Problem 5.
Kevyn CyberCafe Services Company
General Journal
for the month ended February 28, 2019
Feb. Debit Credit
1 Cash ₱ 240,000.00
Land ₱ 2,400,000.00
Building ₱ 2,000,000.00
Kevyn, Capital ₱ 4,640,000.00
To record Cash, Land and Building investment
4 Computer Equipment ₱ 360,000.00
Cash ₱ 90,000.00
Accounts Payable ₱ 270,000.00
To record purchase of equipment offering 25% dow and on account
5 Supplies ₱ 34,000.00
Cash ₱ 34,000.00
To record purchase of supplies
8 Rent Expense ₱ 18,000.00
Cash ₱ 18,000.00
To record payment of expense
10 Furnitures and Fixtures ₱ 60,000.00
Kevyn, Capital ₱ 60,000.00
To record Furnitures and Fixture investment
10 Cash ₱ 46,000.00
Computer Services ₱ 46,000.00
To record received cash from services rendered
15 Salaries Expense ₱ 12,000.00
Cash ₱ 12,000.00
To record payment of expense
18 Accounts Recievable ₱ 30,000.00
Computer Services ₱ 30,000.00
To record billed customers from services redered
22 Cash ₱ 10,000.00
Accounts Recievable ₱ 10,000.00
To record collected cash from billed customers
25 Computer Equipment ₱ 26,000.00
Accounts Payable ₱ 26,000.00
To record purchase of equipment on account
25 Cash ₱ 29,000.00
Computer Services ₱ 29,000.00
To record received cash from services redered
26 Repair Expense ₱ 1,400.00
Advertising Expense ₱ 5,000.00
Miscellaneous Expense ₱ 880.00
Cash ₱ 7,280.00
To record payment of expenses
28 Cash ₱ 29,000.00
Computer Services ₱ 29,000.00
To record received cash from services redered
28 Salaries Expense ₱ 15,000.00
Cash ₱ 15,000.00
To record payment of expense
Kevyn CyberCafe Services Company
General Ledger T- Accounts
for the month ended February 28, 2019
Cash Accounts Recievable
₱ 240,000.00 ₱ 90,000.00 ₱ 30,000.00
₱ 46,000.00 ₱ 34,000.00
₱ 10,000.00 ₱ 18,000.00
₱ 29,000.00 ₱ 12,000.00
₱ 29,000.00 ₱ 7,280.00
₱ 15,000.00
₱ 354,000.00 ₱ 176,280.00 ₱ 30,000.00
₱ 177,720.00 ₱ 20,000.00
Kevyn, Capital Computer Services
₱ 4,640,000.00
₱ 60,000.00
₱ 4,700,000.00
Accounts Recievable Land
₱ 10,000.00 ₱ 2,400,000.00
₱ 10,000.00 ₱ 2,400,000.00
Computer Services Salaries Expense
₱ 46,000.00 ₱ 12,000.00
₱ 30,000.00 ₱ 15,000.00
₱ 29,000.00
₱ 29,000.00
₱ 134,000.00 ₱ 27,000.00
Building Computer Equipment
₱ 2,000,000.00 ₱ 360,000.00
₱ 26,000.00
₱ 2,000,000.00 ₱ 386,000.00
Repair Expense Advertising Expense
₱ 1,400.00 ₱ 5,000.00
₱ 1,400.00 ₱ 5,000.00
Furnitures and Fixtures Supplies
₱ 60,000.00 ₱ 34,000.00
₱ 60,000.00 ₱ 34,000.00
Miscellaneous Expense Rent Expense
₱ 880.00 ₱ 18,000.00
₱ 880.00 ₱ 18,000.00
Accounts Payable
₱ 270,000.00
₱ 26,000.00
₱ 296,000.00
Kevyn CyberCafe Services Company
Trial Balance
for the month ended February 28, 2019
Cash ₱ 177,720.00
Accounts Recievable ₱ 20,000.00
Land ₱ 2,400,000.00
Building ₱ 2,000,000.00
Computer Equipment ₱ 386,000.00
Furnitures and Fixtures ₱ 60,000.00
Supplies ₱ 34,000.00
Accounts Payable ₱ 296,000.00
Kevyn, Capital ₱ 4,700,000.00
Computer Services ₱ 134,000.00
Salaries Expense ₱ 27,000.00
Repair Expense ₱ 1,400.00
Advertising Expense ₱ 5,000.00
Miscellaneous Expense ₱ 880.00
Rent Expense ₱ 18,000.00
₱ 5,130,000.00 ₱ 5,130,000.00