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    Tony's Repair Shop General Journal

    Uploaded by

    Cherie Soriano Ananayo
    The document is a general journal for Tony's Repair Shop for the month of May. It records various financial transactions including the owner's initial capital investment of 15,000 pesos, the purchase of 5,000 pesos of equipment, revenues from services of 4,100 pesos and 200 pesos, and expenses such as rent, supplies, advertising, salaries, utilities and the owner's withdrawal of 500 pesos. The journal entries are used to record these transactions and update the shop's financial accounts for the month.

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    © All Rights Reserved
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    Tony's Repair Shop General Journal

    Uploaded by

    Cherie Soriano Ananayo
    145 views6 pages
    The document is a general journal for Tony's Repair Shop for the month of May. It records various financial transactions including the owner's initial capital investment of 15,000 pesos, the purchase of 5,000 pesos of equipment, revenues from services of 4,100 pesos and 200 pesos, and expenses such as rent, supplies, advertising, salaries, utilities and the owner's withdrawal of 500 pesos. The journal entries are used to record these transactions and update the shop's financial accounts for the month.

    Original Title

    Journalizing Transactions

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    The document is a general journal for Tony's Repair Shop for the month of May. It records various financial transactions including the owner's initial capital investment of 15,000 pesos, the purchase of 5,000 pesos of equipment, revenues from services of 4,100 pesos and 200 pesos, and expenses such as rent, supplies, advertising, salaries, utilities and the owner's withdrawal of 500 pesos. The journal entries are used to record these transactions and update the shop's financial accounts for the month.

    Copyright:

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

    Tony's Repair Shop General Journal

    Uploaded by

    Cherie Soriano Ananayo
    The document is a general journal for Tony's Repair Shop for the month of May. It records various financial transactions including the owner's initial capital investment of 15,000 pesos, the purchase of 5,000 pesos of equipment, revenues from services of 4,100 pesos and 200 pesos, and expenses such as rent, supplies, advertising, salaries, utilities and the owner's withdrawal of 500 pesos. The journal entries are used to record these transactions and update the shop's financial accounts for the month.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 6

    Tony's Repair Shop

    General Journal

    Date Particulars Debit


    May-01 Cash ₱15,000.00
    R. Antonio Capital
    To record the investment made by the owner

    May-02 Equipment ₱5,000.00


    Cash
    To record the purchase of equipment

    May-03 Rent Expense ₱400.00


    Cash
    To record the payment of office rent

    May-04 Supplies ₱500.00


    Cash
    To record the payment of supplies

    May-05 Advertising Expense ₱250.00


    Accounts Payable
    To recored the advertising expense on account

    May-06 Cash ₱4,100.00


    Service Revenue
    To record the collection for service rendered

    May-07 R. Antonio Drawing ₱500.00


    Cash
    To record the owners withdrawal

    May-08 Salaries Expense ₱1,000.00


    Cash
    To record the payment of salaries

    May-09 Utilities Expense ₱140.00


    Cash
    To record the payment of utilities

    May-10 Accounts Receivable ₱200.00


    Service Revenue
    To record the service rendered on account

    May-11 Cash ₱120.00


    Accounts Receivable
    To record the partial collection for service rendered
    ASSETS
    Non-current
    Current Assets
    Assets

    Accounts
    Cash Supplies Equipment
    Receivable
    Credit 15,000 200 500 5,000
    -5,000 -120
    ₱15,000.00 -400
    -500
    4,100
    -500
    ₱5,000.00 -1,000
    -140
    120
    11,680 80 500 5,000
    ₱400.00
    17,260

    ₱500.00

    ₱250.00

    ₱4,100.00

    ₱500.00

    ₱1,000.00

    ₱140.00

    ₱200.00
    ₱120.00
    LIABILITIES CAPITAL
    Current Non-current
    Capital Revenue Expense
    Liabilities Liabilities

    Accounts Service
    Capital Drawings Rent Expense
    Payable Revenue
    250 15,000 -500 4,100 -400
    200

    250 0 15,000 -500 4,300 -400


    250 14,500 4,300 -1,790
    17,260
    APITAL

    Expenses

    Advertising Salaries Utilities


    Expense Expense Expense
    -250 -1,000 -140

    -250 -1,000 -140


    -1,790

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