1.

Complete the matrix by identifying on which side(debit or cr

Items Increase
1. Cash Debit
2. Suppliers' Account Credit
3. Rent Expense Debit
Robles, Capital Credit
5. Laboratory Fees Revenue Credit
6. Customers’ Accounts Debit
7. Bank Loan Credit
8. Robles, Drawings Debit
9. Deposit for Rent Debit
10. Advances from Clients Credit
on which side(debit or credit) will each of the following increase:

Increase
Debit
Credit
Debit
Credit
Credit
Debit
Credit
Debit
Debit
Credit
 2. A. Which of these accounts will likely be 1.) d

ACCOUNT TITLES
a.) Accounts Receivable
b.) Accounts payable
c.) Salary Expense
d.) Taxes Due the Government
e.) Diva, Capital
f.) Advances from Customers
g.) Diva, Drawing
h.) Office Supplies
i.) Supplies Expense
j.) Rent Income
k.) Rent Deposit
l.) Building
m.) Commission Earned
n.) Depreciation expense
ccounts will likely be 1.) debit entries only 2.) credit entries only 3.) both debit and credit entries?

A. B.
Both credit & debit entries Debit Side
Both credit & debit entries Debit Side
Debit entries only Debit Side
Credit entries only Credit Side
Both credit & debit entries Debit Side
Credit entries only Credit Side
Credit entries only Debit Side
Both credit & debit entries Debit Side
Debit entries only Debit Side
Credit entries only Credit Side
Both credit & debit entries Debit Side
Both credit & debit entries Debit Side
Credit entries only Credit Side
Debit entries only Debit Side
ries?
 3. Given below are selected transactions

Current Assets

101 Cash
Date Debit Credit
2-Jan 100,000
3-Jan 16,000
5-Jan 25,000
11-Jan 11,250
20-Jan 10,000
25-Jan

67,500

102 Accounts Receivable

Date Debit Credit
11-Jan 11,250
20-Jan 10,000
11,250 10,000
1,250

103 Materials & Supplies

Date Debit Credit
16-Jan 7,000 5,000
2,000

Plants and Equipment

201 Equipment
Date Debit Credit
5-Jan 50,000
50,000

Leo Garcia, landscaper

Unadjusted Trial Balance
January 31, Current Year

ACCOUNTS
CASH
 Accounts Receivable
Materials & Supplies
Equipment
Accounts Payable
Notes Payable
Utilities Payable
Garcia, Capital
Garcia, Drawings
Service Income
Advertising Expense
Rent Expense
Supplies Expense
Utilities Expense
TOTAL

General Ledger

Cash
Date Explanation Ref. Debit
2-Jan-20 101 P 100,000.00
3-Jan-20 101
5-Jan-20 101
11-Jan-20 101 P 11,250.00
20-Jan-20 101 P 10,000.00
25-Jan-20 101
28-Jan-20 101

Accounts Receivable
Date Explanation Ref. Debit
jan 11,2020 102 P 11,250.00
20-Jan-20 102

Materials and Supplies

Date Explanation Ref. Debit
16-Jan-20 103 P 7,000.00

Equipment
Date Explanation Ref. Debit
5-Jan-20 201 P 50,000.00

Accounts Payable
Date Explanation Ref. Debit
16-Jan-20 301
 Utilities Payable
Date Explanation Ref. Debit
31-Jan-20 402

Notes Payable
Date Explanation Ref. Debit
5-Jan-20 401
P 12,500.00

Garcia, Capital
Date Explanation Ref. Debit
2-Jan-20 501

Garcia, Drawings
Date Explanation Ref. Debit
28-Jan-20 502 P 5,000.00

Service Income
Date Explanation Ref. Debit
Jan 11,2020 601

Expenses
Date Explanation Ref. Debit
3-Jan-20 701 P6,000.00
3-Jan-20 702 P 10,000.00
30-Jan-20 703 P 5,000.00
31-Jan-20 704
below are selected transactions for January for Leo Garcia, landscaper:

Current Liability

301 Accounts Payable Revenue

Date Debit Credit
16-Jan 7,000 601 Service Revenue
7,000 Date Debit Credit
11-Jan 22,500
Long-Term Liability 22,500

401 Notes Payable Expenses

Date Debit Credit
3-Jan 25,000 701 Advertising Expense
25-Jan 12,500 Date Debit Credit
12,500 3-Jan 6,000
6,000
402 Utilities Payable
Date Debit Credit 702 Rent Expense
31-Jan 5,000 Date Debit Credit
5,000 3-Jan 10,000
10,000
Equity

