LYCEUM OF ALABANG

BASIC EDUCATION - SENIOR HIGH SCHOOL DEPT.

ACCOUNTANCY, BUSINESS AND MANAGEMENT STRAND

SY: 2021-2022
REVIEW
REMINDERS:
1. THIS IS DUE ONE WEEK FROM THE DATE POSTED IN FB GROUP CHAT.
2. ANSWERS SHOULD BE HAND-WRITTEN IN YOUR NOTEBOOK WITH YOUR NAME
ON THE UPPER LEFT CORNER OF THE PAPER.
3. SUBMIT PHOTOS OF YOUR ANSWERS ON THE DESIGNATED FOLDER IN MS
TEAMS.
4. FAILURE TO SUBMIT ON TIME = ABSENCE for the WEEK.

The general journal of E.R.I.K Company shows the following entries:

May 1 Cash 20000
E, Capital 20000
2 Store Supplies 6000
Cash 6000
4 Rent expense 5000
Cash 5000
5 Store Equipment 12000
Accounts Payable 12000
8 Cash 8250
Service Income 8250
10 Wages expense 1250
Cash 1250
12 Cash 19300
Service Income 19300
15 Accounts Payable 4000
Cash 4000
20 E, Drawing 9000
Cash 9000

REQUIRED:
1. Open a T-account for the following:
 Cash
 Store Supplies
 Store Equipment
 Accounts Payable
 E, Capital
 E, Drawing
 Service Income
 Wages Expense
 Rent Expense
2. Post the above Journal Entries to the T-accounts.
3. Prepare Trial Balance