Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you help me? We must provide journal entry in each transaction. Thank you! Assessment Directions: Prepare the journal entry for each transaction. Use the

image text in transcribed

Can you help me? We must provide journal entry in each transaction. Thank you!

Assessment Directions: Prepare the journal entry for each transaction. Use the following account numbers for posting reference. Write your answers on a separate sheet of paper. Assets Revenue 101 Cash 401 Service Revenue 102 Accounts Receivable Expenses 103 Supplies 501 Salaries Expense 104 Service Vehicle 502 Rent Expense Liability 503 Utilities Expense 201 Accounts Payable 504 Advertising Expense Owner's Equity 505 Miscellaneous Expense 301 Angelie, Capital 302 Angelie, Drawings Michelle Angelie established Angelie's Advertising Business. The following are the transactions for the whole month of October 2019. Oct. 1 2 3 9 10 11 12 Michele Angelie deposited P250,000 under the name of the business. She acquired a service vehicle in the amount of P195,000 on account. She acquired supplies for cash worth P57,000. She received P87,500 cash for painted signs. She paid the month's rent amounting to P25,000. She painted signs for Mundo Mobile on account for P170,000. She paid P55,000 on account from October 2. She withdrew P25,000 for personal use. She collected P35,000 from Mundo Mobile. She paid salaries amounting to P57,000 for the month. She paid PH Telecom P7,500 for communication services for the month. She paid the bill amounting to P5,500 to AdLamao for advertising for the month. 16 23 27 30 31

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audits Of 401k Plans

Authors: Deloitte And Touche

2nd Edition

1119722039, 978-1119722038

More Books

Students also viewed these Accounting questions