Instruction: Indicate each account's classification and normal balance by placing X marks.

OWNER'S EQUITY
ASSET LIABILITY FERRER, CAPITAL FERRER, WITHDRAWALS REVENUES EXPENSES
Cash
Salaries Expense
Accounts Receivable
Ferrer, Capital
Service Revenues
Prepaid Rent
Accounts Payale
Land
Supplies Expense
Prepaid Insurance
Utitlies Expense
Ferrer, Withdrawals
Salaries Payable
Unearned Revenues
Office Equipment
Rent Payable
Notes Receivable
Interest Expense
Supplies
Interest Receivable
Rent Expense
NORMAL BALANCE
DEBIT CREDIT
 On May 1,2020, Analyn Evangelista opened Self-Service Laundry. During May, the
following transacions were completed:
ACCOUNTS 2020
Cash May a.
Accounts Receivable
Prepaid Insurance
Supplies b.
Equipment
Furnture and Fixtures
Accounts Payable c.
Evangelista, Capital
Evangelista, Withdrawals
Laundry Revenues d.
Salaries Expense
Rent Expense
Utilities Expense e.
Miscellaneous Expense

f.

g.

h.

i. Received and paid electric bill,P2,080

j.

k.

l.

m.
n.
On May 1,2020, Analyn Evangelista opened Self-Service Laundry. During May, the
following transacions were completed:
TRANSACTIONS 2020
Evangelista deposited P250,000 in a bank account in the name of the business May a.

Bought chairs and a table paying cash, P6,700 b.

Bought laundry supplies on account from Subic Supply Inc., P3,250 c.

Paid rent for the month, P5,750 d.

Bought washing machines and dryers from Bataan Equipment Corp., P115,000, e.
paying P35,000 in cash and the balance on credit

Revenues earned on cash basis for the first half of the month, P19,250 f.

Bought insurance for one year, P5,600 g.

Paid accounts to Bataan Equipment Corp., P7,000 h.

i. Received and paid electric bill,P2,080 i.

Revenues earned on cash for the second half of the month, P12,350 j.

Paid salaries of the part-time assistant, P7,400 k.

Evangelista withdrew cash for personal use, P5,000 l.

Paid accounts to Subic Supply Inc., P2,750 m.

Paid the city government for sidewalk repair assessment, P2,800. n.
 GENERAL JOURNAL

ACCOUNT TITLES P.R. DR. CR. Cash

Cash / 250,000 a. 250,000 6,700 b.
Evangelista, Capital / 250,000 f. 19,250 5,750 d.
j. 12,350 35,000 e.
Furniture and Fixtures 6,700 5,600 g.
Cash / 6,700 7,000 h.
2,080 i.
Supplies / 3,250 7,400 k.
Accounts Payable / 3,250 5,000 l.
2,750 m.
Rent Expense / 5,750 2,800 n.
Cash / 5,750 281,600 80,080

Equipment / 115,000 201,520 n.

Cash / 35,000
Accounts Payable / 80,000

Cash / 19,250
Laundry Revenues / 19,250 Accounts Payable
h. 7,000 3,250 c.
Prepaid Insurance / 5,600 m. 2,750 80,000 e.
Cash / 5,600 9,750 83,250
73,500
Accounts Payable / 7,000 83,250 83,250
Cash / 7,000

Utilities Expense / 2,080

Cash / 2,080

Cash / 12,350
Laundry Revenues / 12,350

Salaries Expense / 7,400

Cash / 7,400

Evangelista, Withdrawals / 5,000

Cash / 5,000

Accounts Payable / 2,750

Cash / 2,750
Miscellaneous Expense / 2,800
Cash / 2,800
 GENERAL LEDGER

Accounts Receivable Prepaid Insurance Supplies Equipment

g. 5,600 c. 3,250 e. 115,000

Evangelista, Capital Evangelista, Withdrawals Laundry Revenues Salaries Expense

250,000 a. l. 5,000 19,250 f. k. 7,400
12,350 j.
31,600

Miscellaneous Expense Utilities Expense

2,800 i. 2,080
 Self-Service Laundry
Unadjusted Trial Balance
Equipment Furnture and Fixtures 31-May-20
b. 6,700
Cash 201,520
Accounts Receivable
Prepaid Insurance 5,600
Supplies 3,250
Salaries Expense Rent Expense Equipment 115,000
d. 5,750 Furniture and Fixtures 6,700
Accounts Payable
Evangelista, Capital
Evangelista, Withdrawals 5,000
Laundry Revenues
Salaries Expense 7,400
Rent Expense 5,750
Utilities Expense 2,080
Miscellaneous Expense 2,800
TOTAL 355,100
 73,500
250,000

31,600

355,100
 Instructions:
1
2
3

Fidel Antonio recently established a business that will operate as Antonio Cleaning
Service. The transactions for July 2020 are presented below:
ACCOUNTS 2020
Cash July 1
Accounts Receivable
Cleaning Supplies
Prepaid Insurance 3
Cleaning Equipment
Service Vehicle
Notes Payable 5
Accoutns Payable
Antonio, Capital
Antonio, Withdrawals 6
Cleaning Revenues
Salaries Expense
Rent Expense
Advetising Expense 7
Telephone Expense
Miscellaneous Expense
9

10

12

13

14

15

16

20
22

25

25

27

28
Instructions:
Prepare Journal Entries
Post the entries to the ledger (T-account)
Prepare a Trial Balance

Fidel Antonio recently established a business that will operate as Antonio Cleaning
Service. The transactions for July 2020 are presented below:
TRANSACTIONS 2020
Deposited P62,000 cash in bank account in the name of the new entity.

Acquired cleaning supplies on account, P21,400.

Acquired cleaning equipment on account, P15,600.

Acquired an old service vehicle costing P47,000 for the business paying
P10,000 cash, and financing the remaining balance by issuing a note payable.

Paid rent on office space for the month, P7,300

Received P31,800 cash for cleaning services rendered.

Paid for a newspaper advertisement, P1,700.

Paid for insurance for the next six months by recording prepaid insurance,
P4,800.

Paid P9,000 on account

Paid miscellaneous expenses, P2,200.

Billed customers P18,600 for cleaning services rendered.

Paid salaries, P8,400.

Received P9,800 from customers billed on July 15.

Paid amount due on the note payable, P2,400.

Paid telephone expense, P900.

Paid salaries, P7,900.

Billed customers for cleaning services rendered, P22,500.

Withdrew P10,000 from the business.

 Cash

GENERAL JOURNAL

ACCOUNT TITLES P.R. DR. CR.

 GENERAL LEDGER

Accounts Receivable Cleaning Supplies Prepaid Insurance Cleaning Equipment

Notes Payable Accounts Payable Antonio, Capital Antonio, Withdrawals

Salaries Expense Rent Expense Advertising Expense Telephone Expense

 Antonio Cleaning Services
Unadjusted Trial Balance
Cleaning Equipment Service Vehicle 31-Jul-20

Cash
Accounts Receivable
Cleaning Supplies
Prepaid Insurance
Antonio, Withdrawals Cleaning Revenues Cleaning Equipment
Service Vehicle
Notes Payable
Accoutns Payable
Antonio, Capital
Antonio, Withdrawals
Telephone Expense Miscellaneous Expense Cleaning Revenues
Salaries Expense
Rent Expense
Advetising Expense
Telephone Expense
Miscellaneous Expense
TOTAL