ABM 11

Activity 3
Tolentino, Prince LG B.
Prepare the journal entries of the following transactions: Follow the example for No.1 entry

Accounts Title Debit Credit

1. Cash ∕ ∕
Owner’s Equity

∕ ∕
2. Paid rent for the past
∕ ∕
3. Purchase office supplies in cash ∕ ∕

∕
4. Purchase transportation equipment account ∕
∕

5. Provides service on account ∕ ∕

∕ ∕
6. Owners withdraws asset from business.
∕
7. Borrows money from the bank ∕

∕
8. Received bills of electricity for the month. ∕

∕
9. Paid annual insurance in cash. ∕

∕ ∕
10. Paid cash on account on transaction No. 4
∕
11. Paid electricity on Transaction No. 8 ∕

∕ ∕
12. Unpaid interest in loan
∕
13. Salaries paid for the month ∕

14. The owner invested cash to establish the business. ∕ ∕

15. Received cash fees for services rendered. ∕ ∕

16. Bought supplies for paying cash. ∕ ∕

17. The owner made an additional investment in the business. ∕ ∕

18. Acquired furniture on account. ∕

∕

19. A partial payment was made on transaction number 18. ∕

20. The owner used his personal cash for the full payment ∕
∕
transaction number 18.

21. Received cash for services rendered to clients. ∕ ∕

∕
22. Collected cash for services rendered to clients. ∕
23. Settled the personal liability of the owner by using ∕ ∕

Cash of the business

∕ ∕
24. Paid salaries of employees
∕ ∕
25. Purchased equipment by paying cash.

26. The owner took cash from the business for personal use. ∕

27. Paid monthly rent of the office. ∕

28. Sent bills to clients for services rendered on account ∕

29. Made a partial collection of customer’s account ∕

30. Owner made additional investment in cash in the business ∕