501 Garcia, Capital

Date Debit Credit
2-Jan 100,000
100,000
704 Supplie Expense
502 Garcia, Drawings Date Debit Credit
Date Debit Credit 30-Jan 5,000
28-Jan 5,000 5,000
5,000
705 Utilities Expense
Date Debit Credit
31-Jan 5,000
5,000

arcia, landscaper
sted Trial Balance
y 31, Current Year

Debit Credit
62,750
 1,250
2,000
50,000
7,000
12,500
5,000
100,000
5,000
22,500
6,000
10,000
5,000
5,000
137,000 124,500

er

Credit Balance
P 100,000.00
P 16,000.00 P 84,000.00
P 25,000.00 P 59,000.00
P70,250.00
P 80,250.00
P 12,500.00 P 67,750.00
P 5,000.00 P 62,750.00

vable
Credit Balance
P 11,250.00
P 10,000.00 P 1,250.00

upplies
Credit Balance
P 7,000.00

t
Credit Balance
P 50,000.00

able
Credit Balance
P 7,000.00 P 7,000.00
ble
Credit Balance
P 5,000.00 P 5,000.00

ble
Credit Balance
P 25,000.00 P -25,000.00
P -12,500.00

tal
Credit Balance
P 100,000.00 P 100,000.00

ngs
Credit Balance
P 5,000.00

me
Credit Balance
P 22,500 P 22,500.00

Credit Balance
P6,000.00
P 13,000.00
P 18,00.00
P 5,000.00 P 13,000.00
 4. The June transactions of Dear Mae for Speedy Delivery Service are given below. Use the follo

June Transactions Source Documents CASH

1 Official Receipt ₱ 300,000.00 ₱ 150,000.00
3 Official Receipt ₱ 25,000.00 ₱ 3,750.00
5 Official Receipt ₱ 10,000.00 ₱ 5,500.00
10 Invoice of Supplier ₱ 15,000.00
12 Official Receipt ₱ 1,000.00
15 Voucher of the business ₱ 159,750.00
15 Official Receipt
20 Service Invoice ACCOUNTS RECEIVABLES
22 Voucher of the business ₱ 17,000.00 ₱ 10,000.00
23 Official Receipt ₱ 7,000.00
25 Voucher of the business
OFFICE SUPPLIES
₱ 3,750.00
₱ 3,750.00

CASH ACCOUNT
Date Explanation Ref Debit Credit

Jun-01 Mac Investement J1 300,000

3 Down payment J1 150,000
5 Purchased office supplies J1 3,750
12 Service cash for service J1 25,000
15 Paid settlement in cash J1 5,500
22 Paid rent in cash J1 15,000
23 Customer paid the account J1 10,000
25 Mac withdrew cash J1 1,000

ACCOUNTS RECEIVABLE ACCOUN

Date Explanation Ref Debit Credit

Jun-20 Billed customer for service J1 17,000

23 Collectd account from Beth J1 10,000

OFFICE SUPPLIES ACCOUN

Date Explanation Ref Debit Credit

Jan-05 Bought Supplies J1 3,750

OFFICE EQUIPMENT ACCOUN
Date Explanation Ref Debit Credit

Jun-10 Purchase equipment J1 27,500

DELIVERY VAN ACCOUN

Date Explanation Ref Debit Credit

Jun-03 Purchase Van J1 300,000

ACCOUNTS PAYABLE ACCOUN

Date Explanation Ref Debit Credit

Jun-03 Purchased Van half on account J1 150,000

10 Purchased equipment on acct. J1 27,500
15 Note settled J1 5,500

CAPITAL ACCOUN
Date Explanation Ref Debit Credit

Jun-01 Mac Capital J1 300,000

DRAWINGS ACCOUNT
Date Explanaation Ref Debit Credit

Jun-25 Mac withdrew cash J1 1,000

DELIVERY FEES EARNED ACCOUN

Date Explanation Ref Debit Credit

Jun-12 Provided Services to OFW J1 25,000

20 Service provided J1 17,000

RENT EXPENSE ACCOUNT

Date Explanation Ref Debit Credit

Jun-22 Mac paid rent J1 15,000

en below. Use the following Chart of Accounts:

SH ACCOUNTS PAYABLE RENT EXPENSE

₱ 150,000.00
₱ 3,750.00
₱ 5,500.00
₱ 15,000.00
₱ 1,000.00
RECEIVABLES
₱ 10,000.00
SUPPLIES
₱ 5,500.00 ₱ 150,000.00 ₱ 15,000.00
₱ 27,500.00 ₱ 15,000.00
₱ 172,000.00
EQUIPMENT CAPITAL, MAC
₱ 300,000.00 ₱ 300,000.00
₱ 27,500.00 ₱ 300,000.00
₱ 327,500.00
DRAWING, MAC
₱ 1,000.00
₱ 1,000.00
SERVICE INCOME
₱ 25,000.00
₱ 17,000.00
₱ 42,000.00

ACCOUNT NO. 101

Balances
Debit Credit
300,000 ACCOUNT NUMBERS ACCOUNT
150,000 101 Cash
146,250 102 Account Receivable
171,250 103 Offices Supplies
165, 750 201 Office Equipment
150,750 202 Delivery van
160,750 301 Accounts Payable
159,750 501 Capital
502 Drawings
ACCOUNT NO. 102 601 Delivery Fees Earned
Balances 701 Rent Expense
Debit Credit Total:
17,000
7,000

