Dust Bee Gone Cleaning Services

Company

(Financial Transactions)
Submitted by:
Alegre, Julie Ann B.
Aguirre, Ma. Juliana T.
Alcantara, Jhazlyn H.
Casuga, Rosel
Coprado, Gabrielle P.
Degamon, Harrye Cali John F.
Navarro, Mike O.
Patani, Joshua G.
Tesorero, Junella Mae S.
Toribio, Mary Julliane B.
Vega, Rey Dominic M.
HISTORY OF THE COMPANY

Dust Bee Gone, a reputable cleaning service company, Dust Bee Gone was founded in
2019 on Sangandaan, Caloocan City Philippines founded by Bee Santiago with a mission to
transform the way people experience cleanliness and tidiness in their homes and workplaces.
With a small team of dedicated cleaners and employees, the company started by servicing a
handful of local homes and business. Bees –call name for cleaners– group themselves and work
hard to accomplish a good service/work. That's where the name Dust Bee Gone came from.
"The primary goal of cleaning is to maintain the proper function, appearance and sanitation of
buildings and outdoor public places" (Dr. Zock, p.581), so Dust Be Gone's goal is nothing but to
make clients satisfied with the cleaning performance.

The company offer many cleaning services in business, houses, environment and many
others. This dedication to sustainability not only satisfied clients who were concerned about the
environment, but it also drew business contracts for green cleaning services. They remain a
reliable partner in making sure homes and workplaces are "bee"-autifully clean and dust-free as
long as they keep up with new cleaning technology and uphold their unalterable dedication to
cleanliness.

VISION

To be recognized as one of the best and become the most respected cleaning company in
the world. By providing excellent service and delivering on our customers' expectations, we
strive to build a strong reputation for trustworthiness and reliability. We aim to set the
standard in the cleaning industry and become a trusted partner for our clients and colleagues

MISSION

At Dust Bee Gone, our mission is to create cleaner, healthier, and more comfortable living
and working environments for our clients. We are committed to achieving this mission through:

Organizing: Determining what needs to be done, how it will be done and who is to do it.
Health and Safety: We prioritize the well -being of our clients, employees and the communities
we serve. We adhere to strict safety standards and use non-toxic cleaning solutions to create
safe and hygienic spaces.
Reliability and Trustworthiness: Clients trust us to enter their homes and businesses, and we
take that responsibility seriously. We are reliable, punctual, and maintain the highest level of
professionalism and trustworthiness.
Excellence in Cleaning: We aim to provide the highest quality cleaning services tailored to
unique needs of each client. Our team is dedicated to delivering spotless results every time.
TRANSACTIONS

Dec 1 Miss Bee Santiago invested P 330,000 to open Dust Be Gone Cleaning Services.
2 Bought cleaning supplies from a supplier, amounting to P 10,000.
3 Purchased of cleaning company vehicle worth P 100,000 on cash useful for 5 years.
5 Paid a license and permits worth P 2,700, in cash.
5 Paid an insurance policy amounting to P 30,800 good for three years, paid in
cash.
6 Received a 10,000 PHP check from a corporation as payment for their cleaning
contract.
8 Rendered service to customer, receiving cash of P 3,500.
9 Paid P 5,000 for advertising purposes.
10 Received a P 2,000 cash from cleaning service rendered on Miss Mae Garden.
13 Bought a vacuum cleaner worth P 1,500 on account.
15 Paid half-month salaries of four employees, P 5,256 each.
18 Miss Bee Santiago withdrawn an amount of P 10,000, for personal use.
19 Rendered service to customer P 3,500, receiving a promissory note.
20 Paid the debt of purchased vacuum cleaner on December 13.
23 Received P 12,000 in cash from a client for their monthly cleaning service.
25 Bought cleaning supplies from a supplier, amounting to P 15,000 on account.
28 Received a payment from the client on December 19.
29 Paid utility bills worth P 2,859.
30 Paid this month's rent, P 5,000.

