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create a ledger

create a ledger

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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create a ledger

Presented below is the statement of account received from Silver Bank Silver Bank Quezon City Account No. 00789 Sparta Company 1111 Athena Road, Quezon City May 31, 2017 Date Debits Credits Balance Apr. 30 P 57,750 May 3 P 225,000 282,750 Chk No. 0901 P 56,250 226,500 May 5 May 7 168,750 395,250 May 8 146,250 541,500 525 DM 540,975 May 9 May 16 May 17 Chk No. 0902 94,500 446,475 Chk No. 0905 29,250 417,225 Chk No. 0903 208,125 209,100 May 29 75,000 CM 284,100 600 BSC 283,500 May 30 28,500 NSF 255,000 19,500 274,500 DM - Debit Memo BSC - Bank Service Charge Legend: CM - Credit Memo NSF - No Sufficient Fund Note: The P 525 debit memo is the cost of the checkbook. The P75,000 credit memo is a collection of a noninterest bearing note and the P600 is the bank service charge for the collection.
Transcribed Image Text:Presented below is the statement of account received from Silver Bank Silver Bank Quezon City Account No. 00789 Sparta Company 1111 Athena Road, Quezon City May 31, 2017 Date Debits Credits Balance Apr. 30 P 57,750 May 3 P 225,000 282,750 Chk No. 0901 P 56,250 226,500 May 5 May 7 168,750 395,250 May 8 146,250 541,500 525 DM 540,975 May 9 May 16 May 17 Chk No. 0902 94,500 446,475 Chk No. 0905 29,250 417,225 Chk No. 0903 208,125 209,100 May 29 75,000 CM 284,100 600 BSC 283,500 May 30 28,500 NSF 255,000 19,500 274,500 DM - Debit Memo BSC - Bank Service Charge Legend: CM - Credit Memo NSF - No Sufficient Fund Note: The P 525 debit memo is the cost of the checkbook. The P75,000 credit memo is a collection of a noninterest bearing note and the P600 is the bank service charge for the collection.
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