HC Cars and Trucks for Hire

Unadjusted Trial Balance

For the Month ended January 31, 2022

ACCOUNT NO Account Titles Debit

101 CASH ON HAND

102 CASH IN BANK
103 ACCOUNT RECEIVABLE
104 SHORT-TERM NOTES RECEIVABLE
201 FURNITURE AND FIXTURE
202 GARAGE
203 LONG-TERM NOTES RECEIVABLE
204 TRUCKS
301 ACCOUNT PAYABLE
302 EC PREMIUM PAYABLE
303 HDMF PREMIUM PAYABLE
304 PHILHEALTH PREMIUM PAYABLE
305 SS PREMIUM PAYABLE
306 SHORT-TERM NOTES PAYABLE
307 UTILITIES PAYABLE
401 LONG-TERM NOTES PAYABLE
501 CARPIO, CAPITAL
502 CARPIO, DRAWINGS
601 RENTAL FEES REVENUE
701 INTEREST INCOME
801 EC PREMIUM EXPENSE
802 GAS & OIL EXPENSE
803 HDMF PREMIUM EXPENSE
804 INSURANCE EXPENSE
805 INTEREST EXPENSE
806 PH PREMIUM EXPENSE
807 RENT EXPENSE
808 SALARIES EXPENSE
809 SS AND EC PREMIUM EXPENSE
810 TAXES & LICENSES EXPENSE
811 UTILITIES EXPENSE
Credit
 101
Cash on Hand
DATE DEBIT CREDIT DATE
Jan 1 P75,000 P2,000 Jan 3
Jan 14 55,000 5,000 Jan 9
Jan 22 22,500 27,000 Jan 16
27,000 Jan 30
4,470 Jan 31

Total Debits P152,500 P65,470 Total Credits

87,030 End. Bal. 01/31/2022
P152,500 P152,500

102
Cash in Bank
DATE DEBIT CREDIT DATE
Jan 1 P850,000 P5,000 Jan 3
Jan 11 100,000 150,000 Jan 4
Jan 20 15,000 95,000 Jan 15
Jan 28 11,200 8,000 Jan 23

Total Debits P976,200 P250,000 Total Credits

726,200 End. Bal. 01/31/2022
P976,200 P976,200

103
ACCOUNTS RECEIVABLE
DATE DEBIT CREDIT DATE
Jan 11 P10,000 P15,000 Jan 20
Jan 15 50,000 11,200 Jan 28

Total Debits P60,000 P26,200 Total Credits

33,800 End. Bal. 01/31/2022
P60,000 P60,000

104
SHORT-TERM NOTES RECEIVABLE
DATE DEBIT CREDIT DATE
Jan 18 P1,200

Total Debits P1,200 P0 Total Credits

1,200 End. Bal. 01/31/2022
P1,200 P1,200
 201
FURNITURES & FIXTURES
DATE DEBIT CREDIT DATE
End. Bal. 01/31/2022 P0

202
TRUCKS
DATE DEBIT CREDIT DATE
Jan 4 P150,000

Total Debits P150,000 P0 Total Credits

150,000 End. Bal. 01/31/2022
P150,000 P150,000

203
LONG-TERM NOTES RECEIVABLE
DATE DEBIT CREDIT DATE
End. Bal. 01/31/2022 P0

204
TRUCKS
DATE DEBIT CREDIT DATE
Jan 1 P2,800,000

Total Debits P2,800,000 P0 Total Credits

P2,800,000 End. Bal. 01/31/2022
P2,800,000 P2,800,000

301
ACCOUNTS PAYABLE
DATE DEBIT CREDIT DATE
Jan 23 P8,000 P8,000 Jan 19

Total Debits P8,000 P8,000 Total Credits

0 End. Bal. 01/31/2022
P8,000 P8,000

302
EC PREMIUM PAYABLE
DATE DEBIT CREDIT DATE
Jan 31 P90 P45 Jan 16
P45 Jan 30
Total Debits P90 P90 Total Credits
P0 End. Bal. 01/31/2022
 P90 P90

