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4AC0 01 Accounting

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Multiple Choice Questions

Tall Erp 9 Notes and Practice

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Mr.EdgarEsparaguera Mr.Edgar Mr.EdgarEsparagueraisaprofessionalaccou Esparagueraisa isaprofessional professionalaccou accountant.H ntant.Heventured ntant.H eventuredina inamilling millingbusiness businesstoserve toservethenee thenee  theruralareasofDipologCity.Withagivenchartofaccounts,recordinatwo-columnGeneralJournal forthefirstmonthofo forthefirst monthofoperationonA perationonApril2014. pril2014. DipologRiceMill ChartofAccounts Page Page Ac Page Acco Accou count nt nt No.

Particulars Particulars

Page Page Ac Page Acco Accoun count unt t No.

No.

P Particul articul

No. Owner'sE

Assets 1 1

101 Ca ashin shinBank Bank

1 10 0

301 E.Esparaguera, E.Esparaguera,

2 2

102 PettyCash ttyCashFund Fund

1 11 1

302 E.Esparaguera, E.Esparaguera,

3 3

103 10 103 3 Ac Acco AccountsReceivable cou unts ntsReceivable

4 4

104 10 104 Ad Adv Advance an ances cesto stoEmployees Employees

5 5

105 10 105 5 D DiesolineInventory ies iesolin oline eInventory

1 12 2

6 6

106 SatakeRice takeRiceMill Mill

1 13 3

7 7

10 1 107 07 7 Furn Fu Furnit rnitur iture urean eand andFixtures dFixtures

Incom 401 01 01 MillingIncome Mi Millli lin ngIncome 401 40 401-A -A -A Othe Ot OtherIncome her rIncome Expen

Liabilities

1 14 4

501 01 01 Salariesand Sa Sallar ariies esandW W

8 8

201 20 201 1 Ac Acco AccountsPayable cou unts ntsPayable

1 15 5

502 Taxesand TaxesandLice Lice

9 9

202 20 202 2 Un Une UnearnedMilling arn arned edMillingIncome Income

1 16 6

503 03 03 Repairsand Re Rep pai airs rsandM M

1 17 7

504 Lightand LightandWate Wate

TransactionsfortheMonth: A April pril

1 -- Mr.Edgar Mr. Mr.EdgarEsparaguera Esparaguerainvests investscash cashof ofP100,000. P100,000.He Hedeposited depositedthe theP99,000 P99,000in inLand LandBa Ba P1,000aspettycashfundtopayforsmallexpenses.HealsoinvestsaSatakeRiceMill instal installat lation ion cost cost worth worth P950,0 P950,000 00 and and Fur Furnit niture ure am amoun ountin ting g to P80 P80,00 ,000 0 for for a tot total al P1,130,000. 3 3 -- Purchaseddiesoline Purch Purchase ased ddiesolineworth worthP15,000 P15,000account accountfrom fromCaltex CaltexPhilippines. Philippines. 5 5 -- Paidlicenses Paid Paidlicensesand andbusiness businesspermits permitsto tothe thecitygover citygovernment, nment,P2,800. P2,800. 7 7 -- Salaryadvance Sa Sala lary ryadvanceofa ofane nemployee mployeedeductible deductiblefromp frompayroll, ayroll,P3,000. P3,000. 8 8 -- Paidminor Paid Paidminorrepairs,P repairs,P500.This 500.Thiswas wastaken takenfromthe fromthePetty PettyCash CashFund. Fund.

Master your semester with Scribd 14 -- Receivedcash 14 Receiv Rec eived edcashfor formilling millingservices, services,P9,000. P9,000. Read Free Foron 30this Days Sign up to vote title 18 -- WithdrewP8,000 18 Withdr Withdrew ewP8,000cash cashfor forpersonal personaluse. use. & The New YorkedTimes  Useful  Not useful 20 -- Renderedmillingserv 20 Render Rendered millingservices icesto toZamboanga ZamboangaTraders Traderson onaccount, account,P18,000. P18,000. Cancel anytime.

Special offer for students: Only $4.99/month. 23 -- Paid 23 Paidin Paidinfull fullthe theaccount accountwith withCaltex CaltexPhilippines, Philippines,P15,000. P15,000.

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Multiple Choice Questions

Tall Erp 9 Notes and Practice

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DipologRiceMill



JournalEntry

Sheet Music

20A April

Particulars 1

Folio

Debit

CashinBank

JV-1

99,000

PettyCashFund

JV-2

1,000

SatakeRiceMill

JV-6

950,000

FurnitureandFixtures E.Esparaguera,Capital

JV-7 JV-10

80,000

JV-5

15,000

Credit

1,130,00

InvestmentofE.Esparaguera. 3

DiesolineInventory AccountsPayable

JV-8

15,00

PurchasedonAccount. 5

TaxesandLicenses

JV-15

CashinBank

JV-1

2,800 2,80

PaidTaxesandLicensestothe CityGovernment. 7

AdvancestoEmployees

JV-4

CashinBank

3,000

JV-1

3,00

CashAdvanceforEmployees.

