Problem #16 p.

4-59

Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.


Journalizing

Date Account Titles Ref. Debit Credit
2014
Feb 2 Rent Expense 27,000
Cash 27,000
Paid Rent
Feb. 2 Paid this months rent, P27,000



Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 3 Cash 65,000
School Revenue 65,000
Revenue for Feb.
3 Received fees for this month's services, P65,000



Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 4 Supplies 8,500
Accounts Payable 8,500
Bought supplies on account
4 Purchased supplies on account, P8,500


Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 5 Gas & Oil Expense 4,000
Cash 4,000
Oil Change Payment
5 Paid for oil change on a service vehicle, P4,000

Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 6 Equipment 100,000
Accounts Payable 100,000
Ordered Equipment
6 Ordered playground equipment, P100,000


Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 8 Accounts Payable 17,000
Cash 17,000
Paid creditors
8 Made payments on account, P17,000


Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 9 Cash 120,000
Accounts Receivable 120,000
Collected from debtors
9 Collected from customers in account, P120,000


Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 10 Accounts Receivable 70,000
School Revenues 70,000
Billed customers
10 Billed customers who had not yet paid for this
month's rent services, P70,000



Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Transactions during the
month of February
Feb. 2 Paid this months rent, P27,000
3 Received fees for this month's services, P65,000
4 Purchased supplies on account, P8,500
5 Paid for oil change on a service vehicle, P4,000
6 Ordered playground equipment, P100,000
8 Made payments on account, P17,000
9 Collected from customers in account, P120,000
10 Billed customers who had not yet paid for this
month's rent services, P70,000
11 Paid for the supplies purchased on February 4.



Date Account Titles Ref. Debit Credit
2014
Feb 11 Accounts Payable 8,500
Cash 8,500
Payment of accounts
pertaining to Feb. 4 transaction
11 Paid for the supplies purchased on February 4.



Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 13 Accounts Payable 100,000
Cash 100,000
Payment of accounts
pertaining to Feb. 6 transaction
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000

Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 17 Equipment 29,000
Accounts Payable 29,000
Bought equipment on
account
17 Purchased equipment on account, P29,000


Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 19 Utilities Expense 14,500
Cash 14,500
Paid utility bill for Feb.
19 Paid this month's utility bill, P14,500


Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 22 Cash 50,000
Accounts Receivable 50,000
Payment from previously
billed customers
22 Received cash for one month's services from
customers previously billed, P50,000


Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 26 Salaries Expense 46,000
Cash 46,000
Paid salaries
26 Paid salaries of staff, P46,000

Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 27 Gas & Oil Expense 32,500
Accounts Payable 32,500
Received statement for gas
& oil used
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500


Transactions during the
month of February
Feb. 13 Received and paid for the playground equipment
ordered on February 6, P100,000
17 Purchased equipment on account, P29,000
19 Paid this month's utility bill, P14,500
22 Received cash for one month's services from
customers previously billed, P50,000
26 Paid salaries of staff, P46,000
27 Received statement of account for gas and oil used
by the service vehicles during the month, P32,500
28 Made a cash withdrawal of P11,000

Date Account Titles Ref. Debit Credit
2014
Feb 28 Ventic, Withdrawals 11,000
Cash 11,000
Cash withdrawal for
personal usage
28 Made a cash withdrawal of P11,000

Date Explanation P.R. Debit Credit
2014
Feb. 2 Paid Rent J-1 27,000
Date Account Titles Ref. Debit Credit
2014
Feb 2 Rent Expense 27,000
Cash 27,000
Paid Rent
Account: Rent Expense Account No. 520
Date Explanation P.R. Debit Credit
2014
Balance 189,000
Feb. 2 Paid Rent J-1 27,000
Account: Cash Account No. 110
Posting

Ventic Nursery School
Trial Balance
Jan. 31, 2014
Cash (110)
Accounts Receivables (120)
Equipment (140)
Service Vehicles (150)
Notes Payable (210)
Accounts Payable (220)
Ventic, Capital (310)
P 187,000
170,000
104,000
1,740,000
P 1,500,000
164,000
537,000
P 2,201,000 P 2,201,000
Trial Balance

Ventic Nursery School
Trial Balance
Feb. 28, 2014
Account Titles
Cash (110)
Accounts Receivables (120)
Supplies (130)
Equipment (140)
Service Vehicles (150)
Notes Payable (210)
Accounts Payable (220)
Ventic, Capital (310)
Ventic, Withdrawals (320)
School Revenues (410)
Gas & Oil Expense (510)
Salaries Expense (520)
Utilities Expense (530)
Rent Expense (540)
Dr. Cr.
P 194,000
70,000
8,500
233,000
1,740,000
P 1,500,000
208,500
537,000
11,000
135,000
36,000
46,000
14,500
27,000 _____________
P 2,380,500 P 2,380,500


The End