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    3c - Chapter 4

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    Lady Mae Dioquino
    Joanne Java Review School recorded various transactions in October including: 1) An additional investment of P50,000 by Java. 2) Payment of P14,500 for liability insurance. 3) Receipt of bills for advertising, equipment repairs, rent, and other expenses. 4) Receipt of tuition payments and deposits totaling P124,400. 5) Payment of bills, salaries, rent, and other expenses totaling P47,600. 6) Purchase of furniture and a photocopier on account.

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    3c - Chapter 4

    Uploaded by

    Lady Mae Dioquino
    3K views1 page
    Joanne Java Review School recorded various transactions in October including: 1) An additional investment of P50,000 by Java. 2) Payment of P14,500 for liability insurance. 3) Receipt of bills for advertising, equipment repairs, rent, and other expenses. 4) Receipt of tuition payments and deposits totaling P124,400. 5) Payment of bills, salaries, rent, and other expenses totaling P47,600. 6) Purchase of furniture and a photocopier on account.

    Original Description:

    Exercise 4

    Original Title

    3c -Chapter 4

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    Joanne Java Review School recorded various transactions in October including: 1) An additional investment of P50,000 by Java. 2) Payment of P14,500 for liability insurance. 3) Receipt of bills for advertising, equipment repairs, rent, and other expenses. 4) Receipt of tuition payments and deposits totaling P124,400. 5) Payment of bills, salaries, rent, and other expenses totaling P47,600. 6) Purchase of furniture and a photocopier on account.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    3K views1 page

    3c - Chapter 4

    Uploaded by

    Lady Mae Dioquino
    Joanne Java Review School recorded various transactions in October including: 1) An additional investment of P50,000 by Java. 2) Payment of P14,500 for liability insurance. 3) Receipt of bills for advertising, equipment repairs, rent, and other expenses. 4) Receipt of tuition payments and deposits totaling P124,400. 5) Payment of bills, salaries, rent, and other expenses totaling P47,600. 6) Purchase of furniture and a photocopier on account.

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    of 1

    Chapter 4 - Problem#14

    Journalizing Transactions

    Joanne Java Review School entered into the following transaction during October 215:

    Oct 1. Java made additional invesment of P50,000 in the business.


    2.Bought liability insurance for one year ,P14,5000.
    3.Received a bill for advertising from SouthMin News, P3,200.
    4.Paid rent for the month,P8,900.
    7.Received a bill for equipment repair from E.Hipolito,P2,880.
    10.Received and deposited tuition from students,P62,500.
    11.Received and paid the telephone bill,P2,300
    15.Bought chairs from E.Awayan Furniture ,P18,800,paying P8,800 in cash and the balance on
    account.
    18.Paid accounts to SouthMin News,P3,200.
    21.Java withdrew P8,000 for personal use.
    24.Received a bill for gas and oil from Mindanao Oil Corp.,P1,800.
    25.Received and deposited tuition from student,P61,400.
    27. Paid salaries of the office assistants,P12,000.
    28.Bought a photocopier on account from Dadiangas Office Machines, P7,500.
    29.Received P7,000 tuition from a student who had charged the tuition on account last month.
    30.Received and paid the water utilities bill,P3,600.
    31.Java invested personal computer,with a fair market value of P12,300, in the business

    Requierd :

    Prepare the journal entries for the October transaction, T- Accounts, Trial Balance, Income Statement,
    Statement of Owner’s Equity and Statement of Financial Position. Use the following accounts:
    cash;Accounts Receivable;Prepaid Insurance;Equipment;furniture;Accounts Payable;Java,Capital; Java
    Withdrawals;School fees ;Salaries Expense;Rent Expense;Gas and Oil Expense;Advirtising Expense;Repair
    Expense;Supplies Expense;Utilities Expense;telecommunications Expense and Miscellaneous Expense

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