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 Problem: 13 (Journalizing, Posting and Preparing a Trial balance)
ACC
OUN On Mar. 1, 2019, Rey Fernan Refozar, A recent medical board topnotcher, started his medical practice. During the
month of march, the following transactions were completed.
TIN
G
Mar. 1 Refozar invested P42,500 personal funds in a new bank account in the name of Rey Fernan Refozar M.D.
Mar. 2 Acquired Medical equipment costing P95,000 from tambilo medical equipment, paying P15,000 in cash, and financing
remainder by issuing a P80,000 note payable.
Mar. 3 Paid rent for the month of march. P7,500.
Mar. 5 Acquired medical supplies from suiza medical supplies on account, P15,250.
Mar. 7 Received P18,450 in cash from patients for medical services rendered this week.
Mar. 9 Paid Pablo labs for preparing laboratory works on a patient, P1,800.
Mar. 12 Paid salaries of medical technicians and receptionist, P9,600.
Mar. 15 Billed patient P51,700 for service rendered.
Mar. 17 Paid suiza medical supply P3,750 on account.
Mar. 20 Paid telephone expense, P850.
Mar. 21 Paid miscellaneous expense, P1,150.
Mar. 22 Received P27,500 from patients billed on Mar. 15.
Mar. 23 Acquired additional medical supplies from suiza medical supply on account, P9,100.
Mar. 25 Paid salaries, P11,200.
Mar. 26 Billed patients P40,150 for service rendered.
Mar. 27 Paid suiza medical supply, P6,150 on account.
Mar. 28 Withdrew P15,000 from medical practice.
JOU
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ACC
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TIN Journal On Mar. 1, 2019, Rey Fernan Refozar, A recent medical board topnotcher, started his
medical practice. During the month of march, the following transactions were
completed.

G
DATE ACCOUNTS TITLE AND EXPLANATION P.R DEBIT CREDIT
Cash 110 ₱ 42,500
Mar. 1 Refozar, Capital 310 ₱ 42,500
Initial Investment
Medical equipment 140 ₱ 95,000
Cash 110 ₱ 15,000
Mar. 2
Note Payable 210 ₱ 80,000
To record medical equipment acquired to tambilo medical
equiment

Rent expenses 520 ₱ 7,500

Mar. 3 Cash 110 ₱ 7,500
To record Rent expenses
 Medical supplies 130 ₱ 15,250
Mar. 5 Account payable 220 ₱ 15,250
To record medical supplies acquired from Suiza medical
supplies on account
Cash 110 ₱ 18,450
Mar. 7 Medical revenue 410 ₱ 18,450
To record receivable
Laboratory expenses 530 ₱ 1,800
Mar. 9 Cash 110 ₱ 1,800
To record laboratory expenses
Salaries expenses 510 ₱ 9,600
Mar. 12 Cash 110 ₱ 9,600
To record salaries expenses for medical technicians and
receptionist
Accounts receivable 120 ₱ 51,700
Mar. 15 Medical revenue 410 ₱ 51,700
To record service revenue
 Accounts payable 220 ₱ 3,750
Mar. 17 Cash 110 ₱ 3,750
To record accounts payable to suiza medical supply

Telephone expense 510 ₱ 850

Mar. 20 Cash 110 ₱ 850
To record telephone expense
Miscellaneous expense 550 ₱ 1,150
Mar. 21 Cash 110 ₱ 1,150
To record miscellaneous expense
Cash 110 ₱ 27,500
Mar. 22 Account receivable 120 ₱ 27,500
To record receivable from patients
Medical supplies 130 ₱ 9,100
Mar. 23 Account payable 220 ₱ 9,100
To record medical supplies
 Salaries expense 510 ₱ 11,200
Mar. 25 Cash 110 ₱ 11,200
To record salaries payable
Account receivable 120 ₱ 40,150
Mar. 26 Medical revenue 410 ₱ 40,150
To record service rendered billed to patient

Accounts payable 220 ₱ 6,150

Mar. 27 Cash 110 ₱ 6,150
To record accounts payable
Refozar, Withdrawal 320 ₱ 15,000
Mar. 28 Cash 110 ₱ 15,000
To record drawings
LE
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ACC
OUN
TIN Ledger On Mar. 1, 2019, Rey Fernan Refozar, A recent medical board topnotcher, started his
medical practice. During the month of march, the following transactions were
completed.

