1.

May 07 This transaction is a non-accountable event, as Morning Dew Motor just signed a
contract of P4,000 pesos on the space occupied by the shop, therefore no cash has
been out by the business.

May 10 This transaction is a non-accountable event, as Morning Dew Motor just only hired a
chief mechanic that day. Therefore, it is impossible to pay a wage at the beginning of
the work of the employee. In addition to that, the schedule of giving salary is on the
15th day or last week of the month.

May 11 This transaction is a non-accountable event, as Morning Dew Motor just ordered a
repair tools from Timog Machine Tools. Therefore, no cash has been out by the business
and no repair tools receive yet.

May 14 This transaction is a non-accountable event, as Morning dew Motor just hired two shop
helper that day. Therefore, no cash has been out by the business.

May 22 This transaction is a non-accountable event, as Morning Dew motor just placed an order
for repair supplies, therefore no cash has been out by the business.

2.

TRANSACTION ACCOUNTS AFFECTED TYPE OF ACCOUNTS INCREASE OR DECREASE DEBIT OR CREDIT

NO. (A,L,OE) (SPECIFIC ACCOUNT TITLE)

May 06 1. Asset 1. Cash 1. Increase 1. Debit

2. Owners’ Equity 2. Antonio’s Capital 2. Increase 2.Credit
May 08 1. Asset 1. Equipment 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit
May 09 1. Asset 1. Prepaid Supplies 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit
May 13 1. Asset 1. Cash 1. Increase 1. Debit
2. Owners’ Equity 2. Service Revenue 2. Increase 2. Credit
May 15 1. Asset 1. Accounts receivable 1. Increase 1. Debit
2. Owners’ Equity 2. Service revenue 2. Increase 2. Credit
May 17 1. Asset 1. Equipment 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit
May 18 1. Owners’ Equity 1. Wages Expense 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit
May 20 1. Owners’ Equity 1. Supplies Expense 1. Increase 1. Debit
2. Liability 2. Accounts Payable 2. Increase 2. Credit
TRANSACTION ACCOUNTS AFFECTED TYPE OF ACCOUNTS INCREASE OR DECREASE DEBIT OR CREDIT
NO. (A,L,OE) (SPECIFIC ACCOUNT TITLE)

May 21 1.Asset 1. Cash 1. Increase 1. Debit

2. Asset 2. Accounts Receivable 2. Decrease 2. Credit

May 24 1. Liability 1. Accounts Payable 1. Decrease 1. Debit

2. Asset 2. Cash 2. Decrease 2. Credit

May 25 1. Owners’ Equity 1. Wage Expense 1. Increase 1. Debit

2. Asset 2. Cash 2. decrease 2. Credit
May 28 1. Asset 1. Cash 1. Increase 1. Debit
2. Asset 2. Accounts receivable 2. Decrease 2. credit
May 29 1. Asset 1. Cash 1. Increase 1. Debit
2. Owners’ Equity 2. Service Revenue 2. Increase 2. Credit
May 30 1. Owners’ Equity 1. Rent Expense 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit
May 31 1. Owners’ Equity 1. Wage Expense 1. Increase 1. Debit
2. Asset 2. Cash 2. Decrease 2. Credit

3.

May 06 Cash P100,000

Antonio’s Capital P100,000

To Invest cash in the business.

May 07 NO ENTRY

May 08 Equipment 30,000

Cash 30,000

To pay cash for the repair equipment worth P30,000

May 09 Prepaid Supplies 2,000

Cash 2,000

To pay cash for repair supplies bought from U-save Trading worth P2,000
May 10 NO ENTRY

May 11 NO ENTRY

May 13 Cash 1,000

Service Revenue 1,000

Receive cash from Mr. Alejo for service rendered.

May 14 NO ENTRY

May 15 Accounts Receivable 3,500

Service Revenue 3,5000

To receive cash from Quality Gravel and Sand for service rendered.

May 17 Equipment 9,000

Cash 9,000

To receive tools ordered from Timog Machinne Tools and paid cash.

May 18 Wages Expense 3,600

Cash 3,600

To pay in cash the wages of the helpers for the week.

May 20 Supplies Expense 2,000

Accounts Payable 2,000

Purchased supplies on account.

May 21 Cash 2,000

Accounts Receivable 2,000

To receive cash for service rendered to Quality Gravel and Sand.

May 22 NO ENTRY

May 24 Accounts Payable 4,000

Cash 4,000

To pay in full the account with U-save trading.

May 25 Wage Expense 960

Cash 960
 To pay in cash the wages of shop helper.

May 28 Cash 1,000

Accounts receivable 1,000

To collect cash from the balance of Quality gravel and Sand’s account.

May 29 Cash 5,500

Service Revenue 5,500

To receive cash for service rendered.

May 30 Rent Expense 4,000

Cash 4,000

To pay in cash the rent for the month.

May 31 Wage Expense 4,000

Cash 4,000

To pay 2/3 wage of chief mechanic monthly salary.

Item 2

TRANSACTIO ACCOUNTS AFFECTED TYPE OF ACCOUNTS INCREASE OR DECREASE DEBIT OR CREDIT

N NO. (A,L,OE) (SPECIFIC ACCOUNT TITLE)
1. August 13, 1. Liability 1. Accounts Payable 1. Decrease 1. Debit
2020 2. Asset 2. Cash 2. Decrease 2. Credit

2. August 16, 1. Owners’ equity 1. A. Rapanut’s Drawings 1. Decrease 1. Debit

2020 2. Cash 2. Cash 2. Decrease 2. Credit

3. August 20, 1. Asset 1. Miscellaneous 1. Increase 1. Debit

2020 2. Asset 2. Cash 2. Decrease 2. Credit

4. September 1. Owners’ Equity 1. Supplies Expense 1. Increase 1. Debit

6, 2020 2. Asset 2. Cash 2. Decrease 2. Credit

5. September 1. Liability 1. Utilities Payable 1. Increase 1. Debit

14,2020 2. Owners’ Equity 2. Utilities Expense 2. Decrease 2. Credit