JOURNALIZING QUIZ NO 10 - ERNESTO PARDUCHO

On April 5, 2005, Ernesto Parducho established an interior decorating business, NeoTechno Designs.
During the remainder of the month, John completed the following transactions related to the
business.
April 5 – Parducho transferred cash from a personal bank account to an account to be used for
the business, P720,000
6 - Paid rent for period of Apr. 6 to end of month, P24,000
7 - Purchased office equipment on account, P210,000
8 - Purchased a service vehicle for P630,000, paying P350,000 cash and giving a note payable
for the remainder.
10 - Purchased supplies for cash, P6,575
12 - Received cash for decorating jobs completed, P146,000
20 - Paid annual premiums on property and casualty insurance, P18,000
23 - Recorded jobs completed on account and sent invoices to customers, P123,750
24 - Received an invoice for vehicle expenses to be paid in July, P22,500
29 - Paid utilities expense, P7,500
29 - Paid miscellaneous expenses, P2,100
30 – Received cash from customers on account P 44,000
30 - Paid salaries of employees, P30,000
30 – Paid creditors a portion of the amount owed for equipment purchased on April 7, P36,000
30 - Withdrew cash for personal use, P140,000

Chart of Accounts
Balance Sheet Income Statement
__________________________________________
______________________________________
ASSET INCOME
110 Cash 410 Consulting Revenue
120 Accounts receivable 420 Referral Revenues
130 Supplies
140 prepaid Rent EXPENSES
150 Prepaid Insurance 510 Salaries Expense
160 Service vehicle 520 Supplies Expense
165 Accumulated Depreciation 530 rent Expense
170 Office equipment 540 Insurance expense
175 Accumulated Depreciation 550 Utilities expense
LIABILITIES 560 Depreciation expense
210 Notes Payable Service Vehicle
220 Account Payable 570 Depreciation Expense
230 Salaries Payable Office equipment
240 Utilities Payable 580 Miscellaneous expense
250 Interest payable 590 Interest expense
260 Unearned Referral Revenue
OWNER’S EQUITY
310 Capital
320 Withdrawals

JOURNAL

Date Account Titles and Explanation P. Debit Credit

10

11

12

13

14

15

16
17

18

19

20

21

22

23

24

25

26

27

28

29

30

31

32
The Ledger

ACCOUNT: CASH ACCOUNT NO:

Date Explanation J.R. Debit Credit Balance

2 1

3 1

4 1

5 1

6 1

7 1

8 1

9 1

10 1

11 1
 ACCOUnt A CCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit

2 1

ACCOUNT NAME: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

3 J-1

4 1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1
ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

3 1

4 1

ACCOUNT ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1
ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

1
2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

ACCOUNT: ACCOUNT NO.

2 J-1

ACCOUNT: ACCOUNT NO.

Date Explanation J.R. Debit Credit Balance

2 J-1

TRIAL BALANCE
AS OF AUGUST , 2015

ACCOUNT TITLE DEBIT CREDIT

ASSET
LIABILITIES

OWNERS EQUITY

INCOME

EXPENSES

TOTAL DEBIT AND CREDIT