LANDING ON YOU TRAVEL SERVICES COMPANY

Journal Entry
For the Month of April, 2020
Transaction no. Particulars
1 Cash
Yoon, Capital
Initial Investment of Yoon.

2 Cash
Organization Expense
Cash
Notes Payable
Payment for Licenses and permits. Bank Loan.

3 Automobile
Accounts Payable
Two (2) 15-seater Van bought on account.

4 Office Equipment
Cash
Ten (10) Computers bought.

6 Furniture and Fixtures

Cash
Accounts Payable
Tables, chairs, cabinets, sofa bought.

7 Cash
Local Travel Fees Earned
Travel services rendered.

8 Accounts Payable
Cash
Paid one (1) Shuttle Van in cash that bought on account.

9 Salaries Expense
Cash
Payment for employees.

10 Accounts Receivable
International Travel Fees Earned
Travel services rendered.

11 Repairs and Maintenance Expense

 Cash
Payment for minor repair of automibole.

12 Cash
Unearned Local Travel Fees
Unearned International Travel Fees
Advance payment of the customers.

13 Cash
Accounts Receivable
Collected from Three (3) customers on transaction no. 10

14 Yoon, Drawing
Cash
Owner's Withdrawal

15 Salaries Expense
Utilities Expense
Gas and Oil Expense
Cash
Payment for the expenses incurred.
S COMPANY

20
PR DEBIT CREDIT
101 PHP 6,000,000.00
301 PHP 6,000,000.00

101 PHP 100,000.00

PHP 250,000.00
101 PHP 250,000.00
202 PHP 100,000.00

105A PHP 3,200,000.00

201 PHP 3,200,000.00

106A PHP 300,000.00

101 PHP 300,000.00

107A PHP 600,000.00

101 PHP 200,000.00
201 PHP 400,000.00

101 PHP 73,160.00

401 PHP 73,160.00

201 PHP 1,600,000.00

101 PHP 1,600,000.00

501 PHP 95,000.00

101 PHP 95,000.00

102 PHP 194,440.00

402 PHP 194,440.00

504 PHP 7,000.00

101 PHP 7,000.00

101 PHP 689,632.00

401 PHP 51,632.00
402 PHP 638,000.00

101 PHP 116,664.00

102 PHP 116,664.00

302 PHP 30,000.00

101 PHP 30,000.00

501 PHP 95,000.00

502 PHP 12,000.00
511 PHP 10,000.00
101 PHP 117,000.00
 LANDING ON YOU TRAVEL SERVICES COMPANY
General Ledger
For the Month of April, 2020
Cash
Transaction # 1 P 6,000,000 Transaction # 2 P 250,000
Transaction # 2 100,000 Transaction # 4 300,000
Transaction # 7 73,160 Transaction # 6 200,000
Transaction # 12 689,632 Transaction # 8 1,600,000
Transaction # 13 116,664 Transaction # 9 95,000
Transaction # 11 7,000
Transaction # 14 30,000
Transaction # 15 117,000
Total P 4,380,456

Accounts Receivable
Transaction #10 P 194,440 Transaction #13 P 116,664
Total P 77,776

Automobile
Transaction #3 P 3,200,000
Total P 3,200,000

Office Equipment
Transaction #4 P 300,000
Total P 300,000

Furniture and Fixtures

Transaction #6 P 600,000
Total P 600,000

Accounts Payable
Transaction #8 P 1,600,000 Transaction #3 P 3,200,000
Transaction #6 P 400,000
Total P 2,000,000

Notes Payable
Transaction #2 P 100,000
Total P 100,000

Unearned Local Travel Fees

Transaction #12 P 51,632
Total P 51,632

Unearned International Travel Fees

 Transaction #12 P 638,000
Total P 638,000

Yoon, Capital
Transaction #1 P 6,000,000
Total P 6,000,000

Yoon, Drawing
Transaction #14 P 30,000
Total P 30,000

Local Travel Fees Earned

Transaction #7 P 73,160
Total P 73,160

International Travel Fees Earned

Transaction #10 P 194,440
Total P 194,440
 RAVEL SERVICES COMPANY
neral Ledger
onth of April, 2020
Salaries Expense 1
Transaction # 9 P 95,000 2
Transaction # 15 P 95,000
Total P 190,000 4
6
Utilities Expense 7
Transaction # 15 P 12,000 8
Total P 12,000 9
11
Repairs and Maintenance Expense 15
Transaction #11 P 7,000
Total P 7,000

Gas and Oil Expense

Transaction #15 P 10,000
Total P 10,000

Organization Expense
Transaction #2 P 250,000
Total P 250,000
Cash Accounts recevable Office supplies Prepaid rent Automobile Office equipment
6,000,000
-250,000
100,000
-300,000 300,000
-200,000
73,160
-1,600,000 -1,600,000
-95,000
-7,000
-117,000
Furniture and Fixtures Accounts Payable Notes Payable Unearned LTF Unearned ITF

100,000

600,000 400,000
Capital Capital Notation
6,000,000 Initial Investment
organization expense
Bank loan (12%)
Office equipment bought
Furniture and fixtures bought.
Local travel fees earned
Payment for 1 van bought on account
Salaries expense
repairs and maintenance expense
Payment for employees, utilities, gas and oil.