Bukidnon State University

Cabanglasan Campus

BACC 105- Basic Finance (BA 1A, BA 1C)

Activity for Basic Accounting Part 1
Accomplish the journalization and posting of the following transactions of BuCab
Services for the month of January, 2023. Nest create the trial balance of balances.
January 3 Paulo opened up a business enterprise with a trade name BuCab and
invested a P100,00 cash into business.

January 5 Paulo contributed land into his business amounting to P150,000

January 7 Paulo contributed chairs and table into his business amounting to P50,000

January 9 BuCab rendered services to its customers for cash amounting to P50,000

January 11 BuCab rendered services on account to its customer, amounting to P75,000

January 13 BuCab rendered services to its customer amounting to P75,000. The
customer made a 30% down payment and the balance on account.
January 15 BuCab rendered services on account to its customer and the customer has
signed a promissory note amounting to P30,000
January 17 BuCab services borrowed money from the VPI Bank amounting to
P300,000 to finance its operation
January 19 BuCab Services purchase a computer at SN appliance center amounting to
P35,000 on account.
January 21 BuCab Services purchased a photocopier on account from SN appliance
center amounting to P65,000 under the terms of 10% down payment and
the balance on account.
January 23 BuCab Services paid rental expense for the month amounting to P4,500
January 24 Paulo, the owner withdrew P2,000 for personal use
January 25 BuCab Services paid its loan to VPI bank amounting to P300,000.
January 27 BuCab Services paid its account with SN appliance center amounting to
P70,000
January 28 BuCab Services paid one-year rental in advance for P120,000
January 29 BuCab Services collected its accounts receivable on January 15 amounting
to P20,000