Problem #6 Journalizing Transactions pangeline Jamili Landscaping Service has the following completed transactions: Mar. 1 Jamili deposited P200,000 in a bank account in the name of the business. 4 Jamili invested personal gardening equipment, with a fair market value of P10,000, in the business. 6 Bought a used trailer on account from Sala Sales, P8,500. 7 Paid rent for the month, P6,000. 9 Bought a used backhoe from Mobile Equipment, P62,000, paying P30,000 in cash and the balance on account. 10 Bought liability insurance for one year, P9,000. 13 Performed landscaping services on account for Tindoy Restaurant, P34,200. 14 Bought supplies on account from Office Decor, P2,400. 15 Performed landscaping services on account for Urios University, P25,600. 17 Received and paid the bill from De Leon Services for gas and oil for the equipment, P1,400. 19 Performed landscaping services for Calimpusan on cash basis, P18,800. 22 Paid accounts to Sala Sales, P4,000. 24 Collected accounts from Tindoy Restaurant, P7,000. 28 Performed landscaping services on account for Gucela Resort, P16,250. 29 Received and paid the telephone bill, P1,860. 30 Paid the salaries of the employees, P13,400. 31 Jamili withdrew cash for personal use, P14,000. Required: Prepare the journal entries for the March transactions. Use the following accounts Cash; Accounts Receivable; Prepaid Insurance; Equipment; Accounts Payable; Jamil Capital; Jamili, Withdrawals; Landscaping Revenues; Salaries Expense; Rent Expense Gas and Oil Expense; Supplies Expense; Utilities Expense and Miscellaneous Expense

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11:22
ASSIGNMENT RE... /
Problem #6
Journalizing Transactions
cangeline Jamili Landscaping Service has the following completed transactions:
Mar. 1 Jamili deposited P200,000 in a bank account in the name of the
business.
4 Jamili invested personal gardening equipment, with a fair market
value of P10,000, in the business.
6 Bought a used trailer on account from Sala Sales, P8,500.
7 Paid rent for the month, P6,000.
9 Bought a used backhoe from Mobile Equipment, P62,000, paying
P30,000 in cash and the balance on account.
10 Bought liability insurance for one year, P9,000.
13 Performed landscaping services on account for Tindoy Restaurant,
P34,200.
14 Bought supplies on account from Office Decor, P2,400.
15 Performed landscaping services on account for Urios University,
P25,600.
17 Received and paid the bill from De Leon Services for gas and oil for
the equipment, P1,400.
19 Performed landscaping services for Calimpusan on cash basis,
P18,800.
22 Paid accounts to Sala Sales, P4,000.
24 Collected accounts from Tindoy Restaurant, P7,000.
28 Performed landscaping services on account for Gucela Resort,
P16,250.
29 Received and paid the telephone bill, P1,860.
30 Paid the salaries of the employees, P13,400.
31 Jamili withdrew cash for personal use, P14,000.
Required:
Prepare the journal entries for the March transactions. Use the following accounts:
Cash; Accounts Receivable; Prepaid Insurance; Equipment; Accounts Payable; Jamili,
Capital; Jamili, Withdrawals; Landscaping Revenues; Salaries Expense; Rent Expense;
Gas and Oil Expense; Supplies Expense; Utilities Expense and Miscellaneous Expense.
137
II
Transcribed Image Text:11:22 ASSIGNMENT RE... / Problem #6 Journalizing Transactions cangeline Jamili Landscaping Service has the following completed transactions: Mar. 1 Jamili deposited P200,000 in a bank account in the name of the business. 4 Jamili invested personal gardening equipment, with a fair market value of P10,000, in the business. 6 Bought a used trailer on account from Sala Sales, P8,500. 7 Paid rent for the month, P6,000. 9 Bought a used backhoe from Mobile Equipment, P62,000, paying P30,000 in cash and the balance on account. 10 Bought liability insurance for one year, P9,000. 13 Performed landscaping services on account for Tindoy Restaurant, P34,200. 14 Bought supplies on account from Office Decor, P2,400. 15 Performed landscaping services on account for Urios University, P25,600. 17 Received and paid the bill from De Leon Services for gas and oil for the equipment, P1,400. 19 Performed landscaping services for Calimpusan on cash basis, P18,800. 22 Paid accounts to Sala Sales, P4,000. 24 Collected accounts from Tindoy Restaurant, P7,000. 28 Performed landscaping services on account for Gucela Resort, P16,250. 29 Received and paid the telephone bill, P1,860. 30 Paid the salaries of the employees, P13,400. 31 Jamili withdrew cash for personal use, P14,000. Required: Prepare the journal entries for the March transactions. Use the following accounts: Cash; Accounts Receivable; Prepaid Insurance; Equipment; Accounts Payable; Jamili, Capital; Jamili, Withdrawals; Landscaping Revenues; Salaries Expense; Rent Expense; Gas and Oil Expense; Supplies Expense; Utilities Expense and Miscellaneous Expense. 137 II
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