LD CONSULTANCY SERVICES

SERVICE REVENUE JOURNAL

Date Debit Credit

Ref. No. Account/s Debited PR Accounts

2021 Service Income
Receivable

6-Jun 210901 JOY SKY STORE a ₱ 50,000.00 ₱ 50,000.00

17-Jun 210902 EDEZYLMARK ENTERPRISE a 55,000.00 55,000.00
17-Jun 210903 NEVERMIND STORE a 30,000.00 30,000.00

TOTAL ₱ 135,000.00 ₱ 135,000.00

( 102 ) ( 401 )

LD CONSULTANCY SERVICES
CASH RECEIPTS JOURNAL

Date Ref. No. Account/s Credited PR Debit Credit Credit

Accounts Service
2021 CASH
Receivable Income
16-Jun 1010301 Vienna Massage Parlor a ₱ 34,000.00 ₱ 34,000.00
21-Jun 1010302 NEVERMIND STORE SRJ-1 30,000.00 ₱ 30,000.00
21-Jun 1010303 CYBORG CLINIC a 17,000.00 17,000.00

TOTAL ₱ 81,000.00 ₱ 30,000.00 ₱ 51,000.00

( 101 ) ( 102 ) ( 401 )
 LD CONSULTANCY SERVICES
CASH DISBURSEMENTS JOURNAL

Date Debit Debit Debit (Credit) Debit Debit Debit (Credit) Credit

DV No. Check No. Account/s Debited PR Philhealth,

Salaries & Utilities Withholding
2021 Pag-Ibig and Sundry Input Tax CASH
Wages Payable Tax Payable
SSS Payable

3-Jun 2021-09-01 151210 Lyka (302) ₱ 23,000.00 ₱ 23,000.00

6-Jun 2021-09-02 151211 GC Water District a ₱ 1,500.00 1,500.00
6-Jun 2021-09-03 151212 Moresco II a 2,000.00 2,000.00
6-Jun 2021-09-04 151213 BIR a ₱ 5,400.00 5,400.00
10-Jun 2021-09-05 151214 Philhealth a ₱ 3,150.00 3,150.00
10-Jun 2021-09-06 151215 SSS a 7,800.00 7,800.00
10-Jun 2021-09-07 151216 Pag-Ibig a 3,600.00 3,600.00
12-Jun 2021-09-08 151217 Deanne (304) 15,750.00 15,750.00
16-Jun 2021-09-09 151218 Paper Minus Supplies (503) 2,350.00 ₱ 282.00 2,632.00
30-Jun 2021-09-10 151219 Myka Samonte a ₱ 30,000.00 (2,025.00) (1,800.00) 26,175.00
30-Jun 2021-09-11 151220 Mark Salazar a 30,000.00 (2,025.00) (1,800.00) 26,175.00

30-Jun 2021-09-12 151221 Christian CastBorg a 30,000.00 (2,025.00) (1,800.00) 26,175.00

TOTAL ₱ 90,000.00 ₱ 3,500.00 ₱ 8,475.00 ₱ 41,100.00 ₱ 282.00 - ₱ 143,357.00

( 501 ) ( 202 ) ( 204 ) ( X ) ( 107 ) ( 203 ) ( 101 )
 GENERAL JOURNAL

Date Explanation PR Debit Credit

9/30/2021 Utilities Expense 502 ₱ 2,150.00
Utilities Payable 202 ₱ 2,150.00
To record Power Bill for June

9/30/2021 Utilities Expense 502 ₱ 1,122.00

Utilities Payable 202 ₱ 1,122.00
To record Water Bill for June

9/30/2021 Depreciation Expense 505 ₱ 1,250.00

Accu. Depre - ICT Equipment 104 ₱ 1,250.00
To record depreciation for Jun2021

9/30/2021 Depreciation Expense 505 ₱ 2,000.00

Accu. Depre - Office Building 106 ₱ 2,000.00
To record depreciation for Jun2021

9/30/2021 Percentage Tax Expense 508 ₱ 15,090.00

Accrued Percentage Tax Expense 205 ₱ 15,090.00
To record accrual of OPT

9/30/2021 Service Income 401 ₱ 503,000.00

Income Summary 507 ₱ 503,000.00
To close income to Income summary account

9/30/2021 Income Summary 507 ₱ 233,912.00

Salaries and Wages 501 ₱ 180,000.00
Utilities Expense 502 9,772.00
Supplies Expense 503 2,350.00
PhilHealth, Pag-Ibig and SSS Contributions
504 16,950.00
Depreciation Expense 505 9,750.00
Percentage Tax Expense 508 15,090.00
To close expenses to Income summary account

