BEST MORNING!


 OBJECTIVES
1. Identify a transaction whether business
transaction or nonbusiness transaction
2. Prepare journal entries in recording business
transaction
3. Appreciate the importance of journalizing
business transactions
 CASH
Debit Credit
(Dr.) (Cr.)
RENT EXPENSE
Debit Credit
(Dr.) (Cr.)
SERVICE INCOME
Debit Credit
(Dr.) (Cr.)
OWNER, CAPITAL
Debit Credit
(Dr.) (Cr.)
 OWNER,
WITHDRAWAL
Debit Credit
(Dr.) (Cr.)
SALARIES EXPENSE

Debit Credit
(Dr.) (Cr.)
ACCOUNTS PAYABLE

Debit Credit
(Dr.) (Cr.)
SALES RETURNS &
ALLOWANCES
Debit Credit
(Dr.) (Cr.)
 PURCHASE
DISCOUNTS
Debit Credit
(Dr.) (Cr.)
UNEARNED INCOME

Debit Credit
(Dr.) (Cr.)
Anti Piling started a salon business named
Piling’s Salon.
Piling’s Salon had the following transactions
for the month of October 2017:
On October 1, Anti Piling invested P100,000 to start
the business
Date Account Title Debit Credit
(Dr.) (Cr.)
10/1/17 Cash 100, 000
Piling, Capital 100, 000
On October 1, hired Jojo and Jaja to work in their
business.

Date Account Debit Credit

Title (Dr.) (Cr.)
10/1/17 NO ENTRY
On October 2, Anti Piling purchased various supplies to
be used in the salon amounting to P8,500, cash
Date Account Debit Credit
Title (Dr.) (Cr.)
10/2/17 Supplies 8, 500
Cash 8, 500
On October 5, Piling’s Salon had their opening.

Date Account Debit Credit

Title (Dr.) (Cr.)
10/5/17 NO ENTRY
On October 5, Anti Piling purchased various supplies to
be used in the salon amounting to P10, 000, on account

Date Account Title Debit Credit

(Dr.) (Cr.)
10/5/17 Supplies 10, 000
Accounts Payable 10, 000
On October 6, received P1,500 for rendering
services to Mrs. Delos Santos

Date Account Title Debit Credit

(Dr.) (Cr.)
10/6/17 Cash 1, 500
Service Income 1, 500
On October 12, received a total of P10,500
from various customers for rendering services

Date Account Title Debit Credit

(Dr.) (Cr.)
10/12/17 Cash 10, 500
Service Income 10, 500
On October 15, paid salaries of 3
employees, P 2,500 each.

Date Account Title Debit Credit

(Dr.) (Cr.)
10/15/17 Salaries Expense 7, 500
Cash 7, 500
On October 20, borrowed from Mr. Reyes
amounting to P50,000

Date Account Title Debit Credit

(Dr.) (Cr.)
10/6/17 Cash 50, 000
Accounts Payable 50, 000
 On October 24, paid P5,000 for the rent of stall

Date Account Title Debit Credit

(Dr.) (Cr.)
10/24/17 Rent Expense 5, 000
Cash 5, 000
On October 25, rendered services to Mr. Lim for their fashion
show. Mr. Lim will pay next month amounting to P13, 000.

Date Account Title Debit Credit

(Dr.) (Cr.)
10/25/17 Accounts Receivable 13, 000
Service Income 13, 000
On October 28, Anti Piling withdrew P4, 500 for
personal use.

Date Account Title Debit Credit

(Dr.) (Cr.)
10/28/17 Piling, Withdrawal 4, 500
Cash 4, 500
ACTIVITY
TIME!

 CRITERIA EXCELLENT VERY SATISFACTORY SATISFACTORY NEEDS
(4) (3) (2) IMPROVEMENT
(1)

CONTENT The group scored The group committed The group The group
perfect in the 1-2 mistakes in the committed 3-5 committed more
activity. activity. mistakes in the than 5 mistakes
activity.

ORGANIZATION Well-organized Good organization and Somewhat Not organized at

and easy to follow fairly easy to follow organized but hard all and difficult to
to follow in places follow

TEAMWORK Working the whole Working most of the Working with 1-2 Needed more
time time reminders than two(2)
reminders to get
back on the
activity