Answer:
a. Journal Entry:
python
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Date Account Debit Credit
---------------------------------------------------------------------
July 1 Cash 500,000.00
Computer Equipment 80,000.00
Owner's Capital 580,000.00
July 2 Rent Expense 15,000.00
July 4 Equipment 12,000.00
Accounts Payable 12,000.00
July 8 Cash 32,000.00
Service Revenue 32,000.00
July 10 Accounts Receivable 27,000.00
Service Revenue
July 12 Equipment 8,000.00
Cash 8,000.00
July 15 Salary Expense 6,200.00
Cash 6,200.00
July 18 Cash 15,000.00
Accounts Receivable 15,000.00
July 25 Accounts Payable 12,000.00
Cash 12,000.00
July 28 Owner's Withdrawals 500.00
Cash 500.00
July 30 Cash 40,000.00
Unearned Revenue 40,000.00
July 31 Salary Expense 700.00
Cash 700.00
July 31 PLDT Bill Expense 1,800.00
Meralco Bill Expense 3,800.00
Cash 5,600.00
b. Ledger - T Account:
markdown
Cash Account
-------------------------------------------------
Date Description Debit Credit
Jul 1 Owner's Capital 500,000.00
Jul 4 12,000.00
Jul 8 32,000.00
Jul 12 8,000.00
Jul 15 Salary Expense 6,200.00
Jul 18 Accounts Receivable 15,000.00
Jul 25 12,000.00
Jul 28 Owner's Withdrawals 500.00
Jul 30 40,000.00
Jul 31 PLDT Bill Expense 1,800.00
700.00
593,300.00 38,700.00
Computer Equipment Account
Jul 1 80,000.00
80,000.00
Equipment Account
20,000.00
Accounts Payable Account
Jul 25 Cash 12,000.00
12,000.00
Owner's Capital Account
Jul 1 Cash 500,000.00
500,000.00
Rent Expense Account
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Answers & Comments
Answer:
a. Journal Entry:
python
Copy code
Date Account Debit Credit
---------------------------------------------------------------------
July 1 Cash 500,000.00
Computer Equipment 80,000.00
Owner's Capital 580,000.00
July 2 Rent Expense 15,000.00
July 4 Equipment 12,000.00
Accounts Payable 12,000.00
July 8 Cash 32,000.00
Service Revenue 32,000.00
July 10 Accounts Receivable 27,000.00
Service Revenue
July 12 Equipment 8,000.00
Cash 8,000.00
July 15 Salary Expense 6,200.00
Cash 6,200.00
July 18 Cash 15,000.00
Accounts Receivable 15,000.00
July 25 Accounts Payable 12,000.00
Cash 12,000.00
July 28 Owner's Withdrawals 500.00
Cash 500.00
July 30 Cash 40,000.00
Unearned Revenue 40,000.00
July 31 Salary Expense 700.00
Cash 700.00
July 31 PLDT Bill Expense 1,800.00
Meralco Bill Expense 3,800.00
Cash 5,600.00
---------------------------------------------------------------------
b. Ledger - T Account:
markdown
Copy code
Cash Account
-------------------------------------------------
Date Description Debit Credit
-------------------------------------------------
Jul 1 Owner's Capital 500,000.00
Jul 4 12,000.00
Jul 8 32,000.00
Jul 12 8,000.00
Jul 15 Salary Expense 6,200.00
Jul 18 Accounts Receivable 15,000.00
Jul 25 12,000.00
Jul 28 Owner's Withdrawals 500.00
Jul 30 40,000.00
Jul 31 PLDT Bill Expense 1,800.00
Meralco Bill Expense 3,800.00
700.00
-------------------------------------------------
593,300.00 38,700.00
-------------------------------------------------
Computer Equipment Account
-------------------------------------------------
Date Description Debit Credit
-------------------------------------------------
Jul 1 80,000.00
-------------------------------------------------
80,000.00
-------------------------------------------------
Equipment Account
-------------------------------------------------
Date Description Debit Credit
-------------------------------------------------
Jul 4 12,000.00
Jul 12 8,000.00
-------------------------------------------------
20,000.00
-------------------------------------------------
Accounts Payable Account
-------------------------------------------------
Date Description Debit Credit
-------------------------------------------------
Jul 4 12,000.00
Jul 25 Cash 12,000.00
-------------------------------------------------
12,000.00
-------------------------------------------------
Owner's Capital Account
-------------------------------------------------
Date Description Debit Credit
-------------------------------------------------
Jul 1 Cash 500,000.00
-------------------------------------------------
500,000.00
-------------------------------------------------
Rent Expense Account
-------------------------------------------------
Date Description Debit Credit