9/30/2021 Income Summary 507 ₱ 269,088.00

Lyka, Capital 301 ₱ 134,544.00
Deanne, Capital 303 134,544.00
To close income summary to capital

9/30/2021 Lyka, Capital 301 ₱ 45,500.00

Lyka, Drawings 302 ₱ 45,500.00
To close drawings to capital

9/30/2021 Deanne, Capital 303 ₱ 33,750.00

Deanne, Drawings 304 ₱ 33,750.00
To close drawings to capital

TOTALS ₱ 1,106,862.00 ₱ 1,106,862.00

 GENERAL LEDGER

Account: CASH Code: 101

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 225,000.00 ₱ 225,000.00
30-Jun Cash Receipts CRJ-1 ₱ 81,000.00 ₱ 306,000.00
30-Jun Cash Disbursements CDJ-1 ₱ 143,357.00 ₱ 162,643.00

Account: ACCOUNTS RECEIVABLE Code: 102

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 100,000.00 ₱ 100,000.00
6/30/2021 Service Income RJ-1 ₱ 135,000.00 ₱ 235,000.00
30-Jun Cash Receipts CRJ-1 ₱ 30,000.00 ₱ 205,000.00

Account: ICT EQUIPMENT Code: 103

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 150,000.00 ₱ 150,000.00

Account: ACCUMULATED DEPRECIATION - ICT EQUIPMENT Code: 104

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 10,000.00 ₱ 10,000.00
30-Jun Monthly Depreciation GJ-1 ₱ 1,250.00 ₱ 11,250.00

Account: OFFICE BUILDING Code: 105

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 800,000.00 ₱ 800,000.00

Account: ACCUMULATED DEPRECIATION - OFFICE BUILDING Code: 106

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 16,000.00 ₱ 16,000.00
30-Jun Monthly Depreciation GJ-1 ₱ 2,000.00 ₱ 18,000.00

Account: INPUT TAX Code: 107

Date Particulars PR Debit Credit Balance
6/30/2021 Cash Disbursements CDJ-1 ₱ 282.00 ₱ 282.00

Account: UTILITIES PAYABLE Code: 202

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 3,500.00 ₱ 3,500.00
30-Jun Cash Disbursements CDJ-1 ₱ 3,500.00 ₱ -
30-Jun Power bill GJ-1 ₱ 2,150.00 ₱ 2,150.00
30-Jun Water bill GJ-1 ₱ 1,122.00 ₱ 3,272.00
Account: WITHHOLDING TAXES PAYABLE Code: 203
Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance ₱ 5,400.00 ₱ 5,400.00

Account: PHILHEALTH, PAG-IBIG AND SSS PAYABLE Code: 204

Date Particulars PR Debit Credit Balance
1/6/2021 Beg. Balance a ₱ 14,550.00 ₱ 14,550.00
30-Jun Cash Disbursements CDJ-1 ₱ 8,475.00 ₱ 6,075.00

Account: PHILHEALTH,
Accrued Percentage
PAG-IBIG AND
TaxSSS
Expense
PAYABLE Code: 205
Date Particulars PR Debit Credit Balance
30-Jun OPT accrual GJ-1 ₱ 15,090.00 ₱ 15,090.00

Account: LYKA, CAPITAL Code: 301

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 534,500.00 ₱ 534,500.00
30-Jun Withdrawal GJ-2 ₱ 45,500.00 ₱ 489,000.00
30-Jun Closing entry GJ-2 ₱ 134,544.00 ₱ 623,544.00

Account: LYKA, DRAWINGS Code: 302

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 22,500.00 ₱ 22,500.00
30-Jun Cash Disbursements CDJ-1 ₱ 23,000.00 ₱ 45,500.00
30-Jun Closing entry GJ-2 ₱ 45,500.00 ₱ -

Account:DEANNE, CAPITAL Code: 303

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 534,500.00 ₱ 534,500.00
30-Jun Closing entry GJ-2 ₱ 33,750.00 ₱ 500,750.00
30-Jun Closing entry GJ-2 ₱ 134,544.00 ₱ 635,294.00

Account:DEANNE, DRAWINGS Code: 304

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 18,000.00 ₱ 18,000.00
30-Jun Cash Disbursements CDJ-1 ₱ 15,750.00 ₱ 33,750.00
30-Jun Closing entry GJ-2 ₱ 33,750.00 ₱ -

