Long Quiz
Long Quiz
Long Quiz
Rey Millora opened an account with Union Bank under Rey's Laundromat business name in the amount of
1-Dec P1,500,000. He also invested a computer worth P100,000 with a fair market value of P90,000.
Bought a P900,000 condominium for his office paying P500,000 down payment and signing a mortgage with
5 Metro Bank payable in 10 years for the balance.
Bought a P600,000 van from Jade Motors for use in the business. Terms: 25% cash, 40% thru a 30-day, 10% note,
12 and the balance on account.
Made an additional investment of P500,000 and equipment worth P60,000 with an unpaid balance of P10,000 to
13 Baguio Trading. The business will assume the liability.
15 Withdrew P75,000 cash and office supplies worth P500 for personal use.
Rendered laundry services on account to the following customers: Gabriel - P20,000; Michael - P10,000; Daniel -
19 P8,000; Uriel - P7,000.
Requirements:
1 Journalize the December transactions using a general journal and the
account titles given in the chart of accounts.
a mortgage with
balance of P10,000 to
el - P10,000; Daniel -
abriel - P5,000;
General Journal Page 1
Date Particulars f Dr Cr
Date Particulars f Dr Cr
General Journal Page 3
Date Particulars f Dr Cr
General Journal Page 4
Date Particulars f Dr Cr
GENERAL LEDGER
CASH 101
Date Particulars f Dr Date Particulars f Cr
EQUIPMENT 202
Date Particulars f Dr Date Particulars f Cr
VEHICLE 204
Date Particulars f Dr Date Particulars f Cr
CUSTOMER'S NAME:
Date Particulars f Dr Cr Balance
CUSTOMER'S NAME:
Date Particulars f Dr Cr Balance
CUSTOMER'S NAME:
Date Particulars f Dr Cr Balance
CUSTOMER'S NAME:
Date Particulars f Dr Cr Balance
SUPPLIER'S NAME:
Date Particulars f Dr Cr Balance
SUPPLIER'S NAME:
Date Particulars f Dr Cr Balance
SUPPLIER'S NAME:
Date Particulars f Dr Cr Balance
SUPPLIER'S NAME:
Date Particulars f Dr Cr Balance
Rey's Laundromat
TRIAL BALANCE
DECEMBER 31, 2012
Amounts in Philippine Peso
Dr Cr
Rey's Laundromat
ACCOUNTS RECEIVABLE SCHEDULE
December 31, 2015
Amounts in Philippine Peso
Rey's Laundromat
ACCOUNTS PAYABLE SCHEDULE
December 31, 2015
Amounts in Philippine Peso
Rey's Laundromat
Worksheet
DECEMBER 31, 2012
Amounts in Philippine Peso
Unadjusted Trial Balance Adjustments Adjusted Trial Balance
Dr Cr Dr Cr Dr
Statement of Financial
Adjusted Trial Balance Statement of Income Position
Cr Dr Cr Dr Cr
Rey's Laundromat
Statement of Income
For the month ended December 31, 2012
Amounts in Philippine Peso
Rey's Laundromat
Statement of Changes in Equity
For the month ended December 31, 2012
Amounts in Philippine Peso
Rey's Laundromat
Statement of Financial Position
December 31, 2012
Amounts in Philippine Peso
LIABILITIES AND EQUITY
Rey's Laundromat
Statement of Cash Flows
For the month ended December 31, 2012
Amounts in Philippine Peso
Rey's Laundromat
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2012
Amounts in Philippine Peso
Dr Cr