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FABM 2
GRADE 12 - ABM - COELHO MR. JOEMEL MARK MAMUGAY
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30 Cash 101 15,000
Accounts Receivable 111 15,000
Collected cash from customer’s accounts receivable
January
31 Salaries Expense 611 20,000
Rent Expense 615 10,000
Utilities Expense 621 4,000
Cash 101 34,000
Paid expenses through cash
January
31 JGF, Drawing 301 5,000
Cash 101 5,000
Owner’s withdrawal of cash from the business for his
personal use
2. Post the journal entries to the ledger accounts. Use the following account codes –
Cash (101), Accounts Receivable (111), Office Supplies (131), Furniture and
Fixtures(145), Equipment (150), Accounts Payable (201), Notes Payable (212), JGF,
Capital (300), JGF, Drawing (301), Professional Fees (406), Salaries Expense (611),
Rent Expense (615), Utilities Expense (621), and Organization Expense (625). Add
table if necessary.
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OFFICE SUPPLIES NO. 131
Date Explanation Ref Debit Credit Balance
2014
Jan 5 Purchased supplies on account J1 7,500 7,500
Balance 7,500
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PROFESSIONAL FEES NO. 406
Date Explanation Ref Debit Credit Balance
2014
Jan 12 Rendered services on cash J1 35,000 35,000
15 Billed customers on account for services J1 25,000 60,000
performed
Balance 60,000
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611 Salaries Expense 20,000
615 Rent Expense 10,000
621 Utilities Expense 4,000
625 Organization Expense 10,000
Total Php 372,500 Php 372,500
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