Date AS

Cash Accounts Receivable Equipment

Sep-01 ₱ 300,000.00
Sep-02 ₱ 50,000.00 ₱ 50,000.00
Sep-04
Sep-07 ₱ 10,000.00
Sep-09 ₱ 9,000.00
Sep-15 ₱ 12,000.00 ₱ 5,000.00
Sep-17 ₱ 8,500.00
Sep-19 ₱ 20,000.00
Sep-25 ₱ 2,500.00 ₱ 2,500.00
Sep-30 ₱ 12,000.00

₱ 205,000.00 ₱ 2,500.00 ₱ 50,000.00

₱ 337,500.00
 ASSETS

Service Vehicle Furniture and Fixtures

₱ 50,000.00
₱ 30,000.00

₱ 50,000.00 ₱ 30,000.00
 = LIABILITIES +

Accounts Payable

₱ 50,000.00
₱ 20,000.00

₱ 20,000.00

₱ 50,000.00

₱ 50,000.00

₱ 337,500.00 ₱ 337,500.00
 OWNER'S EQUITY (+) REVENUE (-) EXPENSES

Puring, Capital Permits and Licensing

₱ 300,000.00

₱ 9,000.00
₱ 17,000.00

₱ 300,000.00 ₱ 17,000.00

₱ 287,500.00
 (-) EXPENSES

Advertising Expense Salaries Expense

₱ 8,500.00

₱ 12,000.00

₱ 29,500.00
 CASH ACCOUNTS RECEIVABLE

Debit Credit
₱ 300,000.00 ₱ 50,000.00
₱ 12,000.00 ₱ 10,000.00
₱ 2,500.00 ₱ 9,000.00
₱ 8,500.00
₱ 20,000.00
₱ 12,000.00

₱ 314,500.00 ₱ 109,500.00

₱ 205,000.00

LAND BUILDING

ACCOUNTS PAYABLE NOTES PAYABLE

 CAPITAL WITHDRAWALS

UTILITIES EXPENSE SALARIES EXPENSE

ALLOWANCE FOR UNCOLLECTIBLE
NOTES RECEIVABLE
ACCOUNTS

SERVICE VEHICLE EQUIPMENT

MORTGAGE PAYABLE
 REVENUES

ADVERTISING EXPENSE TELECOMMUNICATIONS EXPENSE

 PREPAID EXPENSE

FURNITURE AND FIXTURES

RENT EXPENSE
 PURING COMPANY
GENERAL JOURNAL
For the month ended September 30, 2020

DATE ACCOUNT TITLES AND EXPLANATION REF DEBIT

Sep 1 Cash 101 ₱ 300,000.00
Puring, Capital 301
Invested cash in the name of the business

Sep 2 Equipment 110 ₱ 50,000.00

Cash 101
Purchased equipment for cash

Sep 4 Service Vehicle 111 ₱ 50,000.00

Accounts Payable 201
Acquired service vehicle for credit

Sep 7 Furniture and Fixtures 112 ₱ 30,000.00

Cash 101
Accounts Payable 201
Bought F & F with partial payment

Sep 9 Permits and Licenses Expense 501 ₱ 9,000.00

Cash 101
Paid expenses for business permit

Sep 15 Cash 101 ₱ 12,000.00

Accounts Receivable 105 ₱ 5,000.00
Service Revenue 401
Received partial payments on services rendered
and the balance on account

Sep 17 Advertising Expense 502 ₱ 8,500.00

Cash 101
Paid expenses for advertisement

Sep 19 Accounts Payable 201 ₱ 20,000.00

Cash 101
Paid accounts on credit

Sep 25 Cash 101 ₱ 2,500.00

Accounts Receivable 401
Collected payment from customers Sep 15

Sep 30 Salaries Expense 503 ₱ 12,000.00

 Cash 101
Paid employees
 CREDIT

₱ 300,000.00

₱ 50,000.00

₱ 50,000.00

₱ 10,000.00
₱ 20,000.00

₱ 9,000.00

₱ 17,000.00

₱ 8,500.00

₱ 20,000.00

₱ 2,500.00
₱ 12,000.00
 PURING COMPANY
LEDGER
For the month ended September 30, 2020

