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General Journal page no.

Date Account Titles and Explanation F Debit Credit


2014
Dec 1 Cash 111 8,000
Josie Cacdac, capital 311 8,000
To record the initial investment of
J. Cacdac.

1 Sewing Machines 119 6,000


Cash 111 1,500
Accounts payable - Rufino Merchandinsing 212 4,500
Sewing machines bought. Terms:
1,500 down, bal. payable w/in 60 days.

1 Prepaid rent 116 3,000


Cash 111 3,000
Payment of the shop space rental
for the months of Dec, Jan & Feb.

1 Insurance expense 513 570


Cash 111 570
Payment of a one-year insurance
policy.

3 Sewing Tools 118 590


Sewing supplies 114 270
Accounts payable - Virgilio Trading 211 860
Purchase of tools and supplies on
credit.

5 Cash 111 120


Service income 411 120
Cash received for a terno delivered.

7 Accounts receivable - Flor Valdez 112 500


Service income 411 500
Services rendered on credit.

10 Clothing Materials 115 1,500


Cash 111 1,500
Purchase of clothing materials.
page no. 2
13 Cash 111 1,250
Service income 411 1,250
Cash received from various customers
for services rendered.

14 Accounts payable - Rufino Merchandising 212 4,500


Cash 111 1,500
Notes payable 213 3,000
Settlement of the account due to
Rufino Merchandising.

15 Wages 511 250


Cash 111 250
Wages of the shop helper for the first
half of the month.

17 Josie Cacdac, personal 312 500


Cash 111 500
Drawing of the owner for personal
use.

18 Cash 111 200


Accounts receivable - F. Valdez 112 200
Partial payment of F. Valdez.

20 Cash 111 1,475


Service income 411 1,475
Cash received from customers for
services rendered.

22 Wages 511 250


Cash 111 250
Wages of the shop helper for the
second half of the month.

23 Accounts receivable - Julius Ilagan 113 400


Service income 411 400
Services rendered on account.

27 Utility expense 512 150


Telephone and communication expense 514 250
Cash 111 400
Payment of monthly utility
and telephone bills.
CASH Acct no. 11

Date Explanation F Debit Date Explanation F


2014 2014
Dec. 1 Initial Investment J-1 8,000 Dec. 1 Sewing equipt. J-1
5 Service income J-1 120 1 Rental payment J-1
13 Service income J-2 1,250 1 Insurance payment J-1
18 Partial payment of F. Valdez J-2 200 10 Clothing materials J-1
20 Service income J-2 1,475 14 Payt to Rufino Mdsg. J-2
11,045 15 Wages J-2
17 Drawing J-2
22 Wages J-2
27 Utility & Tel. J-2

Balance
11,045
1,575

ACCOUNTS RECEIVABLE - FLOR VALDEZ Acct no. 11


Date Explanation F Debit Date Explanation F
2014 2014
Dec. 7 Service income J-1 500 Dec. 18 Partial payment J-2
500 Balance
300

ACCOUNTS RECEIVABLE - JULIUS ILAGAN Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 23 Service income J-2 400

SEWING SUPPLIES Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 3 Purchase J-1 270

CLOTHING MATERIALS Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 10 Purchase J-1 1,500
PREPAID RENT Acct no. 11
Date Explanation F Debit Date Explanation F
2014
Dec. 1 Rental for 3 months J-1 3,000

PREPAID INSURANCE Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 31 AJE 6 J-1

SEWING TOOLS Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 3 Purchase J-1 590

SEWING EQUIPMENT Acct no. 11


Date Explanation F Debit Date Explanation F
2014
Dec. 1 Purchase J-1 6,000

ESTIMATED UNCOLLECTIBLE ACCOUNTS Acct no. 113


Date Explanation F Debit Date Explanation F

ACCUMULATED DEPRECIATION - SEWING MACHINES Acct no. 119


Date Explanation F Debit Date Explanation F
ACCOUNTS PAYABLE - VIRGILIO TRADING Acct no. 21
Date Explanation F Debit Date Explanation F
2014
Dec. 3 Tools and supplies J-1

