Transaction / Adjusting Entries

- Alexandra invested 300,000 cash

- Bought Computer Set worth of 28,000
- Paid 20,000 for rent
- Bought Equipment 8,000
- Bought Furniture on Account from Joseph worth 10,000
- Purchased Supplies worth of 15,500
- Received 40,000 from service rendered
- Withdraw 5,000 for personal use
- Paid 50% of the Furniture bought from Joseph
- Paid Meralco Bill 6,000
- Paid PLDT 4,500.
- Received another 52,000 cash from service rendered.
a. Depreciation Rates of Equipment is 4% monthly acquired on January 1 A.P Dec.
31.
b. Unused supplies 33%
c. Rent represent for 2 months 1 month already used.

Trial Balance
Account Account Debit Credit
No Title
101 Cash P 3 0 0 0 0 0 -
102 Computer 2 8 0 0 0 -
103 Equipment 8 0 0 0 -
104 Furniture 1 0 0 0 0 -
105 Supplies 1 5 5 0 0 -
Acct.
-
201 Payable P 5 0 0 0
Geox
301 Capital 3 0 0 0 0 0 -
Geox 5 0 0 0 -
302 Drawing
Service 9 2 0 0 0 -
401 Income
501 Rent Exp 2 0 0 0 0 -
502 Light Exp 6 0 0 0 -
503 Tel Exp 4 5 0 0 -

504 P 3 9 7 0 0 0 - P 3 9 7 0 0 0 -
Jacky Villarin

Andrei Estrada

Kiana Camacho

EJ Cabatbat

Iris Gajultos

Laurence Ang

Shin Althea
 Chapter 1- INRTRODUCTION
Geox Computer Shop, unlike a normal internet café, will give and provide our costumers a
unique type of entertainment. We will provide what public wants: (1) Fast internet service. We
will give our costumers the fastest internet service. 200 MBPS will be the speed of our internet
service. (2) Comfortable place to play and search. It is our duty to give our customers the best
comfortability. (3) Clean and safe location. We really care for our customers that’s why we will
give them a clean and safe location. (4) Cheap and Affordable rate. We, the company, are really
budget friendly so we come up with a rate that is cheap but have a good quality of service.

 WHY THIS BUSINESS?

Because our company wants to give the public a good quality of internet service. We want
the best for the public, that’s why we built this company. Our company wants to give access to
everyone whether their young or old. We want to give them happiness and comfort.

 How will my business be different than the competitor’s?

Geox Computer Shop, unlike another typical internet café, we have the fastest internet
service. We have an internet speed of 200 MBPS while the other café has a 100-150 MBPS. As
our company grow, we will also upgrade our internet service so it won’t make our service slow
and be like another internet café.

 Why now?
Because the society needs the best internet café. A lot of internet café opened but they are
almost the same. That’s why we, the company, urgently talked about this and come up with the
same ideas.

Transaction / Adjusting Entries

- Alexandra invested 300,000 cash

- Bought Computer Set worth of 28,000
- Paid 20,000 for rent
- Bought Equipment 8,000
- Bought Furniture on Account from Joseph worth 10,000
- Purchased Supplies worth of 15,500
- Received 40,000 from service rendered
- Withdraw 5,000 for personal use
- Paid 50% of the Furniture bought from Joseph
- Paid Meralco Bill 6,000
- Paid PLDT 4,500.
- Received another 52,000 cash from service rendered.
a. Depreciation Rates of Furniture is 4% monthly acquired on January 1 A.P Dec. 31.
b. Unused supplies 33%
c. Rent represent for 2 months 1 month already used.
d. Use Equipment 45%
Account Account Title Debit Credit
No.

a Depreciation Exp P 3 8 4 0 -
Accumulated Depreciation P 3 8 4 0 -

b Supplies Exp 1 0 3 8 5 -
Supplies 1 0 3 8 5 -

c Rent Exp 1 0 0 0 0 -
Prepaid Rent 1 0 0 0 0 -

Account Account Title Debit Credit

NO.
a Depreciation Exp -
Accumulated Depreciation

b Supplies Exp
Supplies

c Rent Exp
Prepaid Rent