PAYOT,KRISTEL MAE B.

GRADE 11AMB-C November 12,2021

FABM1 MODULE NO.8

RICHARD DIAGMEL WEEK NO.8

AACCOUNTING CYCLE FOR SERVICE BUSINESS 1ST DRADING

PAGE: J-1
GENERAL JOURNAL
DAT DESCRIPTION POST. DEBIT CREDIT
E REF.
2016 4 CASH L-1105 Php.500,000
To Record the investment of cash.
5 No entry because this is not a financial L-1110
transaction.
6 ACCOUNT RECEIVABLE L-1115 Php.3,000
To record collection of customer’s account.
7 UNUSED SUPPLIES L-1120 Php.10,000

To record purchase of supplies.

8 ACCOUNTS RECEIVABLE L-1125 PHP. 8,000

To record collection of customer’s account.

PAGE: J-2
11 No entry because this is not a financial L-1130
transaction.
12 RENDRED SERVICES L-1135 Php.15,000
To record cash received for services
rendered.
14 ACCOUNT RECIEVABLE L-1140 Php.12,000
To record collection of customer’s account.
15 UNUSED SUPPLIES L-1145 Php.50,000
To record purchase of supplies.

PAGE: J-3
18 ACCOUNT RECEIVABLE L-1150 Php.12,000
To record collection of customer’s account.
19 UTILITIES EXPENSE L-1155 Php.18,000
To record receipt of electricity bill.
20 CASH L-1160 Php.15,000
To record cash received for services
rendered.
21 SALARIES EXPENSES L-1165 Php.15,000
To record payment of salaries.
22 CASH L-1170 Php.18,000
To record owner’s personal withdrawal.

PAGE: J-4
25 UTILITIES EXPENSE L-1175 Php.1,500
To record receipt of paid airfare ticket
26 TAXES EXPENSE L-1180 Php.4,000
To record payment of taxes.
27 UNUSED SUPPLIES L-1185 Php.12,500
To record purchase of supplies.
28 ACCOUNT RECEIVABLE L-1190 Php.5,0000
To record collection of customer’s account
29 RENDERED SERVICES L-1195 Php.15,000

To record cash received for services

rendered.
 CHART OF AACOUNTS

ACCOUNT DESCRIPTION ACCOUNT ACCOUNT TITLES

CODE TYPE ASSEST/LIABILITIE
(CREDIT/DEBIT) ETC
L-1105 Use for investment Debit Current Assets
transaction.
L-1110 NONE - -
L-1115 Use to collects costumer’s Debit Current Assets
account
L-1120 Use to purchase supplies. Credit Noncurrent Assets
L-1125 Use to collect costumer’s Debit Current Assets
account.
L-113O NONE - -
L-1135 Use to collect costumer’s Debit Current Assets
account.
L-1140 Use to collect costumer’s Debit Current Assets
account.
L-1145 Use to purchase supplies. Credit Noncurrent Assets
L-1150 Use to collect costumer’s Debit Current Assets
account

L-1155 To use of electricity bill. Credit Expense

L-1160 To use for services Debit Current Assets
rendered
L-1165 Use to pay for salaries. Credit Expense
L-1170 To use for Credit Capita;
hospitalization.
L-1175 To use for paying ticket. Credit Expense
L-1180 To pay for taxes. Credit Expense
L-1185 Use to purchase supplies Credit Noncurrent Assets
L-1190 Use to collect costumer’s Debit Current Assets
account
L-1195 Use to received cash. Debit Current Assets
 GENERAL LEDGER
ACCOUNT TITLE:CASH
DATE EXPLANATION POST. REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-04-2016 CASH INVESTEMENT J-1 500,000 500,000 L-1105
01-20-2016 CASH RECEIVED J-3 15,000 15,000 L-1160
01-22-2016 CASH WIHTDRAWAL J-3 18,000 18,000 L-1170
TOTAL 18,000 65,000 83,000

ACCOUNT TITLE: ACCOUNT RECIEVABLE

DATE EXPLANATION POST REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-06-2016 COLLECTION OF J-1 3,000 3,000 L-1115
ACCOUNT
01-08-2016 COLLECTION OF J-1 8,000 8,000 L-1125
ACCOUNT
01-12-2016 RENDERED SERVICES J-1 15,000 15,000 L-1135
01-14-2016 COLLECTION OF J-2 12,000 12,000 L-1140
ACCOUNT
01-18-2016 COLLECTION OF J-3 50,000 50,000 L-1150
ACCOUNT
01-28-2016 COLLECTION OF J-4 5,000 5,000 L-1175
ACCOUNT
01-29-2016 RENDERED SERVICES J-4 15,000 15,000 L-1195
TOTAL 108,000

ACCOUNT TITLE: UNUSED SUPPLIES

DATE EXPLANATION POST REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-07-2016 PURCHASED OF SUPPLIES J-1 10,000 10,000 L-1120
01-15-2016 PURCHASED OF SUPPLIES J-2 50,000 50,000 L-1145
01-27-2016 PURCHASED OF SUPPLIES J-4 12,500 12,500 L-1185
TOTAL 72,500
ACCOUNT TITLE: ACCOUNT PAYMENT
DATE EXPLANATION POST REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-19-2016 RECEIPT OF ELECTRICITY J-3 18,000 18,000 L-1155
BILL
01-25-2016 RECEIPT OF PAID TICKET J-4 1,500 1,500 L-1175
TOTAL 19,500

ACCOUNT TITLE: SALARIES EXPENSE

DATE EXPLANATION POST REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-21-2016 SERVICE RENDERED J-3 15,000 15,000 L-1165
TOTAL 15,000

ACCOUNT TITLE: TAXES EXPENSE

DATE EXPLANATION POST REF CREDIT DEBIT BALANCE ACCOUNT
CODE
01-26-2016 SERVICES RENDERED J-4 4,000 4,000 L-1180
TOTAL 4,000

TRIAL BALANCE
ACCOUNT TITLE DEBIT CREDIT
CASH 18,000
65,000
ACCOUNT RCEIVBLE 108,000
UNUSED SUPPLIES 72,500
ACCOUNT PAYMENT 19,500
SALARIES EXPENSE 15,000
TAXES EXPENSE 4,OOO
TOTALS: 126,000 176,000