1. XYZ Repair Shop
Mr. Co - Owner
Feb. 2011
General Journal
Page: 1
2010 Explanation F Debit Credit
Feb. 1 Cash GL-1 P 10,000
Mr. Co, Capital P 10,000
Initial Investment.
XYZ Repair Shop
Mr. Co – Owner
Feb. 2011
General Ledger
CASH
Page: 1
Amoun
2010 Explanation F Amount 2010 Explanation
t
Feb 1 Initial Investment GJ- P 10,000
. 1

2. EU EQ
 Being systematic is  When is an entry
sure success. good and when is it
 Carefulness is next not?
to exactness

4. ________________
________________
_
________________
_
________________
_ __________
_
________________
_ __________
_
________________
_ ___________
________________
_ ___________
________________
_ ___________
________________
_ __________
_
________________
_ __________
________________
_ _
__________
_
________________
_ __________
_
_
_______ _______ _______

5. Durable Electrical
Mr. Co – Owner
February 2011
TRIAL BALANCE
Cash P 9, 350
Receivable – A Trading P 1, 200
Furniture P 3, 000
Payable – X P 3, 000
Co, Capital P 10, 000
Repairs Income P 4, 000
Rent Expense P 2, 000
Salary Expense P 600
Supplies Expense P 500
Telephone Expense P 200
Utilities Expense P 150
TOTAL: P 17, 000 P 17, 000

6. XYZ Repair Shop
Mr. Co - Owner
Feb. 2011
General Journal
Page: 1
2010 Explanation F Debit Credit
Feb. 1 Cash GL-1 P 10,000
Mr. Co, Capital P 10,000
Initial Investment.
XYZ Repair Shop
Mr. Co – Owner
Feb. 2011
General Ledger
CASH
Page: 1
Amoun
2010 Explanation F Amount 2010 Explanation
t
Feb 1 Initial Investment GJ- P 10,000
. 1

7. TRIAL BALANCE
 Defined as a list of accounts with open balances
(not zero balance) taken from the general ledger
as of a given date.
WORK SHEET
Is a working paper used to analyze,
summarize and segregate information into the
financial statements. It is a convenient devise in
the primary preparation of the financial
statements.

8. Durable Electrical
Mr. Co – Owner
Work Sheet
February 28, 19B
Trial Balance Income Statement Balance Sheet
Dr. Cr. Dr. Cr. Dr. Cr.
Particulars
Cash P 9,350 P 9,350
Receivable – A Trading 1,200 1,200
Furniture 3,000 3,000
Payable – X P 3,000 P 3,000
Co, Capital 10,000 10,000
Repairs Income 4,000 P 4,000
Rent Expense 2,000 P 2,000
Salary Expense 600 600
Supplies Expense 500 500
Telephone Expense 200 200
Utilities Expense 150 150
P 17,000 P17,000 P 3,450 P 4,000
Net Income added to 550 550
Capital
P 4,000 P 4,000 P 13,550 P13,550

9. EU EQ
 Being systematic is  When is an entry
sure success. good and when is it
 Carefulness is next not?
to exactness

11.  The accounting Period:
Calendar Year- a period of twelve months ending
December 31.
Fiscal Year- a period of twelve months ending at a time
other than December 31.
 What do you call the report submitted to the owner of the
business at the end of the accounting period.= Financial
Statements:
1. – a statement showing what the business owns, owes & what
the owner is worth of.
2. Income Statement – this is a statement showing the detail of
revenue and expenses of operation for a given period.
good luck! Happy Vacation. . .