a. Account debitedAccountCashAmount100,000Lacson invested P100,000 cash in thebusinessb. Account creditedLacson,100,0002CapitalRent Expense 5,000Paid PS,000 for office rent for thea. Account debitedmanth.b. Account creditedCash5,0003Purchased P1,500 of supplies ona. Account debitedaccount.b. Account crediteda. Account debitedb. Account creditedReceived P6,000 for services provided. a. Account debitedb. Account crediteda. Account debitedb. Account creditedPaid P3,000 to advertise on the radio.5.6.Withdrew P8,000 for personal use.

Name: a. Account debitedAccountCashAmount100,000Lacson invested P100,000 ca
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Description: a. Account debitedAccountCashAmount100,000Lacson invested P100,000 cash in thebusinessb. Account creditedLacson,100,0002CapitalRent Expense 5,000Paid PS,000 for office rent for thea. Account debitedmanth.b. Account creditedCash5,0003Purchased P1,500

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

Business

Accounting

Account Amount Lacson invested P100,000 cash in the a. Account debited Cash 100,000 business b. Account credited Lacson, 100,000 Capital Rent Expense 5,000 Paid PS,000 for office rent for the month. 2 a. Account debited b. Account credited a Account debited Cash 5,000 Purchased P1,500 of supplies on account b. Account credited a. Account debited b. Account credited a Account debited Paid P3,000 to advertise on the radio. Received P6,000 for services provided.

Account Amount Lacson invested P100,000 cash in the a. Account debited Cash 100,000 business b. Account credited Lacson, 100,000 Capital Rent Expense 5,000 Paid PS,000 for office rent for the month. 2 a. Account debited b. Account credited a Account debited Cash 5,000 Purchased P1,500 of supplies on account b. Account credited a. Account debited b. Account credited a Account debited Paid P3,000 to advertise on the radio. Received P6,000 for services provided.

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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Trial Balance to be correced Account Titles Debit Credit Cash in Bank 25,000 Accounts Receivable 20,000 Supplies Inventory 10,000 Tools 5,000 Shop Equipment 30,000 Accounts Payable 5,000 Notes Payable E. Dedumo, Capital E. Dedumo, Withdrawals 8,000 48,000 2,000 Repairs Income 40,000 Utilities Expense 3,000 Salaries and Wages 5,000 Taxes and Licenses 1,000 Total 101,000 101,000
QUESTION 12 Brown Company's bank statement for September 30 showed: 6 poinis Bank statement balance Book balance of cash $2.790 $3.724 The following information was also available as of September 30: a. A customer's check for $150 marked NSF was returned to Brown Company by the bank. In addition, the bank charged the company's account a $10 processing fee. b. The September 30 cash receipts, $3,000 were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. C. Outstanding checks amounted to $2,190. d. A check for rent expense was written for $326 but by mistake was recorded in the accounting records as $362. Required: Prepare bank reconciliation as of September 30.
The August bank statement and cash T-account for Martha Company follow: BANK STATEMENT Date Checks Deposits Other Balance August 1 $ 13,170 August 2 $ 100 13,070 August 3 $ 9,000 22,070 August 4 200 21,870 August 5 150 21,720 August 9 490 21,230 August 10 110 21,120 August 15 3,000 24,120 August 21 200 23,920 August 24 14,900 9,020 August 25 5,500 14,520 August 30 600 13,920 August 30 Interest earned $ 20 13,940 August 31 Service charge 10 13,930 Cash (A) Debit Credit August 1 Balance 13,170 Deposits Checks written August 2 9,000 100 August 1 August 12 3,000 200 August 2 August 24 5,500 150 August 3 August 31 4,000 110 August 4 490 August 5 190 August 15 250 August 17 600 August 18 200 August 19 14,900 August 23 August 31 Balance 17,480 No deposits were in transit and no checks were…
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nta 22 Coronado has the following assets at December 31, 2019. Cash in bank-savings account 134,000 Certificates of deposit (270-day) 226,000 sponder a como Cash on hand 1,600 Postdated checks 6,000 Cash refund due from State Taxing Authority 32,100 Checking account balance 12,000 What amount should be reported as cash? arcar nta O a. 135,600 O b. 134,000 O c. 179,700 O d. 147,600 pe here to search
Beginning Balance A. D. Total Ending Balance Deposits $7,500 350 7,850 Bank Statement. Checks 101 102 103 106 Bank service charges C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. Bank Statement balance $ 600 250 125 242 1,307 Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. $0 E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. 1. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107. Assume no bank errors. Lavender Company Bank Reconciliation…
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Accounts Payable S600 Accounts Receivable $5,200 Cash $27,000 Loan Payable in 6 months S4,400 Revenue received in advance $12,000 Bank Loan - Mortgage S30,000 Accumulated depreciation S7,800 Inventory S10,200 Buildings $17,600 Supplies $1,600 What is the most likely amount for the company's net assets? Select one: a. $41,600. Б. $6,800. C. $14,600. d. $26,600. e. $18,800.