Accounting 2 Prob

The Perfect Gentleman Barbershop
General Journal
Date Account Title and Explanation Ref.

2019
Sept 1 Cash
Owner's, Capital
Francis invested P50000 cash to put up the business
1 Supplies
Cash
Purchase of shampoo, hair spa, hot oil, shaving cream, aftershave lotion
1 Supplies
Cash
Purchase of nail polish, cuticle remover, lotion, nail gel
20 Prepaid Salaries
Cash
Advance payment to one grooming specialist
30 Salaries Expense
Cash
Payment of wages for grooming specialists
30 Salaries Expense
Cash
Payment of wages for enhancement assistants
30 Cash
Service Income
Services rendered by grooming specialists for the month
30 Cash
Service Income
Services rendered by the enhancement assistants for the month
30 Rent expense
Cash
Payment for the rental of the salon space
30 Utilities Expense
Cash
Payment for utilities
ADJUSTMENTS
30 Salaries Expense
Prepaid Expense
Paid advance payment employee salary
Debit Credit
₱50,000
₱50,000
9,885
9,885
rshave lotion
6,575
6,575
2500
2500
21,500
21,500
38,400
38,400
73,700
73,700
67,700
67,700
15,000
15,000
3,575
3575
2500
2500
General Ledger
Account Name:
Date
2019
Sept 1
1
1
20
30
30
30
30
30
30
Account Name:
Date
2019
Sept 1
1
Account Name:
Date
2019
Sept 20
Account Name:
Date
2019
Sept 1
Account Name:
Date
2019
Sept 30
30
Account Name:
Date
2019
Sept 30
Account Name:
Date
2019
Sept 30
Account Name:
Date
2019
Sept 30
30
General Ledger
Cash
Explanation Ref # Debit
Francis invested P50000 cash to put up the business GJ 1 ₱ 50,000

Purchase of shampoo, hair spa, hot oil, shaving cream, aftershave lotion GJ 1
Purchase of nail polish, cuticle remover, lotion, nail gel GJ 1
Advance payment to one grooming specialist GJ 1
Payment of wages for grooming specialists GJ 1
Payment of wages for enhancement assistants GJ 1
Services rendered by grooming specialists for the month GJ 1 ₱ 73,700
Services rendered by the enhancement assistants for the month GJ 1 ₱ 67,700
Payment for the rental of the salon space GJ 1
Payment for utilities GJ 1
₱ 191,400
Supplies
Explanation Ref # Debit
Purchase of shampoo, hair spa, hot oil, shaving cream, aftershave lotion GJ 1 ₱ 9,885
Purchase of nail polish, cuticle remover, lotion, nail gel GJ 1 ₱ 6,575
Prepaid Salaries
Explanation Ref Debit
Advance payment to one grooming specialist GJ 1 ₱ 2,500
Owner's Capital
Francis invested P50000 cash to put up the business GJ 1
Service Income

Services rendered by grooming specialists for the month GJ 1
Services rendered by the enhancement assistants for the month
Rent Expense
Payment for the rental of the salon space GJ 1 ₱ 15,000
Utilities Expense
Payment for utilities GJ 1 ₱ 3,575
Salaries Expense
Payment of wages for grooming specialists GJ 1 ₱ 21,500

Payment of wages for enhancement assistants ₱ 38,400
Account No. 101
Credit Balance
₱ 50,000
₱ 9,885 ₱ 40,115
₱ 6,575 ₱ 33,540
₱ 2,500 ₱ 31,040
₱ 21,500 ₱ 9,540
₱ 38,400 -₱ 28,860
₱ 44,840
₱ 112,540
₱ 15,000 ₱ 97,540
₱ 3,575 ₱ 93,965
₱ 97,435 ₱ 93,965
Account No. 102
Credit Balance
₱ 9,885
₱ 16,460
₱ 16,460
Account No. 301
Credit Balance
₱ 2,500
Account No. 301
Credit Balance
₱ 50,000 ₱ 50,000
Account No. 401
Credit Balance
₱ 73,700 ₱ 73,700
₱ 67,700 ₱ 141,400
₱ 141,400
Account No. 501
Credit Balance
₱ 15,000
Account No. 502
Credit Balance
₱ 3,575
Account No. 503
Credit Balance
₱ 21,500
₱ 59,900
₱ 59,900
Worksheet
For the month of September 2019
TRIAL BALANCE Adjustments Adjusted Trial Balance

Debit Credit Debit Credit Debit
Cash 93,965.00 93,965.00
Supplies 16,460.00 16,460.00
Prepaid Salaries 2,500.00 2500 -
Owner's Capital 50,000.00
Service Income 141,400.00
Rent Expense 15,000.00 15,000.00
Utilities Expense 3,575.00 3,575.00
Salaries Expense 59,900.00 2500 62,400.00
191,400.00 191,400.00 191,400.00
Net Income
ershop
r 2019
Adjusted Trial Balance Income Statement

Credit Debit Credit
50,000.00
141,400.00 141,400.00
15,000.00
3,575.00
62,400.00
191,400.00 80,975.00 141,400.00
60,425.00
141,400.00 141,400.00
The Perfect Gentleman BarberShop
INCOME STATEMENT
For the month of September 2019
REVENUE
Service Income P 141,400.00
Less: Operating Expenses

Rent Expense P 15,000.00
Utilities Expense 3,575.00
Salaries Expense 62,400.00
Total Expenses 80,975.00
Net Income P 60,425.00

Accounting 2 Prob

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The Perfect Gentleman Barbershop

Date Account Title and Explanation Ref.

Explanation Ref # Debit

Francis invested P50000 cash to put up the business GJ 1 ₱ 50,000

Explanation Ref # Debit

Explanation Ref Debit

Advance payment to one grooming specialist GJ 1 ₱ 2,500

Explanation Ref Debit

Francis invested P50000 cash to put up the business GJ 1

Explanation Ref Debit

Explanation Ref Debit

Payment for the rental of the salon space GJ 1 ₱ 15,000

Explanation Ref Debit

Payment for utilities GJ 1 ₱ 3,575

Explanation Ref Debit

Payment of wages for grooming specialists GJ 1 ₱ 21,500

Account No. 301

Account No. 401

Account No. 501

Account No. 502

Account No. 503

TRIAL BALANCE Adjustments Adjusted Trial Balance

Adjusted Trial Balance Income Statement

Less: Operating Expenses

Net Income P 60,425.00

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