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    Dormitory Locators Journal Entries Date Accounts and Explanation Debit Credit

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    Eunice Fulgencio
    1) The owner invested cash into the business to purchase supplies, land, and pay expenses. 2) Revenue was received in advance but no other revenue was generated. Expenses for rent and utilities were paid. 3) Cash was withdrawn for personal use, resulting in a net loss for the period. Equity decreased due to the loss and withdrawal.

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    Dormitory Locators Journal Entries Date Accounts and Explanation Debit Credit

    Uploaded by

    Eunice Fulgencio
    138 views3 pages
    1) The owner invested cash into the business to purchase supplies, land, and pay expenses. 2) Revenue was received in advance but no other revenue was generated. Expenses for rent and utilities were paid. 3) Cash was withdrawn for personal use, resulting in a net loss for the period. Equity decreased due to the loss and withdrawal.

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    Band Alan

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    1) The owner invested cash into the business to purchase supplies, land, and pay expenses. 2) Revenue was received in advance but no other revenue was generated. Expenses for rent and utilities were paid. 3) Cash was withdrawn for personal use, resulting in a net loss for the period. Equity decreased due to the loss and withdrawal.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    138 views3 pages

    Dormitory Locators Journal Entries Date Accounts and Explanation Debit Credit

    Uploaded by

    Eunice Fulgencio
    1) The owner invested cash into the business to purchase supplies, land, and pay expenses. 2) Revenue was received in advance but no other revenue was generated. Expenses for rent and utilities were paid. 3) Cash was withdrawn for personal use, resulting in a net loss for the period. Equity decreased due to the loss and withdrawal.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
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    Dormitory Locators Journal Entries

    Date Accounts and Explanation Debit Credit


    July a Cash ₱45,000.00
    Capital ₱45,000.00
    Owner's cash investment

    b Supplies ₱3,500.00
    Accounst Payable ₱3,500.00
    Purschased supplies on account

    c Land ₱300,000.00
    Cash ₱300,000.00
    Acquired land in cash

    d Cash ₱19,000.00
    Unearned Revenue ₱19,000.00
    Received payment in advance

    e Accounts Payable ₱1,000.00


    Cash ₱1,000.00
    Paid cash on accounst payable

    g Rent Expense ₱4,000.00


    Utilities Expense ₱1,000.00
    Cash ₱5,000.00
    Paid cash on expenses

    h Calamba, Withdrawals ₱12,000.00


    Cash ₱12,000.00
    Withdrew cash for personal use
    Dormitory Locators Dor
    Statement of Financial Performance Statemen
    For the Month ended Decemenber 31, 2021 For the Month

    Revenues Asset
    0
    Less: Expenses
    Utilities Expense 1,000
    Rent Expenses 4,000 TOTAL ASSET
    -5,000
    Liabilities

    Dormitory Locators TOTAL LIABILITIES


    Statement of Changes in Equity
    For the Month ended Decemenber 31, 2021 Equity

    Beginning Capital of Calamba 450,000


    Add: Additional Investments TOTAL LIABILITIES AND EQUIT
    Profit -5,000
    TOTAL 445,000
    Less: Calamba, Withdrawals 12,000
    Ending Capital of Calamba 433,000
    Dormitory Locators
    Statement of Financial Position
    For the Month Ended December 31,2021

    Cash 151,000
    Supplies 3,500
    Land 300,000
    TOTAL ASSET 454,500

    Accounts Payable 2,500


    Unearned Revenue 19,000
    TOTAL LIABILITIES 21,500

    Equity
    Calamba, Capital 433,000
    454,500
    TOTAL LIABILITIES AND EQUITY

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