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Professor Quezon opens his own company, Electronic Tutorial Services, and completes the following transactions in June: 6/1 Quezon invests PhP120,000 into the business. 6/3 Purchased
Professor Quezon opens his own company, Electronic Tutorial Services, and completes the following transactions in June: 6/1 Quezon invests PhP120,000 into the business. 6/3 Purchased PhP18,000 of equipment on account. 6/4 Paid PhP36,000 premium for a two-year insurance policy. 6/6 Purchased office supplies for cash, PhP3,000. 6/9 Purchased a new computer for PhP75,000. Paid PhP15,000 cash agreed to pay the remainder in 30 days. 6/10 Billed student Fe PhP4,000 for tutorial services that were performed. 6/14 Paid for the equipment purchased on June 3rd. 6/25 Received PhP3,500 cash from student Robert for tutorial services performed. 6/30 Student billed on June 10 pays the amount due to Quezon. 6/30 Quezon withdraws PhP5,000 for personal use. All answers should be stated in this format (PhP00,000) Required: Determine the ending balances of the following after considering the transactions above
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