Journalizing

2014
Jan-01 Cash ₱ 930,000
Domingo, Capital ₱ 930,000 Jan-01
May-07
Feb-05 Supplies ₱ 5,000 Sep-01
Accounts Payable ₱ 5,000

Feb-18 Accounts Payable ₱ 1,000

Cash ₱ 1,000

Apr-01 Building ₱ 48,000

Cash ₱ 48,000
Acquisition of building, useful life 4 years, no salvage value.
May-01
May-01 Accounts Receivable ₱ 80,000
Service Revenue ₱ 80,000

May-07 Cash ₱ 10,000 Feb-05

Accounts Receivable ₱ 10,000

Jun-30 Salaries Expense ₱ 22,000

Cash ₱ 22,000 Aug-01

Jul-07 Advertising Expense ₱ 12,000

Cash ₱ 12,000
Apr-01
Aug-01 Prepaid Insurance ₱ 24,000
Cash ₱ 24,000
Paid one year building insurance.
Feb-18
Sep-01 Cash ₱ 66,000
Service Revenue ₱ 66,000

Dec-31 Domingo, Withdrawals ₱ 20,000

Cash ₱ 20,000
₱ 1,218,000
 General Ledger

Cash
₱ 930,000 Feb-18 ₱ (1,000)
10,000 Apr-01 (48,000)
66,000 Jun-30 (22,000) Domingo, Withdrawals
Jul-07 (12,000) Dec-31 ₱ 20,000
Aug-01 (24,000) ₱ 20,000
Dec-31 (20,000)
₱ 1,006,000 ₱ (127,000)
₱ 879,000 Service Revenue
May-01
Sep-01
Accounts Receivable
₱ 80,000 May-07 ₱ (10,000)
₱ 70,000

Supplies
₱ 5,000 Salaries Expense
₱ 5,000 Jun-30 ₱ 22,000.00
₱ 22,000.00
Prepaid Insurance
₱ 24,000 Advertising Expense
₱ 24,000 Jul-07 ₱ 12,000.00
₱ 12,000.00
Building
₱ 48,000
₱ 48,000

Accounts Payable
₱ (1,000) Feb-05 ₱ 5,000
₱ 4,000

Domingo, Capital
Jan-01 ₱ 930,000
₱ 930,000
ngo, Withdrawals

₱ 80,000.00
₱ 66,000.00
₱ 146,000.00

ng Expense
 Trial Balance

Dr. Cr.
Cash ₱ 879,000.00
Accounts Receivable 70,000.00
Supplies 5,000.00
Prepaid Insurance 24,000.00
Building 48,000.00
Accounts Payable ₱ 4,000.00
Domingo, Capital 930,000.00
Domingo, Withdrawals 20,000.00
Service Revenue 146,000.00
Salaries Expense 22,000.00
Advertising Expense 12,000.00
₱ 1,080,000.00 ₱Totals
1,080,000.00

Supplies Expense
 Adjusted Trial Balance

Dr. Cr.
Cash ₱ 879,000.00
Accounts Receivable 70,000.00
Allowance for Bad Debts ₱ 7,000.00
Supplies 2,000.00
Prepaid Insurance 14,000.00
Building 48,000.00
Accumulated Depreciation 9,000.00
Accounts Payable 4,000.00
Salaries Payable 33,000.00
Domingo, Capital 930,000.00
Domingo, Withdrawals 20,000.00
Service Revenue 146,000.00
Advertising Expense 12000
Insurance Expense 10000
Salaries Expense 55,000.00
Depreciation Expense 9,000.00
Bad Debts Expense 7,000.00
Supplies Expense 3,000.00
₱ 1,129,000.00 ₱ 1,129,000.00