GENERAL JOURNAL DATE PARTICULARS DEBIT CREDIT April 2 Cash 250,000.00 Furnitures & Fixtures 15,000.00 Rosales, Capital 265,000.00 Investments of Crispin Rosales to open a business. 300,000.00 150,000 150,000 11 14 15 19 20 26 27 30 Journalize the transactions below using a two-column general journal. The April 2014 transactions of Budget Driving Institute owned and managed by Crispin Rosales are listed below: 2 Rosales invested P250,000 cash and P15,000 furniture and fixtures. 4 Two second hand cars were purchased and a 50% down payment of P150,000 made. Issued a promissory note for the balance. 5 Bought office equipment for cash, P12,000. 6 Two student drivers filled up an application form stating, among others, that they were willing to pay P2,000 each for a one-week lesson. 7 Paid P2,000 for gas and oil. 8 Paid P10,000 for an advertisement that was posted along the highway to promote the business. 11 The two student drivers paid in full. 14 Another two student drivers were billed for P4,000 but only one paid in cash. 15 Salaries were paid for the first half of April amounting to P4,500. 19 Ms. Rosales made a cash withdrawal of P1,500. 20 Driving Fees of P7,000 were billed to various clients but only 50% was collected. 26 Lessor (owner of building) sent a bill for office rent due, P7,500. 27 Utility bills paid in cash, P4,500. 30 Salaries were paid for the second half of April.
GENERAL JOURNAL DATE PARTICULARS DEBIT CREDIT April 2 Cash 250,000.00 Furnitures & Fixtures 15,000.00 Rosales, Capital 265,000.00 Investments of Crispin Rosales to open a business. 300,000.00 150,000 150,000 11 14 15 19 20 26 27 30 Journalize the transactions below using a two-column general journal. The April 2014 transactions of Budget Driving Institute owned and managed by Crispin Rosales are listed below: 2 Rosales invested P250,000 cash and P15,000 furniture and fixtures. 4 Two second hand cars were purchased and a 50% down payment of P150,000 made. Issued a promissory note for the balance. 5 Bought office equipment for cash, P12,000. 6 Two student drivers filled up an application form stating, among others, that they were willing to pay P2,000 each for a one-week lesson. 7 Paid P2,000 for gas and oil. 8 Paid P10,000 for an advertisement that was posted along the highway to promote the business. 11 The two student drivers paid in full. 14 Another two student drivers were billed for P4,000 but only one paid in cash. 15 Salaries were paid for the first half of April amounting to P4,500. 19 Ms. Rosales made a cash withdrawal of P1,500. 20 Driving Fees of P7,000 were billed to various clients but only 50% was collected. 26 Lessor (owner of building) sent a bill for office rent due, P7,500. 27 Utility bills paid in cash, P4,500. 30 Salaries were paid for the second half of April.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:GENERAL JOURNAL
DATE
PARTICULARS
DEBIT
CREDIT
April 2 Cash
250,000.00
Furnitures & Fixtures
15,000.00
Rosales, Capital
265,000.00
Investments of Crispin Rosales to open a business.
300,000.00
150,000
150,000
11
14
15
19
20
26
27
30
Transcribed Image Text:Journalize the transactions below using a two-column general journal.
The April 2014 transactions of Budget Driving Institute owned and managed by Crispin Rosales are listed below:
2 Rosales invested P250,000 cash and P15,000 furniture and fixtures.
4 Two second hand cars were purchased and a 50% down payment of P150,000 made. Issued a promissory note for the balance.
5 Bought office equipment for cash, P12,000.
6 Two student drivers filled up an application form stating, among others, that they were willing to pay P2,000 each for a one-week lesson.
7 Paid P2,000 for gas and oil.
8 Paid P10,000 for an advertisement that was posted along the highway to promote the business.
11 The two student drivers paid in full.
14 Another two student drivers were billed for P4,000 but only one paid in cash.
15 Salaries were paid for the first half of April amounting to P4,500.
19 Ms. Rosales made a cash withdrawal of P1,500.
20 Driving Fees of P7,000 were billed to various clients but only 50% was collected.
26 Lessor (owner of building) sent a bill for office rent due, P7,500.
27 Utility bills paid in cash, P4,500.
30 Salaries were paid for the second half of April.
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