Activity 1:
EXAMPLE:
1. June 1, 2018 – Mr. A invested P 200,000 cash in his newly opened Alpha Laundry System business.
GENERAL JOURNAL PAGE 1
DATE
P A R T I C U L A R S
POST.
REF. DEBIT CREDIT
1June 1 Cash 200,000.00
2 Mr. A Capital 200,000.00
3To record the initial capital
investment of Mr. A.
YOUR JOURNAL ENTRY to the following business transactions:
2. On June 5, 2018 – Alpha Laundry Systems purchased laundry equipment for cash, P150,000.00
GENERAL JOURNAL PAGE 1
DATE
P A R T I C U L A R S
POST.
REF. DEBIT CREDIT
4 June 5
5
6To record the acquisition of Laundry equipment
3. On June 6, 2018 – Alpha Laundry Systems paid cash in advance for the 1 year insurance coverage of laundry equipment for the
whole year amounting to P6,000. Monthly insurance expense will be recognized for each month end report.
GENERAL JOURNAL PAGE 1
DATE
P A R T I C U L A R S
POST.
REF. DEBIT CREDIT
7 June 6
8
9To record the prepaid Insurance of Laundry
equipment
4. On June 7, 2018 – Alpha Laundry Systems bought supplies for laundry amounting to P10,000. The supplies bought
are laundry consumables such detergent powder, soap bar and fabric softener. Monthly inventory will be
conducted to determine unused supplies and will be recognized for each month end report.
GENERAL JOURNAL PAGE 1
DATE
P A R T I C U L A R S
POST.
REF. DEBIT CREDIT
10 June 7
11
12 To record the acquisition of laundry
consumables
6. On June 15, 2018 – Alpha Laundry Systems paid P4,750 cash for salary of laundry operator.
GENERAL JOURNAL PAGE 1
DATE
P A R T I C U L A R S
POST.
REF. DEBIT CREDIT
13 June 15
14
15 To record the laundry operator’s salary
7. On June 16, 2018 – Alpha Laundry Systems received P25,000 cash for laundry services rendered to MZ. Hotel.
Your Journal Entry:
