Feb. 1 Mr. Dela Cruz invested P50,000 cash in his laundry busihes Rented office space and paid P1,000 cash for the February rent. Purchased laundry equipment for P25,000 with P10,000 as downpayment and the balances on equal installment for 5 months. Purchase office supplies by paying P1,000 cash. Completed laundry service and collected 550 cash. Purchased P1,550 office equipment on credit. 15 Completed laundry service on credit in the amount of P5,000. 17 Purchased P500 office supplies on credit. 19 Paid cash on the office equipment purchased on February 6, 2020. 23 Billed client for P2, 500 for service completed and balance will due in 30 days. 26 Received P2,500 cash for the service rendered on February 15, 2020. 28 Paid assistant's salary of P1,500 cash for this month. 5
Feb. 1 Mr. Dela Cruz invested P50,000 cash in his laundry busihes Rented office space and paid P1,000 cash for the February rent. Purchased laundry equipment for P25,000 with P10,000 as downpayment and the balances on equal installment for 5 months. Purchase office supplies by paying P1,000 cash. Completed laundry service and collected 550 cash. Purchased P1,550 office equipment on credit. 15 Completed laundry service on credit in the amount of P5,000. 17 Purchased P500 office supplies on credit. 19 Paid cash on the office equipment purchased on February 6, 2020. 23 Billed client for P2, 500 for service completed and balance will due in 30 days. 26 Received P2,500 cash for the service rendered on February 15, 2020. 28 Paid assistant's salary of P1,500 cash for this month. 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Activity 6: Problem Solving
Directions: Make a table in your activity notebook by arranging the
following asset, liability, and equity titles in the table: Cash; Accounts
Receivable; Office Supplies; Office Equipment; Laundry Equipment;
Accounts Payable; Dela Cruz, Capital; Dela Cruz, Withdrawals; Service
Revenues; and Expenses. Use additions and subtractions or a () to show
the effects of each transaction on the accounts in the accounting equation.
Show the balances after each transaction. (See table on page 8 as your
references)
Feb. 1
Mr. Dela Cruz invested P50,000 cash in his laundry business.
1
Rented office space and paid P1,000 cash for the February rent.
2
Purchased laundry equipment for P25,000 with P10,000 as downpayment and the
balances on equal installment for 5 months.
Purchase office supplies by paying P1,000 cash.
Completed laundry service and collected 550 cash.
Purchased P1,550 office equipment on credit.
15
Completed laundry service on credit in the amount of P5,000.
17
Purchased P500 office supplies on credit.
19
Paid cash on the office equipment purchased on February 6, 2020.
23
Billed client for P2, 500 for service completed and balance will due in 30 days.
26
Received P2,500 cash for the service rendered on February 15, 2020.
28
Paid assistant's salary of P1,500 cash for this month.
28
Paid 550 cash for this month utility bill.
28
Dela Cruz withdrew P1,500 cash from the business for personal use.
PARENTS/GUARDIAN SIGNITURE OVER PRINTED NAME
SDCB Q3_FABM11 LAS2_WI
2022.02.18 11:35
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