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    Sharon galabin
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    This document is a journal entry for Charis Wholesale Supply for various dates in January. It records transactions involving cash, accounts receivable, inventory, supplies, equipment, accounts payable, notes payable, capital, and various income and expense accounts. Various items were purchased or sold for cash or on credit and expenses were paid throughout the month.

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    This document is a journal entry for Charis Wholesale Supply for various dates in January. It records transactions involving cash, accounts receivable, inventory, supplies, equipment, accounts payable, notes payable, capital, and various income and expense accounts. Various items were purchased or sold for cash or on credit and expenses were paid throughout the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    158 views17 pages

    Journal Entry

    Uploaded by

    Sharon galabin
    This document is a journal entry for Charis Wholesale Supply for various dates in January. It records transactions involving cash, accounts receivable, inventory, supplies, equipment, accounts payable, notes payable, capital, and various income and expense accounts. Various items were purchased or sold for cash or on credit and expenses were paid throughout the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 17

    JOURNAL ENTRY OF CHARIS WHOLESALE SUPPLY

    Page No. 1

    DATE DESCRIPTION POST REF. DEBIT CREDIT


    Jan-01 Cash 101 20,000
    Land 142 50,000
    Building 143 100,000
    R. Almario Capital 301 170,000
    Explanation..
    Purhases 510 24,000
    Accounts Payable 201 24,000
    Explanation…

    Jan-02 Freight In 526 600


    Cash 101 600
    Explanation…

    Jan-03 Cash 101 16,000


    Sales 401 16,000
    Explanation…

    Jan-05 Accounts Receivable 201 12,000


    Sales 12,000
    Explanation…

    Jan-06 Freight Out 644 500


    Cash 101 500
    Explanation…

    Accounts Payable 201 1,300


    Purchase Returns & Allow 512 1,300
    Explanation…

    Jan-10 Cash 101 17,500


    Accounts Receivable 112 17,500
    Explanation…

    Jan-11 Accounts Payable 201 22,700


    Purchase Discounts 520 454
    Cash 101 22,246
    Explanation…

    Supplies 126 2,000


    Cash 101 2,000
    Explanation…

    Jan-13 Purchases 510 30,000


    Cash 101 30,000
    Explanation…

    Jan-14 Accounts Receivable 112 24,000


    Sales 401 24,000
    Explanation…

    Jan-15 Cash 401 11,760


    Sales Discounts 201 240
    Accounts Receivables 12,000
    Explanation…

    Jan-16 Sales Returns & Allowances 412 2,000


    Account Receivables 112 2,000
    Explanation…

    Jan-17 Cash 101 1,000


    Purchase Return & Allowances 512 1,000
    Explanation…

    Jan-18 R. Almario Drawing 310 6,000


    Cash 101 6,000
    Explanation…

    Jan-19 Equipment 155 8,000


    Cash 101 8,000
    Explanation…

    Jan-20 Cash 101 40,000


    Notes Payable 212 40,000
    Explanation…

    Jan-22 Utilities Expense 720 2,500


    Cash 101 2,500
    Explanation…

    Jan-25 Cash 101 23,300


    Sales 401 23,300
    Explanation…

    Jan-26 Advertising Expense 601 1,200


    Salaries Expense 701 5,500
    Cash 6,700
    Explanation…

    Jan-29 Sales Returns & Allowances 412 1,500


    Cash 101 1,500
    Explanation…

    Jan-30 Cash 101 22,000


    Accounts Receivable 112 22,000
    Explanation…

    Jan-31 Purchases 510 15,000


    Accounts Payable 201 15,000
    Explanation…
    No. 1
    GENERAL LEDGER

    Account Title: Cash


    Account No. 101

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 175,000 175,000
    Jan-01 GJ1 700 174,300
    Jan-02 GJ1 15,000 189,300
    Jan-03 GJ1 400 188,900
    Jan-06 GJ1 18,000 170,900
    Jan-10 GJ1 22,246 148,654
    Jan-11 GJ1 1,800 146,854
    Jan-11 GJ1 28,000 118,854
    Jan-13 GJ2 12,740 131,594
    Jan-17 GJ2 1,000 132,594
    Jan-18 GJ2 6,000 126,594
    Jan-19 GJ2 8,000 118,574
    Jan-20 GJ2 60,000 178,594
    Jan-22 GJ2 2,500 176,094
    Jan-25 GJ2 25,500 201,594
    Jan-26 GJ2 1,300 200,294
    Jan-29 GJ2 1,200 199,094
    Jan-30 GJ2 6,500 192,594
    Jan-30 GJ3 24,500 217,094

