NOTRE DAME OF DADIANGAS UNIVERSITY

Integrated Basic Education

Junior High School
Lagao, General Santos City

JOURNAL
DATE PARTICULAR FOLIO DEBIT CREDIT
2015
May 1
Cash P260,000
Group3’s , Capital P260,000
Invested cash for a business
#
May 4 Supplies 60,000
Account Payable 60,000
Purchased supplies on account
#
May 8 Equipment 13,200
Cash 3,200
Account payable 10,000
Purchased aircon
#
May 10 Salary Expense 9,000
Cash 9,000
Paid salary expense
#
May 10 Rent expense 10,000
Cash 10,000
Paid rent expense for the month
of May
#
May 13 Cash 15,000
Service Revenue 15,000
Performed service to the
costumers
#
May 15 Account receivable 15,300
Service Revenue 15,300
Cash 2,700
Account receivable 2,700
Received cash for the service
rendered
#
May 18 Tax expense 9,000
Cash 9,000
Paid advertising to GMA
#
May 21 Tax expense 2,900
Cash 2,900
Paid business permit
#
May 23 Cash 6,000
Account receivable 6,000
Collected cash from costumers
#
May 24 Group3’s, Drawing 1,000
Cash 1,000
Withdraw money for personal use
#

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May 25 Accounts payable 30,000
Cash 30,000
Paid half payment in great fitness
supplies
#
Dec 31 Utility expense 5,000
Accounts payable 5,000
To record accrued expense
#
Dec 31 Accounts receivable 3,000
Service Income 3,000
To record accrued income
#
Dec 31 Bad depts 3000
Allowance for bad depts 3000
To record bad depts
#

NOTRE DAME OF DADIANGAS UNIVERSITY

Integrated Basic Education
Junior High School
Lagao, General Santos City

CASH
NO. 101

Date Particular Ref DEBIT CREDIT BALANCE

2015
May 1 Investment J1 P260, ₱260,000
000
May 4 Purchased J1 P3,200
equipment 256,800
May 10 Paid salary J1 9,000
expense 247,800
May 10 Paid rent J1 10,000
expense 237,800
May 13 Performed J1
service 15,000 252,800
May 15 Received J1 255,500
casg 2,700
May 18 Paid J1 9,000
advertiseme 246,500
nt
May 21 Paid tax J1 2,900 243,600
expense
May 23 Collected J1 249,600
cash 6,000
May 24 Withdraw J1 1,000 248,600
money
May 24 Paid half J1 30,000 218,600

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 payment
CASH P218,600
TOTAL
BALANC
E

ACCOUNTS RECEIVABLE
NO. 102

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 15 Performed J1 ₱15,3 ₱15,300
service on 00
account
May 15 Received J1 12,600
cash for the ₱2,700
service
rendered
May 23 Collected J1 6,600
cash for 6,000
costumers
Dec 31 To record J1 3,00
accrued 0
income
A.R ₱9,600
TOTAL
BALANC
E

SUPPLIES
NO. 103

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 4 Purchased J1 ₱60,0 ₱60,000
supplies on 00
account
SUPPLIE ₱60,000
S TOTAL
BALANC
E

EQUIPMENT
NO. 105

Date Particular Ref DEBIT BALANCE

2015 CREDIT

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 May 8 Purchased J1 ₱13,2 ₱13,200
equipment 00
EQUIPMEN ₱13,200
T TOTAL
BALANCE

FURNITURE
NO. 104

BALANCE
Date Particular Ref DEBIT
2015 CREDIT

ACCOUNTS PAYABLE
NO. 201

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 4 Purchased J1 ₱60,00 ₱60,000
supplies on 0
account
May 8 Purchased J1 70,000
aircon on 10,000
account
May 25 Paid half J1 ₱30,0 40,000
payment 00
Dec 31 To record J1
accrued 5,000
expense
A.P ₱45,000
TOTAL
BALANC
E

ROBERTO’s, CAPITAL
NO. 301

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 1 Invested cash J1 ₱260,0 ₱260,000
00
CAPITAL ₱260,000
TOTAL
BALANC

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 E

ROBERTO’s, DRAWING NO.

