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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Journals
![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 P39,000
paying 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 and
the 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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F31b0e17f-c67e-459f-a7e0-7f902981f40a%2Fdb7046b7-656c-4b65-940f-ac03428137fd%2Fes5hl97_processed.png&w=3840&q=75)
Transcribed Image Text: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 P39,000
paying 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 and
the 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.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 3 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education