What is the ledger? How to make a ledger out of the trial balance given below?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

What is the ledger? How to make a ledger out of the trial balance given below?

Prob
Journalizing, Posting, Preparing a Trial Balanc
During the month of December 2022, the Bombers were participating in the 2021
Acquired the contract of Agustin Tiongco from the Negros Navigators
for P1,875,000; paying P225,000 in cash and financing the P1,650,000
Collected P2,809,500 on accounts receivable from season-ticket
1.
lose Rizal Heavy Bombers
Trial Balance
numbers and titles:
Nov. 30, 2022
Credit
Debit
Acct. No.
Account Titles
P 1,129,800
3,712,500
31,050
110
Cash
120
Accounts Receivable
130
Uniform Supplies
-0-
140
Prepaid Insurance
2,025,000
12,750,000
2,625,000
150
Land
160
Training Facilities
Requr
170
Training Equipment
11,250,000
1. Er
Player Contracts
Notes Payable
Accounts Payable
Mortgage Payable
Fabella, Capital
Fabella, Withdrawals
Game Attendance Revenues
180
P 1,800,000
4,725,000
10,500,000
17,643,750
210
le
220
230
2. Pr
310
320
3. Ро
1,875,000
410
10,125,000
4. Pr
Salaries Expense
Advertising Expense:
Travel Expense
510
4,875,000
400,950
1,532,400
528,000
194,550
1,734,000
130,500
P44,793,750
520
5. P.
530
S40
Laundry Expense
Medical Expense
utilities Expense
Miscellaneous Expense
560
S70
Totals
P44,793,750
playoffs and the following transactions took place
Dec. 1
by issuing a note payable.
holders.
111 12NANNNKG
Transcribed Image Text:Prob Journalizing, Posting, Preparing a Trial Balanc During the month of December 2022, the Bombers were participating in the 2021 Acquired the contract of Agustin Tiongco from the Negros Navigators for P1,875,000; paying P225,000 in cash and financing the P1,650,000 Collected P2,809,500 on accounts receivable from season-ticket 1. lose Rizal Heavy Bombers Trial Balance numbers and titles: Nov. 30, 2022 Credit Debit Acct. No. Account Titles P 1,129,800 3,712,500 31,050 110 Cash 120 Accounts Receivable 130 Uniform Supplies -0- 140 Prepaid Insurance 2,025,000 12,750,000 2,625,000 150 Land 160 Training Facilities Requr 170 Training Equipment 11,250,000 1. Er Player Contracts Notes Payable Accounts Payable Mortgage Payable Fabella, Capital Fabella, Withdrawals Game Attendance Revenues 180 P 1,800,000 4,725,000 10,500,000 17,643,750 210 le 220 230 2. Pr 310 320 3. Ро 1,875,000 410 10,125,000 4. Pr Salaries Expense Advertising Expense: Travel Expense 510 4,875,000 400,950 1,532,400 528,000 194,550 1,734,000 130,500 P44,793,750 520 5. P. 530 S40 Laundry Expense Medical Expense utilities Expense Miscellaneous Expense 560 S70 Totals P44,793,750 playoffs and the following transactions took place Dec. 1 by issuing a note payable. holders. 111 12NANNNKG
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
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