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Mr. Edgar Esparaguera is a professional accountant. He ventured in a milling business to serve
the nee the rural areas of Dipolog City. With a given chart of accounts, record in a two-column
General Journal for the first month of operation on April 2014.
Dipolog Rice Mill

Chart of Accounts
Page Account Particulars Page Account Particul

No. No. No. No.
Assets Owner's E
1 101 Cash in Bank 10 301 E. Esparaguera
2 102 Petty Cash Fund 11 302 E. Esparaguera
3 103 Accounts Receivable
4 104 Advances to Employees Incom
5 105 Diesoline Inventory 12 401 Milling Income
6 106 Satake Rice Mill 13 401-A Other Income
7 107 Furniture and Fixtures
Expens
Liabilities 14 501 Salaries and W
8 201 Accounts Payable 15 502 Taxes and Licen
9 202 Unearned Milling 16 503 Repairs and Ma
Income
17 504 Light and Wate
Transactions for the Month:

April 1 - Mr. Edgar Esparaguera invests cash of P100,000. He deposited the P99,000 in Land Ba
P1,000 as petty cash fund to pay for small expenses. He also invests a Satake Rice
Mill installation cost worth P950,000 and Furniture amounting to P80,000 for a total
P1,130,000.
3 - Purchased diesoline worth P15,000 account from Caltex
Philippines. 5 - Paid licenses and business permits to the city
government, P2,800. 7 - Salary advance of an employee deductible
88 - PPaaiidd mmiinnoorr rreeppaaiirrss,, PP550000.. TThhiiss wwaass
from payroll,ffrroomm
ttaakkeenn P3,000. tthhee PPeettttyy CCaasshh FFuunndd..
1144 -- RReecceeiivveedd ccaasshh ffoorr
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Dipolog Rice Mill
 Sheet Music Journal Entry
20A Particulars Folio Debit Credit

April 1 Cash in Bank JV - 1
99,000 Petty Cash Fund JV - 2
1,000
Satake Rice Mill JV - 6 950,000
Furniture and Fixtures JV - 7 80,000
E. Esparaguera, Capital JV - 10
1,130,00 Investment of E.
Esparaguera.
3 Diesoline Inventory JV - 5 15,000

Accounts Payable JV - 8
15,00 Purchased on
Account.
5 Taxes and Licenses JV - 15 2,800

Cash in Bank JV - 1
2,80 Paid Taxes and
Licenses to the
City Government.
7 Advances to Employees JV - 4 3,000

Cash in Bank JV - 1
Advance for Employees. 3,00 Cash
You're Reading a
8 Repairs an
d Maintenance JV - Preview
Petty C16 Unlock full access with a
ash Fund
Paid JV - 2 free trial.
Minor Repairs from
5
500 0
Download With Free Trial
14 Cash in Bank JV - 1 9,000

Milling Income JV - 12
9,00 Received Cash for
Milling Services.

18 E. Esparaguera, Drawing JV - 11 8,000
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Cash in Bank
Withdrawal of E. Esparaguera
JV - 1
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28 Cash in Bank JV - 1 7,000

 Sheet Music Unearned Milling Income JV - 9
7,00 Received Cash last
still no services
has been rendered.
29 Light and Water JV - 17 8,000

Cash in Bank JV - 1 8,00
Paid the Light and Water.
30 Salaries and Wages JV - 14 15,000

Advances to Employees JV - 4 3,00
Cash in Bank JV - 1 12,00
Paid the Payroll less the
cash advance.
Accounts Receivable JV - 3 25,000

Milling Income JV - 12
25,00 Billed customer for
milling services
rendered.
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Documents Dipolog Rice Mill
General Ledger
 Sheet Music
ASSETS

