GEORGINA RIOS MEN'S WEAR SHOP

GENERAL JOURNAL
FOR THE MONTH OF DECEMBER 2021

DATE DESCRIPTION
December 1 Cash
G. Rios, Capital
- Invested cash in the business.

1 Sewing Machine
Cash
Accounts Payable- Harrizon Trading
- Bought two sewing machines.

1 Prepaid Rent
Cash
- Paid a three-month rental of the shop.

1 Insurance Expense
Cash
- Paid a one-year insurance policy.

3 Sewing Tools
Sewing Supplies
Accounts Payable - Harrizon Trading
- Bought sewing tools and sewing supplies from Harrizong trading on credit.

5 Cash
Service Income
- Received cash from a customer for a terno delivered.

7 Accounts Receivable - Kea Young

Service Income
- Billed Kea Young, for a two-pair of pants and polo barong delivered.

10 Clothing Materials
Cash
- Purchased clothing materials from Divisoria Market

13 Cash
Service Income
- Received cash from various customers for pants and barong delivered.
 DATE DESCRIPTION
December 14 Accounts Payable - Harrizon Trading
Cash
Notes Payable
- Gave Harrizon Trading cash and issued a 60 day.

15 Wages
Cash
- Paid the wages of the shop helper.

17 G. Rios, Personal
Cash
- G. Rios withdrew cash from the business for personal use.

18 Cash
Accounts Receivable - Kea Young
- Kea Young gave cash as a partial payment of her account.

20 Cash
Service Income
- Received cash from customer for pants and shirts delivered.

22 Wages
Cash
- Paid the wages of the shop helper.

23 Accounts Receivables - Justine Cho

Service Income
- Billed Justine Cho for barong and pants delivered to him.

27 Utility Expense
Telephone & Communication Expense
Cash
- Paid monthly expenses.
 PAGE NO. 1
PR DEBIT CREDIT DATE
GJ-101 ₱ 8,000.00
GJ-301 ₱ 8,000.00

GJ- 6,000.00
GJ-101 1,500.00
4,500.00

GJ-106 3,000.00
GJ-101 3,000.00

GJ-503 570.00
GJ-101 570.00

GJ-108 590.00
GJ-104 270.00
GJ-202 860.00

GJ-101 120.00
GJ-401 120.00

GJ-102 500.00
GJ-401 500.00

GJ-105 1,500.00
GJ-101 1,500.00

GJ-101 1,250.00
GJ-401 1,250.00
 PAGE NO.2
PR DEBIT CREDIT
GJ-202 ₱ 4,500.00
GJ101 ₱ 1,500.00
GJ-203 3,000.00

GJ-501 250.00
GJ-101 250.00

GJ-302 500.00
GJ-101 500.00

GJ-101 200.00
GJ-102 200.00

GJ-101 1,475.00
GJ-401 1,475.00

GJ-501 250.00
GJ-101 250.00

GJ-103 400.00
GJ-401 400.00

GJ-502 150.00
GJ-504 250.00
GJ-101 400.00
DESCRIPTION PR DEBIT CREDIT
 GEORGINA RIOS MEN'S WEAR SHOP
GENERAL LEDGER
FOR THE MONTH OF DECEMBER 2021

GL-1
DATE DESCRIPTION PR DEBIT DATE DESCRIPTION PR DEBIT
CASH 101
December 1 GJ-1 ₱ 8,000.00 December 1 GJ-1 ₱ 1,500.00
5 GJ-1 120.00 1 GJ-1 3,000.00
13 GJ-1 1250.00 1 GJ-1 570.00
18 GJ-2 200.00 10 GJ-1 1,500.00
20 GJ-2 1,475.00 14 GJ-2 1,500.00
₱ 11,045.00 15 GJ-2 250.00
9,475.00 17 GJ-2 500.00
₱ 1,575.00 22 GJ-2 250.00
27 GJ-2 400.00
₱ 9,470.00
ACCOUNTS RECEIVABLE - KEA YOUNG 102
7 GJ-1 500 18 GJ-2 200
200
₱ 300.00
ACCOUNTS RECEIVABLE - JUSTINE CHO 103
23 GJ-2 ₱ 400.00

