JOURNAL TRANSACTIONS

Deogracia Corpuz who operates a repair shop are expressed the transactions below:

DATE TRANSACTIONS
1-Oct Organized a repair shop and deposited 500,000 cash in the bank for use
by the business.
2-Oct Purchased 20,000 of supplies on account.
4-Oct Purchased land for future repair site for 140,000 cash.
5-Oct Paid 18,000 to creditors.
7-Oct Withdrew 25,000 for personal use.
8-Oct Paid 28,000 for site and equipment rent for the month.
9-Oct During the month, 10,000 expenses were incurred on account
by the business.
12-Oct During the month, Corpuz invested another 100,000 of personal funds
in the business.
13-Oct Received 5,000 for a cash service call.
14-Oct Corpuz used 6,000 worth of supplies.

1-Oct Dr. Cash 500,000

Cr. Capital 500,000

2-Oct Dr. Supplies 20,000

Cr. Account Payables 20,000

4-Oct Dr. Land 140,000

Cr. Cash 140,000

5-Oct Dr. Capital 18,000

Cr. Cash 18,000

7-Oct Dr. Withdrawals 25,000

Cr. Cash 25,000

8-Oct Dr. Rent Expenses 28,000

Cr. Cash 28,000

9-Oct Dr. Miscellaneous Expenses 10,000

Cr. Account Payables 10,000
 12-Oct Dr. Cash 100,000
Cr. Capital 100,000

13-Oct Dr. Cash 5,000

Cr. Income 5,000

14-Oct Dr. Supplies Expenses 6,000

Cr. Supplies 6,000

T – ACCOUNTS

Cash Supplies Land

1 500,000 (140,000) 3 2 20,000 (6,000) 14 4 140,000

12 100,000 (18,000) 5
13 5,000 (25,000) 7
(28,000) 8

Accounts Payable Capital Rent Expenses

20,000 2 5 (18,000) 500,000 1 8 28,000
10,000 9 100,000 12

Miscellaneous Expenses Supplies Expenses Income

9 10,000 14 6,000 5,000 13

Withdrawals
7 25,000
 TRIAL BALANCE

Debit Credit
Cash 394,000
Supplies 14,000
Land 140,000
Capital 582,000
Accounts Payable 30,000
Income 5,000
Withdrawal 25,000
Rent Expenses 28,000
M. Expenses 10,000
Supplies Expenses 6,000
Total: 617,000 617,000

Accounting 11
Faye Therese DV. Garlitos
11-Our Lady of Consolation