Question
Major Final Output 2 Mr Santos opened a barbershop called Gupitan Shop on February 1, 20x3. The following were the transactions during the first week
Major Final Output 2
Mr Santos opened a barbershop called "Gupitan Shop" on February 1, 20x3. The following were the transactions during the first week of operations:
February
1 Provided P300,000 cash as an initial investment to the business.
2 Acquired furniture and fixture for P200,00 cash.
4 Purchased supplies for P30,000 cash.
5 Rendered services worth P20,000 on cash basis
7 Paid P10,000 salaries of employees
Requirements:
A. Prepare the chart of accounts - accounts that you will use
B. Provide the journal entries
C. Post the entries to the ledger (use T-accounts)
D. Prepare the unadjusted trial balance
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