problem #10 journalizing Transactions The chart of accounts for Juanita Pineda Delivery Service is as follows: Assets | Income 110 Cash 410 Delivery Revenues 120 Accounts Receivable Expenses 130 Prepaid Insurance 510 Salaries Expense 140 Service Vehicle: 520. Gasand OilExpense , 150 Office Equipment : 530° Repair Expense : Liabilities -- 540. Advertising Expense 210 Accounts Payable 550: Supplies Expense Owner's Equity 590 Miscellaneous Expense 310 Pineda, Capital 320 Pineda, Withdrawals The company completed the following transactions in May 2010: May 3 6 15 17 22 26 29 30 31 31 ai Required: Placed four week-end advertisements in the Sun Daily Caloocan for P18,500; the amount is due.in 30 days. EY Bought supplies on account from Supplies, Inc., P8,800. Juanita Pineda invested in the business own office equipment with a fair market value of P52,500. Received P61,800 from alee, customers to apply on their accounts. Received a bill from Park Trucking for repair services performed, P8,500. Paid Supplies, Inc., P8,800 in full payment of account. Paid salaries to employees, P21,000.. Received P39,000 for services performed. Received and paid gasoline and oil bill relating to the service vehicle, P12,500. : Billed South China Bank for services performed, P45,000. Pineda withdrew cash for personal use, P14,500. Prepare the journal entries for the May transactions.Problem #11 Journalizi The chart of accounts for Peter Tt PROFESSOR: a ing Transactions ulio Landscaping is as follows: Assets Income 10 Cash 410 Landscaping Revenues Expenses 120 Accounts Receivable 130 Prepaid Insurance 140 Equipment 150 Service Vehicle 210 Accounts Payable 510 _ Salaries Expense 520 Gas and Oil Expense 530 Rent Expense’ 540- Utilities Expense < 550 Supplies Expense 560 Miscellaneous Expense Liabilities Owner's Equity 310 Tulio, Capital 320 Tulio, Withdrawals The company completed the following transactions in July 2010: = July 2 a 9 12 15 20 21 23 31 31 31 Paid rent for the month, P10,000. Received cash on account from Crown Peak Condos, P21,800. Bought equipment on account from Bay Equipment, P61,000. Received and paid telephone bill, P2,500. Billed City Hall for services performed, P35,000: Paid cash for liability insurance (six months), P16,000. Tulio invested in the business a personal equipment having a fair market value of P49,500. Paid P20,000 on account to Bay Equipment. Paid salaries to part-time employees, P14,800.. Received cash for services performed, P72,300. Tulio withdrew cash for personal use, P21,500. Required: - Prepare the journal entries for the July Pransaction(ME: : el — ‘TScorE: PROFESSOR: Ta problem #12 Journalizing Transactions Joanne Java Review School entered into the following transactions during October 2010: Oct. 1 Java made additional investments of P50,000 in the business. 2 Bought liability insurance for one year, P14,500. ' 3 Received bill for advertising from SouthMin News, P3,200. 4 Paid rent for the month, P8,900. “0 7 Received a bill for equipment repair from E. Hipolito, P2,880. 10 Received and deposited tuition from students, P62,500. 11 Received and paid the telephone bill, P2;300. 15 Bought chairs from EL Awayan Furniture Company, P18,800, paying P8,800 in cash and the balance on account. 18 Paid accounts'to SouthMin News, P3,200. 21 Java withdrew P8,000 for personal use. 24 Received a bill for gas and oil from Mindanao Oil Company, P1,800. 25 Received and deposited tuition from'students, P61,400. 27 Paid salaries of the office assistants, P12,000. 28 Bought a photocopier on account from Dadiangas Office Machines, P7,500. “ . 29 Received P7,000 tuition from a student who had charged the tuition on account last month. 30 Received and paid the water utilities bill, P3,600. 31 Paid for flower arrangements for front office, P620. 31 Java invested personal computer, with a fair market value of P12,300, in the business. Required: Prepare the journal entries for the October transactions. Use the following accounts: Cash; Accounts Receivable; Prepaid Insurance; Equipment; Furniture; Accounts Payable; Withdrawals; School Fees; Salaries Expense; Rent Expense; Gas and Java, Capital; Java, 5 Utilities Expense; Oil Expense; Advertising Expense; Repair Expense; Supplies Expense; Telecommunications Expense and Miscellaneous Expense.PROFESSOR: problem #13 , Journalizing Transactions Evangeline Jamili Landscaping Service has the following completed transactions; vant Mar. 1. Jamili deposited P200,000 in a bank account in the name of the business. , 4 Jamili invested personal gardenin, value of P10,000, in the business. : 6 Bought a used trailer, on account from Sala Sales, P8,500. Paid rent for the month, P6,000. . 9 Bought a used backhoe from Mobile Equipment, P62,000, paying P30,000 in cash and the balance on account. 10 Bought liability insurance for one year, P9,000. 