    Account Title: Accounts Receivable


    Account No. 112

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-05 13,000 13,000
    Jan-14 GJ1 26,000 3,900
    Jan-15 GJ1 13,000 26,000
    Jan-16 GJ2 1,500 24,500
    Jan-30 GJ2 24,500 -
    Jan-31 GJ3 3,500 3,500

    Account Title: Merchandise Inventory


    Account No. 120

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-02 GJ1 24,000 24,000
    Jan-03 GJ1 700 24,700
    Jan-04 GJ1 800 16,700
    Jan-05 GJ1 7,500 9,200
    Jan-07 GJ1 1,300 7,900
    Jan-11 GJ1 454 7,446
    Jan-13 GJ1 28,000 35,446
    Jan-14 GJ2 12,700 22,746
    Jan-17 GJ2 1,000 21,746
    Jan-17 GJ2 14,500 7,246
    Jan-25 GJ2 12,000 19,246
    Jan-31 GJ3 1,400 17,846

    Account Title: Supplies


    Account No. 126

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-11 GJ1 1800 1800

    Account Title: Equipment


    Account No. 155

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 130,000 130,000
    Jan-10 GJ1 18,000 148,000
    Jan-19 GJ1 8,000 156,000

    Account Title: Accounts Payable


    Account No. 201

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-02 GJ1 24,000 24,000
    Jan-07 GJ1 1300 22,700
    Jan-11 GJ1 22700 -
    Jan-31 GJ1 12,000 12,000

    Account Title: Notes Payable


    Account No. 210

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-20 GJ2 60,000 60,000
    Account Title: W. Solis Capital
    Account No. 301

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 305000 305000

    Account Title: W. Solis Drawing


    Account No. 310

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-18 GJ2 6,500 6,500

    Account Title: Sales


    Account No. 401

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-04 GJ1 15,000 15,000
    Jan-05 GJ1 13,000 28,000
    Jan-14 GJ2 26,000 54,000
    Jan-25 GJ2 25,500 79,500
    Jan 31 GJ3 3,500 83,000

    Account Title: Sales Returns & Allowances


    Account No. 412

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-16 GJ2 1,500 1,500
    Jan-29 GJ2 1,200 2,700

    Account Title: Sales Discount


    Account No. 420

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-15 GJ2 260 260

    Account Title: Cost of Goods Sold


    Account No. 520

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-04 GJ1 8,000 8,000
    Jan-05 GJ1 7,500 15,500
    Jan-14 GJ2 12,700 28,200
    Jan-25 GJ2 14,500 42,700
    Jan-31 GJ3 1,400 44,100

    Account Title: Advertising Expense


    Account No. 601

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-26 GJ2 1,300 1,300

    Account Title: Freight Out


    Account No. 644

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-06 GJ1 400 400

    Account Title: Salaries


    Account No. 701

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-30 GJ2 6,500 6,500

    Account Title: Utilities


    Account No. 720

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-22 GJ2 2,500 2,500
    GENERAL LEDGER

    Account Title: Cash


    Account No. 101

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 45000 45000
    Jan-01 GJ1 2000 65000
    Jan-02 GJ1 600 64400
    Jan-03 GJ1 16000 80400
    Jan-06 GJ1 500 79900
    Jan-10 GJ1 17500 97400
    Jan-11 GJ1 22246 75154
    Jan-11 GJ1 2000 73154
    Jan-13 GJ1 30000 43154