Adjustments

1. On December 10, 200a, Dust Bee Gone Company provided a cleaning service to a client for
P40,000. The payment for the service has not been received.

2. On December 15, 200a, Dust Bee Gone Service Company subscribed to a telephone service
amounting to P1,500 for a one-month subscription. But the payment for the subscription of the
Dust Bee Gone Company for telephone service needed to be made on January 15, 200a.

3. The depreciation expense for the vehicle, which has a salvage value of P10,000, amounted to
P1,500.

4. Insurance amounted to P855.56 has beed used up.

5. Customer provided an advanced payment amounting to P 3,000 for the service to be

rendered next month.

6. The depreciation expense for the vacuum cleaner, with a salvage value of P500, amounted to
P1,000.
GENERAL JOURNAL

DATE PARTICULARS DEBIT CREDIT

Dec. 1 Cash P330,000
Miss Bee Santiago, Capital P330,000
To record miss B. Santiago investment
#
2 Supplies 10,000
Cash 10,000
To record purchased supplies
#
3 Vehicle 100,000
Cash 100,000
To record purchased Vehicle
#
5 Licensing and Permit Expense 2,700
Cash 2,700
To record Paid Licenses and permit
Prepaid Insurance 30,800
Cash 30,800
To record Paid Insurance Policy
#
6 Cash 10,000
Service Revenue 10,000
To record Cash for Service Rendered
#
8 Cash 3,500
Service Revenue 3,500
To record Cash for Service Rendered
#
9 Advertising Expense 5,000
Cash 5,000
To record Paid advertising purposes
#
10 Cash 2,000
Service revenue 2,000
To record Cash for Service Rendered
#
13 Equipment 1,500
Accounts payable 1,500
To record Purchased Equipment on account
 #
15 Salary expense 21,024
Cash 21,024
To record Paid half-month salaries for 4
employees
#
18 Miss Bee Santiago, Drawing 10,000
Cash 10,000
To record Withdraw cash for personal use
#
19 Notes Receivable 3,500
Service Revenue 3,500
To record Received Promissory Note
#
20 Accounts payable 1,500
Cash 1,500
To record Paid debt of purchased
#
23 Cash 12,000
Service revenue 12,000
To record Received cash from a Client
#
25 Supplies 15,000
Accounts payable 15,000
To record Purchased Cleaning Supplies on Account
#
28 Cash 3,500
Notes Receivable 3,500
To record Received payment from the Client
#
29 Utilities Expense 2,859
Cash 2,859
To record Paid utility bills
#
30 Rent Expense 5,000
Cash 5,000
To record Paid this month's rent
#
General Ledger (1)

Cash
Date Items PR Debit Credit Balance
200a
December. 1 Miss Bee Capital ₱330,000.00 ₱330,000.00
2 Purchased Supplies ₱10,000.00 ₱320,000.00
3 Purchased ₱100,000.00 ₱220,000.00
5 Paid License and Permit ₱2,700.00 ₱217,300.00
Paid Insurance Policy ₱30,800.00 ₱186,500.00
6 Collected Cash for Service ₱10,000.00 ₱196,500.00
Rendered
8 Collected Cash for Service ₱3,500.00 ₱200,000.00
Rendered
9 Paid Advertising Purposes ₱5,000.00 ₱195,000.00
10 Collected Cash for Service ₱2,000.00 ₱197,000.00
Rendered
15 Salary Expense ₱21,024.00 ₱175,976.00
18 Withdraw Cash Personal Use ₱10,000.00 ₱165,976.00
20 Paid Equipment ₱1,500.00 ₱164,476.00
23 Paid of Purchased ₱12,000.00 ₱176,476.00
28 Cash From a Client ₱3,500.00 ₱179,976.00
29 Paid Utility Bills ₱2,859.00 ₱177,117.00
30 Paid This Months Rent ₱5,000.00 ₱172,117.00

Accounts Receivable
Date Items PR Debit Credit Balance
General Ledger (2)

