Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with this :(( 1 2 ACCOUNTING CYCLE OF SERVICE BUSINESS Direction: 1. Journalize the transactions, 2. post it to Toccount, and 3

image text in transcribed

Please help me with this :((

1 2 ACCOUNTING CYCLE OF SERVICE BUSINESS Direction: 1. Journalize the transactions, 2. post it to Toccount, and 3 prepare Trial Balance (Unadjusted, Adjustment and Adjus and the 1. Financial Statement (Income statement, Statement of changes in owner's equity and Balance sheet) Pencil and erasure is not allowed, this will be an equivalent of zero. Write your answer in a clean yellow poper, or in WORKSHEET IF YOU WILL USE WORKSHEET, WRITE YOUR ANSWER AT THE BACK WAIT FOR FURTHER ANNOUNCEMENT ABOUT HOW WILL YOU SUBMIT YOUR ANSWER DEADLINE: APRIL 26, 2021 READ ME!!! THIS ACTIVITY WILL SERVE AS YOUR; 1. JOURNAL ENTRY - WRITTEN TASK 1 2. T-ACCOUNT - WRITTEN TASK 2 3. TRIAL BALANCE/S) - PERFORMANCE TASK 1 4. FINANCIAL STATEMENT - PERFORMANCE TASK 2 BUSINESS TRANSACTION 1. On January 1-SHA,SHA invested P100,000 in the business SHALON Service GI DATE PARTICULARS P.R. DEBIT CREDIT 2. On January 2-SHA, SHA paid business permit to legally operate the business, P10,000 GJI DATE PARTICULARS P.R. DEBIT CREDIT 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 S6 57 58 59 60 61 62 3. January 4- Bought chair to be used in accomodating customers, P15,000. GJI DATE PARTICULARS P.R. DEBIT CREDIT 4. January 6-Purchased cabinets for storage of tools like scissors for cash, P20,000 on account. GJI DATE PARTICULARS P.R. DEBIT CREDIT 5. January 10 Performed Services for P10,000 GJI DATE PARTICULARS P.R. DEBIT CREDIT 6. January 11. Paid the cabinet bought on jan 06 GI DATE PARTICULARS P.R. DEBIT CREDIT

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

Financial Accounting A Management Perspective

Authors: Nelson Macwan

1st Edition

6206142191, 978-6206142195

More Books

Students also viewed these Accounting questions