General Journal Page 1

Date Description PR Debit Credit

2017 02 Cash A110 40,000
January
Masipag, Capital C310 40,000
Masipag Initial Investment

02 Prepaid Rent A140 8,000

Cash A110 8,000
To record prepayment of rent

02 Insurance Expense E550 500

Cash A110 500
To record payment for Fire Insurance

03 Cash A110 1,200

Fees Earned I410 1,200
To record received payment on service
rendered

04 Membership and Licenses Expense E560 500

Cash A110 500
To record payment for Membership dues

05 Cash A110 950

Fees Earned I410 950
To record Service Rendered

05 Membership and Licenses Expense E560 1,000

Cash A110 1,000
To record payment for business permit and
license

06 Office Furniture A160 5,500

Cash A110 5,500
To record purchase of furniture

08 Cash A120 850

Fees Earned I410 850
To record received check for service rendered

09 Accounts Receivable A120 5,000

Fees Earned I410 5,000
To record accounts receivable for service
rendered

10 Masipag, Drawing C320 2,500

Cash A110 2,500
To record Masipag Withdrawal
 General Journal Page 2

Date Description PR Debit Credit

2017 11 Gas and Oil Expense E570 600
January
Cash A110 600
To record payment for gasoline

11 Cash A110 650

Fees Earned I410 650
To record received payment on service
rendered

12 Salaries Expense E510 3,500

Cash A110 3,500
To record payment for salary expense

15 Office Equipment A150 30,000

Notes Payable L220 30,000
To record purchase on account

16 Office Supplies A130 600

Accounts Payable L210 600
To record purchase on account

17 Accounts Receivable A120 5,200

Fees Earned I410 5,200
To record accounts receivable for service
rendered

18 Cash A110 3,000

Accounts Receivable A120 2,000
Fees Earned I410 5,000
To record collected payment

21 Accounts Payable L210 600

Cash A110 600
To record payment to purchase on account

22 Cash A110 10,000

Masipag, Capital C310 10,000
To record Masipag additional Investment

23 Cash A110 2,500

Accounts Receivable A120 2,700
Fees Earned 5,200
To record received partial payment

24 Notes Payable L220 30,000

Cash A110 30,000
 payment of note issued for office equipment

General Journal Page 3

Date Description PR Debit Credit

2017 25 Cash A110 7,000
January
Fees Earned I410 7,000
To record received payment on service
rendered

28 Salaries Expense E510 3,500

Cash A110 3,500
To record payment for salary expense

28 Light and Water Expense E540 1,200

Cash A110 1,200
To record payment for light and water bills

31 Gas and Oil Expense E570 1,200

Cash A110 1,200
To record payment for gas and oil

31 Office Supplies Expense 350

Office Supplies 350

31 Rent Expense 4,000

Prepaid Rent 4,000

31 Depreciation Expense 91.67

Accumulated Depreciation 91.67

31 Depreciation Expense 500

Accumulated Depreciation 500

31 Communication Expense 800

Utilities Payable 800
 GENERAL LEDGER

Account Title: Cash Acct. No. A110

Date Items P Debit Date Items PR Credit
R
2017 02 1 40,000 2017 02 1 8,000
January January
03 1 1,200 02 1 500
05 1 950 04 1 500
08 1 850 05 1 1,000
11 2 650 06 1 5,500
18 2 3,000 10 1 2,500
22 2 10,000 11 2 600
23 2 2,500 12 2 3,500
25 2 7,000 21 2 600
24 2 30,000
66150 28 3 3,500
28 3 1,200
31 3 1,200

Account Title: Accounts Receivable Acct. No. A120

Date Items P Debit Date Items PR Credit
R
2017 09 1 5,000 2017
January January
17 2 5,200
18 2 2,000
23 2,700

Account Title: Office Supplies Acct. No. A130

Date Items P Debit Date Items PR Credit
R
2017 16 2 600
January

Account Title: Prepaid Rent Acct. No. A140

Date Items P Debit Date Items PR Credit
R
2017 02 1 8,000
January
Account Title: Office Equipment Acct. No. A150
Date Items P Debit Date Items PR Credit
R
2017 15 02 30,000
January

Account Title: Office Furniture Acct. No. A160

Date Items P Debit Date Items PR Credit
R
2017 06 1 5,500
January

Account Title: Accounts Payable Acct. No. L210

Date Items P Debit Date Items PR Credit
R
2017 21 2 600 2017 16 1 600
January January

Account Title: Notes Payable Acct. No. L220

Date Items P Debit Date Items PR Credit
R
2017 24 2 30,000 2017 15 2 30,000
January January

Account Title: Masipag, Capital Acct. No. C310

Date Items P Debit Date Items PR Credit
R
2017 02 1 40,000
January
22 2 10,000

Account Title: Masipag, Drawing Acct. No. C320

Date Items P Debit Date Items PR Credit
R
2017 10 1 2,500
January

Account Title: Fees Earned Acct. No. I410

Date Items P Debit Date Items PR Credit
R
2017 2017 03 1 1,200
 January January
05 1 950
08 1 850
09 1 5,000
11 2 650
17 2 5,200
18 2 5,000
23 5,200
25 3 7,000

Account Title: Salaries Expense Acct. No. E510

Date Items P Debit Date Items PR Credit
R
2017 12 2 3,500
January
28 3 3,500

Account Title: Office Supplies Expense Acct. No. E520

Date Items P Debit Date Items PR Credit
R
2017
January

Account Title: Rent Expense Acct. No. E530

Date Items P Debit Date Items PR Credit
R
2017
January

Account Title: Light and Water Expense Acct. No. E540

Date Items P Debit Date Items PR Credit
R
2017 28 3 1,200
January

Account Title: Insurance Expense Acct. No. E550

Date Items P Debit Date Items PR Credit
 R
2017 02 1 500
January

Account Title: Membership and Licenses Expense Acct. No. E560

Date Items P Debit Date Items PR Credit
R
2017 04 1 500
January
05 1 1,000

Account Title: Gas an Oil Expense Acct. No. E570

Date Items P Debit Date Items PR Credit
R
2017 11 2 600
January
31 3 1,200

TRIAL BALANCE

JANUARY 31, 2017

Account Titles Debit Credit

Cash 7,550
Accounts Receivable 14,900
Office Supplies 600
Prepaid Rent 8,000
Office Equipment 30,000
Office Furniture 5,500
Accounts Payable -
Notes Payable -
Masipag, Capital 50,000
Masipag, Drawing 2,500
Fees, Earned 31,050
Salaries Expense 7,000
Light and Water Expense 1,200
Insurance Expense 500
Membership and License Expense 1,500
Gas and Oil Expense 1,800
TOTAL 81,050 81,050

T account for cash

F Masipag, Capital 40,000 8,000 Payment of Rent O

O Service Rendered 1,200 500 Payment of Fire insurance O
O Service Rendered 950 500 Payment of membership O
dues
O Service Rendered 850 1,000 Payment of business Permit O
and Licenses
O Service Rendered 650 5,500 Payment to acquire I
Furniture
O Partial Payment for 3,000 2,500 Masipag, Withdrawal F
Service Rendered
F Additional Investment 10,000 600 Payment of Gasoline O
O Partial Payment for 2,500 3,500 Payment of Salary Expense O
Service Rendered
O Service Rendered 7,000 600 Payment to purchase on O
account
66150 30,000 Payment on Note issued F
3,500 Payment of salary expense O
1,200 Payment of Light and O
Water bill
1,200 Payment of Gas and Oil O