Required: 1. Record entries in the general journal 2. Post to the general ledger

Question

Required:
1. Record entries in the general journal 2. Post to the general ledger S TECHNOLOGY BOOKKEEPING LEVEL 1-ACCOUNTING CYCLE 2 Comprehensive Problem On December 1. 200x, the existing accounts and balances of Orville Thomas, attorney-at-Jaw, show the ollowing Code Cash 1000 Account Title Amount P 678,232 1,781,400 229,200 875,300 1,655,228 1,300,000 2,433,000 2,510,000 1,500,000 900,000 450,000 368,778 265,918 1040 Office supplies 2000 3000 Orville Thomas, Capital 3020 4000 Civil legal fees earned 4010 Criminal legal fees earned Accounts receivable Accounts payable Orville Thomas, Drawings Office rental expense Office funiture rental expense Office equipment rental expense Telephone expense Electric expense 010 5030 3040 Transactions during December 200x: Dec. 6 Issued check #90 in the arnount of PI00,000 in payment of an account 10 16 20 payable Issued check #91 in the amount of P23,689 for the purchase of office supplies Recorded the week's cash receipts from customers on account The deposit slip number was #889910 issued check #92 in the amount of P170.000 to Orville Thomas to pay personal expenses 22 Provided civil legal services in the amount of P17,500 issaing billing sip 26 Recorded the week's cash receipts from clients on account P289,000. The 28 Issued check #93 in the amount of P42.500 in payment of an account 29 Provided criminal legal services to client in the amount of P312,000. The 30 Received the electric bill for the month of December in the amount of 30 Received the telephone bill for the month of December in the amount of #1 208. deposit slip number was #891988. payable billing slip was number #1209. P18,954 P35,712 Required I. Record entries in the general journal. 2. Post to the general ledger 3. Prepare financial statements: (a) Income Statement, (b) Capital Statement, (c) Statement of Financial Position. GMS TECHNOLOGY BAGUIO BINALONAN URDANETA DAGUPAN... .Page 26 of 26

Explanation / Answer

2.

I have not prepared thse ledger which have no transactions.

3. (a)

(b)

(c)

(d)

Journal Entry Dec-06 Accounts Payable A/c Dr          100,000 To Cash A/c          100,000 (check # 90 for payment of accounts payable) Dec-10 Office Supplies A/c Dr            23,689 To Cash A/c            23,689 (check # 91 issued for payment of office supplies) Dec-16 Cash A/c Dr            51,500 To Accounts Recivable            51,500 (Week's collection from customers recorded via deposit slip number# 889910) Dec-20 Orville Thomas Drawings A/c Dr          170,000 To Cash A/c          170,000 (Being drawings by proprietor for personal expenses) Dec-22 Accounts Receivable A/c Dr            17,500 To Civil Legal Fees Earned A/c            17,500 (Being fees charged for civil sevices via bill #1208) Dec-26 Cash A/c Dr          289,000 To Accounts Receivable A/c          289,000 (Week's collection from customers recorded via deposit slip number# 891988) Dec-28 Accounts Payable A/c Dr            42,500 To Cash A/c            42,500 (check # 93 for payment of accounts payable) Dec-29 Accounts Receivable A/c Dr          312,000 To Criminal Legal Fees Earned A/c          312,000 (Being fees charged for civil sevices via bill #1209) Dec-30 Electric Expense A/c Dr            18,954 To Accounts Payable A/c            18,954 (Being electric expense recorded) Dec-30 Telephone expense A/c Dr            35,712 To Accounts Payable A/c            35,712 (Being Telephone expense recorded)

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.