ACCOUNT NO. 103

Balances
Debit Credit
3,750
 ACCOUNT NO. 201
Balances
Debit Credit
27,500

ACCOUNT NO. 202

Balances
Debit Credit
300,000

ACCOUNT NO. 301

Balances
Debit Credit
150,000
177,500
172,000

ACCOUNT NO. 501

Balances
Debit Credit
300,000

ACCOUNTS NO. 502

Balances
Debit Credit
1,000

ACCOUNT NO. 601

Balances
Debit Credit
25,000
42,000

ACCOUNT NO. 701

Balances
Debit Credit
15,000
XPENSE

AL, MAC
₱ 300,000.00
₱ 300,000.00

NG, MAC

INCOME
₱ 25,000.00
₱ 17,000.00
₱ 42,000.00

MAC DELIVERY
TRIAL BALANCE
For the month of June
ACCOUNT TITTLES DEBIT CREDIT
Cash P 159,750
Account Receivable 7,000
Offices Supplies 3,750
Office Equipment 27,500
Delivery van 300,000
Accounts Payable P 172000
Capital 300,000
Drawings 1,000
Delivery Fees Earned 42,000
Rent Expense 15,000
P 514,000 P 514,000
5. The T accounts below summarize the ledger of Rachel’s Landscaping Company at the end of its first mon

GENERAL JOURNAL
Date Account Titles & Explanations Ref. Debit
2020
Apr. 1 Cash ₱ 50,000.00
Capital, Rachel
Owner invested on the business

Apr. 4 Supplies ₱ 1,900.00

Accounts Payable
Bought supplies using account

Apr.7 Accounts Receivables ₱ 2,900.00

Service Income
Rendered service on client on account

Apr.12 Cash ₱ 6,000.00

Service Income
Received cash from clients for the service rendered

Apr.15 Salary Expense ₱ 5,000.00

Cash
Paid salaries of workers on business

Apr.25 Accounts Payable ₱ 1,600.00

Cash
Paid debts using cash

Apr.29 Cash ₱ 2,900.00

Accounts Receivables
Received cash clients

Apr.30 Cash ₱ 2,500.00

Accounts Receivables ₱ 2,500.00
Service Income
Received half of service income from clients
the end of its first month of operations.

Credit

₱ 50,000.00

₱ 1,900.00

₱ 2,900.00

₱ 6,000.00

₱ 5,000.00

₱ 1,600.00

₱ 2,900.00

₱ 5,000.00
6. Alice Leynes opened her business called Linis Janitorial and Maintenance Services.Analyze the transacti

Date Analyzation Amount

2020
Oct. 1 Asset increase, debit Cash. ₱ 200,000.00
Owner's Equity increase, credit Leynes, Capital. ₱ 200,000.00
2 Asset increases, debit Furniture and Fixtures. ₱ 30,000.00
Liability increases, credit Accounts Payable. ₱ 30,000.00
8 Asset increases, debit Equipment. ₱ 30,000.00
Asset decreases, credit Cash. ₱ 15,000.00
Liability increases, credit Accounts Payable. ₱ 15,000.00
12 Asset increases, debit Cash. ₱ 100,000.00
Liability increases, credit Notes Payable. ₱ 100,000.00
15 Owner's decreases, debit Salaries Expense. ₱ 80,000.00
Asset decreases, credit Cash. ₱ 80,000.00
18 Owner's equity decreases, debit Advertising Expense. ₱ 5,000.00
Liability increases, credit Accounts Payable. ₱ 5,000.00
20 Asset increases, debit Cash. ₱ 30,000.00
Owner's Equity increases, credit Service revenue. ₱ 30,000.00
21 Liability decreases, debit Accounts Payable. ₱ 15,000.00
Asset decreases, credit Cash. ₱ 15,000.00
24 Asset increases, debit Accounts Receivables. ₱ 50,000.00
Owner's Equity increases, credit Service Revenue. ₱ 50,000.00
25 Asset increases, debit Cash. ₱ 25,000.00
Asset increases, debit Accounts Receivables. ₱ 25,000.00
Owner's Equity increases, credit Service Revenue. ₱ 50,000.00
26 Owner's equity decreases, debit Utilities Expense. ₱ 17,500.00
Asset decreases, credit Cash. ₱ 17,500.00
30 Asset increases, debit Cash. ₱ 12,500.00
Asset decreases, credit Accounts Receivables. ₱ 12,500.00
rvices.Analyze the transactions given below as to what values are affected, whether the effect is an increase or decrease and w
increase or decrease and whether the account should be debited or credited.
7. On April 5, Timothy established an interior decorating business, Tim’s Design, with a cash investment of

GENERAL JOURNAL
Date Account Titles & Explanations Ref.
2020
Apr. 5 Cash
Capital, Timothy
Owner invested cash on business

