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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%

Transcribed Image Text: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
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps

Knowledge Booster
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.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education