BALIWAG POLYTECHNIC COLLEGE

ELECTIVE: FUNDAMENTALS OF ABM 1

MR. JOMAR V. VILLENA, CPA

WRITTEN WORK 3
Cris Consulting Service engaged in the following transactions during March 2017, its first year of
operations.

March 1 Cris invested 59,000 of cash to start the business.

2 He purchased office supplies 2000 on account.
3 He paid 40,000 cash for building to use as a future office.
4 He performed services for customers and received cash 20,000.
9 He performed services for customers on account 16,000.
12 He paid the supplies on March 2 transaction.
23 He collected and received 10,000 cash from a customer on account.
31 He paid the following expenses: Salary 1,200 and Rent 500.
31 The owner withdrew 1,000 for personal use.

Required:
1. Journalize the following transactions used the following account:
Cash, Accounts Receivable, Office Supplies, Building, Accounts Payable, Cris Capital, Cris Drawings,
Service Revenue, Salary Expense and Rent Expense.
2. After journalizing the transactions, post the entries to the ledger (T-account).
3. Prepare the trial balance.

WRITTEN WORK 4

DATE ACCOUNT DEBIT CREDIT

Aug 2 Cash 60,000
Ben Capital 60,000

5 Cash 150,000
Note Payable 150,000

9 Supplies 2,700
Accounts Payable 2,700

11 Prepaid Rent 12,000

Cash 12,000

14 Accounts Receivable 26,3000

Service Income 26,300

22 Cash 14,000
Accounts Receivable 14,000

25 Advertising Expense 3,500

Cash 3,500

27 Accounts Payable 2,700

Cash 2,700

31 Utilities Expense 2,200

Cash 2,200

Requirement:
1. Explain the business transaction.
2. Post it to the ledger
3. Prepare the trial balance

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