General Journal

Date Accounts Title and Explanation Ref.

Feb 1 Cash in bank
Merchandise Inventory
E. Detoya, Capital
To record E. Detoya investment for his business.

1 Transportation Equipment
Cash in bank
To record purchase of transportation equipment.

1 Cash in bank
Prepaid Interest
Notes Payable
To record loan from PNB with advance interest paid.

2 Store Supplies Inventory

Accounts Payable
To record purchase of store supplies on account.

3 Purchases
Accounts Payable
To record purchase of merchandise on account.
Terms: 2/10,n/30.

4 Cash in bank
Installation Income
To record cash received from installation of a car acc.

4 Freight in
Cash in bank
To record freight of merchandise purchased.

5 Purchases
Cash in bank
To record purchase of merchandise.

6 Cash in bank
Purchase Returns and Allowances
To record return of merchandise purchase from
Everlast Car Co.
6 Cash in bank
Sales
To record Cash sales.

6 Freight out
Cash in bank
To record feight paid to LBC Express for the shipped
of merchandise.

10 Sales Return and Allowances

Cash in bank
To record return merchandise sold to Davao Carplus Co.

11 Accounts Payable
Cash in bank
Purchase Discount
To record full payment on account to Manila Car Corp.

12 Taxes and Licenses

Cash in bank
To record payment of taxes and licenses to City Gov't.

14 Accounts Receivable
Sales
To record sold merchandise on account to Mega Plus Co.
Terms: 2/10, n/30.

15 No Entry

18 Accounts Receivable
Sales
To record sold merchandise on account to UltraCo.
Terms: 2/10, n/30.

23 Cash in bank
Sales Discount
Accounts Receivable
To record cash collection from Mega Plus Co. with 2% disc.

24 Cash in bank
Instatllation Income
To record cash received from Mr. Melchor Bombeo for
the installation of car accessory.

27 Rent Expense
 Cash in bank
To record rental payment of building.

27 Accounts Receivable
Sales
To record sold merchandise on account to Go Cars Inc.
Terms: 45 days

28 Cash in Bank
Accounts Receivable
To record partial cash collection from Go Cars Inc.

28 Purchases
Accounts Payable
To record purchase merchandise on account to Ace Car Co.

28 E. Detoya, Drawing
Cash in bank
To record E. Detoya withdrawal.

28 Salaries and Wages

Cash in bank
To record payment of salaries and wages to employees.
 Debit Credit
1,000,000.00
45,000.00
1,045,000.00

700,000.00
700,000.00

470,000.00
30,000.00
500,000.00

10,000.00
10,000.00

180,000.00
180,000.00

15,000.00
15,000.00

5,000.00
5,000.00

200,000.00
200,000.00

6,500.00
6,500.00
140,000.00
140,000.00

3,920.00
3,920.00

8,000.00
8,000.00

180,000.00
176,400.00
3,600.00

15,000.00
15,000.00

250,000.00
250,000.00

210,000.00
210,000.00

245,000.00
5,000.00
250,000.00

20,000.00
20,000.00

30,000.00
 30,000.00

302,000.00
302,000.00

130,000.00
130,000.00

295,000.00
295,000.00

30,000.00
30,000.00

50,000.00
50,000.00
 Cebu Car-Tech Center
Trial Balance
February 28, 2019

Code Accounts Title Debit Credit

111 Cash in bank 808,180.00
113 Accounts Receivable 382,000.00
114 Merchandise Inventory 45,000.00
115 Store Supplies Inventory 10,000.00
116 Prepaid Interest 30,000.00
117 Transportation Equipment 700,000.00
221 Notes Payable 500,000.00
222 Accounts Payable 305,000.00
331 E. Detoya, Capital 1,045,000.00
332 E. Detoya, Drawing 30,000.00
441 Sales 902,000.00
442 Installation Income 35,000.00
443 Sales Discount 5,000.00
444 Sales Returns and Allowances 8,000.00
551 Purchases 675,000.00
552 Purchase Discounts 3,600.00
553 Purchase Returns and Alowances 6,500.00
554 Freight-in 5,000.00
663 Rent Expense 30,000.00
664 Salaries and Wages 50,000.00
665 Taxes and Licenses 15,000.00
669 Freight Out 3,920.00
Total 2,797,100.00 2,797,100.00
 GENERAL LEDGER
Cash ACCOUNT NO. 1
BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 1,000,000.00 1,000,000.00
1-Feb 700,000.00 300,000.00
1-Feb 470,000.00 770,000.00
4-Feb 15,000.00 785,000.00
4-Feb 5,000.00 780,000.00
5-Feb 200,000.00 580,000.00
6-Feb 6,500.00 586,500.00
6-Feb 140,000.00 726,500.00
6-Feb 3,920.00 722,580.00
10-Feb 8,000.00 714,580.00
11-Feb 176,400.00 538,180.00
12-Feb 15,000.00 523,180.00
23-Feb 245,000.00 768,180.00
24-Feb 20,000.00 788,180.00
27-Feb 30,000.00 758,180.00
28-Feb 130,000.00 888,180.00
28-Feb 30,000.00 858,180.00
28-Feb 50,000.00 808,180.00

