GANAO, FRANCINE SAYRA S.

11-ZEUS

The following transactions occurred in the first month of operation of the " At-Your-
Service Motor Shop".

2020 Jan.

2 - The owner, A. Moreno invested P10,000 cash to start the business.

6 - Bought for cash repair equipment worth P4,500.

7 - Paid P3,550 for repair supplies bought.

9 - Cash of P250 was received from a customer for repair service done on his
automobile.

12 - Sent a bill for P1,850 to R. Hernandez for repair work done on his delivery truck.

15 - Paid for the tools ordered and received, P1,550.

17 - Paid the salaries of the shop helper, P250.

20 - Bought repair supplies from ABC Trading worth P1,700 on credit.

22 - Collected P850 from R. Hernandez as partial payment of his account.

25 - Gave P700 cash to ABC Trading as partial settlement of the account due to it.

29 - Received, P2,500 from various customers for repair services rendered.

30 - Paid the rent of the shop, P800.

30 - Paid the salaries of the shop helper, P250.

Same transactions of A. Moreno " At-Your-Service Motor Shop :

Required:

1. General Journal

2. Chart of Accounts

GENERAL JOURNAL
 Date Accounts Title and Explanation F Debit Credit
2020 Jan. 2 Cash 111 P10,000
A.Moreno, capital 311 P10,000
Invested cash to start the
business.

6 Repair Equipment 115 P4,500

Cash 111 P4,500
Purchased repair equipment
for cash.

7 Repair Supplies 113 P3,550

Cash 111 P3,550
Paid repair supplies for cash.

9 Cash 111 P250

Service Income 411 P250
Amount received for services
rendered.

12 Accounts Receivable- R. Hernandez 112 P1,850

Service Income 411 P1,850
Repair service rendered on
account to R. Hernandez

15 Tools 114 P1,550

Cash 111 P1,550
Paid the tools ordered and
received for cash.

17 Salaries Expense 511 P250

Cash 111 P250
Payment of salaries of the
shop helper.

20 Repair Supplies 113 P1,700

Accounts Payable- ABC Trading 211 P1,700
Purchased repair supplies on
credit.

22 Cash 111 P850

Accounts Receivable- R. Hernandez 112 P850
 Partial payment of R. Hernandez.

25 Accounts Payable- ABC Trading 211 P700

Cash 111 P700
Payment of account due to ABC
Trading.

29 Cash 111 P2,500

Service Income 411 P2,500
Amount received for services
rendered.

30 Rent Expense 512 P800

Cash 111 P800
Payment of monthly rental.

30 Salaries Expense 511 P250

Cash 111 P250
Payment of salaries of the shop
helper.

At-Your-Service Motor Shop

Chart of Accounts
Assets

111 Cash
112 Accounts Receivable- R. Hernandez
113 Repair Supplies
114 Tools
115 Repair Equipment

Liabilities

211 Accounts Payable- ABC Trading

Owner’s Equity

311 A. Moreno, capital

Income

411 Service Income

Expenses

511 Salaries Expense

512 Rent Expense