CEBU ROOSEVELT MEMORIAL COLLEGES, INC.
1st Semester, AY 2024-2025
Fundamentals of Accounting
On June 1, 2018, Dr. Editha Jares opened a small animal clinic. She invested ₱60,000 cash, ₱85,000
furniture and equipment, and clinic supplies valued at ₱15,300. The following are the transactions for
the month of June:
1 – Paid Haggai Realty ₱30,000, representing rent for June of ₱10,000 and rent deposit of ₱20,000.
Prepared cash voucher No. CV 001 to support this payment.
1 – Paid for the required permits and licenses to the Rizal City Hall, ₱1,850.
2 – Purchased clinic supplies from San Lazaro Medical Supplies, ₱4,150. Term: Cash.
4 – Purchased additional supplies from Victoria Medical Supplies, ₱2,560. Term: Cash.
5 – Purchased an examination table from Fernando Medical Equipment, ₱6,800. Term: on
account.
6 – Received cash for various professional services rendered, ₱4,450. Issued OR 0001 to 0008.
7 – Professional services rendered to the pets of Stella Querubin, ₱1,500; Kevin Canla, ₱2,200; and
Lillian Arribas, ₱1,200. Terms: on account. Prepared SI-4-0001 to 4-0003 to support these
transactions.
9 – Dr. Editha Jares withdrew ₱7,000 for her family’s use.
10 – Collected in full the account of Stella Querubin.
11 – Received cash for various professional services rendered, ₱5,200 (OR 0010 to 0015).
12 – Paid half of the amount due to Fernando Medical Equipment.
12 – Various professional services rendered for cash, ₱3,880 (OR 0016 to 0021
).
13 – Paid the utilities: MERALCO, ₱1,575; PLDT, ₱954.25; and Manila Waters, ₱488.75.
14 – Paid the salary of the receptionist-assistant. Gross pay, ₱5,000; deduction for withholding
taxes, ₱115 (CV 010).
15 – Various professional services rendered for cash, ₱2,910 (OR 0022 to 0028).
16 – Professional services rendered to the pets of Susan Cerbito, ₱1,250; Jess Lapuz, ₱2,150; Daniel
Rufino, ₱1,100, and Leah Rada, ₱1,650. Terms: on account. (SI-4-0004 to 4-0007).
17 – Collected in full the accounts of Kevin Canlas and Lillian Arribas (OR 0029 to 0030).
17 – Dr. Editha Jares withdrew ₱8,000 cash for her family’s use.
18 – Various professional services rendered for cash, ₱1,500 (OR 0031 to 0037).
19 – Bought equipment from Fernando Medical Equipment, ₱9,000. Issued a 10-day, 6% note for
the amount of the obligation.
20 – Professional services rendered to the pets of: Claire Justino, ₱800; and Celestina Cruz, ₱1,250.
Terms: on account.
21 – Collected in full the accounts of Daniel Rufino and Leah Rada (OR 0038 to 0039).
23 – Bought supplies from Medic Supplies Center, ₱2,630. Term: 2/10, n/30.
24 – Various professional services rendered for cash, ₱3,750 (OR 0040 to 0048).
25 – Dr. Editha Jares withdrew cash for her family’s use, ₱10,000.
26 – Dr. Editha Jares took home some supplies for the use of her family, ₱1,250.
27 – Paid for various expenses to various payees, ₱1,452.50.
27 – Paid in full the note payable to Fernando Medical Equipment. Interest of ₱15 was added to the
principal.
28 – Bought supplies from Medic Supplies Center, ₱4,150. Term: 2/10, n/30.
28 – Various professional services rendered for cash, ₱4,560 (OR 0049 to 0055).
29 – Collected in full the account of Claire Justino.
30 – Paid ₱1,200 for the annual membership fee to the Philippine Association of Veterinarians.
30 – Purchased medical supplies from National Medical Supplies, ₱4,850. Term: on account.
30 – Paid the salary of the receptionist-assistant. Gross pay, ₱5,000; deductions for withholding
taxes, ₱115 and SSS/PhilHealth premium, ₱185.75.
Requirement: Journalize the foregoing transactions of Furs and Claws Pet Clinic for the month of June.
