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Journal Entries Transactions


Submitted By graceiii
Words 884
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Nov 3 Ms. Galono and Mr. Kim started Sakura Day Care Center by investing P500, 000.00 cash each.
4 The owner paid registration and licensing fees for the business amounting to P20, 000.00.
5 The owner paid month’s rent, P30, 000.00 cash for lease of the center and office space. Check No.XXX
5 Acquired tables, chairs, shelves and other fixtures for center use for a total of PXXX. The entire amount was paid in cash. Invoice no. XXX
5 Purchased 3 computer sets, printer, and fax machine for office use amounting to Pxxx. The company paid a 50% down payment and the balance will be paid after 60 days. Invoice No. xxx 6 Purchased play equipments for use in the center costing PXXX. Invoice no. xxx. Terms: a down payment of P xxx, and the balance was evidenced by a note payable in installments at the end of the month for five months. 7 Paid cash for the charge on delivery of the equipment, Pxxx. Charged to Miscellaneous Expense. 10 Hired carpenters to build chairs, tables and cabinets for the center and for the company’s office. Total cash paid amounted to Pxxx. 12 Bought a slightly used car for use in the center as a school service bus, P350, 000.00. A 50% down payment was made for P 175, 000.00 with the balance due after 30 days. 13 Paid P5, 000 for newspaper advertisement for the opening of the center, on account. 14 Purchased office supplies on account amounting to Pxxx. Invoice No. XXX. 14 Paid P2, 400.00 for registration and license fee of the car to LTO. 17 Received P360, 000.00 tuition fees from various clients (12 students) 19 Paid P70, 000.00 as partial settlement of the account (play equip) 19 Paid P2, 000.00 (?) for newsletter subscription. 20 Purchase additional supplies for use in the center (chalks, books) amounting to P2, 500.00, paid in cash. 21 Ms. Galono put into the business P200, 000.00 as an additional investment. 21 Paid Pxxx to settle the amount owed for purchase of office supplies. (?) 22 Electricity bill and water bill received totaling Pxxx. Charged to Utilities expense. 22 Paid Cleaning services P3, 000.00 (?) for monthly window cleaning and garbage collection. Charged to Repair & Maintenance. Check No. xxx 22 Purchase fire & theft insurance from Federal Phoenix on account, Pxxx. Check No. xxx 24 Paid electricity and water bill. 24 Paid telephone expenses for the month, P2, 000(?) 24 Paid salaries to employees, P32,500. Deductions were madefor the following: SSS, P966.75; Philhealth, P343.75; Pag-ibig, P650 andwithholding taxes, P2,850. (change the amts arachii?) 25 Received P 240, 000 tuition fees from clients (8 students) 26 Remitted to Bureau of Internal Revenue (BIR) the tax withheld from employees’ salaries. 27 Remitted the amount due to SSS and Philhealth and Pag-ibig. 27 The company acquired a Pxxx short term bank loan, the entire amount plus a 10% interest is payable after 1 year. 28 Paid the first installment on the note. 28 Mr. Kim withdrew P 12, 000.00 cash for personal use.

Dec 1 Received P450, 000 tuition fees from clients (15 students) 2 Billed clients for services rendered, P30, 000.00 (school service) 4 Collected P22, 500.00 cash for services rendered. 5 Paid cash for month’s rent, P30, 000.00. Check No. xxx 8 Mr. Kim paid P 12, 000 cash owed to the company. 8 Received P390, 000.00 tuition fees from clients (13) 9 Purchase additional supplies (coloring books and materials) P1, 500.Invoice No. xxx 10 Purchased on account 2 TV sets for center use, Pxxx. Invoice No. xxx 11 Paid cash for mileage reimbursement, Pxxx. Charge to Automobile Expense. 12 Paid the balance due on November 12, P175, 000.00. 13 Paid (name of cleaning services) monthly window cleaning and garbage collection. Check No. xxx. Charge to Repair & Maintenance. 15 Collected P xxx cash for xmas party. Check No. XXX 16 Hired party eme for the xmas party. 16 Purchased supplies (decorating materials) on account, for the xmas party Pxxx. Invoice No. xxx 16 Paid P xxx cash for facility repair. Check No. xxx 17 Settled liability for the purchase of the TV sets. 18 Electricity bill received totaling Pxxx. 18 Water bill received totaling P xxx 19 Paid clowns and eme for party assistance. Check No. xxx 19 Paid food expenses to Jollibee for the xmas party, on account. Check No. xxx 22 Paid P1, 500 cash for monthly telephone bill. Check No. xxx 22 Paid salaries to employees, P32,500. Deductions were madefor the following: SSS, P966.75; Philhealth, P343.75; Pag-ibig, P650 andwithholding taxes, P2,850. 22 Paid P xxx cash to employees as Christmas Bonus. Check no. xxx 23 Paid cash for electricity and water bill, Pxxx. Check No. xxx 23 Settled liability to Jollibee Foods Corp. Invoice No. XXX 29 Remitted to Bureau of Internal Revenue (BIR) the tax withheld from employees’ salaries. 29 Remitted the amount due to SSS, Philhealth and Pag-ibig. 30 Paid cash for cleaning services for monthly cleaning and garbage collection, P xxx. Check No. XXX 30 Paid the second installment on the note. Check No. XXX

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