Getting Better: Solve the Problem below. 1. Gypsy Co. had the following cash related transaction for the fist month of opera March 2018. March the owner invested P 100, 000 to start her business Bought P 50, 200 worth of merchandize inventory Sold goods for P 80, 500 on account Collected P 50, 800 from accounts receivable Sold goods for cash P 75, 300 Paid employees salaries amounting to P 36, 900 paid electricity and water bills amounting to P 23, 600 the owner withdraw P 15, 500 for personal expenses 15 17 19 25 29 30 Required: Determine the T-account.
Getting Better: Solve the Problem below. 1. Gypsy Co. had the following cash related transaction for the fist month of opera March 2018. March the owner invested P 100, 000 to start her business Bought P 50, 200 worth of merchandize inventory Sold goods for P 80, 500 on account Collected P 50, 800 from accounts receivable Sold goods for cash P 75, 300 Paid employees salaries amounting to P 36, 900 paid electricity and water bills amounting to P 23, 600 the owner withdraw P 15, 500 for personal expenses 15 17 19 25 29 30 Required: Determine the T-account.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:JAS LUZANU LPT.
Contact # : 09750614305
Getting Better:
Solve the Problem below.
1. Gypsy Co. had the following cash related transaction for the fist month of operation
March 2018.
the owner invested P 100, 000 to start her business
Bought P 50, 200 worth of merchandize inventory
Sold goods for P 80, 500 on account
Collected P 50, 800 from accounts receivable
March
9.
15
17
Sold goods for cash P 75, 300
Paid employees salaries amounting to P 36, 900
paid electricity and water bills amounting to P 23, 600
the owner withdraw P 15, 500 for personal expenses
19
25
29
30
Required: Determine the T-account.
Gaining Mastery:
the effect of all the transaction above problem and the balance at the end
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