Scribd Logo
Upload

Welcome to Scribd!

  • 2K views

    2016 Jan 1 Cash Computer Equipment Lok, Capital: General Journal Date Particulars

    Uploaded by

    Moon Binn
    The document is a general journal for Mr. Lok Company with various accounting entries recorded throughout January 2016, including the deposit of cash and investment of computer equipment as capital. The journal entries record transactions such as services rendered, equipment purchased on account, payments made, and expenses incurred.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    2016 Jan 1 Cash Computer Equipment Lok, Capital: General Journal Date Particulars

    Uploaded by

    Moon Binn
    2K views25 pages
    The document is a general journal for Mr. Lok Company with various accounting entries recorded throughout January 2016, including the deposit of cash and investment of computer equipment as capital. The journal entries record transactions such as services rendered, equipment purchased on account, payments made, and expenses incurred.

    Original Description:

    Accounting Activity

    Original Title

    APPLICATION-ACTIVITY

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is a general journal for Mr. Lok Company with various accounting entries recorded throughout January 2016, including the deposit of cash and investment of computer equipment as capital. The journal entries record transactions such as services rendered, equipment purchased on account, payments made, and expenses incurred.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    2K views25 pages

    2016 Jan 1 Cash Computer Equipment Lok, Capital: General Journal Date Particulars

    Uploaded by

    Moon Binn
    The document is a general journal for Mr. Lok Company with various accounting entries recorded throughout January 2016, including the deposit of cash and investment of computer equipment as capital. The journal entries record transactions such as services rendered, equipment purchased on account, payments made, and expenses incurred.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 25

    GENERAL JOURNAL

    DATE PARTICULARS
    2016
    Jan 1 Cash
    Computer Equipment
    Lok, Capital

    2 Accounts Receivable
    Consultancy Service Revenue

    3 Trasportation Equipment
    Accounts Payable

    7 Cash
    Consultancy Service Revenue

    15 Accounts Receivable
    Consultancy Service Revenue
    16 Accounts Payable
    Cash

    20 Utilities Expense
    Utilities Payable

    26 Utilities Expense
    Cash
    GENERAL JOURNAL
    PARTICULARS P/R

    omputer Equipment
    Lok, Capital
    To record deposited and investment of cash
    and computer equipment.

    ccounts Receivable
    Consultancy Service Revenue
    To record consultancy services rendered
    on account. - Magnolia Corp.

    rasportation Equipment
    Accounts Payable
    To record bought transporation eqpt on
    account. - Mitsubishi

    Consultancy Service Revenue


    To record consultancy services rendered
    for cash. - Various Clients.

    ccounts Receivable
    Consultancy Service Revenue
    To record consultancy services rendered
    on account. - Codak Co.

    ccounts Payable
    Cash
    To record full payment to Mitsubishi motors.

    Utilities Expense
    Utilities Payable
    To record received water bill.

    Utilities Expense
    Cash
    To record payment for electricity bill.
    DEBIT CREDIT

    880,000.00
    67,000.00
    947,000.00

    75,000.00
    75,000.00

    700,000.00
    700,000.00

    190,000.00
    190,000.00

    32,000.00
    32,000.00
    700,000.00
    700,000.00

    980.00
    980.00
    3,520.00

    2,540.00
    2,540.00
    clues/hin
    Acctng Equation: A = L + E
    clues/hint Account

    1
    Deposited Cash
    invested Capital
    computer Computer Equipment

    2on account AR
    services rendered Cosultancy Service Revenue

    3On Account AP
    Transportation EquTransportation Equipment

    7Services rendered Consultancy Service Revenue


    cash Cash

    15on account AR
    services rendered Consultancy Service Revenue

    16Paid Cash
    in full AP

    20received Utilities Payable


    water bill Utilities Expense
    26Paid Cash
    Electricity Utilities Expense

    A
    Decrease
    2540

    1
    Utilities Payable
    Cash
    Classification Effect Normal Balance Entry

    Asset Increase Debit Cash


    Equity Increase Credit Computer Equipment
    Asset Increase Debit Lok, Capital

    Asset Increase Debit Accounts Receivable


    Income Increase Credit Cosultancy Service

    Liability Increase Credit Trasportation Equipment


    Asset Increase Debit Accounts Payable

    Income Increase Credit Cash


    Asset Increase Debit Cosultancy Service

    Asset Increase Debit Accounts Receivable


    Income Increase Credit Consultancy Servic

    Asset Decrease Credit Accounts Payable


    Liability Decrease Debit Cash

    Liability Increase Credit Utilities Expense


    Expense Increase Debit Utilities Payable
    Asset Decrease Credit Utilities Expense
    Expense Increase Debit Cash

