1) The document records transactions from January 1 to January 31, 2021 for JEAH KRISTEL M. CABATA including purchases of supplies, furniture, and a sewing machine.
2) It records cash receipts from services and notes receivable, as well as cash payments for rent, salaries, and withdrawals.
3) Journal entries are made to record these transactions and update the balances of accounts such as cash, supplies, fixed assets, payables, revenues and expenses.
1) The document records transactions from January 1 to January 31, 2021 for JEAH KRISTEL M. CABATA including purchases of supplies, furniture, and a sewing machine.
2) It records cash receipts from services and notes receivable, as well as cash payments for rent, salaries, and withdrawals.
3) Journal entries are made to record these transactions and update the balances of accounts such as cash, supplies, fixed assets, payables, revenues and expenses.
1) The document records transactions from January 1 to January 31, 2021 for JEAH KRISTEL M. CABATA including purchases of supplies, furniture, and a sewing machine.
2) It records cash receipts from services and notes receivable, as well as cash payments for rent, salaries, and withdrawals.
3) Journal entries are made to record these transactions and update the balances of accounts such as cash, supplies, fixed assets, payables, revenues and expenses.
Date 101 P80,000 2021 Cash 103 20,000 1-Jan Sewing Machine 301 P100,00 Cardo Capital To record Capital Furniture 103 10,000 3 Cash 101 10,000
To record purchased furniture
Supplies 103 3,000
5 Cash 101 3,000 To record purchased supplies
Rent Expense 501 2,000
7 Cash 101 2,000 To record payment of rent
Sewing Machine 103 30,000
8 Accounts Payable 201 20,000 Cash 101 10,000 To record the purchased of Sewing Machine
Salaries Expense 501 1,908
15 SSS Payable 201 66 Medicare 201 12 Witholding Tax payable 201 14 Cash 2,000 To record payment for semi-monthly pay roll and benefits
Cash 101 15,000
15 Service Revenue 401 15,000 To record rceived cash for service rendered
Notes Receivable 510 5,000
20 Service Revenue 401 5,000 To record a note sent to Customer
Notes Receivable 510 5,000
22 Service Revenue 401 5,000 To Record service rendered Suplies 103 500 27 Cash 101 500 To record purchased supplies
Salaries Expense 521 1,908
31 SSS payable 201 66 Medicare 201 12 Witholding tax payable 201 14 Cash 101 2,000 To record payment for semi-montly pay roll and benefits
Mr. Cardo, Withdrawal 301 500
31 Cash 101 500 To record Mr. Cardo, Withdrawals General Ledger Account Name: Cash Account No. 101 Date Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 1-Jan To record investment J-1 P 80,000 3 To record purchased furniture J-1 P 10,000 P 70,000 5 To record purchased supplies J-1 3,000 67,000 7 To record payment rent J-1 2,000 65,000 8 To record partial payment for sewing machine J-1 10,000 55,000 15 To record payment for semi-monthly payroll and benefits J-1 2,000 53,000 27 To record rerceived payment for service rendered J-1 15,000 68,000 31 To record purchased supplies J-1 500 67,500 31 To record payment for semi-monthly payroll and benefits J-1 2,000 65,500 To record Mr. Cardo, Withdrawals 500 P 65,000
Account Name: Notes Receivable Account No. 510
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 20-Jan To record sen note receivable J-1 P 5,000 P 5,000 22 To record service rendered J-1 5,000 P 10,000
Account Name: Supplies Account No. 103
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 5-Jan To record purchased supplies J-1 P 3,000 P 3,000 27 To record purchased supplies J-1 500 P 3,500
Account Name: Sewing Machine Account No. 103
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 1-Jan To record investment J-1 P 20,000 P 20,000 8 to record the purchased of sewing machine J-1 30,000 P 50,000
Account Name: Furniture Account No. 103
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 3-Jan To record purchased Furniture J-1 P 10,000 P 10,000
Account Name:Accounts Payable Account No. 201
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 8-Jan To record the six monthly installment J-1 P 20,000 P 20,000
Account Name:SSS Benefits Payable Account No. 201
DATE Account Titles and Explanation J.R DEBIT CREDIT Balance 2021 15-Jan To record the six monthly payroll and benfits J-1 P 66 31 To record the six monthly payroll and benfits J-1 66 P 132
Account Name: Medicare Account No. 201
DATE Accounts Titles and Explanation J.R DEBIT CREDIT Balance 2021 15-Jan To record the six monthly payroll and benfits J-1 P 12 P 12 31 To record the six monthly payroll and benfits J-1 12 P 24
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 15-Jan To record the six monthly installment pay roll and benefits J-1 P 14 31 To record the six monthly installment pay roll and benefits J-1 14 P 28
Account Name: Mr. Cardo, Capital Account No: 201
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 1-Jan To record Installment J-1 P 100,000 P 100,000
Account Name: Mr. Cardo, Withdrawal Account No: 201
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 1-Jan To record Mr. Cardo, Withdrawal J-1 P 500 P 500
Account Name: Service Revenue Account No: 401
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 15-Jan To record received cash for service rendered J-1 P 15,000 P 15,000 20 To recored a note sent to a customer J-1 5,000 5,000 22 To record service rendered J-1 5,000 P 25,000
Account Name: Salaries Expense Account No: 201
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 15-Jan To record payment for semi-monthly payroll and beefits J-1 P 1,908 P 1,908 31 To record payment for semi-monthly payroll and beefits J-1 1,908 P 3,816
Account Name: Rent Expense Account No: 201
DATE Accounts Titles and Explanation J.R Debit Credit Balance 2021 7-Jan To record payment for rent J-1 P 2000 P 2,000 P 132
P 12 P 24
P 28
P 100,000
P 15,000
P 25,000 CARDO Tailoring Shop Trial Balance January 31,2021
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