Identify the appropriate journal to be used in each item. Choose from the book of accounts inside the box. General JournalSales JournalPurchase JournalCash Receipt JournalCash Disbursement Journal1. Mr. Ong invested an equipment on his own business worth of Php200,000.00.2. Aling Lita sold merchandise on account worth of Php 3,000.00.3. Mr. Valdez purchased a vehicle worth of Php 150,000.00 on account.4. Rhea received Php 20,000.00 for the services that she rendered.5. Janice paid the salaries of her employees on her accounting firm with the amount of Php 30,000.00.6. Khariz bought office supplies on cash basis amounting to Php 2,000.00.7. Trishi received cash of Php 5,000.00 on the sales she made.8. Mr. Melbourne purchased supplies amounting to Php 1,500.000 with the terms of 2/2, n/30.9. Julie sold merchandise amounting to Php 20,000.00 with the terms of 2/5, n/30.10. Mr. Ong withdrew cash worth of Php 3,000.00 for his personal use.

Name: Identify the appropriate journal to be used in each item. Choose from
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Identify the appropriate journal to be used in each item. Choose from the book of accounts inside the box. General JournalSales JournalPurchase JournalCash Receipt JournalCash Disbursement Journal1. Mr. Ong invested an equipment on his own business w

“Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Answered: Identify the appropriate journal to be…

Business

Accounting

Identify the appropriate journal to be used in each item. Choose from the book of accounts inside the box.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

an account should be referred to a professional collection agency if
When matching bank or credit card downloaded transactions to a transaction already recorded in QuickBooks Online, what are the possible actions that appear in the Action column?
The following table shows the average returns for some of the largest mutual funds commonly found in retirement plans. (Assume end-of-month deposits and withdrawals and monthly compounding, and assume that the quoted rate of return continues indefinitely.) How much would be accumulated after 25 years in a retirement account invested entirely in the Vanguard 500 stock fund with payments of $280 per month? HINT [See Quick Example 1.] (Round your answer to the nearest cent.) SA $ Mutual Fund Fidelity Growth Company Vanguard 500 Index PIMCO Total Return Vanguard Total Bond Market Index Type Stock fund Stock fund Bond fund Bond fund Rate of 30.31% 17.98% 3.63% 3.10% Return
What questions should be asked after a returned item hasbeen counted and recorded?
Draw the diamond rule structure that help in recording journal entries in debit and credit columns in General Journal. Explain the structure and its parts.
Briefly describe each of the following documents or records: purchase requisition, purchase order, receiving report, vendor invoice, and voucher. Why would an entity combine all documents related to a purchase transaction into a “voucher packet”?
Describe and put the sales notebook to use. What procedures are involved in submitting sales journal entries to the accounts receivable ledger?
Explain how to record the purchase of supplies.
How do you know if a journal is reputable?