Activity 1.1 Friendly TruckingOn April 1, 2019, Nels Ferrer organized a business callèd Friendly Trucking.During April, the company entered into the following ransactions:Apr 1 Nels Ferrer deposited Php500,000 cash in a bank account in the name ofthe business.Apr 1 Purchased for Php250,000 a transportation equipment tobe use in the business. Nels páid 50% as down payment while thebalance will be paid on May5, 2019Apr 1Paid rental for the month of April, Php 5,000Apr 5Earned and collected trucking income from Ryan, Php8,000Apr 8 Earned trucking income from Jesper, Php 30,000 on account. Jesper willpay on May 8, 2019Apr 10Paid salaries ofdrivers, Php10,000Apr 15 Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on thatdate and the balance on April 20Paid electric bills for the month, Php2,000Apr 18Apr 20Collected from Joshua the balance of his April 15 accountApr 25Purchased office supplies, Php2,300Apr 29Earned and collected trucking income from Jay, Php18,000Instructions:a. Journalize the above transactionsb. Post to ledger using the T-account formatc. Prepare the unadjusted trial balance, as of April 30, 2019

Journals, Ledgers and Unadjusted trial Balance are important for a company's accounting

Answered: Instructions: a. Journalize the above…

Instructions: a. Journalize the above transactions b. Post to ledger using the T-account format c. Prepare the unadjusted trial balance, as of April 30, 2019

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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Activity 1.1 Friendly Trucking
On April 1, 2019, Nels Ferrer organized a business callèd Friendly Trucking.
During April, the company entered into the following ransactions:
Apr 1 Nels Ferrer deposited Php500,000 cash in a bank account in the name of
the business.
Apr 1 Purchased for Php250,000 a transportation equipment to
be use in the business. Nels páid 50% as down payment while the
balance will be paid on May5, 2019
Apr 1
Paid rental for the month of April, Php 5,000
Apr 5
Earned and collected trucking income from Ryan, Php8,000
Apr 8 Earned trucking income from Jesper, Php 30,000 on account. Jesper will
pay on May 8, 2019
Apr 10
Paid salaries ofdrivers, Php10,000
Apr 15 Rented the vehicle to Joshua for Php35,000, Joshua paid Php20,000 on that
date and the balance on April 20
Paid electric bills for the month, Php2,000
Apr 18
Apr 20
Collected from Joshua the balance of his April 15 account
Apr 25
Purchased office supplies, Php2,300
Apr 29
Earned and collected trucking income from Jay, Php
18,000
Instructions:
a. Journalize the above transactions
b. Post to ledger using the T-account format
c. Prepare the unadjusted trial balance, as of April 30, 2019

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