    Account Title: Accounts Receivable


    Account No. 112

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 35000 35000
    Jan-05 GJ1 12000 47000
    Jan-10 GJ1 29500
    Jan-14 GJ1 24000 53500
    Jan-15 GJ1 12000 41500
    Jan-16 GJ1 2000 39500
    Jan-30 GJ1 22000 17500

    Account Title: Merchandise Inventory


    Account No. 120

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 30000 30000
    Jan-31 GJ1 30000 0
    Jan-10 GJ1 60500 60500

    Account Title: Supplies


    Account No. 126

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 10000 10000
    Jan-11 GJ1 2000 12000

    Account Title: Prepaid Insurance


    Account No. 129

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 15000 15000

    Account Title: Land


    Account No. 142

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 50000 50000

    Account Title: Building


    Account No. 143

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 100000 100000

    Account Title: Equipment


    Account No. 155

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 130000 130000
    Jan-19 GJ1 8000 138000

    Account Title: Accounts Payable


    Account No. 201

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 15000 15000
    Jan-01 GJ1 24000 39000
    Jan-06 GJ1 1300 37700
    Jan-11 GJ1 22700 15000
    Jan-31 GJ1 15000 30000

    Account Title: Interest Payable


    Account No. 210

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 10000 10000

    Account Title: Notes Payable


    Account No. 212
    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 30000 3000
    Jan-01 GJ1 40000 70000

    Account Title: R. Almario, Capital


    Account No. 310

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-18 GJ1 210000 210000
    Jan-01 GJ1 170000 380000
    Jan-31 GJ1 25514 405514
    Jan-31 GJ1 6000 399514

    Account Title: R. Almario, Drawing


    Account No. 301

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 6000 6000
    Jan-31 GJ3 6000 0

    Account Title: Sales


    Account No. 401

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-03 GJ1 16000 16000
    Jan-05 GJ1 12000 28000
    Jan-14 GJ1 24000 52000
    Jan-25 GJ1 23300 75300
    Jan-31 GJ3 75300 0

    Account Title: Sales Discount


    Account No. 420

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-15 GJ1 240 240
    Jan-31 GJ3 240 0
    VENUS WHOLESALE SUPPLY

    GENERAL LEDGER

    Account Title: Cash


    Account No. 101

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 100,000 100,000
    Jan-03 GJ1 15,000 115,000
    Jan-06 GJ1 500 114,500
    Jan-10 GJ1 25,000 89,500
    Jan-11 GJ1 28,224 61,276
    Jan-11 GJ1 2,000 59,276
    Jan-13 GJ2 30,000 29,276
    Jan-15 GJ2 11,760 41,036
    Jan-15 GJ2 6,500 34,536
    Jan-17 GJ2 700 35,236
    Jan-18 GJ2 12,000 23,236
    Jan-19 GJ3 15,000 8,236
    Jan-20 GJ3 50,000 58,236
    Jan-22 GJ3 750 57,486
    Jan-25 GJ3 33,300 90,786
    Jan-25 GJ3 10,000 80,276
    Jan-29 GJ3 1,500 79,286
    Jan-30 GJ3 23,000 102,286
    Jan-31 GJ3 16,200 86,086

    Account Title: Accounts Receivable


    Account No. 112

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-05 GJ1 12,000 12,000
    Jan-14 GJ2 24,000 36,000
    Jan-15 GJ2 12,000 24,000
    Jan-16 GJ2 1,000 23,000
    Jan-30 GJ2 23,000 -
    Jan-30 GJ2 13,500 13,500

    Account Title: Merchandise Inventory


    Account No. 120
    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 30,000 30,000
    Jan-03 GJ1 8,000 22,000
    Jan-05 GJ1 6,500 15,500
    Jan-06 GJ1 1,200 14,300
    Jan-10 GJ1 250,000 39,300
    Jan-11 GJ1 576 38,726
    Jan-13 GJ2 30,000 68,724
    Jan-14 GJ2 12,700 56,024
    Jan-16 GJ2 600 56,624
    Jan-17 GJ2 700 55,924
    Jan-19 GJ2 18,000 73,924
    Jan-22 GJ3 750 74,674
    Jan-25 GJ3 18,300 56,374
    Jan-30 GJ3 7,200 49,174

