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  • Ralph Kennedy I. Tong Assignment Quiz No 2

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    Tong Kennedy
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    The document shows the financial transactions of Padilla Painting Services for the month of July. It includes cash receipts from service revenue and payments for expenses like supplies, wages, and utilities. The accounting records track increases and decreases in cash as well as changes to accounts like accounts receivable, accounts payable, equipment, and capital.

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    The document shows the financial transactions of Padilla Painting Services for the month of July. It includes cash receipts from service revenue and payments for expenses like supplies, wages, and utilities. The accounting records track increases and decreases in cash as well as changes to accounts like accounts receivable, accounts payable, equipment, and capital.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    143 views11 pages

    Ralph Kennedy I. Tong Assignment Quiz No 2

    Uploaded by

    Tong Kennedy
    The document shows the financial transactions of Padilla Painting Services for the month of July. It includes cash receipts from service revenue and payments for expenses like supplies, wages, and utilities. The accounting records track increases and decreases in cash as well as changes to accounts like accounts receivable, accounts payable, equipment, and capital.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 11

    PADILLA PAINTING SERVICES

    July
    2 Cash P 400,000
    Equipment 40,000
    Padilla's Capital P 440,000

    3 Truck 250,000
    Cash 50,000
    Notes Payable 200,000

    4 Purchases 12,000
    Accounts Payable 12,000

    5 Cash 25,000
    Service Revenue 25,000

    6 Purchases 3,000
    3,000

    7 Cash 18,500
    Service Revenue 18,500

    8 Prepaid Insurance 4,000


    Cash 4,000

    11 Cash 15,000
    Accounts Receivable 15,000

    12 Wages Expense 5,000


    Cash 5,000

    13 Cash 22,000
    Service Revenue 22,000

    15 Accounts Payable 12,000


    Cash 12,000

    20 Supplies 2,170
    Equipment 5,630
    Accounts Payable 7,800

    22 Utilities Expense 6,395


    Acccounts Payable 6,395
    23 Cash 12,500
    Accounts Receivable 12,500

    24 Padilla Drawings 6,000


    Cash 6,000

    25 Cash 47,000
    Service Revenue 47,000

    31 Wages Expense 5,000


    Cash 5,000
    CASH
    DATE ITEMS PR DEBIT DATE ITEMS PR

    July 2,2020 40,000 July 3,2020


    July 5,2020 25,000 July 8,2020
    July 7,2020 18,500 July 12,2020
    July 11,2020 15,000 July 15,2020
    July 13,2020 22,000 July 24,2020
    July 23,2020 12,500 July 31,2020
    July 25,2020 47,000
    180000

    Accounts Receivable
    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 11,2020
    July 23,2020

    Supplies
    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 20,2020 2,170
    2,170
    Accounts Payable
    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 15,2020 12,000 July 4,2020
    July 20,2020
    July 22,2020
    12,000

    P, Capital
    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 2,2020

    Paint Fees earned


    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 5,2020
    July 13,2020
    July 25,2020
    Utilities Expenses
    DATE ITEMS PR DEBIT DATE ITEMS PR
    July 22,2020 6,395
    Acct No 101
    CREDIT

    50,000 Prepaid Insurance


    4000 DATE ITEMS PR
    5,000 July 8,2020
    12,000
    6,000
    5,000

    82000
    98000

    Acct No. 102


    CREDIT Equipment
    15,000 DATE ITEMS PR
    12,500 July 2,2020
    July 20,2020

    Acct no. 103


    CREDIT
    Truck
    DATE ITEMS PR
    July 3,2020
    Acct no 202 Notes Payable
    CREDIT DATE ITEMS PR
    12,000
    7,800
    6,395
    26195

    14195

    P, Drawing
    Acct no 301 DATE ITEMS PR
    CREDIT July 24,2020
    440,000
    440,000

    Acct no 401 Wages Expenses


    CREDIT DATE ITEMS PR
    25,000 July 12,2020
    22,000 July 31,2020
    47,000
    94000
    Acct no 502
    CREDIT
    Prepaid Insurance Acct no 104
    DEBIT DATE ITEMS PR CREDIT
    4,000
    4,000

    Equipment Acct no 106


    DEBIT DATE ITEMS PR CREDIT
    40,000
    5,630
    45630

    Truck Acct no 202


    DEBIT DATE ITEMS PR CREDIT
    250,000
    250,000
    Notes Payable Acct no 107
    DEBIT DATE ITEMS PR CREDIT
    July 3,2020 200,000
    200,000

    P, Drawing Acct no. 302


    DEBIT DATE ITEMS PR CREDIT
    6,000
    6,000

    Wages Expenses Acct no 501


    DEBIT DATE ITEMS PR CREDIT
    5,000
    5,000
    10000

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