G
Account Title: CASH Account no. 110
DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
Mar. 1 To record initial capital J-1 ₱ 42,500 ₱ 42,500
To record medical equipment acquired to
Mar. 2 J-1 ₱ 15,000 ₱ 27,500
tambilo medical equipment
Mar. 3 To record rent expenses J-1 ₱ 7,500 ₱ 20,000
Mar. 7 To record receivable J-1 ₱ 18,450 ₱ 38,450
Mar. 9 To record laboratory expense J-1 ₱ 1,800 ₱ 36,650
To record salaries expenses for medical
Mar. 12 J-1 ₱ 9,600 ₱ 27,050
technicians and receptionist
 Mar. 17 To record accounts payable to suiza J-1 ₱ 3,750 ₱ 23,300
medical supply
Mar. 20 To record telephone expense J-1 ₱ 850 ₱ 22,450
Mar. 21 To record miscellaneous expense J-1 ₱ 1,150 ₱ 21,300
Mar. 22 To record receivable from patients J-1 ₱ 27,500 ₱ 48,800
Mar. 25 To record salaries payable J-1 ₱ 11,200 ₱ 37,600
Mar. 27 To record accounts payable J-1 ₱ 6,150 ₱ 31,450
Mar. 28 To record drawings J-1 ₱ 15,000 ₱ 16,450
₱ 88,450 ₱ 72,000 ₱ 16,450
DEBIT BALANCE ₱ 16,450
Account Title: Account receivable Account no. 120

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 15 To record Service revenue J-1 ₱ 51,700 ₱ 51,700
Mar. 22 To record receivable from patients J-1 ₱ 27,500 ₱ 24,200
To record service rendered billed to
Mar. 26 J-1 ₱ 40,150 ₱ 64,350
patient
₱ 91,850 ₱ 27,500 ₱ 64,350
DEBIT BALANCE ₱ 64,350
Account Title: Medical supplies Account no. 130
DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
To record medical supplies acquired from
Mar. 5 J-1 ₱ 15,250 ₱ 15,250
suiza medical supplies on account
Mar. 26 To record medical supplies J-1 ₱ 9,100 ₱ 24,350
DEBIT BALANCE ₱ 24,350

Account Title: Medical equipment Account no. 140

DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
To record medical equipment acquired to
Mar. 2 J-1 ₱ 95,000 ₱ 95,000
tambilo medical equipment
DEBIT BALANCE ₱ 95,000
Account Title: Note payable Account no. 210
DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
To record medical equipment acquired to
Mar. 2 tambilo medical equipment J-1 ₱ 80,000 ₱ 80,000

DEBIT BALANCE ₱ 80,000

Account Title: Accounts payable Account no. 220

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 5 To record medical supplies J-1 ₱ 15,250 ₱ 15,250
Mar. 23 To record medical supplies J-1 ₱ 9,100 ₱ 24,350
DEBIT BALANCE ₱ 24,350
Account Title: Accounts payable Account no. 220
DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
To record accounts payable to suiza
Mar. 17 J-1 ₱ 3,750 ₱ 3,750
medical supplies
Mar. 27 To record accounts payable J-1 ₱ 6,150 ₱ 9,900
DEBIT BALANCE ₱ 9,900

Account Title: Medical revenue Account no. 410

DATE EXPLANATION J.R DEBIT CREDIT BALANCE
2019
Mar. 7 To record receivable J-1 ₱ 18,450 ₱ 18,450
Mar. 15 To record medical supplies J-1 ₱ 51,700 ₱ 70,150
To record service rendered billed to
Mar. 26 J-1 ₱ 40,150 ₱ 110,300
patient
DEBIT BALANCE ₱ 11,300
Account Title: Salaries expenses Account no. 510

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 12 To record salaries expense J-1 ₱ 9,600 ₱ 9,600
Mar. 25 To record salaries expense J-1 ₱ 11,200 ₱ 20,800
DEBIT BALANCE ₱ 20,800

Account Title: Rent expense Account no. 520

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 3 To record rent expense J-1 ₱ 7,500 ₱ 7,500
DEBIT BALANCE ₱ 7,500
Account Title: Laboratory expense Account no. 530

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 9 To record Laboratory expense J-1 ₱ 1,800 ₱ 1,800
DEBIT BALANCE ₱ 1,800

