GENERAL JOURNAL Page no.

POSTING
DATE ACCOUNT TITLES AND EXPLANATION REFERENCE DEBIT CREDIT
February 01, 2019 Cash 110 P 300,000
Patkris Ignacio- Capital 310 P 300,000
To record initial capital invested for Patkris Ignacio Weddings Services.
February 02, 2019 Prepaid Rent 530 72,000
Cash 110 72,000
To record paid rent to NJ Lobarbio for 6 months from February 2019 to July 2019.
February 03, 2019 Supplies 130 15,000
Accounts Payable 110 15,000
To record purchased of supplies on account.
February 04, 2019 Office Equipment 170 125,000
Cash 110 62,500
Accounts Payable 220 62,500
To record 50% downpayment for office equipment w/ 50% balance due after 60 days.
February 09, 2019 Accounts Payable 130 7,500
Cash 110 7,500
To record supplies purchased on account.
February 15, 2019 Salaries Expense 510 20,000
Cash 110 20,000
To record staff salaries for two weeks.
February 18, 2019 Cash 110 50,000
Service Revenues 410 50,000
To record services rendered.
February 25, 2022 Accounts Receivable 120 95,000
Service Revenues 410 95,000
To record services rendered for NJ Medina.
February 27, 2019 Patkris Ignacio- Withdrawal 320 25,000
Cash 110 25,000
To record withdrawal from Initial Capital for Patkris.
February 28, 2019 Salaries Expense 510 16,000
Cash 110 16,000
To record staff salaries for two weeks.
THE LEDGER

Account: Cash
DATE EXPLANATION J.R. DEBIT
2019
Feb. 1 GJ1 P 300,000
Feb. 2 GJ1
Feb. 4 GJ1
Feb. 9 GJ2
Feb. 15 GJ3
Feb. 18 GJ4 50,000
Feb. 27 GJ5
Feb. 28 GJ6

Account: Paktris Ignacio- Capital

DATE EXPLANATION J.R. DEBIT
2019
Feb. 1 Initial investment GJ1

Account: Prepaid Rent

DATE EXPLANATION J.R. DEBIT
2019
Feb. 2 Paid rent GJ1 P 72,000

Account: Supplies
DATE EXPLANATION J.R. DEBIT
2019
Feb. 3 GJ1 P 15,000

Account: Office Equipment

DATE EXPLANATION J.R. DEBIT
2019
Feb. 4 Purchased Equipment GJ1 P 125,000
Account: Accounts Payable
DATE EXPLANATION J.R. DEBIT
2019
Feb. 3 GJ1
Feb. 4 50% remaining balance on the account GJ1
Feb. 9 GJ1 P 7,500

Account: Salaries Expense

DATE EXPLANATION J.R. DEBIT
2019
Feb. 15 GJ1 P 20,000
Feb. 28 GJ1 16,000

Account: Service Revenues

DATE EXPLANATION J.R. DEBIT
2019
Feb. 18 Payment to the service rendered GJ1
Feb. 25 Payment to the service rendered GJ1

Account: Accounts Receivable

DATE EXPLANATION J.R. DEBIT
2019
Feb. 25 GJ1 P 95,000

Account: Patkris, Withdrawal

DATE EXPLANATION J.R. DEBIT
2019
Feb. 27 Withdrawal GJ1 P 25,000
Account No. 110
CREDIT BALANCE

P 300,000
P 72,000 228,000
62,500 165,500
7,500 158,000
20,000 138,000
188,000
25,000 163,000
16,000 147,000

Account No. 310

CREDIT BALANCE

P 300,000 P 300,000

Account No. 140

CREDIT BALANCE

P 72,000

Account No. 130

CREDIT BALANCE

P 15,000

Account No. 170

CREDIT BALANCE

P 125,000
Account No. 220
CREDIT BALANCE

P 15,000 P 15,000
62,500 77,500
70,000

Account No. 510

CREDIT BALANCE

P 20,000
36,000

Account No. 410

CREDIT BALANCE

P 50,000 P 50,000
95,000 145,000

Account No. 120

CREDIT BALANCE

P 95,000

Account No. 320

CREDIT BALANCE

P 25,000
UNADJUSTED TRIAL BALANCE

ACCOUNT TITLE AND EXPLANATION DEBIT CREDIT

Cash P 147,000
Patkris Ignacio- Capital P 300,000
Prepaid Rent 72,000
Supplies 15,000
Office Equipment 125,000
Accounts Payable 70,000
Salaries Expense 36,000
Service Revenues 145,000
Accounts Receivable 95,000
Patkris Ignacio- Withdrawal 25,000
TOTAL P 515,000 P 515,000
 Patkris Ignacio Wedding Sevices
Statement of Financial Performance
For the month ended February 28, 2019

Services Revenues P 145,000

Less: Expenses
Salaries Expense P 36,000 36,000
Net Income P 109,000
 Patkris Ignacio Wedding Sevices
Statement of Changes on Owner's Equity
For the month ended February 28, 2019

Patkris Ignacio, Capital - 2/1/2019 P 300,000

Add: Net Income 109,000
Total P 409,000
Less: Withdrawal 25,000
Patkris Ignacio, Capital 2/28/2019 P 384,000
 Patkris Ignacio Wedding Sevices
Statement of Financial Position
February 28, 2019

Assets
Cash P 147,000
Accounts Receivable 95,000
Prepaid Rent 72,000
Office Equipment 125,000
Supplies 15,000
Total Assets P 454,000

Liabilities and Owner's Equity

Accounts Payable P 70,000
Patkri Ignacio, Capital 384,000
Total Liabilities and Owner's Equity P 454,000