SJI10 - TLE Income and Expense Accounts

Sarah’s Bakery received P5,000 for catering services provided to a wedding event.

• Service Income

• Other Income

• Salaries Expense

• Rent Expense

John’s Auto Repair spent P1,200 on replacement parts for vehicles he services.

• Utilities Expense

• Supplies Expense

• Repair Expense

• Depreciation Expense

The local gym paid P15,000 for its monthly rent on the building.

• Rent Expense

• Salaries Expense

• Utilities Expense

• Maintenance Expense

An online store sold P8,500 worth of merchandise and received the full payment immediately.

• Sales Revenue

• Service Income

• Other Income

• Expense

Lisa’s Fitness Studio paid P500 for electricity used during the month.

• Office Supplies Expense

• Utilities Expense

• Depreciation Expense

• Gas and Oil Expense

Mark’s Law Firm earned P25,000 in fees for legal services rendered during the month.

• Service Income

• Interest Income

• Rent Income

• Sales Revenue

The coffee shop received a P300 rebate from its supplier for overpayment on an order.

• Other Income

• Discounts Received

• Service Income

• Miscellaneous Revenue

Rachel’s Boutique paid P3,000 in commissions to sales staff based on sales performance.

• Salaries Expense

• Commission Expense

• Rent Expense

• Office Supplies Expense

Tom’s Landscaping Service bought new equipment for P10,000, which will be used for future jobs.

• Asset Purchase

• Depreciation Expense

• Equipment Expense

• Supplies Expense

The city library received P150 in fines for overdue books.

• Other Income

• Service Income

• Fees Income

• Membership Income