6 Rent Expense
Cash
Paid for rent of the business

7 Equipment
Timothy, Capital
Bought equipment of the business using owner's credit card

8 Truck
Cash
Bank Loan Payable
Purchased car for the business, 56% of which is on loan

10 Supplies
Cash
Purchased supplies using cash

12 Cash
Service Fees Earned
Received cash from services rendered to clients

Supplies Expense
Supplies
Supplies were used up to the business

20 Supplies
Accounts Payable
Purchased business' supplies using credit

23 Accounts Receivables
Services Fees Earned
Performed services on clients on account

Supplies Expense
 Supplies
Supplies were used up to the business

24 Repair Expense
Cash
Paid to repair service for the business

25 Utilities Expense
Cash
Paid for utilities of the business

26 Bank Loan Payable

Cash
Paid a certain amount to loan payable

27 Cash
Accounts Receivables
Received cash from the client

28 Salaries Expense
Cash
Paid the business workers' salaries

29 Drawing, Timothy
Cash
Owner withdrew cash from the business

30 Drawing, Timothy
Cash
Owner withdrew cash from the business

Tim’s Design,
TRIAL BALANCE
April 30, Current Year
ACCOUNT TITLES DEBIT
Cash ₱ 128,435.00
Accounts Receivables ₱ 4,950.00
Supplies ₱ 14,565.00
Equipment ₱ 55,000.00
Truck ₱ 180,000.00
Accounts Payable
Bank Loan Payable
Capital, Timothy
Drawing, Timothy ₱ 8,500.00
Service Fees Earned
Salaries Expense ₱ 5,000.00
Rent Expense ₱ 8,000.00
Repairs Expense ₱ 4,500.00
Supplies Expense ₱ 11,750.00
Utilities Expense ₱ 1,750.00
TOTAL ₱ 422,450.00
n, with a cash investment of P200,000. Timothy completed the following transactions for April:

AL C
Debit Credit Date Explanation
2020
₱ 200,000.00 Apr. 5
₱ 200,000.00 6
8
10
₱ 8,000.00 12
₱ 8,000.00 24
25
26
₱ 55,000.00 27
₱ 55,000.00 28
29
30
₱ 180,000.00
₱ 80,000.00 ACCOUNTS
₱ 100,000.00 Date Explanation
2020
Apr. 23
₱ 11,315.00 27
₱ 11,315.00
SUP
Date Explanation
₱ 57,500.00 2020
₱ 57,500.00 Apr.10
12
20
₱ 3,500.00 23
₱ 3,500.00
EQUI
Date Explanation
₱ 15,000.00 2020
₱ 15,000.00 Apr. 7

TR
₱ 14,950.00 Date Explanation
₱ 14,950.00 2020
Apr. 8

₱ 3,500.00 BANK LOA

 ₱ 3,500.00 Date Explanation
2020
Apr. 8
₱ 4,500.00 26
₱ 4,500.00
ACCOUN
Date Explanation
₱ 1,750.00 2020
₱ 1,750.00 Apr. 20

TIMOTH
₱ 20,000.00 Date Explanation
₱ 20,000.00 2020
Apr. 5
7
₱ 10,000.00
₱ 10,000.00 TIMOTHY
Date Explanation
2020
₱ 5,000.00 Apr. 29
₱ 5,000.00 30

SERVICE F
₱ 5,000.00 Date Explanation
₱ 5,000.00 2020
Apr. 12
23
₱ 3,500.00
₱ 3,500.00

Design,
ALANCE
urrent Year
DEBIT CREDIT

₱ 15,000.00
₱ 80,000.00
₱ 255,000.00
₱ 72,450.00

₱ 422,450.00
 CASH
nation Ref. Debit Credit Balance Date
2020
11 ₱ 200,000.00 ₱ 200,000.00 Apr. 28
11 ₱ 8,000.00 ₱ 192,000.00
11 ₱ 80,000.00 ₱ 112,000.00
11 ₱ 11,315.00 ₱ 100,685.00 Date
11 ₱ 57,500.00 ₱ 158,185.00 2020
11 ₱ 4,500.00 ₱ 153,685.00 Apr. 6
11 ₱ 1,750.00 ₱ 151,935.00
11 ₱ 20,000.00 ₱ 131,935.00
11 ₱ 10,000.00 ₱ 141,935.00 Date
11 ₱ 5,000.00 ₱ 136,935.00 2020
11 ₱ 5,000.00 ₱ 131,935.00 Apr. 24
11 ₱ 3,500.00 ₱ 128,435.00

ACCOUNTS RECEIVABLES Date

nation Ref. Debit Credit Balance 2020
Apr. 12
12 ₱ 14,950.00 ₱ 14,950.00 23
12 ₱ 10,000.00 ₱ 4,950.00

SUPPLIES Date
nation Ref. Debit Credit Balance 2020
Apr. 25
13 ₱ 11,315.00 ₱ 11,315.00
13 ₱ 3,500.00 ₱ 7,815.00
13 ₱ 15,000.00 ₱ 22,815.00
13 ₱ 3,500.00 ₱ 19,315.00

