EXERCISES:

I. Journalize the following transactions using a General Journal below:

March 1 Mrs. Lanie Mercado invested P150,000 cash on her business “Mercado All Around
Services”
3 Rendered Service to a client on account, P4,000.
4 Bought computer on account from Emcor, P40,000
10 Mrs. Mercado withdrew cash of P5,000.
12 Paid office rental for the month, P1,000.
15 Mrs. Mercado made a partial payment of her account at Emcor, P3,000.
16 Mrs. Mercado invested office table worth P10,000.
19 Mrs. Mercado has made partial collection of a client’s account. P2,000.
20 Borrowed money from Metrobank and issued a note, P10,000
21 Mrs. Mercado made a partial payment of her account at Emcor, P2,000
25 Received cash for services rendered, P3,000
28 Bought office supplies at CS Trading on account, P5,000.
30 Made a partial payment of P1,000 to CS trading
30 Paid Metrobank for borrowed money in full amount.
 GENERAL JOURNAL

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 II. From your Journal entries in Requirement No. 1, Post the accounts to their respective Ledgers that follow.

Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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3 3

Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account
Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
1 1
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3 3

Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
1 1
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Account Title:
Post Post
Date Description Debit Date Description Credit Balance
Ref . Ref .
1 1
2 2
3 3

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III. Extract the ledger balances from requirement No. 2 and prepare the Trial
Balance

A Proprietor Business
TRIAL BALANCE
For the period March 31, 2020
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