Account: SERVICE INCOME Code: 401

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 317,000.00 ₱ 317,000.00
30-Jun Service Income RJ-1 ₱ 135,000.00 ₱ 452,000.00
30-Jun Cash Receipts CRJ-1 ₱ 51,000.00 ₱ 503,000.00
30-Jun Closing entry GJ-2 ₱ 503,000.00 ₱ -

Account: SALARIES AND WAGES Code: 501

 Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 90,000.00 ₱ 90,000.00
30-Jun Cash Disbursements CDJ-1 ₱ 90,000.00 ₱ 180,000.00
30-Jun Closing entry GJ-2 ₱ 180,000.00 ₱ -

Account: UTILITIES EXPENSE Code: 502

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 6,500.00 ₱ 6,500.00
30-Jun Power Bill GJ-1 ₱ 2,150.00 ₱ 8,650.00
30-Jun Water Bill GJ-1 ₱ 1,122.00 ₱ 9,772.00
30-Jun Close GJ-2 ₱ 9,772.00 ₱ -
₱ -

Account: SUPPLIES EXPENSE Code: 503

Date Particulars PR Debit Credit Balance
30-Jun Cash Disbursements CDJ-1 ₱ 2,350.00 ₱ 2,350.00
30-Jun Closing entry GJ-2 ₱ 2,350.00 ₱ -

Account: PHILHEALTH, PAG-IBIG AND SSS CONTRIBUTIONS Code: 504

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 16,950.00 ₱ 16,950.00
30-Jun Closing entry GJ-2 ₱ 16,950.00 ₱ -

Account: DEPRECIATION EXPENSE Code: 505

Date Particulars PR Debit Credit Balance
1-Jun Beg. Balance a ₱ 6,500.00 ₱ 6,500.00
30-Jun ICT Eqpt GJ-1 ₱ 1,250.00 ₱ 7,750.00
30-Jun Office bldg GJ-1 ₱ 2,000.00 ₱ 9,750.00
30-Jun Closing entry GJ-2 ₱ 9,750.00 ₱ -

Account: INCOME SUMMARY Code: 507

Date Particulars PR Debit Credit Balance
30-Jun Closing entry GJ-2 ₱ 503,000.00 ₱ 503,000.00
30-Jun Closing entry GJ-2 ₱ 233,912.00 ₱ 269,088.00
30-Jun Closing entry GJ-2 ₱ 269,088.00 ₱ -

Account: INCOME
Percentage
SUMMARY Tax Expense Code: 508
Date Particulars PR Debit Credit Balance
30-Jun OPT Accrual GJ-1 ₱ 15,090.00 ₱ 15,090.00
30-Jun Close GJ-1 ₱ 15,090.00 ₱ -
 LD CONSULTANCY
WORKSHEET
For the Quarter ended June 30, 2021

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Balance Sheet Income Statement
Account Titles
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash ₱ 162,643.00 ₱ 162,643.00 ₱ 162,643.00
Accounts Receivable 205,000.00 205,000.00 205,000.00
ICT Equipment 150,000.00 150,000.00 150,000.00
Accumulated Depreciation - ICT Equipment ₱ 10,000.00 ₱ 1,250.00 - ₱ 11,250.00 ₱ 11,250.00
Office Building 800,000.00 800,000.00 800,000.00
Accumulated Depreciation - Office Building 16,000.00 2,000.00 - 18,000.00 18,000.00
Input Tax 282.00 282.00 282.00
Utilities Payable - 3,272.00 - 3,272.00 3,272.00
Withholding Taxes Payable 5,400.00 - 5,400.00 5,400.00
PhilHealth, Pag-Ibig and SSS Payable 6,075.00 - 6,075.00 6,075.00
Accrued Percentage Tax Expense 15,090.00 15,090.00 15,090.00
Lyka, Capital 534,500.00 - 534,500.00 534,500.00
Lyka, Drawings 45,500.00 45,500.00 45,500.00
Deanne, Capital 534,500.00 - 534,500.00 534,500.00
Deanne, Drawings 33,750.00 33,750.00 33,750.00
Service Income 503,000.00 - 503,000.00 ₱ 503,000.00
Salaries and Wages 180,000.00 180,000.00 ₱ 180,000.00
Utilities Expense 6,500.00 ₱ 3,272.00 9,772.00 9,772.00
Supplies Expense 2,350.00 2,350.00 2,350.00
PhilHealth, Pag-Ibig and SSS Contributions 16,950.00 16,950.00 16,950.00
Depreciation Expense 6,500.00 3,250.00 9,750.00 9,750.00
Percentage Tax Expense 15,090.00 15,090.00 15,090.00