    Account Title: Supplies


    Account No. 126

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-11 GJ2 2,000 2,000

    Account Title: Equipment


    Account No. 155

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-19 GJ3 15,000 15,000

    Account Title: Accounts Payable


    Account No. 201

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-01 GJ1 30,000 30,000
    Jan-06 GJ1 1,200 28,800
    Jan-11 GJ1 28,800 -
    Jan-19 GJ2 18,000 18,000
    Jan-25 GJ3 10,000 8,000

    Account Title: Notes Payable


    Account No. 210

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-20 GJ2 50,000 50,000

    Account Title: E. Montero, Capital


    Account No. 301

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan GJ1 100,000 100,000

    Account Title: E. Montero, Drawing


    Account No. 310

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-18 GJ2 12,000 12,000

    Account Title: Sales


    Account No. 401

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-03 GJ1 15,000 15,000
    Jan-05 GJ1 12,000 27,000
    Jan-14 GJ1 24,000 51,000
    Jan-25 GJ1 33,300 84,300
    Jan-30 GJ3 97,800 13,500 97,800

    Account Title: Sales Returns and Allowances


    Account No. 412

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-16 GJ1 1,000 1,000
    Jan-25 GJ3 1,500 2,500

    Account Title: Sales Discount


    Account No. 420

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-16 GJ1 240 240
    Account Title: Cost of Goods Sold
    Account No. 522

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-03 GJ1 8,000 8,000
    Jan-05 GJ1 6,500 14,500
    Jan-14 GJ1 12,700 27,200
    Jan-25 GJ1 600 26,600
    GJ2 18,300 44,900
    Jan-30 GJ3 7,200 52,100

    Account Title: Advertising Expense


    Account No. 601

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-31 GJ1 1,200 1,200

    Account Title: Freight Out


    Account No. 644

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-06 GJ1 500 500

    Account Title: Salaries


    Account No. 701

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-15 GJ2 6,500 6,500
    Jan-31 GJ3 6,500 13,000

    Account Title: Rent Expense


    Account No. 710

    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-31 GJ2 7,000 7,000

    Account Title: Utilities


    Account No. 720
    Balance
    Date Remarks Post Ref. Debit Credit
    Debit Credit
    Jan-31 GJ2 1,500 1,500
    CHARIS WHOLESALE SUPPLY
    PRELIMINARY TRIAL BALANCE
    As of December 2018

    Account No. Account Titles Debit Credit


    101 Cash 116,514
    112 Account Receivable 17,500
    120 Merchandise Inventory 30,000
    126 Supplies 12,000
    129 Prepaid Insurance 15,000
    142 Land 50,000
    143 Building 100,000
    155 Equipment 138,000
    201 Accounts Payable 30,000
    210 Interest Payable 10,000
    212 Notes Payable 70,000
    301 R. Almario, Capital 380,000
    310 R. Almario, Drawing 6,000
    401 Sales 75,300
    412 Sales Returns & Allowances 3,500
    420 Sales Discounts 240
    510 Purchases 69,000
    512 Purchases Returns and Allowances 2,300
    520 Purchase Discounts 454
    526 Freight in 600
    601 Advertising Expense 1,200
    644 Freight Out 500
    701 Salaries 5,500
    720 Utilities 2,500
    800 Income Summary -
    568,054 568,054
    CHARIS WHOLESALE SUPPLY
    PRELIMINARY TRIAL BALANCE
    As of December 2018

    Account No. Account Titles Debit Credit


    101 Cash 217,094
    112 Account Receivable 3,500
    120 Merchandise Inventory 17,846
    126 Supplies 1,800
    155 Equipment 156,000
    201 Accounts Payable 12,000
    212 Notes Payable 60,000
    301 W. Solis, Capital 305,000
    310 W. Solis, Drawing 6,000
    401 Sales 83,000
    412 Sales Returns & Allowance 2,700
    420 Sales Discounts 260
    520 Cost of Goods Sold 44,100
    601 Advertising Expense 1,300
    644 Freight Out 400
    701 Salaries 6,500
    720 Utilities 2,500
    460,000 460,000

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