He paid P1,000 to partially settle accounts with Orion Companyf.Direch. He paid P3,500 for the membership fee.i.He received P17,650 in cash for services rendered.moj.k. He paid P8,400 for the monthly rental of the place.1. He paid P3,500 for the salaries of employees.100 The owner deposited P280,000 in the name of his business.Dinections: Record the transactions directly into the T-accounts. The transactionsare independent from one another. Write your answers on a separatesheet of paper.isOwner's WithdrawalsProfessional FeesCashACCounts ReceivableOffice EquipmentOffice FurnitureAccounts PayableOwner's CapitalSalaries ExpenseRent ExpenseUtilities ExpenseMiscellaneous Expensea.urchased a 4-in-1 equipment from Limay Equipment for P4,950, payingP1 000 in cash and the balance on account.c. He bought chairs and tables for the office for P12,300 cash.d. He purchased furniture from Orion Company for P2,750 in cash.* he received and paid the telephone bilu from Ph Telecom amounting to P1,030.15

T accounts are the general ledger accounts that are being prepared after recording of transactions…

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

Directions: Record the transactions directly into the T-accounts. The transactions b. He purchased a 4-in-1 equipment from Limay Equipment for P4,950, paying independent from one another. Write your answers on a separate The owner deposited P280,000 in the name of his business. are sheet of paper. Cash ACCounts Receivable Office Equipment Office Furniture Accounts Payable Owner's Capital Owner's Withdrawals Professional Fees Salaries Expense Rent Expense Utilities Expense Miscellaneous Expense a. P1 000 in cash and the balance on account. c. He bought chairs and tables for the office for P12,300 cash. d. He purchased furniture from Orion Company for P2,750 in cash. ie 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

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