Name: Asi, Rod Steven D. Asi Professor: Richelle C.

Requinala
Section: BIT 4-V Mechanical Technology Date: October 28, 2022

Problem 1
General Journal
Date Account Title and Explanation Ref Debit Credit
Jan 1 Cash 110 150,000 00
Galleto, Capital 310 150,000 00
To record owner’s investment
Jan 1 Insurance Expense 540 5,600 00
Cash 110 5,600 00
To record paid insurance for the month
Jan 6 Supplies 130 16,400 00
Accounts Payable 210 16,400 00
To record purchase supplies on account
Jan 7 Advertising Expense 540 8,900 00
Cash 110 8,900 00
To record payment for advertisement
Jan 10 Cash 110 18,500 00
Service Revenue 410 18,500 00
To record earned service fee
Jan 12 Cash 110 800 00
Notes Payable 220 1,700 00
Service Revenue 410 2,500
To record earned service fee and
promissory note
Jan 15 Furniture 160 18,400 00
Accounts Payable 210 18,400 00
To record purchase furniture on account
Jan 18 Utility Expense 550 4,800 00
Cash 110 4,800 00
To record paid for utility
Jan 22 Accounts Payable 210 18,400 00
Cash 110 18,400 00
To record paid supplies on cash
Jan 25 Accounts Receivable 120 1,500 00
Service Revenue 410 1,500 00
To record earned service fee
Jan 26 Salary Expense 510 5,600 00
Cash 110 5,600 00
To record payment for office staff
salaries
Jan 28 Cash 110 3,200 00
Notes Receivable 150 1,700 00
Accounts Receivable 120 1,500
To record the received cash from
customers
Jan 30 Galleto, Drawing 320 5,000 00
Cash 110 5,000 00
To record withdraw by owner
Jan 31 Accounts Payable 210 16,400 00
Cash 110 16,400 00
To record paid supplies
T-account

Cash Accounts Receivable Furniture Notes Receivable

Debit Credit Debit Credit Debit Credit Debit Credit
(Jan1) 150,000 (Jan1) 5,600 (Jan25) 1,500 (Jan28) 1,500 (Jan15) 18,400 (Jan12) 1,700 (Jan28) 1,700
(Jan10) 18,500 (Jan7) 8,900
(Jan12) 800 (Jan18) 4,800
(Jan28) 3,200 (Jan22) 18,400
(Jan26) 5,600
(Jan30) 5,000
(Jan31) 16,400
Bal. 107,800 Bal. 0 Bal. 18,400 Bal. 0

Supplies Accounts Payable Owner’s Equity/Capital Drawing

Debit Credit Debit Credit Debit Credit Debit Credit
(Jan6) 16,400 (Jan22) 18,400 (Jan6) 16,400 (Jan1) 150,000 (Jan30) 5,000
(Jan31) 16,400 (Jan15) 18,400

Bal. 16,400 Bal. 0 Bal. 18,400 Bal. 5,000

Advertising Expense Utility Expense Salary Expense Insurance Expense

Debit Credit Debit Credit Debit Credit Debit Credit
(Jan7) 8,900 (Jan18) 4,800 (Jan26) 5,600 (Jan1) 5,600

Bal. 8,900 Bal. 4,800 Bal. 5,600 Bal. 5,600

Service Revenue
Debit Credit
(Jan10) 18,500
(Jan12) 2,500
(Jan25) 1,500

Bal. 22,500
Trial Balance
Galleto Beauty Salon
Trial Balance
January 31, 2020
Accounts Debit Credit
Cash 172,500 64,700
Accounts Receivable 1,500 1,500
Furniture 18,400
Notes Receivable 1,700 1,700
Supplies 16,400
Accounts Payable 34,800 34,800
Galleto, Capital 150,000
Galleto, Drawing 5,000
Advertising Expense 8,900
Utility Expense 4,800
Salary Expense 5,600
Insurance Expense 5,600
Service Revenue 22,500
TOTAL 275,200 275,200
Problem 2
General Journal
Date Account Title and Explanation Ref Debit Credit
Nov.1 Cash 101 34,000 00
Accounts Receivable 120 40,000 00
Supplies 130 5,000 00
Land 160 50,000 00
Accounts payable 210 16,400 00
Acosta, Capital 310 112,600 00
a. Cash 110 35,000 00
Acosta, Capital 310 35,000 00
b. Land 160 30,000 00
Cash 110 30,000 00
c. Rent Expense 4,500 00
Cash 110 4,500 00
d. Accounts Receivable 120 15,250 00
Service Revenue 410 15,250 00
e. Accounts Payable 210 9,000 00
Cash 110 9,000 00
f. Supplies 130 2,8000 00
Accounts Payable 210 2,800 00
g. Cash 110 31,750 00
Service Revenue 410 31,750 00
h. Cash 110 27,800 00
Accounts Receivable 120 27,800 00
i. Dry Cleaning Expense 540 14,800 00
Accounts Payable 210 14,800 00
j. Wage Expense 550 8,200 00
Truck Expense 560 1,875 00
Utility Expense 570 1,575 00
Miscellaneous Expense 580 850 00
Cash 110 12,500 00
k. Supplies 130 4,250 00
Supplies Expense 590 4,250 00
l. Acosta, Drawing 320 10,000 00
Cash 110 10,000 00
T-account

Cash Accounts Receivable Supplies Land

Debit Credit Debit Credit Debit Credit Debit Credit
(Nov.1) 34,000 (b) 30,000 (Nov.1) 40,000 (h) 27,800 (Nov.1) 5,000 (Nov.1) 50,000
(a) 35,000 (c) 4,500 (d) 18,250 (f) 2,800 (b) 30,000
(g) 31,750 (e) 9,000 (k) 4,250
(h) 27,800 (j) 12,500
(l) 10,000

Bal. 62,550 Bal. 30,450 Bal. 12,050 Bal. 80,000

Accounts Payable Owner’s Equity/Capital Drawing Utility Expense

Debit Credit Debit Credit Debit Credit Debit Credit
(e) 9,000 (Nov.1) 16,400 (Nov1) 112,600 (l) 10,000 (j) 1,575
(f) 2,800 (a) 35,000
(i) 14,800

Bal. 25,000 Bal. 147,600 Bal. 10,000 Bal. 1,575

Rent Expense Dry Cleaning Expense Wage Expense Truck Expense

Debit Credit Debit Credit Debit Credit Debit Credit
(c) 4,500 (i) 14,800 (j) 8,200 (j) 1,875

Bal. 4,500 Bal. 14,800 Bal. 8,200 Bal. 1,875

Miscellaneous Expense Supplies Expense Service Revenue

Debit Credit Debit Credit Debit Credit
(j) 850 (k) 4,250 (d) 18,250
(g) 31,750

Bal. 850 Bal. 4,250 Bal. 50,000

Trial Balance
Colfax Dry Cleaners
Trial Balance
November 30, 2020
Accounts Debit Credit
Cash 128,550 66,000
Accounts Receivable 58,250 27,800
Supplies 12,050
Land 80,000
Accounts Payable 9,000 34,000
Acosta, Capital 147,600
Acosta, Drawing 10,000
Utility Expense 1,575
Rent Expense 4,500
Dry Cleaning Expense 14,800
Wage Expense 8,200
Truck Expense 1,875
Miscellaneous Expense 850
Supplies Expense 4,250
Service Revenue 50,000
TOTAL 329,650 329,650