Name _____________________________________________________ Section _____________________

Date Account Title and Explanation PR Debit

2021
Cash 101 2. _________
Dec-01 1.___________________________________ 301
4. _____________________________
Taxes and Licenses 7. _______ ₱ 370.00
5. ___________ 6. __________________________________ 8. _______
Payment of business permit

9. ______________________________________ 102 ₱ 3,000.00

Dec-06 10. __________________________________ 101
Purchase of tables, chairs, shelves and other fixtures for cash

11. ______________________________________ 103 13.________

12. __________________________________ 101
Dec-07
Accounts Payable 201
Acquired service equipment with 50% downpayment

15. ______________________________________ 105 17.________

Dec-07 16. __________________________________ 201
Purchase supplies on account

18. ______________________________________ 101 ₱ 1,900.00

Dec-09 19. __________________________________ 401
Rendered Service

20. ______________________________________ 104 ₱ 4,250.00

Dec-12 21. __________________________________ 401
Rendered Service on account. Collectible within 10 days

22. ______________________________________ 24. ______ 26. _______

Dec-14 23. __________________________________ 25. ______
Additional Investment of the owner

Accounts Receivable 104 ₱ 3,400.00

Dec-15 Service Revenue 401
Rendered Service on account. Collectible within 30 days

28. ____________________________________ 101 ₱ 4,250.00

Dec-22 Accounts Receivable 104
Collection from customer in transaction 7

29.______________________________________ 201 ₱ 1,500.00

Dec-23 Cash 101
Payment of liability

30.______________________________________ 302 ₱ 7,000.00

Dec-25 Cash 101
Withdrawal of the owner from the business

31. ____________________________________ 502 ₱ 1,500.00

Dec-29 Cash 101
Payment of Rental

Cash 101 ₱ 12,000.00

Dec-30 32._________________________________ 202
Acquired a bank loan

33. ____________________________________ 503 ₱ 3,500.00

Dec-31 34. ________________________________ 101
35. ___________________________
__________
Credit

3. _________

₱ 370.00

₱ 3,000.00

14._______
₱ 8,000.00

₱ 1,500.00

₱ 1,900.00

₱ 4,250.00

27. _______

₱ 3,400.00

₱ 4,250.00

₱ 1,500.00

₱ 7,000.00

₱ 1,500.00

₱ 12,000.00

₱ 3,500.00
Gray Electronic Repair Services December 2021 transactions.
Transaction #1: On December 1, 2021, Mr. Donald Gray started Gray Electronic Repair Services by investing ₱100,000.
Chart of Accounts
Transaction #2: On December 5, Gray Electronic Repair Services paid registration and licensing fees for the business, ₱370. Account
Code ASSETS
Transaction #3: On December 6, the company acquired tables, chairs, shelves, and other fixtures for a total of ₱3,000. The entire
amount was paid in cash. 101 Cash
Transaction #4: On December 7, the company acquired service equipment for ₱16,000. The company paid a 50% down payment and
the balance will be paid after 60 days. 102 Furniture and Fixtures
Transaction #5: Also on December 7, Gray Electronic Repair Services purchased service supplies on account amounting to ₱1,500.
103 Equipment
Transaction #6: On December 9, the company received ₱1,900 for services rendered. 104 Accounts Receivable
Transaction #7: On December 12, the company rendered services on account, ₱4,250.00.The amount is to be collected after 10 days.
105 Supplies
Transaction #8: On December 14, Mr. Gray invested an additional ₱3,200.00 into the business. LIABILITIES
Transaction #9: Rendered services to a big corporation on December 15. due within 30 days in the the amount of ₱3,400.
201 Accounts Payable
Transaction #10: On December 22, the company collected from the customer in transaction #7. 202 Loans Payable
Transaction #11: On December 23, the company paid some of its liability in transaction #5 by issuing a check.

Transaction #12: On December 25, the owner withdrew cash due to an emergency needof ₱7,000 from the company.

Transaction # 13: On December 29, the company paid rent for December, ₱1,500.
Transaction #14: On December 30, the company acquired a ₱12,000 bank loan.
Transaction #15: On December 31, the company paid salaries to its employees, ₱3,500.
ccounts
Account
Code OWNERS EQUITY

301 Donald Gray, Capital Chart of Accounts

302 Gray, Drawing Account Code

ASSETS Account Code

REVENUE 101 Cash 301

401 Service Revenue 102 Furniture and Fixtures 302

EXPENSES 103 Equipment

501 Taxes and Licenses 104 Accounts Receivable 401

502 Rent Expense 105 Supplies

503 Salaries and Wages LIABILITIES 501

201 Accounts Payable 502

202 Loans Payable 503

OWNERS EQUITY

Donald Gray, Capital

Gray, Drawing

REVENUE
Service Revenue

EXPENSES
Taxes and Licenses

Rent Expense

Salaries and Wages

Name:______________________________________________ Section:______________________ Account Name _____________________________
Date Item PR Debit

Account Name _____________________________ Account Code: 101 Dec-07

Date Item PR Debit Credit Balance Dec-07
Dec-01 Dec-23
Dec-05 Account Name _____________________________
Dec-06 Date Item PR Debit

Dec-07
Dec-09 Account Name _____________________________
Dec-14 Date Item PR Debit

Dec-22 Dec-01
Dec-23 Dec-14
Dec-25 Account Name _____________________________
Dec-29 Date Item PR Debit

Dec-30
Dec-31 Account Name _____________________________
Account Name _____________________________ Account Code: 102 Date Item PR Debit
Date Item PR Debit Credit Balance Dec-09
Dec-12
Account Name _____________________________ Account Code: 103 Dec-15
Date Item PR Debit Credit Balance Account Name _____________________________
Date Item PR Debit

Account Name _____________________________ Account Code: 104

Date Item PR Debit Credit Balance Account Name _____________________________
Dec-12 Date Item PR Debit

Dec-15
Dec-22 Account Name _____________________________
Account Name _____________________________ Account Code: 105 Date Item PR Debit
Date Item PR Debit Credit Balance
Account Code: 201
Credit Balance

Account Code: 202

Credit Balance

Account Code: 301

Credit Balance

Account Code: 302

Credit Balance

Account Code: 401

Credit Balance

Account Code: 501

Credit Balance

Account Code: 502

Credit Balance

Account Code: 503

Credit Balance