Account Title: Telephone expense Account no. 540

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 20 To record telephone expense J-1 ₱ 850 ₱ 850
DEBIT BALANCE ₱ 850
Account Title: Miscellaneous expense Account no. 550

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 21 To record miscellaneous expense J-1 ₱ 1,150 ₱ 1,150
DEBIT BALANCE ₱ 1,150

Account Title: Refozar, Capital Account no. 310

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 1 Initial Investment J-1 ₱ 42,500 ₱ 42,500
DEBIT BALANCE ₱ 42,500
Account Title: Refozar, Withdrawals Account no. 320

DATE EXPLANATION J.R DEBIT CREDIT BALANCE

2019
Mar. 28 To record drawings J-1 ₱ 15,000 ₱ 15,000
DEBIT BALANCE ₱ 15,000
 T
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TIN T account On Mar. 1, 2019, Rey Fernan Refozar, A recent medical board topnotcher, started
his medical practice. During the month of march, the following transactions were
completed.

G
CASH ACCOUNT RECEIVABLE
Mar. 1 ₱ 42,500 Mar. 2 ₱ 15,000 Mar. 15 ₱ 51,700 Mar. 22 ₱ 27,500
7 ₱ 18,450 3 ₱ 7,500 26 ₱ 40,150
22 ₱ 27,500 9 ₱ 1,800
12 ₱ 9,600 ₱ 91,850 ₱27,500
17 ₱ 3,750 Bal. ₱ 64,350
20 ₱ 850
21 ₱ 1,150
25 ₱ 11,200
27 ₱ 6,150 MEDICAL SUPPLIES
28 ₱ 15,000
Mar. 5 ₱ 15,250
₱ 88,450 ₱ 72,000
Bal. ₱ 16,450 ₱ 9,100
Bal. ₱ 24,350
 MEDICAL EQUIPMENT ACCOUNTS PAYABLE
Mar. 2 ₱ 95,000 Mar. 17 ₱ 3,750 Mar. 5 ₱ 15,250
27 ₱ 6,150 23 ₱ 9,100
Bal. ₱ 95, 000
₱ 9,900 ₱24,350
Bal. ₱ 14,450

NOTES PAYABLE
Mar. 2 ₱ 80,000

Bal. ₱ 80,000 SALARIES EXPENSES

Mar. 12 ₱ 9,600
25 ₱ 11,200

REFOZAR, CAPITAL Bal. ₱ 20,800

Mar. 1 ₱ 42,500

Bal. ₱ 42,500
 REFOZAR, WITHDRAWAL LABORATORY EXPENSES
Mar. 28 ₱ 15,000 Mar. 9 ₱ 1,800

Bal. ₱ 15, 000 Bal. ₱ 1, 800

MEDICAL REVENUE
Mar. 7 ₱ 27,500 TELEPHONE EXPENSES
15 ₱ 51,700 Mar. 20 ₱ 850
26 ₱ 40,150
Bal. ₱ 850
Bal. ₱110,300

RENT EXPENSES MISCELLANEOUS EXPENSES

Mar. 3 ₱ 7,500 Mar. 21 ₱ 1,150

Bal. ₱ 7, 500 Bal. ₱ 1, 150

TRIA
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ACC Refozar Medical Practice
OUN Trial Balance
March 31, 2019
TIN
G ACCOUNT TITLE DEBIT CREDIT
Cash ₱ 16,450
Accounts receivable ₱ 64,350
Medical supplies ₱ 24,350
Medical equipment ₱ 95,000
Notes payable ₱ 80,000
Accounts payable ₱ 14,450
Refozar, Capital ₱ 42,500
Refozar, Withdrawals ₱ 15,000
Medical revenue ₱ 110,300
Salaries expenses ₱ 20,800
Rent expenses ₱ 7,500
Laboratory expenses ₱ 1,800
Telephone expenses ₱ 850
Miscellaneous expenses ₱ 1,150
₱ 247,250 ₱ 247,250
END
Reporters:
1. Almejane L. Macawile
2. Melvin Bernido Lumpayao
3. Andrea Jean Eugenio
Members:
4. Harris L. Lopez
5. Danica Joyce Galela
6. Irene Alfonso Francisco
7. Lyko Lumbos
8. Darympole Maghinay
9. Mark Geuvarra
10. Pinkey Limbaus
11. Trisha Jhoana Lagman
12. Jasmine Gaitano