Malou invested a car worth Php 550,000 and a cash of Php 1,200,000
Date Account Title and Explanation
1-Jun
Cash
Equipment
M, Capital
Initial Investment
Borrowed Php 250,000 from Mito Bank
Date Account Title and Explanation
4-Jun
Cash
Loan Payable
Borrowed from Mito Bank
Bought furniture from Slim's Php 30,000 on Account
Date Account Title and Explanation
5-Jun
Cash
Furniture
Bought furniture from Slim's on Account
Withdrew cash Php 100,000 for personal use
Date Account Title and Explanation
6-Jun
M, Drawings
Cash
Witdrawn cash for personal use
Rendered services to Happy tours Php 500,000 on account
Date Account Title and Explanation
15-Jun
Accounts Receivable
Service Revenue
Rendered services to Happy tours
Paid employee's salaries for Php 50,000
Date Account Title and Explanation
21-Jun
Salaries Expense
Cash
Paid employee's salaries
Collected amount from Happy tours.
Date Account Title and Explanation
30-Jun
Cash
Service Revenue
Collected amount from Happy tours
cash of Php 1,200,000
Debit Credit
Php 1,200,000.00
Php 550,000.00
Php 1,750,000.00
to Bank
Debit Credit
Php 250,000.00
Php 250,000.00
00 on Account
Debit Credit
Php 30,000.00
Php 30,000.00
rsonal use
Debit Credit
Php 100,000.00
Php 100,000.00
0,000 on account
Debit Credit
Php 500,000.00
Php 500,000.00
50,000
Debit Credit
Php 50,000.00
Php 50,000.00
tours.
Debit Credit
Php 500,000.00
Php 500,000.00
Gisel invested a cash of Php 1,500,000
Date Account Title and Explanation
1-Aug
Cash
G, Capital
Rendered services to La Swerte Co. Php 75,000 on account
Date Account Title and Explanation
5-Aug
Equipment
Accounts Receivable
Rendered services on account
Bought Equipment from Bill's Shop Php 120,000 issuing a note for the account
Date Account Title and Explanation
6-Aug
Equipment
Notes Payable
Bought equipment issuing a note
Withdrew Php 90,000 for personal use
Date Account Title and Explanation
7-Aug
G, Drawing
Cash
Withdrawn for personal use
Paid rent for the month Php 26,000
Date Account Title and Explanation
10-Aug
Prepaid rent
Cash
Prepaid rent for the month
Made additional investment of Php 32,000 in the business
Date Account Title and Explanation
15-Aug
Cash
Investment
Made additional investment in the business
Debit Credit
Php 1,500,000.00
Php 1,500,000.00
account
Debit Credit
Php 75,000.00
Php 75,000.00
ote for the account
Debit Credit
Php 120,000.00
Php 120,000.00
Debit Credit
Php 90,000.00
Php 90,000.00
Debit Credit
Php 26,000.00
Php 26,000.00
business
Debit Credit
Php 32,000.00
Php 32,000.00