journalizing transactionmcp
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HOW TOPREPARE JOURNAL ENTRY
for SINGLEPROPRIETORSHI
PPrepared by: MARIA CECILIA P. PAGANA
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REPUBLIC OF THE PHILIPPINESDEPARTMENT OF EDUCATION
Region IV-A CALABARZON LUIS PALAD NATIONAL HIGH SCHOOL
City of Tayabas
BOOKKEEPING NC IIIUnit of Competency
JOURNALIZE TRANSACTIONS
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INTRODUCTION
This unit co e!s the "no#$e%&e'
s"i$$s (n% (ttitu%es in !eco!%in&
)usiness t!(ns(ctions in (n
(ccountin& *ou!n($+
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LEARNING OUTCOME
LO,+ PREPARE JOURNAL ENTR-
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O JECTI!ES
At the en% of the $esson' thet!(inees (!e e.pecte% to/
0+ Reco!% t!(ns(ctions in ( &ene!($ *ou!n($+
1+ An($y2e )usiness t!(ns(ctions
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E"#$p%e&'
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E"#$p%e&'0+ L(ptop #ith 3ic!osoft e.ce$
(pp$ic(tion soft#(!e
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MATERIALS
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MATERIALS1+ C($cu$(to!
,+ Pen
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MATERIALS,+ Jou!n($
Pa(e: )))))
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PROCEDURES IN
PREPARING JOURNALENTRY
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SAMPLE TRANSACTION *+
Ap!i$ 0' 14056 C(!$en opene% (!ep(i! shop #ith ( c(shin estment of P044'444+
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STEP +The date of the transaction is entered in the date column.
GENERAL JOURNAL J1Date Account Titles and Explanation Ref. Debit Credit
!1" Cas# $!!%!!! &r Rose% Capital $!!%!!!
'n(ested cas# in business.
April 1
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STEP ,
GENERAL JOURNAL J1Date Account Titles and Explanation Ref. Debit Credit!1"
Cas# $!!%!!!
&r. RoseCapital $!!%!!!
'n(ested cas# in business.
April 1
The debit account title is entered at the extremeleft margin of the Account Titles . The credit account title is indented on the next line .
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STEP -
GENERAL JOURNAL J1Date Account Titles and Explanation Ref. Debit Credit!1"
Cas# 1)!%!!!
&r Rose% Capital 1)!%!!!
'n(ested cas# in business.
April 1
The amounts for the debits are recorded in the Debitcolumn and the amounts for the credits are recorded inthe Credit column.
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STEP
GENERAL JOURNAL J1Date Account Titles and Explanation Ref. Debit Credit!1"
Cas# 1)!%!!!
&r Rose% Capital 1)!%!!!
'n(ested cas# in business.
April 1
A brief explanation of the transaction is given.
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ANALYSIS O/ TRANSACTION *+
INCREASED ASSET.INCREASEDCAPITALInc!e(se% in (sset is !eco!%e%
)y ( %e)it to c(sh+ Inc!e(se%
in c(pit($ is !eco!%e% )y c!e%it
to c(pit($+
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TAS0
Direction / Jou!n($i2e the fo$$o#in& T!(ns(ctions (n%m("e (n (n($ysis of the effect in the (ccountin&
e7u(tion+
Ap!i$ 16P(i% P184 fo! ne#sp(pe! (% e!tisin&(nnouncin& the openin& of he! shop+
Ap!i$ ,6 Pu!ch(se% office t()$es' (n% ( ch(i!s (n% fi$in&c()inets f!om C!u2 9u!nitu!e on c!e%it' P 5 444
Ap!i$ 86 Comp$ete% !ep(i! #o!" fo! R+ Gi$ on c!e%it'P0 144+