13 Performed landscaping services on account for Tindoy Company, P34,200. m ey 14 Bought supplies on account from Office Decor, P2,400. 15 Performed landscaping services on account for Urios University, P25,600., 17 Received and paid the bill from De Leon Services for gas and oil for the equipment, P1,400. 19 Performed landscaping services for Calimpusan on cash basis, P18,800. - ‘ 22 Paid accounts to Sala Sales, P4,000. 24 Collected accounts from Tindoy Company, P7,000. 28 Performed landscaping services on account for Gucela Company, P16,250. i peer te Smee ries of the employees, P13,400. rew cash for personal use, P14,000. g equipment, with a fair market ~ Required: Prepare j ‘ j ah ue poe for the March transactions. Use. the following accounts Capital; Jamili, Withdrawals, eae Insurance; Equipment; Accounts Payable; Jamil, Gas and Oil Expense; Sunnis on eins Revenues; Salaries Expense; Rent Experst ’ Supplies Expense; Utilities Expense and Miscellaneoys Expense.ET Scone: : [SECTOR she [ PROFESSOR: . problem #14 preparing a Trial Balance The accounts of Aristotle Go ee Agency follow with their normal balances as at Dec. 31, 2010: Accounts Balances Go, Capital . 254,700 Insurance Expense * 9,600 Accounts Payable 26,400 Service Revenues 258,000 land . 87,000 Cash ‘ 21,000 Salaries Expense 75,000 Building 375,000 ' Equipment Rentals Expense 15,000: Go, Withdrawals 18,000 Utilities Expense 5 30,000 *.: Accounts Receivable 28,500 Notes Payable 135,000: > Supplies Expense 15,000. Required: Prepare a trial balance.SCORE: [ NAME: PROFESSOR: ae SECTION: Problem #15 Preparing a Trial Balance The ledger of Daria Tolentino Advertising and Publicity contained the following accouy balances as at Oct. 31, 2010: can P160,000 Accounts Receivable ’ 426,000 Prepaid Insurance 36,000 Equipment : 524,000 Accounts Payable 245,000 » Tolentino, Capital . 765,000 Tolentino, Withdrawals 562,000 Advertising Revenues 964,000 Public Relations Revenues 425,000. Salaries Expense 520,000 Rent Expense 90,000 Supplies Expense 40,000 Utilities Expense ) 24,000 Miscellaneous Expense 17,000 Required: Prepare a trial balance.NAME: “SECTION: [ score: = [ PROFESSOR: problem #16 journalizing, Posting and Preparing a Trial Balance 1 a qj , qrspina Cayna Guardians completed the following transactions during October 2010: Cayna tran: oct. 1 ead en pened a ae pearl account to an account to 3 Cayna invested in the business per, market value of P34,000, 4 Bought communicati i eats, aoa equipment on account from Pesa 5 Paid rent for the month, P7,650. 6 Bought a used service vehicle car for P93,000, paying P45,000 down, with the balance due in thirty days. 9 : Received invoice and paid insurance premium to Cacawa Fidelity Company for bonding employees, P7,710. 12 Performed security services for Loreta Galleries. Billed Loreta for services rendered, P8,250. 16 Received bill from Marcos Printers for office stationery, P1,757. 17 Billed Pascua Construction for services rendered, P14,790. 22 Paid Regal,Shell Service for gasoline for service vehicle, P720. 24 Performed security services at a fashion jewelry fair. Billed organizers for services rendered, P17,500. 27 Paid Pesa Electronics P4,500 to apply on an account. 29 Received P8,250 from Loreta Galleries in full payment of account. 30 Billed Merchant Bank for services rendered, P21,600. 31 Received and paid telephone bill, P1,030. 31 Paid salaries to employees, P31,500. 31 Cayna withdrew cash for personal use, P18,000. Personal weapons having a fair Required: 1. Prepare the journal entries for the October transactions. 2. Set up the following ledger accounts and post all the journal entries: Cash; Accounts Receivable; Prepaid Insurance; “Arms and Communications Equipment; Saree Vehicle; Accounts Payable; Cayna, Capital; Cayna, Withdrawals; Service Revenues; Salaries Expense; Rent Expense; Supplies Expense; Gasoline Expense and: Utilities Expense. 3. Prepare a trial balance.PROFESSOR: ; problem #17 Journallzing, posting and Preparing 2 Trial Balance During the month of April, she complet Nanette Virtudazo is @ painting contractor. the following transactions: Invested in the business painting equipment valued at P12,300 and placed P71,000 ina business checking account. 3 Acquired a service vehicle costing P80,000. Paid P50,000 cash and signed a note for the balance. Purchased painting supplies on account for P3,200. Completed a painting job and billed the customer, P4,800. Received P1,500 cash for painting an apartment room. 10 Purchased painting supplies for P1,600 cash: 11 Received a P4,800 check from the customer billed on April 5. 12 Paid P4,000 for an insurance policy fora one-year. coverage. 13 Billed a customer P6,200 for a painting job. 14 Paid the assistant P1,500 for twenty-five hours' work. 1s Paid P400 for a tune-up of the service vehicle. 18 Paid for the painting supplies purchased on April 4. 