Name _____________________________________________________ Section _____________________
Date Account Title and Explanation PR Debit
2021
Cash 101 2. _________
Dec-01 1.___________________________________ 301
4. _____________________________
Taxes and Licenses 7. _______ ₱ 370.00
5. ___________ 6. __________________________________ 8. _______
Payment of business permit
9. ______________________________________ 102 ₱ 3,000.00
Dec-06 10. __________________________________ 101
Purchase of tables, chairs, shelves and other fixtures for cash
11. ______________________________________ 103 13.________
12. __________________________________ 101
Dec-07
Accounts Payable 201
Acquired service equipment with 50% downpayment
15. ______________________________________ 105 17.________
Dec-07 16. __________________________________ 201
Purchase supplies on account
18. ______________________________________ 101 ₱ 1,900.00
Dec-09 19. __________________________________ 401
Rendered Service
20. ______________________________________ 104 ₱ 4,250.00
Dec-12 21. __________________________________ 401
Rendered Service on account. Collectible within 10 days
22. ______________________________________ 24. ______ 26. _______
Dec-14 23. __________________________________ 25. ______
Additional Investment of the owner
Accounts Receivable 104 ₱ 3,400.00
Dec-15 Service Revenue 401
Rendered Service on account. Collectible within 30 days
28. ____________________________________ 101 ₱ 4,250.00
Dec-22 Accounts Receivable 104
Collection from customer in transaction 7
29.______________________________________ 201 ₱ 1,500.00
Dec-23 Cash 101
Payment of liability
30.______________________________________ 302 ₱ 7,000.00
Dec-25 Cash 101
Withdrawal of the owner from the business
31. ____________________________________ 502 ₱ 1,500.00
Dec-29 Cash 101
Payment of Rental
Cash 101 ₱ 12,000.00
Dec-30 32._________________________________ 202
Acquired a bank loan
33. ____________________________________ 503 ₱ 3,500.00
Dec-31 34. ________________________________ 101
35. ___________________________
__________
Credit
3. _________
₱ 370.00
₱ 3,000.00
14._______
₱ 8,000.00
₱ 1,500.00
₱ 1,900.00
₱ 4,250.00
27. _______
₱ 3,400.00
₱ 4,250.00
₱ 1,500.00
₱ 7,000.00
₱ 1,500.00
₱ 12,000.00
₱ 3,500.00
Gray Electronic Repair Services December 2021 transactions.
Transaction #1: On December 1, 2021, Mr. Donald Gray started Gray Electronic Repair Services by investing ₱100,000.
Chart of Accounts
Transaction #2: On December 5, Gray Electronic Repair Services paid registration and licensing fees for the business, ₱370. Account
Code ASSETS
Transaction #3: On December 6, the company acquired tables, chairs, shelves, and other fixtures for a total of ₱3,000. The entire
amount was paid in cash. 101 Cash
Transaction #4: On December 7, the company acquired service equipment for ₱16,000. The company paid a 50% down payment and
the balance will be paid after 60 days. 102 Furniture and Fixtures
Transaction #5: Also on December 7, Gray Electronic Repair Services purchased service supplies on account amounting to ₱1,500.
103 Equipment
Transaction #6: On December 9, the company received ₱1,900 for services rendered. 104 Accounts Receivable
Transaction #7: On December 12, the company rendered services on account, ₱4,250.00.The amount is to be collected after 10 days.
105 Supplies
Transaction #8: On December 14, Mr. Gray invested an additional ₱3,200.00 into the business. LIABILITIES
Transaction #9: Rendered services to a big corporation on December 15. due within 30 days in the the amount of ₱3,400.
201 Accounts Payable
Transaction #10: On December 22, the company collected from the customer in transaction #7. 202 Loans Payable
Transaction #11: On December 23, the company paid some of its liability in transaction #5 by issuing a check.
Transaction #12: On December 25, the owner withdrew cash due to an emergency needof ₱7,000 from the company.
Transaction # 13: On December 29, the company paid rent for December, ₱1,500.
Transaction #14: On December 30, the company acquired a ₱12,000 bank loan.
Transaction #15: On December 31, the company paid salaries to its employees, ₱3,500.
ccounts
Account
Code OWNERS EQUITY
301 Donald Gray, Capital Chart of Accounts
302 Gray, Drawing Account Code
ASSETS Account Code
REVENUE 101 Cash 301
401 Service Revenue 102 Furniture and Fixtures 302
EXPENSES 103 Equipment
501 Taxes and Licenses 104 Accounts Receivable 401
502 Rent Expense 105 Supplies
503 Salaries and Wages LIABILITIES 501
201 Accounts Payable 502
202 Loans Payable 503
OWNERS EQUITY
Donald Gray, Capital
Gray, Drawing
REVENUE
Service Revenue
EXPENSES
Taxes and Licenses
Rent Expense
Salaries and Wages
Name:______________________________________________ Section:______________________ Account Name _____________________________
Date Item PR Debit
Account Name _____________________________ Account Code: 101 Dec-07
Date Item PR Debit Credit Balance Dec-07
Dec-01 Dec-23
Dec-05 Account Name _____________________________
Dec-06 Date Item PR Debit
Dec-07
Dec-09 Account Name _____________________________
Dec-14 Date Item PR Debit
Dec-22 Dec-01
Dec-23 Dec-14
Dec-25 Account Name _____________________________
Dec-29 Date Item PR Debit
Dec-30
Dec-31 Account Name _____________________________
Account Name _____________________________ Account Code: 102 Date Item PR Debit
Date Item PR Debit Credit Balance Dec-09
Dec-12
Account Name _____________________________ Account Code: 103 Dec-15
Date Item PR Debit Credit Balance Account Name _____________________________
Date Item PR Debit
Account Name _____________________________ Account Code: 104
Date Item PR Debit Credit Balance Account Name _____________________________
Dec-12 Date Item PR Debit
Dec-15
Dec-22 Account Name _____________________________
Account Name _____________________________ Account Code: 105 Date Item PR Debit
Date Item PR Debit Credit Balance
Account Code: 201
Credit Balance
Account Code: 202
Credit Balance
Account Code: 301
Credit Balance
Account Code: 302
Credit Balance
Account Code: 401
Credit Balance
Account Code: 501
Credit Balance
Account Code: 502
Credit Balance
Account Code: 503
Credit Balance
