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Journal entry activity 3 16

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kennethcrisostomo

This document contains journal entries for a dry cleaning business from June 1 to June 30, 2013. It records initial investments by the owner, purchases of equipment and supplies, borrowing of cash, additional investments, income from services rendered, expenses for rent, salaries and utilities, and withdrawals by the owner.

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Debit Credit 2013 JUN 1 Cash 250,000 Dry Cleaning Equipment 400,000 Accounts Payable 100,000 MJ Flores, Capital 550,000 Initial investment of owner 2 Dry Cleaning Supplies 22,100 Accounts Payable 22,100 Purchased dry cleaning supplies 3 Office Equipment 45,800 Cash 13,740 Accounts Payable 32,060 Purchased cash register 7 Cash 25,250 Service Income 25,250 Rendered dry cleaning services 8 Cash 150,000 Notes Payable 150,000 Borrowed cash from Banco de Oro 10 Furnitures and Fixtures 12,100 MJ Flores, Capital 12,100 Additional investment by owner 14 Cash 25,200 Accounts Receivable 20,000 Service Income 45,200 Rendered dry cleaning services 17 Accounts Payable 16,030 Cash 16,030 Settled account balance with Carter Equipment 20 MJ Flores, Drawing 12,500 Cash 12,500 Paid personal liability of owner GENERAL JOURNAL Date Account Description
22 Accounts Payable 22,100 Cash 22,100 Settled liability with Wilson Cleaners 23 MJ Flores, Drawing 300 Office Supplies 300 Owner's withdrawal of supplies 25 Accounts Receivable 50,000 Service Income 50,000 Rendered dry cleaning services 28 Rent Expense 12,000 Cash 12,000 Paid rent for the month 29 Salaries Expense 7,500 Cash 7,500 Paid wages for the workers 30 Utilities Expense 33,200 Utilities Payable 33,200 Received electricity from Meralco

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Journal entry activity 3 16

  • 1. Debit Credit 2013 JUN 1 Cash 250,000 Dry Cleaning Equipment 400,000 Accounts Payable 100,000 MJ Flores, Capital 550,000 Initial investment of owner 2 Dry Cleaning Supplies 22,100 Accounts Payable 22,100 Purchased dry cleaning supplies 3 Office Equipment 45,800 Cash 13,740 Accounts Payable 32,060 Purchased cash register 7 Cash 25,250 Service Income 25,250 Rendered dry cleaning services 8 Cash 150,000 Notes Payable 150,000 Borrowed cash from Banco de Oro 10 Furnitures and Fixtures 12,100 MJ Flores, Capital 12,100 Additional investment by owner 14 Cash 25,200 Accounts Receivable 20,000 Service Income 45,200 Rendered dry cleaning services 17 Accounts Payable 16,030 Cash 16,030 Settled account balance with Carter Equipment 20 MJ Flores, Drawing 12,500 Cash 12,500 Paid personal liability of owner GENERAL JOURNAL Date Account Description
  • 2. 22 Accounts Payable 22,100 Cash 22,100 Settled liability with Wilson Cleaners 23 MJ Flores, Drawing 300 Office Supplies 300 Owner's withdrawal of supplies 25 Accounts Receivable 50,000 Service Income 50,000 Rendered dry cleaning services 28 Rent Expense 12,000 Cash 12,000 Paid rent for the month 29 Salaries Expense 7,500 Cash 7,500 Paid wages for the workers 30 Utilities Expense 33,200 Utilities Payable 33,200 Received electricity from Meralco