Accounts Receivable ACCOUNT NO. 1

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
14-Feb 250,000.00 250,000.00
18-Feb 210,000.00 460,000.00
23-Feb 250,000.00 210,000.00
27-Feb 302,000.00 512,000.00
28-Feb 130,000.00 382,000.00

Merchandise Inventory ACCOUNT NO. 1

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 45,000.00 45,000.00

Store Supplies Inventory ACCOUNT NO. 1

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT
 DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
2-Feb 10,000.00 10,000.00

Prepaid Interest ACCOUNT NO. 1

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 30,000.00 30,000.00

Transportation Equipment ACCOUNT NO. 1

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 700,000.00 700,000.00

Notes Payable ACCOUNT NO. 2

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 500,000.00

Accounts Payable ACCOUNT NO. 2

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
2-Feb 10,000.00
3-Feb 180,000.00
11-Feb 180,000.00
28-Feb 295,000.00

E Detoya, Capital ACCOUNT NO. 3

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
1-Feb 1,045,000.00

E Detoya, Drawing ACCOUNT NO. 3

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT
 DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
28-Feb 30,000.00 30,000.00

Sales ACCOUNT NO. 4

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
6-Feb 140,000.00
14-Feb 250,000.00
18-Feb 210,000.00
27-Feb 302,000.00

Installation Income ACCOUNT NO. 4

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
4-Feb 15,000.00
24-Feb 20,000.00

Sales Discount ACCOUNT NO. 4

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
23-Feb 5,000.00 5,000.00

Sales Returns and Allowances ACCOUNT NO. 4

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
10-Feb 8,000.00 8,000.00

Purchases ACCOUNT NO. 5

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
3-Feb 180,000.00 180,000.00
5-Feb 200,000.00 380,000.00
28-Feb 295,000.00 675,000.00
Purchase Discounts ACCOUNT NO. 5
BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
11-Feb 3,600.00

Purchase Returns and Allowances ACCOUNT NO. 5

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
6-Feb 6,500.00

Freight in ACCOUNT NO. 5

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
4-Feb 5,000.00 5,000.00

Rent Expense ACCOUNT NO. 6

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
27-Feb 30,000.00 30,000.00

Salaries and Wages ACCOUNT NO. 6

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
28-Feb 50,000.00 50,000.00

Taxes and Licenses ACCOUNT NO. 6

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
12-Feb 15,000.00 15,000.00

Freight Out ACCOUNT NO. 6

BALANCE
DATE PARTICULARS J.R. DEBIT CREDIT
DATE PARTICULARS J.R. DEBIT CREDIT DEBIT
6-Feb 3,920.00 3,920.00
 ACCOUNT NO. 111
BALANCE
CREDIT

ACCOUNT NO. 113

BALANCE
CREDIT

ACCOUNT NO. 114

BALANCE
CREDIT

ACCOUNT NO. 115

BALANCE
 CREDIT

ACCOUNT NO. 116

BALANCE
CREDIT

ACCOUNT NO. 117

BALANCE
CREDIT

ACCOUNT NO. 221

BALANCE
CREDIT
500,000.00

ACCOUNT NO. 222

BALANCE
CREDIT
10,000.00
190,000.00
10,000.00
305,000.00

ACCOUNT NO. 331

BALANCE
CREDIT
1,045,000.00

ACCOUNT NO. 332

BALANCE
 CREDIT

ACCOUNT NO. 441

BALANCE
CREDIT
140,000.00
390,000.00
600,000.00
902,000.00

ACCOUNT NO. 442

BALANCE
CREDIT
15,000.00
35,000.00

ACCOUNT NO. 443

BALANCE
CREDIT

ACCOUNT NO. 444

BALANCE
CREDIT

ACCOUNT NO. 551

BALANCE
CREDIT
 ACCOUNT NO. 552
BALANCE
CREDIT
3,600.00

ACCOUNT NO. 553

BALANCE
CREDIT
6,500.00

ACCOUNT NO. 554

BALANCE
CREDIT

ACCOUNT NO. 663

BALANCE
CREDIT

ACCOUNT NO. 664

BALANCE
CREDIT

ACCOUNT NO. 665

BALANCE
CREDIT

ACCOUNT NO. 669

BALANCE
CREDIT