Scribd
Upload
5K views8 pages

Mr. Labandero Journalizing Posting and Unadjusted Trial Balance ASSIGNMENT KEY

Mr. Laban Deyro opened a laundry business called Mr. Labandero in Iloilo City on January 2, 2016. Throughout the month he had various business transactions including collecting revenue from customers, purchasing supplies, paying expenses, and receiving a payment from Sikat Hotel. An unadjusted trial balance was prepared on January 30, 2016 showing total debits of PHP578,000 and total credits of PHP578,000.

Uploaded by

Miguel Nieves
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
5K views8 pages

Mr. Labandero Journalizing Posting and Unadjusted Trial Balance ASSIGNMENT KEY

Mr. Laban Deyro opened a laundry business called Mr. Labandero in Iloilo City on January 2, 2016. Throughout the month he had various business transactions including collecting revenue from customers, purchasing supplies, paying expenses, and receiving a payment from Sikat Hotel. An unadjusted trial balance was prepared on January 30, 2016 showing total debits of PHP578,000 and total credits of PHP578,000.

Uploaded by

Miguel Nieves
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
You are on page 1/ 8

Mr. Laban Deyro opened his laundry business in Iloilo City on January 2, 2016.

The following transactions


occurred during the month of January 2016:

DATE
1/2/16
1/3/16
1/4/16
1/5/16
1/7/16
1/8/16

1/9/16

1/10/16
1/12/16
1/15/16
1/19/16
1/20/16
1/21/16
1/22/16

1/25/16

1/26/16
1/27/16
1/28/16
1/29/16

Required Tasks
1. Prepare the general journal entries for the above transactions (ignore giving explanations after every en
2. Post the following transactions to the general ledger.
3. Prepare the unadjusted trial balance as of January 30, 2016
. Laban Deyro opened his laundry business in Iloilo City on January 2, 2016. The following transactions
curred during the month of January 2016:

TRANSACTIONS
Invested PHP500,000 to his business. The trade name of the business was "MR. LABANDERO"
Hired Allan and Allie who will manage his business
Collections from various customers for the day - PHP3,000
Purchase store supplies from Labada Store - PHP10,000
Collections from various customers for the day - PHP8,000
MR. LABANDERO entered into an exclusive contract with Sikat Hotel where the business will do all
the laundry of the hotel.

Sikat Hotel availed the services of MR. LABANDERO amounting to PHP15,000. Payment will be
made on January 20, 2016.
Collections from various customers for the day - PHP12,000
Purchase a washing machine amounting to PHP50,000
Collections from various customers for the day - PHP20,000
Paid electricity bill for the month amounting to PHP18,000
Received payment from Sikat Hotel amounting to PHP15,000
Paid salaries of Allan and Allie - PHP15,000
Mr. Laban Deyro needed money for the hospitalization of his son. He withdrew PHP18,000 from the
business.
Paid airfare ticket of PHP1,500 for the travel of Mr. Deyro to Manila to negotiate a contract with
Sosyal Hotel

Paid taxes to the City of Iloilo, PHP4,000


Purchased office supplies amounting to PHP12,500
Collections from various customer for the day - PHP5,000
Sosyal Hotel availed the services of MR. LABANDERO amounting to PHP15,000 payable on Feb 25,
2016.

quired Tasks
Prepare the general journal entries for the above transactions (ignore giving explanations after every entry)
Post the following transactions to the general ledger.
Prepare the unadjusted trial balance as of January 30, 2016
Date Account title dr cr
1/2/2016 Cash 500,000 1
Ddeyro, Capital 500,000 1

1/4/2016 Cash 3,000 1


Service Revenue 3,000 1

1/5/16 Laundry Supplies 10,000 1


Cash 10,000 1

1/7/16 Cash 8,000 1


Service Revenue 8,000 1

1/9/2016 Accounts Recevable 15,000 1


service revenue 15,000 1

1/10/2016 Cash 12,000 1


Service Revenue 12,000 1

1/12/2016 Laundry Equipt - washing machine 50,000 1


Cash 50,000 1

1/15/2016 Cash 20,000 1


Service Revenue 20,000 1

1/19/2016 Utilities Expense -electricity 18,000 1


cash 18,000 1

1/20/2016 Cash 15,000 1


Accounts Receivable 15,000 1

1/21/2016 Salaries Expense 15,000 1


Cash 15,000 1

1/22/2016 Drawings 18,000 1


cash 18,000 1

1/25/2016 Travel Expense 1,500 1


cash 1,500 1

1/26/2016 Tax Expense 4,000 1


cash 4,000 1

1/27/2016 office suppilies 12,500 1


cash 12,500 1
1/28/2016 Cash 5,000 1
Service Revenue 5,000 1

1/29/2016 Accounts Receivable 15,000 1


Service Revenue 15,000 1
34
D C
A L
D E
E R
cash Accounts Recevable service revenue
dr cr dr cr dr cr
500,000 10,000 15,000 15,000 3,000
3,000 50,000 15,000 balance 8,000
8,000 18,000 15,000
12,000 15,000 12,000
20,000 18,000 20,000
15,000 1,500 5,000
5,000 4,000 15,000
12,500 Balance 78,000
434000 balance
16pts 3pts 8pts

Utilities Expense -electricity Salaries Expense Travel Expense


dr cr dr cr dr cr
18,000 15,000 1,500

office suppilies Deyro Drawings Laundry Supplies


dr cr dr cr dr cr
12,500 18,000 10,000
Laundry Equipt - washing machine
dr cr
50,000 balance

36pts.

1pt

Tax Expense
dr cr
4,000

Deyro, Capital
dr cr
500,000

Drawings
Travel Expense

Tax Expense
office suppilies
MR.LABANDERO 1
Unadjusted Trial Balance 1
31-Jan-16 1
Dr Cr
cash 434000 1
Accounts Receivable 15,000 1
Laundry Supplies 10,000 1
office Supplies 12,500 1
Laundry Equipt - washing machine 50000 1
Deyro Capital 500,000 1
Drawings 18,000 1

Laundry Services Revenue 78,000 1


Utilities Expense -electricity 18000 1
Travel expense 1,500 1
salaries expense 15,000 1
Tax expense 4,000 1
Total 578000 578,000 1
16

You might also like