# data[].attributes.body
https://docs.google.com/document/d/12hG4qmK91xIJRlcQTyl5MeeU9pEve5oCghNMM3tIc4s/edit?usp=drivesdk

# data[].attributes.body
Journaling Service Concern Transactions
Ms. Florita Acero is engaged in a Rent-A-Car business to cater tourists who are visiting Tagbiliran City Her investment consisted of the following:

2 unit Toyota Van- P2,000,000
Cash which he deposited with RCBC, P150,000

CHART OF ACCOUNTS

ASSETS
Cash in Bank
Account Receivable
Tires and Tubes Inventory
Prepaid Insurance
Transportation Equipment

LIABILITIES
Account Payable
Unearned Rental Revenue

OWNER'S EQUITY
F.ACERO, CAPITAL
F.ACERO,DRAWING

INCOME
Rental Revenue

EXPENSES
Gasoline and Oil
Taxes and Linceses
Commission Expense
Repairs and Maintenance

May 1
Bought Gasoline and oil for the 2 units Toyota Van for cash,P3,500.
Dr: Gasoline/Oil
Cr: Cash(3,500)

May 2
Rendered transportation service to various tourists who roamed around the city watch the Sandugo Festival, P20,000.
Dr: Cash in Bank (20,000)
Cr: Rental Revenue

May 3
Paid business permits and license including that of the Land Transportation Office, P35,000.
Dr: Taxes and Licenses
Cr: Cash in Bank (35,000)

May 4
Received Cash of P6,000 from Cebu Tourist Group but services has yet to be rendered.
Dr: Received Cash (6,000)
Cr: Unearned Rental Revenue

May 7
Rental Revenue for the week tourists for visiting Pangloa Beach Resort Loboc River and Chocolate Hills, P12,000.
Dr: Cash (12,000)
Cr: Rental Revenue

May 8
Received a bill from Petron Service Center for gasoline withdrawn on account, P15,000
Dr: Gasoline/Oil.
Cr: Account Payable (15,000)

May 9
Paid in advance car insurance ( on damage and third party liability ). P45,000.
Dr: Prepaid Insurance (45,000)
Cr: Cash

May 10
Bought spare tires on account from Tagbiliran Dura-Trac, P8,500.
Dr: Tires and Tubes Inventory
Cr: Cash ( 8,500 )

May 12
Service Cebu Tourist Group which already have paid in advance the amount on P6,000 , (refer to Aug 4 transaction).
Dr: Unearned Rental Revenue
Cr: Rental Revenue

May 14
Rental revenue for the week:
- Cash, P25,000
- On account, P10,000

Dr: Account
Cr: Cash in Bank ( 25,000)

May 15
Paid drivers' commission for the week, P7,000.
Dr: Commission Expense
Cr: Cash in Bank

May 16
Check-up of Toyota Van and repair of side mirror, P3,500.
Dr: Transportation Equipment
Cr: Cash in Bank ( 3,500)

May 17
Received a bill from Petron Service Center for gasoline withdrawn on account, P17,500.
Dr: Repairs and Maintenance
Cr: Account Payable

May 22
Received Cash of P15,000 from Cebu Lions Club for services that has not yet rendered.
Rental Revenue for the week :
- Cash, P17,000
- On account, P15,000

Dr: Cash ( 15,00 )
Cr: Rental Revenue

May 23
Collected the customer's account of May 14, P10,000.
Dr: Account Receivable
Cr: Cash ( 10,000 )

May 24
Partial Payment of account with Petron Service Center, P12,000.
Dr: Account Payable
Cr: Partial Payment/Cash ( 12,000 )

May 25
Paid the account of May 10 within Tagbiliran Dura-Trac in the amount, P8,500.
Dr: Account Payable
Cr: Cash In Bank ( 8,500 )

May 26
Received P2,800 as payment for a special trip to Baclayon Church.
- Paid gasoline and oil for cash, P1,000.
May 26 two transactions

