LEARNING AS ONE NATION

FABM2_7
Expanded Project
SHS LEARNING ACTIVITY
Name: Score/Mark:
Grade and Section: Date:
Strand:  STEM  ABM  HUMSS  ICT (TVL Track)
Subject: Fundamentals of ABM 2
Type of Activity:  Concept Notes  Skills: Exercise/Drill  Illustration
 Performance Task  Essay/Report  Others:
Activity Title: LA-7. Recording Journal Entries
Learning Target: To record transactions of a service business in the general journal
References: Hinayon, et al., Fundamentals of Accounting, pp. 102-103
(Author, Title, Pages) Q. J. Abcede, CVIF Learning Activities

When recording journal entries in a two-column general journal:

1. Analyze the business transaction using the source document/s.
2. In the Date column, write the date of the entry as per source document.
3. Make a debit entry. (Write the account title at the extreme left edge of the
Account Title column. Then, write the amount in the Dr column.)
4. Make a credit entry. (Indent the account title a half inch from the left edge
of the Account Title column. Then, write the amount in the Cr column.)
5. Provide a brief description of the transaction to explain the journal entry
made. (Indent the description an inch from the left edge of the Account Title
column.)
Sample Journal Entry:
On January 1, Joy invested Php750,000 in a bank account in the name of
Ligaya Advertising.
Date Account Title/ Description PR Dr Cr
2020
Jan 1 Cash 101 750000
Ligaya, Capital 301 750000
(Made original investment)

Exercise: Record the following transactions of Ligaya Advertising in the journal.

[Additional Acct. Nos. – Accounts Receivable (102); Office Supplies (104); Office Equipment
(108); Accounts Payable (201); Service Revenue (401)]

1. On Jan. 5, Joy purchased computer equipment and accessories, paying

Php380,000 in cash.
2. On Jan. 9, Joy acquired office supplies for Php25,000 on account.
3. On Jan. 17, Ligaya Advertising billed some clients Php70,000 for services
already provided during the month. The billings are uncollected as of this
date.