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Bookkeeping T-Accounts

1. The document appears to be an accounting lesson from Biliran Province State University that instructs a student named Wenibet Silvano to analyze transactions, make T-accounts, and determine account balances. 2. It provides a table with sample transactions from August 1-20 debiting and crediting accounts like Cash, Capital, Supplies, and Service Revenue. 3. By August 20th, total assets of ₱195,000 equal total liabilities and capital of ₱195,000 according to the accounting equation.

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Wenibet Silvano
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14 views5 pages

Bookkeeping T-Accounts

1. The document appears to be an accounting lesson from Biliran Province State University that instructs a student named Wenibet Silvano to analyze transactions, make T-accounts, and determine account balances. 2. It provides a table with sample transactions from August 1-20 debiting and crediting accounts like Cash, Capital, Supplies, and Service Revenue. 3. By August 20th, total assets of ₱195,000 equal total liabilities and capital of ₱195,000 according to the accounting equation.

Uploaded by

Wenibet Silvano
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Republic of the Philippines

BILIRAN PROVINCE STATE UNIVERSITY


ISO 9001: 2015 CERTIFIED

SCHOOL OF ARTS AND SCIENCES

Name: Wenibet Silvano Instructor: Mary Grace Turcolas

Year & Section: BSBA – FM 2H Subject: Advance Bookkeeping

Instruction:

Analyze the transactions given in the lesson.


Make T- account for each accounts and post amount of the transaction to its debit or credit.
Determine the balances of each account by subtracting the total debits to total credits.
Fill in below format of the balances. Assets must equal to Liabilies and Capital.
Answer questions below.

FOLLOWING THE ACCOUTING EQUATION


Assets = Liabilies + (Capital - Drawing + Revenue - Expenses)

ASSETS = LIABILITIES CAPITAL (DRAWING) REVENUES (EXPENSES)

Date Account Debit Credit

Aug. Cash ₱ Cash Capital Supplies Account Service


1 100,000 Receivable Revenue
.00
Main Campus, P. Inocentes St., P.I. Garcia, Naval, Biliran Province, Philippines 6560
Tel. (053) 507-0014‫ ן‬Telefax. (053) 507-0014
SUC Level III-A (Per DBM-CHED Joint Circular #B dated June 21, 2007
Website: www.bipsu.edu.ph | Email: sas@bipsu.edu.ph | Facebook: www.facebook.com/iambipsusas

WoWBiPSU
Republic of the Philippines
BILIRAN PROVINCE STATE UNIVERSITY
ISO 9001: 2015 CERTIFIED

SCHOOL OF ARTS AND SCIENCES

Capital ₱ 100,000 100,0 50,000 11,0 15,000 15,0 15,000 VIC COMPUTER AND
100,000 50,0 00 00 00 ELECTRONIC SERVICES
.00 00

T- Balance
25,000 8,00 25,000
0

Aug. Supplies ₱ As of Aug. 1 - Aug. 20


2 50,000. 15,000
00

Cash ₱ Account Debit Credi


50,000. t
00

Cash
140,000 58,0 82,00
.00 00 0

Aug. Account ₱ Bal: Bal: Bal: Bal: Capital


5 Receiva 15,000. 100,0
ble 00 00

Service ₱ Bal: 100,0 40,000 Supplies


Revenu 15,000. 00 39,000. - 39,00
e 00 00 0

Main Campus, P. Inocentes St., P.I. Garcia, Naval, Biliran Province, Philippines 6560
Tel. (053) 507-0014‫ ן‬Telefax. (053) 507-0014
SUC Level III-A (Per DBM-CHED Joint Circular #B dated June 21, 2007
Website: www.bipsu.edu.ph | Email: sas@bipsu.edu.ph | Facebook: www.facebook.com/iambipsusas

WoWBiPSU
Republic of the Philippines
BILIRAN PROVINCE STATE UNIVERSITY
ISO 9001: 2015 CERTIFIED

SCHOOL OF ARTS AND SCIENCES

(zero) Account 0
82,000. Receiva
00 ble

Aug. Cash ₱ Service


7 25,000. Revenu 40,00
00 e 0

Service ₱ Equipm
Revenu 25,000. ent 55,00
e 00 0

Rent
Expense 5,000

Aug. Cash ₱ Utilities


16 15,000. Expense 3,000
00

Account ₱ Equipment Rent Expense Utilities Supplies Loan Supplies


Receiva 15,000. Expense Expense Payable Expense 11,00
ble 00 0

55,000 5,000 3,000 11,000 55,000 Loan


Payable 55,00
0

Aug. Equipm ₱
Main Campus, P. Inocentes St., P.I. Garcia, Naval, Biliran Province, Philippines 6560
Tel. (053) 507-0014‫ ן‬Telefax. (053) 507-0014
SUC Level III-A (Per DBM-CHED Joint Circular #B dated June 21, 2007
Website: www.bipsu.edu.ph | Email: sas@bipsu.edu.ph | Facebook: www.facebook.com/iambipsusas

WoWBiPSU
Republic of the Philippines
BILIRAN PROVINCE STATE UNIVERSITY
ISO 9001: 2015 CERTIFIED

SCHOOL OF ARTS AND SCIENCES

19 ent 55,000.
00

Loan ₱ Total
Payable 55,000. 195,0 195,0
Amount 00 00 00

Aug. Rent ₱
20 Expense 5,000.0
0

Utilities ₱ Bal: Bal: Bal: Bal: Bal:


3,000.0
0

Cash ₱
8,000.0 55,000. 5,000. 3,000.0 11,000. 55,000.
0 00 00 0 00 00

Aug. Supplies ₱
20 Expense 11,000.
00

Supplies ₱
Main Campus, P. Inocentes St., P.I. Garcia, Naval, Biliran Province, Philippines 6560
Tel. (053) 507-0014‫ ן‬Telefax. (053) 507-0014
SUC Level III-A (Per DBM-CHED Joint Circular #B dated June 21, 2007
Website: www.bipsu.edu.ph | Email: sas@bipsu.edu.ph | Facebook: www.facebook.com/iambipsusas

WoWBiPSU
Republic of the Philippines
BILIRAN PROVINCE STATE UNIVERSITY
ISO 9001: 2015 CERTIFIED

SCHOOL OF ARTS AND SCIENCES

11,000.
00

BALANCE SHEET
How much is the total assets?
How much is the total liabilites?
How much is the total capital?

INCOME STATEMENT
How much is the net income of Vic for the month of August ?

Main Campus, P. Inocentes St., P.I. Garcia, Naval, Biliran Province, Philippines 6560
Tel. (053) 507-0014‫ ן‬Telefax. (053) 507-0014
SUC Level III-A (Per DBM-CHED Joint Circular #B dated June 21, 2007
Website: www.bipsu.edu.ph | Email: sas@bipsu.edu.ph | Facebook: www.facebook.com/iambipsusas

WoWBiPSU

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