Directions: Do the task listed below using the transactions of Masayahin Company for November 2019. Write your answers on a separate sheet of paper. 1. Prepare the journal entries. 2. Post each transaction to its ledger account. 3. Prepare the trial balance. 4. Use the provided account numbers. 302 Masayahin, Drawings 401 Service Revenue 501 Salaries Expense 502 Rent Expense 503 Other Expense 101 Cash 102 Accounts Receivable 103 Supplies 104 Office Equipment 201 Accounts Payable 301 Masayahin, Capital Mario Masayahin established Happy Repair Business. The following are the transactions for the month of November 2019. Nov. 1 He invested P100,000 cash in the business. He purchased supplies amounting to P4,000. He bought office equipment for P10,000 paying P3,000 and the balance will be paid after 30 days. He received P14,000 for services rendered. 7. 11 23 He paid P1,000 for the weekly salary of an employee.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Directions: Do the task listed below using the transactions of Masayahin Company
for November 2019. Write your answers on a separate sheet of
paper.
1. Prepare the journal entries.
2. Post each transaction to its ledger account.
3. Prepare the trial balance.
4. Use the provided account numbers.
302 Masayahin, Drawings
401 Service Revenue
101 Cash
102 Accounts Receivable
103 Supplies
104 Office Equipment
501 Salaries Expense
502 Rent Expense
503 Other Expense
201 Accounts Payable
301 Masayahin, Capital
Mario Masayahin established Happy Repair Business. The following are the
transactions for the month of November 2019.
Nov.
1
He invested P100,000 cash in the business.
He purchased supplies amounting to P4,000.
He bought office equipment for P10,000 paying P3,000 and the
balance will be paid after 30 days.
He received P14,000 for services rendered.
4
7.
11
23
He paid P1,000 for the weekly salary of an employee.
Transcribed Image Text:Directions: Do the task listed below using the transactions of Masayahin Company for November 2019. Write your answers on a separate sheet of paper. 1. Prepare the journal entries. 2. Post each transaction to its ledger account. 3. Prepare the trial balance. 4. Use the provided account numbers. 302 Masayahin, Drawings 401 Service Revenue 101 Cash 102 Accounts Receivable 103 Supplies 104 Office Equipment 501 Salaries Expense 502 Rent Expense 503 Other Expense 201 Accounts Payable 301 Masayahin, Capital Mario Masayahin established Happy Repair Business. The following are the transactions for the month of November 2019. Nov. 1 He invested P100,000 cash in the business. He purchased supplies amounting to P4,000. He bought office equipment for P10,000 paying P3,000 and the balance will be paid after 30 days. He received P14,000 for services rendered. 4 7. 11 23 He paid P1,000 for the weekly salary of an employee.
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