Read ing a Preview  You're Reading 8

RepairsandMaintenance

JV-16

500

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PettyCashFund

JV-2

50

PaidMinorRepairsfrom Download With Free Trial PettyCashFund. 14 CashinBank

JV-1

MillingIncome

9,000

JV-12

9,00

ReceivedCashforMillingServices. 18 E.Esparwith aguera,DScribd rawing Master your semester CashinBank & The New York TimesWithdrawalofE.Esparaguera Special offer for students: Only $4.99/month. forPersonalUse.

JV-11 8,000 Read Free Foron 30this Days SignJV up title -to 1 vote

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28 CashinBank



J o in

JV-1

UnearnedMilling Income

7,000

JV-9

7,00

ReceivedCashlaststillnoservices hasbeenrendered. 29 LightandWater

JV-17

CashinBank

8,000

JV-1

8,00

PaidtheLightandWater. 30 SalariesandWages

JV-14

15,000

AdvancestoEmployees

JV-4

3,00

CashinBank

JV-1

12,00

PaidthePayrolllessthecash advance. AccountsReceivable

JV-3

MillingIncome

25,000

JV-12

25,00

Billedcustomerformillingservices rendered.

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DipologRiceMill

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GeneralLedger

Sheet Music

ASSETS 

CASHINBANK 20A Particular April 1 Investment

F JE-1

Debit P99,000

14 ReceivedCash

JE-1

P9,000

27 PartialCollection

JE-2

P10,000

18 Withdrawal

JE- 

28 ReceivedCash

JE-2

P7,000

23 Paidaccountinfull

JE- 

29 LightandWater

JE- 

30 CashAdvance

JE- 

P76,200

20A Particular April 5 TaxesandLicenses 7 AdvancestoEmployees

F JE-  JE- 

P125,000 

PETTYCASHFUND 20A April

Particular 1 Investment

F JE-1

P500

Debit P 1,000

20A April

Particular

F

8 PaidMinorRepairs

JE- 

P1,000 

20A

Particular

April 2 0 RenderedServices 30 MillingServices

F

ACCOUNTRECEIVABLE Read ing a Preview  You're Reading Debit 20A

JE-1

P18,000

JE-2

P25,000 Download With Free Trial P43,000

P33,000

Particular

F

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April 29 LightandWater

JE- 



ADVANCESTOEMPLOYEES 20A April

Particular 7 CashAdvance

F JE-1

Debit P3,000 P3,000

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20A

Particular

F

April 30 Payroll

JE- 

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DIESOLINEINVENTORY 

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FURNITUREANDFIXTURES 20A

April

Particular

1 Investment

F

JE-1

Debit

20A

Particular

F

P80,000 P80,000

LIABILITIES 

ACCOUNTSPAYABLE 20A

Particular

April 23 PaidAccountinFull

F

JE-2

Debit

P15,000

20A

April

Particular

F

3 PurchasedonAccount

JE- 

P15,000 

UNEARNEDMILLINGINCOME 20A

Particular

F

Debit

20A

Particular

April 28 ReceivedCash

F

JE- 

OWNER'SEQUITY A

E.ESPARAGUERA,CAPITAL 20A

Particular

F

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Particular

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F

JE-1

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E.ESPARAGUERA,DRAWING 20A

April

Particular

18 Withdrawal

F

JE-2

Debit

20A

Particular

F

P8,000 P8,000

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EXPENSES

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A

SALARIESANDWAGES 20A

April

Particular

F

30 PaidPayrolltoEmployees

JE-1

Debit

20A

Particular

P15,000 P15,000 A

TAXESANDLICENSES 20A

April

Particular

F

5 TaxesandLicenses

JE-1

Debit

20A

Particular

P2,800 P2,800 A

REPAIRSANDMAINTENANCE 20A

April

Particular

F

8 PaidMinorRepairs

JE-1

Debit

20A

Particular

P500 P500

A

LIGHTANDWATER 20A

April

Particular

29 LightandWater

F

Debit

20A

Particular

JE-2 P8,000  You're Reading Read ing a Preview

P8,000

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Accounting Project  Acctg1c - Accounting 

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P r i nt

4AC0 01 Accounting

Multiple Choice Questions

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of 7

 





DipologRiceMill



TrialBalance

Sheet Music

April20A

AccountTitles

Folio

Debit Balance

Credit Balance

CashinBank

1

76,200

PettyCashFund

2

500

AccountsReceivable

3

33,000

DiesolineInventory

5

15,000

SatakeRiceMill

6

950,000

FurnitureandFixtures

7

80,000

UnearnedMillingIncome

9

7,000

E.Esparaguera,Capital

10

1,130,000

E.Esparaguera,Drawing

11

MillingIncome

12

SalariesandWages

14

15,000

TaxesandLicenses

15

2,800

RepairsandMaintenance LightandWater

16 17

500 8,000 ___________

TOTAL

8,000 52,000

1,189,000

1,189,000

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