IRISH ANNE ALCANTARA FABM 1

ABM 11-DESCARTES Q3-W8

ASSESSMENT:
TRANSACTION OF MASAYAHIN COMPANY FOR NOVEMBER 2019
GENERAL JOURNAL
DATE ACCOUNT TITLE AND PR DEBIT CREDIT
EXPLANATION
2019
NOV.
NOV.01 Cash 100,000
Masayahin, Capital 100,000
To record Masayahin’s Intial capital.
4 Supplies 4,000
Cash 4,000
To record purchase of supplies.
7 Office Equipment 10,000
Cash 10,000
To record purchase of office equipment.
7 Office Equipment 3,000
Accounts Payable 3,000
To record accounts payable paid.
11 Account Receivable 14,000
Services Revenue 14,000
To record cash received for services rendered.
23 Salaries Expenses 1,000
Cash 1,000
To record payment of salary.
GENERAL LEDGER
ACCOUNT NAME: Cash ACCOUNT NO:101
DATE ITEM RE DEBIT CREDIT BALAN
F CE
NOV.01 Invested Cash 100,000 100,000
4 Purchased Supplies 4,000 104,000
7 Paid Equipment 3,000 107,000
11 Rendered Services 14,000 93,000
23 Paid Salary 1,000 91,000
ACCOUNT NAME: MR.MASAYAHIN, CAPITAL ACCOUNT NO:301
DATE ITEM RE DEBIT CREDIT BALAN
F CE
NOV. 01 Mr.Masayahin, Capital 150,000 150,000

ACCOUNT NAME: Supplies ACCOUNT NO: 103

DATE ITEM RE DEBIT CREDIT BALANC
F E
Nov.04 Purchased Supplies 4,000 4,000

ACCOUNT NAME: Accounts Payable ACCOUNT NO:201

DATE ITEM RE DEBIT CREDIT BALANC
F E
Nov.07 Purchased Equipment paid 3,000 3,000

ACCOUNT NAME: Office Equipment ACCOUNT NO:104

DATE ITEM RE DEBIT CREDIT BALANCE
F
Nov.07 Purchased Equipment 10,000 10,000
07 Purchased Office Equipment Paid 3,000 7,000

ACCOUNT NAME: Service Revenue ACCOUNT NO:401

DATE ITEM RE DEBIT CREDIT BALANCE
F
11 For Services Rendered 14,000 14,000

ACCOUNT NAME: Account Receivable ACCOUNT NO:401

DATE ITEM RE DEBIT CREDIT BALANCE
F
11 For Services Rendered 14,000 14,000

ACCOUNT NAME: Salary Expenses ACCOUNT NO:501

DATE ITEM RE DEBIT CREDIT BALANCE
F
23 Paid Salary for Employee 1,000 1,000
 HAPPY REPAIR BUSINESS
TRIAL BALANCE
MONTH OF NOVEMBER

DEBIT
CREDIT
101 CASH P91,000
102 ACCOUNT RECEIVABLE 14,000
103 SUPPLIES 4,000
104 OFFICE EQUIPMENT 7,000
201 ACCOUNTS PAYABLE
3,000
301 MASAYAHIN, CAPITAL
100,000
401 SERVICE REVENUE
14,000
501 SALARIES EXPENSES 1,000
TOTAL P117,000
P117,000