20 Accounts Payable 30,000 Cash 30,000 Payment to creditors Cash 21 Gasoline Expense 6,000 Cash 6,000 payment for gasoline 22 Note payable 4,000 Cash 4,000 installment payment on Notes Cash 24 Printing Expense Accounts Payable Bill for blueprint 3,100 3,100 d 26 Accounts Receivable 41,500 Service Revenue 41,500 Billing to clients |(bill of clients in plans delivered) 28 Salaries Expense 12,500 Cash 12,500 Salary of assistant |(Salaries of assisstant) 30 Utilities Expense Accounts payable 2,800 2,800 Electric bill |(Paid account for utilities) 31 David, Withdrawal 8,000 Cash 8,000 Transfer to personal account (Drawings for withdrawal)
20 Accounts Payable 30,000 Cash 30,000 Payment to creditors Cash 21 Gasoline Expense 6,000 Cash 6,000 payment for gasoline 22 Note payable 4,000 Cash 4,000 installment payment on Notes Cash 24 Printing Expense Accounts Payable Bill for blueprint 3,100 3,100 d 26 Accounts Receivable 41,500 Service Revenue 41,500 Billing to clients |(bill of clients in plans delivered) 28 Salaries Expense 12,500 Cash 12,500 Salary of assistant |(Salaries of assisstant) 30 Utilities Expense Accounts payable 2,800 2,800 Electric bill |(Paid account for utilities) 31 David, Withdrawal 8,000 Cash 8,000 Transfer to personal account (Drawings for withdrawal)
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 5CP
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Question
Journal Posting to Ledger and Trial Balance Preparation
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![20 Accounts Payable
30,000
Cash
30,000
Payment to creditors
Cash
21 Gasoline Expense
6,000
Cash
6,000
payment for gasoline
22 Note payable
4,000
Cash
4,000
installment payment on Notes
Cash
24 Printing Expense
3,100
Accounts Payable
Bill for blueprint
3,100
d
26 Accounts Receivable
41,500
Service Revenue
41,500
Billing to clients
|(bill of clients in plans delivered)
28 Salaries Expense
12,500
Cash
12,500
Salary of assistant
(Salaries of assisstant)
30 Utilities Expense
2,800
Accounts payable
2,800
Electric bill
|(Paid account for utilities)
31 David, Withdrawal
8,000
Cash
8,000
Transfer to personal account
(Drawings for withdrawal)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa81cffd7-bfa8-4538-9199-a17e5ddf214a%2Fa000eda0-fc02-4c83-a742-2de4e45d2cea%2Fbfxgjmo_processed.png&w=3840&q=75)
Transcribed Image Text:20 Accounts Payable
30,000
Cash
30,000
Payment to creditors
Cash
21 Gasoline Expense
6,000
Cash
6,000
payment for gasoline
22 Note payable
4,000
Cash
4,000
installment payment on Notes
Cash
24 Printing Expense
3,100
Accounts Payable
Bill for blueprint
3,100
d
26 Accounts Receivable
41,500
Service Revenue
41,500
Billing to clients
|(bill of clients in plans delivered)
28 Salaries Expense
12,500
Cash
12,500
Salary of assistant
(Salaries of assisstant)
30 Utilities Expense
2,800
Accounts payable
2,800
Electric bill
|(Paid account for utilities)
31 David, Withdrawal
8,000
Cash
8,000
Transfer to personal account
(Drawings for withdrawal)
![Date
Account Titles and Explanation
PR
Debit
Credit
2019
1 Cash
P 200,000
Oscar. David, an architect, established Luces Architectural Services on October 1, 2019. During the
month, he completed the following transactions connected with his professional practice:
Oct 1 Transferred cash from a personal bank account to an account to be used for the business,
October
David, Capital
200,000
Owner's Investment
P200,000
David, Capital
2 Paid rent for office and workroom, P25,000.
5 Purchased used automobile for P115,000 paying P25,000 cash and giving a note for the
2 Rent Expense
25,000
Cash
25,000
Payment of Rent
remainder
D
8 Purchased office and drafting room equipment on account, P60,000.
10 Paid cash for supplies, P9,000.
5 Transportation Equipment
115,000
Cash
25,000
90,000
Note Payable
14 Paid cash for insurance policies, P10,500.
d
15 Received cash from client for plans delivered, P31,000.
8 Office Equipment
60,000
18 Paid cash for automobile repairs, P1,500.
Accounts Payable
Office and drafting room equipment
60,000
20 Paid cash to creditors on account, P30,000.
21 Received and paid bill on gasoline used, P6,000.
10 Supplies
9,000
22 Paid installment due on note payable, P4,000.
Cash
9,000
24 Received invoice for blueprint service, due in November, P3,100.
Acquisition of Sullpies
d
26 Bill clients on plans delivered, P41,500.
14 Insurance Expense
10,500
28 Paid salary of assistant, P12,500.
Cash
10,500
30 Received electric bill for the month, P2,800.
Payment for insuranace policies
31 Transferred cash to a personal account, P8,000.
15 Cash
31,000
Service Revenue
31,000
Cash from client for plans delivered
CASH (P)
18 Repairs & Maintenance
Cash
1,500
1,500
Automobile repairs
d
20 Accounts Payable
30,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa81cffd7-bfa8-4538-9199-a17e5ddf214a%2Fa000eda0-fc02-4c83-a742-2de4e45d2cea%2Fs723tdc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Date
Account Titles and Explanation
PR
Debit
Credit
2019
1 Cash
P 200,000
Oscar. David, an architect, established Luces Architectural Services on October 1, 2019. During the
month, he completed the following transactions connected with his professional practice:
Oct 1 Transferred cash from a personal bank account to an account to be used for the business,
October
David, Capital
200,000
Owner's Investment
P200,000
David, Capital
2 Paid rent for office and workroom, P25,000.
5 Purchased used automobile for P115,000 paying P25,000 cash and giving a note for the
2 Rent Expense
25,000
Cash
25,000
Payment of Rent
remainder
D
8 Purchased office and drafting room equipment on account, P60,000.
10 Paid cash for supplies, P9,000.
5 Transportation Equipment
115,000
Cash
25,000
90,000
Note Payable
14 Paid cash for insurance policies, P10,500.
d
15 Received cash from client for plans delivered, P31,000.
8 Office Equipment
60,000
18 Paid cash for automobile repairs, P1,500.
Accounts Payable
Office and drafting room equipment
60,000
20 Paid cash to creditors on account, P30,000.
21 Received and paid bill on gasoline used, P6,000.
10 Supplies
9,000
22 Paid installment due on note payable, P4,000.
Cash
9,000
24 Received invoice for blueprint service, due in November, P3,100.
Acquisition of Sullpies
d
26 Bill clients on plans delivered, P41,500.
14 Insurance Expense
10,500
28 Paid salary of assistant, P12,500.
Cash
10,500
30 Received electric bill for the month, P2,800.
Payment for insuranace policies
31 Transferred cash to a personal account, P8,000.
15 Cash
31,000
Service Revenue
31,000
Cash from client for plans delivered
CASH (P)
18 Repairs & Maintenance
Cash
1,500
1,500
Automobile repairs
d
20 Accounts Payable
30,000
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