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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are transactions of Sparta Company for the month of May
May
Sparta Company deposited P225,000 in the checking account with Silver Bank.
Bought merchandise from Troy Trading. Issued Check No. 0901 in the amount of P56,250.
7
Sparta Company deposited P168,750 in the checking account.
8
Deposited P146,250 in the checking account
Bought merchandise from various suppliers and issued the following checks:
Payee
Check No.
Amount
Zeus Co.
0902
P94,500
Sphinx Trading
0903
208,125
15
Purchased merchandise from various suppliers and issued the following checks:
Payee
Check No.
Amount
Chronos Co.
0904
P72,000
Eros Co.
0905
29,250
29
Issued Check No. 0906 to Pontus Merchandising, P37,125
31
Deposited P54,000 in the checking account
3.
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