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Ms. Monteroso, the owner invested Php. Cash Capital
1 100,000 in the business. 100,000 100,000
She also contributed equipment worth Php. Equipment Capital
2 50,000
50,000. 50,000
Rent
Rent on building was paid for the month Cash Php
3 Expense
Php 2,000 2,000
Php 2,000
Accounts Office
Purcahse office supplies for Php 850 on
4 Payable Supplies
account
Php 850 Php 850
Accounts Service
Rendered services to customers totaling Php Receivable
5 Income
8,400
Php 8,400 Php 8,400
Notes
Purchase equipment for Php 25,000. A Expense
Equipmen Payable
6 down payment of Php 10,000 was made, Php
t 25,000 Php
and signing a note Payable for the balance 10,000
15,000
Accounts
Collected Php 3,400 from customer for Cash
7 Receivable
services rendered in (7) 8,400
Php 8,400
Accounts
Paid the Php 850 owed for the purchasedof Cash Php
10 Payable
office supplies in (4) 850 Php 850
The owner withdrew Php 3,000 for personal Cash Php Drawing
12
use 3,000 Php 3,000
Loan
Cash Php
14 Borrowed cash from a local bank Php 5,000 Payable
5,000
Php 5,000
Income
Cash Php
15 Paid income taxes, Php 15,000 Tax Php
15,000
15,000
Capital
Owner invested cash to business, Php Cash Php
16 Php
50,000 50,000
50,000
Loan
Paid the bank for the borrowed money, Php Cash Php
17 Payable
5,000 in (14) 5,000 Php 5,000
Utilities
Cash Php
18 Received water bill for the month, Php 400 Expense
400 Php 400
Service
Rendered professional service in cash Php Cash Php
20 Income
9,000 9,000
Php 9,000
Equipmen Accounts
Purchase office equipment on account Php
21 t Php Payable
1,000
1,000 Php 1,000
Accounts
Inventory
22 Acquired goods on account Php 5,000 Payable
Php 5,000
Php 5,000
Rental
Paid rental expense for the month, Php Cash Php
23 Expense
2,500 2,500
Php 2,500
Utilities
24 Paid the electric bill for the month Php Cash Php Expense
1,200 1,200
Php 1,200
Accounts Service
25 Rendered services to customers totaling Php Receivable Income
15,000 Php Php
15,000 15,000
Service
26 Rendered service in cash Php 30,000 Cash Php Income
30,000 Php
30,000
Withdrew Php 3,000 cash for her personal Cash Php Capital
27
use. 3,000 Php 3,000
Equipmen Account
Bought a washing machine on account Php
28 t Php Payable
6,000
6,000 Php 6,000
Service
Received Php 900 cash for services Cash Php
29 Income
provided. 9,000
Php 900
Accounts Service
Receivable Revenue
30 Provides Php 100,800 services on credit.
Php Php
100,800 100,800
Accounts
Collected Php 15,000 from customer for Cash Receivable
31
services rendered in (25) 15,000 Php
15,000
Capital
Invested Php 28,000 cash by making a Cash Php
32 Php
deposit in a bank for the business. 28,000 28,000
Inventorie
Purchased inventories amounting to Php Cash Php
33 s Php
20,000 pesos cash. 20,000
20,000
Cash Drawing
34 Withdew Php 90,000 cash for personal use.
90,000 90,000
Loan
35 Borrowed money from a bank as a loan Php Cash Php Payable
20,000. 20,000 Php
20,000
Accounts
36 The company purchased Php 9,000 of Supplies Payable
additional supplies on credit. Php 9,000
Php 9,000
Loan
Made partial payment to the borrowed Cash Php Payable
38
money from the bank in (35), Php 10,000 10,000 Php
10,000
Adevertisi
Incurred advertising expense amounting to Notes ng
39 Php 560. Promised to pay the amount Payable
Expense
within 15 days Php 560
Php 560
Salaries
Paid Employees' salaries for th month Php Cash Php
40 Expense
8,600 8,600
Php 8,600
Notes
Bought a land and building for Php 450,000. Land and Capital
41 A down payment of 60% and give a note for Building Payable Php
Php
the remaining balance 450,000 270,000
180,000
Accounts Service
Performed service for clients on account
42 Receivable Income
Php 8,500.
