Name: ______________________________________ Score: __________________

Activity
Directions: Establish the following T -Accounts.

O n January 1, 2017, Jaime M a s u n u r i n o p e n e d B L S L a u n d r y Shop.

Thr oughout the month of January, the following transactions were completed:
a. H e deposited P 4 0 0 , 0 0 0 in a b a n k account in the n a m e of the business.
b. H e b o u g h t chairs a n d a table a n d paid t h e m with P 5 , 7 0 0 cash.
c. H e bought supplies o n account from M o r o n g Supply Inc. P3,250.
d. H e paid P5,750 for the monthly rental of the place.
e. H e b o u g h t w a s h i n g m a c h i n e s a n d d r y e r s f r o m B a t a a n E q u i p m e n t
C o r p . a m o u n t i n g to P115,000. H e paid t h e m with P 3 5 , 0 0 0 in cash a n d
the balance o n accou nt.
f. H e earned P19, 2 5 0 revenues o n cash basis for the first half of the m o n t h .
g. H e bought insurance for one year for P5,800.
h. H e paid accounts to Bataan E q u i p m e n t Corp. w o r t h P7,000.
i. H e paid P 7,000 for the electric bill.
j. H e earned P12,350 revenues o n cash basis for the second half of the
month.
k. H e paid P 7 , 4 0 0 for the salaries of the part-time assistants.
l. H e withdrew P4,500 cash for personal use.
m . H e paid accounts to M o r o n g Supply Inc. worth P2,750.
n. H e paid P2,800 to the city government for sidewalk repair assessment .
o. H e paid miscellaneous expenses for the m o n t h worth P1,000.