Module 2

2.3.2.5 Elaborate - Financial Transaction Worksheet

B. Jamison Rental Services
Financial Transaction Worksheet
For the month of June, 2021
ASSETS
Accounts
Date Transaction Cash + Receivable +
1-Jun Opened a business bank account with a deposit
of P100,000 from personal funds. 100,000
4-Jun Purchased supplies on account, P11,500.
10-Jun Received cash on fees earned for managing
rental property, P45,000. 45,000
12-Jun Paid rent on office and equipment for the
month, P25,000. (25,000)
14-Jun Paid some accounts, P6,750. (6,750)
16-Jun Billed property owners for fees earned for
managing rental property, P32,500. 32,500
18-Jun Paid telecommunications expenses for the
month, P9,800 and miscellaneous expenses, (17,550)
P7,750.
20-Jun Paid office salaries, P15,000. (15,000)
22-Jun Used P2,000 worth of supplies
30-Jun Withdrew cash for personal use, P10,000. (10,000)
Total 70,700 32,500

Required:
1. Show by addition/subtraction the effect of each of the transactions on the equation.
Identify the changes in owner’s equity by placing the letter I (Income), E (Expense), W (Withdraw) or INV (Inve
 n Rental Services
nsaction Worksheet
onth of June, 2021
ASSETS LIABILITIES & OWNER’S EQUITY
Office Accounts I/E/
Supplies + Equipment = Payable + Jamison, Capital W/Inv

100,000 INV
11,500 11,500 E
45,000 I

(25,000) E
(6,750) E
32,500 I

(17,550) E

(15,000) E
(2,000) (2,000) E
(10,000) W
9,500 0 4,750 107,950

e), W (Withdraw) or INV (Investment) in the owner’s equity.