QUIZ ON JOURNALIZING, POSTING & PREPARATION OF TRIAL BALANCE

Date Particulars PR Debit

2020
June 2 Cash on Hand 110 100,000.00
Ocampo, Capital 616
to record owner's investment in cash

3 Cash on Bank 120 90,000.00

Cash on Hand 110
to record the transfer of investment to the bank

5 Office Equipment 210 52,500.00

Accounts Payable 310
to record purchase of equipment on account

6 Office Supplies 140 7,000.00

Notes Payable - LimPan 320
to record purchase of supplies issuing a promisory note

7 Taxes and Licenses Expense 580 5,400.00

Cash on Hand 110
to record payment of taxes

8 Automobile 230 250,000.00

Notes Payable - Dagupan Auto Center 360
to record purchase of automobile with issued promisory note

9 Rent Expense 510 48,000.00

Cash on Hand 110
to record payment of rent

A/R - Alpha Co. 131 22,000.00

A/R - Beta Trading 132 30,000.00
A/R - Cat Gaz Co. 133 15,000.00
Professional Income 410
to record revenues from account customers

10 Cash on Hand 110 53,000.00

Professional Income 410
to record revenues from cash customers

Insurance Expense 520 2,000.00

Cash on Hand 110
to record payment of insurance

21 Notes Payable - LimPan 320 7,000.00

 Cash on Hand 110
to record payment of notes payable - LimPan

26 Salaries Expense 530 17,600.00

SSS Payable 330
Philhealth Payable 340
Witholding Tax payable 350
Cash on Hand 110
to record payment of employee's salaries

29 Repairs and maintenance Expense 540 1,800.00

Gas and Oil Expense 560 3,000.00
Utilities Expense 10,000.00
Telephone and Internet Expense 570 3,200.00
Cash on Hand 110
to record payment of expenses

30 Cash on Hand 110 30,000.00

Professional Income 410
to record collection of cash

Ocampo, Withdrawal 620 20,000.00

Cash on bank 120
to record owner's withdrawal
Credit

100,000.00

90,000.00

52,500.00

7,000.00

5,400.00

250,000.00

48,000.00

67,000.00

53,000.00

2,000.00
 7,000.00

500.00
175.00
880.00
16,045.00

18,000.00

30,000.00

20,000.00
 CASH ON HAND
Date Explanation PR Debit
2020
June 2 to record owner's investment in cash GJ-1 100,000.00
10 to record revenues from cash customers GJ-1 53,000.00
30 to record collection of cash GJ-1 30,000.00

183,000.00

CASH IN BANK
Date Explanation PR Debit
2020
June 3 to record the transfer of investment to the bank GJ-1 90,000.00

70,000.00

A/R - ALPHA CO.

Date Explanation PR Debit
2020
June 9 to record revenues from account customers GJ-1 22,000.00

A/R - BETA TRADING

Date Explanation PR Debit
2020
June 9 to record revenues from account customers GJ-1 30,000.00

A/R - CAT GAZ CO.

Date Explanation PR Debit
2020
June 9 to record revenues from account customers GJ-1 15,000.00

OFFICE SUPPLIES
Date Explanation PR Debit
2020
June 6 to record purchase of supplies issuing a promisory note GJ-1 7,000.00

OFFICE EQUIPMENT
Date Explanation PR Debit
2020
June 5 to record purchase of equipment on account GJ-1 52,500.00

ACCUMULATED DEPRECIATION - OFFICE EQUIPM

Date Explanation PR Debit
 AUTOMOBILE
Date Explanation PR Debit
2020
June 8 to record purchase of automobile with issued promisory note GJ-1 250,000.00

ACCUMULATED DEPRECIATION - AUTOMOBIL

Date Explanation PR Debit
H ON HAND
Date Explanation PR Credit
2020
June 3 to record the transfer of investment to the bank GJ-1 90,000.00
7 to record payment of taxes GJ-1 5,400.00
9 to record payment of rent GJ-1 48,000.00
10 to record payment of insurance GJ-1 2,000.00
21 to record payment of notes payable - LimPan GJ-1 7,000.00
26 to record payment of employee's salaries GJ-1 16,045.00
29 to record payment of expenses GJ-1 18,000.00

186,445.00

3,445.00

SH IN BANK
Date Explanation PR Credit
2020
June 30 to record owner's withdrawal GJ-1 20,000.00

- ALPHA CO.
Date Explanation PR Credit

BETA TRADING
Date Explanation PR Credit
CAT GAZ CO.
Date Explanation PR Credit

CE SUPPLIES
Date Explanation PR Credit

E EQUIPMENT
Date Explanation PR Credit

CIATION - OFFICE EQUIPMENT

Date Explanation PR Credit
TOMOBILE
Date Explanation PR Credit

PRECIATION - AUTOMOBILE
Date Explanation PR Credit
 ACCOUNTS PAYABLE
Date Explanation PR Debit Date
2020
June 5

