Homework Help is Here – Start Your Trial Now!
Business
Accounting
following account code for posting reference. Write your answers on a Jinky Estrada is an experienced event planner. The transactions for December Directions: Record the transactions of Jinky Estrada in the general journal. Use the separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop compu worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the fax machine.

following account code for posting reference. Write your answers on a Jinky Estrada is an experienced event planner. The transactions for December Directions: Record the transactions of Jinky Estrada in the general journal. Use the separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop compu worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the fax machine.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Answer the first pic the second pic is the example 

following account code for posting reference. Write your answers on a Directions: Record the transactions of Jinky Estrada in the general journal. Use the Jinky Estrada is an experienced event planner. The transactions for December separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. 1 Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop computer worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the faxX machine. 22
Transcribed Image Text:following account code for posting reference. Write your answers on a Directions: Record the transactions of Jinky Estrada in the general journal. Use the Jinky Estrada is an experienced event planner. The transactions for December separate sheet of paper. Account Titles 301 Estrada, Capital 101 Cash Consulting Revenues Salaries Expense 401 102 Accounts Receivable 501 103 Office Furniture Office Equipment 502 Rent Expense 104 201 Accounts Payable 2018 are the following: Dec. 1 Jinky invested P100,000 in cash to start her own business. 3 She paid 5,000 for one month's rent. 4 She bought office furniture for P15,000 in cash. 4 She received a laptop computer worth P54,000. She paid 50% as downpayment for it with a balance due in 30 days. She performed services for P12,000 in cash. 7 She did services for P11,000 on credit. She acquired a fax machine for P8,500; paid P4,000 in cash, balance due in 10 days. 11 She received P5,400 from clients on account. 14 She paid P12,000 for salaries. 15 She settled in full the balance for the faxX machine. 22
The business paid P1,000 for the weekly salary of an employee. July 24 July GENERAL JOURNAL Page 3 P.R. Debit Credit Da Date Account Titles and Explanation 502 P1,000 Ju Jul-24 Salaries Expense 101 P1,000 Cash To record payment of salary Analysis: P1,000 Salaries Expense Debit De Decrease in Owner's Equity: P1,000 Cash Credit De Decrease in Asset: July 27 Mr. Pamilya withdrew P500 from the business. GENERAL JOURNAL Page 3 P.R. Dębit Credit Date Account Titles and Explanation 302 P 500 Jul-27 Pamilya, Drawings Cash 101 P 500 To record owner's withdrawal Analysis: Decrease in Owner's Equity: Pamilya, Drawings P500 Debit Decrease in Asset: Cash P500 Сredit July 28 He collected P2,000 which is the amount billed to a customer. GENERAL JOURNAL Page 3 Date Account Titles and Explanation P.R. Debit Credit Jul-28 Cash 101 P 2,000 Accounts Receivable 102 P 2,000 To record collection of customer's account Analysis: Increase in asset: Decrease in asset: Cash Debit P2,000 Accounts Receivable P2,000 Credit
Transcribed Image Text:The business paid P1,000 for the weekly salary of an employee. July 24 July GENERAL JOURNAL Page 3 P.R. Debit Credit Da Date Account Titles and Explanation 502 P1,000 Ju Jul-24 Salaries Expense 101 P1,000 Cash To record payment of salary Analysis: P1,000 Salaries Expense Debit De Decrease in Owner's Equity: P1,000 Cash Credit De Decrease in Asset: July 27 Mr. Pamilya withdrew P500 from the business. GENERAL JOURNAL Page 3 P.R. Dębit Credit Date Account Titles and Explanation 302 P 500 Jul-27 Pamilya, Drawings Cash 101 P 500 To record owner's withdrawal Analysis: Decrease in Owner's Equity: Pamilya, Drawings P500 Debit Decrease in Asset: Cash P500 Сredit July 28 He collected P2,000 which is the amount billed to a customer. GENERAL JOURNAL Page 3 Date Account Titles and Explanation P.R. Debit Credit Jul-28 Cash 101 P 2,000 Accounts Receivable 102 P 2,000 To record collection of customer's account Analysis: Increase in asset: Decrease in asset: Cash Debit P2,000 Accounts Receivable P2,000 Credit
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 10 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Information system controls
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS