Question
Journalize the following transactions. a.Receipt of P1,000,000 NCA. b.Remittance to the BIR P100,000 taxes withheld. c.Receipt of P1,000,000 allotment. d.Receipt of P1,200,000 appropriation. e.Entering into
Journalize the following transactions.
a.Receipt of P1,000,000 NCA.
b.Remittance to the BIR P100,000 taxes withheld.
c.Receipt of P1,000,000 allotment.
d.Receipt of P1,200,000 appropriation.
e.Entering into employment contracts worth P200,000.
f.Billing of P250,000 revenue for Affiliation Fees, subsequent collection of P200,000 therefrom, and full remittance of the collection to the Bureau of Treasury.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting
Authors: Carl Warren
14th Edition
1337516147, 978-1337270595
