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Workshop On Simple Bookkeeping

The document summarizes the transactions of Mr. Chino Garcia's barbershop for the month of January 2017. It lists expenses such as supplies purchased, licenses paid, and salaries paid. It also lists revenue from services provided and cash invested in the business. To properly record the transactions, a chart of accounts is provided to use in journalizing, posting to ledger accounts, and preparing a trial balance.

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404 views8 pages

Workshop On Simple Bookkeeping

The document summarizes the transactions of Mr. Chino Garcia's barbershop for the month of January 2017. It lists expenses such as supplies purchased, licenses paid, and salaries paid. It also lists revenue from services provided and cash invested in the business. To properly record the transactions, a chart of accounts is provided to use in journalizing, posting to ledger accounts, and preparing a trial balance.

Uploaded by

Internal Audit Services
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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WORKSHOP ON SIMPLE BOOKKEEPING

The following are the transactions happened during the month of January 2017 of Mr. Chino
Garcia, a proprietor of Barbershop:

DATE
JANUARY TRANSACTIONS
3 Mr. Garcia invested 100,000 cash to the business.
4 The owner paid 5,000 for the permits and licenses of the business
4 The owner starts hiring employees
5 Purchased 5,000 office supplies on cash
5 The owner used 1,500 in cash for advertising the business
6 Paid the rent for the month of January worth 5,000
8 Purchased grooming supplies worth 15,000 on account.
10 Purchased furniture & fixtures on cash 18,000
15 The business generated 30,000 cash service revenue
18 The company paid 10,000 of the accounts payable last January 8.
20 Mr. Garcia withdrew 2,000 cash from the business for personal expenses.
21 Billed clients for services rendered worth 5,000
23 Paid utilities worth 3,000
25 Received the amount billed last January 21.
27 Paid the salaries expense for the month of January worth 8,000

The following chart of accounts shall be used in recording the transactions:


CHART OF ACCOUNTS
Cash Garcia, Capital Permits & Licenses Expense
Office Supplies Advertising Expense Rent Expense
Grooming Supplies Furniture & Fixtures Service Revenue
Accounts Payable Garcia, Drawing Accounts Receivable
Utilities Expense Salaries Expense

REQUIRED:
1. Analyze the transactions, whether accountable or not.
2. Journalize the transactions
3. Post the journalize entries to the ledger
4. Create a Trial Balance

XEREZ A. SINGSON, CPA [email protected] 09482850206


GENERAL JOURNAL
DATE PARTICULARS PR DEBIT CREDIT

XEREZ A. SINGSON, CPA [email protected] 09482850206


GENERAL JOURNAL
DATE PARTICULARS PR DEBIT CREDIT

XEREZ A. SINGSON, CPA [email protected] 09482850206


GENERAL JOURNAL
DATE PARTICULARS PR DEBIT CREDIT

XEREZ A. SINGSON, CPA [email protected] 09482850206


GENERAL LEDGER

ACCOUNT TITLE : CASH FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 101
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : ACCOUNTS RECEIVABLE FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 102
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : OFFICE SUPPLIES FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 103
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : GROOMING SUPPLIES FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 104
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : FURNITURE & FIXTURES FOR THE MONTH OF: JANUARY
ACCOUNT NUMBER : 150
DATE PARTICULARS DEBIT CREDIT BALANCE

XEREZ A. SINGSON, CPA [email protected] 09482850206


ACCOUNT TITLE : ACCOUNTS PAYABLE FOR THE MONTH OF: JANUARY
ACCOUNT NUMBER : 200
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : GARCIA, CAPITAL FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 300
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : GARCIA, DRAWING FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 301
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : SERVICE REVENUE FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 400
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : ADVERTISING EXPENSE FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 500
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : RENT EXPENSE FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 501
DATE PARTICULARS DEBIT CREDIT BALANCE

XEREZ A. SINGSON, CPA [email protected] 09482850206


ACCOUNT TITLE : UTILITIES EXPENSE FOR THE MONTH OF: JANUARY
ACCOUNT NUMBER : 502
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : SALARIES EXPENSE FOR THE MONTH OF: JANUARY


ACCOUNT NUMBER : 503
DATE PARTICULARS DEBIT CREDIT BALANCE

ACCOUNT TITLE : PERMITS & LICENSES EXPENSE FOR THE MONTH OF: JANUARY
ACCOUNT NUMBER : 504
DATE PARTICULARS DEBIT CREDIT BALANCE

XEREZ A. SINGSON, CPA [email protected] 09482850206


CHINO GARCIA
TRIAL BALANCE
JANUARY 31, 2017
ACCOUN DEBIT CREDIT
T ACCOUNT TITLE
NUMBER
101 Cash
102 Accounts Receivable
103 Office Supplies
104 Grooming Supplies
150 Furniture & Fixtures
200 Accounts Payable
300 Garcia, Capital
301 Garcia, Drawing
400 Service Revenue
500 Advertising Expense
501 Rent Expense
502 Utilities Expense
503 Salaries Expense
504 Permits & Licenses Expense
TOTAL

XEREZ A. SINGSON, CPA [email protected] 09482850206

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