1. Dr: Cash ( 2800 )
Cr: Rental Revenue
2. Cr: Cash ( 1,000 )
Dr: Gas and Oil

May 27
Refunded the amount of P15,000 to Cebu Lions Club re-May 22 transaction Trip Cancelled.
Dr: Account Payable
Cr: Cash ( 15,000 )

May 28
Rental Revenue for the week, P27,000 broken down as follows :
- Cash, P20,000
- On Account, P7,00
Dr: Cash 20k, Account Receivable ( 7,000 )
Cr: Rental Revenue ( 27,000 )

May 30
Bought gasoline on account from Caltex Philippines, P1,000.
Dr: Gas ( 1,000 )
Cr: Account Payable ( 1,000 )

May 31
Paid the amount with Caltex Philippines, P1,000.
- Collected in the full the customers' account May 22 - P15,000 and May 28 - P7,000.
- Received cash of P3,000 from Cebu Employees Union for services that has to be rendered yet.
-Minor Repair of Toyota Van, P2,500.

May 31
1. Dr Account Payable ( 1,000 ) Cr: Cash
2. Cash ( 15,000 ) Cr: Account Receivable ( 15,000 )
Dr: Cash ( 7,000 ) Account  Receivable ( 7,000 )

Dr: Cash ( 3,000 )
Cr: Rental Revenue ( 3,000 )
Dr: Repairs and Maintenance ( 2,500
Cr: Cash ( 2500 )

# data[].attributes.body
Mr. John Santos started a T-shirt business to be known as "John T-shirts".He performed following transactions during the first month of operations:

1.Mr. John invested a capital of 15,000 pesos into his business.
Capital(15,000)
Cash in Bank(15,000)

A          =         L           +          OE
cash                                      capital
15,000                                  15,000

2.Acquired a building for 5,000 cash for business use.
Acquired a building(5,000)
Cash in Bank (5,000)

A          =         L           +        OE
cash
5,000
building (+)
5,000

3.Bought furniture for 1,500 cash for business use.
Furniture(1,500)
Cash In Bank(1,500)

A          =         L           +        OE
cash
1,500
furniture
1,500

4.Purchased T-shirts from a manufacturer for 3,000 cash.
Purchased T-shirts (3,000)
Account Payable (3,000)

A          =         L           +        OE
cash
3,000
inventory
3,000

Supplies(+)

5.Sold T-shirts for 1,000 cash, the cost of those T-shirts were 700.
Cost of Sales(700)
Cash(1,000)
Owner's Equity (300)

A          =         L           +        OE
cash                                      300
1,000

6.Purchased T-shirts for 2,000 on Credit.
Purchased T-shirts(2,000)
Account Payable(2,000)

A             =               L                      +             OE
Inventory          account payable
2,000                     2,000

7.Sold T-shirts for $800 on credit, the cost of those T-shirts were $550
Cost of Sales(500)
a/r(800)
sales revenue (250)

A             =               L                      +             OE
a/r                                                          sales revenue
800                                                             250

8.Paid 1,000 cash to his payables.
Account Payable (1,000)
Cash In Bank(1,000)

A             =               L                      +             OE
cash                   account payable
1,000                      1,000

9.Collected 800 cash from his receivables.
Account Receivable (800)
Cash in Bank (800)

A             =               L                      +             OE
cash
800
account receivable
800

10.The shirts costing 100 were stolen by someone
capital (100)
inventory (100)

A             =               L                      +             OE
inventory                                                      capital
100                                                                 100

11.Mr.John paid 150 cash for telephone bill.
Utilities Expense (150)
Cash in Bank(150)

A             =               L                      +             OE
cash                                                      utilities expense
150                                                                 150

12.Borrowed Money omounting to 5,000 from City Bank for business purposes.
Bank Loan(5,000)
Cash in Bank(5,000)

A             =                  L                        +             OE
cash                     bank loan
5,000                      5,000

# data[].attributes.headline
Lesson 3(Exercises) Internal Or External

# data[].attributes.subject
Lesson 3(Exercises) Internal Or External