Problem #1

Debit Credit
1 Paid for supplies purchased on account last month. Accounts payable Cash
2 Billed customers for services performed. Accounts Receivable Service Revenue / Income
3 Paid the current month's rent. Rent Expense Cash
4 Purchased supplies on credit. Supplies Accounts Payable
5 Received cash from customers for services performed. Cash Service Revenue / Income
6 Acquired equipment on account. Equipment Accounts Payable
7 Received a bill for repairs. Repairs and Maintenance expense Accounts Payable
8 Returned part of the equipment purchased in (6) for credit. Accounts payable Equipment
9 Received cash from customers previously billed. Cash Accounts Receivable
10 Paid the bill received in (7). Accounts payable Cash
11 Booked an appointment for services. no entry no entry
12 Paid for repairs with cash. Repairs and Maintenance expense Cash
13 Made cash withdrawals. Cadelina, Withdrawals Cash

Problem #2

Balance Sheet

Account
Assets
Number
110 Cash
120 Accounts Receivable
130 Office Supplies
140 Prepaid Rent
150 Land
160 Building
165 Accumulated Depreciation – Building
170 Furniture and Fixtures
175 Accumulated Depreciation – Furniture and Fixture

Liabilities
210 Notes Payable
220 Accounts Payable
230 Unearned Consulting Revenues
240 Interest Payable

Owner's Equity
310 Arib, Capital
320 Arib, Withdrawals
330 Income Summary

Income Stattement

Revenues / Income
410 Consulting Revenues
420 Referral Revenues

Expenses
510 Salaries Expense
520 Rent Expense
530 Office Supplies Expense
540 Insurance Expense
550 Depreciation Expense – Building
560 Depreciation Expense – Furniture and Fixture
570 Miscellaneous Expense
580 Interest Expense
Problem #3

Aristotle Advertising Agency

Trial Balance
December 31, 2018

Debit Credit
Cash 21,000
Accounts Receivable 28,500
Land 87,000
Building 375,000
Notes Payable 135,000
Accounts Payable 26,400
Go, Capital 254,700
Go, Withdrawal 18,000
Service Revenue 258,000
Salaries Expense 75,000
Utilities expense 30,000
Supplies Expense 15,000
Equipment rental expenses 15,000
Insurance expense 9,600
Total 674,100 674,100

Problem #4

Normal Balance
Owner's Equity
Type of Account
Figueroa, Figueroa,
Asset Liabilities Capital Withdrawals Revenues Expenses Debit Credit
1 Cash / /
2 Salaries Expense / /
3 Accounts Receivable / /
4 Figueroa, Capital / /
5 Service Revenues / /
6 Prepaid Rent / /
7 Accounts Payable / /
8 Land / /
9 Supplies Expense / /
10 Prepaid Insurance / /
11 Utilities Expense / /
12 Consulting Revenues / /
13 Figueroa, Withdrawals / /
14 Salaries Payable / /
15 Unearned Revenues / /
16 Office Equipment / /
17 Rent Payable / /
18 Notes Receivable / /
19 Interest Expense / /
20 Notes Payable / /
21 Supplies / /
22 Interest Receivable / /
23 Rent Expense / /

Problem #5

1-Oct Cash 50,000

Java, Capital 50,000

2-Oct Prepaid insurance 14,500

Cash 14,500

3-Oct Advertising expense 3,200

Accounts payable 3,200

4-Oct Rent expense 8,900

Cash 8,900

7-Oct Repairs expense 2,880

Accounts payable 2,880
 10-Oct Cash 62,500
School fees 62,500

11-Oct Telecommunication expense 2,300

Cash 2,300

15-Oct Furniture 18,800

Cash 8,800
Accounts payable 10,000

18-Oct Accounts payable 3,200

Cash 3,200

21-Oct Java, Withdrawals 8,000

Cash 8,000

24-Oct Gas and oil Expenses 1,800

Accounts payable 1,800

25-Oct Cash 61,400

School fees 61,400

27-Oct Salaries expense 12,000

Cash 12,000

28-Oct Equipment 7,500

Accounts payable 7,500

29-Oct Cash 7,000

Accounts receivable 7,000

30-Oct Utilities expense 3,600

Cash 3,600

31-Oct Miscellaneous expense 620

Cash 620

31-Oct Equipment 12,300

Java, Capital 12,300

Problem #6
#1
1-Oct Cash 350,000
Magpantay, Capital 350,000

3-Oct Prepaid rent 40,500

Cash 40,500

5-Oct Photography Equipment 129,000

Magpantay, Capital 129,000

7-Oct No entry.