ACCOUNTS PAYABLE - RUFINO MERCHANDISING Acct no. 21


Date Explanation F Debit Date Explanation F
2014 2014
Dec. 14 J-2 4,500 Dec. 1 Sewing equipt. J-1

NOTES PAYABLE Acct no. 21


Date Explanation F Debit Date Explanation F
2014
Dec. 14 Payment to Rufino Mdsg J-2

ACCRUED INTEREST PAYABLE Acct no. 21


Date Explanation F Debit Date Explanation F

J. CACDAC, CAPITAL Acct no. 31


Date Explanation F Debit Date Explanation F
2014
Dec. 1 Initial investment J-1

J. CACDAC, PERSONAL Acct no. 31


Date Explanation F Debit Date Explanation F
2014
Dec. 17 J-2 500
31 CE 4

SERVICE INCOME Acct no. 41


Date Explanation F Debit Date Explanation F
2014 2014
Dec. 31 CE 1 Dec. 5 J-1
7 F. Valdez J-1
13 J-2
20 J-2
23 J-2

WAGES Acct no. 51


Date Explanation F Debit Date Explanation F
2014
Dec. 15 First half of the month J-2 250
22 Second half of the month J-2 250
500

UTILITY EXPENSE Acct no. 51


Date Explanation F Debit Date Explanation F
2014
Dec. 27 J-2 150

INSURANCE EXPENSE Acct no. 51


Date Explanation F Debit Date Explanation F
2014
Dec. 1 1 year policy J-1 570

TELEPHONE AND COMMUNICATION EXPENSE Acct no. 51


Date Explanation F Debit Date Explanation F
2014
Dec. 27 J-2 250

SEWING SUPPLIES USED Acct no. 51


Date Explanation F Debit Date Explanation F

CLOTHING MATERIALS USED Acct no. 51


Date Explanation F Debit Date Explanation F

RENT EXPENSE Acct no. 51


Date Explanation F Debit Date Explanation F

DEPRECIATION - SEWING EQUIPMENT Acct no. 51


Date Explanation F Debit Date Explanation F

BAD DEBTS Acct no. 52


Date Explanation F Debit Date Explanation F

INTEREST EXPENSE Acct no. 51


Date Explanation F Debit Date Explanation F

REVENUE AND EXPENSE SUMMARY Acct no. 31


Date Explanation F Debit Date Explanation F
Acct no. 111

Debit

1,500
3,000
570
1,500
1,500
250
500
250
400
9,470
1,575
11,045

Acct no. 112


Debit

200
300
500

Acct no. 113


Debit

Acct no. 114


Debit

Acct no. 115


Debit
Acct no. 116
Debit

Acct no. 117


Debit

Acct no. 118


Debit

Acct no. 119


Debit

Acct no. 113a


Debit

Acct no. 119a


Debit
Acct no. 211
Debit

860

Acct no. 212


Debit

4,500

Acct no. 213


Debit

3,000

Acct no. 214


Debit

Acct no. 311


Debit

8,000

Acct no. 312


Debit

Acct no. 411


Debit

120
500
1,250
1,475
400
3,745

Acct no. 511


Debit

Acct no. 512


Debit

Acct no. 513


Debit

Acct no. 514


Debit

Acct no. 515


Debit

Acct no. 516


Debit

Acct no. 517


Debit

Acct no. 519


Debit

Acct no. 520


Debit

Acct no. 518


Debit

Acct no. 313


Debit
J.C. MEN'S WEAR SHOP
Trial Balance
December 31, 2014

Accounts Debit Credit

Cash 1,575.00
Accounts Receivable - Flor Valdez 300.00
Accounts Receivable - Julius Ilagan 400.00
Sewing Supplies 270.00
Clothing Materials 1,500.00
Sewing Tools 590.00
Prepaid Rent 3,000.00
Sewing Equipment 6,000.00
Accounts Payable - Virgilio Trading 860.00
Notes Payable 3,000.00
J. Cacdac, capital 8,000.00
J. Cacdac, personal 500.00
Service Income 3,745.00
Wages 500.00
Utility Expense 150.00
Insurance Expense 570.00
Telephone and Communication Expense 250.00
15,605 15,605
Adjusting Journal Entries