303
HDMF PREMIUM PAYABLE
DATE DEBIT CREDIT DATE
Jan 31 P600 P300 Jan 16
P300 Jan 30
Total Debits P600 P600 Total Credits
0 End. Bal. 01/31/2022
P600 P600

304
PHILHEALTH PREMIUM PAYABLE
DATE DEBIT CREDIT DATE
Jan 31 P1350 P675 Jan 16
P675 Jan 16

Total Debits P1350 P1350 Total Credits

0 End. Bal. 01/31/2022
P1350 P1350

305
SS PREMIUM PAYABLE
DATE DEBIT CREDIT DATE
Jan 31 P2,430 P1,215 Jan 16
P1,215 Jan 16

Total Debits P2,430 P2,430 Total Credits

0 End. Bal. 01/31/2022
P2,430 P2,430

306
SHORT-TERM NOTES PAYABLE
DATE DEBIT CREDIT DATE
0 End. Bal. 01/31/2022

307
UTILITIES PAYABLE
DATE DEBIT CREDIT DATE
P6,950 Jan 27

Total Debits 0 6,950 Total Credits

End. Bal. 01/31/2022 6,950 0
6,950 6,950
 401
LONG-TERM NOTES PAYABLE
DATE DEBIT CREDIT DATE
Jan 15 P83,333 1,000,000 Jan 1

