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 Cash

101 PHP 6,000,000.00 Transaction # 1 P 6,000,000

301 PHP 6,000,000.00 Transaction # 2 100,000
Transaction # 7 73,160
Transaction # 12 689,632
101 PHP 100,000.00 Transaction # 13 116,664
PHP 250,000.00
101 PHP 250,000.00
202 PHP 100,000.00
Total P 4,380,456

105A PHP 3,200,000.00 Accounts Receivable

201 PHP 3,200,000.00 Transaction #10 P 194,440

Total P 77,776

106A PHP 300,000.00 Automobile

101 PHP 300,000.00 Transaction #3 P 3,200,000
Total P 3,200,000

107A PHP 600,000.00 Office Equipment

101 PHP 200,000.00 Transaction #4 P 300,000
201 PHP 400,000.00 Total P 300,000

Furniture and Fixtures

101 PHP 73,160.00 Transaction #6 P 600,000

401 PHP 73,160.00 Total P 600,000

Accounts Payable
201 PHP 1,600,000.00 Transaction #8 P 1,600,000
101 PHP 1,600,000.00

501 PHP 95,000.00 Notes Payable

101 PHP 95,000.00
102 PHP 194,440.00 Unearned Local Travel Fees
402 PHP 194,440.00

504 PHP 7,000.00 Unearned International Travel

101 PHP 7,000.00

101 PHP 689,632.00 Yoon, Capital

401 PHP 51,632.00
402 PHP 638,000.00

Yoon, Drawing
101 PHP 116,664.00 Transaction #14 P 30,000
102 PHP 116,664.00 Total P 30,000

Local Travel Fees Earned

302 PHP 30,000.00

101 PHP 30,000.00

International Travel Fees Earn

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 Salaries Expense

Transaction # 2 P 250,000 Transaction # 9 P 95,000

Transaction # 4 300,000 Transaction # 15 P 95,000
Transaction # 6 200,000 Total P 190,000
Transaction # 8 1,600,000
Transaction # 9 95,000 Utilities Expense
Transaction # 11 7,000 Transaction # 15 P 12,000
Transaction # 14 30,000 Total P 12,000
Transaction # 15 117,000
Repairs and Maintenance Expense
Transaction #11 P 7,000
Accounts Receivable Total P 7,000
Transaction #13 P 116,664

Gas and Oil Expense

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

Organization Expense

Transaction #2 P 250,000
Office Equipment Total P 250,000

Furniture and Fixtures

Accounts Payable
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

rned 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

Local Travel Fees Earned

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

ernational Travel Fees Earned

Transaction #10 P 194,440
Total P 194,440
 Cash Accounts recevable
Salaries Expense 1 6,000,000

2 100,000
-250,000
3
4 -300,000
Utilities Expense 6 -200,000
7 73,160
8 -1,600,000
9 -95,000
rs and Maintenance Expense 10 194,440
11 -7,000
12 689,632
13 116,664 -116664

Gas and Oil Expense 14 -30,000

15 -95,000
-12,000
-10,000
Organization Expense Total 4,380,456 77,776

8,558,232 Total assets

Office supplies Prepaid rent Automobile Office equipment Furniture and Fixtures

3,200,000
300,000
600,000

3,200,000 300,000 600,000

Accounts Payable Notes Payable Unearned LTF Unearned ITF Capital
6,000,000

100,000
-250,000
3,200,000

400,000
73,160
-1,600,000
-95,000
194,440
-7,000
51,632 638,000

-30,000
-95,000
-12,000
-10,000
2,000,000 100,000 51,632 638,000 5,768,600

8,558,232 Total Liabilities and owner's equity

Capital Notation Cash
Cash investment of the owner Date
2020
Bank Loan APRIL
Payment for organization expense
Two (2) 15-seater Van bought on account.
Ten (10) Computers bought.
Tables, chairs, cabinets, sofa bought.
Travel services rendered.
Paid one (1) Shuttle Van in cash that bought on account.
Payment for employees.
Travel services rendered.
Payment for minor repair of automibole.
Advance payment of the customers. Accounts Receivable
Collected from Three (3) customers on transaction no. 10 Date
2020
Owner's Withdrawal APRIL
Payment for employees.
Payment for utilities
Payment for gas & oil Office Supplies
Date
2020
APRIL

