NAME : ________________________________

SECTION: ________________________________

Problem #1
Jourmalizing Transactions

Evangeline Jamili Landscaping Service has the following completed transactions:

Mar. 1 Jamili deposited P200,000 in a bank account in the name of the business.
4 Jamili invested personal gardening equipment, with a fair market value of P10,000, in the
business.
6 Bought a used trailer on account from Sala Sales, P8,500.
7 Paid rent for the month,P6,000.
9 Bought a used backhoe from Mobile Equipment,P62,000,paying P30,000 in cash and the balance
on account.
10 Bought liability insurance for one year, P9,000.
13 Performed landscaping services on account for Tindoy Company, P34,200.
14 Bought supplies on account from Office Decor, P2,400.
15 Performed landscaping services on account for Urios University, P25,600.
17 Received and paid the bill from De Leon Services for gas and oil for the equipment, P1,400.
19 Performed landscaping services for Calimpusan on cash basis, P18,800.
22 Paid accounts to Sala Sales, P4,000.
24 Collected accounts from Tindoy Company, P7,000.
28 Performed landscaping services on account for Gucela Company, P16,250.
29 Received and paid the telephone bill, P1,860.
30 Paid the salaries of the employees, P13,400.
31 Jamili withdrew cash for personal use, P14,000.

Required:

Prepare the journal entries for the March transactions. Use the following accounts: Cash; Accounts
Receivable; Prepaid Insurance; Equipment; Accounts Payable; Jamili, Capital; Jamili, Withdrawals;
Landscaping Revenues; Salaries Expense; Rent Expense; Gas and Oil Expense; Supplies Expense; Utilities
Expense and Miscellaneous Expense.