EQUIPMENTS
nation Ref. Debit Credit Balance

16 ₱ 55,000.00 ₱ 55,000.00

TRUCK
nation Ref. Debit Credit Balance

18 ₱ 180,000.00 ₱ 180,000.00

BANK LOANS PAYABLE

nation Ref. Debit Credit Balance

21 ₱ 100,000.00 ₱ 100,000.00
21 ₱ 20,000.00 ₱ 80,000.00

ACCOUNTS PAYABLE
nation Ref. Debit Credit Balance

22 ₱ 15,000.00 ₱ 15,000.00

TIMOTHY, CAPITAL
nation Ref. Debit Credit Balance

31 ₱ 200,000.00 ₱ 200,000.00
31 ₱ 55,000.00 ₱ 255,000.00

TIMOTHY, DRAWING
nation Ref. Debit Credit Balance

32 ₱ 5,000.00 ₱ 5,000.00
32 ₱ 3,500.00 ₱ 8,500.00

SERVICE FEES EARNED

nation Ref. Debit Credit Balance

41 ₱ 57,500.00 ₱ 57,500.00
41 ₱ 14,950.00 ₱ 72,450.00
 SALARIES EXPENSE
Explanation Ref. Debit Credit Balance

51 ₱ 5,000.00 ₱ 5,000.00

RENT EXPENSE
Explanation Ref. Debit Credit Balance

53 ₱ 8,000.00 ₱ 8,000.00

REPAIRS EXPENSE
Explanation Ref. Debit Credit Balance

54 ₱ 4,500.00 ₱ 4,500.00

SUPPLIES EXPENSE
Explanation Ref. Debit Credit Balance

55 ₱ 3,500.00 ₱ 3,500.00
55 ₱ 3,500.00 ₱ 3,500.00

UTILITIEES EXPENSE
Explanation Ref. Debit Credit Balance

59 ₱ 1,750.00 ₱ 1,750.00
 Balance

₱ 5,000.00

Balance

₱ 8,000.00

Balance

₱ 4,500.00

Balance

₱ 3,500.00
₱ 3,500.00

Balance

₱ 1,750.00
8. On October 1, Sancho Dy, business consultant, opened Business Solutions Company. A range

Business Solutions Company

General Journal
1-Oct-20

Date Accounts Debit Credit

1-Oct Cash 50,000
Office Equipment 80,000
Computer Supplies 20,000
Dy, Capital 150,000
Initial investment to his company

3-Oct Supplies 8,420

Accounts Payable 8,420
Purchased supplies using a credit

6-Oct Accounts Receivable 4,800

Service Income 4,800
Billed customer for the service rendered

8-Oct Accounts Payable 8,420

Cash 8,420
Paid liability to Office Warehouse

12-Oct Accounts Receivable 14,000

Service Income 14,000
Billed customer for the service rendered

15-Oct Cash 2,400

Accounts Receivable -2,400

Received half payment of the client

17-Oct Repair Expense 1,500

Cash 1,500
Paid ro repair damage on equipment

20-Oct Advertising Expense 1,750

Cash 1,750
Paid for advertising of the business

22-Oct Cash 2,400

Accounts Receivable 2,400
Received the remaining blanced of client
28-Oct Cash 7,600
Accounts Receivable 7,600
Service Income 15,200
Billed client for service rendered

29-Oct Rent Expense 11,100

Utilities Expense 11,100
Accounts Payable 22,200
Paid the business' bills

30-Oct Dy, Drawings 3,000

Supplies Expense 3,400
Supplies 6,400
Withdraw supplies on business

31-Oct Salaries Expense 5,000

Cash 5,000
Paid for the worker's salary
tions Company. A range of consulting services is provided but his expertise lies in computer system installation and customer p

Business Solutions Company

Trial Balance
October 1,2020

ACCOUNTS Debit Credit

Cash 45,730
Accounts Receivable 21,600
Office Equipment 80,000
Computer Supplies 20,000
Office Supplies 2,020
Accounts Payable 22,200
Dy, Capital 150,000
Dy, Drawings 3,000
Service Income 34,000
Repair Expense 1,500
Advertising Expense 1,750
Rent Expense 11,100
Utilities Expense 11,100
Supplies Expense 3,400
Salaries Expense 5,000
TOTAL 206,200 206,200

General Le

Cash
Date Explanation Ref.
1-Oct-20 1
8-Oct-20 1
15-Oct-20 1
17-Oct-20 1
20-Oct-20 1
22-Oct-20 1
28-Oct-20 1
31-Oct-20 1

Supplies
Date Explanation Ref.
1-Oct-20 1
10/3/2020 1
10/30/2020 1

Accounts Receivable
 Date Explanation Ref.
6-Oct-20 1
12-Oct-20 1
15-Oct-20 1
22-Oct-20 1
28-Oct-20 1

Plant, Property, and Equip

Date Explanation Ref.
1-Oct-20 11

Accounts Payable
Date Explanation Ref.
3-Oct-20 20
8-Oct-20 20
29-Oct-20 20

Dy, Capital
Date Explanation Ref.
1-Oct-20 30

Dy, Drawings
Date Explanation Ref.
30-Oct-20 30

Service Income
Date Explanation Ref.
6-Oct-20 40
12-Oct-20 40
28-Oct-20 40

Expenses
Date Explanation Ref.
17-Oct-20 50
20-Oct-20 50
29-Oct-20 50
30-Oct-20 50
31-Oct-20 50
stallation and customer program development. The following transactions took place:

