Determine what ACCOUNT TITLE and group according to MAJOR ACCOUNT. Fill in the chart. 1. He purchased table napkins worth ₱200 to be used in your barbecue operations. 2. The customer with the ₱500 account receivable is broke you have estimated that you can only collect ₱420 from him. 3. He hired a helper in a barbecue business. The employee earns compensation of ₱8,000. 4. The cost of barbecue that was sold for ₱500 is ₱300. 5. He paid Justin Bieber ₱5,000, 000 to endorse the product. 6. On your total account receivable of ₱500, you expect to collect only about ₱480. 7. The barbeque grill was stolen. 8. He received an order of barbecue worth ₱800. The customer paid the sale price but instructed you to deliver the barbecue next week 9. He made a temporary withdrawal of ₱200 from your barbecue business. 10. He expects to use the barbecue grill for 5 years.

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter5: Gross Income: Exclusions
Section: Chapter Questions
Problem 11DQ
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Determine what ACCOUNT TITLE and group according to MAJOR ACCOUNT. Fill in the chart.
1. He purchased table napkins worth ₱200 to be used in your barbecue operations.
2. The customer with the ₱500 account receivable is broke you have estimated that you can only collect ₱420 from him.
3. He hired a helper in a barbecue business. The employee earns compensation of ₱8,000.
4. The cost of barbecue that was sold for ₱500 is ₱300.
5. He paid Justin Bieber ₱5,000, 000 to endorse the product.
6. On your total account receivable of ₱500, you expect to collect only about ₱480.
7. The barbeque grill was stolen.
8. He received an order of barbecue worth ₱800. The customer paid the sale price but instructed you to deliver the barbecue next week
9. He made a temporary withdrawal of ₱200 from your barbecue business.
10. He expects to use the barbecue grill for 5 years. 

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