(Journalizing, Posting to the Ledger and Preparation of Trial Balance).

For Journalizing Transactions, I limit myself to use a maximum of 2 spaces for your explanation.
For Posting, we are using the three-column account please indicate the balance every posting and double
rule the final balances for each ledger.

Below is the chart of accounts of Jay Laundry Services and the transactions for the first month of business:

CHART OF ACCOUNTS:
1. ASSETS
11 Cash
12 Accounts Receivable
13 Office Supplies
14 Prepaid Rent
15 Washing Machine
16 Dryer
2. LIABILITIES
21 Accounts Payable
22 Unearned Revenue
3. EQUITY
31 Jay Z. Dominggo, Capital
32 Drake E. Fernandez, Drawing
4. INCOME
41 Laundry Service Revenue
5. EXPENSES
51 Wages Expense
52 Utilities Expense

a. October 1, 2022 – Jay Z. Dominggo established Jay Laundry services. He invested cash of
P50,000.00, washing machine worth P250,000.00 and dryer worth P100,000.00.
b. October 4, 2022, the business paid in advance with cash 6 months’ worth of rent P20,000.00 on a
prime location near a school
c. October 10, 2022, Jay Laundry Services provided service to their first customer in exchange of
cash of P1,000.00.
d. October 11, 2022, bought office supplies of P3,000.00 on account.
e. October 17, 2022, Jay Laundry Services accepted and provided services of P5,000.00 on account.
f. October 17, 2022, Jay Laundry Services partially paid his debt of P1,500.00.
g. October 20, 2022, Drake Fernandez withdrew P2,000 from the business for his personal living
expenses.
h. October 22, 2022, Jay Laundry Services received payment in advance of P2,000.00 for to reserve
a slot on the laundry service on November 3.
i. October 22, 2022, Jay Laundry Services received partial payment of P2,500.00 from customer
that acquired their services on account.
j. October 30, 2022, Jay Laundry Services paid the staff their wages of P3,000.00 and the business
electricity bill of P3,000.00.
`
GENERAL JOURNAL (J) PAGE 1
DATE DESCRIPTION PR DEBIT CREDIT
2022
Oct 1 Cash 11 5 0 0 0 0 -
Washing Machine 15 2 5 0 0 0 0 -
Dryer 16 1 0 0 0 0 0 -
Jay Z. Dominggo Capital 31 4 0 0 0 0 0 -
To record initial
Investment

4 Prepaid Rent 14 2 0 0 0 0 -
Cash 11 2 0 0 0 0 -
To record advance payment
of rent.

10 Cash 11 1 0 0 0 -
Laundry Service Revenue 41 1 0 0 0 -
To record services rendered.

11 Office Supplies 13 3 0 0 0 -
Accounts Payable 21 3 0 0 0 -
To record purchase on
account.

17 Accounts Receivable 12 5 0 0 0 -
Laundry Service Revenue 41 5 0 0 0 -
To record services rendered
on account.

17 Accounts Payable 21 1 5 0 0 -
Cash 11 1 5 0 0 -
To record payment of
accounts payable.

20 Jay Z. Dominggo, Drawing 32 2 0 0 0 -

Cash 11 2 0 0 0 -
To record withdrawal.

22 Cash 11 2 0 0 0 -
Unearned Revenue 22 2 0 0 0 -
To record advance payment.

22 Cash 11 2 5 0 0 -
Accounts Receivable 12 2 5 0 0 -
To record receipt of
payment of receivable.

30 Wages Expense 51 3 0 0 0 -
Utilities Expense 52 3 0 0 0 -
Cash 11 6 0 0 0 -
To record wages and
utilities paid.

CASH ACCOUNT NO. 11

Date Items PR Debit Credit Balance
2022
Oct 1 J-1 5 0 0 0 0 - 5 0 0 0 0 -
4 J-1 2 0 0 0 0 - 3 0 0 0 0 -
10 J-1 1 0 0 0 - 3 1 0 0 0 -
17 J-1 1 5 0 0 - 2 9 5 0 0 -
20 J-1 2 0 0 0 - 2 7 5 0 0 -
22 J-1 2 0 0 0 - 2 9 5 0 0 -
22 J-1 2 5 0 0 - 3 2 0 0 0 -
30 J-1 6 0 0 0 - 2 6 0 0 0 -

ACCOUNTS RECEIVABLE ACCOUNT NO. 12

Date 2022 Items PR Debit Credit Balance

OCT 1 J-1 5 0 0 0 - 5 0 0 0 -
7
2 J-1 2 5 0 0 - 2 5 0 0 -
2

OFFICE SUPPLIES ACCOUNT NO. 13

Date Items PR Debit Credit Balance
2022
OCT 11 J-1 3 0 0 0 - 3 0 0 0 -

PREPAID RENT ACCOUNT NO. 14

Date Items PR Debit Credit Balance
2022
OCT 4 J-1 2 0 0 0 0 - 2 0 0 0 0 -

WASHING MACHINE ACCOUNT NO. 15

Date Items PR Debit Credit Balance
2022
OCT 1 J-1 2 5 0 0 0 0 - 2 5 0 0 0 0 -

DRYER ACCOUNT NO. 16

Date Items PR Debit Credit Balance
2022
OCT 1 J-1 1 0 0 0 0 0 - 1 0 0 0 0 0 -

ACCOUNTS PAYABLE ACCOUNT NO. 21

Date 2022 Items PR Debit Credit Balance
OCT 1 J-1 3 0 0 0 - 3 0 0 0 -
1
1 J-1 1 5 0 0 - 1 5 0 0 -
7

UNEARNED REVENUE ACCOUNT NO. 22

Date 2022 Items PR Debit Credit Balance
OCT 22 J-1 2 0 0 0 - 2 0 0 0 -
JAY Z. DOMINGGO, CAPITAL ACCOUNT NO. 31
Date Items PR Debit Credit Balance
2022
OCT 1 J-1 4 0 0 0 0 0 - 4 0 0 0 0 0 -

JAY Z DOMINGGO, DRAWING ACCOUNT NO. 32

Date Items PR Debit Credit Balance
OCT 22 J-1 2 0 0 0 - 2 0 0 0 -

LAUNDRY SERVICE REVENUE ACCOUNT NO. 41

Date Items PR Debit Credit Balance
OCT 10 J-1 1 0 0 0 - 1 0 0 0 -
17 J-1 5 0 0 0 - 6 0 0 0 -

WAGES EXPENSE ACCOUNT NO. 51

Date Items PR Debit Credit Balance
OCT 30 J-1 3 0 0 0 - 3 0 0 0 -

UTILITIES EXPENSE ACCOUNT NO. 52

Date Items PR Debit Credit Balance
OCT 30 J-1 3 0 0 0 - 3 0 0 0 -

Prepare your trial balance here:

JAY LAUNDRY SERVICES

TRIAL BALANCE
OCTOBER 31, 2022

Account Name Debit Credit

CASH 26,000-
ACCOUNTS RECEIVABLE 2,500-
OFFICE SUPPLIES 3,000-
PREPAID RENT 20,000-
WASHING MACHINE 250,000-
DRYER 100,000-
ACCOUNTS PAYABLE 1,500-
UNEARNED REVENUE 2,000-
JAY Z. DOMINGGO, CAPITAL 400,000-
JAY Z. DOMINGGO, DRAWING 2,000-
LAUNDRY SERVICE REVENUE 6,000-
WAGES EXPENSE 3,000-
UTILITIES EXPENSE 3,000-
TOTAL 409,500- 409,500-