The Trial Balance of Bernal Laundry Services on March 31, 2014 follows: Bernal Laundry Services Trial...
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The Trial Balance of Bernal Laundry Services on March 31, 2014 follows: Bernal Laundry Services Trial Balance For the Month Ended March 31, 2014 21 23 Account Title 25 29 30 Cash Accounts Receivable Accounts Payable Unearned Laundry Revenue Bernal, Capital Total During June, the business engaged in the following transactions: June 1 Purchased Laundry Supplies on account, P3,000. 2 10 15 16 20 Debit P 265,000 45,000 P 285,000 P 310,000 P 310,000 Paid the following expenses: utilities, P 2,000 and rent, 10,000. % of the unearned laundry revenue had been earned. Received a P12,000 utilities bill, due next week. Withdrew P18,000 for personal use. Paid salaries, P7,000. Required: 1. Prepare the Chart of Account using the following accounts: 2. Prepare the journal entries. 3. Post all the journal entries to the ledger. 4. Prepare a trial balance of Bernal Laundry Services. Credit Performed Services for a costumer and received cash of P 50,000. Bought Laundry Equipment on account from DMX Company, P35,000. Paid salaries, P 7,000. Paid DMX Company, P12,000. Received P31,000 on account. 20,000 5,000 Cash (110); Accounts Receivable (120); Laundry Supplies (130); Equipment (140); Accounts Payable (210); Unearned Laundry Revenue (220); Bernal, Capital (310); Bernal, Withdrawal (320); Income Summary (330); Laundry Revenue (410); Salaries Expense (510); Rent Expense (520); Utilities Expense (530) The Trial Balance of Bernal Laundry Services on March 31, 2014 follows: Bernal Laundry Services Trial Balance For the Month Ended March 31, 2014 21 23 Account Title 25 29 30 Cash Accounts Receivable Accounts Payable Unearned Laundry Revenue Bernal, Capital Total During June, the business engaged in the following transactions: June 1 Purchased Laundry Supplies on account, P3,000. 2 10 15 16 20 Debit P 265,000 45,000 P 285,000 P 310,000 P 310,000 Paid the following expenses: utilities, P 2,000 and rent, 10,000. % of the unearned laundry revenue had been earned. Received a P12,000 utilities bill, due next week. Withdrew P18,000 for personal use. Paid salaries, P7,000. Required: 1. Prepare the Chart of Account using the following accounts: 2. Prepare the journal entries. 3. Post all the journal entries to the ledger. 4. Prepare a trial balance of Bernal Laundry Services. Credit Performed Services for a costumer and received cash of P 50,000. Bought Laundry Equipment on account from DMX Company, P35,000. Paid salaries, P 7,000. Paid DMX Company, P12,000. Received P31,000 on account. 20,000 5,000 Cash (110); Accounts Receivable (120); Laundry Supplies (130); Equipment (140); Accounts Payable (210); Unearned Laundry Revenue (220); Bernal, Capital (310); Bernal, Withdrawal (320); Income Summary (330); Laundry Revenue (410); Salaries Expense (510); Rent Expense (520); Utilities Expense (530)
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1 Chart of Accounts Cash 110 Accounts Receivable 120 Laundry Supplies 130 Equipment 140 Accounts Payable 210 Unearned Laundry Revenue 220 Bernal Capital 310 Bernal Withdrawal 320 Income Summary 330 La... View the full answer
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
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