Php 8,500 8,500
Inventorie
Cash Php
43 Purchased goods on cash Php 3,300. s Php
3,300 3, 300
Notes
Cash Php
45 Paid the advetsing expense incurred in (39) Payable
560
Php 560
Note
Received a promissory note for services Receivabl Revenue
50
rendered Php 9,000. Php 9, , 9,000
000
Account
Supplies
52 Purchased supplies on credit Php 3,300. Payable
3,300 3,300
Account
Equipmen
53 Acquired equipment on account Php 7,000. Payable
t 7,000 7,000
Inventorie
54 Bought on cash goods Php 300,000 and s 300,000 Cash
equipment at Php 350,000. Equipmen 650,00
t 350,000
Account
Inventorie
55 Bought inventories on account Php 1,000. Payable
s 1,000
1,000
Accrued
Received electric bill worth Php 6,250 for Utilities
Expense
58 the month's electric consumption, payable Expense
Payable
next month. 6,250
6,250
Salaries
Cash
59 Paid cash for employee's salaries Php 9,950. 9,950 Expense
9,950
Cash
Sold Php 65,000 worth of soap. Half of this 32,500 Cost of
was paid in cash and the other was to be Accounts Inventorie Sales Goods
60
paid in 15 days. The cost of the soap sold is s 60,000 65,000 Sold
Receivable
Php 60,000. 60,000
32,500
Taxes and
61 Paid taxes and licenses Php 70,000. Cash Licenses
70,000
70,000
Accounts
Paid the vehicle acquired on account Php Cash
62 Payable
200,000. 200,000 200,000
Account
Cash
63 Paid accounts incurred on (55) Payable
1,000
1,000
Loan
Cash
64 Borrowed funds from a lender Php250,000. Payable
250,000
250,000
Interest
Received interest from its deposit in the Cash
65 bank Php 40,000. 40,000 Income
40,000
Account
Bought inventories , Php 100,000. Ten Inventorie Cash
66 Payable
percent on cash and the rest on account. s 100,000 10,000
90,000
Account
Paid Tacloban supply Php 90,000 of the Cash
67 amount owed. 90,000 Payable
90,000
Account Service
Performed services for a car dealer and
68 Receivable Income
collected fees on account of Php 70,500.
70,500 70,500
Account
Purchased new equipment for the business Equipmen
69 Payable
on credit Php 60,000. t 60,000
60,000
Account
Paid the equipment acquired on account Cash
70 Payable
(53) 7,000
7,000
Salaries
Paid salaries for part-time assistant Php Cash
72 Expense
1,500. 1,500
1,500
Rent
Cash
73 Paid rent for the month Php 2,500. Expense
2,500 2,500
Account
Bought office table on account Php Equipmen
74 Payable
4,500. t 4,500
4,500
Account
75 Partial payment on account Php 300. Cash 300 Payable
300
Withdrew inventories for personal use Php Inventory Drawing
76
80,500. 80,500 80,500
Invested cash to the business by depositing Cash Capital
77
in a bank Php 500,500. 500,500 500,500
Made an initial cash investment Php Cash Capital
78 100,100. 100,100 100,100
Received cash from her business Php Cash Drawing
79
75,000. 75,000 75,000
Purchased inventories from a supplier on Inventorie Cash
80
cash Php 67,000. s 67,000 67,000
Accrued
Paid previously recorded expenses Php Cash Expense
81
48,000. 48,000 Payable
48,000
Rent
An amount of Php 36,000 was paid as Cash
82 Expense
advance rent for 3 months. 36,000 36,000
Note
Paid the bank that lend money to the Cash
84 Payable
company Php 86,000. 86,000
86,000
Account
Buy a new automobile for the company Equipmen
85 Payable
worth Php 28,000 on credit. t 28,000 28,000
Account
Paid equipment purchased on account Php Cash
86 Payable
32,000. 32,000
32,000
Cash
Invested Php 20,000 cash and Php 30,000 20,000 Capital
87
supplies in the entity. Supplies 50,000
30,000
Note
A note was issued to Landbank Php Cash
90 23,000. 23,000 Payable
23,000
Supplies Cash
91 Incurred office supplies Php 42,000.
42,000 42,000
Machineri
Bought new machines and equipment Account
Php Equipmen
Cash es and
92 amounting to Php 120,000, paid Payable
t 120,000 60,000 Equipmen
60,000 and other was to be paid in 15 days. 60,000
t 120,000
Cost of
Sold goods at Php 250,000 on cash. Gross Cash Inventorie Sales Goods
93
profit from sales was Php 50,000. 250,000 s 200,000 250,000 Sold
200,00
Purchased furniture amounting to Php Account
50,000. Made partial payment with cash Equipmen Cash
94 Payable
Php 20,000 and incurred an accounts t 50,000 20,000
30,000
payable for th balance Php 30,000.