8-Oct Office Equipment 54,000

Cash 54,000

10-Oct Photograpy Equipment 75,000

Cash 75,000

12-Oct Supplies 21,000

Accounts payable 21,000

13-Oct Cash 11,400

Service Revenue 11,400

17-Oct Accounts receivable 22,500

Service Revenue 22,500

19-Oct Accounts payable 10,500

Cash 10,500

25-Oct Utilities expense 3,600

Cash 3,600
 26-Oct Telephone expense 2,100
Cash 2,100

28-Oct Cash 7,500

Accounts receivable 7,500

29-Oct Salaries expense 12,000

Cash 12,000

30-Oct Cash 1,500

Unearned revenue 1,500

31-Oct Magpantay, Withdrawal 16,000

Cash 16,000

#2
Cash Account Receivable
1-Oct 350,000 3-Oct 40,500 44,486 22,500 28-Oct 7,500
13-Oct 11,400 8-Oct 54,000
28-Oct 7,500 10-Oct 75,000 dr. bal 15,000
30-Oct 1,500 19-Oct 10,500
25-Oct 3,600
26-Oct 2,100
29-Oct 12,000
31-Oct 16,000
370,400 213,700
dr. bal. 156,700

Supplies Prepaid rent

12-Oct 21,000 44,472 40,500

dr. bal 21,000 dr bal 40,500

Photography Equipment Office Equipment

5-Oct 129,000 44,477 54,000
10-Oct 75,000
dr. bal 54,000
dr. bal 204,000

Accounts Payable Unearned Revenue

19-Oct 10,500 12-Oct 21,000 30-Oct 1,500

cr bal 10,500 cr. Bal. 1,500

Magpantay, Capital Magpantay, Withdrawals

1-Oct 350,000 44,500 16,000
5-Oct 129,000
dr. bal 16,000
cr.bal 479,000

Service Revenue Salaries Expense

13-Oct 11,400 44,498 12,000
17-Oct 22,500
dr.bal 12,000
cr. Bal 33,900

Utilities Expense Telephone Expense

25-Oct 3,600 44,495 2,100

dr. bal 3,600 dr. bal 2,100

#3
Eternal Images
Trial Balance
October 31, 2020

Debit Credit

Cash 156,700
Accounts Receivable 15,000
Supplies 21,000
Prepaid Rent 40,500
Photocgrapy Equipment 204,000
Office Equipment 54,000
Accounts Payable 10,500
Unearned Revenue 1,500
Magpantay, Capital 479,000
Magpantay, Withdrawal 16,000
Service Revenue 33,900
Salaries Expense 12,000
Utilities Expense 3,600
Telephone Expense 2,100

Total 524,900 524,900

Problem #7
#1
a. Cash 250,000
Evangelista, Capital 250,000

b. Furnitures and Fixtures 6,700

Cash 6,700

c. Supplies 3,250
Accounts payable 3,250

d. Rent expense 5,750

Cash 5,750

e. Equipment 115,000
Cash 35,000
Accounts payable 80,000

f. Cash 19,250
Laundry Revenue 19,250

g. Prepaid insurance 5,600

Cash 5,600

h. Accounts payable 7,000

Cash 7,000

i. Utilities expense 2,080

Cash 2,080

j. Cash 12,350
Laundry revenue 12,350

k. Salaries expense 7,400

Cash 7,400

l. Evangelista, Withdrawals 5,000

Cash 5,000

m. Accounts payable 2,750

Cash 2,750

n. Miscellaneous Expense 2,800

Cash 2,800
#2
Cash
a. 250,000 b. 6,700
f. 19,250 d. 5,750
j. 12,350 e. 35,000
g. 5,600
h. 7,000
i. 2,080
k. 7,400
l. 5,000
m. 2,750
n. 2,800
281,600 80,080
dr. bal 201,520

Prepaid Insurance Equipment

g. 5,600 e. 115,000

dr. bal 5,600 dr. bal 115,000

Furniture and Fixtures Accounts Payable

b. 6,700 h. 7,000 c. 3,250
m. 2,750 e. 80,000
dr. bal 6,700 9,750 83,250
cr. Bal 73,500

Evangelista, Capital Evangelista, Withdrawals

a. 250,000 l. 5,000

cr. Bal 250,000 dr. bal 5,000

Laundry Revenue Salaries Expense

f. 19,250 k. 7,400
j. 12,350
dr. bal 7,400
cr. Bal 31,600

Utilities Expense Rent Expense

i. 2,080 d. 5,750

dr. bal 2,080 dr. bal 5,750

Miscellaneous Expense Supplies Expense

n. 2,800 c. 3,250

dr. bal 2,800 dr. bal 3,250

#3
Self-Service Laundry
Trial Balance
May 31, 2020
Debit Credit

Cash 201,520
Prepaid Insurance 5,600
Equipment 115,000
Furniture and Fixtures 6,700
Accounts Payable 73,500
Evangelista, Capital 250,000
Evangelista, Withdrawal 5,000
Laundry Revenue 31,600
Salaries Expense 7,400
Rent Expense 5,750
Supplies expense 3,250
Miscellaneous Expense 2,800
Utilities Expense 2,080
Total 355,100 355,100
Problem #8