20 Purchased a new ladder for P6,000 and painting supplies for P2,900; on account. 22 Received a telephone bill for P600, due next month. 23 Received P3,300 in cash from the customer billed on April 13. 24 Transferred P3,000 to a personal checking account. : 25 Received P3,600 in cash for painting a two-room apartment. | 27 Paid P2,000 on the note signed for the service vehicle. 29 Paid the assistant P1,800 for thirty hours' work. Apr. 2 Nues Required: 1. Prepare the journal entries to record the April transactions, 2a ae the following ledger accounts and post all the journal entries: ‘Cash; ours perce! Painting Supplies; Prepaid Insurance; Painting Equipment, ehicle; Notes Payable; Accounts. Payable; Virtudazo, Capital; Virtudazo, ‘awals; Painting Revenues, ages ense le: th 7 % S Withdi Painti Ri Wages. Expense; Utilit Expense; ard 3. Prepare a trial balance,SCORE: PROFESSO} : plem #18 Journalizing, Posting and Preparing a Trial Batance after several years with a large accountin, counting practice. The following tra guring May 2010: : at May 2 3 4 ~ 10 12 13 16 19 22 23 25 26 27 28 Required: 8 firm, Virgie Dal decided to establish her own nsactions of Virgie Dal, CPA, were completed Transferred P92,500 cash from account, Virgie Dal, CPA. Acquired office equipment o1 Acquired office’supplies on a Company, P17,100. Performed accounting services for Cayaco Computer Company and submitted a bill of P29,200 for those services. Paid for accounting and tax books for use in the practice, P19,500. Paid Lorenzo Office Supply Company, P4,100 on account. Acquired a condominium unit for the accounting practice, P265,000. A down Payment of P38,000 was made and issued a note payable for the remaining P227,000. “ Paid salaries, P14,200. Received P9,750 from Cayaco Computer Company, billed on May 6. Paid telephone expense, P6S0. ig Received cash in the amount of P14,600 from Ponfetada Book Company for accounting services rendered for the month. Acquired office supplies on account from Lorenzo Office Supply Company, P4,650. Withdrew P8,150 for personal use. Paid salaries, P10,300. @ personal savings.account to a checking N account from Gicain Furniture, P36,800. iccount from Lorenzo Office Supply ” Billed Bosante Exporters P31,600 for accounting services rendered. Paid PICPA-Tacloban P5,500 for professional dues. Paid P3,250 rent on an office-copying machine. 1, Prepare the journal entries for the May transactions. ' 2. Post the entries to the ledger accounts, using account numbers for cross-reference and using journal page number. 1. The following accounts will. be needed: Cash (110); Accounts Receivable (120); Office Supplies (130); Office Condominium (140); Office Equipment (150); Accounting Library (160); Notes Payable (210); Accounts Payable (220); Dal, Capital (310); Dal, Withdrawals (320); Accounting Revenues (410); Salaries Expense (510); Rent Expense (520); Telephone Expense (530) and Professional Dues Expense (540). 3. Prepare a trial balance.problem #19 paring a Trial Balance Journalizing, posting and Pre| i otcher, i on Mar. 1, 2010, Samuel Barbo, 8 recent medical board ee . nen eae his medicy the month of March, the following transactions wer completed: practice. During Barbo invested 42,500 perso! name of Samuel Barbo, M.D. i 2° Acquired medical equipment costing P95,000 from Tambilo Medical Equipment Company, paying 15,000 in cash, and financing the remainder by issuing a P80,000 note payable. 3) Paid rent for the month of March, P7,500. 5 Acquired medical supplies from Suiza Medical Supply Company on account, P15,250. Received P18,450 in cash from patients for medical services rendered this week. 9 Paid Pablo Labs for preparing laboratory work on a patient, P1,800. 12 Paid salaries of medical technician and receptionist, P9,600. 15 Billed patients 51,700 for services rendered. ry Paid Suiza Medical Supply Company 3,750 on account. 20 Paid telephone expense, pgso. ° 21 Paid miscellaneous expense, P1,150... DP Received P27,500 from patients billed on Mar. 15. ial Acquired additional medical supplies from Suiza Medical Supply Company on account, P9,100. 25 Paid salaries, P11,200. 26 Billed patients P40,150 for services rendered. oa Paid Suiza Medical Supply Company, P6,150 on account, 28 Withdrew P15,000 from the medical practice. tar 1 nal funds in a new bank account in the Required: 1, Prepare the journal entries for the March transactions. 2. Post the entries to the ledger accounts, using account numbers for cross-reference are journal page number'1. “The following accounts will be’ needed! Cash Ae nae fa (120); Medical Supplies (130); Medical Equipment (140k eat oy foams Payable: (220); Barbo, Capital (310);° Bat rai ase lesen Revenues (410); Salaries Expense’ (510); Rent Expens? can pense (530); Telephone Expense (540) and Miscellanea! 3. Prepare a trial balance.