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please answer all the questions and make it on table 8. Sue Feria opened a travel agency business on April 5, 2015. A month after
please answer all the questions and make it on table
8. Sue Feria opened a travel agency business on April 5, 2015. A month after she was able to comply with the legal requirements and documents, the business started operation. The following balances were taken on April 30, 2015: Cash Accounts Receivable Supplies Furniture Equipment 24- Account month due to Note Ros Due to BDO Feria, Capital Explanation for changes 61,000 14,500 50,500 25,000 +100,000 15,000 50,000 -8.000 - 6,000 Investment Taxes and Licenses Registration Expenses 8 The following transactions took place during the month of May: 2 Received P45,000 from the office of Pagcor for the processing of their documents with the Department of Foreign Affairs. Use the revenue title - Processing Fees 2 Received from various airline companies commission for ticket purchased for clients, P28,000. Use the revenue title - Commission Income. 5 Paid P10,000 to BDO Paid for supplies bought, P7,250 10 Received P8,000 commission from airline companies for tickets purchased for clients 11 Bought a photocopying machine for P15,000 by paying 50% in cash, the balance on account 14 Collected service fees of P5,000 from clients for processing of visa and passport 15 Paid cash for salaries, P15,000 18 Billed Moyses Company P12,000 for processing of visa and passport of their offices 20 Mr. and Mrs. Smith paid P1,000 for the processing of their papers 24 Paid P5,000 of the account due to Ros 25 Moyses Company paid 50% of their account 27 Billed PAL P3,500 for commissions accruing on tickets purchased 28 Bills were received from the following: PLDT, P3,500 and Meralco, P5,500 29 Receipts from various clients for services rendered: from tourist and immigrants, P4,500 and airline companies, P7,500 30 Paid cash P7,500 for rent and P15,000 for salaries 31 Supplies used up, P3,500 Analyze the above transactions, start with the balances given on April 30. a. Present an income statement, statement of changes in owner's equity, a properly classified report form of statement of financial position 6. Using the cash column, prepare a working paper of cash flowsStep by Step Solution
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