TRANSACTION ASSETS LIABILITIES OWNER’S EQUITY

S
DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT
1.Investment of Cash 50,000 J. Dela Cruz
50,000 by Engr. Debit EQUITY
J.Dela Cruz to 50,000
his business Credit
2.Payment of Cash 300 Taxes and
business taxes Credit Licenses
300 300
Debit
3.Purchase of Office Cash 10,000
office furniture Furniture Credit
for cash 10,000 10,000
Debit

4.Purchase of Office Account

office Equipment Payable
equipment on 15,000 15,000
account 15,000 Debit Credit

5.Partial Cash Account

payment of the 12,000 Payable
account in no. Credit 12,000
#4 12,000 Debit
6. Payment of Cash 5,000 Rent Expenses
office rent for Credit 5,000
the month Debit
5,000
7. Receipt of Cash Fees
cash for 30,000 Income/Professional
professional Debit fees
services 30,000 Credit
rendered to a
client 30,000
8. Billing of Account Fees Income
another client Receivables Credit
for professional 5,000
services Debit
rendered 5,000
9. Partial Cash, Account
collection in 3,000 Receivable
cash for the Debit 3,000
billing made in Credit
no.#8 3,000
10. Payment of Cash Salaries and
salaries of 8,000 Wages
employees for Credit 8,000
the month Debit
8,000
11. Payment of Cash Utilities
water and 1,000 Expenses
electricity for Credit 1,000
the month Debit
1,000

12. Withdrawal Cash J. Dela Cruz

of cash by 7,000 Credit Drawing
Engr.J dela Cruz
for his personal
use 7,000