General Instructions

I. Read in advance the forwarded materials.

II. Answer activity 2 AND 3
III. Deadline: OCTOBER 27, 2022 on or before 8:30 PM
III.1 - Convert your answers via PDF File
IV. Details in sending your answer
Save your answer on a google drive and just paste the link on the google form
Filename: PRELIM_Activity 2 and 3_Surname
https://forms.gle/yBWtsfXa5gcvCWbQ6
AE13 - Financial Accounting and Reporting
Topic: Recording Transactions in a Financial Transaction Worksheet, Preparation of T-Accounts and Journalizing

Name:

Winston Apalisoc opened Cagayan Chiropractic Winston Apalisoc opened Cagayan Chiropractic Clinic. The followin
a. Apalisoc invested P180,000 cash in the professional practice.
b. Apalisoc invested in the firm professional equipment with a fair market value of P72,000.
c. Bought a filing cabinet on account from Andrews Office Essentials, P3,260.
d. Paid cash for chairs for the waiting room, P4,620.
e. Bought a multi-function printer for P15,400 from Main Office Machines, paying P7,400 down; the balance
f. Received and paid telephone bill, P990.
g. Billed patients for professional services performed, P16,120.
h. Paid P1,800 as membership dues to the national chiropractic association.
i. Received and paid electric bill, P910.
j. Received P6,900 from patients previously billed in transaction (g).
k. Paid in full accounts related to purchase of a filing cabinet.
l. Paid office rent for the month, P5,000.
m. Received P2,420 cash from walk-in patients.
n. Paid salaries of nurse assistant, P8,250.
o. Apalisoc withdrew cash for personal use, P11,500.
Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Medical Equipment;
Accounts Payable; Apaliçoc, Capital; Apalisoc, Withdrawals; Service Revenues; Salaries Expense; Rent Expense;
Utilities Expense and Miscellaneous Expense.
2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction.
3. Prepare Transaction Worksheet
4. Journalize
AE13 - Financial Accounting and Reporting
Topic: Recording Transactions in a Financial Transaction Worksheet, Preparation of T-Accounts and Journalizing

Winston Apalisoc opened Cagayan Chiropractic Winston Apalisoc opened Cagayan Chiropractic Clinic. The following transac
a. Apalisoc invested P180,000 cash in the professional practice.
b. Apalisoc invested in the firm professional equipment with a fair market value of P72,000.
c. Bought a filing cabinet on account from Andrews Office Essentials, P3,260.
d. Paid cash for chairs for the waiting room, P4,620.
e. Bought a multi-function printer for P15,400 from Main Office Machines, paying P7,400 down; the balance is due in
f. Received and paid telephone bill, P990.
g. Billed patients for professional services performed, P16,120.
h. Paid P1,800 as membership dues to the national chiropractic association.
i. Received and paid electric bill, P910.
j. Received P6,900 from patients previously billed in transaction (g).
k. Paid in full accounts related to purchase of a filing cabinet.
l. Paid office rent for the month, P5,000.
m. Received P2,420 cash from walk-in patients.
n. Paid salaries of nurse assistant, P8,250.
o. Apalisoc withdrew cash for personal use, P11,500.
Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Medical Equipment;
Accounts Payable; Apaliçoc, Capital; Apalisoc, Withdrawals; Service Revenues; Salaries Expense; Rent Expense;
Utilities Expense and Miscellaneous Expense.
2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction.
3. Prepare Transaction Worksheet
4. Journalize
The following transactions occurred during June of this year

n; the balance is due in thirty days.

 Journal

Date Account Titiles and Explanation P.R.

a Cash xx
Apaliçoc, Capital
To record investment of Apalisoc

b Medical Equipment xx
Apaliçoc, Capital
To record investment of Apalisoc oif medical equipment

c Office Equipment
Accounts Payable
 1. Establish the following T-accounts: Cash; Accoun
Accounts Payable; Apaliçoc, Capital; Apalisoc, With
Expense; Utilities Expense

Debit Credit
₱180,000.00
₱180,000.00 Cash
₱180,000.00

72,000.00
72,000.00

3,260.00
3,260.00

180,000.00 -
₱180,000.00

Med Equipment
₱72,000.00
₱72,000.00

A. Withdrawals

Rent Expense Utilities Expen

 -

255,260.00 255,260.00
 ccounts: Cash; Accounts Receivable; Office Equipment; Medical Equipment;
Capital; Apalisoc, Withdrawals; Service Revenues; Salaries Expense; Rent
ense; Utilities Expense and Miscellaneous Expense.

Accounts Receivable Off. Equipment

₱3,260.00
-

₱3,260.00

Accounts Payable A. Capital

₱3,260.00 ₱180,000.00
72,000.00
- 3,260.00 ₱252,000.00
₱3,260.00

Service Revenue Salaries Expense

-
-

Utilities Expense Misc. Expense

 -
-
 TRIAL BALANCE

DEBIT CREDIT
ASSET XX
LIABILITY XX
EQUITY XX
WITHDRAWAL XX
REVENUE XX
EXPENSES XX

TRIAL BALANCE

DEBIT CREDIT

Cash 180,000.00
Accounts Receivable -
Office Equipment 3,260.00
Medical Equipment 72,000.00
Accounts Payable 3,260.00
Apalisoc, Capital 252,000.00
Apalisoc, Withdrawal -
Service Revenue -
Salaries Expense -
Rent Expense -
Utilities Expense -
Miscellaneous Expense -
Total 255,260.00 255,260.00
-
AE13 - Financial Accounting and Reporting
Topic: Recording Transactions in a Financial Transaction Worksheet, Preparation of T-Accounts and Journalizing

Name:

