NAME: FELIPE CONCEPCION JR.

BSBA-1A
SUBJECT: ACCOUNTING1 ACTIVITY 3
JOURNAL ENTRY
JULY TRANSACTIONS DEBIT CREDIT
CASH 500,000
OFFICE EQUIPMENT 25,000
2 FURNITURE AND FIXTURE 15,000
TRANPORTATION EQUIPMENT 300,000
MARVIN JAY, CAPITAL 840,000
TAXES AND LICENSE 5,000
3
CASH 5,000
4 BUILDING IMPROVEMENT 25,000
CASH 25,000

ADVERTISING EXPENSE 10,000

CASH 10,000
RENTAL DEPOSIT 50,000
7 GARAGE RENT EXPENSE 11,200
CASH 61,200
TRANSPORTATION EQUIPMENT 1,800,000
10
ACCOUNT PAYABLE 1,800,000
INSURANCE EXPENSES 20,000
11
CASH 20,000
CASH 28,000
12
TRANSPORTATION REVENUE 28,000
ACCOUNTS RECEIVABLE 33,600
15
TRANSPORTATION REVENUE 33,600
SALARIES EXPENSE 10,000
15
CASH 10,000
FURNITURE AND FIXTURE 2,500
16 CASH 2,500

OFFICE SUPPLIES 800

17
CASH 800
CASH 33,600
18
ACCOUNTS RECEIVABLE 33,600
CASH 475,000
19 FINANCING COSTS 25,000
LOANS PAYABLE 500,000
TRANSPORTATION EQUIPMENT 1,200,000
22 CASH 300,000
ACCOUNT PAYABLE 900,000
 REPRESENTATION EXPENSE 2,500
25
CASH 2,500
MAINTENACE EXPENSE 5,000
27
CASH 5,000
CASH 44,800
28
TRANSPORTATION REVENUE 44,800
SALARIES EXPENSE 10,000
30
CASH 10,000
UTILITIES EXPENSE 4,000
31
ACCOUNT PAYABLE 4,000
MARVIN JAY, DRAWING 10,000
31
CASH 10,000
GASOLINE AND OIL EXPENSE 22,000
31
cash 22,000
CASH 13,440
31
TRANSPORTATION REVENUE 13,440
ACCOUNT RECEIVABLE 56,000
31
TRANSPORTATION REVENUE 56,000
4,737,440 4,737,440

THE BEST TRANSPORTATION COMPANY

TRIAL BALANCE
MARCH 31 2013
DEBIT CREDIT
CASH 610,840
ACCOUNT RECIEVABLE 56,000
NOTES RECEIVABLE -
RENTAL DEPOSIT 50,000
OFFICE SUPPLIES 800
OFFICE EQUIPMENT 25,000
FURNITURE & FIXTURE 17,500
TRANSPORTATION EQUIPMENT 3,300,000
BUILDING IMPROVEMENT 25,000
AACOUNT PAYABLE 2,704,000
NOTES PAYABLE -
LOANS PAYABLE 500,000
MARVIN Jay,CAPITAL 840,000
MARVIN , JAY DRAWING 10,000
TRANSPOTATION REVENUE 175,840
GASOLINE & OIL EXPENSE 22,000
GARAGE RENT EXPENSE 11,200
INSURANCE EXPENSE 20,000
MAINTENACE EXPENSE 5,000
SALARIES EXPENSE 20,000
TAXES AND LICENSES 5,000
REPRESENTATION EXPENSE 2,500
UTILITIES EXPENSE 4,000
SUPPLIES EXPENSE -
ADVERTISING EXPENSE 10,000
FINANCING COST 25,000
-
4,219,840 4,219,840
-
chart of account
CASH CASH ACCOUNT RECIEVABLE
ACCOUNT RECIEVABLE 500,000.00 5,000.00 56,000
RENTAL DEPOSIT 28,000.00 25,000.00 33,600
OFFICE SUPPLIES 33,600.00 10,000.00
OFFICE EQUIPMENT 475,000.00 61,200.00
FURNITURE & FIXTURE 44,800.00 20,000.00
TRANSPORTATION EQUIPMENT 13,440.00 10,000.00
BUILDING IMPROVEMENT 2,500.00 56,000.00
ACOUNT PAYABLE 800.00
NOTES PAYABLE 300,000.00 TRANSPORTATION EQUIPMENT
LOANS PAYABLE 2,500.00 300,000
MARVIN Jay,CAPITAL 1,094,840.00 5,000.00 1,800,000
MARVIN , JAY DRAWING 10,000.00 1,200,000
TRANSPOTATION REVENUE 10,000.00
GASOLINE & OIL EXPENSE 22,000.00
GARAGE RENT EXPENSE 610,840.00 484,000.00
INSURANCE EXPENSE 3,300,000.00
MAINTENACE EXPENSE
SALARIES EXPENSE LOANS PAYABLE MARVIN Jay,CAPITAL
TAXES AND LICENSES - 500,000.00
REPRESENTATION EXPENSE
UTILITIES EXPENSE
SUPPLIES EXPENSE
ADVERTISING EXPENSE
FINANCING COST
500,000.00

