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prepare journalizing, posting and trial balance Journalizing, Posting, and Preparing a Trial Balance Winnie Villanueva is a painting contractor, and her business is registered as
prepare journalizing, posting and trial balance
Journalizing, Posting, and Preparing a Trial Balance Winnie Villanueva is a painting contractor, and her business is registered as Villanueva Painting Contractor. During the month of April, 2022, she completed the following transactions: Apr. 2 Invested in the business painting equipment valued at P12,300 and placed P71,000 in a business checking account. Apr. 3 Acquired service vehicle costing P80,000. Paid P50,000 cash and signed a note for the balance. (Hint: this is NOT an Accounts Payable) Apr. 4 Purchased painting supplies on account for P3,200. Apr. 5 Completed a painting job and billed the customer P4,800. Apr. 7 Received P1,500 cash for painting an apartment room. Apr. 10 Purchased painting supplies for P1,600 cash. Apr. 11 Received a P4,800 check from the customer billed on Apr. 5. Apr. 12 Paid P4,000 for an insurance policy for a one-year coverage. Apr. 13 Billed a customer P6,200 for a painting job. Apr. 14 Paid the assistant P1,500 for twenty-five hours' work. Apr. 15 Paid P400 for a tune-up of the service vehicle. Apr. 18 Paid for the painting supplies purchased on Apr. 4. Apr. 20 Purchased a new ladder for P6,000 and painting supplies for P2,900, on account. (Hint: Remember the nature of the business, it's painting contractor, therefore, make sure you account for the new ladder correctly.) Apr. 22 Received a telephone bill for P600, due next month. Apr. 23 Received P3,300 in cash from the customer billed on Apr. 13. Apr. 24 Transferred P3,000 to a personal checking account. Apr. 25 Received P3,600 in cash for painting a two-room apartment. Apr. 27 Paid P2,000 on the note signed for the service vehicle. Apr. 29 Paid the assistant P1,800 for thirty hours' work. The following accounts are used for accounting purposes: Cash; Accounts Receivable; Painting Supplies; Prepaid Insurance; Painting Equipment Service Vehicle; Notes Payable; Accounts Payable; Villanueva, Capital: Villanueva, Withdrawals; Painting Revenues; Wages Expense; Utilities Expense; and Maintenance Expense. Paared. Den the trial boton dorthildist choice to Step by Step Solution
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