ACCTG CYCLE

GENERAL JOURNAL (G1)
DATE PARTICULARS Ref.


July 1 Cash 001
Maria Lopez, Capital 101
Made additional investments

1 Prepaid Rent 051
Taxes and License Expense 136
Store Furniture 065
Cash 001
Paid six months' rent, license and permits and various store furnitures

1 Purchases 121
Accounts Payable- 123 Supplies Store 071
Bought supplies on term n/60

2 Accounts Payable- 123 Supplies Store 071
Purchase Returns and Allowances 122
123 Supplies Store issued a credit memo for defective goods

6 Store supplies 056
Cash 001
Accounts Payable- 45 Supplies Store 071
Bought supplies for the store n/30

12 Cash 001
Accounts Receivable- Mr. Yu 031
Sales 111
Sold various goods 2/10, n/30

24 Accounts Receivable- Mrs. Z 031
Sales 111
Sold various goods 2/10, n/30

30 Cash 001
Sales 111
Sold goods paid fully in cash by Ms. X

31 Utilities Expense 131
Miscellaneous Expense 170
Cash 001
Paid utilities and miscellaneous

, DEBIT CREDIT Account Title

( 200,000.00) Cash
( 200,000.00) Prepaid Rent
Accounts Payable
Store Supplies
( 45,000.00) Accounts Receivable
( 10,000.00) Sales
( 50,000.00) Maria Lopez, Capital
( 105,000.00) Purchases
Tax and License Expense
Store Furniture
( 60,000.00) Purchase Returns and Allowances
( 60,000.00) Unearned Sales
Utilities Expense
Miscellaneous Expense
( 1,500.00) Salaries Expense
( 1,500.00) Salaries Payable
Store Supplies Expense
Rent Expense
( 5,000.00) Depreciation Expense
( 2,500.00) Accumulated Depreciation Expense
( 2,500.00) Merchandise Inventory


( 8,000.00)
( 8,000.00)
( 16,000.00)


( 12,000.00)
( 12,000.00)


( 42,000.00)
( 42,000.00)


( 4,920.00)
( 2,710.00)
( 7,630.00)

, Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance
DEBIT CREDIT Debit Credit Debit Credit


(PhP 134,870.00) (PhP 134,870.00)
( 45,000.00) (PhP 7,500.00) ( 37,500.00)
(PhP 61,000.00) (PhP 61,000.00)
( 5,000.00) ( 3,200.00) ( 1,800.00)
( 20,000.00) ( 20,000.00)
( 70,000.00) (PhP 15,000.00) ( 55,000.00)
( 200,000.00) ( 200,000.00)
( 60,000.00) ( 60,000.00)
( 10,000.00) ( 10,000.00)
( 50,000.00) ( 50,000.00)
( 1,500.00) ( 1,500.00)
( 15,000.00) ( 15,000.00)
( 4,920.00) ( 4,920.00)
( 2,710.00) ( 2,710.00)
( 5,000.00) ( 5,000.00)
( 5,000.00) ( 5,000.00)
( 3,200.00) ( 3,200.00)
( 7,500.00) ( 7,500.00)
( 375.00) ( 375.00)
( 375.00) ( 375.00)


(PhP 332,500.00 ) (PhP 332,500.00 ) (PhP 27,875.00 ) (PhP 31,075.00 ) (PhP 337,875.00 ) (PhP 337,875.00 )