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    Untitled Spreadsheet 1

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    VALENCIA, JOSE JOREL E.
    The general journal document records transactions made by J. Madela Repair Shop in June. It includes capital investment from the owner, purchase of equipment and supplies using cash, payment of rent, salaries and utilities expenses, collection of revenue from services and accounts receivable, and withdrawal of cash by the owner. The accounting entries are divided into debits and credits with increases to asset and expense accounts on the debit side and increases to liability and owner's equity accounts on the credit side.

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    Untitled Spreadsheet 1

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    VALENCIA, JOSE JOREL E.
    19 views3 pages
    The general journal document records transactions made by J. Madela Repair Shop in June. It includes capital investment from the owner, purchase of equipment and supplies using cash, payment of rent, salaries and utilities expenses, collection of revenue from services and accounts receivable, and withdrawal of cash by the owner. The accounting entries are divided into debits and credits with increases to asset and expense accounts on the debit side and increases to liability and owner's equity accounts on the credit side.

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    The general journal document records transactions made by J. Madela Repair Shop in June. It includes capital investment from the owner, purchase of equipment and supplies using cash, payment of rent, salaries and utilities expenses, collection of revenue from services and accounts receivable, and withdrawal of cash by the owner. The accounting entries are divided into debits and credits with increases to asset and expense accounts on the debit side and increases to liability and owner's equity accounts on the credit side.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    19 views3 pages

    Untitled Spreadsheet 1

    Uploaded by

    VALENCIA, JOSE JOREL E.
    The general journal document records transactions made by J. Madela Repair Shop in June. It includes capital investment from the owner, purchase of equipment and supplies using cash, payment of rent, salaries and utilities expenses, collection of revenue from services and accounts receivable, and withdrawal of cash by the owner. The accounting entries are divided into debits and credits with increases to asset and expense accounts on the debit side and increases to liability and owner's equity accounts on the credit side.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    of 3

    GENERAL JOURNAL

    Date Description P/R Debit Credit


    June 2023
    1 Cash ₱30,000.00
    Madela, Capital ₱30,000.00
    Cash Investment by the owner

    4 Equipment ₱10,000.00
    Cash ₱10,000.00
    Purchase equipment through cash

    7 Rent Expense ₱4,000.00


    Cash ₱4,000.00
    Paid June rent

    9 Supplies ₱5,000.00
    Cash ₱5,000.00
    Purchase supplies through cash

    10 Account Receivable ₱4,000.00


    Service Revenue ₱4,000.00
    Received account through service

    11 Account Payable ₱2,500.00


    Cash ₱2,500.00
    Advertising cost in account

    12 Cash ₱8,200.00
    Repair revenue ₱8,200.00
    Receive cash for repair service

    16 Madela, Drawing ₱5,000.00


    Cash ₱5,000.00
    The owner withdrew cash for personal use.

    19 Salary Expense ₱2,000.00


    Cash ₱2,000.00
    Payment for salary
    23 Utilities Expense ₱1,400.00
    Cash ₱1,400.00
    Paid utility bill

    30 Account Receivable ₱2,400.00


    Cash ₱2,400.00
    Collect partial payment from customer

    J.MADELA REPAIR SHOP


    ASSESTS Acct. No.
    Cash 101
    Accounts Receivable 102
    Supplies 103

    LIABILITIES
    Accounts Payable 201

    CAPITAL
    J. Madela, Capital 301
    J. Madela, Drawing 302

    REVENUE
    Service Revenue 401

    EXPENSES
    Utilities Expense 501
    Supplies Expense 502
    Salary Expense 503
    Rent Expense 504
    Cash
    Debit Credit
    6/1 30000 10000 6/4
    6/11 2500 4000 6/7
    6/12 8200 5000 6/9
    5000 6/16
    2000 6/19
    1400 6/23

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