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Indicate the effects of transaction from March 1 to March 30.

Indicate the effects of transaction from March 1 to March 30.

FINANCIAL ACCOUNTING
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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Indicate the effects of transaction from March 1 to March 30.

Illustration The B.Bee Apartelle was established on March 1, 2019 by Betty Bee. The following are the transactions of the business during the month : March 1 Invested land valued at P 500,000 and building worth P 1,500,000 into the business. 2 Invested further cash of P 50,000 and office supplies in the amount of P 5,000. Paid taxes and business permit P 1,200. 5 Purchased office furniture of P 28,600 from Domus Furniture on account. 7 Paid for minor repairs in the building P 465. 11 Bought a desk calculator and a computer for a total of P 38,220 payable in seven days from Sharp, Inc. 15 Cash received from various customers on several units leased P 48,200. 15 Paid salaries of employees, P 14,800. 17 Ms. Bee withdrew cash of P 5,000 for personal use. 18 Paid Sharp Inc. 20 Billed a customer for lease of a function room in the building, P 15,000. 23 Billed a customer for the lease of three units of the building for a two- day seminar, P 20,000; receiving cash of P 5,000 and the balance is covered by a promissory note. 27 Paid Domus Furniture P 10,000 to apply on account. 29 Collected from a customer P 6,000 as payment of account. 29 Collected from various customers on units leased P 38,600. 30 Ms. Bee invested an airconditioning equipment unit valued at P 120,000. 30 Paid P14,200 to Malayan Insurance Co. for a one-year insurance policy on the building and its contents. 30 Paid P 680 to Bulletin Today for two consecutive days advertisement dated March 29 and 30.
Transcribed Image Text:Illustration The B.Bee Apartelle was established on March 1, 2019 by Betty Bee. The following are the transactions of the business during the month : March 1 Invested land valued at P 500,000 and building worth P 1,500,000 into the business. 2 Invested further cash of P 50,000 and office supplies in the amount of P 5,000. Paid taxes and business permit P 1,200. 5 Purchased office furniture of P 28,600 from Domus Furniture on account. 7 Paid for minor repairs in the building P 465. 11 Bought a desk calculator and a computer for a total of P 38,220 payable in seven days from Sharp, Inc. 15 Cash received from various customers on several units leased P 48,200. 15 Paid salaries of employees, P 14,800. 17 Ms. Bee withdrew cash of P 5,000 for personal use. 18 Paid Sharp Inc. 20 Billed a customer for lease of a function room in the building, P 15,000. 23 Billed a customer for the lease of three units of the building for a two- day seminar, P 20,000; receiving cash of P 5,000 and the balance is covered by a promissory note. 27 Paid Domus Furniture P 10,000 to apply on account. 29 Collected from a customer P 6,000 as payment of account. 29 Collected from various customers on units leased P 38,600. 30 Ms. Bee invested an airconditioning equipment unit valued at P 120,000. 30 Paid P14,200 to Malayan Insurance Co. for a one-year insurance policy on the building and its contents. 30 Paid P 680 to Bulletin Today for two consecutive days advertisement dated March 29 and 30.
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