Activity 3. (Friendly Trucking) compril 1, 2016, Nels Ferrer organized a business called Friendly trucking. During April, the company entered into the following transactions: April 1 Nels Ferrer deposited 500 000 cash in a bank account in the name of the business. April 1 Purchased for P250 000 a transportation equipment to be use in the business. Nels paid 50% as down payment while the balance will be paid on May 15 2016. Paid rental for the month of April, 5 000. Earned and collected trucking income from Ryan, 8 000. Earned trucking income from Jesper, 30 000 on account. Jesper will pay on May 8, 2016. Paid salaries of drivers, 10 000. Rented the vehicle to Joshua for 35 000, Joshua paid P20 000 on the dte and the balance on April 20 Paid electric bills for the month, 2 000. Collected from Joshua the balance of his April 15 account. Purchased office supplies, P2 300. Earned and collected trucking income from Jay, 18 000. April 1 April 5 April 8 April 10 April 15 April 18 April 20 April 25 April 29 Instructions: a. Journalize the above transactions b. Post to ledger using the T-account format C. Prepare the unadjusted trial balance, as of April 30, 2016

Activity 3. (Friendly Trucking) compril 1, 2016, Nels Ferrer organized a business called Friendly trucking. During April, the company entered into the following transactions: April 1 Nels Ferrer deposited 500 000 cash in a bank account in the name of the business. April 1 Purchased for P250 000 a transportation equipment to be use in the business. Nels paid 50% as down payment while the balance will be paid on May 15 2016. Paid rental for the month of April, 5 000. Earned and collected trucking income from Ryan, 8 000. Earned trucking income from Jesper, 30 000 on account. Jesper will pay on May 8, 2016. Paid salaries of drivers, 10 000. Rented the vehicle to Joshua for 35 000, Joshua paid P20 000 on the dte and the balance on April 20 Paid electric bills for the month, 2 000. Collected from Joshua the balance of his April 15 account. Purchased office supplies, P2 300. Earned and collected trucking income from Jay, 18 000. April 1 April 5 April 8 April 10 April 15 April 18 April 20 April 25 April 29 Instructions: a. Journalize the above transactions b. Post to ledger using the T-account format C. Prepare the unadjusted trial balance, as of April 30, 2016

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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Subject : - Account
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Date General Account Titles and Explanations Ref. Debit Credit
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