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Financial Accounting and Reporting Project Week 3
Financial Accounting and Reporting Project Week 3
Financial Accounting and Reporting Project Week 3
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
REQUIRED:
1. Prepare the journal entries with explanation for the December 2019 transactions. (General Journal
Format)
Cardenas Delivery Services
General Journal
For the Month of December 2019
Page 1
Date Account Titles and Description Acct Debit Credit
no.
2019
December 2 Transportation Equipment 160 ₱54 000.00
Cash 110 ₱8 000.00
Notes Payable 220 ₱46 000.00
To record acquisition of transportation equipment on
cash and issued a promissory note