Directions: Analyze the transactions of Kim as the owner of Chinita Girl Spa Services. Record the transactions using a financial transaction
Directions: Analyze the transactions of Kim as the owner of Chinita Girl Spa Services. Record the transactions using a financial transaction worksheet indicated on the next page. Write your answers on a separate sheet of paper.
June 1 Kim investedPhp 500,000.00 cash and equipment amounting to Php100,000.00 to open Chinita Girl Spa.
2 She borrowed Php 50,000.00 cash from Bamba Bank to be used for her business.
7 She bought tables and chairs from Maginhawa Furnitures and paid Php 20,000.00 cash.
15 Various equipment were purchased on account from Beauty Shoppy for Php 50,000.00.
18 She made a withdrawal of Php 10,000.00 for her personal use.
20 The account due to Beauty Shoppy was paid in cash.
21 Chinita Girl Spa Services was hired. The cash of Php 10,000.00 was received from the customer.
22 Gas and oil worth Php 1,000.00 and equipment repairs worth Php 1,000.00 were paid in a cash transaction.
24 Service was hired again by a customer for Php 15,000.00 but this time the customer was only able to pay Kim 50% on that day and she made a promise to pay the other 50% on June 30.
25 She paid Php 1,000.00 for the telephone bill.
27 Anothercustomerhired theservicesofChinita Girl Spa Services. A bill was issued to them for Php 30,000.00 and 50% of it was collected.
30 The remaining balance on the transaction last June 24 was paid in cash.
30 She paid Php 5,000.00 for the office rental space and Php 4,000.00 for employees’ salaries.
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Chinita Girl Spa Services |
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Month of June, 2020 |
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Date |
Description |
Ref |
Debit |
Credit |
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