Journals a. El Granado invested P157,000 cash to establish the businessb. Bought office desks and filing cabinet for cash, P15,150.c. El Granado invested in the business her personal computer with a fair value of P57,500d. Bought computer software for use in the business from Dela Torre Computer Center for P39,000paying P15,000 down; the balance is due in thirty days.e. Paid rent for the month, P5,300.f. Received cash for services rendered, P5,160.g. Ordered a panaflex sign for P9,000 from Royal Bright Enterprises, with P5,000 as down payment andthe balance due when installed.h. Received bill for advertising from Buy and Sell newspaper, P3,320.. Bought print paper and stationary on account, P2,290.. Received and paid electric bill, P1,240.K. Paid bill for advertising recorded previously in transaction (h).Received cash for services rendered, P10,900.m. Paid salaries to employees, P8,400.El Granado withdrew cash for personal use, P4,500.

Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

a. El Granado invested P157,000 cash to establish the business b. Bought office desks and filing cabinet for cash, P15,150. c. El Granado invested in the business her personal computer with a fair value of P57,500 d. Bought computer software for use in the business from Dela Torre Computer Center for FP39,000 paying P15,000 down; the balance is due in thirty days. e. Paid rent for the month, P5,300. Roceived sh for senvices rendered P5.160

a. El Granado invested P157,000 cash to establish the business b. Bought office desks and filing cabinet for cash, P15,150. c. El Granado invested in the business her personal computer with a fair value of P57,500 d. Bought computer software for use in the business from Dela Torre Computer Center for FP39,000 paying P15,000 down; the balance is due in thirty days. e. Paid rent for the month, P5,300. Roceived sh for senvices rendered P5.160

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

key internal and external stakeholders
Which of these processes leads to the preparation of Journal? O a. Classifying O b. Recording O c. Communication O d. Summarizing
Define the term journal.
how to fill in general journal
audit plan scope