N/P LIMPAN
Date Explanation PR Debit Date
2020 2020
June 21 to record payment of notes payable - LimPan GJ-1 7,000.00 June 6

SSS PAYABLE
Date Explanation PR Debit Date
2020
June 26

PHILHEALTH PAYABLE
Date Explanation PR Debit Date
2020
June 26

WITHHOLDING TAX PAYABLE

Date Explanation PR Debit Date
2020
 June 26

N/P - DAGUPAN AUTO CENTER

Date Explanation PR Debit Date
2020
June 8

OCAMPO, CAPITAL
Date Explanation PR Debit Date
2020
June 2

OCAMPO, DRAWING
Date Explanation PR Debit Date
2020
June 30 to record owner's withdrawal GJ-1 20,000.00
ACCOUNTS PAYABLE
Explanation PR Credit

to record purchase of equipment on account GJ-1 52,500.00

N/P LIMPAN
Explanation PR Credit

to record purchase of supplies issuing a promisory note GJ-1 7,000.00

SSS PAYABLE
Explanation PR Credit

to record payment of employee's salaries GJ-1 500.00

PHILHEALTH PAYABLE
Explanation PR Credit

to record payment of employee's salaries GJ-1 175.00

HHOLDING TAX PAYABLE

Explanation PR Credit
 to record payment of employee's salaries GJ-1 880.00

DAGUPAN AUTO CENTER

Explanation PR Credit

to record purchase of automobile with issued promisory note GJ-1 250,000.00

OCAMPO, CAPITAL
Explanation PR Credit

to record owner's investment in cash GJ-1 100,000.00

OCAMPO, DRAWING
Explanation PR Credit
 PROFESSIONAL INCOME
Date Explanation PR Debit Date
2020
June 9
10
30

RENT EXPENSE
Date Explanation PR Debit Date
2020
June 9 to record payment of rent GJ-1 48,000.00

INSURANCE EXPENSE
Date Explanation PR Debit Date
2020
June 10 to record payment of insurance GJ-1 2,000.00

SALARIES EXPENSE
Date Explanation PR Debit Date
2020
June 26 to record payment of employee's salaries GJ-1 17,600.00
 REPAIRS AND MAINTENANCE EXPENSE
Date Explanation PR Debit Date
2020
June 29 to record payment of expenses GJ-1 1,800.00

DEPRECIATION EXPENSE
Date Explanation PR Debit Date

GAS & OIL EXPENSE

Date Explanation PR Debit Date
2020
June 29 to record payment of expenses GJ-1 3,000.00

UTILITIES EXPENSE
Date Explanation PR Debit Date
2020
June 29 to record payment of expenses GJ-1 10,000.00

TELEPHONE & INTERNET EXPENSE

Date Explanation PR Debit Date
2020
June 29 to record payment of expenses GJ-1 3,200.00
 INTEREST EXPENSE
Date Explanation PR Debit Date

TAXES AND LICENSES EXPENSE

Date Explanation PR Debit Date
2020
June 7 to record payment of taxes GJ-1 5,400.00
ONAL INCOME
Explanation PR Credit

to record revenues from account customers GJ-1 67,000.00

to record revenues from cash customers GJ-1 53,000.00
to record collection of cash GJ-1 30,000.00

150,000.00

EXPENSE
Explanation PR Credit

NCE EXPENSE
Explanation PR Credit

ES EXPENSE
Explanation PR Credit
AINTENANCE EXPENSE
Explanation PR Credit

TION EXPENSE
Explanation PR Credit

OIL EXPENSE
Explanation PR Credit

ES EXPENSE
Explanation PR Credit

INTERNET EXPENSE
Explanation PR Credit
ST EXPENSE
Explanation PR Credit

ICENSES EXPENSE
Explanation PR Credit
 OCAMPO AND ASSOCIATES,CPA'S
TRIAL BALANCE
FOR THE MONTH ENDED JUNE 30, 2020

Account Title Debit

Cash on Hand
Cash on Bank 70,000.00
A/R - Alpha Co. 22,000.00
A/R - Beta Trading 30,000.00
A/R - Cat Gaz Co. 15,000.00
Office Supplies 7,000.00
Office Equipment 52,500.00
Automobile 250,000.00
Accounts Payable
Notes Payable - LimPan
SSS Payable
Philhealth Payable
Witholding Tax Payable
Notes Payable - Dagupan Auto Center
Ocampo, Capital
Ocampo, Withdrawals 20,000.00
Professional Income
Rent Expense 48,000.00
Insurance Expense 2,000.00
Salaries Expense 17,600.00
Repairs and Maintenance Expense 1,800.00
Gas and Oil Expense 3,000.00
Utilities Expense 10,000.00
Telephone and Internet Expense 3,200.00
Taxes and Licenses Expense 5,400.00

557,500.00
Credit
3,445.00

52,500.00
-
500.00
175.00
880.00
250,000.00
100,000.00

150,000.00

557,500.00