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    The Following Are Transactions of Bagalia Trucking Services For The Month of August

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    Khriza Joy Salvador
    1. Bagalia Trucking Services recorded various transactions in August 2017, including purchasing a delivery truck, receiving payment for services, paying expenses, and transferring funds between accounts. 2. The transactions were recorded in a general journal and posted to T-accounts to show increases and decreases in each account. 3. A trial balance was prepared at the end of the month that listed account balances and ensured total debits equaled total credits.

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    The Following Are Transactions of Bagalia Trucking Services For The Month of August

    Uploaded by

    Khriza Joy Salvador
    1K views4 pages
    1. Bagalia Trucking Services recorded various transactions in August 2017, including purchasing a delivery truck, receiving payment for services, paying expenses, and transferring funds between accounts. 2. The transactions were recorded in a general journal and posted to T-accounts to show increases and decreases in each account. 3. A trial balance was prepared at the end of the month that listed account balances and ensured total debits equaled total credits.

    Original Title

    ASSIGNMENT 6B-FABM

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    1. Bagalia Trucking Services recorded various transactions in August 2017, including purchasing a delivery truck, receiving payment for services, paying expenses, and transferring funds between accounts. 2. The transactions were recorded in a general journal and posted to T-accounts to show increases and decreases in each account. 3. A trial balance was prepared at the end of the month that listed account balances and ensured total debits equaled total credits.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    1K views4 pages

    The Following Are Transactions of Bagalia Trucking Services For The Month of August

    Uploaded by

    Khriza Joy Salvador
    1. Bagalia Trucking Services recorded various transactions in August 2017, including purchasing a delivery truck, receiving payment for services, paying expenses, and transferring funds between accounts. 2. The transactions were recorded in a general journal and posted to T-accounts to show increases and decreases in each account. 3. A trial balance was prepared at the end of the month that listed account balances and ensured total debits equaled total credits.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    Salvador, Khriza Joy R.

    January 27, 2021


    12-Abm 3 ASSIGNMENT 6B

     
    The  following are transactions of Bagalia Trucking Services for the month of August. 
     

    2017  

    August

    1 Purchased a used delivery truck from Boo Lok Motors for Php 230 000 cash

    3 Mr. Bagalia transferred Php 500 000 from his savings account to the account of Bagalia
    Trucking Services.

    4 Received Php 50 000 cash payment from Choo Mart for trucking services rendered.

    9 Paid Business Magazine Php 3 000 for advertising services

    10 Paid Php 12 300 to Palpak Repair Shop for truck repairs.

    16 Paid driver’s two week salary, Php 6 700

    19 Sent bill to Snozz Trading for trucking services rendered, Php 34 000.

    27 Mr. Bagalia bought equipment for personal use using business funds, Php 33 000

    30 Received bill from Petron Gasoline Station, Php 29 000

     
    REQUIRED ;
     
    1.     Journalize the transactions.
    2.    Post them on T- Accounts
    3.    Prepare the Trial Balance
    BAGALIA TRUCKING SERVICES
    MONTH OF AUGUST 2017

    GENERAL JOURNAL

    DATE ACCOUNT TITLE AND EXPALANATION P.R DEBIT CREDIT


    2017
    AUGUS 1 Delivery Truck 230 000
    T
    Cash 230 000
    Purchased delivery truck from Boo
    look Motors

    3 Cash 500 000


    Bagalia, Capital 500 000
    Mr. Bagalia transferred money to the
    company’s account

    4 Cash 50 000
    Service Revenue 50 000
    Service Rendered

    9 Advertising Expense 3 000


    Cash 3 000
    Paid Business Magazine

    10 Repair and maintenance 12 300


    Cash 12 300
    Paid to Palpak Shop

    16 Salary Expense 6 700


    Cash 6 700
    Paid driver’s two week salary

    19 Account Receivable 34 000


    Service Revenue 34 000
    Sent bill to Snozz Trading

    27 Equipment
    Cash 33 000
    Bought equipment for personal use 33 000
    using business funds

    30 Utilities Expense 29 000


    Utilities Payable 29 000
    Received bill from gasoline station
    T-ACCOUNTS

    Cash Equipment
    8/3 500 000 8/1 230 000 8/1 230 000
    8/9 3 000 8/27 33 000
    8/4 50 000 8/10 12 300
    8/16 6 700 Service Revenue
    8/27 33 000 Bagalia, Capital

    8/4 50 000 8/3 500 000


    8/19 34 000

    Repairs and Maintenance Advertising Expenses

    8/10 12 300 8/9 3 000

    Account Receivable Salary Expenses

    8/19 34 000 8/16 6 700

    Utilities Expense Utilities Payable

    8/30 29 000 8/30 29 000

    TRIAL BALANCE
    ACCOUNT TITLE AND EXPLANATION DEBIT CREDIT
    Cash 265 000
    Account Receivable 34 000
    Office Equipment 230 000
    Accounts Payable 29 000
    Mr. Bagalia Capital 500 000
    Mr. Bagalia Drawing 33 000
    Service Revenue 84 000
    Advertising Expense 3 000
    Salaries Expense 6 700
    Repair Expense 12 300
    Utilities Expense 29 000
    TOTAL 613 000// 613 000//

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