Accounting Note or Sample
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nilo biaAccounting Note or Sample
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nilo biaThe following transactions of Virgie Dal, CPA, were completed during May 2015:
May 2 Transferred Php92,500 cash from a personal savings account to a checking account, Virgie Dal, CPA.
May 3 Acquired office equipment on account from SL Furniture, Php36,800.
May 4 Acquired office supplies on account from Lorenzo Office Supply Company, Php17,100.
May 6 Performed accounting services for Cayaco Computer Company and submitted a bill of
Php29,200 for those services.
May 7 Paid for accounting and tax books for use in the practice, Php19,500.
May 8 Paid Lorenzo Office Supply Company, Php4,100 on account.
May 10 Acquired a condominium unit for the accounting practice, Php265,000. A down payment
of Php38,000 was made and issued a note payable for the remaining Php227,000.
May 12 Paid salaries, Php14,200.
May 13 Received Php9,750 from Cayaco Computer Company, billed on May 6.
May 16 Paid telephone expense, Php650.
May 19 Received cash in the amount of Php14,600 from Ponferada Book Company
for accounting services rendered for the month.
May 22 Acquired office supplies on account from Lorenzo Office Supply Company, Php4,650.
May 23 Withdrew Php8,150 for personal use.
May 25 Paid salaries, Php10,300.
May 26 Billed Bosante Exporters Php31,600 for accounting services rendered.
May 27 Paid PICPA-Tacloban Php5,500 for professional dues.
May 28 Paid Php3,250 rent on an office-copying machine.
CHART OF ACCOUNTS
CODE ACCOUNT NAME
110 Cash
120 Accounts Receivable
130 Office Supplies
140 Office Condominium
150 Office Equipment
160 Accounting Library
210 Notes Payable
220 Accounts Payable
310 Dal, Capital
320 Dal, Withdrawals
410 Accounting Revenues
510 Salaries Expense
520 Rent Expense
530 Telephone Expense
540 Professional Dues Expense
Requirements:
1. Journalize the transactions using the General Journal Sheets.
2. Post journal entries to the General Ledger.
3. Prepare a Trial Balance.