Required:• LEDGER (format/answer sheet provided) Learning Competency:Posts transactions in the ledger. (ABM_FABM11-IVa-d-31)Activity 1Directions/Instructions:Based from the given general journal, post the transactions in the general ledger.Mr. Vico started to started his own consultancy firm in June 2020. During the first month of hisbusiness, he journalized the following transactions in the business' General Journal.GENERAL JOURNALPage 1DateParticularsRef.DebitVico, CapitalTo record owner's initial investment2020June 1 Cash3 Office EquipmentCashTo record the purchase of onecomputer unit.8 Accounts ReceivableService RevenueTo record clients billed for servicesrenderedAccounts PayableTo record purchase of office supplieson accountService RevenueTo record cash received for servicesrenderedAccounts ReceivableTo record partial payment of client'saccount28 Vico, DrawingCashTo record owner's personal withdrawal30 Salaries ExpenseCashTo record payment of secretary's salary15 Office Supplies18 Cash23 Cash200.00025,00015,0005,00010,0005,0005,0004000Credit200,00025,00015,0005,00010,0005,0005,0004000 Answer SheetGENERAL LEDGERRef.GENERAL LEDGERAccount Title: CASHDateExplanation2020Account Title: Accounts ReceivableDateExplanation.Account Title: Office SuppliesDateExplanationAccount Title: Office EquipmentDateExplanationAccount Title: Accounts PayableDateExplanationAccount Title: Vico, CapitalDateAccount Title: Vico, DrawingDateAccount Title: Service RevenueDateExplanationAccount Title: Salaries and Wages ExpenseDateExplanationRef. Debit CreditGuide Question:1. Differentiate general journal from a general ledger.2. Is every transaction posted immediately to the ledger? Why or why not?Account No. 101Credit BalanceAccount No. 102CreditBalanceAccount No. 103Credit BalanceAccount No. 104Ref. Debit Credit BalanceAccount No. 201CreditBalanceAccount No. 301Credit BalanceAccount No. 302Credit BalanceAccount No. 401Credit BalanceGENERAL LEDGERRef. DebitGENERAL LEDGERExplanationGENERAL LEDGERRef. DebitExplanationGENERAL LEDGERDebitRef. DebitGENERAL LEDGERRef.GENERAL LEDGERRef.GENERAL LEDGERRef. DebitDebitDebitAccount No. 501Balance

As per your requirement ledger accounts uploading below

Learning Competency: Posts transactions in the ledger. (ABM_FABM11-IVa-d-31) Activity 1 Directions/Instructions: Based from the given general journal, post the transactions in the general ledger. Mr. Vico started to started his own consultancy firm in June 2020. During the first month of his business, he journalized the following transactions in the business' General Journal. GENERAL JOURNAL Page 1 Date Particulars Ref. Debit Credit Vico, Capital To record owner's initial investment 2020 June 1 Cash 3 Office Equipment Cash To record the purchase of one computer unit. 200,000 200,000 25,000 TKAISUED 15,000 25,000

Learning Competency: Posts transactions in the ledger. (ABM_FABM11-IVa-d-31) Activity 1 Directions/Instructions: Based from the given general journal, post the transactions in the general ledger. Mr. Vico started to started his own consultancy firm in June 2020. During the first month of his business, he journalized the following transactions in the business' General Journal. GENERAL JOURNAL Page 1 Date Particulars Ref. Debit Credit Vico, Capital To record owner's initial investment 2020 June 1 Cash 3 Office Equipment Cash To record the purchase of one computer unit. 200,000 200,000 25,000 TKAISUED 15,000 25,000

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter4: Posting To A General Ledger

Section4.2: Posting From A General Journal To A General Ledger And Proving Cash

Problem 1WT

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Question

Required: • LEDGER (format/answer sheet provided)

Learning Competency:
Posts transactions in the ledger. (ABM_FABM11-IVa-d-31)
Activity 1
Directions/Instructions:
Based from the given general journal, post the transactions in the general ledger.
Mr. Vico started to started his own consultancy firm in June 2020. During the first month of his
business, he journalized the following transactions in the business' General Journal.
GENERAL JOURNAL
Page 1
Date
Particulars
Ref.
Debit
Vico, Capital
To record owner's initial investment
2020
June 1 Cash
3 Office Equipment
Cash
To record the purchase of one
computer unit.
8 Accounts Receivable
Service Revenue
To record clients billed for services
rendered
Accounts Payable
To record purchase of office supplies
on account
Service Revenue
To record cash received for services
rendered
Accounts Receivable
To record partial payment of client's
account
28 Vico, Drawing
Cash
To record owner's personal withdrawal
30 Salaries Expense
Cash
To record payment of secretary's salary
15 Office Supplies
18 Cash
23 Cash
200.000
25,000
15,000
5,000
10,000
5,000
5,000
4000
Credit
200,000
25,000
15,000
5,000
10,000
5,000
5,000
4000

Answer Sheet
GENERAL LEDGER
Ref.
GENERAL LEDGER
Account Title: CASH
Date
Explanation
2020
Account Title: Accounts Receivable
Date
Explanation.
Account Title: Office Supplies
Date
Explanation
Account Title: Office Equipment
Date
Explanation
Account Title: Accounts Payable
Date
Explanation
Account Title: Vico, Capital
Date
Account Title: Vico, Drawing
Date
Account Title: Service Revenue
Date
Explanation
Account Title: Salaries and Wages Expense
Date
Explanation
Ref. Debit Credit
Guide Question:
1. Differentiate general journal from a general ledger.
2. Is every transaction posted immediately to the ledger? Why or why not?
Account No. 101
Credit Balance
Account No. 102
Credit
Balance
Account No. 103
Credit Balance
Account No. 104
Ref. Debit Credit Balance
Account No. 201
Credit
Balance
Account No. 301
Credit Balance
Account No. 302
Credit Balance
Account No. 401
Credit Balance
GENERAL LEDGER
Ref. Debit
GENERAL LEDGER
Explanation
GENERAL LEDGER
Ref. Debit
Explanation
GENERAL LEDGER
Debit
Ref. Debit
GENERAL LEDGER
Ref.
GENERAL LEDGER
Ref.
GENERAL LEDGER
Ref. Debit
Debit
Debit
Account No. 501
Balance

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