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Account titles: Cash; Accounts Receivable; Office Supplies; Machinery; Building; Accounts Payable; Loans Payable; Bumble Bee, Capital; Bumble Bee, Drawings; Consultancy Revenue; Salaries Expense; Utilities Expense;
Account titles: Cash; Accounts Receivable; Office Supplies; Machinery; Building; Accounts Payable; Loans Payable; Bumble Bee, Capital; Bumble Bee, Drawings; Consultancy Revenue; Salaries Expense; Utilities Expense; Gas and Oil Expense; and Rent Expense. Bumble Bee owned a business named Transformer Enterprises which was primarily engaged in providing management consultancy services and below is the summary of transactions that occurred for a month: Feb-19 1 Invested cash of P50,000 and building worth P100,000 to the business. 1 Invested machinery amounting to P60,000. 2 Purchased office supplies worth P10,000, P3,500 of which was paid in cash and the balance payable in one wee 3 Purchased additional machinery, P5,000, paid in cash. 4 Hired two helpers for the business with monthly salary of P10,000 each. 4 Performed services to a client for P15,000 received in cash. 5 Completed providing services to Mack Cormik Company amounting to P10,000. Only P4,500 was received in ca 9 Purchased additional office supplies on account worth P2,100. 10 Rendered services to Pikweek Enterprise on credit, P5,000. 13 Applied for a loan to a May Bank and was granted amounting to P25,000. 15 Performed services to Junell Parlor amounting to P100,000, received in cash. 18 Withdrew P15,000 from the business for personal use. 20 Paid gasoline expenses worth P1,400 and water bill worth P600. 23 Made partial payment for the loan availed, P15,000. 25 Collected cash from Mack Cormik Company, P5,500. 28 Paid salaries of two helpers, P20,000. Requirements: a. Journal entries b. T-accounts c. Unadjusted trial balance
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