EASTERN MINDORO COLLEGE

BONGABONG, ORIENTAL MINDORO

Telefax: (043) 2835479 * e-mail: emc_1945@yahoo.com

Final Examination in Accountancy, Business and Management

On June 1, 2018, Dr. Editha Jares opened a small animal clinic. She invested P60,000 cash, P85,000
equipment, and clinic supplies valued at P15,300. The following are the transactions for the month of
June.
1 Paid Haggai Realty P30,000, representing rent for June of P10,000, and rent deposit of P20,000.
1 Paid for the required permits and licenses to the Rizal City Hall, P1,850.
2 Purchased clinic supplies from San Lazaro Medical Supplies, P4,150. Term: cash.
5 Purchased an examination table from Fernando Medical Equipment, P6,800. Term: on account.
6 Received cash for various professional services rendered, P4,450.
7 Professional services rendered to the pets of: Stella Querubin P1,500; Kevin Canlas, P2,200; and
Lilian Arribas, P1,200. Terms: on account.
9 Dr. Editha Jares withdrew P7,000 for her family’s use.
10 Collected in full the account of Stella Querubin.
11 Received cash for various professional services rendered, P5,200.
12 Paid half of the amount due to Fernando Medical equipment.
14 Paid the utilities: Meralco, P1,575; PLDT, P954.25; and Manila Waters, P488.75.
14 Paid the salary of the receptionist-assistant. Gross pay, P5,000; deduction for withholding taxes,
P115.
16 Professional services rendered to the pets of Susan Cerbito, P1,250; Jess Lapuz P2,150; Daniel
Rufino, P1,100; and Leah Rada, P1,650. Terms: on account.
17 Collected in full the account of Kevin Canlas and Lilian Arribas.
19 Bought equipment from Fernando Medical Equipment, P9,000. Issued a 10-day note for the amount
of the obligation.
21 Collected in full the account of Daniel Rufino and Leah Rada.
23 Bought supplies from Medic Supplies Center, P2,630. Term: 2/10, n/30.
24 Various professional services re nderd for cash P3,750.
27 Paid for miscellaneous expenses to various payees, P1,452.50
27 Paid in full the note payable to Fernando Medical Equipment. Interest of P15 was added to the
principal.
28 Bought supplies from Medic Supplies Center, P4,150. Term: 2/10, n/30.
28 Various professional services rendered for cash, P4,560.
30 Paid P1,200 for the annual membership fee to the Philippine Association of Veterinarians.
30 Paid the salary of the receptionist-assistant. Gross pay, P5,000; deductions for withholding taxes,
P115 and SSS/PhilHealth premium, P185.75.

Requirement:
1. Journal (25 points)
2. Ledger (25 points)
3. Trial Balance (30 points) not tally 0 points