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    Journal Entries

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    kim

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    Journal Entries

    Uploaded by

    kim
    36 views6 pages

    Original Title

    JOURNAL-ENTRIES.xlsx

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    36 views6 pages

    Journal Entries

    Uploaded by

    kim

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    FIRST YEAR OF OPERATIONS

    JOURNAL ENTRIES

    Cash 35,000,000
    Christian, Capital 5,000,000
    Kim, Capital 5,000,000
    Francis, Capital 5,000,000
    Dorothy, Capital 5,000,000
    Hazel, Capital 5,000,000
    Pauline, Capital 5,000,000
    Dianne, Capital 5,000,000

    Land 7,500,000
    Cash 7,500,000

    Building 20,000,000
    Cash 20,000,000

    Equipment 47,650
    Cash 47,650

    Depreciation Expense 506540


    Accumulated Depreciation 506540

    Utilities Expense 36,000


    Cash 36000

    Taxes and Licenses 76,500


    Cash 76,500

    Payroll Tax Expense 22,080


    SSS Payable 15,600
    Philhealth Payable 2,640
    HDMF Payable 3,840

    Salaries Expense 192,000


    SSS Payable 7,680
    Philhealth Payable 2,640
    HDMF Payable 3,840
    Cash 177,840

    SSS Payable 23,280


    Philhealth Payable 5,280
    HDMF Payable 7,680
    Cash 36,240

    Prepaid Supplies 2715


    Cash 2715

    supplies expense 2715


    prepaid supplies 2715

    Cash ₱ 2,736,000.00
    Rent Income ₱ 2,736,000.00

    Cash 456,000
    Refundable Security Deposit 456,000
    NOTES

    Note 3 - Cash
    Amount
    Cash on Hand
    Cash in Bank

    Note XX - Equipment
    Amount
    Exhaust Fan 900
    Fire Extinguisher 12,000
    Fire Alarm 2,250

    Emergency Light 6,500


    CCTV Cam Set 6,000
    Desktop Set 20,000
    47650

    Utilities

    Taxes and Licenses


    Sec Registration 115,000
    Mayor's Permit 5,000
    BIR Registration and Certificate 500
    DTI Registration 500
    VAT Registration 500

    Depreciation Expense
    Supplies
    Amount
    Lights 1,500
    Bond Paper 90
    Pencil 50
    Ballpen 160
    Paper Clip 60
    File Folder 140
    Stapler 120
    Staple Wire 180
    Adhesive Tape 20
    Tape Dispenser 35
    Correction Tape 40
    Puncher 70
    Official Receipt 150
    Paper Fastener 100
    2715
    T-ACCOUNTS

    Cash Land Bu8iding


    Dr Cr Dr Cr Dr Cr
    35,000,000 7,500,000 7,500,000 20,000,000
    ### 20,000,000
    456,000 47,650
    36,000
    76,500
    177,840
    2715

    Equipment SSS Payable Philhealth Payable


    Dr Cr Dr Cr Dr Cr
    47,650 23,280 15,600 5,280 2,640
    7,680 2,640

    HDMF Payable
    Dr Cr
    EXPENSES 7,680 3,840
    Depreciation 3,840
    Utilities 36,000
    Taxes and Licenses 121,500
    Payroll Tax Expense 22,080
    Salaries Expense 192,000
    Supplies Expense 2715

    Rent Income
    Dr Cr
    ₱ 2,736,000.00
    Accumulated Depreciation
    Dr Cr

    Refundable Security Deposit


    Dr Cr
    456,000

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