Transaction

Dr. Paul borrowed ₱420,000 from her father, issuing a personal promissory note. She invested this money in the business.
Facial services rendered to Ms. Chua on account ₱18,000
Paid taxes and licenses ₱2,500
Medical services for cash from walk-in customers, ₱8,000
Borrowed ₱200,000 from Mr. Ga Lee Sin, signing a non-interest-bearing note
Bought medical equipment on credit from A store, ₱22,000
Dr. Paul made a personal withdrawal of ₱5,000
Paid utilities, ₱3,200
Collected account from Ms. Chua in full
Full settlement of account with A Store
Dr. Paul invested in a computer worth ₱75,000 with a 20% unpaid balance to be assumed by the business.
assets liabilities owners equity
420,000 cash 420,000 dr.Paul, capital
18,000(-18000)
-2500 cash -2500 taxes expense
8000 cash 8000 service income

22000 machinery 22000 accounts payable

5000 cash 5000 dr.paul, drawing
-3200 cash -3200 utilities expense
18000 cash 18000 service income
-22000 cash -22000 accounts payable

445300 0 445300
445300
 GENERAL LEDGER
Cash 1

DATE EXPLANATION JR

2024
July 1 Owner invested cash in the business J-1
3 Purchased land for future repair site with cash J-1
4 Paid cash to bank creditors J-1
5 owner withdrew cash for personal use J-1
6 Paid cash for site and equipment rent for the month J-1
7 paid utilities with cash to meralco J-1
8 owner invested personal funds in the business J-1
9 received cash for a cash service call J-1
11 received cash from customers for services J-1
15 collected notes receivable from customer J-2
16 paid salary of security guard J-2
17 paid transportation of car repairman J-2
17 rendered home car repair service for cash J-2
18 borrowed cash and issued a note to life savings bank J-2
19 paid notes payable with cash J-2
21 paid supplies with cash j-2
25 paid telephone and internet bill with cash J-2
30 paid advance rent to a parking lot J-2

Supplies

DATE EXPLANATION JR

2024
july 2 purchased supplies on account J-1
10 owner withdrew supplies for personal use J-1

Notes Receivable

DATE EXPLANATION JR

2024
july 14 received note from customer for services J-1
15 collected notes receivable from customer J-1
 Land 1

DATE EXPLANATION JR

2024
July 3 purchased land for future repair site with cash J-1

Tools 11

DATE EXPLANATION JR

2024
July 12 purchased tools on account J-1
13 returned half of the tools purchased on july 12 J-1

Prepaid Rent

DATE EXPLANATION JR

2024
July 30 Paid advance rent to a parking lot J-1

Accounts Payable

DATE EXPLANATION JR

2024
July 2 purchased supplies on account
4 paid cash to bank creditors
12 purchased tools on account
13 returned half of the tools purchased on july 12
21 paid supplies with cash

Notes Payable

DATE EXPLANATION JR

2024
July 18 borrowed cash and issued a note to life savings bank
19 paid notes payable with cash

R. Corpuz, Capital
DATE EXPLANATION JR

2024
July 1 owner invested cash in the business
8 owner invested personal funds in the business

R. Corpuz, Drawing

DATE EXPLANATION JR

2024
July 5 owner withdrew cash for personal use
10 owner withdrew supplies for personal use

Service Income

DATE EXPLANATION JR

2024
July 9 received cash for a cash service call
11 received cash from customers for services
14 received note from customer for services
17 rendered home car repair service for cash

Salaries Expense

DATE EXPLANATION JR

16 paid salary of security guard

Rent Expense

DATE EXPLANATION JR

6 Paid cash for site and equipment rent for the month

Utilities Expense

DATE EXPLANATION JR

7 paid utilities with cash to meralco

25 Paid telephone and intenret bill with cash
 Transportation Expense

DATE EXPLANATION JR

17 paid transporation of car repairman

GER
101

DEBIT CREDIT BALANCE

500,000
140,000
18,000
25,000
28,000
10,000
100,000
5,000
50,000
85,000
15,000
1,000
5,000
15,000
15,000
20,000
2,500
5,000
760,000 279,500 480,500

106

DEBIT CREDIT BALANCE

20,000
6,000

20,000 6,000 14,000

103

DEBIT CREDIT BALANCE

85,000
85,000 0
 115

DEBIT CREDIT BALANCE

140,000
140,000

114

DEBIT CREDIT BALANCE

10,000
5,000 5,000

107

DEBIT CREDIT BALANCE

5,000

201

DEBIT CREDIT BALANCE

20,000
18,000
10,000
5,000
20,000
43,000 30,000 13,000

202

DEBIT CREDIT BALANCE

15,000
15,000 0

301
DEBIT CREDIT BALANCE
 500,000
100,000
600,000
600,000

302

DEBIT CREDIT BALANCE

25,000
6,000
31,000 31,000

402

DEBIT CREDIT BALANCE

5,000
50,000
85,000
5,000 145,000

501

DEBIT CREDIT BALANCE

15,000

502

DEBIT CREDIT BALANCE

28,000

503

DEBIT CREDIT BALANCE

10,000
2,500
12,500 12,500
e 508

DEBIT CREDIT BALANCE

1,000
 Corpuz Car Repair Services
Trial Balance
31-Oct-24
Debit Credit
Cash 480,500
Notes Receivable ₱0 0
Supplies ₱14,000
Prepaid Rent ₱5,000
Tools ₱5,000
Land ₱140,000
Accounts Payable ₱13,000
Notes Payable 0 ₱0
R. Corpuz, Capital ₱600,000
R. Corpuz, Drawing 31000
Service Income ₱145,000
Salaries Expense 15000
Rent Expense ₱28,000
Utilities Expense 12500
Transportation Expense ₱1,000

₱745,000 ₱745,000
 Credit

₱0
₱600,000

₱145,000

₱745,000