    L E R +
    E -
    2540D -
    uter Equipment
    Lok, Capital

    nts Receivable
    Cosultancy Service Revenue

    ortation Equipment
    Accounts Payable

    Cosultancy Service Revenue

    nts Receivable
    Consultancy Service Revenue

    nts Payable

    es Expense
    Utilities Payable
    es Expense
    Mr. Lok Company
    Unadjusted Trial Balance
    January 31, 2016

    Account Titles Debit


    Cash 367,460.00
    Accounts Receivable 107,000.00
    Computer Equipment 67,000.00
    Transportation Equipment 700,000.00
    Accounts Payable
    Utilities Payable
    Lok, Capital
    Consultancy Service Revenue
    Utilities Expense 3,520.00
    TOTALS 1,244,980.00
    A CA,NCA Cash
    ce L CL, NCL Computer Equipment
    E Lok, Capital
    I
    Credit E Accounts Receivable
    Cosultancy Serv

    Trasportation Equipm
    Accounts Payab
    -
    980.00 Cash
    947,000.00 Cosultancy Serv
    297,000.00
    Accounts Receivable
    1,244,980.00 Consultancy Se

    Accounts Payable
    Cash

    Utilities Expense
    Utilities Payable

    Utilities Expense
    Cash
    uter Equipment
    Lok, Capital

    eivable
    Cosultancy Service Revenue

    ortation Equipment
    Accounts Payable

    Cosultancy Service Revenue

    nts Receivable
    Consultancy Service Revenue

    nts Payable

    es Expense
    Utilities Payable

    es Expense
    Mr. Lok Company
    Statement of Comprehensive Income
    For the month ended January 31, 2016

    Revenue From:
    Consultancy Service Revenue ₱ 297,000.00

    Less: Operating Expense


    Utilities Expense 3,520.00
    Net Income (Loss) ₱ 293,480.00
    CA
    NCA
    CL
    NCL
    E
    I
    E
    Mr. Lok Company
    Statement of Changes in Owner's Equity
    For the month ended January 31, 2016

    Lok, Capital, January 1, 2016


    Add: Investment ₱ 947,000.00
    Net Income 293,480.00
    Total
    Less: Withdrawal
    Lok, Capital, January 31, 2016
    CA
    's Equity NCA
    1, 2016 CL
    NCL
    ₱ - E
    I
    1,240,480.00 E
    ₱ 1,240,480.00
    -
    ₱ 1,240,480.00
    Mr. Lok Company
    Statement of Financial Position
    January 31, 2016
    ASSETS
    Current Assets:
    Cash ₱ 367,460.00
    Accounts Receivable 107,000.00
    Total Current Assets
    Non-Current Assets:
    Computer Equipment ₱ 67,000.00
    Transportation Equipment 700,000.00
    Total Non-Current Assets
    TOTAL ASSETS

    LIABILITY AND EQUITY


    Current Liability:
    Utilities Payable
    Equity:
    Lok, Capital
    TOTAL LIABILITY AND EQUITY
    CA
    tion NCA
    CL
    NCL
    E
    I
    E
    ₱ 474,460.00

    767,000.00
    ₱ 1,241,460.00

    ₱ 980.00

    1,240,480.00
    ₱ 1,241,460.00
    Mr. Lok Company
    Statement of Cash Flows
    For the month ended January 31, 2016

    Cash flows from Operating Activities:


    Cash received from cash customer ₱ 190,000.00
    Cash paid to suppliers (700,000.00)
    Cash paid to utilities expense (2,540.00)
    Net Cash provided by OA
    Cash flows from Financing Activities:
    Cash investment by the owner
    Increase/(Decrease)
    Add: Cash Balance, Jan. 1, 2016
    Cash Balance, Jan. 31, 2016
    Operating Activities
    CA
    2016 CL
    I
    E
    Investing Activities
    NCA

    -₱ 512,540.00
    Financing Activities
    880,000.00 NCL
    ₱ 367,460.00 E
    -
    ₱ 367,460.00
    367,460.00
    CA
    NCA
    CL
    NCL
    E
    I
    E

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy