NAME: ANDREA MONIQUE MAHINAY ALEJAGA

YEAR AND COURSE: FIRST YEAR- BSA

BSA 101 – FINANCIAL ACCOUNTING AND REPORTING

PROJECT ON WEEK 3

PROBLEM ON JOURNALIZING
Loida Cardenas owns the business “Cardenas Delivery Services”.
Presented below is the November 30, 2019 trial balance representing business activities from
January 1, 2019 to November 30, 2019:
Debit Credit
Cash 82,200
Accounts Receivable 12,000
Office Supplies 18,000
Prepaid Advertising 22,400
Transportation Equipment 480,000
Notes Payable 210,000
Accounts Payable 64,400
Cardenas, Capital 310,000
Cardenas, Drawing 14,000
Delivery Revenues 62,400
Salaries Expense 13,800
Utilities Expense 4,400 _______
Totals 646,800 646,800

During the month of December 2019, the following took place:

Dec. 2 Acquired a second-hand service vehicle costing P54,000, paying P8,000 in cash, and
financing the remaining P46,000 by issuing a promissory note.
Dec. 3 Paid rent for the month, P4,950.
Dec. 5 Bought office supplies on account from Quality Emporium, P5,200.
Dec. 6 Hired additional part time worker with a salary of P3,000 per month.
Dec. 8 Paid three months insurance in advance, P7,500.
Dec. 10 Received P53,900 cash for delivery work done for Pasco Company.
Dec. 13 Bought additional office supplies for cash, P5,150.
Dec. 15 Paid salaries of workers, P28,500.
Dec. 17 Rendered delivery services for Luisita Company on account, P45,250. Luisita
Company issued a promissory note.
Dec. 18 Partial payment of account to Quality Emporium, P2,800.
Dec. 20 Paid miscellaneous expenses, P2,400.
Dec. 21 Withdrew cash for personal use, P1,850.
Dec. 22 Partial collection of promissory note issued by Luisita Company, P12,500.
Dec. 23 Paid utilities expense, P1,150.
Dec. 24 Billed Conico Company for delivery services rendered, P48,400.
Dec. 26 Loida Cardenas made an additional investment of P10,000 cash.
Dec. 28 Partial payment on the issued promissory note, P7,000.
Dec. 30 Partial collection from Conico Company, P 3,200.
Dec. 31 Paid salaries of workers, P16,200.
The chart of accounts is as follows:
ASSETS OWNER'S EQUITY
Cash Cardenas, Capital
Accounts Receivable Cardenas, Drawing
Notes Receivable
Office Supplies
Prepaid Advertising REVENUES AND EXPENSES
Prepaid Insurance Delivery Revenues
Transportation Equipment Salaries Expense
Rent Expense
Utilities Expense
LIABILITIES Miscellaneous Expense
Accounts Payable
Notes Payable

REQUIRED:
1. Prepare the journal entries with explanation for the December 2019 transactions. (General Journal Format)
 Cardenas Delivery Services
General Journal
For the Year ending December 31, 2019

Date Account Titles Acct #s Debit Credit

2019
December 2 Transportation Equipment ₱54 000
Cash 110 ₱8 000
Notes Payable 220 ₱46 000
To record acquisition of equipment on cash and issued a promissory note

December 3 Rent Expense 525 ₱4 950

Cash 110 ₱4 950
To record payment of rent

December 5 Office Supplies ₱5 200

Accounts Payable 210 ₱5 200
To record acquisition of office supplies on account

December 8 Prepaid Insurance 160 ₱7 500

Cash 110 ₱7 500
To record payment of three months’ insurance

December 10 Cash 110 ₱53 900

Delivery Revenues ₱53 900
To record cash received for delivery services rendered

December 13 Office Supplies ₱5 150

Cash 110 ₱5 150
To record acquisition of additional office supplies on cash

December 15 Salaries Expense 520 ₱28 500

Cash 110 ₱28 500
To record payment of salaries

December 17 Notes Receivable 130 ₱45 250

Delivery Revenues ₱45 250
To record delivery services rendered issued by a promissory note

December 18 Accounts Payable 210 ₱2 800

Cash 110 ₱2 800
To record the partial payment of accounts payable

December 20 Miscellaneous Expense 575 ₱2 400

Cash 110 ₱2 400
To record payment of miscellaneous expense

December 21 Cardenas, Drawing 320 ₱1 850

Cash 110 ₱1 850
To record the owner’s personal withdrawal

December 22 Cash 110 ₱12 500

Notes Receivable 130 ₱12 500
To record partial collection of notes receivable

December 23 Utilities Expense 530 ₱ 1 150

Cash 110 ₱1 150
To record payment of utilities
Date Account Titles Acct #s Debit Credit

December 24 Accounts Receivable 120 ₱48 400

Delivery Revenues ₱48 400
To record customer billed for services rendered

December 26 Cash 110 ₱10 000

Cardenas, Capital 310 ₱10 000
To record owner’s additional investment to the business

December 28 Notes Payable 220 ₱7 000

Cash 110 ₱7 000
To record the partial payment of notes payable

December 30 Cash 110 ₱3 200

Accounts Receivable 120 ₱3 200
To record the partial collection of accounts receivable

December 31 Salaries Expense 520 ₱16 200

Cash 110 ₱16 200
To record payment of salaries