REQUIREMENT 1

Ace Barbershop
GENERAL JOURNAL

Date
PARTICULARS

Feb-01 Cash
Ace, Capital

2 Furniture andFixture
Accounts Payable

5 Supplies
Cash

7 Cash
Service Revenue

8 Accounts Receivable
Service Revenue

10 Advertising Expense
Cash

15 Commission Expense
Cash

20 Cash
Service Revenue

21 Rent expense
Cash
24 Accounts Payable
Cash

25 Service Income
Accounts Receivable

Cash
Accounts Receivable

28 Utilities Expense
Cash

29 Ace, Drawings
Cash
 Ace Barbershop
GENERAL JOURNAL

PARTICULARS P.R.

Ace, Capital
To record the investment of the owner

Furniture andFixture
Accounts Payable
To record the furnitures and fixtures bought on account

Cash
To record the supplies purchased

Service Revenue
To record the service rendered for cash

Accounts Receivable
Service Revenue
To record the service rendered on account

Advertising Expense
Cash
To record the advertising paid

Commission Expense
Cash
To record the commissions paid

Service Revenue
To record the service rendered for cash

Rent expense
Cash
To record the rent paid
Accounts Payable
Cash
To record the accounts paid

Service Income
Accounts Receivable

Accounts Receivable

Utilities Expense
Cash
To record the utilities paid

Ace, Drawings
Cash
To record the drawings of the owner

Balance
 Requirement 2
GJ-1

GEN
Debit Credit

₱ 300,000.00
₱ 300,000.00 Date
Feb-01
5-Feb
₱ 200,000.00 Feb-07
₱ 200,000.00 10-Feb
Feb-15
20-Feb
₱ 30,000.00 Feb-21
₱ 30,000.00 24-Feb
Feb-25
Feb-28
₱ 20,000.00 Feb-29
₱ 20,000.00

Account: Accounts Receivable

₱ 30,000.00 Date
₱ 30,000.00 8-Feb
Feb-25
Feb-25
₱ 10,000.00
₱ 10,000.00
Date
5-Feb
₱ 10,000.00
₱ 10,000.00

₱ 25,000.00
₱ 25,000.00
Account: Furnitures and Fixtures
Date
₱ 15,000.00 2-Feb
₱ 15,000.00
₱ 50,000.00
₱ 50,000.00

GENERAL
₱ 5,000.00
₱ 5,000.00
Date
₱ 25,000.00 2-Feb
₱ 25,000.00 24-Feb

₱ 8,000.00
₱ 8,000.00
Date
Feb-01
₱ 10,000.00
₱ 10,000.00

Date
Feb-29
₱ 738,000.00 ₱ 738,000.00

GENERAL L

Date
Feb-07
8-Feb
20-Feb
Feb-25

Date
Feb-21
 Date
Feb-28

Account: Advertising Expense

Date
10-Feb

Account: Commission Expense

Date
Feb-15
quirement 2

Ace Barbershop

GENERAL LEDGERS FOR ASSETS

Account: Cash No.

Particular JR Debit (+) Credit (-)
Investment of the owner 300,000
Supplies purchased 30,000
Service rendered 20,000
Advertising paid 10,000
commissions paid 10,000
Service rendered 25,000
Paid rent 15,000
Accounts paid 50,000
Collection of Receivable 25,000
Utilities paid 8,000
Drawings 10,000

Account: Accounts Receivable No.

Particular JR Debit (+) Credit (-)
Service rendered 30,000
Dispute 5,000
Collection of Receivable 25,000

Account: Supplies No.

Particular JR Debit (+) Credit (-)
Supplies purchased 30,000

Account: Furnitures and Fixtures No.

Particular JR Debit (+) Credit (-)
Furnitures and fixtures bought 200,000
 GENERAL LEDGERS FOR LIABILITIES & EQUITY

Account: Accounts Payable No.

Explanation JR Debit (-) Credit (+)
Furnitures and fixtures bought 200,000
Accounts paid 50,000

Account: Ace, Capital No.

Explanation JR Debit (-) Credit (+)
Investment of the owner 300,000

Account: Ace, Withdrawals No.

Particular JR Debit (+) Credit (-)
Drawings 10,000

GENERAL LEDGER FOR REVENUE AND EXPENSES

Service Revenues No.

Explanation JR Debit (-) Credit (+)
Service rendered 20,000
Service rendered 30,000
Service rendered 25,000
Dispute 5,000

Account: Rent Expense No.

Particular JR Debit (+) Credit (-)
Paid rent 15,000

Account: Utilities Expense No.

 Particular JR Debit (+) Credit (-)
Utilities paid 8,000

Account: Advertising Expense No.

Particular JR Debit (+) Credit (-)
Advertising paid 10,000

Account: Commission Expense No.

Particular JR Debit (+) Credit (-)
commissions paid 10,000
 Requirement 3
Ace Barbershop
Unadjusted Trial Balance
February 28, 2018

Particulars
Cash
Accounts Receivable
BALANCE Supplies
300,000 Furnitures and Fixtures
270,000 Accounts Payable
290,000 Ace, Capital
280,000 Ace, Drawings
270,000 Service Revenues
295,000 Rent Expense
280,000 Utilities Expense
230,000 Advertising Expense
255,000 Commissions Expense
247,000 Totals
237,000

BALANCE
30,000
25,000
-

BALANCE
30,000

BALANCE
200,000
BALANCE
200,000
150,000
150,000

BALANCE
300,000

BALANCE
10,000

BALANCE
20,000
50,000
75,000
70,000

BALANCE
15,000
BALANCE
8,000

BALANCE
10,000

BALANCE
10,000
rbershop
Trial Balance
y 28, 2018

Debit Credit
237,000.00
-
30,000.00
200,000.00
150,000.00
300,000.00
10,000.00
70,000.00
15,000.00
8,000.00
10,000.00
10,000.00
₱ 520,000.00 ₱ 520,000.00