Question
On June 1, 2010 Christine Charity Resultay, Optometrist, established the Resultay Eye Clinic.Transactions completed during the month are as follows.a.. Resultary deposited P200,000 in a
On June 1, 2010 Christine Charity Resultay, Optometrist, established the Resultay Eye Clinic.Transactions completed during the month are as follows.a.. Resultary deposited P200,000 in a bank account in the name of the business.b.. Paid office rent for the month, P8,400.c.. Bought supplies for cash, P7,750.d.. Bought office equipment on account from Dagupan Equipment, P91,800.e.. Bought a computer from Del Rosario Office Outfitters, P18,400, paying P6,000 in cash and thebalance on account.f.. Performed professional services for cash, P24,210.g.. Paid accounts to Del Rosario Office Outfitters, P9,000.h.. Received and paid the bill for utilities, P2,430.i.. Paid salaries of the part-time assistants, P9,000.j.. Performed professional services for cash, P25,150.k.. Resultary withdrew cash for personal use, P12,500.Required:Record the transactions for the month of June 2010 using a financial transaction worksheet. Usethe following accounts: Cash; Accounts Receivable; Office Equipment; Accounts Payable; and Resultary, Capital. If the owner's equity account is affected by atransaction. Identify it as revenue,investment or withdrawal.
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