CASH IN BANK
20A Particular F Debit 20A Particular F
April 1 Investment JE - 1 P 99,000 April 5 Taxes and Licenses JE -
14 Received Cash JE - 1 P 9,000 7 Advances to Employees JE -
27 Partial Collection JE - 2 P 10,000 18 Withdrawal JE -
28 Received Cash JE - 2 P 7,000 23 Paid account in full JE -
29 Light and Water JE -
30 Cash Advance JE -
P 76,200 P 125,000
A
PETTY CASH FUND

April 1 Investment JE - 1 P 1,000 April 8 Paid Minor Repairs JE -
P 500 P 1,000
A
ACCOUNT RECEIVABLE
You're Reading a
20A Particular F Preview
Debit 20A P articular F
April 20 Rendered Services E-1 P 18,000 April 29 Light and Water JE -
Unlock full access with a free
Milling Services E-2 P trial.
25,000
P 33,000 P 43,000
Download With Free
Trial
A
ADVANCES TO EMPLOYEES
20A Particular F Debit 20A Particular
F
April 7 Cash Advance JE - 1 P 3,000 April 30 Payroll JE -

P 3,000 
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FURNITURE AND FIXTURES

 Sheet Music
F
April 1 Investment JE - 1 P 80,000
P 80,000
LIABILITIES
A
ACCOUNTS PAYABLE
April 23 Paid Account in Full JE - 2 P 15,000 April 3 Purchased on Account JE -
P 15,000
A
UNEARNED MILLING INCOME

April 28 Received Cash JE -
OWNER'S EQUITY
A
E. ESPARAGUERA, CAPITAL
20A Particular F You're
Debit Reading a Preview
20A Part icular F
April
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A
E. ESPARAGUERA, DRAWING
20A F Debit 20A Particular F
Particular
April 18 Withdrawal JE - 2 P 8,000
P 8,000
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Ac
 Sheet Music
SALARIES AND
WAGES
April 30 Paid Payroll to Employees JE - 1 P 15,000
P 15,000
Ac
TAXES AND LICENSES

April 5 Taxes and Licenses JE - 1 P 2,800
P 2,800
Ac
REPAIRS AND MAINTENANCE

April 8 Paid Minor Repairs JE - 1 P 500
P 500
Ac
LIGHT AND WATER

April 29 Light and Water JE - 2 P 8,000
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Accounting
Multiple Choice
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Tall Erp 9 Notes
and Practice
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Dipolog Rice Mill
 Sheet Music Trial Balance
April 20A
Debit Credit
Account Titles Folio
Balance Balance
Cash in Bank 1 76,200
Petty Cash Fund 2 500
Accounts Receivable 3 33,000
Diesoline Inventory 5 15,000
Satake Rice Mill 6 950,000
Furniture and Fixtures 7 80,000
Unearned Milling Income 9 7,000
E. Esparaguera, Capital 10 1,130,000
E. Esparaguera, Drawing 11 8,000
Milling Income 12 52,000
Salaries and Wages 14 15,000
Taxes and Licenses 15 2,800
Repairs and Maintenance 16 500
Light and Water 17 8,000
TOTAL 1,189,000 1,189,000
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Dipolog Rice Mill

Page Account Particulars Page Account Particul

Transactions for the Month:

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 Sheet Music Journal Entry

20A Particulars Folio Debit Credit

3 Diesoline Inventory JV - 5 15,000

5 Taxes and Licenses JV - 15 2,800

7 Advances to Employees JV - 4 3,000

14 Cash in Bank JV - 1 9,000

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28 Cash in Bank JV - 1 7,000

29 Light and Water JV - 17 8,000

30 Salaries and Wages JV - 14 15,000

Accounts Receivable JV - 3 25,000

Unlock full access with a free trial.

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PETTY CASH FUND

April 7 Cash Advance JE - 1 P 3,000 April 30 Payroll JE -

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FURNITURE AND FIXTURES

UNEARNED MILLING INCOME

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TAXES AND LICENSES

REPAIRS AND MAINTENANCE

LIGHT AND WATER

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