Automobile
Date
2020
APRIL

Accumulated Depreciation – Automob

Date
2020
APRIL

Office Equipment
Date
2020
APRIL

Accumulated Depreciation – Office Equip

Date
2020
APRIL

Furniture & Fixtures

Date
2020
APRIL

Accumulated Depreciation – Furniture and

Date
2020
APRIL

Accounts Payable
Date
2020
APRIL

Notes payable
Date
2020
APRIL

Unearned Local Travel Fees

Date
2020
APRIL
 Unearned International Travel Fees
Date
2020
APRIL

Interest Payable
Date
2020
APRIL

Yoon, Capital
Date
2020
APRIL

Yoon, Drawing
Date
2020
APRIL

Profit or Loss Summary

Date
2020
APRIL

Local Travel Fees Earned

Date
2020
APRIL

International Travel Fees Earned

 Date
2020
APRIL

Travel Assistance Fees Earned

Date
2020
APRIL

Salaries Expense
Date
2020
APRIL

Utilities Expense
Date
2020
APRIL

Rent Expense
Date
2020
APRIL

Repairs and Maintenance Expense

Date
2020
APRIL

Organization Expense
Date
2020
APRIL
 Office Supplies Expense
Date
2020
APRIL

Interest Expense
Date
2020
APRIL

Depreciation Expense – Automobile

Date
2020
APRIL

Depreciation Expense – Office Equipme

Date
2020
APRIL

Depreciation Expense – Furniture and Fix

Date
2020
APRIL

Gas and Oil Expense

Date
2020
APRIL
 Cash
Date

1
2
7
12
13

Accounts Receivable
Date

10

Office Supplies
Date

Automobile
Date

Accumulated Depreciation – Automobile

Date

Office Equipment
Date
 4

Accumulated Depreciation – Office Equipment

Date

Furniture & Fixtures

Date

Accumulated Depreciation – Furniture and Fixtures

Date

Accounts Payable
Date

Notes payable
Date

Unearned Local Travel Fees

Date
Unearned International Travel Fees
Date

Interest Payable
Date

Yoon, Capital
Date

Yoon, Drawing
Date

14

Profit or Loss Summary

Date

Local Travel Fees Earned

Date

International Travel Fees Earned

 Date

Travel Assistance Fees Earned

Date

Salaries Expense
Date

9
15

Utilities Expense
Date

15

Rent Expense
Date

Repairs and Maintenance Expense

Date

11

Organization Expense
Date

2
 Office Supplies Expense
Date

Interest Expense
Date

Depreciation Expense – Automobile

Date

Depreciation Expense – Office Equipment

Date

Depreciation Expense – Furniture and Fixtures

Date

Gas and Oil Expense

Date

15
 Item PR Debit Date
2020
Initial Investment of Yoon. 101 6,000,000 APRIL 2
Payment for Licenses and permits. Bank Loan. 101 100,000 4
Travel services rendered. 101 73,160 6
Advance payment of the customers. 101 689,632 8
Collected from Three (3) customers on transaction no. 10 101 116,664 9
11
14
15

Item PR Debit Date

2020
Travel services rendered. 102 194,440 APRIL 13

Item PR Debit Date

103

Item PR Debit Date

Two (2) 15-seater Van bought on account. 105A 3,200,000

Item PR Debit Date

Item PR Debit Date

 Ten (10) Computers bought. 106A 300,000

Item PR Debit Date

Item PR Debit Date

Tables, chairs, cabinets, sofa bought. 107A 600,000

Item PR Debit Date

2020
APRIL

Item PR Debit Date

Paid one (1) Shuttle Van in cash that bought on account. 201 1,600,000 3
6

Item PR Debit Date

2020
APRIL 2

Item PR Debit Date

2020
APRIL 12
 Item PR Debit Date
2020
APRIL 12

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
APRIL 1

Item PR Debit Date

Owner's Withdrawal 302 30,000

Item PR Debit Date

Item PR Debit Date

2020
APRIL 7
 Item PR Debit Date
2020
APRIL 10

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
Payment for employees. 501 95,000 APRIL
Payment for employees. 501 95,000

Item PR Debit Date

2020
Payment for utilities 502 12,000 APRIL

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
Payment for minor repair of automibole. 504 7,000 APRIL

Item PR Debit Date

2020
Payment for Licenses and permits. 505 250,000 APRIL
 Item PR Debit Date
2020
APRIL

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
APRIL

Item PR Debit Date

2020
Payment for Gas and oil 511 10,000 APRIL
 Account no. 101
Item PR Credit

Payment for Licenses and permits. 101 250,000

Ten (10) Computers bought. 101 300,000
Tables, chairs, cabinets, sofa bought. 101 200,000
Paid one (1) Shuttle Van in cash that bought on account. 101 1,600,000
Payment for employees. 101 95,000
Payment for minor repair of automobile. 101 7,000
Owner's Withdrawal 101 30,000
Payment for the expenses incurred. 101 117,000

Account no. 102

Item PR Credit

Collected from Three (3) customers on transaction no. 10 102 116,664

Account no. 103

Item PR Credit

Account no. 105A

Item PR Credit

Account no. 105B

Item PR Credit

Account no. 106A

Item PR Credit
 Account no. 106B
Item PR Credit

Account no. 107A

Item PR Credit

Account no. 107B

Item PR Credit

Account no. 201

Item PR Credit

Two (2) 15-seater Van bought on account. 201 3,200,000

Tables, chairs, cabinets, sofa bought. 201 400,000

Account no. 202

Item PR Credit

Payment for Licenses and permits. Bank Loan. 100,000

Account no. 203

Item PR Credit

Advance payment of the customers. 51,632

 Account no. 204
Item PR Credit

Advance payment of the customers. 638,000

Account no. 205

Item PR Credit

Account no. 301

Item PR Credit

Initial Investment of Yoon. 301 6,000,000

Account no. 302

Item PR Credit

Account no. 303

Item PR Credit

Account no. 401

Item PR Credit

Travel services rendered. 401 73,160

Account no. 402

 Item PR Credit

Travel services rendered. 402 194,440

Account no. 403

Item PR Credit

Account no. 501

Item PR Credit

Account no. 502

Item PR Credit

Account no. 503

Item PR Credit

Account no. 504

Item PR Credit

Account no. 505

Item PR Credit
 Account no. 506
Item PR Credit

Account no. 507

Item PR Credit

Account no. 508

Item PR Credit

Account no. 509

Item PR Credit

Account no. 510

Item PR Credit

Account no. 511

Item PR Credit