SEWING SUPPLIES 104

3 GJ-1 ₱ 270.00

CLOTHING MATERIALS 105

10 GJ-1 ₱ 1,500.00

PREPAID RENT 106

2 GJ-1 ₱ 3,000.00

SEWING TOOLS 108

3 GJ-1 ₱ 590.00
 ACCOUNTS PAYABLE - HARRIZON TRADING 201
3 GJ-1 ₱ 860.00

NOTES PAYABLE 203

14 GJ-2 ₱ 3,000.00

G. RIOS, CAPITAL 301

1 GJ-1 ₱ 8,000.00

G. RIOS, PERSONAL 302

17 GJ-2 ₱ 500.00

WAGES 501
15 GJ-2 250.00
22 GJ-2 250.00
₱ 500.00

UTILITY EXPENSE 502

27 GJ-2 ₱ 150.00

INSURANCE EXPENSE 503

1 GJ-1 ₱ 570.00

TELEPHONE AND COMMUNICATION EXPENSES 504

27 GJ-2 ₱ 250.00

SERVICE INCOME 401

5 GJ-1 120.00
7 GJ-1 500.00
13 GJ-1 1,250.00
20 GJ-2 1,475.00
23 GJ-2 400.00
₱ 3,745.00
 GEORGINA RIOS MEN'S WEAR SHOP
TRIAL BALANCE
FOR THE MONTH ENEDED DECEMBER 27, 2021

ACCOUNT NO. ACCOUNT TITLE DEBIT CREDIT

101 Cash 1,575.00

102 Accounts Receivable - Kea Young 300
103 Accounts Receivable - Justine Cho 400
104 Sewing Supplies 270
105 Clothing Materials 1,500.00
106 Sewing Tools 590
107 Prepaid Rent 3,000.00
108 Sewing Equipment 6,000.00
202 Account Payable - Harrizon Trading 860
203 Notes Payable 3,000.00
301 G. Rios, Capital 8,000.00
302 G. Rios, Personal 500
502 Wages 500
503 Utility Expense 150
504 Insurance Expense 570
505 Telephone and Communication Expense 250
401 Service Income 3,745.00
TOTAL: 15,605.00 15,605.00
 GEORGINA RIOS MEN'S WEA SHOP
INCOME STATEMENT
FOR THE MONTH ENDED, DECEMBER 27, 2021

Revenue:
Service Income ₱ 3,745.00

Less:
Operating Expenses:
Wages 500.00
Utility Expense 150.00
Insurance Expense 47.50
Telephone and Communication Expense 250.00
Sewing Supplies Used 100.00
Clothing Materials Used 800.00
Rent Expense 1000.00
Depreciation- Sewing Equipment 100.00
Bad Debts 35.00
7.50
Total: ₱ 2,990.00
Net Profit: ₱ 755.00
 GEORGINA RIOS MEN'S WEAR SHOP
STATEMENT OF FINANCIAL POSITION
AS OF DECEMBER 27,2018

ASSETS:
Current Assets:
Cash ₱ 1,575.00
A.R. - Kea Young 300
A.R. - Justine Cho 400
Total Receivables: 700
Less: Estimated Uncollectable Accounts 35
Sewing Supplies 665
Clothing Materials 170
Prepaid Rent 700
Prepaid Insurance 2,000
Total Current Assets: 522.5
₱ 5,632.50

PROPERTIES AND EQUIPMENT

Sewing Tools 590
Sewing Equipment 6,000.00
Less: Accumulated Depreciation 100 5,900
Total Properties and Equipments: 6,490.00
Total Assets: ₱ 12,122.50