Prepaid
Paid prepaid insurance for 1 year Php Cash
95 Insurance
24,000. 24,000 24,000
Cash
Made sales of Php 48,000 - Php 15,000 cash 15,000 Sale
98 Accounts
sales. Php 33,000 credit sales. 48,000
Receivable
33,000
Accounts
Collected Php 13,000 out of Php 33,000 Cash Php Receivable
99
credit sales (98) 13,000 Php
13,000
Accounts
100 Collected Php 20,000 fro the remaing Cash Php Receivable
balance in (98) 20,000 Php
20,000
Rent
Received rent from tenant of a rented out Cash
102 Income
unoccupied store Php 16,000. 16,000
16,000
Account
Acquires inventory on account Php Inventory
103 Payable
62,000. 62,000 62,000
Invested an additional cash for business Cash Capital
104
worth Php 17,000. 17,000 17,000
Accounts
Income
105 Sells goods for Php 43,000 on credit. Receivable
43,000 43,000
Utilities
Paid electricity and water bill on account Cash
107 Expense
Php 37,000. 37,000
37,000
Withdrew some amount of Php 18,000 from Cash Drawing
108 the bank deposit Php 36,000. 18,000 18,000
The owner invested Php 500,000 in the Cash Capital
109
business. 500,000 500,000
Rent
111 Rent on the building was paid for the month
Cash
Expense
Php 4,000. 4,000
4,000
Account
Purchased office supplies for Php 1,700 on Supplies
112 Payable
account. 1,700
1,700
Service
115 Provide services to customer and received Cash Php Revenue
Php 50,000 in cash 50,000 Php
50,000
Salaries
Paid employee's salaries for the month Php Cash
118 9,999. 9,999 Expense
9,999
Accounts
Paid the Php 1,700 owed for the purchased Cash
119 Payable
of office supplies on 05/08/19. 1,700
1,700
Accounts
Paid the advertising expense incurred on
120 Cash 250 Payable
(117)
250
121 The owner withdrew Php 6,560 for personal Cash Drawing
use. 6,560 6,560
Note
Service
125 Received a note Php 38,500 for graphic Receivable Revenue
services rendered. Php
38,500
38,500
Cash Expense
126 Paid office equipment in account (21)
1,500 1,500
Cash Expense
127 Paid goods in account (22)
5,000 5,000
Cash Expense
128 Paid washing machine in account (28)
6,000 6,000
Cash Expense
129 Paid rendered service in account (30) 100,800 100,800
Cash Expense
130 Paid services for clients in accounts (42)
8,500 8,500
Cash Expense
131 Paid supplies on account in (52).
3,300 3,300
Cash Expense
132 Paid equipment on account (53).
7,000 7,000
Cash Expense
133 Paid inventories in account (55).
1,000 1,000
Cash Accounts
135 Paid the rest of inventories in account (66). Payable
10,000 90,000
Accounts Service
Provide services to clients on account worth Receivable Income
136
Php 300,000; to be paid after a month. Php Php
300,00 300,000
Paid equipment for the business in account Cash Expense
137
(69) 60,000 60,000
Cash Expense
138 Paid office table in account (74).
4,500 4,500
Office
139 Paid for repair of office equipment, Php Cash Php Equip.
5,000 5,000 Repair Pp
5,000
Taxes and
Cash Php
140 Paid for annual BIR registration of Php 1,000 1,000 License
Php 1,000
Cash Php
150,000 Service
The total income for the day amounted to Accounts Revenue
141
Php 150,000 in cash and Php25,000 in credit Receivable Php
Php 175,000
25,000
Advertisin
Brochures to advertise the business range Cash Php
143 g Expense
costing Php 3,000 were paid in cash 3,000
Php 3,000
Unearned Service
Performed services worth 50,000, for Revenue Income
144
customer who paid in advance. Php Php
50,000 50,000
Rendered services to a big corporation Cash Php
90,000 Service
amounting 150,000. As per agreement, the
Notes Revenue
145 40% of the amount due will be collected
Receivable Php
after 30 days while the 60% was paid in
Php 150,000
cash.
