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    Worksheet 2 2nd Quarter

    Uploaded by

    Maria Angela
    The document provides a worksheet with the general journal entries for DJJ Strongco's business, Loisiopao, for its first month of operations in January 2016. It includes transactions for cash investments, inventory purchases, sales, expenses, and payments/collections. Students are asked to post the journal entries to the general ledger accounts and calculate the ending balances for various asset, liability, equity, revenue and expense accounts.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Worksheet 2 2nd Quarter

    Uploaded by

    Maria Angela
    173 views5 pages
    The document provides a worksheet with the general journal entries for DJJ Strongco's business, Loisiopao, for its first month of operations in January 2016. It includes transactions for cash investments, inventory purchases, sales, expenses, and payments/collections. Students are asked to post the journal entries to the general ledger accounts and calculate the ending balances for various asset, liability, equity, revenue and expense accounts.

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    The document provides a worksheet with the general journal entries for DJJ Strongco's business, Loisiopao, for its first month of operations in January 2016. It includes transactions for cash investments, inventory purchases, sales, expenses, and payments/collections. Students are asked to post the journal entries to the general ledger accounts and calculate the ending balances for various asset, liability, equity, revenue and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    173 views5 pages

    Worksheet 2 2nd Quarter

    Uploaded by

    Maria Angela
    The document provides a worksheet with the general journal entries for DJJ Strongco's business, Loisiopao, for its first month of operations in January 2016. It includes transactions for cash investments, inventory purchases, sales, expenses, and payments/collections. Students are asked to post the journal entries to the general ledger accounts and calculate the ending balances for various asset, liability, equity, revenue and expense accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 5

    IMMACULATE CONCEPTION ACADEMY OF MANILA

    HIGH SCHOOL DEPARTMENT


    FABM1 CURRICULUM
    School Year: 2021 - 2022

    CHAPTER 9: Books of Accounts

    WORKSHEET #2
    Individual Activity

    In January 2016, DJJ Strongco started his business of selling special siopaos known for its bigger-than-
    normal size called Loisiopao. During its first month, he journalized these transactions in the company’s
    in the company’s general journal.

    Using your knowledge of the general journal and ledger, post the foregoing transactions in the general
    ledger and determine the balances of the following at the end of the first month:
    Date Accounts Titles and Explanation Ref Debit Credit
    2016
    January 1 Cash 101 220,000
    DJJ, Capital 301 220,000
    Owner’s investment of cash in the business

    January 1 Inventory 121 130,000


    Accounts Payable 201 130,000
    Purchase of siopao from supplier on account

    January 2 Cash 101 15,000


    Sales 400 15,000
    Sale of siopao to customer through cash

    Cost of Goods Sold 500 25,000


    Inventory 121 25,000
    Sale of siopao to customer

    January 3 Accounts Receivable 111 30,000


    Sales 400 30,000
    Sale of siopao to customer on account

    Cost of Goods Sold 500 15,000


    Inventory 121 15,000
    Sale of siopao to customer

    January 10 Cash 101 10,000


    Accounts Receivable 111 10,000
    Collection of customer’s accounts receivable

    January 12 Accounts Payable 201 45,000


    Cash 101 45,000
    Payment of accounts payable to supplier

    January 15 Rent Expense 505 25,000


    Cash 101 25,000
    Payment of rent expense for the month
    January 18 Cash 101 35,000
    Accounts Receivable 121 35,000
    Sales 500 70,000
    Sale of siopao to customer on account with 50%
    downpayment

    Cost of Goods Sold 505 35,000


    Inventory 101 35,000
    Sale of siopao to customer

    January 20 Inventory 121 35,500


    Accounts Payable 201 5,500
    Cash 101 30,000
    Purchase of siopao; partly cash, partly on account

    January 31 Cash 101 15,000


    DJJ, Capital 301 15,000
    Owner’s investment of additional cash

     Cash
     Accounts Receivable
     Inventory
     Accounts Payable
     DJJ, Capital
     Sales
     Cost of Goods Sold
     Rent Expense

    CASH NO. 101


    Date Explanation Ref Debit Credit Balance
    2016

    ACCOUNTS RECEIVABLE NO. 111


    Date Explanation Ref Debit Credit Balance
    2016

    INVENTORY NO. 121


    Date Explanation Ref Debit Credit Balance
    2016

    ACCOUNTS PAYABLE NO. 201


    Date Explanation Ref Debit Credit Balance
    2016

    DJJ, CAPITAL NO. 301


    Date Explanation Ref Debit Credit Balance
    2016

    SALES NO. 400


    Date Explanation Ref Debit Credit Balance
    2016

    COST OF GOODS SOLD NO. 500


    Date Explanation Ref Debit Credit Balance
    2016
    RENT EXPENSE NO. 505
    Date Explanation Ref Debit Credit Balance
    2016

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