Journalized the transactions of Emily’s Service Business (General Journal and Special Journal Account) On April 01, 2015 Emily started business with Php. 100,000. On April 2, She purchased Equipment for cash Php. 7,000. On April 8, She Purchased Supplies for cash Php 2,000 and Php 1,000 for credit from Jose Retail Store. Received cash from customer amounting 15,000 on April 14. Owner withdrew of worth Php 2,000 for personal use on April 18. Other cash from customer 5,000 on April 20. On April 22, Service rendered to customer Php 7,000 to be paid on the agreement date. On April 25, Paid Jose Retail Store Php 1000. Paid Salaries Expense Php 5,000 on April 30. On April 30, Emily paid Electric Bill amounting Php 3,000.
Journalized the transactions of Emily’s Service Business (General Journal and Special Journal Account) On April 01, 2015 Emily started business with Php. 100,000. On April 2, She purchased Equipment for cash Php. 7,000. On April 8, She Purchased Supplies for cash Php 2,000 and Php 1,000 for credit from Jose Retail Store. Received cash from customer amounting 15,000 on April 14. Owner withdrew of worth Php 2,000 for personal use on April 18. Other cash from customer 5,000 on April 20. On April 22, Service rendered to customer Php 7,000 to be paid on the agreement date. On April 25, Paid Jose Retail Store Php 1000. Paid Salaries Expense Php 5,000 on April 30. On April 30, Emily paid Electric Bill amounting Php 3,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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INSTRUCTION: Journalized the transactions of Emily’s Service Business (General Journal and Special Journal Account)
On April 01, 2015 Emily started business with Php. 100,000.
On April 2, She purchased Equipment for cash Php. 7,000.
On April 8, She Purchased Supplies for cash Php 2,000 and Php 1,000 for credit from Jose Retail Store.
Received cash from customer amounting 15,000 on April 14.
Owner withdrew of worth Php 2,000 for personal use on April 18.
Other cash from customer 5,000 on April 20.
On April 22, Service rendered to customer Php 7,000 to be paid on the agreement date.
On April 25, Paid Jose Retail Store Php 1000.
Paid Salaries Expense Php 5,000 on April 30.
On April 30, Emily paid Electric Bill amounting Php 3,000.
Transcribed Image Text:SIMPLE CHART OF ACCOUNTS
S. No.
Name of account Type of account
Dr. Or Cr. Balance Statement
1
Cash
Assets
Dr.
Balance Sheet
Capital
Capital
Cr.
Balance Sheet
3
Equipment
Assets
Dr.
Balance Sheet
Supplies
Assets
Dr.
Balance Sheet
5
Account payable Liabilities
Cr.
Balance Sheet
Account
6
Assets
Dr.
Balance Sheet
receivables
7
Drawings
Capital
Dr.
Balance Sheet
8
Service Revenue
Income
Cr.
Income statement
Salaries expenses Expenses
Dr.
Income statement
Electricity
10
Еxpenses
Dr.
Income Statement
expenses
2.
9,
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