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Journalizing, Posting and
Preparing a Trial Balance
Problem #16 p. 4-59
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Journalizing
Date
Account Titles Ref. Debit Credit
2014
Feb 2 Rent Expense 27,000
Cash 27,000
Paid Rent
Feb. 2 Paid this month’s rent, P27,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref. Debit Credit
2014
Feb 3 Cash 65,000
School Revenue
65,000
Revenue for Feb.
3 Received fees for this month's services, P65,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 4 Supplies 8,500
Accounts Payable 8,500
Bought supplies on account
4 Purchased supplies on account, P8,500
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 5 Gas & Oil Expense 4,000
Cash 4,000
Oil Change Payment
5 Paid for oil change on a service vehicle, P4,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 6 Equipment 100,000
Accounts Payable 100,000
Ordered Equipment
6 Ordered playground equipment, P100,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 8 Accounts Payable 17,000
Cash 17,000
Paid creditors
8 Made payments on account, P17,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 9 Cash 120,000
Accounts Receivable 120,000
Collected from debtors
9 Collected from customers in account, P120,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 10
Accounts Receivable 70,000
School Revenues 70,000
Billed customers
10 Billed customers who had not yet paid for this month's rent services, P70,000
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Transactions during the month of February
Feb. 2 Paid this month’s rent, P27,0003 Received fees for this month's services, P65,0004 Purchased supplies on account, P8,5005 Paid for oil change on a service vehicle, P4,0006 Ordered playground equipment, P100,0008 Made payments on account, P17,0009 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this month's rent services, P70,000 11 Paid for the supplies purchased on February 4.
Date
Account Titles Ref.
Debit Credit
2014
Feb 11
Accounts Payable 8,500
Cash 8,500
Payment of accounts pertaining to Feb. 4 transaction
11 Paid for the supplies purchased on February 4.
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 13
Accounts Payable 100,000
Cash 100,000
Payment of accounts pertaining to Feb. 6 transaction
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 17
Equipment 29,000
Accounts Payable 29,000
Bought equipment on account
17 Purchased equipment on account, P29,000
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 19
Utilities Expense 14,500
Cash 14,500
Paid utility bill for Feb.
19 Paid this month's utility bill, P14,500
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 22
Cash 50,000
Accounts Receivable 50,000
Payment from previously billed customers
22 Received cash for one month's services from customers previously billed, P50,000
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 26
Salaries Expense 46,000
Cash 46,000
Paid salaries
26 Paid salaries of staff, P46,000
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 27
Gas & Oil Expense 32,500
Accounts Payable 32,500
Received statement for gas & oil used
27 Received statement of account for gas and oil used by the service vehicles during the month, P32,500
Transactions during the month of February
Feb. 13 Received and paid for the playground equipment ordered on February 6, P100,000
17 Purchased equipment on account, P29,00019 Paid this month's utility bill, P14,50022 Received cash for one month's services from
customers previously billed, P50,00026 Paid salaries of staff, P46,00027 Received statement of account for gas and oil
used by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000
Date
Account Titles Ref.
Debit Credit
2014
Feb 28
Ventic, Withdrawals 11,000
Cash 11,000
Cash withdrawal for personal usage
28 Made a cash withdrawal of P11,000
Date Explanation P.R.
Debit Credit
2014
Feb. 2
Paid Rent J-1 27,000
Date
Account Titles Ref. Debit Credit
2014
Feb 2 Rent Expense 27,000
Cash 27,000
Paid Rent
Account: Rent Expense Account No. 520Date Explanation P.R
.Debit Credit
2014
Balance 189,000
Feb. 2
Paid Rent J-1 27,000
Account: Cash Account No. 110
Posting
Ventic Nursery SchoolTrial BalanceJan. 31, 2014
Cash (110)Accounts Receivables (120)Equipment (140)Service Vehicles (150)Notes Payable (210)Accounts Payable (220)Ventic, Capital (310)
P 187,000170,000104,000
1,740,000P
1,500,000
164,000 537,000P 2,201,000 P 2,201,000
Trial Balance
Ventic Nursery SchoolTrial BalanceFeb. 28, 2014
Account TitlesCash (110)Accounts Receivables (120)Supplies (130)Equipment (140)Service Vehicles (150)Notes Payable (210)Accounts Payable (220)Ventic, Capital (310)Ventic, Withdrawals (320)School Revenues (410)Gas & Oil Expense (510)Salaries Expense (520)Utilities Expense (530)Rent Expense (540)
Dr. Cr.P 194,000
70,000 8,500
233,000 1,740,000
P 1,500,000 208,500
537,000 11,000
135,000 36,000 46,000 14,500 27,000 _____________
P 2,380,500 P 2,380,500
The End