a. Cash 157,000
Mulles, Capital 157,000

b. Furniture and Fixtures 15,150

Cash 15,150

c. Equipment 57,500
Mulles, Capital 57,500

d. Computer Software 39,000

Cash 15,000
Accounts payable 24,000

e. Rent Expense 5,300

Cash 5,300

f. Cash 5,160
Service Revenue 5,160

g. Signages 9,000
Cash 5,000
Accounts payable 4,000

h. Advertising expense 3,230

Accounts payable 3,230

i. Supplies 2,290
Accounts payable 2,290

j. Utilities expense 1,240

Cash 1,240

k. Accounts payable 3,230

Cash 3,230

l. Cash 10,900
Service revenue 10,900

m. Salaries expense 8,400

Cash 8,400

n. Mulles, Withdrawals 4,500

Cash 4,500

#2.

Cash Supplies
a. 157,000 b. 15,150 i. 2,290
f. 5,160 d. 15,000
l. 10,900 e. 5,300 dr. bal 2,290
g. 5,000
j. 1,240
k. 3,230
m. 8,400
n. 4,500
173,060 57,820
dr. bal 115,240

Furniture and Fixtures Equipment

b. 15,150 c. 57,500

dr. bal 15,150 dr. bal 57,500

Signages Computer Software

g. 9,000 d. 39,000

dr. bal 9,000 dr. bal 39,000

 Accounts payable Mulles, Capital
k. 3,230 d. 24,000 a. 157,000
g. 4,000 c. 57,500
h. 3,230
i. 2,290 cr. Bal 214,500
3,230 33,520

cr. Bal 30,290

Mulles, Withdrawal Service Revenue

n. 4,500 f. 5,160
l. 10,900
dr. bal 4,500
cr. Bal 16,060

Salaries expense Advertising expense

m. 8,400 h. 3,230

dr. bal 8,400 dr. bal 3,230

Utilities Expense Rent Expense

j. 1,240 e. 5,300

dr. bal 1,240 dr. bal 5,300

#3
Mulles Data Encoders
Trial Balance
May 31, 2020

Debit Credit

Cash 115,240
Supplies 2,290
Furniture and Fixtures 15,150
Equipment 57,500
Signages 9,000
Computer Software 39,000
Accounts Payable 30,290
Mulles, Withdrawal 214,500
Mulles, Capital 4,500
Service Revenue 16,060
Salaries Expense 8,400
Rent Expense 5,300
Advertising Expense 3,230
Utilities Expense 1,240

Total 260,850 260,850

Problem #9

The General Journal

Page 1
Date Account Titles and Explanation P.R Debit Credit
2021
2-Apr Cash 110 120,000
Leon Capital 310 120,000

Initial investment of Leon

3-Apr Supplies 130 1,500

Accounts payable 210 1,500

Purchased supplies on account

4-Apr Bicycles 150 25,000

Cash 110 12,000
Accounts payable 210 13,000

Purchased 10 bicycles, paying P12,000 down and the balance on credit

5-Apr Container 140 29,000

Cash 110 29,000

Purchased container on cash basis

6-Apr Cash 110 4,700

Rental Revenue 410 4,700

Cash rental

8-Apr Container 140 4,000

Cash 110 4,000

Payment of shipping and installation cost

9-Apr No entry

Hired part-time assistant

10-Apr Maintenance Expense 520 750

Cash 110 750

Payment to maintenance person

13-Apr Cash 110 5,000

Rental Revenue 410 5,000

Cash rental

16-Apr Wages Expense 510 480

Cash 110 480

Payment to salaries of part-time assistant

17-Apr Accounts Payable 210 1,500

Cash 110 1,500

Payment to supplies purchased on account, Apr. 3.

