Instructions:Journalize the accounts using additional account titles:Joy, Drawing, Laundry Revenue, Salaries Expense, Utilities Expense.- Post to the ledger accounts.-Prepare a trial balance on May 31, 2008.JOY'S LAUNDRYTRIAL BALANCEApril 30, 2008Account TitleCashAccounts ReceivableSuppliesEquipmentAccounts PayableUnearned RevenueJoys, CapitalCreditAccount no.101112126157201206301BALANCEDebitP 85,00022,00017,00080,000P50,0007,000147,000P204.000P204.000The May transactions were as follows:May 5- Received P9,000 cash from customers on account.10- Billed customers for services performed P55,000.15- Paid employee salaries P12,000.17- Performed P4,00 of services for customers who paid in advance in March.20- Paid P16,000, to creditors on account.29- Withdrew P5.000 for personal use.31- Paid utilities P6,000.

Answer 1) Date Account Titles Debit Credit May'5 Cash 9,000…

Instructions: Journalize the accounts using additional account titles: Joy, Drawing, Laundry Revenue, Salaries Expense, Utilities Expense. - Post to the ledger accounts. -Prepare a trial balance on May 31, 2008. JOY'S LAUNDRY TRIAL BALANCE April 30, 2008 Account no. Account Title Cash Accounts Receivable Debit Credit P 85,000 22,000 101 112

Instructions: Journalize the accounts using additional account titles: Joy, Drawing, Laundry Revenue, Salaries Expense, Utilities Expense. - Post to the ledger accounts. -Prepare a trial balance on May 31, 2008. JOY'S LAUNDRY TRIAL BALANCE April 30, 2008 Account no. Account Title Cash Accounts Receivable Debit Credit P 85,000 22,000 101 112

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Fill in the income summary.
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