Entity A started operations during the period. The following were the transactions: a. Mr A, the sole owner of Entity A invested 1,000,000 to the business b. Equipment costing 250,000 was acquired for cash . c. Inventory costing P180,000 was acquired on credit, Entity A uses the perpetual inventory system . d. Inventory costing 120.000 was sold for P400,000 credit e. Accounts payable of P160,000 was settled . f. Accounts receivable of 340, 000 was collected g. Utilities expense of P60,000 was paid. h. Salaries expense of 280,000 was paid . i. Owner's drawings during the period totaled 70,000 j. Depreciation expense on the equipment for the period was 25,000 Requirement: Prepare Unadjusted Trial Balance
Entity A started operations during the period. The following were the transactions:
a. Mr A, the sole owner of Entity A invested 1,000,000 to the business
b. Equipment costing 250,000 was acquired for cash .
c. Inventory costing P180,000 was acquired on credit, Entity A uses the perpetual inventory system .
d. Inventory costing 120.000 was sold for P400,000 credit
e. Accounts payable of P160,000 was settled .
f.
g. Utilities expense of P60,000 was paid.
h. Salaries expense of 280,000 was paid .
i. Owner's drawings during the period totaled 70,000
j.
Requirement: Prepare Unadjusted
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
