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City Laundry: Chart of Account Assets Liabilities

The document provides a chart of accounts for City Laundry including account codes and names for assets, liabilities, expenses, and income. It also includes a transaction ledger showing cash payments and receipts between October 1-29 for items like initial investment, equipment purchase, supplies, salaries, and income from laundry services. The chart of accounts and transaction ledger are tracking the financial activities and position of City Laundry.

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Gina Calling Danao
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1K views6 pages

City Laundry: Chart of Account Assets Liabilities

The document provides a chart of accounts for City Laundry including account codes and names for assets, liabilities, expenses, and income. It also includes a transaction ledger showing cash payments and receipts between October 1-29 for items like initial investment, equipment purchase, supplies, salaries, and income from laundry services. The chart of accounts and transaction ledger are tracking the financial activities and position of City Laundry.

Uploaded by

Gina Calling Danao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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CITY LAUNDRY

Chart of Account

ASSETS LIABILITIES
Account Code Account Name Account Code Account Name

100 Cash 200 Accounts Payable


101 Supplies
102 Prepaid Insurance
103 Laundry Equipment
104 Furniture & Fixtures LIABILITIES
Account Code Account Name

300 Sunglao, Capital


301 Sunglao, Withdrawals

EXPENSE INCOME (REVENUE)


Account Code Account Name Account Code Account Name

500 Salaries Expense 400 Laundry Income


501 Rent Expense
502 Utilities Expense
503 Miscellaneous Expense
DATE
DESCRIPTION PR DEBIT
2018
Oct. 1 Cash 192,000.00
Sunglao, Capital
To record initial investment of owner.

3 Furniture & Fixtures 12,960.00


Cash
To record purchased of tables and chairs
in cash.

4 Rent Expense 6,950.00


Cash
To record payment of rent for the month

5 Laundry Equipment 163,000.00


Cash
Accounts Payable
To record purchase of washers and dryers
in cash and on account.

6 Supplies 5,190.00
Accounts Payable
To record purchase of washing supplies
from Gadia Distributor on accouunt.

9 Cash 17,960.00
Laundry Income
To record payment from customer for
service rendered.

14 Prepaid Insurance 2,140.00


Cash
To record payment of one-year insurance
policy.

17 Utilities Expense 1,940.00


Cash
To record payment of electric bill.

21 Accounts Payable 1,230.00


Cash
To record payment of supplies on account
last October 6.
24 Cash 27,920.00
Laundry Income
To record payment from customer for
service rendered.

26 Salaries Expense 10,350.00


Cash
To record payment of employees salaries

29 Sunglao, Withdrawals 9,500.00


Cash
To record personal withdrawal of owner.
CREDIT

192,000.00

12,960.00

6,950.00

32,000.00
131,000.00

5,190.00

17,960.00

2,140.00

1,940.00

1,230.00
27,920.00

10,350.00

9,500.00
CASH (100)
DEBIT CREDIT
01/01/18 192,000.00
12,960.00 01/03/18
6,950.00 01/04/18
32,000.00 01/05/18
01/09/18 17,960.00
2,140.00 01/14/18
1,940.00 01/17/18
1,230.00 01/21/18
01/24/18 27,920.00
10,350.00 01/26/18
9,500.00 01/29/18
237,880.00 77,070.00
160,810.00

CASH (100)
DEBIT CREDIT
01/01/18 -
- 01/03/18
- 01/04/18
32,000.00 01/05/18
01/09/18 17,960.00
- 01/14/18
- 01/17/18
- 01/21/18
01/24/18 -
- 01/26/18
- 01/29/18
17,960.00 32,000.00
- 14,040.00

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