302

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 24 Withdraw J1 ₱1,00 ₱1,000
money 0
DRAWIN ₱1,000
G TOTAL
BALANCE

SERVICE INCOME
NO. 401

Date Particul Re DEBI BALANC

2015 ar f T CREDI E
T
May 13 Perform J1 ₱15,00 ₱15,000
ed 0
service
May 15 Perform J1 30,700
ed 15,700
service
on
account
Dec 31 To J1 ₱33,700
record 3,000
accrued
income
S.I ₱33,700
TOTAL
BALANC
E

RENT EXPENSE NO. 503

Date Particul Re DEBIT BALANC

2015 ar f CREDI E
T

Page 5 of 10
May 10 Paid J1 ₱10,0 ₱10,000
rent 00
expens
e
RENT ₱10,000
EX.
TOTAL
BALANC
E

SALARIES EXPENSE
NO. 501

Date Particular Ref DEBIT BALANCE

2015 CREDIT
May 10 Paid salary J1 ₱9,000 ₱9,000
SALARY ₱9,000
EX.
TOTAL
BALANCE

TAX EXPENSE
NO. 502

Date Particul R DEBI BALAN

2015 ar ef T CREDI CE
T
May 18 Paid J1 ₱9,0 ₱9,000
adverti 00
sing
May 21 Paid J1 2,9 11,900
busines 00
s
permit
TAX EX.
TOTAL ₱11,90
BALAN 0
CE

ELECTRICITY EXPENSE
NO. 504

Date Particu R DEBI BALANC

2015 lar ef T CREDI E
T
Dec 31 To J1 ₱5,0 ₱5,000
record 00

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 accrue
d
expens
e
ELEC. ₱5,000
TOTAL
BALANC
E

BAD DEPTS

Date Particular Re CREDI BALANC

2015 f DEBIT T E
Dec 31 To record bad J1 ₱300 ₱300
depts
BAD DEPTS TOTAL BALANCE ₱300

ALLOWANCE FOR BAD DEPTS

Date Particular Re DEBI CREDIT BALANCE

2015 f T
Dec 31 To record d J1 ₱300 ₱300
depts
ALLOWANCE FOR BAD DEPTS ₱300
TOTAL BALANCE

Jo Li Bee’s Company

Trial Balance

May 31, 2015

ACCOUNT TITLE DEBIT CREDIT

Cash ₱218,600
Accounts 9,600
Receivable
Allowance for ₱300
bad depts
Supplies 60,000

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Equipment 13,200
Accounts Payable 45,000
Roberto’s Capital 260,000
Roberto’s 1,000
Drawing
Service Income 33,300
Rent Expense 10,000
Salaries expense 9,000
Electricity 5,000
expense
Bad depts 300
expense
Tax Expense 11,900
TRIAL BALANCE ₱338,600 ₱338,600

Jo Li Bee’s Company

Statement of Performance

May 31, 2015

Page 8 of 10
Service Income: P33,700
Rent Expense: P10,000
Salaries Expense: 9,000
Tax Expense: 11,900
Electricity Expense: 5,000
Bad depts expense 300
Allowance for bad depts
Expense 300
Total Expense: (36,300)

Net Loss -2,600

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 Jo Li Bee Company
Statement of Financial Position
May 31, 2015

ASSETS:

Cash ₱ 218,600
Accounts Receivable 9,600
Supplies 60,000
Equipment 13,200
TOTAL ASSETS ₱ 301,400

LIABILITY AND CAPITAL

Accounts Payable ₱ 45,000

Bee, Capital ₱ 260,000

Bee, Drawing (1,000)
Total ₱ 259,000
Net Loss (2,600)

Bee, Capital END 256,400

TOTAL LIABILITY AND CAPITAL ₱ 301,400

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