Activity Title: SIMPLE BOOKKEEPING (JOURNALIZING ENTRIES UP TO TRIAL BALANCE)

Learning Target:

a) Performs key bookkeeping tasks

Select a transaction for T Carter, an interior decorator firm, for the first month of business are as
follows:

2018

Jan. 2 Deposited P50,000 cash to start the business.

3 Paid P5,000 Cash for advertising and P1,000 for rent.
9 Purchased equipment for P7,000 cash
11 Billed customers P2,300 for services performed.
16 Purchased supplies on account for P700.
20 Received P1,100 cash from customer billed on Jan. 11.
23 Paid creditor P400 cash on balance owed.
28 Withdrew P1,200 for food spent in entertaining friends.

Chart of Accounts:
Account No. Account Title
101 Cash
102 Accounts Receivable
103 Supplies
104 Equipment
201 Accounts Payable
301 T, Carter, Capital
302 T, Carter, Drawing
401 Service Income
501 Advertising Expense
502 Rent Expense
GENERAL JOURNAL

DATE TRANSACTION PR AMOUNT

Jan 2 Cash 101 50,000
T, Carter, Capital 301 50,000

3 Advertising Expense 501 5,000

Rent Expense 502 1,000
Cash 101 6,000

9 Equipment 104 7,000

Cash 101 7,000
11 Accounts Receivable 102 2,300
Service Income 401 2,300

16 Supplies 103 700

Accounts Payable 201 700

20 Cash 101 1,100

Accounts Receivable 102 1,100

23 Accounts Payable 201 400

Cash 101 400

28 Cash 101 1,200

T, Carter, Drawing 302 1,200
T ACCOUNTS

Cash 101 Accounts Receivable 102

Jan 2 50,000 6,000 Jan 3 Jan 11 2,300 1,100 Jan 20

Jan 20 1,100 7,000 Jan 9
Jan 28 1,200 400 Jan 23 1,200

52,300 13,400

38,900

Supplies 103 Equipment 104

Jan 16 700 Jan 9 7,000

Accounts Payable 201 T, Carter, Capital 301

Jan 23 400 700 Jan 16 50,000 Jan 2

300

T, Carter, Drawing 302 Service Income 401

1,200 Jan 28 2,300 Jan 11

Advertising Expense 501 Rent Expense 502

Jan 3 5,000 Jan 3 1,000

TRIAL BALANCE

T Carter Interior Decorator Firm

Trial Balance
January 31, 2018

Account Titles Debit Credit

Cash 38,900
Accounts Receivable 1,200
Supplies 700
Equipment 7,000
Accounts Payable 300
T, Carter, Capital 50,000
T, Carter, Drawing 1,200
Service Income 2,300
Advertising Expense 5,000
Rent Expense 1,000

53,800 53,800