Total Debits P83,333 1,000,000 Total Credits

916,667 End. Bal. 01/31/2022
P83,333 P83,333

501
CARPIO, CAPITAL
DATE DEBIT CREDIT DATE
3,725,000 Jan 1

Total Debits 0 3,725,000 Total Credits

End. Bal. 01/31/2022 3,725,000
3,725,000 3,725,000

502
CARPIO, DRAWINGS
DATE DEBIT CREDIT DATE
End. Bal. 01/31/2022 0

601
RENTAL FEES REVENUES
DATE DEBIT CREDIT DATE
P20,000 Jan 11
55,000 Jan 14
50,000 Jan 15
22,500 Jan 22

Total Debits 0 P147,500 Total Credits

End. Bal. 01/31/2022 P147,500
P147,500 P147,500

701
INTEREST INCOME
DATE DEBIT CREDIT DATE
P1,200 Jan 18
P1,200 Jan 28

Total Debits 0 P2,400 Total Credits

End. Bal. 01/31/2022 P2,400
 P2,400 P2,400

801
EC PREMIUM EXPENSE
DATE DEBIT CREDIT DATE
Jan 16 P45
Jan 30 45

Total Debits P90 0 Total Credits

P90 End. Bal. 01/31/2022
P90 P90

802
GAS & OIL EXPENSE
DATE DEBIT CREDIT DATE
Jan 9 P5,000
Jan 19 8,000

Total Debits P13000 0 Total Credits

P13000 End. Bal. 01/31/2022
P13000 P13000

803
HDMF PREMIUM EXPENSE
DATE DEBIT CREDIT DATE
Jan 16 P300
Jan 30 300

Total Debits P600 P0 Total Credits

600 End. Bal. 01/31/2022
P600 P600

804
INSURANCE EXPENSE
DATE DEBIT CREDIT DATE
Jan 3 P5,000

Total Debits P5,000 P0 Total Credits

5,000 End. Bal. 01/31/2022
P5,000 P5,000

805
INTEREST EXPENSE
 DATE DEBIT CREDIT DATE
Jan 15 P11,667

Total Debits P11,667 P0 Total Credits

11,667 End. Bal. 01/31/2022
P11,667 P11,667

806
PH PREMIUM EXPENSE
DATE DEBIT CREDIT DATE
Jan 16 P675
Jan 30 P675

Total Debits P1,350 P0 Total Credits

1,350 End. Bal. 01/31/2022
P1,350 P1,350

807
RENT EXPENSE
DATE DEBIT CREDIT DATE
End. Bal. 01/31/2022 P0

808
SALARIES EXPENSE
DATE DEBIT CREDIT DATE
Jan 16 P27,000
Jan 30 27,000

Total Debits P27,000 P0 Total Credits

27,000 End. Bal. 01/31/2022
P27,000 P27,000

809
SS PREMIUM EXPENSE
DATE DEBIT CREDIT DATE
Jan 16 P1,215
Jan 30 P1,215

Total Debits P2,430 P0 Total Credits

2,430 End. Bal. 01/31/2022
P2,430 P2,430

810
TAXES AND LICENSES EXPENSE
DATE DEBIT CREDIT DATE
 Jan 3 P2,000

Total Debits P2,000 P0 Total Credits

2,000 End. Bal. 01/31/2022
P2,000 P2,000

811
UTILITIES EXPENSE
DATE DEBIT CREDIT DATE
Jan 3 P6,950

Total Debits P6,950 P0 Total Credits

6,950 End. Bal. 01/31/2022
P6,950 P6,950
 103
ACCOUNTS RECEIVABLE
DATE DEBIT CREDIT DATE

Total Debits Total Credits

End. Bal. 01/31/2022
DATE PARTICULARS F Debit
2022
Jan 1 Cash on Hand 101 75,000
Cash in Bank 102 850,000
Trucks 204 2,800,000
Carpio Capital 501
Long-Term Notes Payable 203
To record the investment of
owner to business
2

3
Taxes & Licenses Expense 810 2,000
Cash on Hand 101
To record payment to LTO

Insurance Expense 804 5,000

Cash in Bank 102
To record payment to Piooner
Insurance
4
Garage 202 150,000
Cash in Bank 102
To record payment for construction
of garage
9
Gas & Oil Expense 802 5,000
Cash on Hand 101
To record payment for gas & oil
11
Cash in Bank 102 10,000
Accounts Receivable 103 10,000
Rental Fees Revenue 601
To record revenue from rental
fees
14
Cash on Hand 101 55,000
Rental Fees Revenue 601
To record revenue from rental
fees
15
Accounts Receivable 103 50,000
Rental Fees Revenue 601
To record revenue from rental
fees
 Long-Term Notes Payable 401 83,333
Interest Expense 805 11,667
Cash in Bank 102
To record payment to BPI for
Notes Payable
16
Salaries Expense 808 27,000
EC Premium Expense 801 90
HDMF Premium Expense 803 300
PH Premium Expense 806 675
SS Premium Expense 809 1215
EC Premium Payable 302
HDMF Premiums Payable 303
PhilHealth Premiums Payable 305
SS Premiums Payable 306
Cash on Hand 101
To record payment of salaries and
Employer's Contribution
18
Short-Term Notes Receivables 104 1,200
Interest Income 701
To record issue of note of 12%
from Mr. Ramirez account
19
Gas & Oil Expense 802 8,000
Accounts Payable 301
To record bill from petron for
Gas & Oil Expense
20
Cash in Bank 102 15,000
Accounts Receivable 103
To record collection of accounts
receivable from Alexis Company
22
Cash on Hand 101 22,500
Rental Fees Revenue 601
To record revenue from rental
fees
23
Cash in Bank 102 8,000
Accounts Payable 301
To record payment of Accounts
Payable
27
 Utilities Payable 307 6,950
Utilities Expense 811
To record payment for Utilities
Payable
28
Cash in Bank 101 11,200
Accounts Receivable 103
Interest Income
To record payment of client plus
interest
30
Salaries Expense 808 27,000
EC Premium Expense 801 45
HDMF Premium Expense 803 540
PH Premium Expense 806 1350
SS Premium Expense 809 2565
EC Premium Payable 302
HDMF Premiums Payable 303
PhilHealth Premiums Payable 305
SS Premiums Payable 306
Cash on Hand 101
To record payment of salaries and
Employer's Contribution
31
Credit

3,725,000
1,000,000

2,000

5,000

150,000

5,000

20,000

55,000

50,000
95,000

90
300
675
2565
27000

1,200

8,000

15,000

22,500

8,000
 6,950

11,200

45
540
1350
2565
27000