General Journal

Date Particulars F Debit Credit

( April)
05 Cash 11 200,000
Timothy, Capital 31 200,000
Initial Investment

06 Rent Expense 53 8,000

Cash 11 8,000
Paid Rent

07 Equipment 16 55,000
Account Payable 22 55,000
Bought Supplies

08 Truck 18 180,000
Cash 11 80,000
Bank Loan Payable 21 100,000
Bought Truck

10 Supplies 13 11,315
Cash 11 11,315
Bought Supplies

12 Cash 11 57,500
Service Fees Earned 41 57,500
Service Income

Supplies Expense 55
Supplies 13
Used Supplies

20 Supplies 13 15,000
Account Payable 22 15,000
Bought supplies on account

23 Accounts Receivable 12 14,950

Service Fees Earned 41 14,950
Service Rendered on Account

Supplies Expense 55 3,500

Supplies 13 3,500
Used Supplies
 05-Apr 200,000 06-Apr 8,000
24 12-Apr
Repairs Expense 57,000 08-Apr
54 80,000
4,500
27-AprCash 11
10,000 10-Apr 11,315 4,500
Paid for car repairs 20-Apr 15,000
25-Apr 1,750
25 Utilities Expense 59
26-Apr 4,500
20,000
Cash 11
28-Apr 5,000 4,500
Paid Utilities 29-Apr 5,000
30-Apr 3,500
26 Bank Loan Payable 267,000 21 20,000
149,565
Cash 117,435 11 20,000
Paid Bank Loan
SUPPLIES
27 Cash 11 10,000
Debit Credit
Accounts Receivable 12 10,000
10-Apr 11,315 12-Apr 8,250
Partial Collection
20-Apr 15,000 23-Apr 3,500
26,315 11,750
28 Salaries Expense 15 5,000
14,565
Cash 11 5,000
Paid Salary
ACCOUNTS RECEIVABLE
29 Debit
Accounts Payable 22 Credit 5,000
23-Apr
Cash 14,950 27-Apr
11 10,000 5,000
Partial Payment 4,950

30 Timothy, Drawing TRUCK 32 3,500

Cash Debit 11 Credit 3,500
08-Apr
Withdrawal 180,000
180,000

EQUIPMENT
Debit Credit
LEDGER 07-Apr 55,000
29-Apr 5,000
CASH
Debit 60,000 Credit
05-Apr 200,000 06-Apr 8,000
12-Apr BANK LOAN
57,000 PAYABLE
08-Apr 80,000
27-Apr Debit 10,000 10-Apr Credit 11,315
26-Apr 20,000 20-Apr
08-Apr 100,000
15,000
25-Apr 80,000
1,750
26-Apr 20,000
ACCOUNTS28-Apr
PAYABLE 5,000
Debit 29-Apr Credit 5,000
07-Apr
30-Apr 55,000
3,500
267,000 55,000
149,565
117,435
SUPPLIES EXPENSE
Debit Credit
12-Apr 8,250
10-Apr
23-Apr 11,315
3,500 12-Apr 8,250
20-Apr 15,000
11,750 23-Apr 3,500
26,315 11,750
07-Apr 55,000
29-Apr 5,000
60,000

26-Apr 20,000 08-Apr 100,000

80,000

07-Apr 55,000
55,000

12-Apr 8,250
23-Apr 3,500
11,750

UTILITIES EXPENSE
Debit Credit
25-Apr 1,750
1,750

SALARIES EXPENSE
Debit Credit
28-Apr 5,000
5,000

RENT EXPENSE
Debit Credit
06-Apr 8,000
8,000

REPAIRS EXPENSE
Debit Credit
24-Apr 4,500
4,500

SERVICE FEES EARNED

Debit Credit
12-Apr 57,000
23-Apr 14,950
71,950

TIMOTHY, CAPITAL
Debit Credit
05-Apr 200,000
200,000

TIMOTHY, DRAWING
Debit Credit
30-Apr 3,500
3,500
 Timothy Designs
Trial Balance
For the month ended April 30, 20XX
Debit Credit
Cash P128,435
Accounts Receivable 4,950
Supplies 14,565
Equipment 55,000
Truck 180,000
Bank Loan Payable P80,000
Accounts Payable 65,000
Timothy, Capital 200,000
Timothy, Drawing 3,500
Service Fees Earned 72,450
Salaries Expense 5,000
Rent Expense 8,000
Repairs Expense 4,500
Supplies Expense 11,750
Utilities Expense 1,750
Total: P417,450 P417,450

Timothy Design
 Statement of Financial Position
For the month ended April 30, 20XX
       
ASSETS
CURRENT ASSETS      
Cash   ₱ 128  
Accounts Receivable   25,000  
Supplies   2,750  
₱
TOTAL CURRENT ASSETS     177,750
       
NON-CURRENT ASSETS      
Furniture & Equipment ₱ 250,000    
Less: Accumulated Depreciation 2,500 247,500  
TOTAL NON-CURRENT ASSETS     247,500
₱
TOTAL ASSETS     425,250

LIABILITIES AND OWNER'S EQUITY

CURRENT LIABILITIES      
₱
Notes Payable to PNB   60,000  
Accounts Payable - Delta Equipment 28,000 28,000  
Utilities Payable   12,500  
Wages Payable   5,000  
Taxes Payable   3,700  
₱
TOTAL CURRENT LIABILITIES     109,200

OWNER'S EQUITY      
Ramona, Capital   316,050  
TOTAL OWNER'S EQUITY     316,050
TOTAL LIABILITIES AND OWNER'S ₱
EQUITY     425,250