July 20, 2024

FABM

➔​ Jan. 8 - Paid P80,000 for taxes

Accounting and licenses to the city for
registration and opening of the
Practices/Exercise business.
➔​ Jan. 10 - Paid P20,000 for
advertising expenses for flyers
Module Transactions and brochures.
➔​ Jan. 11 - Rendered service to Sue
A COMPANY Key and billed the latter P60,000.
➔​ Jan. 13 - Rendered service to
Matt Ibay and collected from the
1.​ A invested P300,000 cash to the
latter P40,000.
business. ➔​ Jan. 15 - Paid P20,000 for the
2.​ A bought and paid office supplies transaction last January 5.
amounting to P50,000. ➔​ Jan. 20 - Collected half of the
3.​ A bought office equipment on balance from Ms. Sue Key.
account amounting to P200,000. ➔​ Jan. 30 - Paid P30,000 and
P20,000 for rent and salary
4.​ A bought furniture amounting to
expense for the month ended.
P100,000 and paid half.
5.​ A paid P10,000 for advertising R. CRUZ COMPANY
expenses.
6.​ A paid P20,000 of his payable 1.​ On April 1, 2020, Mr. Rey Cruz
incurred for the purchase of invested P100,000 in cash to a
furniture. business named R.C Security
7.​ A opened the business. Agency.
8.​ Ms. B paid Mr. A P70,000 for 2.​ The agency paid P100,000 upon
services rendered. signing of the least contract on
9.​ Mr. A billed Mr. C P50,000 for April 2, 2020. The amount paid
services rendered. represents the rental for the
10.​Mr. A withdrew cash of P10,000 month of April.
for personal use. 3.​ The business paid a total of
P3,500 for business registration
DRILON COMPANY fee, permits and licenses on April
3, 2020.
➔​ Jan. 1 - Invested P200,000 in
4.​ The agency purchased P50,000
Cash and P300,000 in furniture.
worth of security equipment by
➔​ Jan. 3 - Bought P50,000 Office
Supplies and paid Cash. issuing a 12% promissory note
➔​ Jan. 5 - Bought additional office payable within 1 year after
equipment amounting to issuance on April 5.
P100,000 on account.
July 20, 2024
FABM

5.​ On April 6, the agency purchased 15.​On April 30, received a phone bill
on Account the Office Supplies from PLDT amounting to P5,000.
worth P10,000.
6.​ Security services rendered on ANIME WORLD GALLERY - 2019
April 10 are valued at P30,000.
Payment is yet to be received ➔​ May 2 - Gisel likes drawing
from the clients. Anime. Sometimes she displays
7.​ Security assistance was rendered them in her office. To her
on April 12. The amount of surprise, many anime fans buy
P15,000 was received from the her drawings and paintings and
client representing the amount place special orders for Anime
billed for the services. characters of their choice. Thus,
8.​ On April 15, a total of P10,000 Gisel decided to open Anime
was paid to personnel World Gallery, Gisel invested
representing their salary for the P300,000 in this initial endeavor.
period April 1-15. ➔​ May 3 - Gisel Ong issued a
9.​ Half of the amount due from the promissory note for a P10,000
office supplies purchased on loan from Allay Bank. The note
April 6 was paid on April 16. carries a 12% interest per annum.
10.​Rendered security services and The interest and the principal are
received P10,000 in cash on April payable after one year.
18. The total amount billed to ➔​ (1) May 5 - Ms. Ong acquired
clients amounted to P40,000. The office equipment to be used for
balance is expected to be the office paying P180,000 in
collected in the succeeding days. cash.
11.​ On April 20, the agency collected ●​ (2) Ms. Ong acquired
P10,000 from the client last April furniture from Bloom’s
10. costing P40,000, paying
12.​Purchased furniture and fixture P12,000 and the balance
(office chairs, tables, and filing at the end of the month.
cabinet) on April 21 amounting to (Note: A compound entry
P12,000 in cash. is needed in this
13.​ On April 22, Mr. Cruz took P5,000 transaction).
cash from the business for ➔​ May 6 - Gisel Ong rented office
personal use. space and paid two months’ rent
14.​On April 26, the agency received in advance, all costing P18,000
and paid for the electricity and ➔​ (1) May 7 - Ms. Ong paid Asia
water bill totalling P8,500. Insurance Co. P10,800 for
one-year insurance of the gallery.
July 20, 2024
FABM

●​ (2) Hired a part-time ➔​ May 30 - Ms. Ong received a bill

student helper with a from Meralco amounting to
P4,000 monthly salary. The P4,500.
student helper started
working on the following DR. PIM PAUL DERMA CLINIC
day.
➔​ (1) May 8 - Called National
Bookstore and ordered art
supplies worth P7,200.
●​ (2) The 7,200 worth of art
supplies ordered from the
National Book Store were
delivered on account.
➔​ May 11 - An oil painting of Naruto
and an acrylic painting of L was
delivered to Mr. Ku To. Gisel Ong
billed Mr. Ku To P120,000 for the
paintings delivered.
➔​ May 12 - Ms. Ong paid National
Book Store P3,000 of the amount
owed.
➔​ (1) May 15 - Ms. Ong received
P50,000 from Ms. Ku To as partial
payment for the anime painting
delivered last May 11.
●​ (2) Gisel Ong withdrew
P180,000 for personal use.
➔​ May 20 - Ms. Ong received
Transactions:
P80,000 cash for a contract to
➔​ Feb. 1 - Dr. Paul borrowed
paint Lelouch.
₱420,000 from his father, issuing
➔​ May 23 - Gisel Ong received cash
a personal promissory note. He
from Ms. Uto San, P90,000, for a
invested this money in the
charcoal poster of Kirito.
business.
➔​ May 25 - Ms. Ong paid a helper's
➔​ Feb. 2 - Facial services rendered
salary for the month amounting
to Ms. Chua on account ₱18,000.
to 5,000.
➔​ Feb. 5 - Paid taxes and licenses
➔​ May 29 - Gisel Ong paid a water
₱2,500.
bill of P540 for the month.
July 20, 2024
FABM

➔​ Feb. 6 - Medical services for cash

from walk-in customers, ₱8,000.
➔​ Feb. 9 - Borrowed ₱200,000 from
Mr. Ga Lee Sin, signing a
non-interest-bearing note.
➔​ Feb. 11 - Bought medical
equipment on credit from A store,
₱22,000.
➔​ Feb. 14 - Dr. Paul made a
personal withdrawal of ₱5,000.
➔​ Feb. 18 - Paid utilities, P3,200.
➔​ Feb. 19 - Collected account from
Ms. Chua in full.
➔​ Feb. 22 - Full settlement of
account with A Store.
➔​ Feb. 28 - Dr. Paul invested a
computer worth ₱75,000 with
20% unpaid balance to be
assumed by the business.