Debit Credit
1 Depreciation - Sewing Machines 519 100.00
Accumulated Depreciation - Sewing Machines 119a 100.00
(P6,000 ÷ 5 x 1/12)

2 Sewing supplies used 515 100.00


Sewing supplies 114 100.00
Sewing supplies 270
Less: Supplies on Hand 170
Sewing supplies used 100

3 Bad debts 520 35.00


Estimated uncollectible accounts 113a 35.00
(P300+400) x .05) = 35

4 Clothing materials used 516 800.00


Clothing materials 115 800.00
Clothing materials 1500
Less: Clothing materials on hand 700
Clothing materials used 800

5 Rent Expense 517 1,000.00


Prepaid rent 116 1,000.00
Prepaid rent, beginning 3000
Less: December rent 1000
Balance, end 2000

6 Prepaid insurance 117 522.50


Insurance expense 513 522.50
570 x 11/12 = 522.50

7 Interest expense 518 7.50


Accrued interest expense 214 7.50
3,000 x .06 x 15/360 = 7.50
CASH

Date Explanation F Debit Date Explanation


2014 2014
Dec. 1 Initial Investment J-1 8,000.00 Dec. 1 Sewing equipt.
5 Service income J-1 120.00 1 Rental payment
13 Service income J-2 1,250.00 1 Insurance payment
18 Partial payment of F. Valdez J-2 200.00 10 Clothing materials
20 Service income J-2 1,475.00 14 Payt to Rufino Mdsg.
11,045.00 15 Wages
17 Drawing
22 Wages
27 Utility & Tel.

Balance
11,045.00
1,575.00

ACCOUNTS RECEIVABLE - FLOR VALDEZ


Date Explanation F Debit Date Explanation
2014 2014
Dec. 7 Service income J-1 500.00 Dec. 18 Partial payment
500.00 Balance
300.00

ACCOUNTS RECEIVABLE - JULIUS ILAGAN


Date Explanation F Debit Date Explanation
2014
Dec. 23 Service income J-2 400.00

ESTIMATED UNCOLLECTIBLE ACCOUNTS


Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 3

SEWING SUPPLIES
Date Explanation F Debit Date Explanation
2014 2014
Dec. 3 Purchase J-1 270.00 Dec. 31 AJE 2
Balance
270.00
170.00

CLOTHING MATERIALS
Date Explanation F Debit Date Explanation
2014 2014
Dec. 10 Purchase J-1 1,500.00 Dec. 31 AJE 4
Balance
1,500.00
700.00

PREPAID RENT
Date Explanation F Debit Date Explanation
2014 2014
Dec. 1 Rental for 3 months J-1 3,000.00 Dec. 31 AJE 5
Balance
3,000.00
2,000.00

PREPAID INSURANCE
Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 6 J-1 522.50

SEWING TOOLS
Date Explanation F Debit Date Explanation
2014
Dec. 3 Purchase J-1 590.00

SEWING EQUIPMENT
Date Explanation F Debit Date Explanation
2014
Dec. 1 Purchase J-1 6,000.00
ACCUMULATED DEPRECIATION - SEWING EQUIPMENT
Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 1

ACCOUNTS PAYABLE - VIRGILIO TRADING


Date Explanation F Debit Date Explanation
2014
Dec. 3 Tools and supplies

ACCOUNTS PAYABLE - RUFINO MERCHANDISING


Date Explanation F Debit Date Explanation
2014 2014
Dec. 14 J-2 4,500.00 Dec. 1 Sewing equipt.
Balance
4,500.00
-

NOTES PAYABLE
Date Explanation F Debit Date Explanation
2014
Dec. 14 Payment to Rufino Mdsg

ACCRUED INTEREST PAYABLE


Date Explanation F Debit Date Explanation
2014
Dec. 14 AJE 7

J. CACDAC, CAPITAL
Date Explanation F Debit Date Explanation
2014
Dec. 1 Initial investment
31 CE 4

J. CACDAC, PERSONAL
Date Explanation F Debit Date Explanation
2014
Dec. 17 J-2 500.00

SERVICE INCOME
Date Explanation F Debit Date Explanation
2014
Dec. 5
7 F. Valdez
13
20
23

