1- Invested P20,000 cash in the business 2 - Bought repair tools worth P3,200 and repair supplies P4,500 on credit from ABC Merchandising 3 - Paid P250 for a newspaper advertisement announcing the opening of his business 4 - Completed repair work for R. Gil on credit, P2,200 7- Rendered repair service for M. San Juan worth P3,800 accepting P1,800 cash and promised to pay the balance after 10 days 8 - Purchased additional repair supplies from M. Trading on credit, P3,000 9- Paid rent of the shop, P5,000 11 - Received cash from C. Santos for repair service rendered, P4,300 15 - Paid the salary of the shop helper, P2,500 17 - Received payment from M. San Juan 20 - Received and paid water & electric bill, P2,300 21 - Sent payment to M. Trading 24 - R. Gil paid his account 27 - Earned P1,700 from a customer for repair services 31 - Paid the salary of the shop helper, P2,500. ANSWERS: ASSETS LIABILITIES CAPITAL
1- Invested P20,000 cash in the business 2 - Bought repair tools worth P3,200 and repair supplies P4,500 on credit from ABC Merchandising 3 - Paid P250 for a newspaper advertisement announcing the opening of his business 4 - Completed repair work for R. Gil on credit, P2,200 7- Rendered repair service for M. San Juan worth P3,800 accepting P1,800 cash and promised to pay the balance after 10 days 8 - Purchased additional repair supplies from M. Trading on credit, P3,000 9- Paid rent of the shop, P5,000 11 - Received cash from C. Santos for repair service rendered, P4,300 15 - Paid the salary of the shop helper, P2,500 17 - Received payment from M. San Juan 20 - Received and paid water & electric bill, P2,300 21 - Sent payment to M. Trading 24 - R. Gil paid his account 27 - Earned P1,700 from a customer for repair services 31 - Paid the salary of the shop helper, P2,500. ANSWERS: ASSETS LIABILITIES CAPITAL
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:1 - Invested P20,000 cash in the business
2 - Bought repair tools worth P3,200 and repair supplies P4,500 on credit from ABC Merchandising
3 - Paid P250 for a newspaper advertisement announcing the opening of his business
4 - Completed repair work for R. Gil on credit, P2,200
7- Rendered repair service for M. San Juan worth P3,800 accepting P1,800 cash and promised to pay the
balance after 10 days
8 - Purchased additional repair supplies from M. Trading on credit, P3,000
9 - Paid rent of the shop, P5,000
11 - Received cash from C. Santos for repair service rendered, P4,300
15 - Paid the salary of the shop helper, P2,500
17 - Received payment from M. San Juan
20 - Received and paid water & electric bill, P2,300
21 - Sent payment to M. Trading
24 - R. Gil paid his account
27 - Earned P1,700 from a customer for repair services
31 - Paid the salary of the shop helper, P2,500.
ANSWERS:
ASSETS
LIABILITIES
CAPITAL
%3D
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