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    FABM 2 MIDTERM AutoRecovered

    Uploaded by

    Merdwindelle Allagones
    The document is a general journal containing accounting transactions for Virgie Dal, CPA. It records various cash payments and receipts, purchases of assets and supplies, revenue earned from accounting services, and withdrawals from May 2nd to May 28th. Key transactions include an initial investment of $92,500, purchases of office equipment and supplies on account, accounting revenue earned, payment of expenses like salaries and rent, and a $8,150 withdrawal.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    FABM 2 MIDTERM AutoRecovered

    Uploaded by

    Merdwindelle Allagones
    238 views15 pages
    The document is a general journal containing accounting transactions for Virgie Dal, CPA. It records various cash payments and receipts, purchases of assets and supplies, revenue earned from accounting services, and withdrawals from May 2nd to May 28th. Key transactions include an initial investment of $92,500, purchases of office equipment and supplies on account, accounting revenue earned, payment of expenses like salaries and rent, and a $8,150 withdrawal.

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    FABM_2_MIDTERM_AutoRecovered_.xlsx

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    The document is a general journal containing accounting transactions for Virgie Dal, CPA. It records various cash payments and receipts, purchases of assets and supplies, revenue earned from accounting services, and withdrawals from May 2nd to May 28th. Key transactions include an initial investment of $92,500, purchases of office equipment and supplies on account, accounting revenue earned, payment of expenses like salaries and rent, and a $8,150 withdrawal.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    238 views15 pages

    FABM 2 MIDTERM AutoRecovered

    Uploaded by

    Merdwindelle Allagones
    The document is a general journal containing accounting transactions for Virgie Dal, CPA. It records various cash payments and receipts, purchases of assets and supplies, revenue earned from accounting services, and withdrawals from May 2nd to May 28th. Key transactions include an initial investment of $92,500, purchases of office equipment and supplies on account, accounting revenue earned, payment of expenses like salaries and rent, and a $8,150 withdrawal.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 15

    Virgie Dal, CPA

    General Journal

    Date Account Titles and Explanation F Debit Credit


    May 2 Cash 92,500.00
    Virgie Dal, Capital 92,500.00
    Initial investment

    3 Office Equipment 36,800.00


    Accounts payable - Gican furniture 36,800.00
    Accquired equipment on account

    4 Office Supplies 17,100.00


    Accounts payable - Lorenzo 17,100.00
    Accquired supplies on account

    6 Accounts Receivable - Cayaco 29,200.00


    Accounting Revenue 29,200.00
    Service rendered

    7 Accounting Library 19,500.00


    Cash 19,500.00
    Purchased accounting and tax books

    8 Accounts Payable - Lorenzo 4,100.00


    Cash 4,100.00
    Paid Lorenzo Office Supply Company

    10 Office Condominium 265,000.00


    Cash 38,000.00
    Notes Payable 227,000.00
    Paid Lorenzo Office Supply Company

    12 Salaries Expense 14,200.00


    Cash 14,200.00
    Paid Salaries

    13 Cash 9,750.00
    Accounts Receivable - Cayaco 9,750.00
    Received payment from cayaco

    16 Telephone Expense 650.00


    Cash 650.00
    Paid Telephone bill
    19 Cash 14,600.00
    Accounting Revenue 14,600.00
    Service Rendered

    page 1

    General Journal

    Date Account Titles and Explanation F Debit Credit


    May 22 Office Supplies 4,650.00
    Accounts Payable - Lorenzo 4,650.00
    Accquired supplies on account

    23 Virgie Dal, Withdrawal 8,150.00


    Cash 8,150.00
    Drawings

    25 Salaries Expense 10,300.00


    Cash 10,300.00
    Paid Salaries

    26 Accounts Receivable -Bosante Exporters 31,600.00


    Accounting Revenue 31,600.00
    Service Rendered

    27 Proffesional Dues Expense 5,500.00


    Cash 5,500.00
    Paid dues on PICPA - Tacloban

    28 Rent Expense 3,250.00


    Cash 3,250.00
    Paid Rent

    -
    page 2
    Cash Accounts Receivable- Cayaco Accounts Receivable - Bosante
    92,500.00 19,500.00 29,200.00 9,750.00 31,600.00
    4,100.00
    38,000.00 19,450.00
    14,200.00
    9,750.00 650.00
    14,600.00 8,150.00
    116,850.00 10,300.00
    5,500.00 Virgie dal, Capital Accounts Payable - Gican
    3,250.00 92,500.00
    103,650.00

