GENERAL JOURNAL ACTIVITY 2. RECORDING 101 The Problem: Express Delivery Service, owned and operated by Happy Antonio, began operation in June The following were business transactions for the said period of time: June 1 Happy made the following initial investment. Cash deposited in bank in the name Express Delivery Service P1,300,000 Delivery Van 800,000 4 Bought supplies for cash , P10,550 Bought fuel on account to tune the delivery truck, P1,000 Rendered delivery service on account, P 25,300 10 Received cash for delivery work done, P 12,450 15 Hired an office manager for monthly salary of P 28,000 17 Collection from cash customer, P18,900 20 Paid a advertising campaign through social media P10,000 5.

GENERAL JOURNAL ACTIVITY 2. RECORDING 101 The Problem: Express Delivery Service, owned and operated by Happy Antonio, began operation in June The following were business transactions for the said period of time: June 1 Happy made the following initial investment. Cash deposited in bank in the name Express Delivery Service P1,300,000 Delivery Van 800,000 4 Bought supplies for cash , P10,550 Bought fuel on account to tune the delivery truck, P1,000 Rendered delivery service on account, P 25,300 10 Received cash for delivery work done, P 12,450 15 Hired an office manager for monthly salary of P 28,000 17 Collection from cash customer, P18,900 20 Paid a advertising campaign through social media P10,000 5.

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Description: GENERAL JOURNALACTIVITY 2. RECORDING 101The Problem: Express Delivery Service, owned and operated by Happy Antonio, began operation in JuneThe following were business transactions for the said period of time:June 1Happy made the following initial in

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

GENERAL JOURNAL
ACTIVITY 2. RECORDING 101
The Problem: Express Delivery Service, owned and operated by Happy Antonio, began operation in June
The following were business transactions for the said period of time:
June 1
Happy made the following initial investment.
Cash deposited in bank in the name
Express Delivery Service
P1,300,000
Delivery Van
800,000
4
Bought supplies for cash, P10,550
Bought fuel on account to tune the delivery truck, P1,000
6
Rendered delivery service on account, P 25,300
10 Received cash for delivery work done, P 12,450
15
Hired an office manager for monthly salary of P 28,000
17
Collection from cash customer, P18,900
20
Paid a advertising campaign through social media P10,000

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