Chart of Accounts

Account
Number Account Description
Type
1 Cash Assets
2 Supplies Assets
3 Accounts Receivable Assets
11 Computer Equipment Assets
12 Office Equipment Assets
20 Accounts Payable Liabilities
30 Dy, Drawing Equity
31 Dy, Capital Equity
40 Service Income Revenues
50 Repair Expense Expenses
51 Advertisement Expense Expenses
52 Rent Expense Expenses
53 Utilities Expense Expenses
54 Supplies Expense Expenses
54 Salaries Expense Expenses

General Ledger

Cash
Debit Credit Balance
P 50,000.00 P 50,000.00
P 8,420.00 P 41,580.00
P 2,400.00 P 43,980.00
P 1,500.00 P42,480.00
P 1,750.00 P 40,730.00
P 2,400.00 P 43,130.00
P 7,600.00 P 50,730.00
P 5,000.00 P 45, 730.00

Supplies
Debit Credit Balance
P 20,000.00 P 20,000.00
P 8,420.00 P 20,8420.00
P 6,400.00 P 22,020.00

Accounts Receivable
 Debit Credit Balance
P 4,800.00 P 4,800.00
P 14,000.00 P 18,800.00
P 2,400.00 P 21,200.00
P 2,400.00 P 18,800.OO
P 7,600.00 P 21,600.00

lant, Property, and Equipment

Debit Credit Balance
P 80,000.00 P 80,000.00

Accounts Payable
Debit Credit Balance
P 8,420.00 P 8,420.00
P 8,420.00 P 0.00
P 22,200.00 P 22,200.00

Dy, Capital
Debit Credit Balance
P 150,000.00 P 150,000.00

Dy, Drawings
Debit Credit Balance
P 3,000.00 P 3,000.00

Service Income
Debit Credit Balance
P 4,800.00 P 4,800.00
P 14,000.00 P 18, 800.00
P 15,200.00 P 34,000.00

Expenses
Debit Credit Balance
P 1,500.00 P 1,500.00
P 1,750.00 P 3,250.00
P 22,200.00 P 25,450.00
P 3,400.00 P 28,850.00
P 5,000.00 P 33,850.00
ts

Statement
Balance Sheet
Balance Sheet
Balance Sheet
Balance Sheet
Balance Sheet
Balance Sheet
Balance Sheet
Balance Sheet
Income Statement
Income Statement
Income Statement
Income Statement
Income Statement
Income Statement
Income Statement
9.Using the journal entries journal entries prepared in no.8, do the following:Open two customer’s cards,
Yes, it matches the tally of accounts receivable in general ledger and schedule of accounts.

Business Solutions Company

Schedule of Accounts Receivable

Easy Internet
Date Item Ref. Debit Credit
6-Oct-20 Sales Journal 1 P 4,800.00

Fast Internet Shop

Date Item Ref. Debit Credit
12-Oct Sales Journal 1 P 14,000.00

Easy Internet
Date Item Ref. Debit Credit
15-Oct-20 Cash Receipt 1 P 2,400.00

Easy Internet
Date Item Ref. Debit Credit
22-Oct-20 Cash Receipt P 2,400.00

IMC Company
Date Item Ref. Debit Credit
28-Oct-20 Sales Journal P 7,600.00
ng:Open two customer’s cards, make postings, and prepare a schedule of accounts receivable. Referto your general ledger Acco
er and schedule of accounts.

Balance
P 4,800.00

Balance
P 14,000.00

Balance
P 2,400.00

Balance
P 2,400.00

Balance
P 7,600.00
your general ledger Accounts Receivable. Did the balance tally with the balances of the accounts receivable ledgers you prepar
ceivable ledgers you prepared here in no.9?
10. Dr. Ignacio opened her Skin Care Clinic at Horizon Plaza with the transactions for the month of March.

Dr. Ignacio Skin Care Clinic

General Journal
31-Mar-20
DATE ACCOUNT DESCRIPTION
Mar 1 Cash
Dr. Ignacio, Capital

Owner’s Investment of cash in the

business

5 Medical Equipment
Cash
Purchased medical equipment
with 50% down
payment

10 Supplies
Cash
Purchase supplies on cash

12 Office Equipment
Accounts Payable
Bought office equipment

15 Cash
Service Revenue
Received cash for the service
rendered

19 Accounts Payable
Cash
Paid Delta Equipment one third of
the outstanding
account

20 Utility Expenses
Cash
Utility expenses paid

25 Rent Expense
 Advertising Expense
Cash
Paid rent and advertising bills

27 Cash
Service Revenue
Cash collected for rendering
service

29 Medical Equipment
Cash
Paid half of the balance on
medical equipment
bought on March 5

30 Salary Expenses
Cash
Paid the salaries of a nurse and
medical intern

31 Cash
Earned Service Revenue
Collected cash for the service
rendered including the
half of Mr. Mateo’s account

GENERAL LEDGER | CASH

DATE ACCOUNT DESCRIPTION REF DEBIT

Mar 1 Owner's investment in the business J1 ₱ 150,000.00

5 Purchased medical equipment with J1

50% down payment
10 Purchase supplies on cash J1
15 Received cash for the service J1 ₱ 50,000.00
rendered
19 Paid Delta Equipment one third of the J1
outstanding account
20 Utility expenses paid J1
25 Paid rent and advertising bills J1
27 Collected cash for rendering service J1 ₱ 45,000.00
 29 Paid half of the balance on medical J1
equipment bought on
March 5

