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    Activity 1 - Journalizing

    Uploaded by

    Jesther Nasa-an
    This document records 14 transactions by a business from its inception to the withdrawal of owner funds. It records the initial cash investment, purchases of office furniture and equipment using both cash and credit, revenues from consulting services provided both in cash and on credit, payment of rent, salaries, bills and accounts payable. The owner also withdrew funds from the business.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Activity 1 - Journalizing

    Uploaded by

    Jesther Nasa-an
    33 views2 pages
    This document records 14 transactions by a business from its inception to the withdrawal of owner funds. It records the initial cash investment, purchases of office furniture and equipment using both cash and credit, revenues from consulting services provided both in cash and on credit, payment of rent, salaries, bills and accounts payable. The owner also withdrew funds from the business.

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    Activity 1- Journalizing

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    This document records 14 transactions by a business from its inception to the withdrawal of owner funds. It records the initial cash investment, purchases of office furniture and equipment using both cash and credit, revenues from consulting services provided both in cash and on credit, payment of rent, salaries, bills and accounts payable. The owner also withdrew funds from the business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    33 views2 pages

    Activity 1 - Journalizing

    Uploaded by

    Jesther Nasa-an
    This document records 14 transactions by a business from its inception to the withdrawal of owner funds. It records the initial cash investment, purchases of office furniture and equipment using both cash and credit, revenues from consulting services provided both in cash and on credit, payment of rent, salaries, bills and accounts payable. The owner also withdrew funds from the business.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Jesther M.

    Nasa-an BPA-2D

    Account Title Debit Credit


    A Cash 100,000
    Resultay, Capital 100,000

    To record the cash invested to start a


    business
    B. Rent Expense 5,000
    Cash 5,000
    Payment for Rent

    C. Office Furniture 15,000


    Cash 15,000
    To record the about buying office furniture

    D. Office equipment 54,000


    Cash 27,000
    Accounts payable 27,000
    Partial payment for office equipment

    E. Cash 12,000
    Consulting revenues 12,000
    To record the performed services

    F. Accounts Receivable 10,800


    Consulting Revenues 10,800
    To record the performed services

    G. Office equipment 7,5000


    Cash 3,000
    Accounts Payable 4,500
    To record the partial payment for office
    equipment

    H. Cash 5,400
    Accounts Receivable 5,400
    To record the received cash on account

    I. Salaries Expense 10,000


    Cash 10,000
    To Record the payment of salaries

    J. Accounts Payable 4,500


    Cash 4,500
    To record the full payment for fox machine

    K. Cash 7,000
    Jesther M. Nasa-an BPA-2D

    Consulting Revenues 7,000


    To record the services performed in Cash

    L. Accounts Receivable 12,000


    Consulting Revenues 12,000
    To Record the performed services in credit

    M. Miscellaneous Expense 1,350


    Cash 1,350
    Payment of telephone Bill

    N. Utilities Expense 2,400


    Cash 2,400
    Payment for electric and water bills

    O. Cash 2,000
    Accounts Receivable 2,000
    Collected cash on clients Account

    P. Resultay Withdrawal 7,000


    Cash 7,000
    Owners Withdrawal

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