    13,200.00
    Office Condominium Notes Payable
    265,000.00

    Accounting Revenue Virgie dal, Withdrawal


    29,200.00 8,150.00
    14,600.00
    31,600.00
    75,400.00
    ounts Receivable - Bosante Office Equipment Office Supplies
    36,800.00 17,100.00
    4,650.00
    21,750.00

    ccounts Payable - Gican Accounts Payable - Lorenzo Accounting Library


    36,800.00 4,100.00 17,100.00 19,500.00
    4,650.00
    17,650.00

    Notes Payable Salaries expense Telephone Expense


    227,000.00 14,200.00 650.00
    10,300.00

    24,500.00
    Virgie dal, Withdrawal
    Professional Dues Expense Rent Expense
    5,500.00 3,250.00
    Account: Cash
    Date Explanation Debit Credit
    May 2 Initial Investment 92,500.00
    7 Purchased accounting and tax books 19,500.00
    8 Paid Lorenzo Office Supply Company 4,100.00
    10 Paid Lorenzo Office Supply Company 38,000.00
    12 Paid Salaries 14,200.00
    13 Received cash from cayaco 9,750.00
    16 Paid Telephone bill 650.00
    19 Service Rendered 14,600.00
    23 Drawings 8,150.00
    25 Paid Salaries 10,300.00
    27 Paid dues on PICPA - Tacloban 5,500.00
    28 Paid Rent 3,250.00

    Account: Accounts Receivable- Bosante


    Date Explanation Debit Credit
    May 26 Service Rendered 31,600.00

    Account: Accounts Receivable- Cayaco


    Date Explanation Debit Credit
    May 6 Service rendered 29,200.00
    13 Received payment from cayac 9,750.00

    Account: Office Condominium


    Date Explanation Debit Credit
    May 10 Paid Lorenzo Office Supply Company 265,000.00

    Account :Office Equipment


    Date Explanation Debit Credit
    May 3 Accquired equipment on account 36,800.00

    Account :Office Supplies


    Date Explanation Debit Credit
    May 4 Accquired supplies on account 17,100.00
    22 Accquired supplies on account 4,650.00

    Account: Accounting Library


    Date+A46: Explanation Debit Credit
    May 7 Purchased accounting and tax books 19,500.00

    Account: Accounts Payable - Gican


    Date Explanation Debit Credit
    May 3 Accquired equipment on accou 36,800.00

    Accoumt : Accounts Payable - Lorenzo


    Date Explanation Debit Credit
    May 4 Accquired supplies on account 17,100.00
    8 Accounts Payable - Lorenzo 4,100.00
    22 Accquired supplies on account 4,650.00

    Account: Notes Payable


    Date Explanation Debit Credit
    May 10 Paid Lorenzo Office Supply Company 227,000.00

    Account: Virgie Dal, Capital


    Date Explanation Debit Credit
    May 2 Initial Investment 92,500.00

    Account: Virgie Dal, Withrawal


    Date Explanation Debit Credit
    May Drawings 8,150.00

    Account: Accounting Revenue


    Date Explanation Debit Credit
    May 6 Service rendered 29,200.00
    19 Service rendered 14,600.00
    26 Service rendered 31,600.00

    Account: Professional Dues Expense


    Date Explanation Debit Credit
    May 27 Paid dues on PICPA - Tacloban 5,500.00

    Account:Rent Expense
    Date Explanation Debit Credit
    May 28 Paid rent 3,250.00

    Account: Salaries expense


    Date Explanation Debit Credit
    May 12 paid salaries 14,200.00
    25 Paid salaries 10,300.00

    Account: Telephone Expense


    Date Explanation Debit Credit
    May 16 Paid Telephone bill 650.00
    Balance
    92,500.00
    73,000.00
    68,900.00
    30,900.00
    16,700.00
    26,450.00
    25,800.00
    40,400.00
    32,250.00
    21,950.00
    16,450.00
    13,200.00

    Balance
    31,600.00

    Balance
    29,200.00
    19,450.00

    Balance
    26,500.00

    Balance
    36,800.00

    Balance
    17,100.00
    21,750.00
    Balance
    19,500.00

    Balance
    36,800.00

    Balance
    17,100.00
    13,000.00
    17,650.00

    Balance
    227,000.00

    Balance
    92,500.00

    Balance
    8,150.00

    Balance
    29,200.00
    43,800.00
    75,400.00

    Balance
    5,500.00
    Balance
    3,250.00

    Balance
    14,200.00
    24,500.00

    Balance
    650.00
    Virgie Dal, Accounting Firm
    Trial Balance
    May 2014
    TRIAL BALANCE
    Accounts
    Debit Credit
    Cash P 13,200.00
    Accounts Receivable- Bosante 31,600.00
    Accounts Receivable - Cayaco 19,450.00
    Office Condominium 265,000.00
    Office Equipment 36,800.00
    Office Supplies 21,750.00
    Accounting Library 19,500.00
    Accounts Payable - Gican 36,800.00
    Accounts Payable - Lorenzo 17,650.00
    Notes Payable 227,000.00
    Virgie Dal, Capital 92,500.00
    Virgie dal, Withdrawal 8,150.00
    Accounting Revenue 75,400.00
    Professional Dues Expense 5,500.00
    Rent Expense 3,250.00
    Salaries expense 24,500.00
    Telephone Expense 650.00
    449,350.00 449,350.00
    P
    -

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