30 Paid the salaries of a nurse and J1

medical intern
31 Collected cash for the service J1 ₱ 30,000.00
rendered including the half of
Mr. Mateo’s account

TOTAL ₱ 275,000.00

GENERAL LEDGER | MEDICAL EQUIPMENT

DATE ACCOUNT DESCRIPTION REF
Mar 5 Purchased medical equipment with 50% down payment J1
29
Paid half of the balance on medical equipment bought
on TOTAL

GENERAL LEDGER | SUPPLIES

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 10 Purchase supplies on cash J1 ₱ 17,850.00

TOTAL ₱ 17,850.00

GENERAL LEDGER | OFFICE EQUIPMENT

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 12 Bought office equipment J1 ₱ 15,000.00
TOTAL ₱ 15,000.00

GENERAL LEDGER | ACCOUNTS PAYABLE

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 12 Bought office equipment J1
19 Paid Delta Equipment one third of the J1 ₱ 5,000.00
outstanding account
TOTAL ₱ 5,000.00

GENERAL LEDGER | SERVICE REVENUE

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 15 Received cash for the service J1
rendered
27 Collected cash for rendering service J1

31 Collected cash for the service J1

rendered including the half of
Mr. Mateo’s account
 TOTAL

GENERAL LEDGER | DR. IGNACIO, CAPITAL

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 1 Owner’s Investment of cash in the busi J1
TOTAL

GENERAL LEDGER | UTILITY EXPENSES

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 20 Utility expenses paid J1 ₱ 18,500.00
TOTAL ₱ 18,500.00

GENERAL LEDGER | RENT EXPENSES

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 25 Paid rent and advertising bills J1 ₱ 15,000.00
TOTAL ₱ 15,000.00

GENERAL LEDGER | ADVERTISING EXPENSES

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 25 Paid rent and advertising bills J1 ₱ 10,000.00
TOTAL ₱ 10,000.00

GENERAL LEDGER | SALARY EXPENSES

DATE ACCOUNT DESCRIPTION REF DEBIT
Mar 30 Paid the salaries of a nurse and J1 ₱ 36,000.00
medical intern TOTAL ₱ 36,000.00
actions for the month of March.

r. Ignacio Skin Care Clinic

General Journal
31-Mar-20
DEBIT CREDIT
Chart of Accounts
P150,000
P150,000
Number Account Description

101 Cash
102 Supplies
₱ 45,000.00 201 Medical Equipment
₱ 45,000.00 202 Office Equipment

301 Accounts Payable

501 Dr. Ignacio, Capital

₱ 17,850.00 601 Service Revenue
₱ 175,850.00 701 Utility Expense
702 Rent Expense
703 Advertising Expense
₱ 15,000.00 704 Salary Expense
₱ 15,000.00
DR. IGNACIO’S SKIN CA
TRIAL
Tiral BALAN
Balance
₱ 50,000.00 March 30,202
₱ 50,000.00 REF ACCOUNTS
101
Cash
102 Supplies
₱ 5,000.00 201 Medical Equipment
₱ 5,000.00 202 Office Equipment
301
Accounts Payable

501 Dr. Ignacio, Capital

₱ 18,500.00 601 Service Revenue
₱ 18,500.00 701 Utility Expense
702 Rent Expense
703
Advertising Expense

₱ 15,000.00 704
Salary Expense
 ₱ 10,000.00
₱ 25,000.00 TOTAL

₱ 45,000.00
₱ 45,000.00

₱ 22,500.00
₱ 22,500.00

₱ 36,000.00
₱ 36,000.00

₱ 30,000.00
₱ 30,000.00

CREDIT BALANCE

₱ 150,000.00

₱ 45.00 ₱ 105,000.00

₱ 17,850.00 ₱ 87,150.00
₱ 137,150.00

₱ 5,000.00 ₱ 132,150.00

₱ 185,000.00 ₱ 113,650.00
₱ 25,000.00 ₱ 88,650.00
₱ 133,650.00
 ₱ 22,500.00 ₱ 111,150.00