TOTAL ₱ 1,609,475.00 ₱ 1,609,475.00 ₱ 21,612.00 ₱ 21,612.00 ₱ 1,631,087.00 ₱ 1,631,087.00 ₱ 1,397,175.00 ₱ 1,128,087.00 ₱ 233,912.00 ₱ 503,000.00
NET INCOME - - - 269,088.00 269,088.00
Total ₱ 1,397,175.00 ₱ 1,397,175.00 ₱ 503,000.00 ₱ 503,000.00
 LD CONSULTANCY SERVICES
Statement of Financial Position
As of June 30, 2021

ASSETS
Current Assets
Cash ₱ 162,643.00
Accounts Receivable 205,000.00
Input Tax 282.00
Total Current Assets ₱ 367,925.00

Non-Current Assets
ICT Equipment 150,000.00
Accumulated Depreciation - ICT Equipment (11,250.00) 138,750.00
Office Building 800,000.00
Accumulated Depreciation - Office Building (18,000.00) 782,000.00
Total Non-Current Assets ₱ 920,750.00

TOTAL ASSETS ₱ 1,288,675.00

LIABILITIES
Utilities Payable 3,272.00
Withholding Taxes Payable 5,400.00
PhilHealth, Pag-Ibig and SSS Payable 6,075.00
Accrued Percentage Tax Expense 15,090.00
Total Liabilities ₱ 29,837.00

EQUITY
Lyka, Capital 623,544.00
Deanne, Capital 635,294.00
Total Equity ₱ 1,258,838.00

TOTAL LIABILITIES AND EQUITY ₱ 1,288,675.00

-

CASH BALANCE, Jun

 LD CONSULTANCY SERVICES
Statement of Financial Performance
As of June 30, 2021

REVENUES:
Service Income ₱ 503,000.00

TOTAL REVENUE ₱ 503,000.00

EXPENSES:
Salaries & Wages 180,000.00
Utilities Expense 9,772.00
Supplies Expense 2,350.00
PhilHealth, Pag-Ibig and SSS Contributions 16,950.00
Depreciation Expense 9,750.00
Percentage Tax Expense 15,090.00
TOTAL EXPENSES ₱ 233,912.00

NET INCOME/(LOSS) ₱ 269,088.00

LD CONSULTANCY SERVICES
Statement of Cash Flows
As of June 30, 2021

CASH INFLOWS:
Collection of Accounts Receivable ₱ 30,000.00
Cash received from customers 51,000.00

Total Cash Inflows: ₱ 81,000.00

CASH OUTFLOWS:
Payment of Salaries ₱ 78,525.00
Remittance of Withholding Taxes 5,400.00
Remittance of Philhealth, Pag-Ibig and SSS Payable 14,550.00
Payment of Utilities 3,500.00
Payment of Supplies 2,632.00
Payment of Withdrawals 38,750.00

Total Cash Outflows: ₱ 143,357.00

Net Cash Inflows/(Outflows) (62,357.00)

Add: Cash Balance, Beginning 225,000.00

CASH BALANCE, June 30, 2021 ₱ 162,643.00

-
 LD CONSULTANCY SERVICES
Statement of Changes in Equity
As of June 30, 2021

LYKA DEANNE TOTALS

Balance, Beginning ₱ 534,500.00 ₱ 534,500.00 ₱ 1,069,000.00
Less: Drawings (45,500.00) (33,750.00) (79,250.00)
Add/Less: Net Incmome/(Loss) 134,544.00 134,544.00 ₱ 269,088.00
Balance, Ending ₱ 623,544.00 ₱ 635,294.00 ₱ 1,258,838.00

LD CONSULTANCY SERVICES
POST CLOSING TRIAL BALANCE
As of June 30, 2021

Account Title Code Debit Credit

Cash 101 ₱ 162,643.00
Accounts Receivable 102 205,000.00
ICT Equipment 103 150,000.00
Accumulated Depreciation - ICT Equipment 104 ₱ 11,250.00
Office Building 105 800,000.00
Accumulated Depreciation - Office Building 106 18,000.00
Input Tax 107 282.00
Utilities Payable 202 3,272.00
Withholding Taxes Payable 203 5,400.00
PhilHealth, Pag-Ibig and SSS Payable 204 6,075.00
Accrued Percentage Tax Expense 205 15,090.00
Lyka, Capital 301 623,544.00
Deanne, Capital 303 635,294.00
₱ 1,317,925.00 ₱ 1,317,925.00
-