and used it to open a new account in the náme of Montero Plumbing. April Acquired a service vehicle costing P81,000. A April payment of P17,500 in cash was made and a note payable given for the P63,500 remainder. April Paid rent for the month, P7,150 3 1, 2.
and used it to open a new account in the náme of Montero Plumbing. April Acquired a service vehicle costing P81,000. A April payment of P17,500 in cash was made and a note payable given for the P63,500 remainder. April Paid rent for the month, P7,150 3 1, 2.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
journal analysis
Transcribed Image Text:PROBLEM
John Montero, opened a plumbing service, Montero
Plumbing. Operations began on April 21, 2021, and the
following transactions were completed during the month:
田
Withdrew P67,000 from a personal savings account
April
and used it to open a new account in the name of
Montero Plumbing.
Acquired a service vehicle
April
payment of P17,500 in cash was made and a note
osting P81,000. A
payable given for the P63,500 remainder.
April
Paid rent for the month, P7,150
April
Acquired plumbing supplies on account P15,700.
6.
April Paid for three months of advertising and recorded
Prepaid Advertising in the amount of P6,000.
April Cash in the amount of P18,350 was received for
plumbing services rendered on the same day
April Acquired additional plumbing supplies for cash,
6.
P8,050
2.
Transcribed Image Text:April
Paid salaries, P11,600.
11
April Rendered plumbing services and billed the customer,
15
P42,200.
April Paid P5,700 of the amount owed from the
16
transaction of April 6
April
Paid miscellaneous expenses, P4,300
19
April Collected P21,000 from the customer on the April
20
15 transaction
April
The owner withdrew P14,500 from the business
21
April
Paid salaries, P14,100
22
April Paid the first installment of the note payable,
24
P3,850.
April
Paid telephone expense, P1,250.
25
April Billed the Bel Company for plumbing services
27
rendered, P14,150
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