Mr. Miralles established a printing business to be known as Miralles Printing on June 2,
2015. Identify the account titles involved in each transaction during the first month. Below
is the list of account titles you may choose from.
-Cash
-Services Revenue
-Accounts Receivable
-Advertising Expense
-Notes Receivable
-Rent Expense
-Office Supplies
-Salary Expense
-Furniture and Fixtures
-Utilities Expense
-Accounts Payable
-Repairs and Maintenance Expense
-Mr. Miralles, Capital
Sample question: On June 2, 2015, Mr. Miralles transferred cash of ₱250,000 from his
personal account to an account to be used for his business.
Sample Answer: Cash and Mr. Miralles, Capital
________________ 1. June 3: Paid photo editing application for ₱2,000.
________________ 2. June 4: Purchased misc. office supplies for ₱4,600.00
________________ 3. June 6: Purchased tables and chairs from Myles Co. worth ₱25,000
on account.
________________ 4. June 7: Received cash for ₱45,000 as commission from the
customer.
________________ 5. June 9: Received statement of account from Doodle printers for
advertising materials used for ₱5, 500.
________________ 6. June 11: Paid the salary of office staff, ₱15,800.
________________ 7. June 16: Sent a bill to Ms. Denoso for the services rendered,
₱13,000.
________________ 8. June 20: Received a check from Ms. Denoso for the partial
payment of her account for ₱8,500
________________ 9. June 24: Paid water, electricity and telecommunication expenses
worth ₱3,000, ₱7,000, and ₱6,000, respectively.
________________ 10. June 28: Ms. Denoso issued a 15-day note of her balance, ₱5,000.
