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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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Directions: Analyze the transactions of Ronald Cabiling Housekeeping Services during the month of August 2020. Record the transactions using the Mr. Cabiling invested Php 1, 000.000.00 cash for his business. Various equipment were purchased for the business amounting financial transaction worksheet. Write your answers on a separate sheet of paper. August1- Mr. Cabiling invested Php 1, 000,000.00 cash for his businee. Various equipment were purchased for the business amountin to Php 100,000.00 2 - 4 - Cabiling Housekeeping Services was hired by a customer and they received a payment of Php 5, 000.00. 5 - Cabiling paid Php 3,000.00 for the salary of the employees. 7 - Another customer hired the service of Cabiling Housekeeping. A bill was issued to them for Php 10,000.00 of which 90% was collected. 13 - Cabiling paid Php 2,000.00 for the telephone bill. 21 - Cabiling invested again the amount of Php 50,000 in the business. 25 - The account on August 7 was finally collected in full. The De Guzman family hired Cabiling Housekeeping Services to clean their mansion amounting to Php 20.000.00. The family paid the amount of Php 5,000.00 and the balance will be paid 28 - on August 30. 30 - Cabiling collected the balance from De Guzman family.
Transcribed Image Text:Directions: Analyze the transactions of Ronald Cabiling Housekeeping Services during the month of August 2020. Record the transactions using the Mr. Cabiling invested Php 1, 000.000.00 cash for his business. Various equipment were purchased for the business amounting financial transaction worksheet. Write your answers on a separate sheet of paper. August1- Mr. Cabiling invested Php 1, 000,000.00 cash for his businee. Various equipment were purchased for the business amountin to Php 100,000.00 2 - 4 - Cabiling Housekeeping Services was hired by a customer and they received a payment of Php 5, 000.00. 5 - Cabiling paid Php 3,000.00 for the salary of the employees. 7 - Another customer hired the service of Cabiling Housekeeping. A bill was issued to them for Php 10,000.00 of which 90% was collected. 13 - Cabiling paid Php 2,000.00 for the telephone bill. 21 - Cabiling invested again the amount of Php 50,000 in the business. 25 - The account on August 7 was finally collected in full. The De Guzman family hired Cabiling Housekeeping Services to clean their mansion amounting to Php 20.000.00. The family paid the amount of Php 5,000.00 and the balance will be paid 28 - on August 30. 30 - Cabiling collected the balance from De Guzman family.
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