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Account Title

Cash 3,000,000 Cash


Capital 3,000,000 Accounts Receivable
Equipment
Equipment 1,000,000 Loans Payable
Capital 1,000,000 Capital
Drawings
Cash 500,000 Service Income
Loans Payable 500,000 Salaries Expense
Utilities Expense
Insurance Expense 160,000 Supplies Expense
Cash 160,000 Insurance Expense
Balance
Cash 2,000,000 Net Income
Accounts Receivable 4,000,000 Balance
Service Income 6,000,000

Cash 1,800,000 1. Communicating


Accounts Receivable 1,800,000 2. Journalizing
3. Auditing
Salaries Expense 1,200,000 4. Government Accounting
Cash 1,200,000 5. Accounting Education/ Academe
6. Management Accounting
Utilities Expense 500,000 7. Financial Reporting Standards Council
Cash 500,000 8. Bureau of Internal Revenue
9. Assets = Liabilities + Equity+ Income - Expenses
Supplies Expense 120,000 10. Income
Cash 120,000

Drawings 1,400,000
Cash 1,400,000

Checking: 15,680,000 15,680,000


Debit Credit Debit Credit Debit Credit
3,920,000 3,920,000
2,200,000 2,200,000
1,000,000 1,000,000
500,000 500,000
4,000,000 4,000,000
1,400,000 1,400,000
6,000,000 6,000,000
1,200,000 1,200,000
500,000 500,000
120,000 120,000
160,000 160,000
10,500,000 10,500,000 1,980,000 6,000,000
4,020,000 4,020,000
8,520,000 8,520,000

ation/ Academe

ng Standards Council

s + Equity+ Income - Expenses


Cash 2,000,000
Capital 2,000,000

Equipment 1,000,000
Capital 1,000,000

Cash 500,000
Loans Payable 500,000

Prepaid Insurance 160,000


Cash 160,000

Cash 2,000,000
Accounts Receivable 4,000,000
Service Income 6,000,000

Cash 1,800,000
Accounts Receivable 1,800,000

Salaries Expense 1,200,000


Cash 1,200,000

Utilities Expense 500,000


Cash 500,000

Supplies Expense 120,000


Cash 120,000

Drawings 1,400,000
Cash 1,400,000

Checking: 14,680,000 14,680,000


Account Title Debit Credit Debit Credit Debit
Cash 2,920,000 2,920,000
Accounts Receivable 2,200,000 2,200,000
Prepaid Insurance 160,000
Equipment 1,000,000 1,000,000
Loans Payable 500,000
Capital 3,000,000
Drawings 1,400,000 1,400,000
Service Income 6,000,000 6,000,000
Salaries Expense 1,200,000 1,200,000
Utilities Expense 500,000 500,000
Supplies Expense 120,000 120,000
Insurance Expense - -
Balance 9,500,000 9,500,000 1,820,000 6,000,000
Net Income 4,180,000
Balance 7,520,000

1. Separate Concept Entity


2. Going Concern
3. Auditing
4. Government Accounting
5. Accounting Education/ Academe
6. Management Accounting
7. Financial Reporting Standards Council
8. Bureau of Internal Revenue
9. Assets = Liabilities + Equity+ Income - Expenses
10. Income
Credit

500,000
3,000,000

4,180,000
7,680,000