WAGES
Date Explanation F Debit Date Explanation
2014
Dec. 15 First half of the month J-2 250.00
22 Second half of the month J-2 250.00
500.00

UTILITY EXPENSE
Date Explanation F Debit Date Explanation
2014
Dec. 27 J-2 150.00

INSURANCE EXPENSE
Date Explanation F Debit Date Explanation
2014 2014
Dec. 1 1 year policy J-1 570.00 Dec. 31 AJE 6
Balance
570.00
47.50

TELEPHONE AND COMMUNICATION EXPENSE


Date Explanation F Debit Date Explanation
2014
Dec. 27 J-2 250.00

SEWING SUPPLIES USED


Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 4 100.00

CLOTHING MATERIALS USED


Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 4 800.00

RENT EXPENSE
Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 5 1,000.00

DEPRECIATION - SEWING EQUIPMENT


Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 1 100.00
BAD DEBTS
Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 3 35.00

INTEREST EXPENSE
Date Explanation F Debit Date Explanation
2014
Dec. 31 AJE 7 7.50

REVENUE AND EXPENSE SUMMARY


Date Explanation F Debit Date Explanation
Acct no. 111

F Debit

J-1 1,500.00
J-1 3,000.00
J-1 570.00
J-1 1,500.00
J-2 1,500.00
J-2 250.00
J-2 500.00
J-2 250.00
J-2 400.00
9,470.00
1,575.00
11,045.00

Acct no. 112


F Debit

J-2 200.00
300.00
500.00

Acct no. 113


F Debit

Acct no. 113a


F Debit

35.00

Acct no. 114


F Debit
100.00
170.00
270.00

Acct no. 115


F Debit

800.00
700.00
1,500.00

Acct no. 116


F Debit

1,000.00
2,000.00
3,000.00

Acct no. 117


F Debit

Acct no. 118


F Debit

Acct no. 119


F Debit
Acct no. 119a
F Debit

100.00

Acct no. 211


F Debit

J-1 860.00

Acct no. 212


F Debit

J-1 4,500.00
-
4,500.00

Acct no. 213


F Debit

J-2 3,000.00

Acct no. 214


F Debit

7.50

Acct no. 311


F Debit

J-1 8,000.00
Acct no. 312
F Debit

Acct no. 411


F Debit

J-1 120.00
J-1 500.00
J-2 1,250.00
J-2 1,475.00
J-2 400.00
3,745.00

Acct no. 511


F Debit

Acct no. 512


F Debit

Acct no. 513


F Debit

522.50
47.50
570.00

Acct no. 514


F Debit

Acct no. 515


F Debit

Acct no. 516


F Debit

Acct no. 517


F Debit

Acct no. 519


F Debit
Acct no. 520
F Debit

Acct no. 518


F Debit

Acct no. 313


F Debit
J.C. MEN'S WEAR SHOP
Trial Balance
December 31, 2014

Adjusted Trial Balance


Accounts Debit Credit

Cash 1,575.00
Accounts Receivable - Flor Valdez 300.00
Accounts Receivable - Julius Ilagan 400.00
Estimated uncollectible accounts 35.00
Sewing Supplies 170.00
Clothing Materials 700.00
Prepaid Rent 2,000.00
Prepaid Insurance 522.50
Sewing Tools 590.00
Sewing Equipment 6,000.00
Accumulated Depreciation - sewing machines 100.00
Accounts Payable - Virgilio Trading 860.00
Accrued interest expenses 7.50
Notes Payable 3,000.00
J. Cacdac, capital 8,000.00
J. Cacdac, personal 500.00
Service Income 3,745.00
Wages 500.00
Utility Expense 150.00
Insurance Expense 47.50
Telephone and Communication Expense 250.00
Sewing supplies used 100.00
Clothing materials used 800.00
Rent expense 1,000.00
Depreciation - sewing equipment 100.00
Bad debts 35.00
Interest expense 7.50
15,747.50 15,747.50
J.C. MEN'S WEAR SHOP
Income Statement
For the Period Ending December 31, 2014

