2.1 Write up the asset and liability and capital accounts to record the following transactions in the records of J. Beach. 2022 July 1 Started business with PHP62,000 in the bank. Bought office furniture by cheque PHP3,700. 3 Bought computers PHP1,710 on credit from VPC Ltd. Bought a van paying by cheque PHP9,800. 5 8 Sold some of the office furniture - not suitable for the business-for PHP450 on credit to D. Bush & Sons. 2 15 Paid the amount owing to VPC Ltd PHP1,710 by cheque. 23 Received the amount due from D. Bush & Sons PHP450 by cheque. 31 Bought machinery by cheque PHP310.
2.1 Write up the asset and liability and capital accounts to record the following transactions in the records of J. Beach. 2022 July 1 Started business with PHP62,000 in the bank. Bought office furniture by cheque PHP3,700. 3 Bought computers PHP1,710 on credit from VPC Ltd. Bought a van paying by cheque PHP9,800. 5 8 Sold some of the office furniture - not suitable for the business-for PHP450 on credit to D. Bush & Sons. 2 15 Paid the amount owing to VPC Ltd PHP1,710 by cheque. 23 Received the amount due from D. Bush & Sons PHP450 by cheque. 31 Bought machinery by cheque PHP310.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please give the Journal and Title Accounts of each event
The same with the 2nd picture thankyou
Transcribed Image Text:ACCOUNTS TITLE
(3) kent expense.
CASH.
Supplies
/CASE
B
20,000
Ⓒinage
7.200
CAPITAL
EQUIPMENTyle
7:200
Recounts Payable
P34,400
utility Deposit..
merater deposit
CASH
SERVICE REVENUE
SALARIES EXPENSE
✓CASH
ACCOUTS RECEIVABLE
SERVICE KEVENUE
SUPPLIES
5,000
10.000
500
800
1.200
10,050
1,100
2.000
1.500
32.200
Total Balance 2,200
200,000
1- Accounts
20,000
500
15,000
10,000
rignage
30,000
8,000
Pre Rent
50,000
15,000
20,000
65,000
10,000
Service Revenue
71200
7.200
7.200
= 21.600
CREDIT
200,000
101050
10,090
20,000
15,00
Equipment
3,000
supplier
= 20, 100
10,000
30,000
11200
8,000
65,000
10, 000
Utilities Expence
860
1.100
= 1,900
ralaries Expence
Transcribed Image Text:2.1 Write up the asset and liability and capital accounts to record the following
transactions in the records of J. Beach.
2022
July 1 Started business with PHP62,000 in the bank.
2 Bought office furniture by cheque PHP3,700.
3 Bought computers PHP1,710 on credit from VPC Ltd.
Bought a van paying by cheque PHP9,800.
5
8 Sold some of the office furniture - not suitable for the business-for PHP450 on
credit to D. Bush & Sons.
15 Paid the amount owing to VPC Ltd PHP1,710 by cheque.
23 Received the amount due from D. Bush & Sons PHP450 by cheque.
31 Bought machinery by cheque PHP310.
2.2 You are required to open the asset and liability and capital accounts and record
the
following transactions for June 2022 in the records of P.Bernard.
2022
June 1 Started business with PHP17,500 in cash.
2 Paid PHP9,400 of the opening cash into a bank account for the business.
5 Bought office furniture on credit from Dream Ltd for PHP2,100.
Bought a van paying by cheque PHP5,250.
8
12 Bought equipment from Pearce & Sons on credit PHP2,300.
18 Returned faulty office furniture costing PHP260 to Dream Ltd.
25 Sold some of the equipment PHP200 cash.
26 Paid amount owing to Dream Ltd PHP1,840 by cheque.
28 Took PHP130 out of the bank and added to cash.
30 F. Brown lent us PHP4,000 giving us the money by cheque.
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