Scribd
Upload
4K views4 pages

Matapang Computer Repairs Journal Entries For The Month Ended February 29,2016 Date Account Title & Explanation Debit Credit

The document summarizes the journal entries and general ledgers of Matapang Computer Repairs for February 2016. It records the owner's capital investment of PHP 200,000, purchase of a computer equipment for PHP 25,000, repair income of PHP 10,000 and PHP 15,000, purchase of office supplies for PHP 5,000, and payment of an employee's salary of PHP 4,000. The adjusted trial balance shows total debits of PHP 230,000 equal to total credits.

Uploaded by

AaroneZulueta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
4K views4 pages

Matapang Computer Repairs Journal Entries For The Month Ended February 29,2016 Date Account Title & Explanation Debit Credit

The document summarizes the journal entries and general ledgers of Matapang Computer Repairs for February 2016. It records the owner's capital investment of PHP 200,000, purchase of a computer equipment for PHP 25,000, repair income of PHP 10,000 and PHP 15,000, purchase of office supplies for PHP 5,000, and payment of an employee's salary of PHP 4,000. The adjusted trial balance shows total debits of PHP 230,000 equal to total credits.

Uploaded by

AaroneZulueta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 4

Matapang Computer Repairs

Journal Entries
For the month ended February 29,2016

Date Account Title & Explanation Debit Credit


02/14/16 Cash ₱200,000
Capital, Matapang ₱200,000
To record investment of owner

02/15/16 Equipment ₱25,000


Cash ₱25,000
To record purchase of computer unit

02/16/16 No entry

02/17/16 Cash ₱10,000


Service Revenue ₱10,000
To record repair income- Juana

02/18/16 Accounts Receivable ₱15,000


Service Revenue ₱15,000
To record repair of Mike’s computer

02/19/16 Office Supplies ₱5,000


Accounts Payable ₱5,000
To record purchase of office supplies

02/25/16 Salaries Expense ₱4,000


Cash ₱4,000
To record payment of salary of Juana
Matapang Computer Repairs
General Ledgers
For the month ended February 29,2016

General Ledger
Account: Cash
Date Item Debit Credit Balance
2/14/16 Investment of Owner ₱200,000 ₱200,000
2/15/16 Purchase of Computer ₱25,000 ₱175,000
2/17/16 Repair Income- Jean ₱10,000 ₱185,000
2/25/16 Payment of Juana’s salary ₱4,000 ₱181,000

General Ledger
Account: Accounts Receivable
Date Item Debit Credit Balance
2/18/16 Repair Mike’s Computer ₱15,000 ₱15,000

General Ledger
Account: Office Supplies
Date Item Debit Credit Balance
2/19/16 Purchase of Office Supplies ₱5,000 ₱5,000

General Ledger
Account: Equipment
Date Item Debit Credit Balance
2/15/16 Repair Mike’s Computer ₱25,000 ₱25,000

General Ledger
Account: Accounts Payable
Date Item Debit Credit Balance
2/19/16 Purchase of Office Supplies ₱5,000 (₱5,000)
General Ledger
Account: Capital, Matapang
Date Item Debit Credit Balance
2/14/16 Investment of owner ₱200,000 (₱200,000)

General Ledger
Account: Service Revenue
Date Item Debit Credit Balance
2/14/16 Purchase of Office Supplies ₱10,000 (₱10,000)
2/18/16 Repair of Mike’s Computer ₱15,000 (₱25,000)

General Ledger
Account: Salaries Expense
Date Item Debit Credit Balance
2/25/16 Payment of salary of Juana ₱4,000 ₱4,000

Matapang Computer Repairs


Unadjusted Working Trial Balance
For the month ended February 29,2016

Account Title Debit Credit


Cash ₱181,000
Accounts Receivable ₱15,000
Office Supplies ₱5,000
Equipment ₱25,000
Accounts Payable ₱5,000
Capital, Matapang ₱200,000
Service Revenue ₱25,000
Salaries Expense ₱4,000
TOTAL ₱230,000 ₱230,000
Matapang Computer Repairs
Adjusting Entries
For the month ended February 29,2016

Unadjusted Adjusted
Working Trial Working Trial
Balance Balance Income Financial
Adjustments
Account Title Statement Statement

Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr.
Balance Sheet
Accounts
Cash ₱181,000 ₱221,000

Accounts ₱15,000
Receivable

Office Supplies ₱5,000


Equipment ₱25,000

Accounts Payable ₱5,000


Capital,Matapang ₱200,000

Income
Statement
Accounts
Service Revenue ₱25,000
Salaries Expense ₱4,000

You might also like