FABM1 MINOR PETA 3

It is the book original entry.

• Journal

• Ledger

• Trial Balance

• Financial Statements

It is the book of final entry.

• Journal

• Ledger

• Trial Balance

• Financial Statements

It states that there should always be at least two accounts affected in every transaction and for every debited account there should be a corresponding credited account.

• GAAP

• DOUBLE-ENTRY BOOKKEEPING SYSTEM

• ACCOUNTING PRINCIPLES

• PACIOLI'S RULE

It is the process of transferring journal entries to the ledger.

• recording

• journalizing

• ledgering

• posting

Analyze the transactions:

Rendered service for cash, P 5, 000.

Format of answer should be like this: dr: cash, cr: escodero, capital

Analyze the transactions:

Ms Ong withdrew cash for personal use, P 2, 000.

Format of answer should be like this: dr: cash, cr: escodero, capital

Analyze the transactions:

Paid employee's salary, P 10, 000.

Format of answer should be like this: dr: cash, cr: escodero, capital

Analyze the transactions:

Bought supplies to NBS on account, P 7, 200.

Format of answer should be like this: dr: cash, cr: escodero, capital

Analyze the transactions:

Rendered service to Ms C on account, P 120, 000.

Format of answer should be like this: dr: cash, cr: escodero, capital

Analyze the transactions:

Gisele Ong invested P 300, 000 in her business.

Format of answer should be like this: dr: cash, cr: escodero, capital