Using the journal entries in picture 1, post the journal entries to its individual T-Accounts and prepare Trial Balance.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Question
Using the journal entries in picture 1, post the journal entries to its individual T-Accounts and prepare Trial Balance.
Accounts Recevable
Office Supplies
Cash
Kitchen Tools
Kitchen Fquipment
Office fquipment
Accounts Payable
Loans Payable
24
Bee, Capital
Bee, Withdrewals
Sales
Salaries Expense
Rent Expense
Utilities Expense
Miscellaneous Expense
NO
Account Title
Debit
Credit
Cash
Accounts Receivable
Office Supplies
Kitchen Tools
Kitchen Equipment
Office Equipment
Accounts Payable
Bee, Capital
10
Bee, Withdrawals
Sales
12
Salaries Expense
Rent Expense
Utilities Expense
Miscellaneous Expense
13
14
16
19
20
21
Transcribed Image Text:Accounts Recevable Office Supplies Cash Kitchen Tools Kitchen Fquipment Office fquipment Accounts Payable Loans Payable 24 Bee, Capital Bee, Withdrewals Sales Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense NO Account Title Debit Credit Cash Accounts Receivable Office Supplies Kitchen Tools Kitchen Equipment Office Equipment Accounts Payable Bee, Capital 10 Bee, Withdrawals Sales 12 Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense 13 14 16 19 20 21
Date
Account Title
PR
Debit
Credit
July 01
Cash
P 200,000
Bее, Сapital
Kitchen Equipment
Вее, Саpital
P200,000
P50,000
P50,000
Cash
P50,000
Loan, Payable
Kitchen tools
Cash
Rent Expense
Cash
Office Equipment
Accounts Payable
P50,000
July 02
4
P20,000
P20,000
July 03
P5,000
P5,000
July 04
P12,000
P12,000
July 05
7
Cash
P10,000
Sales
P10,000
July 17
Salaries Expense
Cash
P2,000
P2,000
Cash
Accounts Receivable
Sales
Loan Payable
Cash
Bee, Withdrawals
Cash
Salaries Expense
Cash
P8,000
P2,000
9.
P10,000
July 31
10
P1,500
P1,500
11
P1,000
P1,000
12
P2,000
P2,000
13
Cash
P1,000
Accounts Receivable
P1,000
Accounts Payable
Cash
Office Supplies
Cash
14
P3,000
P3,000
15
P1,000
P1,000
Total
P368,000
P368,000
Transcribed Image Text:Date Account Title PR Debit Credit July 01 Cash P 200,000 Bее, Сapital Kitchen Equipment Вее, Саpital P200,000 P50,000 P50,000 Cash P50,000 Loan, Payable Kitchen tools Cash Rent Expense Cash Office Equipment Accounts Payable P50,000 July 02 4 P20,000 P20,000 July 03 P5,000 P5,000 July 04 P12,000 P12,000 July 05 7 Cash P10,000 Sales P10,000 July 17 Salaries Expense Cash P2,000 P2,000 Cash Accounts Receivable Sales Loan Payable Cash Bee, Withdrawals Cash Salaries Expense Cash P8,000 P2,000 9. P10,000 July 31 10 P1,500 P1,500 11 P1,000 P1,000 12 P2,000 P2,000 13 Cash P1,000 Accounts Receivable P1,000 Accounts Payable Cash Office Supplies Cash 14 P3,000 P3,000 15 P1,000 P1,000 Total P368,000 P368,000
Expert Solution
steps

Step by step

Solved in 2 steps with 4 images

Blurred answer
Knowledge Booster
Completing the Accounting Cycle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education