Notes Receivable
Date Items PR Debit Credit Balance
200a
19-Dec Received Promissory Notes From ₱3,500.00 ₱3,500.00
28-Dec Received Payment From Client ₱3,500.00 ₱0.00

Cleaning Supplies
Date Items PR Debit Credit Balance
200a
2-Dec Supplies ₱10,000.00 ₱10,000.00
25-Dec Supplies ₱15,000.00 ₱25,000.00
General Ledger (3)

Service Vehicle
Date Items PR Debit Credit Balance
200a
3-Dec Company Vehicle ₱100,000.00 ₱100,000.00

Equipment
Date Items PR Debit Credit Balance
200a
13-Dec Equipment - Vacuum ₱1,500.00 ₱1,500.00
General Ledger (4)

Prepaid Insurance
Date Items PR Debit Credit Balance
200a
5-Dec ₱30,800.00 ₱30,800.00

Accounts Payable
Date Items PR Debit Credit Balance
200a

13-Dec Purchased Equipment ₱1,500.00 ₱1,500.00

20-Dec Paid Equipment ₱1,500.00 ₱0.00
25-Dec ₱15,000.00 ₱15,000.00
General Ledger (5)

Bee Santiago, Capital

Date Items PR Debit Credit Balance
200a
1-Dec Bee Santiago, Investment ₱330,000.00 ₱330,000.00

Bee Santiago, Withdrawals

Date Items PR Debit Credit Balance
200a
18-Dec Bee Santiago, Drawings ₱10,000.00 ₱10,000.00
General Ledger (6)

Service Revenue
Date Items PR Debit Credit Balance
200a
6-Dec Rendered Service ₱10,000.00 ₱10,000.00
8-Dec Rendered Service ₱3,500.00 ₱13,500.00
10-Dec Rendered Service ₱2,000.00 ₱15,500.00
19-Dec Rendered Service ₱3,500.00 ₱19,000.00
23-Dec Rendered Service ₱12,000.00 ₱31,000.00

Licenses and Permits Expenses

Date Items PR Debit Credit Balance
200a
5-Dec Paid License and Permit ₱2,700 ₱2,700
General Ledger (7)

Advertising Expense
Date Items PR Debit Credit Balance
200a
9-Dec Paid Advertising Expense ₱5,000.00 ₱5,000.00

Salaries Expense
Date Items PR Debit Credit Balance
200a
15-Dec Paid Salaries Expense ₱21,024.00 ₱21,024
General Ledger (8)

Utilities Expense
Date Items PR Debit Credit Balance
200a
29-Dec Paid Utilities Expense ₱2,859.00 ₱2,859.00

Rent Expense
Date Items PR Debit Credit Balance
200a
30-Dec Paid Rent Expense ₱5,500 ₱5,500
 Dust Bee Gone Cleaning Service
Trial Balance (Initial and Unadjusted)
For the month ended of December 31, 200a

Accounts Debit Credit

Cash ₱172,117.00
Notes Receivable ₱-
Cleaning Supplies ₱25,000.00
Service Vehicle ₱100,000.00
Equipment-Vacuum ₱1,500.00
Prepaid Insurance ₱30,800.00
Accounts Payable ₱15,000.00
Bee Santiago, Capital ₱330,000.00
Bee Santiago, Withdrawals ₱10,000.00
Service Revenue ₱31,000.00
Licenses and Permits Expense ₱2,700.00
Advertising Expense ₱5,000.00
Salaries Expense ₱21,024.00
Utilities Expense ₱2,859.00
Rent Expense ₱5,000.00
Totals ₱376,000.00 ₱376,000.00
 Dust Bee Gone Cleaning Service
Summary of adjustments
For the month ended December 31, 200a

• On December 10, 200a, Dust Bee Gone Company provided a cleaning service to a client
for P40,000. The payment for the service has not been received.

• On December 15, 200a, Dust Bee Gone Service Company subscribed to a telephone
service amounting to P1,500 for a one-month subscription. But the payment for the
subscription of the Dust Bee Gone Company for telephone service needed to be made
on January 15, 200a.

