No.

Journal Entry
Debit Credit

1 Cash on Hand
Cash in Bank
Capital

2 Operating Expense - Bus. Permits

Cash

3 Purchases
Cash
Accounts Payable

4 Cash
Accounts Receivable
Sales

Operating Expense - Delivery

Cash

5 Accounts Receivable
Sales Discount
Sales

Operating Expense - Delivery

Cash

7 Purchases
Purchase Discount
Accounts Payable
Cash in Bank

8 Cash in Hand
Accounts Receivable

9 Cash in Hand
 Accounts Receivable

10 Cash in Hand
Accounts Receivable
Sales Discount
Sales

Operating Expense - Delivery

Cash

11 Cash on Hand
Cash in Bank
TOTAL
NET LOSS
CASH INFLOW
BALANCE SHEET TOTAL
 Income Cash Flow
Dr Cr Dr Cr Dr

30,000.00 30,000.00
70,000.00 70,000.00
100,000.00

2,000.00 2,000.00
2,000.00

10,000.00 10,000.00
5,000.00
5,000.00

1,500.00 1,500.00
3,000.00
4,500.00 4,500.00

150.00 150.00
150.00

6,750.00
750.00 750.00
7,500.00 7,500.00

250.00 250.00
250.00

10,000.00 10,000.00
1,000.00 1,000.00
4,500.00
4,500.00

1,500.00 1,500.00
1,500.00

2,000.00 2,000.00
 2,000.00

5,100.00 5,100.00
5,100.00
1,800.00 1,800.00
12,000.00 12,000.00

400.00 400.00
400.00

20,000.00 20,000.00
20,000.00
170,300.00 170,300.00 25,350.00 25,000.00 130,100.00
350.00
97,800.00
Cash Flow Balance Sheet
Cr Dr Cr

30,000.00
70,000.00
100,000.00

2,000.00 2,000.00

5,000.00 5,000.00
5,000.00

1,500.00
3,000.00

150.00 150.00

6,750.00

250.00 250.00

4,500.00
4,500.00 4,500.00

1,500.00
1,500.00

2,000.00
 2,000.00

5,100.00
5,100.00

400.00 400.00

20,000.00
20,000.00 20,000.00
32,300.00 144,950.00 145,300.00
350.00

145,300.00 145,300.00
1 After defeating Lord Voldemort, Harry Potter started a small business reselling lemons whi
The lemons cost P10.00 and Harry sells them for P15.00. Harry invested P100,000.00 cash
deposited in a bank account in Gringotts Bank - Iloilo Branch.

2 Harry paid P2,000.00 for securing the necessary business permits in order to start his busine

3 Harry bought 1,000 lemons from Neville and paid 50% in cash. The remaining 50% was ch

4 Harry sold 300 lemons to Hermione, 100 of which were paid in cash and the rest were on ac
Harry incurred P150.00 as delivery expenses for this transaction.

5 Harry sold 500 lemons on account to Ron. Harry gave him a 10% discount on the transactio
Harry also incurred P250 as delivery expenses.

6 Harry bought 1,000 lemons. Neville gave him a 10% discount on the transaction.
Harry paid 50% through check and the remaining balance was charged to his account.

7 Harry paid Neville P3,000.00 for the former's account with the latter.

8 Received P1,500.00 from Hermione as payment for her account.

9 Received P2,000.00 from Ron as payment for his account.

10 Sold 800 lemons at 15% discount to Luna, 50% of which were paid in cash and 50% on acc
Harry incurred P400.00 as delivery expense.

11 Withdrew P20,000.00 from Gringotts Bank.

 reselling lemons which he buys from his supplier, Neville.
ted P100,000.00 cash into the business, 70% of which is

rder to start his business.

emaining 50% was charged on account.

and the rest were on account.

count on the transaction.

ransaction.
d to his account.

cash and 50% on account.