101 CASH

Date Explanation Ref Debit

Sep 1 Capital investment by the owner GJ-1 ₱ 300,000.00
2 Purchase of equipment GJ-1
7 Bought furniture GJ-1
9 Paid cash for business permit GJ-1
15 Partial payment of services rendered GJ-1 ₱ 12,000.00
17 Payment of advertisement GJ-1
19 Payment of accounts on credit GJ-1
25 Collected cash from the credit revenue GJ-1 ₱ 2,500.00
30 Payment to employees GJ-1

105 ACCOUNTS RECEIVABLE

Date Explanation Ref Debit
Sep 15 Rendered services with partial on credit GJ-1 ₱ 5,000.00
25 Collected half of the credit revenue GJ-1

110 EQUIPMENT
Date Explanation Ref Debit
Sep 2 Purchase of equipment GJ-1 ₱ 50,000.00

111 SERVICE VEHICLE

Date Explanation Ref Debit
Sep 4 Acquisition of service vehicle GJ-1 ₱ 50,000.00

112 FURNITURE AND FIXTURES

Date Explanation Ref Debit
Sep 7 Purchase of furniture and fixtures GJ-1 ₱ 30,000.00

201 ACCOUNTS PAYABLE

Date Explanation Ref Debit
Sep 4 Acquisition of service vehicle GJ-1
7 Purchase of furniture and fixtures GJ-1
19 Payment of purchases made on Sep 7 GJ-1 ₱ 20,000.00

301 PURING, CAPITAL

Date Explanation Ref Debit
Sep 1 Capital investment of the owner GJ-1

401 SERVICE REVENUE

Date Explanation Ref Debit
Sep 15 Services rendered to customer GJ-1

501 PERMITS AND LICENSES EXPENSE

Date Explanation Ref Debit
Sep 9 Payment of business permit GJ-1 ₱ 9,000.00

502 ADVERTISING EXPENSE

Date Explanation Ref Debit
Sep 7 Payment of advertisement GJ-1 ₱ 8,500.00

503 SALARIES EXPENSE

Date Explanation Ref Debit
Sep 30 Payment to employees GJ-1 ₱ 12,000.00
0, 2020

Credit Balance
₱ 300,000.00
₱ 50,000.00 ₱ 250,000.00
₱ 10,000.00 ₱ 240,000.00
₱ 9,000.00 ₱ 231,000.00
₱ 243,000.00
₱ 8,500.00 ₱ 234,500.00
₱ 20,000.00 ₱ 214,500.00
₱ 217,000.00
₱ 12,000.00 ₱ 205,000.00

Credit Balance
₱ 5,000.00
₱ 2,500.00 ₱ 2,500.00

Credit Balance
₱ 50,000.00

Credit Balance
₱ 50,000.00

Credit Balance
₱ 30,000.00

Credit Balance
₱ 50,000.00 ₱ 50,000.00
₱ 20,000.00 ₱ 70,000.00
₱ 50,000.00

Credit Balance
₱ 300,000.00 ₱ 300,000.00
 Credit Balance
₱ 17,000.00 ₱ 17,000.00

Credit Balance
₱ 9,000.00

Credit Balance
₱ 8,500.00

Credit Balance
₱ 12,000.00
 PURING CAPITAL
TRIAL BALANCE
For the month ended September 30, 2020

PARTICULARS REF DEBIT CREDIT

Cash 101 ₱ 205,000.00
Accounts Receivable 105 ₱ 2,500.00
Equipment 110 ₱ 50,000.00
Service Vehicle 111 ₱ 50,000.00
Furniture and Fixtures 112 ₱ 30,000.00
Accounts Payable 201 ₱ 50,000.00
Puring, Capital 301 ₱ 300,000.00
Service Revenue 401 ₱ 17,000.00
Permits and Licenses Expense 501 ₱ 9,000.00
Advertising Expense 502 ₱ 8,500.00
Salaries Expense 503 ₱ 12,000.00

Total ₱ 367,000.00 ₱ 367,000.00

 Assets Liabilities Equity
1 +1000 +1000
2 +2000 +2000
3 +3000
-3000
4 -4000 -4000
5 -5000 -5000
6 +6000 +6000
-4000 -4000