Recording Transactions in T-Accounts and Preparing a Trial Balance

Benigno Sorima, a dentist, established Sorima Clinic. The following transactions

occurred during June of this year:

a. Sorima deposited P280,000 in a bank account in the name of the business.

b. Bought a 3-in-1 office equipment from Pitular Equipment for P4,950, paying P1,000 in cash and the bala
c. Bought waiting room chairs and a table, paying cash, P12,300.
d. Bought office intercom on account from NE Office Supply, P2,750.
e. Received and paid the telephone bill, P1,080.
f. Performed professional services on account, P12,940.
g. Received and paid the electric bill, P1,850.
h. Received and paid the bill for the Regional Dental Convention, P3,500.
i. Performed professional services for cash, P17,650.
j. Partially settled accounts with NE Office Supply, P1,000.
k. Paid rent for the month, P8,400.
l. Paid salaries of the part-time receptionist, P3,500.
m. Sorima withdrew cash for personal use, P8,500.
n. Received P5,500 on account from patients who were previously billed.

Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Office Furniture; Accounts
Payable; Sorima, Capital; Sorima, Withdrawals; Professional Fees; Salaries Expense; Rent Expense; Utilities Expense
and Miscellaneous Expense.
2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction.
3. Prepare Transaction Worksheet
4. Journaliz
AE13 - Financial Accounting and Reporting
Topic: Recording Transactions in a Financial Transaction Worksheet, Preparation of T-Accounts and Journalizing

Name:

Recording Transactions in T-Accounts and Preparing a Trial Balance

Benigno Sorima, a dentist, established Sorima Clinic. The following transactions

occurred during June of this year:

a. Sorima deposited P280,000 in a bank account in the name of the business.

b. Bought a 3-in-1 office equipment from Pitular Equipment for P4,950, paying P1,000 in cash and the balance o
c. Bought waiting room chairs and a table, paying cash, P12,300.
d. Bought office intercom on account from NE Office Supply, P2,750.
e. Received and paid the telephone bill, P1,080.
f. Performed professional services on account, P12,940.
g. Received and paid the electric bill, P1,850.
h. Received and paid the bill for the Regional Dental Convention, P3,500.
i. Performed professional services for cash, P17,650.
j. Partially settled accounts with NE Office Supply, P1,000.
k. Paid rent for the month, P8,400.
l. Paid salaries of the part-time receptionist, P3,500.
m. Sorima withdrew cash for personal use, P8,500.
n. Received P5,500 on account from patients who were previously billed.

Required:
1. Establish the following T-accounts: Cash; Accounts Receivable; Office Equipment; Office Furniture; Accounts
Payable; Sorima, Capital; Sorima, Withdrawals; Professional Fees; Salaries Expense; Rent Expense; Utilities Expense
and Miscellaneous Expense.
2. Record the transactions directly into the T-accounts using the alphabets to identify each transaction.
3. Prepare Transaction Worksheet
4. Journaliz
the balance on account.
 Journal

Date Account Titiles and Explanation

14-Jul

15

16

17

18

19

18
 Journal

Account Titiles and Explanation

CASH
NERI CAPITAL
TO RECORD INITIAL CAPITAL AT NERI TO THE BUSINESS

COMPUTER EQUIPMENT
NERI DRAWINGS
TO RECORD PURCHASE OF NERI COMPUTER EQUIPMENT

NO ENTRY

ACCOUNTS RECIEVABLE
SERVICE REVENUE
TO RECORD SERVICE RENDERED AT ALBERTOS CO.

SERVICE REVENUE
ACCOUNTS PAYABLE
TO RECORD SERVICE RENDERED TO MARKO THAT WILL BE PAID ON AUGUST 20

SUPPLIES EXPENSE
ACCOUNTS PAYABLE
TO RECORD PURCHASE OF OFFICE SUPPLIES ON ACCOUNT

SALARIES EXPENSE
CASH
TO RECORD SALARY OF ALELE
 1. Establish the following T-accounts: Cash;
Payable; Sorima, Capital; Sorima, Withdraw
Expens

P.R. Debit Credit

5,000,000.00
5,000,000.00 Cash
5,000,000.00 4,000.00

25,000.00
25,000.00

10,000.00 5,000,000.00 4,000.00

10,000.00 4,996,000.00

15,000.00 COMPUTER Equipment

15,000.00 25,000.00
25,000.00

5,000.00
5,000.00

4,000.00
4,000.00
NERI Withdrawals/ DRAWINGS
25,000.00
25,000.00
 -

5,059,000.00 5,059,000.00
wing T-accounts: Cash; Accounts Receivable; Office Equipment; Office Furniture; Accounts
apital; Sorima, Withdrawals; Professional Fees; Salaries Expense; Rent Expense; Utilities
Expense and Miscellaneous Expense.

Accounts Receivable SUPPLIEs Expense

10,000.00 5,000.00
10,000.00

5,000.00

Accounts Payable NERI Capital

15,000.00 500,000.00
5,000.00
- 20,000.00 500,000.00 -
20,000.00

Service Revenue Salaries Expense

15,000.00 10,000.00 4,000.00
4,000.00
5,000.00
 -
-
 TRIAL BALANCE

DEBIT CREDIT
ASSET XX
LIABILITY XX
EQUITY XX
WITHDRAWAL XX
REVENUE XX
EXPENSES XX

TRIAL BALANCE

DEBIT CREDIT

Cash 4,996,000.00
Accounts Receivable 10,000.00

Computer Equipment 25,000.00

Accounts Payable 20,000.00
Neri, Capital 500,000.00
Neri Withdrawal - 25,000.00
Service Revenue 5,000.00 -
Salaries Expense 4,000.00
SUPPLIES Expense 5,000.00
-
-
Total 5,045,000.00 545,000.00