JOURNAL ENTRIES FOR THE MONTH OF APRIL

APRIL ACCOUNT TITLES & EXPLANATION DEBIT CREDIT

2 Painting Equipment 12,300
Villanueva, Capital 12,300
To record the owner’s initial investment of
painting equipment

Cash 71,000
Villanueva, Capital 71,000
To record the money placed in checking
account

3 Service Vehicle 80,000

Cash 50,000
Notes Payable 30,000
To record the acquisition of service vehicle
on account

4 Painting Supplies 3,200

Accounts Payable 3,200
To record the acquisition of painting
supplies on account

5 Accounts Receivable 4,800

Painting Revenue 4,800
To record the collection of accounts
receivable

7 Cash 1,500
Painting Revenue 1,500
To record the painting fees rendered for
cash

10 Painting Supplies 1,600

Cash 1,600
To record the acquisition of painting
supplies on cash basis
11 Cash 4,800
Accounts Receivable 4,800
To record the collection of accounts
receivable billed on April 5

12 Prepaid Insurance 4,000

Cash 4,000
To record the settlement of prepaid
insurance

13 Accounts Receivable 6,200

Painting Revenue 6,200
To record the painting fees rendered on
accounts receivables

14 Wages Expense 1,500

Cash 1,500
To record the cash disbursements for wages
expense

15 Maintenance Expense 400

Cash 400
To record the cash disbursements for
maintenance expense

18 Accounts Payable 3,200

Cash 3,200
To record the settlement of accounts
payable

20 Painting Equipment 6,000

Painting Supplies 2,900
Accounts Payable 8,900
To record the acquisition of equipment and
supplies on account

22 Utilities Expense 600

Accounts Payable 600
 To record the telephone bill on account

23 Cash 3,300
Accounts Receivable 3,300
To record the collection of cash from the
customer billed on April 13

24 Villanueva, Withdrawals 3,000

Cash 3,000
To record transferred of a personal account

25 Cash 3,600
Painting Revenue 3,600
To record the painting revenue rendered on
cash

27 Notes Payable 2,000

Cash 2,000
To record the settlement of notes payable

29 Wages Expense 1,800

Cash 1,800
To record the cash disbursements of wages
expense
T – ACCOUNTS

CASH
April 2 71,000.00 April 3 50,000.00
7 1,500.00 10 1,600.00
11 4,800.00 12 4,000.00
23 3,300.00 14 1,500 .00
25 3,600.00 15 400.00
18 3,200.00
24 3,000 .00
27 2,000.00
29 1,800.00

P 84,200.00 P 67,500.00

BALANCE: P 16,700.00

ACCOUNTS RECEIVABLE
April 5 4,800.00 April 11 4,800.00
13 6,200.00 23 3,300.00

P 11,000.00 P 8,100.00
BALANCE: P 2,900.00

PAINTING SUPPLIES
April 4 3,200.00
10 1,600.00
20 2,900.00
BALANCE: P 7,700.00
 PREPAID INSURANCE

April 12 4,000.00

BALANCE: P 4,000.00

PAINTING EQUIPMENT

April 2 12,300.00
20 6,000.00

BALANCE: P 18,300.00

SERVICE VEHICLE
April 3 80,000.00

BALANCE: P 80,000.00

NOTES PAYABLE
April 2 2,000.00 April 3 30,000.00
P 2,000.00 30,000.00
BALANCE: P 28,000.00
 ACCOUNTS PAYABLE
April 18 3,200.00 April 4 3,200.00

20 8,900.00
22 600.00
P 3,200.00 P 12,700.00
BALANCE: P 9,500.00

VILLANUEVA, CAPITAL
April 2 12,300.00
2 71,000.00
BALANCE: P 83,300.00

VILLANUEVA, WITHDRAWALS
April 24 3,000.00
BALANCE: P 3,000.00

PAINTING REVENUES
April 1 1,500.00
5 4,800.00
13 6,200.00
25 3,600.00

BALANCE: P 16,100.00
 WAGES EXPENSE

April 14 1,500.00
29 1,800.00

BALANCE: P 3,300.00

UTILITIES EXPENSE
April 22 600.00

BALANCE: P 600.00

MAINTENANCE EXPENSE

April 15 400.00

BALANCE: P 400.00
 WINNIE VILLANUEVA PAINTING BUSINESS
TRIAL BALANCE
FOR THE MONTH OF APRIL

ACCOUNT TITLES DEBIT CREDIT

CASH P 16,700.00

ACCOUNTS RECEIVABLE 2,900.00

PAINTING SUPPLIES 7,700.00

PREPAID INSURANCE 4,000.00

PAINTING EQUIPMENT 18,300.00

SERVICE VEHICLE 80,000.00

NOTES PAYABLE P 28,000.00

ACCOUNTS PAYABLE 9,500.00

VILLANUEVA, CAPITAL 83,300.00

VILLANUEVA, WITHDRAWALS 3,000.00

PAINTING REVENUES 16,100.00

WAGES EXPENSE 3,300.00

UTILITIES EXPENSE 600.00

MAINTENANCE EXPENSE 400.00

P 136,900.00 P 136,900.00
GROUP 5:
SELMA, RICIELLE ANN R.
TITING, HEIZLE A.
TORRES, GIYA FRANCINE A.
SANSON, NICOLE S.
TORIBIO, JAN RIC B.
SARIOL, HAFSAH A.
AGABON, HONEY DANDIA T.
PROCESO, MAICA R.
PEREZ, LICEL O.
OBING, DEXTER J.
VERTUDES, AICHEE A.