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Directions: Analyze the transactions of Kim as the owner of Chinita Services. Record the transactions using a financial ta worksheet indicated on the next page. Write your ansv separate sheet of paper.

Directions: Analyze the transactions of Kim as the owner of Chinita Services. Record the transactions using a financial ta worksheet indicated on the next page. Write your ansv separate sheet of paper.

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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What I Can Do 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. etob June Kim invested Php 500,000.00 cash and equipment amounting to Php100,000.00 to open Chinita Girl Spa. 1 She borrowed Php 50,000.00 cash from Bamba Bank to be used for her business. She bought tables and chairs from Maginhawa Furnitures and paid Php 20,000.00 cash. Various equipment were purchased on account from Beauty Shoppy for Php 50,000.00. 15 in oble 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. Another customer hired the services of Chinita Girl Spa Services. A bill was issued to them for Php 30,000.00 and 50% of it was 27 collected. 30 The remaining balance on the transaction last June 24 was paid in cash. 30 2888id She paid Php 5,000.00 for the office rental space and Php 4,000.00 for employees' salaries.
Transcribed Image Text:What I Can Do 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. etob June Kim invested Php 500,000.00 cash and equipment amounting to Php100,000.00 to open Chinita Girl Spa. 1 She borrowed Php 50,000.00 cash from Bamba Bank to be used for her business. She bought tables and chairs from Maginhawa Furnitures and paid Php 20,000.00 cash. Various equipment were purchased on account from Beauty Shoppy for Php 50,000.00. 15 in oble 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. Another customer hired the services of Chinita Girl Spa Services. A bill was issued to them for Php 30,000.00 and 50% of it was 27 collected. 30 The remaining balance on the transaction last June 24 was paid in cash. 30 2888id She paid Php 5,000.00 for the office rental space and Php 4,000.00 for employees' salaries.
Chinita Girl Spa Services Financial Transaction Worksheet Month of June, 2020 OWNER'S Date ASSETS LIABILITIES EQUITY Other Kim, Capital Accounts Loans Accounts Account June Cash Furnitures Equipment Recelvable Payable Payable Title 1. 7 15 18 20 21 22 24 25 27 30 30 Bal. Total Balances ad le e le sd lo om li a
Transcribed Image Text:Chinita Girl Spa Services Financial Transaction Worksheet Month of June, 2020 OWNER'S Date ASSETS LIABILITIES EQUITY Other Kim, Capital Accounts Loans Accounts Account June Cash Furnitures Equipment Recelvable Payable Payable Title 1. 7 15 18 20 21 22 24 25 27 30 30 Bal. Total Balances ad le e le sd lo om li a
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