GARAGE RENT EXPENSE INSURANCE EXPENSE

11,200.00 20,000

1
11,200.00 20,000.00
balance?
REPRESENTATION EXPENSE UTILITIES EXPENSE
2,500.00 4,000
 2,500.00 4,000.00

THE BEST TRANSPORTATION COMPANY

INCOME STATEMENT
FOR THE MONTH ENDED MARCH 31, 2013

REVENUE
TRANSPOTATION REVENUE 175,840.00

EXPENSES
GASOLINE & OIL EXPENSE 22,000.00
GARAGE RENT EXPENSE 11,200.00
INSURANCE EXPENSE 20,000.00
MAINTENACE EXPENSE 5,000.00
SALARIES EXPENSE 20,000.00
TAXES AND LICENSES 5,000.00
REPRESENTATION EXPENSE 2,500.00
UTILITIES EXPENSE 4,000.00
SUPPLIES EXPENSE -
ADVERTISING EXPENSE 10,000.00
FINANCING COST 25,000.00 124,700.00
NET INCOME 51,140.00
 THE BEST TRANSPORTATION COMPANY
CAPITAL STATEMENT
FOR THE MONTH ENDED MARCH 31, 2013

MARVIN Jay,CAPITAL 840,000.00

NET INCOME 51,140.00
MARVIN , JAY DRAWING - 10,000.00
TOTAL CAPITAL 881,140.00

THE BEST TRANSPORTATION COMPANY

BALANCE SHHET
FOR THE MONTH ENDED MARCH 31, 2013

ASSET
CURRENT AASSET
CASH 610,840.00
ACCOUNT RECIEVABLE 56,000.00
NOTES RECEIVABLE -
RENTAL DEPOSIT 50,000.00
TOTAL CURRENT ASSSET 716,840.00

NON-CURRENT ASSET
OFFICE SUPPLIES 800.00
OFFICE EQUIPMENT 25,000.00
FURNITURE & FIXTURE 17,500.00
TRANSPORTATION EQUIPMENT 3,300,000.00
BUILDING IMPROVEMENT 25,000.00
TOTAL CURRENT ASSSET 3,368,300.00

TOTAL ASSET 4,085,140.00

LAIBILITIES
AACOUNT PAYABLE 2,704,000.00
NOTES PAYABLE -
LOANS PAYABLE 500,000.00
TOTAL IABILITIES 3,204,000.00
EQUITY
TOTAL CAPITAL 881,140.00

TOTAL LIABILITY + CAPITAL 4,085,140.00

-
ACCOUNT RECIEVABLE RENTAL DEPOSIT OFFICE SUPPLIES OFFICE EQUIPMENT
33,600 50,000 800 25,000

50,000 800.00 25,000

NSPORTATION EQUIPMENT BUILDING IMPROVEMENT ACOUNT PAYABLE NOTES PAYABLE

25,000 - 1,800,000 -
900,000
4,000

25,000 2,704,000 -

MARVIN Jay,CAPITAL MARVIN , JAY DRAWING TRANSPOTATION REVENUE GASOLINE & OIL EXPENSE
840,000 10,000 - 28,000 22,000
33,600
44,800
13,440
56,000

840,000.00 10,000 175,840 22,000.00

INSURANCE EXPENSE MAINTENACE EXPENSE SALARIES EXPENSE TAXES AND LICENSES

5,000 10,000 5,000
10,000

5,000 ### 5,000.00

UTILITIES EXPENSE SUPPLIES EXPENSE ADVERTISING EXPENSE FINANCING COST

- 22,000 10,000 25,000
- 22,000 ### 25,000.00
FURNITURE & FIXTURE NOTES RECEIVABLE
15,000
2,500 -

17,500 -