₱ 36,000.00 ₱ 75,150.00

₱ 169,850.00 ₱ 105,150.00

IPMENT
DEBIT CREDIT BALANCE
₱ 45,000.00 ₱45,000.00
₱ 22,500.00 ₱67,500.00
₱67,500.00 - ₱ 67,500.00

CREDIT BALANCE
₱ 17,850.00

- ₱ 17,850.00

CREDIT BALANCE
₱ 15,000.00
₱ 15,000.00

CREDIT BALANCE
₱ 15,000.00 ₱ 15,000.00
₱ 10,000.00

₱ 15,000.00 ₱ 10,000.00

CREDIT BALANCE
₱ 50,000.00 ₱ 50,000.00

₱ 45,000.00 ₱ 45,000.00

₱ 30,000.00 ₱ 30,000.00
₱ 125,000.00 ₱ 125,000.00

CREDIT BALANCE
₱ 150,000.00 ₱ 150,000.00
₱ 150,000.00 ₱ 150,000.00

CREDIT BALANCE

₱ 18,500.00

CREDIT BALANCE
₱ 15,000.00
₱ 15,000.00

CREDIT BALANCE
₱ 10,000.00
₱ 10,000.00

CREDIT BALANCE
₱ 36,000.00
₱ 36,000.00
 Chart of Accounts

Account Type
Statement

Assets Balance Sheet

Assets Balance Sheet
Assets Balance Sheet
Assets Balance Sheet

Liabilities Balance Sheet

Equity Balance Sheet

Revenues Income Statement
Expenses Income Statement
Expenses Income Statement
Expenses Income Statement
Expenses Income Statement

DR. IGNACIO’S SKIN CARE CLINIC

TRIAL
Tiral BALANCE
Balance
March 30,2020
DEBIT CREDIT BALANCE
P105,150 P105,150

₱ 17,850.00 ₱ 17,850.00
₱ 67,500.00 ₱ 67,500.00
₱ 15,000.00 ₱ 15,000.00
P10,000 -₱ 10,000.00

₱ 150,000.00 ₱ 150,000.00
₱ 125,000.00 ₱ 125,000.00
₱ 18,500.00 ₱ 18,500.00
₱ 15,000.00 ₱ 15,000.00
₱ 10,000.00 ₱ 10,000.00

₱ 36,000.00 ₱ 36,000.00
₱ 285,000.00 ₱ 285,000.00 ₱ -
11. Using the journal entries prepared in no. 10, do the following:Open two customer’s cards, make postin
There is no Accounts Receivable transaction in number 10.
stomer’s cards, make postings, and prepare a scheduleof accounts receivable.Refer to your general ledger Accounts Receivable
ledger Accounts Receivable. Did the balance tally with the balances of the accounts receivable ledgers you prepared here in no
ers you prepared here in no.11?
12. The trial balance of the Sterling investigative Services shown next age does not balance.Your review of the gene

Sterling Investigative Services

Unadjusted Trial Balnce
March31,2017

Debit Credit Corrections

Cash 55,800 5,000

Accounts Receivable 27,500
Rent Deposit 7,000 1,000
Equipment 80,000
Accounts Payable 45,000 -1,000
Taxes Payable 10,300 -9,400
Silver, Capital 117,000
Proffesional Fees 66,900
Salaries Expense 42,000
Advertising Expense 11,000
Representation Expense 8,000 1,000
251,700 210,800
alance.Your review of the general ledger reveals that each account has a normal balance. You also discovered the following errors.

Sterling Investigative Services

Adjusted Trial Balnce
March31,2017

Debit Credit Corrections

Cash 55,800 5,000 5,000

Accounts Receivable 25,700
Rent Deposit 8,000 1,000
Equipment 80,000
Accounts Payable 44,000 -1,000
Taxes Payable 900 -9,400
Silver, Capital 117,000
Proffesional Fees 69,600
Salaries Expense 42,000
Advertising Expense 11,000
Representation Expense 9,000 1,000
231,500 231,500
d the following errors.
13. The trial balance as of July 31, 2017was prepared by the secretary of Bayanihan Modeling Agency. The

Bayanihan Modeling Agency

Unadjusted Trial Balance
July 31,2017
Incorrect
Debit Credit
Cash 43,000
Accounts Receivable 18,400
Supplies Unused 5.084
Prepaid Insurance 3,000
Equipment 58,786
Accumulated Depriciation 15,000
Notes Payable 14,000
Accounts Payable 5,650
Pitoy Moreno, Capital 73,000
Pitoy, Drawing 2,000
Talent Fees 145,280
Salaries Expense 46,500
Rent Expense 6,000
Advertising Expense 12,100
Utilities Expense 5,920
Depreciation Expense 5,000
Insurance Expense 7,000
Transportation Expense 16,400
Interest Expense
229,190 252,930
nihan Modeling Agency. The following errors were discovered:

Bayanihan Modeling Agency

Trial Balance
July 31,2017
Corrections
Debit Credit Debit Credit
Cash 47,500 4,500
Accounts Receivable 30,400 6,000 6,000
Supplies Unused 5,084
Prepaid Insurance 3,000
Equipment 58,786
Accumulated Depriciation 15,000
Notes Payable 9,000 -5,000
Accounts Payable 5,650
Pitoy Moreno, Capital 72,500 -500
Pitoy Moreno, Drawing 2,500
Talent Fees 145,280
Salaries Expense 49,500 3,000
Rent Expense 6,000
Advertising Expense 12,100
Utilities Expense 6,420 500
Depreciation Expense 5,000
Insurance Expense 7,000
Transportation Expense 13,400 -3,000
Interest Expense 740 740
247,430 247,430 6,240 6,000