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(a) Analyze the transactions in an accounting equation similar to the Clearcopy demonstration format. Include money columns for Cash, Supplies, Land, Building, Equipment, Furniture and Fixtures, Accounts Payable, Loans Payable, Valdez, Capital (b) Prepare Statement of Financial Position 2020.11.20 C

(a) Analyze the transactions in an accounting equation similar to the Clearcopy demonstration format. Include money columns for Cash, Supplies, Land, Building, Equipment, Furniture and Fixtures, Accounts Payable, Loans Payable, Valdez, Capital (b) Prepare Statement of Financial Position 2020.11.20 C

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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5. The following transactions were entered into by Dr. Jo Valdez for June: 04 Jo Valdez opened "Jo's Health Spa" by investing P 1,500,000 cash and half of a lot inherited by Jo and her sister Ann worth P 500,000. Interviewed a nurse and a business graduate to work for her for a salary of P 15,000 07 Valdez bought for cash P 900,000 worth of equipment and P 15,000 worth of supplies Bought furniture and fixtures from a friend at a cost of P 150,000, promising to pay after 7 days. Only P 80,000 of this was placed in the clinic. The remaining P 70,000 furniture & fixtures were placed in her condominium unit 08 10 Applied for a P 2,500,000 business loan from a bank by mortgaging her inherited lot. The money will be used to construct the clinic. Withdrew supplies worth P 2,000 for personal use The loan was approved, and the money deposited for the account of the health spa Paid one half of the amount due on the furniture and fixtures. A two-story clinic was constructed on the inherited lot. The construction cost amounted to P 2,400.000. Term: down payment P 500,000 and a note for the balance. 12 14 15 17 30 (a) Analyze the transactions in an accounting equation similar to the Clearcopy demonstration format. Include money columns for Cash, Supplies, Land, Building, Equipment, Furniture and Fixtures, Accounts Payable, Loans Payable, Valdez, Capital (b) Prepare Statement of Financial Position 2020.11.20 00:18
Transcribed Image Text:5. The following transactions were entered into by Dr. Jo Valdez for June: 04 Jo Valdez opened "Jo's Health Spa" by investing P 1,500,000 cash and half of a lot inherited by Jo and her sister Ann worth P 500,000. Interviewed a nurse and a business graduate to work for her for a salary of P 15,000 07 Valdez bought for cash P 900,000 worth of equipment and P 15,000 worth of supplies Bought furniture and fixtures from a friend at a cost of P 150,000, promising to pay after 7 days. Only P 80,000 of this was placed in the clinic. The remaining P 70,000 furniture & fixtures were placed in her condominium unit 08 10 Applied for a P 2,500,000 business loan from a bank by mortgaging her inherited lot. The money will be used to construct the clinic. Withdrew supplies worth P 2,000 for personal use The loan was approved, and the money deposited for the account of the health spa Paid one half of the amount due on the furniture and fixtures. A two-story clinic was constructed on the inherited lot. The construction cost amounted to P 2,400.000. Term: down payment P 500,000 and a note for the balance. 12 14 15 17 30 (a) Analyze the transactions in an accounting equation similar to the Clearcopy demonstration format. Include money columns for Cash, Supplies, Land, Building, Equipment, Furniture and Fixtures, Accounts Payable, Loans Payable, Valdez, Capital (b) Prepare Statement of Financial Position 2020.11.20 00:18
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