ACTIVITY 5: LET'S PUT IT ALL TOGETHER! Now you're ready to accomplish the JOURNAL, LEDGER and TRIAL BALANCE of G. Pineda Accounting Firm. Recall the directions and mechanics on the first page for you to be guided. Gifern Pineda, a CPA put up an accounting firm on December 1, 2019. The following transactions were completed during the month: Dec. 1 1 1 1 2 3 4 8 301 302 10 15 15 18 20 31 31 31 31 G. Pineda invested P200,000 as initial capital for his accounting firm Paid office rent for the month P16,400 Bought office supplies for cash P15.500 Bought computer from Mabuhay Equipment Corp. P80,000, paying 50% down and the balance payable in 90 days Office tables and chairs were purchased for cash, P12,500. Received cash from a client for accounting services rendered P5,600. Paid Meralco, P4,000 Billed several clients for services rendered, P38,000 Borrowed money from Metrobank, P20,000 Received a 60-day note from a client for services rendered P12,000. Paid salaries of the employees, P16,500 Assets 101 102 103 Note Receivable 104 105 Note Payable Loan Payable Owner's Equity G. Pineda withdrew P10,000 cash for his personal use Bought filing cabinets from Leeman Trading P15,000, terms 30 days. Issued a promissory note to Cortez Trading P32,000 for a copying machine Bought. Paid municipal license, P3,000 Paid the salaries of the employees P14,250 Paid Leeman Trading Corp. partially P4,000 Partial collection of the accounts of clients P12,800 Chart of Accounts Cash Accounts Receivable Furniture and Fixtures Office Equipment Liabilities 201 Accounts Payable 202 203 G. Pineda, Capital G. Pineda, Drawing Income 401 Professional Fees Expenses 501 502 503 504 505 Rent Expense Office Supplies Expense Light and Water Expense Salaries Expense Taxes and Licenses Expense

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