Service Income 3,745.00


Less: Operating Expenses
Rent expense 1,000.00
Clothing materials used 800.00
Wages 500.00
Telephone and Communication Expense 250.00
Utility Expense 150.00
Sewing supplies used 100.00
Depreciation - sewing equipment 100.00
Insurance Expense 47.50
Bad debts 35.00
Interest expense 7.50 2,990.00
Net Profit 755.00
J.C. MEN'S WEAR SHOP
Balance Sheet
As of December 31, 2014

Assets
Current
Cash 1,575.00
Accounts Receivable - Flor Valdez 300.00
Accounts Receivable - Julius Ilagan 400.00
Total Receivables 700.00
Less: Estimated Uncollectible Accounts 35.00 665.00
Sewing Supplies 170.00
Clothing Materials 700.00
Prepaid Rent 2,000.00
Prepaid Insurance 522.50
Total Current Assets 5,632.50

Properties and Equipment


Sewing Tools 590.00
Sewing Equipment 6,000.00
Less: Accumulated Depreciation 100.00 5,900.00
Total Properties and Equipment 6,490.00
Total Assets 12,122.50

Liabilities

Accounts Payable - Virgilio Trading 860.00


Notes Payable 3,000.00
Accrued interest expenses 7.50
Total Liabilities 3,867.50

Owner's Equity

J. Cacdac, capital 8,000.00


J. Cacdac, personal (500.00)
Net Capital 7,500.00
Add: Net Profit 755.00
Total Capital 8,255.00
Total Liabilities and Owner's Equity 12,122.50
-
Closing Entries

Debit Credit
1 Service Income 3,745
Revenue and Expense Summary 3,745
To close the income account to the
Revenue and Expense Summary Account.

2 Revenue and Expense Summary 2,990


Rent expense 1,000.00
Clothing materials used 800.00
Wages 500.00
Telephone and Communication Expense 250.00
Utility Expense 150.00
Sewing supplies used 100.00
Depreciation - sewing machines 100.00
Insurance Expense 47.50
Bad debts 35.00
Interest expense 7.50
To close the expense accounts to the
Revenue and Expense Summary Account.

3 Revenue and Expense Summary 755


J. Cacdac, capital 755
To close the Revenue and Expense Summary
account to J. Cacdac, capital.

4 J. Cacdac, capital 500


J. Cacdac, personal 500
To close the personal account to the
capital account.
CASH Acct no. 111

Date Explanation F Debit Date Explanation F Debit


2014 2014
Dec. 1 Initial Investment J-1 8,000.00 Dec. 1 Sewing equipt. J-1 1,500.00
5 Service income J-1 120.00 1 Rental payment J-1 3,000.00
13 Service income J-2 1,250.00 1 Insurance payment J-1 570.00
18 Partial payment of F. Valdez J-2 200.00 10 Clothing materials J-1 1,500.00
20 Service income J-2 1,475.00 14 Payt to Rufino Mdsg. J-2 1,500.00
11,045.00 15 Wages J-2 250.00
17 Drawing J-2 500.00
22 Wages J-2 250.00
27 Utility & Tel. J-2 400.00
9,470.00
Balance 1,575.00
11,045.00 11,045.00
1,575.00

ACCOUNTS RECEIVABLE - FLOR VALDEZ Acct no. 112


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 7 Service income J-1 500.00 Dec. 18 Partial payment J-2 200.00
500.00 Balance 300.00
300.00 500.00

ACCOUNTS RECEIVABLE - JULIUS ILAGAN Acct no. 113


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 23 Service income J-2 400.00

ESTIMATED UNCOLLECTIBLE ACCOUNTS Acct no. 113a


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 31 AJE 3 35.00

SEWING SUPPLIES Acct no. 114


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 3 Purchase J-1 270.00 Dec. 31 AJE 2 100.00
Balance 170.00
270.00 270.00
170.00

CLOTHING MATERIALS Acct no. 115


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 10 Purchase J-1 1,500.00 Dec. 31 AJE 4 800.00
Balance 700.00
1,500.00 1,500.00
700.00

