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Journal, T Accounts, Trial

The document records various financial transactions of a company between April 1 and April 29, including an initial investment of $100,000 cash and $20,000 for furniture and fixtures, revenues from resort fees totaling $300,500, payment of $15,000 for advertising, $125,000 for leasehold renovations with $75,000 from a note payable, and expenses such as utilities, salaries, rent, and accounts receivable collections. The journal closes with a total balance of $738,500.

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252 views14 pages

Journal, T Accounts, Trial

The document records various financial transactions of a company between April 1 and April 29, including an initial investment of $100,000 cash and $20,000 for furniture and fixtures, revenues from resort fees totaling $300,500, payment of $15,000 for advertising, $125,000 for leasehold renovations with $75,000 from a note payable, and expenses such as utilities, salaries, rent, and accounts receivable collections. The journal closes with a total balance of $738,500.

Uploaded by

Jasmine Acta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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GENERAL JOURNAL

Date
Account Titles and Explanation P.R. Debit
YR-2020
Apr-01 Cash 100,000
Furniture and Fixture 20,000
Carpio, Capital
To record the investment of the owner

Apr-05 Advertising Expense 15,000


Cash
To record the advertising paid

Apr-10 Leasehold Improvement 125,000


Notes Payable
Cash
To record the renovation

Apr-11 Cash 150,000


Beach Resort Fees Revenues
To record the cash revenues

Apr-18 Accounts Receivable 28,000


Beach Resort Fees Revenues
To record the revenues on account

Apr-20 Notes Payable 50,000


Cash
To record the notes paid

Apr-25 Utiltities Expense 18,000


Cash
To record the utilties paid

Apr-26 Accounts Receivable 28,000


Cash
To record the collection of receivable

Apr-27 Cash 122,500


Beach Resort Fees Revenues
To record the cash revenues
Apr-28 Salaries Expense 82,000
Cash
To record the salaries paid

Apr-29 Rent Expense

Balance 738,500

(Name of Company)
GENERLA JOURNAL

Date
Account Titles and Explanation P.R. Debit
YR-2020
Balance

(Name of Company)
CLOSING ENTRIES

Date
Account Titles and Explanation P.R. Debit
YR-2020
Balance
Cash Accounts Receivable
GJ-1 Apr-01 100,000.00 15,000.00 Apr-05 Apr-18 28,000.00
Apr-11 150,000.00 75,000.00 Apr-10
Apr-26 28,000.00 50,000.00 Apr-20
Apr-27 122,500.00 18,000.00 Apr-25
45,000.00 Apr-29
Credit

120,000

₱ 197,500.00 ₱ -
15,000

Furniture and Fixtures Carpio, Capital


Apr-01 20,000.00 Apr-01
50,000
75,000

150,000

₱ 20,000.00
28,000

Beach Resort Fees Revenues Utilities Expense


150,000.00 Apr-11 Apr-25
50,000 28,000.00 Apr-18 18,000.00
122,500.00 Apr-27

18,000

28,000 ₱300,500.00 ₱ 18,000.00

Advertising Expense Rent Expense


Apr-05 15,000.00 Apr-29 25,000.00
122,500 Apr-29 20,000.00
82,000

₱ 35,000.00 ₱ 25,000.00

738,500

GJ-2

Credit
GJ-5

Credit
Accounts Receivable Leasehold Improvement
28,000.00 Apr-26 Apr-10 125,000.00

₱ 125,000.00

Carpio, Capital Notes Payable


120,000.00 Apr-20 50,000.00 50,000.00 Apr-10

₱ 120,000.00 ₱ -

Utilities Expense Salaries Expense


82,000.00

₱ 82,000.00

Rent Expense
Quiz Number 18
1 The owner invested cash of P50,000.

2 Bought supplies worth 3,000 on account. Wilfredo B


3 Acquired Architectural Equipment of 40,000. Paid in cash. TRIAL BALA
4 Rendered Architectural service on account. December 31
5 Paid supplies bought on number 2.
6 Rendered services for cash, P60,000 Acct code
7 Paid utilties, P25,000
8 Supplies used for this month is P2,000
9 30,000 worth of accounts receivable was collected.
Wilfredo Baltazar
TRIAL BALANCE
December 31, 2019

Account titles Debit Credit


Cash 49,480
Accounts Receivable 20,000
Supplies on Hand 2,500
Equipment 63,020
Accumulated Depreciation 10,000
Furniture and Fixtures 20,000
Accumulated Depreciation 5,000
Accounts Payable 3,000
Utilties Payable 6,500
Baltazar, Capital 127,000
Baltazar, Drawings 12,000
Professional Fees 78,000
Advertising Expense 15,000
Rent Expense 8,000
Depreciation Expense 20,000
Supplies Used 6,000
Salaries Expense 10,000
Taxes and Licenses 3,500

BALANCE ₱ 229,500.00 ₱ 229,500.00

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