Dirrctions: Prepare the journal entry fur each trannection Use the follkowing acount rIumbers for ponting rofarmmac. Write youur answera on a nopurate sheet of paper. Anarta Revenue 101 Cash 401 Service Reventae Accnunts Receivable ExpenaeE Supplien 102 Salaries Expense Rent Expense Utilities Experae Advertising Expense 103 501 104 Service Vehicie 502 Liability 503 201 Arcounts Payable S04 Owner's Equity 505 Miscellarieous Experne Angelie, Capital Angelie, Drowinga 301 302 Micbelle Angelie catabliahed Angelie'n Advartiaing Businces. The followimg ure the trannactioon for the whole month of October 2019. Michele Angelic deposited P250,000 under the narme of the buaineas. She acquired a service vehicle in the amount of P295,000 an aocount, Oct She acquired supplies for cash worth P57.000. Sho recelved P87,500 cnalh for palnted uigna. 3 10 She puid the month'n rent Bmointing tu P25,000. 11 Sho pulnted signa for Mundo Mobile an accDunt for P170,000. 12 She paid PS5,000 on account from Octolee 2. 16 She withdrew P25,000 for personal use. 23 She collected T35,000 from Mundo Mobile. Sho paid nalnries amounting to P57,000 for the month. She paid MH Telecom 17,500 for communication services for the 27 30 Vnonth. 31 She puid the bill amowntbag to P5,500 to AdLams for advertialng for the month
Dirrctions: Prepare the journal entry fur each trannection Use the follkowing acount rIumbers for ponting rofarmmac. Write youur answera on a nopurate sheet of paper. Anarta Revenue 101 Cash 401 Service Reventae Accnunts Receivable ExpenaeE Supplien 102 Salaries Expense Rent Expense Utilities Experae Advertising Expense 103 501 104 Service Vehicie 502 Liability 503 201 Arcounts Payable S04 Owner's Equity 505 Miscellarieous Experne Angelie, Capital Angelie, Drowinga 301 302 Micbelle Angelie catabliahed Angelie'n Advartiaing Businces. The followimg ure the trannactioon for the whole month of October 2019. Michele Angelic deposited P250,000 under the narme of the buaineas. She acquired a service vehicle in the amount of P295,000 an aocount, Oct She acquired supplies for cash worth P57.000. Sho recelved P87,500 cnalh for palnted uigna. 3 10 She puid the month'n rent Bmointing tu P25,000. 11 Sho pulnted signa for Mundo Mobile an accDunt for P170,000. 12 She paid PS5,000 on account from Octolee 2. 16 She withdrew P25,000 for personal use. 23 She collected T35,000 from Mundo Mobile. Sho paid nalnries amounting to P57,000 for the month. She paid MH Telecom 17,500 for communication services for the 27 30 Vnonth. 31 She puid the bill amowntbag to P5,500 to AdLams for advertialng for the month
Chapter3: Setting Up A New Company
Section: Chapter Questions
Problem 1.5C
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Transcribed Image Text:Assessment
Directionis: Prepare tht journal entry fur ech trannactiun Use the follewing account
rumbers for pooting vofarmmoc. Write your anawora on a noprate sheet
of paper.
Ansria
Revenue
101
Cash
401
Service Roventae
102
Accounts Reccivable ExpenLeK
501
Salarice Expense
Rent Expenne
S03 Utlities Experse
S04 Advertisinng Expense
Miscellaneous Expenne
103
Supplica
104
Service Vahicie
502
Linbility
201
Arcounta Payaıle
Owner's Equity
505
Angelie, Capital
Angelie, Drowingn
301
302
Micbelle Angelie catabliahed Angelie'n Advartiaing Buoiness. The following are
that trandactionn for the whole month of October 2019.
Michele Angclic deposited P250,000 under the name of the buaines
She aoquired a service vebkcln in the amount of F195,000 an aocount.
Ot
1.
She aoquired supplles for cash worth P57.000.
Sho recolved Pg7,500 coalı for palnted ulgna.
10
Sho paid the nonth'a rent amounting to P25,000.
11
Sho pulnted signa for Mundo Mobile an accDunt for P170,000.
12
She pald PS5,000 on account from October 2.
16
Sho withdrew P25,000 for personul uze.
23
She collected P35,000 Trom Mundo Mobile.
27
Sho paid nalnries amounting to P57,000 for the month.
30
She paid MH Telecom 17,500 for communication services for the
31
She juid the bUl amowntbg to P5,S00 to AdLams for advertialng for
the month
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