EXERCISE/ ACTIVITIES 1.1 - Yung Dora Catan: Transactions Debit Credit A B C D e F G H I J

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EXERCISE/ ACTIVITIES 1.

1 – Yung Dora Catan


Transactions Debit Credit

a EQUIPMENT CASH&NOTES PAYABLE

b OPERATING CASH
EXPENSE
c CASH SERVICE REVENUE

d CASH ACCOUNTS RECIEVABLE

e ACCOUNTS SERVICE REVENUE


RECIEVABLE
f OPERATING CASH
EXPENSES
g OPERATING CASH
EXPENSE
h OPERATING ACCOUNTS PAYABLE
EXPENSES
i SUPPLIES CASH

j OPERATING SUPPLIES
EXPENSE

EXERCISE/ ACTIVITIES 2.1 –


Yung Prepare Chart Account and Journal Entries
Tanes Data Encoders
Chart of Accounts

ASSETS
110 Cash
120 Accounts Receivable
130 Supplies
140 Office Equipment
150 Computer Software
160 Signage

LIABILITIES
210 Accounts Payable

OWNER’S EQUITY
310 Tanes, Capital
320 Tanes, Withdrawals

INCOME
410 Service Revenues

EXPENSES
510 Salaries Expense
520 Advertising Expense
530 Rent Expense
540 Utilities Expense
550 Miscellaneous Expense
JOURNAL ENTRY FOR TANES DATA ENCODERS
GENERAL JOURNAL
DATE ACCOUNT TITLES AND EXPLANAION P.R. DEBIT CREDIT
JUNE 5 Cash 110 257,000
Tanes, Capital 310 257,000
To record initial investment
JUNE 3 Office Equipment 140 17,150
Cash 110 17,150
To record acquisition of office desks and filling cabinet
JUNE 4 Office Equipment 140 59,500
Tanes, Capital 310 59,500
To record the investment of personal computer
JUNE 5 Computer Software 150 41,000
Cash 110 17,000
Accounts Payable 210 24,000
To record acquisition of computer software to San Rio
Computer Center
JUNE 6 Rent Expense 530 7,300
Cash 110 7,300
To record rental payment for the month
JUNE 10 Cash 110 7,160
Service Revenues 410 7,160
To record revenues for services rendered
JUNE 11 Signage 160 11,000
Cash 110 7,000
Accounts Payable 210 4,000
To record acquisition of panicle to Highness Whiteness
Enterprises
JUNE 15 Advertising Expense 520 5,230
Accounts Payable 210 5,230
To record receiving bill from Strong Voice News Paper for
the advertisement
JUNE 18 Supplies 130 4,290
Cash 110 4,290
To record acquisition of print paper and stationery
JUNE 20 Utilities Expense 540 2,240
Cash 110 2,240
To record electricity payment
JUNE 21 Accounts Payable 210 5,230
Cash 110 5,230
To record payment to Strong Voice News Paper for the
advertisement
JUNE 23 Cash 110 12,900
Service Revenues 410 12,900
To record revenues for services rendered
JUNE 25 Salaries Expense 510 10,400
Cash 110 10,400
To record salary payment to employees
JUNE 30 Tanes, Withdrawals 320 6,500
Cash 110 6,500
To record personal withdrawal of owner

EXERCISE/ ACTIVITIES 1.1


EXERCISE/ ACTIVITIES 2.1 – Yung Kimidora Estan
Estan Clinic
Chart of Accounts

ASSETS
110 Cash
120 Accounts Receivable
130 Office Equipment
140 Office Furniture

LIABILITIES
210 Accounts Payable

OWNER’S EQUITY
310 Estan, Capital
320 Estan, Withdrawals

INCOME
410 Professional Fees

EXPENSES
510 Salaries Expense
520 Rent Expense
530 Utilities Expense
540 Miscellaneous Expense

