REQUIREMENT 1
Ace Barbershop
GENERAL JOURNAL
Date
PARTICULARS
Feb-01 Cash
Ace, Capital
2 Furniture andFixture
Accounts Payable
5 Supplies
Cash
7 Cash
Service Revenue
8 Accounts Receivable
Service Revenue
10 Advertising Expense
Cash
15 Commission Expense
Cash
20 Cash
Service Revenue
21 Rent expense
Cash
24 Accounts Payable
Cash
25 Service Income
Accounts Receivable
Cash
Accounts Receivable
28 Utilities Expense
Cash
29 Ace, Drawings
Cash
Ace Barbershop
GENERAL JOURNAL
PARTICULARS P.R.
Ace, Capital
To record the investment of the owner
Furniture andFixture
Accounts Payable
To record the furnitures and fixtures bought on account
Cash
To record the supplies purchased
Service Revenue
To record the service rendered for cash
Accounts Receivable
Service Revenue
To record the service rendered on account
Advertising Expense
Cash
To record the advertising paid
Commission Expense
Cash
To record the commissions paid
Service Revenue
To record the service rendered for cash
Rent expense
Cash
To record the rent paid
Accounts Payable
Cash
To record the accounts paid
Service Income
Accounts Receivable
Accounts Receivable
Utilities Expense
Cash
To record the utilities paid
Ace, Drawings
Cash
To record the drawings of the owner
Balance
Requirement 2
GJ-1
GEN
Debit Credit
₱ 300,000.00
₱ 300,000.00 Date
Feb-01
5-Feb
₱ 200,000.00 Feb-07
₱ 200,000.00 10-Feb
Feb-15
20-Feb
₱ 30,000.00 Feb-21
₱ 30,000.00 24-Feb
Feb-25
Feb-28
₱ 20,000.00 Feb-29
₱ 20,000.00
Account: Accounts Receivable
₱ 30,000.00 Date
₱ 30,000.00 8-Feb
Feb-25
Feb-25
₱ 10,000.00
₱ 10,000.00
Date
5-Feb
₱ 10,000.00
₱ 10,000.00
₱ 25,000.00
₱ 25,000.00
Account: Furnitures and Fixtures
Date
₱ 15,000.00 2-Feb
₱ 15,000.00
₱ 50,000.00
₱ 50,000.00
GENERAL
₱ 5,000.00
₱ 5,000.00
Date
₱ 25,000.00 2-Feb
₱ 25,000.00 24-Feb
₱ 8,000.00
₱ 8,000.00
Date
Feb-01
₱ 10,000.00
₱ 10,000.00
Date
Feb-29
₱ 738,000.00 ₱ 738,000.00
GENERAL L
Date
Feb-07
8-Feb
20-Feb
Feb-25
Date
Feb-21
Date
Feb-28
Account: Advertising Expense
Date
10-Feb
Account: Commission Expense
Date
Feb-15
quirement 2
Ace Barbershop
GENERAL LEDGERS FOR ASSETS
Account: Cash No.
Particular JR Debit (+) Credit (-)
Investment of the owner 300,000
Supplies purchased 30,000
Service rendered 20,000
Advertising paid 10,000
commissions paid 10,000
Service rendered 25,000
Paid rent 15,000
Accounts paid 50,000
Collection of Receivable 25,000
Utilities paid 8,000
Drawings 10,000
Account: Accounts Receivable No.
Particular JR Debit (+) Credit (-)
Service rendered 30,000
Dispute 5,000
Collection of Receivable 25,000
Account: Supplies No.
Particular JR Debit (+) Credit (-)
Supplies purchased 30,000
Account: Furnitures and Fixtures No.
Particular JR Debit (+) Credit (-)
Furnitures and fixtures bought 200,000
GENERAL LEDGERS FOR LIABILITIES & EQUITY
Account: Accounts Payable No.
Explanation JR Debit (-) Credit (+)
Furnitures and fixtures bought 200,000
Accounts paid 50,000
Account: Ace, Capital No.
Explanation JR Debit (-) Credit (+)
Investment of the owner 300,000
Account: Ace, Withdrawals No.
Particular JR Debit (+) Credit (-)
Drawings 10,000
GENERAL LEDGER FOR REVENUE AND EXPENSES
Service Revenues No.
Explanation JR Debit (-) Credit (+)
Service rendered 20,000
Service rendered 30,000
Service rendered 25,000
Dispute 5,000
Account: Rent Expense No.
Particular JR Debit (+) Credit (-)
Paid rent 15,000
Account: Utilities Expense No.
Particular JR Debit (+) Credit (-)
Utilities paid 8,000
Account: Advertising Expense No.
Particular JR Debit (+) Credit (-)
Advertising paid 10,000
Account: Commission Expense No.
Particular JR Debit (+) Credit (-)
commissions paid 10,000
Requirement 3
Ace Barbershop
Unadjusted Trial Balance
February 28, 2018
Particulars
Cash
Accounts Receivable
BALANCE Supplies
300,000 Furnitures and Fixtures
270,000 Accounts Payable
290,000 Ace, Capital
280,000 Ace, Drawings
270,000 Service Revenues
295,000 Rent Expense
280,000 Utilities Expense
230,000 Advertising Expense
255,000 Commissions Expense
247,000 Totals
237,000
BALANCE
30,000
25,000
-
BALANCE
30,000
BALANCE
200,000
BALANCE
200,000
150,000
150,000
BALANCE
300,000
BALANCE
10,000
BALANCE
20,000
50,000
75,000
70,000
BALANCE
15,000
BALANCE
8,000
BALANCE
10,000
BALANCE
10,000
rbershop
Trial Balance
y 28, 2018
Debit Credit
237,000.00
-
30,000.00
200,000.00
150,000.00
300,000.00
10,000.00
70,000.00
15,000.00
8,000.00
10,000.00
10,000.00
₱ 520,000.00 ₱ 520,000.00
