Professional Documents
Culture Documents
Date:
PROBLEM 1
Queens Beauty Parlor was formed on June 1, of the current year by Johnny Bee.
The transactions for the first month of operations are listed below.
June 1
10
13
15
17
The owner withdrew P2, 600 cash for his personal use.
19
24
25
30
Instructions:
1. Record the transactions in the general journal that follows, and post to the
ledger using the following account titles: Cash (11); Accounts Recievables
(12); Supplies (13); Equipment (14); Furniture and fixtures (15); Accounts
Payable (21); Notes Payable (22); Johnny Bee, Capital(31); Johnny Bee,
Drawing(32); Service Sales (41); Salaries Expense(51); Rent Expenses
(52); Utilities Expense (53); and Miscellaneous Expense (59).
2. Prepare a trial balance.
PROBLEM 2
Jun Tandoc opened a real estate business and during a short period as an agent
completed these business transactions:
Jan. 1
Instructions:
1. Record the transactions in the general journal that follows, and post to the
ledger using the following account titles: Cash (11); Accounts Recievables
(12); Office Supplies (13); Office Equipment (14); Automobile (15);
Building (16); Land (17); Accounts Payable (21); Notes Payable (22);
J.Tandoc, Capital(31); ); J.Tandoc, Drawing(32); Commission Earned
(41); Office Salaries Expense(51); Advertising Expense (52); and Utilities
Expense (53).
2. Post the journal entries to the ledger.
3. Prepare a trial balance.