60,000
Furnitures
the company acquired tables, chairs, and
Cash Php
146 shelves, and other fixtures for a total of Php Fixtures
15,000
15,000. The entire amount was paid in cash. Php
15,000
Unearned
Received Php 15,000 as an advance Cash Php Revenue
149 payment from the customer. 15,000 Php
15,000
Unearned Service
Give services to the customer who gives Revenue Revenue
150
advance payment in (150) Php Php
15,000 15,000
Service
151 Received Php 6,000 in cash for services Cash Php Revenue
rendered to customers 6,000
Php 6,000
Cash Php
Php 300,000 worth services were given to 200,000
Service
customer. Received cash amount of Php Accounts
152 Revenue
200,000. Cutomer Promised to pay Receivable
300,000
remaining amount of Php 100,000. Php
100,000
Utilities
153 Phone bill received totaling Php 500 Cash Php Expense
500
Php 500
Office Accounts
Office supplies were purchased on account
154 Supplies Payable
totaling Php 3,500
Php 3,500 Php 3,500
Service
Service were provided to customers, and Cash Php
156 Revenue
the business receives Php 9,000 in cash. 9,000
Php 9,000
Accounts
159 Supplies were purchased on account Supplies Payable
totaling Php 5,000. Php 5,000
Php 5,000
Salaries
and
Employee's were paid wages for 15 days Cash Php
160 Wages
totaling Php 10,000 10,000
Php
10,000
Cash Php
Service provided to customers totaling Php 21,600 Service
36,000. Customers paid 60% only with a Notes Revenue
161
promise to pay the remaining balance in the Receivable Php
future. Php 36,000
14,400
Office Accounts
Office Supplies were purchased on account
162 Supplies Payable
totaling Php 300. Php 300 Php 300
Unearned
Customer paid Php 65,000 in advance for Cash Php Revenue
165 services to be received 65,000 Php
65,000
Notes
Customer paid the remaining 25% balance Cash Php Receivable
166
in service rendered in (161). 3,600
3,600
Employee's were paid wages for 15 days
167
totaling Php 10,000
Salaries
and
Cash Php
168 Electric bill was received totaling Php 5,000. Wages
10,000
Php
10,000
utilities
169 Water bill was received totaling Php 3,000 Cash Php Expense
3,000
Php 3,000
Miscellane
ous
Miscellaneous Expense for the month were Cash Php
170 Expense
totaled at Php 10,500 10,500
Php
10,500
Accounts
Supplies
Supplies were purchased on account Payable
171 Php
totaling Php 10,000. Php
10,000 10,000
Service
Service were provided to customer, and the Cash Php Revenue
172
company received Php 75,000 in cash. 75,000 Php
75,000
Capital
Cash Php
173 Owner withdrew Php 25,000 Php
25,000 25,000
Accounts Service
Earned service renvenue on account Php
174 Receivable Recenue
9,800
Php 9,800 Php 9,800
Service
Company receives cash from clients for Cash Php
175 Recenue
service Php 4,000 4,000
Php 4,000
Accounts
176 Collected the accounts receivable for Cash Php Receivable
transaction (174). 9,800
Php 9,800
Cash Php
Service was given to a big company worth 140,000 Service
Php 350,000. The agreement says that 60% Accounts Revenue
179
will be paid after 15 days; the 40% was in Receivable Php
cash. Php 350,000
210,000
Accounts
Received a partial payment for the service Cash Php Receivable
180 rendered in 136; the remaining 40% will be 180,000
Php
paid after a week. 180,000
181
182
183
184
185
186
Accounts
187 Received the remaining balance in 136. Cash Php Receivable
120,000
120,000
Accounts
Cash Php
188 Settled the accounts payable in (177) Payable
24,000 24,000
189
190
Accounts
191 Paid the account in (178). Cash Php Payable
4,500
Php 4,500
Accounts
Cash Php Receivable
192 Collected accounts receivable in (179)
210,000 Php
210,000
193
194
195
196
197
198
199
200