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    Principles of Accounting 1 Final Course Requirement Date Submitted: 16 March 2012 I. Chart of accounts Klein Designs Chart of Accounts Assets 11 12 13 14 15 Cash Accounts Receivable Supplies Equipment Truck Owner's Equity 31 32 Klein, capital Klein, personal Income 41 Service Income Liabilities 21 22 Accounts Payable Notes Payable expense 51 52 53 54 55 56 Insurance Expense Miscellaneous Expense Rent Expense Truck Repair Expense Utility Expense Wage Expense Ledger

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    Principles of Accounting 1 Final Course Requirement Date Submitted: 16 March 2012 I. Chart of accounts Klein Designs Chart of Accounts Assets 11 12 13 14 15 Cash Accounts Receivable Supplies Equipment Truck Owner's Equity 31 32 Klein, capital Klein, personal Income 41 Service Income Liabilities 21 22 Accounts Payable Notes Payable expense 51 52 53 54 55 56 Insurance Expense Miscellaneous Expense Rent Expense Truck Repair Expense Utility Expense Wage Expense Ledger

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    49 views5 pages

    Principles of Accounting 1

    Uploaded by

    Jang Geun Suk
    Principles of Accounting 1 Final Course Requirement Date Submitted: 16 March 2012 I. Chart of accounts Klein Designs Chart of Accounts Assets 11 12 13 14 15 Cash Accounts Receivable Supplies Equipment Truck Owner's Equity 31 32 Klein, capital Klein, personal Income 41 Service Income Liabilities 21 22 Accounts Payable Notes Payable expense 51 52 53 54 55 56 Insurance Expense Miscellaneous Expense Rent Expense Truck Repair Expense Utility Expense Wage Expense Ledger

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 5

    Principles of Accounting 1

    Final Course Requirement

    Submitted to: Prof. C.D. Revilla, CPA

    Submitted by: Ms. Encelan, Wimbelle Kaycee V.

    Date Submitted: 16 March 2012

    I.

    Chart of accounts

    Klein Designs Chart of Accounts

    Assets 11 12 13 14 15 Cash Accounts Receivable Supplies Equipment Truck

    Owners Equity 31 32 Klein, capital Klein, personal

    Income 41 Service Income

    Liabilities 21 22 Accounts Payable Notes Payable

    Expense 51 52 53 54 55 56 Insurance Expense Miscellaneous Expense Rent Expense Truck Repair Expense Utility Expense Wage Expense

    III.

    Ledger posting Cash Acct. No. 11 Explanation


    4 8 10 15 17 19 Purchase of supplies Purchase of truck Monthly rent Wages of workers Insurance expense Partial payment of account used to purchase an equipment Utility expense Miscellaneous expense Wages of workers Drawing account

    Date
    June 1 12 21 28

    Explanation
    Initial Investment Service rendered Service rendered Payment of customer accounts Balance

    F
    J-1 J-1 J-2

    Debit
    P500,000 P200,000 P 90,000

    Date
    June

    F
    J-1 J-1 J-1 J-1 J-1 J-1

    Credit
    P25,000 P80,000 P 5,000 P60,000 P 2,000 P15,000

    J-2

    P100,000 P890,000 P606,000

    25 27 30 30

    J-2 J-2 J-2 J-2

    P 1,500 P 500 P75,000 P20,000 P284,000 P606,000 P890,000

    Accounts Receivable Date


    June 20

    Acct. No. 12 Explanation F


    J-2

    Explanation
    Service rendered Balance

    F
    J-2

    Debit
    P250,000 P150,000

    Date
    June 28

    Credit
    P100,000 P150,000 P250,000

    Partial payment of accounts

    Supplies Date
    June 4 13

    Acct. No. 13 Explanation F Credit

    Explanation
    Investment Investment Balance

    F
    J-1 J-1

    Debit
    P25,000 P40,000 P65,000

    Date

    Equipment Date
    June 6

    Acct. No. 14 Explanation F Credit

    Explanation
    Investment

    F
    J-1

    Debit
    P30,000

    Date

    Truck Date
    June 8

    Acct. No. 15 Date Explanation F Credit

    Explanation
    Investment

    F
    J-1

    Debit
    P150,000

    Accounts Payable Date


    June 19

    Acct. No. 21 Explanation


    6 Purchase of equipment Purchase of supplies Truck repair service Balance

    Explanation
    Partial payment of account

    F
    J-1

    Debit
    P15,000 P59,000 P74,000

    Date
    June

    F
    J-1 J-1 J-2

    Credit
    P30,000 P40,000 P4,000 P74,000 P59,000

    13 24

    Notes Payable Date Explanation F Debit Date


    June 8

    Acct. No. 22 Explanation


    Purchase of truck

    F
    J-1

    Credit
    P70,000

    Klein, capital Date Explanation F Debit Date


    June 1

    Acct. No. 31 Explanation


    Initial Investment

    F
    J-1

    Credit
    P500,000

    Klein, personal Date


    June 30

    Acct. No. 32 Explanation F Credit

    Explanation
    Drawing account

    F
    J-2

    Debit
    P20,000

    Date

    Service Income Date Explanation F Debit Date


    June 12 20 21

    Acct. No. 41 Explanation


    Service rendered Service rendered Service rendered Balance

    F
    J-1 J-2 J-2

    Credit
    P200,000 P250,000 P90,000 P540,000

    Insurance Expense Date


    June 17

    Acct. No. 51 Explanation F Credit

    Explanation
    Payment for property and casualty insurance

    F
    J-1

    Debit
    P2,000

    Date

    Miscellaneous Expense Date


    June 27

    Acct. No. 52 Explanation F Credit

    Explanation
    Payment for other expenses

    F
    J-2

    Debit
    P500

    Date

    Rent Expense Date


    June 10

    Acct. No. 53 Explanation F Credit

    Explanation
    Monthly rental

    F
    J-1

    Debit
    P5,000

    Date

    Truck Repair Expense Date


    June 24

    Acct. No. 54 Explanation F Credit

    Explanation
    Truck repair service

    F
    J-2

    Debit
    P4,000

    Date

    Utility Expense Date


    June 25

    Acct. No. 55 Explanation F Credit

    Explanation
    Monthly Utility

    F
    J-2

    Debit
    P1,500

    Date

    Wage Expense Date


    June 15 30

    Acct. No. 56 Explanation F Credit

    Explanation
    Wages of workers Wages of workers Balance

    F
    J-1 J-2

    Debit
    P60,000 P75,000 P135,000

    Date

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