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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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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. LO
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. LO
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