Prepare the journal entry for each transaction Directions: Prepare the journal entry for each transaction. Use the following accountbers for posting rcierence, write your anSwers on a separate sheetof paper.AssetsRevenue101Cash401Service Revenue102Accounts Receivable Expenses103Supplies501Salaries Expense104Service Vehicle502Rent ExpenseLiability503Utilities Expense201Accounts PayableAdvertising Expense504Owner's Equitv505Miscellancous Expense301Angelie. Capital302Angelie, DrawingsMichelle Angelié established Angelie's Advertising Business. The following arethe transactions for the whole month of October 2019.Michele Angelie deposited P250,000 under the name of the business.She acquired a service vehicle in the amount of P195,000 on account.Oct.13She acquired supplies for cash worth P57,000.She received P87,500 cash for painted signs.10She paid the month's rent amounting to P25,000.11She painted signs for Mundo Mobile on account for P170,000.12She paid P55,000 on account from October 2.16She withdrew P25,000 for personal use.23She collected P35,000 from Mundo Mobile.27She paid salaries amounting to P57,000 for the month.30She paid PH Telecom P7,500 for communication services for themonth.31She paid the bill amountine to P5.500 to AdLamao for advertising forthe month.:2:

s: Prepare the journal entry for each transaction. Use the following account numbers for posting reference. Writc your answers on a separate shect of paper. Assets Revenue 101 Cash 401 Service Revenue 102 Accounts Receivable Expenses

s: Prepare the journal entry for each transaction. Use the following account numbers for posting reference. Writc your answers on a separate shect of paper. Assets Revenue 101 Cash 401 Service Revenue 102 Accounts Receivable Expenses

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 11PB: Prepare journal entries to record the following transactions. Create a T-account for Unearned...

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Arrange the following steps in the posting process in correct order: a. Write the ledger account number in the Post. Ref. column of the journal. b. Write the amount of the transaction. c. Write the date of the transaction. d. Write the page number of the journal in the Post. Ref. column of the ledger account.
Read each definition below and write the number of the definition in the blank beside the appropriate term. The quiz solutions appear at the end of the chapter. Event External event Internal event Transaction Source document Account Chart of accounts General ledger Debit Credit Double-entry system Journal Posting Journalizing General journal Trial balance A numerical list of all accounts used by a company. A list of each account and its balance; used to prove equality of debits and credits. A happening of consequence to an entity. An entry on the right side of an account. An event occurring entirely within an entity. A piece of paper that is used as evidence to record a transaction. The act of recording journal entries. An entry on the left side of an account. The process of transferring amounts from a journal to the ledger accounts. An event involving interaction between an entity and its environment. A record used to accumulate amounts for each individual asset, liability, revenue, expense, and component of stockholders equity. A book, a file, a hard drive, or another device containing all of the accounts. A chronological record of transactions. Any event that is recognized in a set of financial statements. The journal used in place of a specialized journal. A system of accounting in which every transaction is recorded with equal debits and credits and the accounting equation is kept in balance.
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