITAL REVENUE EXPENSES LOSS

65,000

5,000

9,000

4,000

14,000

3,500

20,000

2,500

50,000

PIO English and Math Tutorial CenterStatement of Finnancial PositionAs of the period ended July 31, 2011( In Philippine Peso)

ASSETSCash 58,500 Accounts Receivable 5,000 Office Equipment 32,000 Total Asset 95,500

LIABILITIESAccounts Payable 32,000 Notes Payable 20,000 Total Liabilities 52,000

EQUITYOwner's Capital, Beg. 50,000 Income (6,500)Owner's Capital, End. 43,500

Total Liabilities and Owner's Equity 95,500