Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare journal entry and trial balance for the month of July 2019 July 4 has already been done by the profesor for basis PLEASE HELP

image text in transcribed

image text in transcribed

image text in transcribed

Prepare journal entry and trial balance for the month of July 2019

July 4 has already been done by the profesor for basis

image text in transcribed

PLEASE HELP ME ASAP

7 July 2019 Date Transaction 4 Sancho, Sevie, Sanna, Sheena, and Salve formed the partnership business 5 Cleaning Services by investing Php 50,000.00 each. With Salve also investing his L300 van as the business service vehicle, market value is Php 100,000.00 with a salvage value of Php 20,000.00 and EUL of 5 years Sancho, Sevie, Sanna and Salve are the ones who do the cleaning Sheena is the receptionist and manager of the business. Rented a commercial space for the business, Php 11,000.00 per month rate. Paid 3 months in advance. Purchased furniture and fixtures for the commercial space, Php 37,000.00. Purchased an electric fan, Php 2,100.00 Purchased cleaning equipment, Php 36,700.00 wherein Php 20,000.00 is on a note Purchased cleaning supplies, Php 26,000.00 Paid for the license to operate, Php 800.00 Paid for the printing and distribution of flyers, Php 2,000.00 Paid for printed of official receipt booldets, Php 1,400.00. Opened the business. Proceeded to do work to clean a business establishment and received payment thereas Php 8,000.00 Proceeded to clean a warehouse received payment, Php 16,000.00 Received a cleaning appointment to be done in the 11m of June in the Town Plaza, amount agreed upon for services is Php 22,000.00. 9 Received a call for a cleaning of a gym, received payment after the rendering of services, Php 7,200.00 Purchased a 12ft combination ladder, Php 3,000.00 Purchased additional cleaning supplies to be used for cleaning the town plaza on the 11%, Php 2,000.00. 10 Cleaned a house and got paid afterwards, Php 2,800.00 Fired 4 project based cleaners for tomorrow's cleaning of the town plaza, Php 1,000.00 each for tomorrow's work. Paid Php 2,156.00 for gas to full tank the van. 8 55 Cleaning Service Year Revised: 2020 Page 2 of 19 was agreed 11

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 Management for Public Health and Not for Profit Organizations

Authors: Steven A. Finkler, Thad Calabrese

4th edition

133060411, 132805669, 9780133060416, 978-0132805667

More Books

Students also viewed these Finance questions

Question

An automated system consists of what three basic elements.

Answered: 1 week ago