PREPAID RENT Acct no. 116


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 1 Rental for 3 months J-1 3,000.00 Dec. 31 AJE 5 1,000.00
Balance 2,000.00
3,000.00 3,000.00
2,000.00

PREPAID INSURANCE Acct no. 117


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 31 AJE 6 J-1 522.50

SEWING TOOLS Acct no. 118


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 3 Purchase J-1 590.00

SEWING EQUIPMENT Acct no. 119


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 1 Purchase J-1 6,000.00

ACCUMULATED DEPRECIATION - SEWING MACHINES Acct no. 119a


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 31 AJE 1 100.00

ACCOUNTS PAYABLE - VIRGILIO TRADING Acct no. 211


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 3 Tools and supplies J-1 860.00

ACCOUNTS PAYABLE - RUFINO MERCHANDISING Acct no. 212


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 14 J-2 4,500.00 Dec. 1 Sewing equipt. J-1 4,500.00
Balance -
4,500.00 4,500.00
-
NOTES PAYABLE Acct no. 213
Date Explanation F Debit Date Explanation F Debit
2014
Dec. 14 Payment to Rufino Mdsg J-2 3,000.00

ACCRUED INTEREST PAYABLE Acct no. 214


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 14 AJE 7 7.50

J. CACDAC, CAPITAL Acct no. 311


Date Explanation F Debit Date Explanation F Debit
2014
Dec. 1 Initial investment J-1 8,000.00
31 CE 4 755.00
8,755.00

J. CACDAC, PERSONAL Acct no. 312


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 17 J-2 500.00 Dec. 31 CE 4 500.00

SERVICE INCOME Acct no. 411


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 CE 1 3,745.00 Dec. 5 J-1 120.00
7 F. Valdez J-1 500.00
13 J-2 1,250.00
20 J-2 1,475.00
23 J-2 400.00
3,745.00

WAGES Acct no. 511


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 15 First half of the month J-2 250.00 Dec. 31 CE 2 500.00
22 Second half of the month J-2 250.00
500.00

UTILITY EXPENSE Acct no. 512


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 27 J-2 150.00 Dec. 31 CE 2 150.00
INSURANCE EXPENSE Acct no. 513
Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 1 1 year policy J-1 570.00 Dec. 31 AJE 6 522.50
31 CE 2 47.50
570.00

TELEPHONE AND COMMUNICATION EXPENSE Acct no. 514


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 27 J-2 250.00 Dec. 31 CE 2 250.00

SEWING SUPPLIES USED Acct no. 515


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 4 100.00 Dec. 31 CE 2 100.00

CLOTHING MATERIALS USED Acct no. 516


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 4 800.00 Dec. 31 CE 2 800.00

RENT EXPENSE Acct no. 517


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 5 1,000.00 Dec. 31 CE 2 1,000.00

INTEREST EXPENSE Acct no. 518


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 7 7.50 Dec. 31 CE 2 7.50

DEPRECIATION - SEWING EQUIPMENT Acct no. 519


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 1 100.00 Dec. 31 CE 2 100.00

BAD DEBTS Acct no. 520


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 AJE 3 35.00 Dec. 31 CE 2 35.00

REVENUE AND EXPENSE SUMMARY Acct no. 313


Date Explanation F Debit Date Explanation F Debit
2014 2014
Dec. 31 CE 2 2,990.00 Dec. 31 CE 1 3,745.00
31 CE 3 755.00
3,745.00
-
J.C. MEN'S WEAR SHOP
Trial Balance
December 31, 2014

Post Closing TB
Accounts Debit Credit

Cash 1,575.00
Accounts Receivable - Flor Valdez 300.00
Accounts Receivable - Julius Ilagan 400.00
Estimated uncollectible accounts 35.00
Sewing Supplies 170.00
Clothing Materials 700.00
Prepaid Rent 2,000.00
Prepaid Insurance 522.50
Sewing Tools 590.00
Sewing Equipment 6,000.00
Accumulated Depreciation - sewing equipment 100.00
Accounts Payable - Virgilio Trading 860.00
Notes Payable 3,000.00
Accrued interest expenses 7.50
J. Cacdac, capital 8,755.00
12,257.50 12,757.50