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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
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
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.
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