LEDGER ACCOUNTS/T-ACCOUNTS

Account: Cash Account No. 110


Date Explanation J.R. Debit Credit Balance
“…occurred during the
year”
a. (No specific dates Initial Investment J-1 480,000 480,000
b. indicated) Initial Payment to P. Esteban Equipment J-1 3,000 477,000
c. Acquisition of chairs and table J-1 14,300 462,700
e. Payment for telecom bill J-1 3,080 459, 620
g. Payment for electricity bill J-1 3,850 455,770
h. Payment for the Regional Pediatric Convention J-1 5,500 450,270
i. Fees from professional service rendered J-1 19,650 469,920
j. Partial Payment to Caloocan Office Supply J-1 2,000 467,920
k. Rental Payment J-1 10,400 457,520
l. Paid Salaries of part-time receptionist J-1 5,500 452,020
m Withdrawal of cash for personal use J-1 10,500 441,520
.
n. Payment from patients who were previously billed J-1 7,500 449,020
BALANCE: = 449,020

Accounts: Accounts Receivable Account No. 120


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
f. (No specific dates indicated) Performed professional services on account J-1 14,300 14,300
n. Payment from patients who were previously billed J-1 7,500 6,800
BALANCE = 6,800

Accounts: Office Equipment Account No. 130


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
b. (No specific dates indicated) Acquisition of 3-in-1 office equipment J-1 6,950 6,950
from P. Esteban Equipment
d. Acquisition of office intercom from J-1 4,750 11,700
Caloocan Office Supply
BALANCE = 11,700

Accounts: Office Furnitures Account No. 140


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
c. (No specific dates indicated) Acquisition of chairs and table J-1 14,300 14,300
BALANCE = 14,300

Accounts: Accounts Payable Account No. 210


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
b (No specific dates indicated) Payable Balance to P. Esteban Equipment J-1 3,950 3,950
.
d Acquisition of office intercom from J-1 4,750 8,700
. Caloocan Office Supply
j. Partial Payment to Caloocan Office Supply J-1 2,000 6,700
BALANCE = 6,700
Accounts: Estan, Capital Account No. 310
Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
a. (No specific dates indicated) Initial Investment J-1 480,000 480,000
BALANCE = 480,000

Accounts: Estan, Withdrawals Account No. 320


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
m (No specific dates indicated) Withdrawal of cash for personal use J-1 10,500 10,500
.
BALANCE = 10,500

Account: Professional Fees Account No. 410


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
i. (No specific dates indicated) Fees from professional service rendered J-1 19,650 19,650
BALANCE = 19,650

Accounts: Salaries Expense Account No. 510


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
l. (No specific dates indicated) Paid Salaries of part-time receptionist J-1 5,500 5,500
BALANCE = 5,500

Accounts: Rent Expense Account No. 520


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
k. (No specific dates indicated) Rental Payment J-1 10,400 10,400`
BALANCE = 10,400

Accounts: Utilities Expense Account No. 530


Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
e. (No specific dates indicated) Payment for telecom bill J-1 3,080 3,080
g. Payment for electricity bill J-1 3,850 6,930
BALANCE = 6,930
Accounts: Miscellaneous Expense Account No. 540
Date Explanation J.R. Debit Credit Balance
“…occurred during the year”
h. (No specific dates indicated) Payment for the Regional Pediatric Convention J-1 5,500 5,500
BALANCE = 5,500

EXERCISE/ACTIVITIES 1.1 – Yung for each of the following independent events...


EVENT ACCOUNT DEBITED ACCOUNT CREDITED
a Cash Rey Fernan Refozar, Capital
b Accounts Recievable Service Revenue
c Supplies Accounts Payable
d Rent Expense Cash
e Accounts Payable Cash
f Operating Expense Cash
g Cash Service Revenue
h Cash Accounts Receivable
i Rey Fernan Refozar, Withdrawal Cash
j Cash Unearned Revenue
k Salaries Expense Cash

EXERCISE/ACTIVITIES 2.1 – Yung analyze each transaction…


DEBIT CREDIT
a 7 1
b 2 10
c 11 1
d 3 7
e 1 10
f 5 7
g 12 7
h 7 5
i 1 2
j 7 1
k 2 10
l 12 1
m 9 1

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