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    General Journal: Date Account Titles and Explanation Credit

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    Harriane Mae Gonzales
    The document contains journal entries and ledger accounts for various transactions from December 31, 2013 to January 31, 2014. It records cash receipts and payments, purchases of assets and expenses. A trial balance on January 30, 2014 shows total debits of PHP 201,000 equal to total credits. Key transactions include initial capital contribution, purchases of computer, furniture and other assets, and recognition of expenses for salaries, rent and utilities.

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    General Journal: Date Account Titles and Explanation Credit

    Uploaded by

    Harriane Mae Gonzales
    43 views4 pages
    The document contains journal entries and ledger accounts for various transactions from December 31, 2013 to January 31, 2014. It records cash receipts and payments, purchases of assets and expenses. A trial balance on January 30, 2014 shows total debits of PHP 201,000 equal to total credits. Key transactions include initial capital contribution, purchases of computer, furniture and other assets, and recognition of expenses for salaries, rent and utilities.

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    ABMFUN-Exam

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    The document contains journal entries and ledger accounts for various transactions from December 31, 2013 to January 31, 2014. It records cash receipts and payments, purchases of assets and expenses. A trial balance on January 30, 2014 shows total debits of PHP 201,000 equal to total credits. Key transactions include initial capital contribution, purchases of computer, furniture and other assets, and recognition of expenses for salaries, rent and utilities.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    43 views4 pages

    General Journal: Date Account Titles and Explanation Credit

    Uploaded by

    Harriane Mae Gonzales
    The document contains journal entries and ledger accounts for various transactions from December 31, 2013 to January 31, 2014. It records cash receipts and payments, purchases of assets and expenses. A trial balance on January 30, 2014 shows total debits of PHP 201,000 equal to total credits. Key transactions include initial capital contribution, purchases of computer, furniture and other assets, and recognition of expenses for salaries, rent and utilities.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    GENERAL JOURNAL Page: 1

    Date Account Titles and Explanation Ref Debit Credit


    2014
    31-Dec Cash ₱ 100,000
    Dr. Artales, Capital ₱ 100,000

    3-Jan Organization Expense 7,500


    Cash 7,500

    5-Jan Prepaid Insurance 10,000


    Cash 10,000

    10-Jan Computer 20,000


    Cash 20,000

    11-Jan Furniture and Fixture 15,000


    Accounts Payable 15,000

    15-Jan Cash 30,000


    Notes Payable 30,000

    17-Jan Cash 35,000


    Professional Fees 35,000

    20-Jan Accounts Receivable 21,000


    Professional Fees 21,000

    30-Jan Cash 21,000


    Accounts Receivable 21,000

    31-Jan Rent Expense 10,000


    Utilities Expense 2,500
    Salaries Expense 15,000
    Cash 27,500

    31-Jan Dr. Artales, Drawing 3,000


    Cash 3,000
    LEDGER
    Account: Cash Account No: 101
    Date Explanation Ref Debit Credit Balance
    2014
    31-Dec ₱10,000 ₱100,000
    3-Jan 7,500 92,500
    5-Jan 10,000 82,500
    10-Jan 20,000 62,500
    15-Jan 30,000 92,500
    17-Jan 35,000 127,500
    30-Jan 21,000 148,500
    31-Jan 27,500 121,000
    31-Jan 3,000 118,000

    Account: Accounts Receivable Account No: 111


    Date Explanation Ref Debit Credit Balance
    2014
    20-Jan ₱21,000 ₱21,000
    30-Jan 21,000 0

    Account: Prepaid Insurance Account No: 131


    Date Explanation Ref Debit Credit Balance
    2014
    5-Jan ₱10,000 ₱10,000

    Account: Furniture and Fixtures Account No: 145


    Date Explanation Ref Debit Credit Balance
    2014
    11-Jan
    ₱15,000 ₱15,000

    Account: Computers Account No: 150


    Date Explanation Ref Debit Credit Balance
    2014
    10-Jan ₱20,000 ₱20,000

    Account: Accounts Payable Account No: 201


    Date Explanation Ref Debit Credit Balance
    2014
    11-Jan ₱15,000 ₱15,000
    Account: Notes Payable Account No: 212
    Date Explanation Ref Debit Credit Balance
    2014
    15-Jan ₱30,000 ₱30,000

    Account: Dr. Artales, Capital Account No: 300


    Date Explanation Ref Debit Credit Balance
    2014
    1-Jan ₱100,000 ₱100,000

    Account: Dr. Artales, Drawing Account No: 301


    Date Explanation Ref Debit Credit Balance
    2020
    31-Jan ₱3,000 ₱3,000

    Account: Professional Fees Account No: 406


    Date Explanation Ref Debit Credit Balance
    2020
    17-Jan P35,000 ₱35,000
    20-Jan 21,000 P 56000

    Account: Salaries Expense Account No: 611


    Date Explanation Ref Debit Credit Balance
    2020
    31-Jan ₱15,000 ₱15,000

    Account: Rent Expense Account No: 615


    Date Explanation Ref Debit Credit Balance
    2020
    31-Jan ₱10,000 ₱10,000

    Account: Utilities Expense Account No: 621


    Date Explanation Ref Debit Credit Balance
    2020
    31-Jan ₱2,500 ₱2,500

    Account: Organization Expense Account No: 625


    Date Explanation Ref Debit Credit Balance
    2020
    3-Jan ₱7,500 ₱7,500
    TRIAL BALANCE
    JANUARY 30, 2014

    Cash ₱118,000
    Accounts Receivable 0
    Prepaid Insurance 10,000
    Furniture and Fixture 15,000
    Computers 20,000
    Accounts Payable ₱15,000
    Notes Payable 30,000
    Dr. Artales, Capital 100,000
    Dr. Artales, Drawing 3,000
    Professional Fees 56,000
    Salaries Expense 15,000
    Rent Expense 10,000
    Utilities Expense 2,500
    Organization Expense 7,500
    ₱201,000 ₱201,000

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