Tony Go

GENERAL JOURNAL

Date
Account Titles and Explanation P.R.
Sep-01 Cash
Tony Go, Capital
To record the investment of Tony Go

1 Transportation Equipment
Cash
To record the acquisition of transportation equipment

1 Prepaid Rent
Cash
To record the prepaid rent

2 Cash
Notes Payable
To record the issuance of promissory note in exchange of cash

2 No entry

2 No entry

4 Prepaid Insurance
Cash
To record the prepaid insurance

5 Office Equipment
Cash
Accounts Payable
To record the acquisition of office equipment

8 Art Supplies
Accounts Payable
To record the purchase of arts supplies

10 Accounts Payable
Cash
To record payment to Enriquez Art Supplies

11 Cash
Service Revenue
To record the service revenue

15 Salaries Expense
Cash
To record the salaries paid

17 Cash
Service Revenue
To record the service revenue
21 Accounts Receivable
Service Revenue
To record the service revenue on account

23 Tony Go, Drawings

Cash
To record the withdrawals of Tony Go

23 Utilities Expense
Utilities Payable
To record the utilities billed

25 Cash
Accounts Receivable
To record the collection of receivable

30 Utilities Expense
Cash
To record the utilities paid

Balance
 GJ-1

Debit Credit
500,000
500,000

300,000
300,000

30,000
30,000

200,000
200,000

18,000
18,000

50,000
20,000
30,000

12,000
12,000

5,000
5,000

200,000
200,000

2,500
2,500

250,000
250,000
 150,000
150,000

30,000
30,000

900
900

100,000
100,000

4,000
4,000

1,852,400 1,852,400
 Cash Accounts Receivable Transportation Equipment
500,000.00 300,000.00 150,000.00 100,000.00 300,000.00
200,000.00 30,000.00
200,000.00 18,000.00
250,000.00 20,000.00
100,000.00 5,000.00
2,500.00
30,000.00
4,000.00

840,500.00 50,000.00 300,000.00

Prepaid Rent Prepaid Insurance Accounts Payable

30,000.00 18,000.00 5,000.00

30,000.00 18,000.00

Tony Go, Capital Tony Go, Drawings Service Income

500,000.00 30,000.00

500,000.00 30,000.00
ansportation Equipment Office Equipment Art Supplies
50,000.00 12,000.00

50,000.00 12,000.00

Accounts Payable Notes Payable Utitlites Payable

30,000.00 200,000.00 900.00
12,000.00

37,000.00 200,000.00 900.00

ice Income Utilities Expense Salaries Expense

200,000.00 900.00 2,500.00
250,000.00 4,000.00
150,000.00

600,000.00 4,900.00 2,500.00

 Tony Art Gallery
Unadjusted Trial Balance
For the month ended September 30

Account Title Debit Credit

Cash 840,500.00
Accounts Receivable 50,000.00
Transportation Equipment 300,000.00
Office Equipment 50,000.00
Art Supplies 12,000.00
Prepaid Rent 30,000.00
Prepaid Insurance 18,000.00
Accounts Payable 37,000.00
Notes payable 200,000.00
Utitlites Payable 900.00
Tony Go, Capital 500,000.00
Tony Go, Drawings 30,000.00
Service Income 600,000.00
Utilities Expense 4,900.00
Salaries Expense 2,500.00
Total ₱ 1,337,900.00 ₱ 1,337,900.00
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