Extracted text: Activity 1: Journalize the following transactions and then post them to the General Ledger. Below are the transactions of Juan Manuell Enterprises for the month of May 2018. Maу 3 Mr. Manuell invested P500,000 cash. May 5 Purchases from Big Dipper Merchants P50,000 merchandise. Terms: 3/10, n/20. May 6 Sold merchandise to Gemini Enterprises, P32,000. Terms: 2/10, n/30. 59 63 / 164 Мay 9 Purchased office supplies from Galaxy Co. for cash, P3,000 through Check No. 0031. May 11 Gemini Enterprises settled its account in full. Issued OR#10241 Purchased merchandise from Polaris Trading, P55,000. Terms: P25,000 down payment, balance on account. Terms: 2/10, n/30. Check No. 0032. May 16 Purchased merchandise from Aurora Borealis Systems, P201,600. Terms: 2/10, n/30. May 25 May 26 Sold to Virgo Enterprises P150,000 worth of merchandise. Terms: 2/10, n/30. Мay 30 Purchases from Meteor Trading P80,000. Terms: 2/15, n/30. Procedures: 1. Analyze the given transactions. 2. Journalize each transaction in each specific special journal. 3. Post the transactions in the General Ledger. Guide Questions: 1. What is a General Ledger? 2. What is the format of the General Ledger? 3. How are the accounts in the general ledger arranged?
Extracted text: Activity 2 Utilizing the given problem from the previous activity, prepare a subsidiary ledger for the Accounts Receivable account. Procedures: 1. Identify which from the given transactions affects the accounts receivable account. 2. Prepare a subsidiary ledger for accounts receivable using the following format. 60 3. Reconcile the balance of the account with the balance that appear in the General Ledger. Guide Questions: 1. What is accounts receivable subsidiary ledger? 2. Can you illustrate the format of a subsidiary ledger for accounts receivable? 3. Which accounts have subsidiary ledgers aside from accounts receivable? Rubric for scoring Properly and correctly filled-out columns of the subsidiary ledger shall earn 2 points each. Incorrectly filled columns shall earn no point. Activity 3 64/164 Utilizing the given problem from the previous activity, prepare a subsidiary ledger for the Accounts Payable account. Procedures: 1. Identify which from the given transactions affects the accounts payable account. 2. Prepare a subsidiary ledger for accounts payable using the following format. SUBSIDIARY LEDGERS Supplier: Date Item Ref Debit Credit Balance 3. Reconcile the balance of the account with the balance that appear in the General Ledger. Guide Questions: 1. What is an accounts payable subsidiary ledger? 2. Can you illustrate the format of an accounts payable subsidiary ledger? 3. What do you think is the difference between the accounts receivable subsidiary ledger and accounts payable subsidiary ledger? Rubric for scoring Properly and correctly filled-out columns of the subsidiary ledger shall earn 2 points each. Incorrectly filled columns shall earn no point 61 Closure In this activity, I learned that