Question
This is my final exam for basic accounting. what is the answer of this? Charinastarted her make up line business. The following transactions occurred during
This is my final exam for basic accounting.
what is the answer of this?
Charinastarted her make up line business. The following transactions occurred during the month of September.
a.Sept. 1 -Charinainvested Php120,000 cash in the business.
b.Sept. 2 - Acquired Php30,000 supplies inventory on account from LisetteMakulayCompany.
c.Sept. 3 - Incurred and paid 12,500 for marketing expenses to promote her products in cash.
d.Sept. 5 - Billed Stacey a customer for services provided amounting to Php 15,250.
e.Sept. 7 - Incurred the following bills from the following: Hipolito Electric Company (Light) Php 6,250,DongonWater Company (Water) Php 3,000 and Derek Telecommunication Company (Telephone) Php 1,820.
f.Sept. 10 - Collect cash from Stacey amounting to Php 15,250 billed last Sept. 5.
g.Sept. 12 - Hired the services ofPouloto do the repairs of her machine.Charinapaid Php 16,000 for repairs and maintenance.
h.Sept. 20 - Incurred and paid employee salaries amounting to Php 2,500 each for RonRonandWayner.
i.Sept. 25 - Paid supplies inventory purchased on account last Sept. 2 for Php 20,000 only.
j.Sept. 30 - Withdraw 5,000 for personal used.
Instructions:Journalize the transactions.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started