General Journal Page 1

Date Account Title and Explanation PR Debit Credit

August 1 Cash on Hand 40,000
Cash in Bank 120,000
Furniture and Fixtures 200,000
Jon Snow, Capital 360,000
Investment

1 No entry

2 Engineering Equipment 40,000

Cash 20,000
Accounts Payable 20,000
Purchased engineering equipment.

3 Engineering Supplies Expense 15,600

Cash 5,600
Notes Payable 10,000
Purchased engineering supplies.

4 Rent Expense 4,000

Cash in Bank 4,000
Paid rent.

5 Prepaid Office Supplies 5,000

Accounts Payable 5,000
Purchased office supplies.

6 Cash on Hand 10,000

Service Income 10,000
Services rendered.

7 Cash in Bank 20,000

Engineering Equipment 15,000
Jon Snow, Capital 35,000
Additional investment.

8 Accounts Receivable 8,000

Service Income 8,000
Service rendered on account.

9 Accounts Payable 1,000

Prepaid Office Supplies 1,000
Returned office supplies.
10 Accounts Payable 2,000
Engineering Equiment 2,000
Received allowance for slightly damaged equipment.

11 Jon Snow, Drawing 1,500

Cash in Bank 1,000
Engineering Supplies 500
Withdrawal

12 Accounts Payable 18,000

Cash in Bank 18,000
Paid the balance to Robb Stark.

13 Cash on Hand 15,000

Service Income 15,000
Service rendered.

14 Advances to Employees 1,000

Cash on Hand 1,000
Employee cash advance

15 Salaries Expense 22,500

Cash in Bank 22,500
Paid salaries.

16 Cash on Hand 100,000

Loan Payable 100,000
Proceeds of bank loan.

17 Cash on Hand 8,000

Accounts Receivable 8,000
Collection.

18 Cash in Bank 5,000

Cash on Hand 5,000
Deposited cash.

19 Utilities Expense 6,500

Cash 6,500
Paid MERALCO and PLDT bill

20 Accounts Receivable 6,000

Service Income 6,000
Rendered service on account.
30 Salaries Expense 22,500
Cash in Bank 18,455
Advances to Employees 1,000
SSS Contributions Payable 1620
Pagibig Contributions Payable 300
Philhealth Contributions Payable 1125

31 Insurance Expense 24,000

Cash on Hand 24,000
Paid insurance
(take note of the credit term; check the discount period)

(Take note problem is silent whether said amount was deposited to his bank account so we assume it is not. If the problem ex
(Take note that salaries are paid through bank)

(Take note this is for a year term, in order to get the adjusted amounts you have to adjust this one)
me it is not. If the problem expressly states otherwise then debit to Cash in Bank)
 GENERAL LEDGER
Cash on Hand 01 Accounts Payable
Date Particulars PR Debit Credit Balance Date

Notes Payable
Date

Cash in Bank 02
Date Particulars PR Debit Credit Balance

SSS Contributions Payabl

Date

Accounts Receivable 03 Pagibig Contributions Pay

Date Particulars PR Debit Credit Balance Date

Philhealth Contributions
Allowance for Doubtful Accounts 04 Date
Date Particulars PR Debit Credit Balance

Withholding Tax Payable

Advances to Employees 05 Date
Date Particulars PR Debit Credit Balance

Loan Payable
Date
Prepaid Office Supplies 06
Date Particulars PR Debit Credit Balance

Prepaid Insurance 07
 Date Particulars PR Debit Credit Balance

Furniture and Fixtures 08

Date Particulars PR Debit Credit Balance

Accumulated Depreciation - Furniture and Fixtures 09

Date Particulars PR Debit Credit Balance

Engineering Equipment 10
Date Particulars PR Debit Credit Balance

Accumulated Depreciation - Engineering Equipment 11

Date Particulars PR Debit Credit Balance
Accounts Payable 20 Jon Snow, Drawing
Particulars PR Debit Credit Balance Date Particulars PR

Jon Snow, Capital

Date Particulars PR

Notes Payable 21
Particulars PR Debit Credit Balance

Service Income
Date Particulars PR

SSS Contributions Payable 22

Particulars PR Debit Credit Balance

Salaries Expense
Date Particulars PR

Pagibig Contributions Payable 23

Particulars PR Debit Credit Balance
Engineering supplies expense
Date Particulars PR

Philhealth Contributions Payable 24

Particulars PR Debit Credit Balance

Office Supplies Expense

Date Particulars PR
Withholding Tax Payable 25
Particulars PR Debit Credit Balance

Utilities Expense
Loan Payable 26 Date Particulars PR
Particulars PR Debit Credit Balance

Rent Expense
Date Particulars PR
SSS Contribution Expense
Date Particulars PR

Philhealth Contribution Expense

Date Particulars PR

EC Contribution Expense
Date Particulars PR

Pagibig Contribution Expense

Date Particulars PR

Insurance Expense
Date Particulars PR

Depreciation Expense
Date Particulars PR

Interest Expense
Date Particulars PR
 30
Debit Credit Balance

31
Debit Credit Balance

40
Debit Credit Balance

50
Debit Credit Balance

51
Debit Credit Balance

52
Debit Credit Balance

53
Debit Credit Balance

54
Debit Credit Balance
 55
Debit Credit Balance

on Expense 56
Debit Credit Balance

57
Debit Credit Balance

58
Debit Credit Balance

59
Debit Credit Balance

60
Debit Credit Balance

61
Debit Credit Balance
 Accounts Receivable Ac
Subsidiary Ledger Su
Name: Arya Corp. Name:
Address: (N/A if no information is given) No: Address:
Date Particulars PR Debit Credit Balance Date
8-Aug 8,000 8,000 1-Aug
17-Aug 8,000 - 10-Aug

Name: Sansa Corp.

Address: (N/A if no information is given) No: Name:
Date Particulars PR Debit Credit Balance Address:
20-Aug 6,000 6,000 Date
3-Aug

Name:
Address:
Date
3-Aug
9-Aug
 Accounts Payable
Subsidiary Ledger
Robb Stark
(N/A if no information is given) No:
ParticularsPR Debit Credit Balance
20,000 20,000
2,000 18,000

Tywin Lannister
(N/A if no information is given) No:
ParticularsPR Debit Credit Balance
10,000 10,000

Eddard Corp.
(N/A if no information is given) No:
ParticularsPR Debit Credit Balance
5,000 5,000
1,000 4,000
Adjusting Entries

a. Depreciation Expense
Accumulated Depreciation - Furnitures and Fixtures
Accumulated Depreciation - Engineering Equipment

b. Office Supplies Expense

Prepaid Office Supplies

c. Doubtful Accounts Expense

Allowance for Doubtful Accounts

d. Prepaid Insurance
Insurance Expense

e. Interest expense
Interest Payable
(10,000 x 6% x 28/ 360)

f. Interest expense
Interest Payable
(100,000 x 12% x 15/360)