FABM Assignment
Name: _________________________________________________________________ Block:
____________________________
Eva Yan medical clinic uses the following chart of accounts.
110 Cash 310 Eva Yan, Capital
120 Accounts Receivable
125 Allowance for Bad Debts 320 Eva Yan, Drawing
130 Unused Supplies 33O Income Summary
140 Land 410 Professional Fee
150 Building
510 Salaries Expense
155 Accumulated Dep-Building
160 Furniture and Fixtures 520 Advertising Expense
165 Accumulated Dep-F&F 530 Telephone Expense
170 Equipment 540 Utilities Expense
175 Accumulated Dep-Equipment
210 Accounts Payable 550 Taxes and Licenses
220 Mortgage Payable 560 Miscellaneous Expenses
570 Supplies Expense
580 Bad Debts Expense
590 Depreciation Expense
The following transactions took place during her first month of operations in the year 2019.
April 1 Yan invested P 100,000 cash, and land and building worth 2,000,000 into her medical
business. The land has a fair market value of P 1,000,000 and is mortgaged for
P500,000.
3 Paid city taxes of P8,000, including her license to operate.
5 Purchased furniture worth P50,000, paying 20,000 and the balance on account.
6 Paid Advertising expense, P5,000
10 Billed patients for service rendered, P80,000
11 Purchased supplies for cash, P4,000.
12 Purchased computers for P30,000 paying 30% down payment.
12 Received cash for services rendered, P 100,000
13 Received 50% from customers billed last April 10.
13 Paid semi-monthly salaries of employees, P15,000.
17 Billed customers for services rendered amounting to P70,000 with P20,000 paid, the
balance is to be paid next month.
20 Withdrew P6,000 cash for personal use.
23 Paid PLDT and PECO bills, P2,000
26 Paid P100,000 as monthly amortization on the mortgage
27 Paid the balance on the furniture purchased last April 5
29 Received cash from customers on account, P 24,000
30 Paid Salaries for second half of the month, P15,000
30 Paid miscellaneous expenses, P 2,000
Requirements:
1. Prepare a Journal Entries
FABM Assignment
Name: _________________________________________________________________ Block:
____________________________
Eva Yan medical clinic uses the following chart of accounts.
110 Cash 310 Eva Yan, Capital
120 Accounts Receivable
125 Allowance for Bad Debts 320 Eva Yan, Drawing
130 Unused Supplies 33O Income Summary
140 Land 410 Professional Fee
150 Building
510 Salaries Expense
155 Accumulated Dep-Building
160 Furniture and Fixtures 520 Advertising Expense
165 Accumulated Dep-F&F 530 Telephone Expense
170 Equipment 540 Utilities Expense
175 Accumulated Dep-Equipment
210 Accounts Payable 550 Taxes and Licenses
220 Mortgage Payable 560 Miscellaneous Expenses
570 Supplies Expense
580 Bad Debts Expense
590 Depreciation Expense
The following transactions took place during her first month of operations in the year 2019.
April 1 Yan invested P 100,000 cash, and land and building worth 2,000,000 into her medical
business. The land has a fair market value of P 1,000,000 and is mortgaged for
P500,000.
3 Paid city taxes of P8,000, including her license to operate.
5 Purchased furniture worth P50,000, paying 20,000 and the balance on account.
6 Paid Advertising expense, P5,000
10 Billed patients for service rendered, P80,000
11 Purchased supplies for cash, P4,000.
12 Purchased computers for P30,000 paying 30% down payment.
12 Received cash for services rendered, P 100,000
13 Received 50% from customers billed last April 10.
13 Paid semi-monthly salaries of employees, P15,000.
17 Billed customers for services rendered amounting to P70,000 with P20,000 paid, the
balance is to be paid next month.
20 Withdrew P6,000 cash for personal use.
23 Paid PLDT and PECO bills, P2,000
26 Paid P100,000 as monthly amortization on the mortgage
27 Paid the balance on the furniture purchased last April 5
29 Received cash from customers on account, P 24,000
30 Paid Salaries for second half of the month, P15,000
30 Paid miscellaneous expenses, P 2,000
Requirements:
1. Prepare a Journal Entries