Hr billed his customers Pl2,940 for services on accouDg. He paid P1,850 the electric bill from BEBECO.h. He paid P3,500 for the membership fee.. He received P17,650 in cash for services rendered.j. He paid P1,000 to partially settle accounts with Orion Company.k. He paid P8,400 for the monthly rental of the place.1. He paid P3,500 for the salaries of employees. Directions: Record the transactions directly into the T-accounts. The transactionsare independent from one another. Write your answers on a separatesheet of paper.Use the following account titles:CashOwner's WithdrawalsProfessional FeesSalaries ExpenseRent ExpenseUtilities ExpenseMiscellaneous ExpenseAccounts ReceivableOffice EquipmentOffice FurnitureAccounts PayableOwner's Capitala. The owner deposited P280,000 in the name of his business.b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, payingP1,000 in cash and the balance on account.He bought chairs and tables for the office for P12,300 cash.с.d. He purchased furniture from Orion Company for P2,750 in cash.He received and paid the telephone bill from Ph Telecom amounting to P1,080.е.15

Name: Hr billed his customers Pl2,940 for services on accouDg. He paid P1,8
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Hr billed his customers Pl2,940 for services on accouDg. He paid P1,850 the electric bill from BEBECO.h. He paid P3,500 for the membership fee.. He received P17,650 in cash for services rendered.j. He paid P1,000 to partially settle accounts with Or

Owner's Capital Debit Amount Credit Amount Cash 2,80,000…

Business

Accounting

Directions: Record the transactions directly into the T-accounts. The transaction: are independent from one another. Write your answers on a separate sheet of paper. Use the following account titles: Cash Owner's Withdrawals | Accounts Receivable Office Equipment Office Furiture Accounts Payable Owner's Capital Professional Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense a. The owner deposired P280,000 in the name of his business. b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, paying P1,000 in cash and the balance on account. c. He bought chairs and tables for the office for P12,300 cash. He purchased furniture from Orion Company for P2,750 in cash. He received and paid the telephone bill from Ph Telecom amounting to P1,080. 15

Directions: Record the transactions directly into the T-accounts. The transaction: are independent from one another. Write your answers on a separate sheet of paper. Use the following account titles: Cash Owner's Withdrawals | Accounts Receivable Office Equipment Office Furiture Accounts Payable Owner's Capital Professional Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense a. The owner deposired P280,000 in the name of his business. b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, paying P1,000 in cash and the balance on account. c. He bought chairs and tables for the office for P12,300 cash. He purchased furniture from Orion Company for P2,750 in cash. He received and paid the telephone bill from Ph Telecom amounting to P1,080. 15

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
A book keeper recorded the purchase of office supplies on accounts as follows: Dr. Supplies expense 34000 Cr. Accounts receivable 34000 How much are total assets over or under stated? show workings
Journalize the following transactions by Ayayai Printing Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. Stockholders invest $82,500 cash to start the business. 2. Purchased three digital copy machines for $450,000, paying $102,000 cash and signing a 5-year, 6% note for the remainder. 3. Purchased $4,800 paper supplies on credit. 4. Cash received for photocopy services amounted to $7,300. 5. Paid $400 cash for radio advertising. 6. Paid $1,000 on account for paper supplies purchased in transaction 3. 7. Dividends of $2,200 were paid to stockholders. 8. Paid $1,200 cash for rent for the current month. 9. Received $2,100 cash advance from a customer for future copying. 10. Billed a customer for $300 for photocopy services completed. No. Account Titles and Explanation Debit…
Required: Below is a Chart of Accounts of a Service Business, submit a research on the nature or definition of every item in the chart of accounts.
A business renders services to a customer for OR16,000 on account. Which account is credited? Select one a. Accounts payable b. Cash c Accounts receivable d. service revenue CEA MYCe o o o o
REQUIRED: • JOURNAL ENTRIES • T-Accounts Note: PLEASE NO TO HANDWRITTEN. Make it TYPEWRITTEN thank you!
for each entry. (Record debits first, then credits Seled the explanation on the last line of the journal entry table.) Apr. 4: Collected $1.500 cash rom a cient on account Date Accounts and Explanation Debit Credit Apr. 4 Cash 1.500 Accounts Recelvable 1.500 Received cash on account Apr. 8 Performed tax services for a client on account $3.000 Date Accounts and Explanation Debit Credit Accounts Recelvable 3,800 Ap Senvice Revenue 3.00 Performed aenvices on account Apr. 13 Paid $1.100 on account Date Accounts and Explanation Debit Credit Apr 13 Acceunts Payable 2,400 Cash 2.400 Choose from any ist or enter any number in the input feids and then click Check Answer
a. covered transaction b. possible suspicious transaction c. confidential transaction d. immoral transaction e. illegal transaction
Journalize the following transactions: i. December 7. Wrote off Wilderness Park Accessories, Inc.'s past-due account as uncollectible. $247.60. M203. ii. iii. December 17. Received cash in full payment of Wilderness Park Accessories, Inc.'s account, previously written as uncollectible, $247.60. M215 and R461. December 23. Wrote off Bart's Landscaping's past-due account as uncollectible, $829.35. M229.
Subject: acounting
Analyze each transaction and match it with the correct journal entry as stated. Be sure to look at each transaction carefully to ensure you make the correct choice. Purchase on account some office equipment Paid for utilities expense Paid the bank back the money previously borrowed on a note Paid the telephone bill received Made a partial payment to a creditor on account Took cash out of the business to pay for a personal bill Record revenues earned, but not collected yet Record internet expenses incurred, but not paid yet Received cash for the return of some equipment that was defective Received Payment from customer on an accounts receivable Made payment to an accounts payable Paid salary for office administrator Dr. Office Equipment; Cr. Acc Dr. Utilities Expense; Cr. Casl Dr. Accounts Payable; Cr. Cas Dr. Telephone Expense; Cr. C✓ Dr. Cash; Cr. Account Receivi Dr. Accounts Payable; Cr. Ca: ✓ Dr. Internet Expense; Cr. Acc Dr. Internet Expense; Cr. Acc Dr. Cash; Cr. Account Receiv:…
Complete the General Ledger based on the recorded journal entries. Remember to: write the date, explanation, and fill out the value in the corresponding DR or CR column. Your explanation should only contain the other account names as per your journal entries, separated by a "/" where necessary.