Wengelyn H.

Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

Date Accounts Title Debit Credit

April 1 Cash 67,000
Omotot's Capital 67,000
To record owner's contribution

April 2 Equipment - Service Vehicle 81,000

Cash 17,500
Notes Payable 63,500
To record purchase of equipment

April 3 Rent Expense 7,150

Cash 7,150
To record rent expense

April 6 Plumbing Supplies 15,700

Cash 15,700
To record purchase of plubing supplies

April 7 Prepaid Advertising 6,000

Cash 6,000
To record prepaid expense

April 8 Cash 18,350

Plumbing revenue 18,350
To record plumbing revenue

April 9 Plumbing Supplies 8,050

Cash 8,050
To record Purchase of plumbing supplies

April 11 Salaries Expense 11,600

Cash 11,600
To record salaries expense

April 15 Cash 42,200

Accounts Receivable 42,200
To record accounts receivable

April 16 Plumbing Supplies 5,700

Cash 5,700
To record purchase of plumbing supplies
April 19 Miscellaneous Expense 4,300
Cash 4,300
To record miscellaneous expense

April 20 Cash 21,000

Accounts Receivable 21,000
To record accounts receivable

April 21 Omotot's Capital 14,500

Omotot's withdrawal 14,500
To record owners withdrawal

April 22 Salaries expense 14,100

Cash 14,100
To record salaries expense

April 24 Notes Payable 3,850

Cash 3,850

April 25 Telephone Expense 1,250

Cash 1,250

April 27 Cash 14,150

Accounts Receivable 14,150
Wengelyn H. Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

ASSETS

Cash Equipment
Date Debit Credit Date Debit Credit
April 1 67,000 April 2 81,000
April 2 17500 Balance 81,000
April 3 7150
April 6 15700 Rent Expense
April 7 6000 Date Debit Credit
April 8 18,350 April 3 7,150
April 9 8050 Balance 7,150
April 11 11600
April 15 42,200 Salaries Expense
April 16 5700 Date Debit Credit
April 19 4300 April 11 11,600
April 20 21,000 April 22 14,100
April 22 14100 Balance 25,700
April 24 3850
April 25 1250 Telephone Expense
April 27 14,150 Date Debit Credit
Balance 67,500 April 25 1,250
Balance 1,250

Plumbing Supplies Prepaid Advetising

Date Debit Credit Date Debit Credit
April 6 15,700 April 7 6,000
April 9 8,050 Balance 6,000
April 16 5,700
Balance 29,450

Miscellaneous Expense
Date Debit Credit
April 19 4,300
Balance 4,300
Wengelyn H. Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

EQUITY

Notes Payable Plumbing Revenue

Date Debit Credit Date Debit Credit
April 2 63,500 April 7 18,350
April 24 3,850 Balance 18,350
Balance 59,650

Accounts Receivable
Omotot, Capital Date Debit Credit
Date Debit Credit April 15 42,200
April 1 67,000 April 20 21,000
April 21 14,500 April 27 14,150
Balance 52,500 Balance 21,000

Omotot Withdrawal
Date Debit Credit
April 21 14,500
Balance 14,500
Wengelyn H. Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

Alabang Plumbing Services

Trial Balance
April 1, 2021

Accounts Debit Credit

Cash 67,500
Accounts Receivable 77,350
Notes Payable 59,650
Omotot Capital 52,500
Omotot Withdrawal 14,500
Plumbing Revenue 18,350
Equipment - Service Vehicle 81,000
Micellaneous Expense 4,300
Plumbing Supplies 29,450
Prepaid Advertising 6,000
Rent Expense 7,150
Salaries Expense 25,700
Telephone Expense 1,250
Total 222,350 222,350
Wengelyn H. Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

a. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021

b. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021

c. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021

d. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021
e. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021

f. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021

g. Transaction Analysis
Accounts Affected
Effects on Account
Debit/Credit
Adjusting Journal Entry
December 31, 2021
 Midterm Activity

"Prepaid Insurance" (expense) and Cash (Asset)

"Prepaid Insurance" is Increase and "Cash" is decrease
Expense is increase through debit and Asset is decrease through credit.

Prepaid Insurance 24,000

Cash 24,000
To record Prepaid Insurance Expense

"Cash" (Asset) and "Notes Payable" (Liability)

"Cash" is increase and "Notes Payable" is increase
Asset is increase through debit and Liability is increase through credit

Cash 160,000
Notes Payable 160,000
To record Notes Payable

"Delivery Vehicle" (expense) and "Cash" (Asset)

"Expense" is increase and "Cash" is decrease
Expense is increase through debit and Asset decrease through credit

Delivery van - Expense 160,000

Cash 160,000
To record Purchase Expense

"Accounts Receivable" (Liability) and "Contract Revenue" (Income)

"Accounts receivable" is decrease and Contract Revenue is increase
Liability is decrease through debit and Income Increase through credit
Accounts Receivable 18,000
Contract Revenue 18,000
To record Accounts receivable
"supplies" (expense), and cash (asset)
"expense" is increase and "cash" is decrease
Expense is increase through debit and cash in decrease through credit

Supplies Expense 6,400

Cash 6,400
To record supplies expense

"rent expense" (expense) and "cash" (asset)

"rent expense" is increase and "cash" is decrease
expense is increase through debit and asset decrease through credit
Rent Expense 78,000
Cash 78,000
To record rent expense
Wengelyn H. Herminado
BSA I
AE13A - Financial Accounting and Reporting

Midterm Activity

1 b 16 d
2 b 17 b
3 d 18 a
4 c 19 d
5 d 20 c
6 c 21 b
7 c 22 c
8 d 23 b
9 a 24 c
10 a 25 b
11 b 26 c
12 d 27 d
13 d 28 a
14 c 29 d
15 a 30 b