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Page 1
DATE
DEBIT
CREDIT
2014
June
Cash
R. Ejercito, Capital
11
300,000
31
300,000
Prepaid Rent
Cash
13
50,000
11
50,000
Equipment
Cash
Notes Payable
15
100,000
11
40,000
22
60,000
Office Supplies
Accounts Payable
14
25,000
21
25,000
Cash
Service Income
11
39,400
41
39,400
Accounts Payable
Cash
21
25,000
11
25,000
43,700
11
0
Accounts Receivable
Service Income
12
20,200
41
63,900
Wages Expense
Cash
51
23,500
11
23,500
Cash
Accounts Receivable
11
20,200
12
20,200
Cash
Unearned Income
11
6,300
24
6,300
Office Supplies
Accounts Payable
14
3,500
21
3,500
Electricity Expense
Utilities Payable
52
1,850
23
1,850
Telephone Expense
Utilities Payable
Telephone bill received for payment
53
23
2,650
2,650
2
8
54
Miscellaneous Expense
Cash
4,320
11
4,320
GENERAL LEDGER
CASH
Account No.11
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
CREDIT
Advanced Rental
J
1
50,000
Partial PytEquipment
J
1
40,000
Full payment of
account
J
1
25,000
Wages of
employees
J
1
23,500
Miscellaneous Exp.
J
1
4,320
2014
6
Initial Investment
J
1
300,000
1
6
Service rendered
39,400
June
8
9
2
0
Service rendered
J
1
J
1
2
1
Collection of A/R
J
1
2
2
Advanced Pyt fr
.client
J
1
Balance
43,700
1
6
20,200
2
1
6,300
2
8
409,600
142,820
266,780
266,780
409,600
ACCOUNTS RECEIVABLES
Account No.12
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
CREDIT
2014
2
0
Service rendered
J
1
20,200
June
2
1
Full payment
PREPAID RENT
Account No.13
J
1
20,200
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
CREDIT
CREDIT
CREDIT
CREDIT
2014
8
Advanced Rental
J
1
50,000
OFFICE SUPPLIES
Account No.14
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
2014
1
0
J
1
25,000
2
7
J
1
3,500
Balance
28,500
EQUIPMENT
Account No.15
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
2014
9
J
1
100,000
ACCOUNTS PAYABLE
Account No.21
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
2014
1
6
Payment of account
J
1
25,000
June
1
0
office supplies
J
1
25,000
2
7
office supplies
J
1
3,500
3,500
28,500
28,500
Balance
3,500
NOTES PAYABLE
Account No.22
DATE
EXPLANATION
DEBIT
2014
DATE
EXPLANATION
Bal on purchase of
Equipment (3.4%
int.)
J
1
CREDIT
2014
June
2
2
60,000
UTILITIES PAYABLE
Account No.23
DATE
EXPLANATION
DEBIT
2014
DATE
EXPLANATION
CREDIT
2014
June
2
8
2
8
Electricity
1,850
Telephone
2,650
Balance
4,500
UNEARNED INCOME
Account No.24
DATE
EXPLANATION
DEBIT
2014
DATE
EXPLANATION
CREDIT
2014
June
2
2
Advanced Pyt fr
.client
J
1
6,300
R. EJERCITO, CAPITAL
Account No.31
DATE
2014
EXPLANATION
DEBIT
DATE
EXPLANATION
CREDIT
300,000
2014
June
Initial Investment
R. EJERCITO, DRAWING
Account No.32
DATE
EXPLANATION
DEBIT
2014
DATE
EXPLANATION
CREDIT
EXPLANATION
CREDIT
Service rendered
J
1
J
1
2014
SERVICE INCOME
Account No.41
DATE
EXPLANATION
DEBIT
2014
DATE
2014
June
1
6
2
0
Service rendered
Balance
39,400
63,900
103,300
WAGES EXPENSE
Account No.51
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
CREDIT
CREDIT
2014
2
1
Wages June8-21
J
1
23,500
ELECTRICITY EXPENSE
Account No.52
DATE
EXPLANATION
DEBIT
2014
June
DATE
2014
2
8
Electricity
J
1
1,850
EXPLANATION
TELEPHONE EXPENSE
Account No.53
DATE
EXPLANATION
DEBIT
2014
June
DATE
EXPLANATION
CREDIT
CREDIT
2014
2
8
Telephone
J
1
2,650
MISCELLANEOUS EXPENSE
Account No.54
DATE
EXPLANATION
DEBIT
2014
June
DATE
2014
2
8
Miscellaneous
J
1
4,320
EXPLANATION