Indicate the effects of the transactions the form below & determine the ending balance of the accounts. (PS: don't mind the numbers that i wrote) Exercise 6Dominic Puzon has just passed the bar exam and started practicing law. Beloware his first month's transactions.1 Began business by investing P 50,000 cash and land with a valueof P 200,000.4 Purchased P7,500 worth of supplies on account.9 Obtained a bank loan of P 500,000.15 Bought laptop computers on account for P 49,000.17 Paid salaries for month, P 1,90021 Purchased printing equipment for P 15,000 cash.24 Paid P25,000 of the outstanding liability for the purchase ofcomputers on January 15.29 Constructed a building on the land, P 400,000.31 Paid one year insurance premium of the building P 4,000.JanIndicate the effects of the transactions in the form below and determine theending balances of the accounts.Owner'sLiabilitiesAssetsPrepaidJan. Cash Supplies Insurance Equipment Land BuildingEquityOwner'sOfficeOfficeAccountsLoansPayable PayableCapital250 0004151,901715,024 5 )29 4 K31 4,n10.

The double entry system is used by the accountants to record the transactions into books of accounts…

Answered: Indicate the effects of the…

Business

Accounting

Indicate the effects of the transactions the form below & determine the ending balance of the accounts.

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter1: Starting A Proprietorship: Changes That Affect The Accounting Equation

Section1.1: Accounting In Action

Problem 1WT

See similar textbooks

Similar questions

D3
The following balances were extracted from the books of Pat Pet Shop on 31 December 2019: Amount (RM) 200,000 120,000 70,000 10,850 100,000 60,000 69,250 40,000 612,000 100,000 348,000 5,000 3,500 12,000 26,700 43,200 18,000 4,000 12,500 27,000 90,000 Accounts Building Motor vehicles Plant and machinery Profit as at 01.01.2019 Capital Acc depreciation as at 31.12.2019 : Building Acc depreciation as at 31.12.2019 : Motor vehicles Acc depreciation as at 31.12.2019 : Plant & machinery Sales Commission revenue Purchases Sales discounts Purchase discounts Opening inventory Trade receivables Trade payable Administrative expenses Staff training cost Bad debts Motor expenses Rental Bank overdraft Wages and salaries Interest Unearned commission for December 2019 13,400 115,000 6,000 2,000 Required:- Assuming all accounts are in normal balance, prepare the trial balance as at 31 December 2019. Question 5 After you have prepared the trial balance for Question 4, you notice the following…
Prepare The General Jorunal
X the column involved in the journal entry. Debit Cash Account 1 business You put $10,000 cash in your 2 next month. You sell a $5000 painting to Joey. The money's due You buy $300 supplies on account 3 from the paint store You pay $100 cash bonus to your helper so they can buy 4 turkey dinner. 8 5 delivered. 9 You owe Staples for $75 of copy paper you had 6 Joey paid his bill You pay off what you owe at the 7 paint store Amy puts $300 on your desk for a painting you'll do over New Years You pay Staples You buy a scanner 10 for $4000 cash Debit Accts Receivable Debit Accts Payable Credit Cash Credit Credit Accts Accts Receivable Payable h
Question: How would I record these in MYOB account right v19. can you please provide step by step instructions. Thanks It is now 7 January 2024 You find a note on your desk from Alonso instructing you to record a list of transactions that occurred during the first week of January as follows: Transactions from early January 2024 2 3 Obtained a loan of $16,000 from Uncle Sebastian (a family relative of Alonso Cohen) at a simple interest rate of 12% per year, Cheque No. 188, ID #CR000001. The principal and interest on the loan are payable in six months time. Issued Cheque No. 4005 for $9,328 to Big Telco in payment of Purchase #326 (Supplier Inv#253). 3 Received Cheque No. 249 from Hypertronics for the full amount outstanding on their account, ID #CR000002. 3 Issued Cheque No. 4006 for $1,980 (includes 10% GST) to Discount Office Supplies for the cash purchase of office supplies. 4 5 Purchased 7 units Tony ZIO MLP projectors from Pear Technology at $1,342 each (includes 10% GST), Purchase…
4. Jill Hamlin borrowed $40,000 from the bank on August 16, issuing the bank a 12% note. The entry to record accrued interest on the note on August 31 (15 days later) would include: a . debit Interest Expense for $197.26 b. debit Interest Payable for $197.26 c. credit Interest Expense for $407.67 d. credit Interest Payable for $407.67 d. debit Cash for $18,000
DATE TRANSACTIONS 20X1 Mar. 4 Mr. Howard borrows $34,560 from the bank on a note payable for the business. Terms of the note are 10 percent interest for 45 days. 11 A 90-day $47,520 note payable to the bank is discounted at a rate of 8 percent. 22 Sold a car to Darnell Jones for $40,320 on a 75-day note receivable, bearing interest at 7 percent. 23 Discounted the Jones note with the bank. The bank charges a discount rate of 10 percent. 25 Sold a car for $48,960 to Henry Thomas. Thomas paid $4,000 cash and signed a 30-day note, bearing interest at 9 percent, for the balance. 28 Alfred Herron's account receivable is overdue. Howard requires him to sign a 8 percent, 30-day note for the balance of $37,440. Additional Data Howard pays all the company’s notes payable on time. Darnell Jones defaults on his $40,320 note and the bank charges the company’s checking account for the maturity value of the note and a service fee of $54. Henry Thomas pays…
plz help thank you
Vinubhai Don't upload image please
2
Do fast answer of this accounting question
ff2