• The depreciation expense for the vehicle, which has a salvage value of P10,000,
amounted to P1,500.

• Insurance amounted to P855.56 has beed used up.

• Customer provided an advanced payment amounting to P 3,000 for the service to be

rendered next month.

• The depreciation expense for the vacuum cleaner, with a salvage value of P500,
amounted to P1,000.
PARTICULARS DEBIT CREDIT

Accrued Revenue P40,000

Service Revenue P40,000

To record service revenue

#

Utilities Expense 1,500

Utilities Payable 1,500

To record utilities expense

#

Depreciation Expense-Vehicle 1,500

Accumulated Depreciation-Vehicle 1,500

To record depreciation expense of vehicle

#

Insurance Expense 855.56

Prepaid Insurance 855.56

To record used insurance

#

Cash 3,000
Unearned Revenue 3,000

To record advance payment of the client

#

Depreciation Expense-Vacuum Cleaner 1,000

Accumulated Depreciation-Vacuum Cleaner 1,000

To record depreciation expense of vacuum cleaner

#
 Dust Bee Gone Cleaning Service
Adjusted Trial Balance
For the month ended of December 31, 200a

Accounts Debit Credit

Cash ₱175,117
Notes Receivable
Cleaning Supplies ₱25,000
Service Vehicle ₱100,000
Accumulated Depreciation—Vehicle ₱1,500
Equipment-Vacuum ₱1,500
Accumulated Depreciation—Vacuum ₱1,000
Prepaid Insurance ₱29,944.44
Accounts Payable ₱15,000
Utilities Payable ₱1,500
Miss Bee Capital ₱330,000
Miss Bee Withdrawals ₱10,000
Service Revenue ₱71,000
Accrued Revenue ₱40,000
Licensing and Permit Expense ₱2,700
Advertising Expense ₱5,000
Salary Expense ₱21,024
Utility Expense ₱4,359
Rent Expense ₱5,000
Depreciation Expense—Vehicle ₱1,500
Depreciation Expense—Vacuum ₱1,000
Insurance Expense ₱855.56
Unearned Revenue ₱3,000
Totals ₱432,000 ₱432,000
 Dust Bee Gone Company
Income Statement
For the month ended December 31, 200a

Service Revenue P71,000.00

Less: Expenses
Operating expense P2,700.00
Advertising expense 5,000.00
Salaries expense 21,024.00
Utilities expense 4,359.00
Rent expense 5,000.00
Insurance expense 855.56
Dep. Expense-vehicle 1,500.00
Dep. Expense-vacuum 1,000.00
Total Expense P41,438.56
Net Income P29,561.44
 Dust Bee Gone Company
Statement of Changes in Owner’s Equity
For the month ended December 31, 200a

Bee Santiago Capital, December 1, 200a P 330,000.00

Add: Additional investment -
Net Income for the period 29,561.44
359,561.44
Less: Withdrawals by Bee Santiago (10,000.00)
Bee Santiago’s Equity, December 31, 200a P 349,561.44
 Dust Bee Gone Company
Balance Sheet
For the month ended December 31, 200a

ASSETS
Current Assets
Cash ₱175,117.00
Prepaid Insurance ₱29,944.44
Cleaning Supplies ₱25,000.00
Accrued Revenue ₱40,000.00
Total Current Assets ₱270,061.44

Non-current Assets
Equipment-Vacuum ₱1,500.00
Service Vehicle ₱100,000.00
Less Acc. Depreciation- Service Vehicle (₱1,500)
Acc. Depreciation- Vacuum Cleaner (₱1,000)
Total Non-Current Assets ₱99,000.00
Total Assets ₱369,061.44

LIABILITIES
Current Liabilities
Accounts Payable ₱15,000.00
Utilities Payable ₱1,500.00
Unearned Revenue ₱3,000.00
Total Current Liabilities ₱19,500.00

EQUITY
Bee, Santiago, Capital ₱349,561.00
Total Equity ₱349,561.44
Total Liabilities and Equity ₱369,061.44