BSENT 1-2 Assignment

Instruction: Journalize the following transaction using the General Journal/ Columnar
with proper labels and indentions. Answers will be checked next meeting.

Exercises for Journalizing, Posting and Preparing a Trial Balance

Problem 1
Jessica Tan opened Tan’s Chiropractic Clinic. The following transactions occurred during June
of this year:
June 2 - Tan invested P187,000 cash in his professional practice.
5 - Tan invested in the firm his professional equipment with a fair market value of
P72,500.
7- Bought a filing cabinet on account from Office Essentials, P8,260.
8- Paid cash for chairs for the waiting room, P9,620.
9- Bought a personal copier for P15,400 from Office Machines, paying P9,400 down;
the balance due in thirty days.
10- Received and paid telephone bill, P970.
11- Billed patients for professional services performed, P18,150.
17- Received and paid Water bill, P950.
18- Received P3,600 from patients previously billed in transaction June 11
19- Paid in full the accounts related to purchase of a filing cabinet.
20- Paid office rent for the month, P12,850.
25- Received P9,575 cash from walk-in patients.
26- Paid salaries of nurse assistant, P8,270.
30- Tan withdrew cash for personal use, P11,450.

Required: Record the transactions by using the following accounts: Cash; Accounts
Receivable; Office Equipment; Medical Equipment; Accounts Payable; Tan, Capital; Tan,
Withdrawals; Service Revenues; Salaries Expense; Rent Expense; Utilities Expense and
Miscellaneous Expense.