18-Apr Repair Expense 530 550

Cash 110 550

Payment to repair of bicycle

20-Apr Cash 110 5,500

Rental Revenue 410 5,500

Cash Rental
22-Apr Wages Expense 510 480
Cash 110 480

Payment to salaries of part-time assistant

23-Apr Accounts Receivable 120 1,100

Rental Revenue 410 1,100

Rental on account

25-Apr Concession Expense 540 3,000

Cash 110 3,000

Payment to the right to the bicycle concession

27-Apr Cash 110 4,100

Rental revenue 410 4,100

Cash Rental

29-Apr Wages Expense 510 480

Cash 110 480

Payment to salaries of part-time assistant

30-Apr Leon, Withdrawals 320 5,000

Cash 110 5,000

Leon's withdrawals

The General Ledger

Account: Cash Account No. 110

Date Explanation J.R Debit Credit Balance
2021
2-Apr Initial investment of Leon GJ - 1 120,000 120,000

4-Apr Purchased 10 bicycles, paying P12,000

down and the balance on credit GJ - 1 12,000 108,000
5-Apr Purchased container on cash basis GJ - 1 29,000 79,000
6-Apr Cash rental GJ - 1 4,700 83,700

8-Apr
Payment of shipping and installation cost GJ - 1 4,000 79,700
10-Apr Payment to maintenance person GJ - 1 750 78,950
13-Apr Cash rental GJ - 1 5,000 83,950
Payment to salaries of part-time
16-Apr
assistant GJ - 1 480 83,470
Payment to supplies purchased on
17-Apr
account, Apr. 3. GJ - 1 1500 81,970
18-Apr Payment to repair of bicycle GJ - 1 550 81,420
20-Apr Cash rental GJ - 1 5,500 86,920
Payment to salaries of part-time
22-Apr
assistant GJ - 1 480 86,440
Payment to the right to the bicycle
25-Apr
concession GJ - 1 3,000 83,440
27-Apr Cash rental GJ - 1 4100 87,540
Payment to salaries of part-time
29-Apr
assistant GJ - 1 480 87,060
30-Apr Leon's withdrawals GJ - 1 5,000 82,060

Account: Accounts Receivable Account No. 120

Date Explanation J.R Debit Credit Balance
2021
23-Apr Rental on account GJ - 1 1,100 1,100

Account: Supplies Account No. 130

Date Explanation J.R Debit Credit Balance
2021
3-Apr Purchased supplies on account GJ - 1 1,500 1,500
Account: Container Account No. 140
Date Explanation J.R Debit Credit Balance
2021
5-Apr Purchased container on cash basis GJ - 1 29,000 29,000
8-Apr
Payment of shipping and installation cost GJ - 1 4,000 33,000

Account: Bicycles Account No. 150

Date Explanation J.R Debit Credit Balance
2021

4-Apr Purchased 10 bicycles, paying P12,000

down and the balance on credit GJ - 1 25,000 25,000

Account: Accounts Payable Account No. 210

Date Explanation J.R Debit Credit Balance
2021
3-Apr Purchased supplies on account GJ-1 1,500 1,500

4-Apr Purchased 10 bicycles, paying P12,000

down and the balance on credit GJ-1 13,000 14,500
Payment to supplies purchased on
17-Apr
account, Apr. 3. GJ-1 1,500 13,000

Account: Leon, Capital Account No. 310

Date Explanation J.R Debit Credit Balance
2021
2-Apr Initial investment of Leon GJ-1 120,000 120,000

Account: Leon, Withdrawals Account No. 320

Date Explanation J.R Debit Credit Balance
2021
30-Apr Leon's withdrawals GJ-1 5,000 5,000

Account: Rental Revenues Account No. 410

Date Explanation J.R Debit Credit Balance
2021
6-Apr Cash rental GJ-1 4,700 4,700
13-Apr Cash rental GJ-1 5,000 9,700
20-Apr Cash rental GJ-1 5,500 15,200
23-Apr Rental on account GJ-1 1,100 16,300
27-Apr Cash rental GJ-1 4100 20,400

Account: Wages Expense Account No. 510

Date Explanation J.R Debit Credit Balance
2021
Payment to salaries of part-time
16-Apr
assistant GJ-1 480 480
Payment to salaries of part-time
22-Apr
assistant GJ-1 480 960
Payment to salaries of part-time
29-Apr
assistant GJ-1 480 1,440

Account: Maintenance Expense Account No. 520

Date Explanation J.R Debit Credit Balance
2021
10-Apr Payment to maintenance person GJ-1 750 750

Account: Repair Expense Account No. 530

Date Explanation J.R Debit Credit Balance
2021
18-Apr Payment to repair of bicycle GJ-1 550 550
 Account: Concession Expense Account No. 540
Date Explanation J.R Debit Credit Balance
2021
Payment to the right to the bicycle
25-Apr
concession GJ-1 3,000 3,000

Leon's Bicycle Rental

Trial Balance
April 30, 2020

Debti Credit
110 Cash 82,060
120 Accounts Receivable 1,100
130 Supplies 1,500
140 Container 33,000
150 Bicycles 25,000
210 Accounts Payable 13,000
310 Leon, Capital 120,000
320 Leon, Withdrawals 5,000
410 Rental Revenue 20,400
510 Wages Expense 1,440
520 Maintenance Expense 750
530 Repair Expense 550
540 Consession Expense 3,000
Totals 153,400 153,400
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