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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
100%

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.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Accounting for Leases
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education