PROBLEM 3:

JOURNAL
Date Account Titles Debit Credit
Cash ₱1,000,000
Owner's Capital 1000000.00
to record the owner's investment to the business.
Equipment ₱58,000.00
Cash ₱ 58,000.00
to record acquisition of Equipment.
Office Supplies ₱300,000.00
Accounts Payable ₱300,000.00
to record purchase of office supplies in account.
Cash ₱100,000.00
Accounts Payable ₱100,000.00
to record payment of accounts payable.
Cash ₱500,000.00
Service Fee ₱500,000.00
to record service fee.
Accounts Receivable ₱800,000.00
Service Fee ₱800,000.00
to record service fee.
Cash ₱700,000.00
Accounts Receivable ₱700,000.00
to record collection of accounts receivable.
Salaries Expense ₱70,000.00
Cash ₱70,000.00
to record payment of salaries
Interest Expense ₱5,000.00
Cash ₱5,000.00
to record payment of interest
Owner's Drawings ₱10,000.00
Cash ₱10,000.00
to record owner's withdrawal.

PROBLEM 7:
JOURNAL
Date Account Titles Debit Credit
Cash ₱400,000
Owner's Capital ₱400,000.00
to record owner's investment to the business.
Cash ₱500,000.00
Notes Payable ₱500,000.00
to record the loan obtained.
Advertising Expense ₱35,000.00
Cash ₱35,000.00
to record payment for newspaper ad.
 Equipment ₱380,000.00
Cash ₱380,000.00
to record purchase of equipment.
Cash ₱200,000.00
Service Fees ₱200,000.00
to record service fees
Accounts Receivable ₱420,000.00
Service Fees ₱420,000.00
to record service fees
Cash ₱300,000.00
Accounts Receivable ₱300,000.00
to record collection of Accounts receivable
8 Notes Payable ₱250,000.00
Cash ₱250,000.00
to record partial payment of loan
Interest Expense ₱60,000.00
Cash ₱60,000.00
to record payment for interest
Supplies Expense ₱16,000.00
Cash ₱16,000.00
to record payment of supplies
Utilities Expense ₱72,000.00
Cash ₱72,000.00
to record payment of Utilities
Salaries Expense ₱120,000.00
Cash ₱120,000.00
to record payment of salaries
Owner's Drawings ₱90,000.00
Cash ₱90,000.00
to record withdrawal of owner

PROBLEM 9:
JOURNAL
Date Account Titles Debit Credit
Cash ₱600,000
Owner's Capital 600000.00
to record owner's contribution to the business.
Cash ₱400,000.00
Notes Payable ₱400,000.00
to record loan obtained.
Inventory ₱200,000.00
Cash ₱200,000.00
to record purchase of inventory.
Inventory ₱500,000.00
Accounts Payable ₱500,000.00
to record purchase of inventor on account.
Cash ₱900,000.00
 Sales ₱900,000.00
to record total sales of goods.
Cost of goods ₱400,000.00
Inventory ₱400,000.00
to recor the cost of the goods sold.
Accounts Payable ₱400,000.00
Cash ₱400,000.00
to record payment of accounts payable.
Cash ₱500,000.00
Account Receivable ₱500,000.00
to record collection of accounts receivable.
Equipment ₱480,000.00
Cash ₱480,000.00
to record purchase of equipment.
Owner's Drawings ₱10,000.00
Cash ₱10,000.00
to record distributed cash to Mr. Uhtred.
Interest Expense ₱5,000.00
Cash ₱5,000.00
to record payment of interest.
 T-accounts

Cash Service Fee

1,000,000 58,000 500,000
100,000 70,000 800,000
500,000 5,000 1,300,000
700,000
10,000 Accounts Receivable
2,177,000 800,000 700,000

Owner's Capital 100,000

1,000,000

1,000,000 Salaries Expense

70,000
Equipment
58,000 70,000

58,000 Interest Expense

5,000

Office Supplies 5,000

300,000
Owner's Drawings
300,000 10,000

Accounts Payable 10,000

300,000
100,000
400,000

T-accounts

Cash Owner's Capital

400,000 35,000 400,000
500,000 380,000
200,000 250,000 400,000
300,000 60,000
16,000 Advertising Expense
72,000 35,000
120,000
90,000 35,000
377,000
 Owner's Drawing Notes Payable
90,000 250,000 500,000

90,000 250,000

Utilities Expense Equipment

72,000 380,000

72,000 380,000

Interest Expense
Accounts Receivable 60,000
420,000 300,000
60,000
120,000
Supplies Expense
Service Fees 16,000
200,000
420,000 16,000
620,000

Salaries Expense
120,000

120,000

T-accounts

Cash Inventory
600,000 200,000 200,000 400,000
400,000 400,000 500,000
900,000 480,000 300,000
500,000 10,000
5,000 Accounts Receivable
1,305,000 500,000

Owner's Capital 500,000

600,000

600,000 Notes Payable

400,000
Equipment
 480,000 400,000

480,000 Interest Expense

5,000

Sales 5,000

900,000 Owner's Drawings

900,000 10,000

Accounts Payable 10,000

400,000 500,000
Cost of Goods
400,000 400,000

400,000
 Unadjusted Trial Balance

Accounts Debit Credit

Cash 377,000
Equipment 380,000
Accounts Receivable 120,000
Notes Payable 250,000
Owner's Capital 400,000
Owner's Drawing 90,000
Service Fee 620,000
Advertising Expense 35,000
Interest Expense 60,000
Supplies Expense 16,000
Utilities Expense 72,000
Salaries Expense 120,000
Total ₱1,270,000.00 ₱1,270,000.00

Bebbanburg Merchandising
Unadjusted Trial Balance
December 31, 20x1
Accounts Debit Credit
Cash 1,305,000
Inventory 300,000
Accounts Receivable 500,000
Equipment 480,000
Notes Payable 400,000
Accounts Payable 100,000
Owner's Capital 600,000
Owner's Drawing 10,000
Sales 900,000
Cost of Goods 400,000
Interest Expense 5,000
Total ₱2,500,000.00 ₱2,500,000.00