GENERAL JOURNAL

Page 1
DATE

ACCOUNT TITLES AND EXPLANATION

DEBIT

CREDIT

2014
June

Cash
R. Ejercito, Capital

11

300,000

31

300,000

To record the initial investment of R. Ejercito

8

Prepaid Rent
Cash

13

50,000

11

50,000

Advance payment of rental 6 mos.

9

Equipment
Cash
Notes Payable

15

100,000

11

40,000

22

60,000

Purchased of equipment on cash and on

account
1
0

Office Supplies
Accounts Payable

14

25,000

21

25,000

Purchased of office supplies on account

1
6

Cash
Service Income

11

39,400

41

39,400

Amount received for service rendered.

1
6

Accounts Payable
Cash

21

25,000

11

25,000

Full payment of the account office supplies

Cash
2

43,700
11

0
Accounts Receivable
Service Income

12

20,200

41

63,900

Service rendered with partial payment and on

account
2
1

Wages Expense
Cash

51

23,500

11

23,500

Payment of wages for June 8-21

2
1

Cash
Accounts Receivable

11

20,200

12

20,200

Collection of Account Receivables

2
2

Cash
Unearned Income

11

6,300

24

6,300

Advanced Payment received from customer

2
7

Office Supplies
Accounts Payable

14

3,500

21

3,500

Purchased of office supplies on account

2
8

Electricity Expense
Utilities Payable

52

1,850

23

1,850

Electricity bill received for payment

2
8

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

Payment of miscellaneous expense

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